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June 13, 2009 at 5:33 PM in reply to: Who has the best 10/1 or 30-year fixed I/O programs? (pls don’t laugh) #415237June 13, 2009 at 5:33 PM in reply to: Who has the best 10/1 or 30-year fixed I/O programs? (pls don’t laugh) #415475
Effective Demand
Participant[quote=SD Realtor]AK the one thing I can confirm for you is that it is SHEER LUNACY in the market right now. It is so far from where it was just 6 months ago that it is laughable. I am seeing no look offers, multiple offers, offers above bid. It makes no sense. [/quote]
I think its the foreclosure moratoriums constricting supply coinciding with sub-5% rates. Then with the rate spike of the last 2 weeks a lot of people are panicking that they will be priced out (through interest rate spikes) and are making offers on any marginal property they can instead of waiting. If rates keep around 5.75% there will be a lot of short sale contingents coming back to market and loan mods that won’t be able to be done. Rates are really driving peoples purchasing decisions right now.
June 13, 2009 at 5:33 PM in reply to: Who has the best 10/1 or 30-year fixed I/O programs? (pls don’t laugh) #415731Participant[quote=SD Realtor]AK the one thing I can confirm for you is that it is SHEER LUNACY in the market right now. It is so far from where it was just 6 months ago that it is laughable. I am seeing no look offers, multiple offers, offers above bid. It makes no sense. [/quote]
I think its the foreclosure moratoriums constricting supply coinciding with sub-5% rates. Then with the rate spike of the last 2 weeks a lot of people are panicking that they will be priced out (through interest rate spikes) and are making offers on any marginal property they can instead of waiting. If rates keep around 5.75% there will be a lot of short sale contingents coming back to market and loan mods that won’t be able to be done. Rates are really driving peoples purchasing decisions right now.
June 13, 2009 at 5:33 PM in reply to: Who has the best 10/1 or 30-year fixed I/O programs? (pls don’t laugh) #415799Participant[quote=SD Realtor]AK the one thing I can confirm for you is that it is SHEER LUNACY in the market right now. It is so far from where it was just 6 months ago that it is laughable. I am seeing no look offers, multiple offers, offers above bid. It makes no sense. [/quote]
I think its the foreclosure moratoriums constricting supply coinciding with sub-5% rates. Then with the rate spike of the last 2 weeks a lot of people are panicking that they will be priced out (through interest rate spikes) and are making offers on any marginal property they can instead of waiting. If rates keep around 5.75% there will be a lot of short sale contingents coming back to market and loan mods that won’t be able to be done. Rates are really driving peoples purchasing decisions right now.
June 13, 2009 at 5:33 PM in reply to: Who has the best 10/1 or 30-year fixed I/O programs? (pls don’t laugh) #415958Participant[quote=SD Realtor]AK the one thing I can confirm for you is that it is SHEER LUNACY in the market right now. It is so far from where it was just 6 months ago that it is laughable. I am seeing no look offers, multiple offers, offers above bid. It makes no sense. [/quote]
I think its the foreclosure moratoriums constricting supply coinciding with sub-5% rates. Then with the rate spike of the last 2 weeks a lot of people are panicking that they will be priced out (through interest rate spikes) and are making offers on any marginal property they can instead of waiting. If rates keep around 5.75% there will be a lot of short sale contingents coming back to market and loan mods that won’t be able to be done. Rates are really driving peoples purchasing decisions right now.
June 11, 2009 at 2:10 AM in reply to: Who has the best 10/1 or 30-year fixed I/O programs? (pls don’t laugh) #413702ParticipantThe premium on I/O loans is much higher now than during the boom so the cash flow benefit is greatly reduced.
June 11, 2009 at 2:10 AM in reply to: Who has the best 10/1 or 30-year fixed I/O programs? (pls don’t laugh) #413942ParticipantThe premium on I/O loans is much higher now than during the boom so the cash flow benefit is greatly reduced.
June 11, 2009 at 2:10 AM in reply to: Who has the best 10/1 or 30-year fixed I/O programs? (pls don’t laugh) #414191ParticipantThe premium on I/O loans is much higher now than during the boom so the cash flow benefit is greatly reduced.
June 11, 2009 at 2:10 AM in reply to: Who has the best 10/1 or 30-year fixed I/O programs? (pls don’t laugh) #414260ParticipantThe premium on I/O loans is much higher now than during the boom so the cash flow benefit is greatly reduced.
June 11, 2009 at 2:10 AM in reply to: Who has the best 10/1 or 30-year fixed I/O programs? (pls don’t laugh) #414414ParticipantThe premium on I/O loans is much higher now than during the boom so the cash flow benefit is greatly reduced.
ParticipantI could replicate Eugene’s results on sdarcc.com by going to “Recorder Grantor/Grantee Index ” then advance search and selecting trustee’s deed and the setting the date range.
But I also watch the trustee posting service sites like Priority posting and fidelity asap and I just don’t see a spike in trustee sales.
I can’t explain the sdarcc data without seeing all the deeds. I’m wondering if they are adding more parties to the deed to facilitate some of the reporting requirements to the state or something along those lines (we just had a change in foreclosures due to AB 7 x2 that might be driving it).
I can’t replicate the OP data using the realtytrac free site. My data comes from the foreclosureradar service which I pay for.
ParticipantI could replicate Eugene’s results on sdarcc.com by going to “Recorder Grantor/Grantee Index ” then advance search and selecting trustee’s deed and the setting the date range.
But I also watch the trustee posting service sites like Priority posting and fidelity asap and I just don’t see a spike in trustee sales.
I can’t explain the sdarcc data without seeing all the deeds. I’m wondering if they are adding more parties to the deed to facilitate some of the reporting requirements to the state or something along those lines (we just had a change in foreclosures due to AB 7 x2 that might be driving it).
I can’t replicate the OP data using the realtytrac free site. My data comes from the foreclosureradar service which I pay for.
ParticipantI could replicate Eugene’s results on sdarcc.com by going to “Recorder Grantor/Grantee Index ” then advance search and selecting trustee’s deed and the setting the date range.
But I also watch the trustee posting service sites like Priority posting and fidelity asap and I just don’t see a spike in trustee sales.
I can’t explain the sdarcc data without seeing all the deeds. I’m wondering if they are adding more parties to the deed to facilitate some of the reporting requirements to the state or something along those lines (we just had a change in foreclosures due to AB 7 x2 that might be driving it).
I can’t replicate the OP data using the realtytrac free site. My data comes from the foreclosureradar service which I pay for.
ParticipantI could replicate Eugene’s results on sdarcc.com by going to “Recorder Grantor/Grantee Index ” then advance search and selecting trustee’s deed and the setting the date range.
But I also watch the trustee posting service sites like Priority posting and fidelity asap and I just don’t see a spike in trustee sales.
I can’t explain the sdarcc data without seeing all the deeds. I’m wondering if they are adding more parties to the deed to facilitate some of the reporting requirements to the state or something along those lines (we just had a change in foreclosures due to AB 7 x2 that might be driving it).
I can’t replicate the OP data using the realtytrac free site. My data comes from the foreclosureradar service which I pay for.
ParticipantI could replicate Eugene’s results on sdarcc.com by going to “Recorder Grantor/Grantee Index ” then advance search and selecting trustee’s deed and the setting the date range.
But I also watch the trustee posting service sites like Priority posting and fidelity asap and I just don’t see a spike in trustee sales.
I can’t explain the sdarcc data without seeing all the deeds. I’m wondering if they are adding more parties to the deed to facilitate some of the reporting requirements to the state or something along those lines (we just had a change in foreclosures due to AB 7 x2 that might be driving it).
I can’t replicate the OP data using the realtytrac free site. My data comes from the foreclosureradar service which I pay for.
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