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(former)FormerSanDiegan
ParticipantThat rate sounds like JUMBO-conforming (e.g. less than 697K).
Who is the lender
1/2 point at the max is still only a few grand. In the scheme of building a house that very tolerable (Its the same amount you would pay for a couple months extra rent during construction)
If you think the contractor will finish in time, and that it will easily appraise at 60-70% LTV. Lock it, No Brainer.
Biggest worries:
1. Are we done yet ?
If you are still 180 days from completion, it is not possible to predict a completion date with any degree of accuracy. (Well, at least that’s my experience from a grand total of one major 4-month remodel that became 8 months).2. Appraisals. Banks are very conservative on appraisals. If you are in the 50% LTV range you have no worries. If, in your opinion the LTV is in the 70-80% range, a conservative appraisal 6 months from now could put you above 80% LTV.
ParticipantRegarding the AIG bailout bonus scandal:
Frankly, I am more concerned about what they have
done with the other 169.835 Billion dollars than
what they did with the 0.165 Billion in bonuses.It’s as if we gave our kid in college an extra $500 in allowance last month, primarily to cover his credit card bill, then getting pissed that he spent 50 cents on a candy bar.
ParticipantRegarding the AIG bailout bonus scandal:
Frankly, I am more concerned about what they have
done with the other 169.835 Billion dollars than
what they did with the 0.165 Billion in bonuses.It’s as if we gave our kid in college an extra $500 in allowance last month, primarily to cover his credit card bill, then getting pissed that he spent 50 cents on a candy bar.
ParticipantRegarding the AIG bailout bonus scandal:
Frankly, I am more concerned about what they have
done with the other 169.835 Billion dollars than
what they did with the 0.165 Billion in bonuses.It’s as if we gave our kid in college an extra $500 in allowance last month, primarily to cover his credit card bill, then getting pissed that he spent 50 cents on a candy bar.
ParticipantRegarding the AIG bailout bonus scandal:
Frankly, I am more concerned about what they have
done with the other 169.835 Billion dollars than
what they did with the 0.165 Billion in bonuses.It’s as if we gave our kid in college an extra $500 in allowance last month, primarily to cover his credit card bill, then getting pissed that he spent 50 cents on a candy bar.
ParticipantRegarding the AIG bailout bonus scandal:
Frankly, I am more concerned about what they have
done with the other 169.835 Billion dollars than
what they did with the 0.165 Billion in bonuses.It’s as if we gave our kid in college an extra $500 in allowance last month, primarily to cover his credit card bill, then getting pissed that he spent 50 cents on a candy bar.
Participant[quote=drboom]
we can’t afford to rent the house we’re proposing to buy. [/quote]My, how times have changed.
Participant[quote=drboom]
we can’t afford to rent the house we’re proposing to buy. [/quote]My, how times have changed.
Participant[quote=drboom]
we can’t afford to rent the house we’re proposing to buy. [/quote]My, how times have changed.
Participant[quote=drboom]
we can’t afford to rent the house we’re proposing to buy. [/quote]My, how times have changed.
Participant[quote=drboom]
we can’t afford to rent the house we’re proposing to buy. [/quote]My, how times have changed.
March 17, 2009 at 8:31 AM in reply to: Slow decline or is a big chunk about to be ripped out? #367638Participant[quote=Russell]
FSD,
Looks like you pretty much hit a dead ringer. If the rest comes true you will have one of the most consistently accurate records and I believe it predates this blog. Your future predictions seem likely.[/quote]Thanks. I just hope nobody digs up my 2006 post predicting a 27% decline over 5 years.
March 17, 2009 at 8:31 AM in reply to: Slow decline or is a big chunk about to be ripped out? #367927Participant[quote=Russell]
FSD,
Looks like you pretty much hit a dead ringer. If the rest comes true you will have one of the most consistently accurate records and I believe it predates this blog. Your future predictions seem likely.[/quote]Thanks. I just hope nobody digs up my 2006 post predicting a 27% decline over 5 years.
March 17, 2009 at 8:31 AM in reply to: Slow decline or is a big chunk about to be ripped out? #368096Participant[quote=Russell]
FSD,
Looks like you pretty much hit a dead ringer. If the rest comes true you will have one of the most consistently accurate records and I believe it predates this blog. Your future predictions seem likely.[/quote]Thanks. I just hope nobody digs up my 2006 post predicting a 27% decline over 5 years.
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