[Coronita]

I wonder just how many customers have pulled their assets so far?

Good question, but an even better one would be why are they pulling their money out at all? As long as your accounts are below the insured limits, you're safe. I wonder if this whole thing wasn't just a trick conjured up to make some quick cash on the etrade stock. That one goofy analyst opinion drove the stock down farther than it should go then someone buys up the shares before they bounce back. Those that bought down at 3.50 on Monday are now up over 50%. I'm convinced that 99% of the stuff you read about stocks in the news is designed to manipulate the market.

Still, their mortgage exposure is a bit scary but not "stuff your money in the mattress" kind of scary…

 

Because even though there shouldn't be a problem, why take a chance? You're not being rewarded for the extra risk. As far as the stock price, stock price is a reflection of market sentiment. What you saw falling to 3.5 could have been an overreaction. The rise to $5 could be because some of that initial panic subsided OR it could just be a dead cat bounce: people think it went down so much it has to rise and hence bought. Only time will tell.

 

I did clean out our accounts. 

[Coronita]

I wonder just how many customers have pulled their assets so far?

Good question, but an even better one would be why are they pulling their money out at all? As long as your accounts are below the insured limits, you're safe. I wonder if this whole thing wasn't just a trick conjured up to make some quick cash on the etrade stock. That one goofy analyst opinion drove the stock down farther than it should go then someone buys up the shares before they bounce back. Those that bought down at 3.50 on Monday are now up over 50%. I'm convinced that 99% of the stuff you read about stocks in the news is designed to manipulate the market.

Still, their mortgage exposure is a bit scary but not "stuff your money in the mattress" kind of scary…

 

Because even though there shouldn't be a problem, why take a chance? You're not being rewarded for the extra risk. As far as the stock price, stock price is a reflection of market sentiment. What you saw falling to 3.5 could have been an overreaction. The rise to $5 could be because some of that initial panic subsided OR it could just be a dead cat bounce: people think it went down so much it has to rise and hence bought. Only time will tell.

 

I did clean out our accounts. 

[Coronita]

I wonder just how many customers have pulled their assets so far?

Good question, but an even better one would be why are they pulling their money out at all? As long as your accounts are below the insured limits, you're safe. I wonder if this whole thing wasn't just a trick conjured up to make some quick cash on the etrade stock. That one goofy analyst opinion drove the stock down farther than it should go then someone buys up the shares before they bounce back. Those that bought down at 3.50 on Monday are now up over 50%. I'm convinced that 99% of the stuff you read about stocks in the news is designed to manipulate the market.

Still, their mortgage exposure is a bit scary but not "stuff your money in the mattress" kind of scary…

 

Because even though there shouldn't be a problem, why take a chance? You're not being rewarded for the extra risk. As far as the stock price, stock price is a reflection of market sentiment. What you saw falling to 3.5 could have been an overreaction. The rise to $5 could be because some of that initial panic subsided OR it could just be a dead cat bounce: people think it went down so much it has to rise and hence bought. Only time will tell.

 

I did clean out our accounts. 

[Coronita]

I wonder just how many customers have pulled their assets so far?

Good question, but an even better one would be why are they pulling their money out at all? As long as your accounts are below the insured limits, you're safe. I wonder if this whole thing wasn't just a trick conjured up to make some quick cash on the etrade stock. That one goofy analyst opinion drove the stock down farther than it should go then someone buys up the shares before they bounce back. Those that bought down at 3.50 on Monday are now up over 50%. I'm convinced that 99% of the stuff you read about stocks in the news is designed to manipulate the market.

Still, their mortgage exposure is a bit scary but not "stuff your money in the mattress" kind of scary…

 

Because even though there shouldn't be a problem, why take a chance? You're not being rewarded for the extra risk. As far as the stock price, stock price is a reflection of market sentiment. What you saw falling to 3.5 could have been an overreaction. The rise to $5 could be because some of that initial panic subsided OR it could just be a dead cat bounce: people think it went down so much it has to rise and hence bought. Only time will tell.

 

I did clean out our accounts. 

[Coronita]

I wonder just how many customers have pulled their assets so far?

Good question, but an even better one would be why are they pulling their money out at all? As long as your accounts are below the insured limits, you're safe. I wonder if this whole thing wasn't just a trick conjured up to make some quick cash on the etrade stock. That one goofy analyst opinion drove the stock down farther than it should go then someone buys up the shares before they bounce back. Those that bought down at 3.50 on Monday are now up over 50%. I'm convinced that 99% of the stuff you read about stocks in the news is designed to manipulate the market.

Still, their mortgage exposure is a bit scary but not "stuff your money in the mattress" kind of scary…

 

Because even though there shouldn't be a problem, why take a chance? You're not being rewarded for the extra risk. As far as the stock price, stock price is a reflection of market sentiment. What you saw falling to 3.5 could have been an overreaction. The rise to $5 could be because some of that initial panic subsided OR it could just be a dead cat bounce: people think it went down so much it has to rise and hence bought. Only time will tell.

 

I did clean out our accounts. 

[Coronita]

I actually looked at this property this week as a rental. The listing agent showed it to me and they purchased a larger home in Carmel Valley somewhere. So they went to the "hang on and rent" option. It was in very nice condition, was upgraded to some degree and had a very decent sized back yard for the size of the home.

 

I thought that would be the case…I guess  I'm still looking for the asian family that violates the "hanging on no matter what" syndrome…Although I think I might have found one. One of my neighbors that bought about 5-6 months ago and overpaid just put their home on the block again. Interesting.

[Coronita]

I actually looked at this property this week as a rental. The listing agent showed it to me and they purchased a larger home in Carmel Valley somewhere. So they went to the "hang on and rent" option. It was in very nice condition, was upgraded to some degree and had a very decent sized back yard for the size of the home.

 

I thought that would be the case…I guess  I'm still looking for the asian family that violates the "hanging on no matter what" syndrome…Although I think I might have found one. One of my neighbors that bought about 5-6 months ago and overpaid just put their home on the block again. Interesting.

[Coronita]

I actually looked at this property this week as a rental. The listing agent showed it to me and they purchased a larger home in Carmel Valley somewhere. So they went to the "hang on and rent" option. It was in very nice condition, was upgraded to some degree and had a very decent sized back yard for the size of the home.

 

I thought that would be the case…I guess  I'm still looking for the asian family that violates the "hanging on no matter what" syndrome…Although I think I might have found one. One of my neighbors that bought about 5-6 months ago and overpaid just put their home on the block again. Interesting.

[Coronita]

I actually looked at this property this week as a rental. The listing agent showed it to me and they purchased a larger home in Carmel Valley somewhere. So they went to the "hang on and rent" option. It was in very nice condition, was upgraded to some degree and had a very decent sized back yard for the size of the home.

 

I thought that would be the case…I guess  I'm still looking for the asian family that violates the "hanging on no matter what" syndrome…Although I think I might have found one. One of my neighbors that bought about 5-6 months ago and overpaid just put their home on the block again. Interesting.

[Coronita]

I actually looked at this property this week as a rental. The listing agent showed it to me and they purchased a larger home in Carmel Valley somewhere. So they went to the "hang on and rent" option. It was in very nice condition, was upgraded to some degree and had a very decent sized back yard for the size of the home.

 

I thought that would be the case…I guess  I'm still looking for the asian family that violates the "hanging on no matter what" syndrome…Although I think I might have found one. One of my neighbors that bought about 5-6 months ago and overpaid just put their home on the block again. Interesting.

[Coronita]

La Jolla Renter

 

Found out an owner nets 43% of the room rate. Not sure if that will cover a 400k 30yr fixed mortgage, but very close.

 

That's ridiculous low percentage of the room rate. Some of the condo-hotel's i saw was charging 25% room rate, and even so it was till hard to get the numbers to match. Keep in mind that in addition to just the room rate fee, there are probably HOA/management fees that are considerably higher than any fees you would see in a residential attached home.

Do the math yourself. Find out home much room rates are, how much management fee is, how much of the hotel costs they want you to put up, how much the fees are to rent the room out, how much insurance will be if you can find it, and how much a commercial loan will be. BTW, I'm pretty sure you won't be able to get a conventional fixed rate mortgage..Because again this isn't a residential property.You'll be looking at commercial property financing.

 

[Coronita]

La Jolla Renter

 

Found out an owner nets 43% of the room rate. Not sure if that will cover a 400k 30yr fixed mortgage, but very close.

 

That's ridiculous low percentage of the room rate. Some of the condo-hotel's i saw was charging 25% room rate, and even so it was till hard to get the numbers to match. Keep in mind that in addition to just the room rate fee, there are probably HOA/management fees that are considerably higher than any fees you would see in a residential attached home.

Do the math yourself. Find out home much room rates are, how much management fee is, how much of the hotel costs they want you to put up, how much the fees are to rent the room out, how much insurance will be if you can find it, and how much a commercial loan will be. BTW, I'm pretty sure you won't be able to get a conventional fixed rate mortgage..Because again this isn't a residential property.You'll be looking at commercial property financing.

 

[Coronita]

La Jolla Renter

 

Found out an owner nets 43% of the room rate. Not sure if that will cover a 400k 30yr fixed mortgage, but very close.

 

That's ridiculous low percentage of the room rate. Some of the condo-hotel's i saw was charging 25% room rate, and even so it was till hard to get the numbers to match. Keep in mind that in addition to just the room rate fee, there are probably HOA/management fees that are considerably higher than any fees you would see in a residential attached home.

Do the math yourself. Find out home much room rates are, how much management fee is, how much of the hotel costs they want you to put up, how much the fees are to rent the room out, how much insurance will be if you can find it, and how much a commercial loan will be. BTW, I'm pretty sure you won't be able to get a conventional fixed rate mortgage..Because again this isn't a residential property.You'll be looking at commercial property financing.

 

[Coronita]

La Jolla Renter

 

Found out an owner nets 43% of the room rate. Not sure if that will cover a 400k 30yr fixed mortgage, but very close.

 

That's ridiculous low percentage of the room rate. Some of the condo-hotel's i saw was charging 25% room rate, and even so it was till hard to get the numbers to match. Keep in mind that in addition to just the room rate fee, there are probably HOA/management fees that are considerably higher than any fees you would see in a residential attached home.

Do the math yourself. Find out home much room rates are, how much management fee is, how much of the hotel costs they want you to put up, how much the fees are to rent the room out, how much insurance will be if you can find it, and how much a commercial loan will be. BTW, I'm pretty sure you won't be able to get a conventional fixed rate mortgage..Because again this isn't a residential property.You'll be looking at commercial property financing.

 

[Coronita]

La Jolla Renter

 

Found out an owner nets 43% of the room rate. Not sure if that will cover a 400k 30yr fixed mortgage, but very close.

 

That's ridiculous low percentage of the room rate. Some of the condo-hotel's i saw was charging 25% room rate, and even so it was till hard to get the numbers to match. Keep in mind that in addition to just the room rate fee, there are probably HOA/management fees that are considerably higher than any fees you would see in a residential attached home.

Do the math yourself. Find out home much room rates are, how much management fee is, how much of the hotel costs they want you to put up, how much the fees are to rent the room out, how much insurance will be if you can find it, and how much a commercial loan will be. BTW, I'm pretty sure you won't be able to get a conventional fixed rate mortgage..Because again this isn't a residential property.You'll be looking at commercial property financing.

 

[Author]

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