[ctr70]

I personally know someone who had a World Savings option ARM (now Wells Fargo) and they reduced her loan balance by around $40,000 and converted her a 40 yr fixed a 4.875%. She can now rent her property and cash flow or actually sell and break even! So she got 1% for 6 yrs w/ a World Savings pick-a-pay and then did not have to pay the piper. Got a free lunch.

This blog has some info on what Wells Fargo is doing with option arms:

http://www.thetruthaboutmortgage.com

It just continues to really bother me how stupid people who got themselves into that crap are not having to pay for the consquences. And conservative people who DID NOT overextend themselves get nothing.

And I about barf when I hear so many people talk about how they were duped into these loans. Yes a few were. But the majority knew exactly what they were getting into with option arms. The lady I’m talking about above was actually IN THE LOAN BUSINESS.

What ever happened about *personal responsibility* in this country and actually READING WHAT YOU SIGN and taking responsibility for your own friggen life and finances. It makes me sick to hear all the whiners blamming others for the financial situation they got themselves into.

[ctr70]

I personally know someone who had a World Savings option ARM (now Wells Fargo) and they reduced her loan balance by around $40,000 and converted her a 40 yr fixed a 4.875%. She can now rent her property and cash flow or actually sell and break even! So she got 1% for 6 yrs w/ a World Savings pick-a-pay and then did not have to pay the piper. Got a free lunch.

This blog has some info on what Wells Fargo is doing with option arms:

http://www.thetruthaboutmortgage.com

It just continues to really bother me how stupid people who got themselves into that crap are not having to pay for the consquences. And conservative people who DID NOT overextend themselves get nothing.

And I about barf when I hear so many people talk about how they were duped into these loans. Yes a few were. But the majority knew exactly what they were getting into with option arms. The lady I’m talking about above was actually IN THE LOAN BUSINESS.

What ever happened about *personal responsibility* in this country and actually READING WHAT YOU SIGN and taking responsibility for your own friggen life and finances. It makes me sick to hear all the whiners blamming others for the financial situation they got themselves into.

[ctr70]

North Park, South Park, Univ Heights…definately did not take as big of a hit as a lot of areas (like Eastlake for example). Even the 1 bed condo conversions in the better areas of np/sp/uh are creeping up in price.

I’ve seen non-flipper normal buyers who bought condo’s in 2008 that can now sell and have enough room to pay 6% to Realtors + bank a little cash from the sale.

The bottom was in that brief period from spring 2008 to early 2009. Now it is multiple offer city with seemingly no end in sight.

[ctr70]

North Park, South Park, Univ Heights…definately did not take as big of a hit as a lot of areas (like Eastlake for example). Even the 1 bed condo conversions in the better areas of np/sp/uh are creeping up in price.

I’ve seen non-flipper normal buyers who bought condo’s in 2008 that can now sell and have enough room to pay 6% to Realtors + bank a little cash from the sale.

The bottom was in that brief period from spring 2008 to early 2009. Now it is multiple offer city with seemingly no end in sight.

[ctr70]

North Park, South Park, Univ Heights…definately did not take as big of a hit as a lot of areas (like Eastlake for example). Even the 1 bed condo conversions in the better areas of np/sp/uh are creeping up in price.

I’ve seen non-flipper normal buyers who bought condo’s in 2008 that can now sell and have enough room to pay 6% to Realtors + bank a little cash from the sale.

The bottom was in that brief period from spring 2008 to early 2009. Now it is multiple offer city with seemingly no end in sight.

[ctr70]

North Park, South Park, Univ Heights…definately did not take as big of a hit as a lot of areas (like Eastlake for example). Even the 1 bed condo conversions in the better areas of np/sp/uh are creeping up in price.

I’ve seen non-flipper normal buyers who bought condo’s in 2008 that can now sell and have enough room to pay 6% to Realtors + bank a little cash from the sale.

The bottom was in that brief period from spring 2008 to early 2009. Now it is multiple offer city with seemingly no end in sight.

[ctr70]

North Park, South Park, Univ Heights…definately did not take as big of a hit as a lot of areas (like Eastlake for example). Even the 1 bed condo conversions in the better areas of np/sp/uh are creeping up in price.

I’ve seen non-flipper normal buyers who bought condo’s in 2008 that can now sell and have enough room to pay 6% to Realtors + bank a little cash from the sale.

The bottom was in that brief period from spring 2008 to early 2009. Now it is multiple offer city with seemingly no end in sight.

[ctr70]

I wonder if their are any consultants or home inspectors that specialize in condo’s that could both help you inspect the physical structure and the financial soundness of the HOA?

[ctr70]

I wonder if their are any consultants or home inspectors that specialize in condo’s that could both help you inspect the physical structure and the financial soundness of the HOA?

[ctr70]

I wonder if their are any consultants or home inspectors that specialize in condo’s that could both help you inspect the physical structure and the financial soundness of the HOA?

[ctr70]

I wonder if their are any consultants or home inspectors that specialize in condo’s that could both help you inspect the physical structure and the financial soundness of the HOA?

[ctr70]

I wonder if their are any consultants or home inspectors that specialize in condo’s that could both help you inspect the physical structure and the financial soundness of the HOA?

[ctr70]

I’m looking more in the better North Park areas and Univ Heights. I’ve noticed some normal buyers who bought conversions in later 2008 are already able to sell with enough equity to pay the Realtor commission AND walk away with some cash. So the prices have risen a fair amount in some cases in the better areas since late 2008. Even the 1 bedroom conversions in better areas where I’m looking get hammered with multiple offers as soon as they hit the MLS and a lot of cash buyers.

Could you hire an inspector that would be able to look under the hood of a condo project? I would imagine that is not as simple as a single family home inspection.

[ctr70]

I’m looking more in the better North Park areas and Univ Heights. I’ve noticed some normal buyers who bought conversions in later 2008 are already able to sell with enough equity to pay the Realtor commission AND walk away with some cash. So the prices have risen a fair amount in some cases in the better areas since late 2008. Even the 1 bedroom conversions in better areas where I’m looking get hammered with multiple offers as soon as they hit the MLS and a lot of cash buyers.

Could you hire an inspector that would be able to look under the hood of a condo project? I would imagine that is not as simple as a single family home inspection.

[ctr70]

I’m looking more in the better North Park areas and Univ Heights. I’ve noticed some normal buyers who bought conversions in later 2008 are already able to sell with enough equity to pay the Realtor commission AND walk away with some cash. So the prices have risen a fair amount in some cases in the better areas since late 2008. Even the 1 bedroom conversions in better areas where I’m looking get hammered with multiple offers as soon as they hit the MLS and a lot of cash buyers.

Could you hire an inspector that would be able to look under the hood of a condo project? I would imagine that is not as simple as a single family home inspection.

[Author]

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