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August 10, 2007 at 7:57 AM in reply to: Bush addresses the nation on the economy and the stock market tanks. Irony #72806
(former)FormerSanDiegan
ParticipantOh, and one more thing. If your agent is not helpful, then fire them.
ParticipantOh, and one more thing. If your agent is not helpful, then fire them.
ParticipantOh, and one more thing. If your agent is not helpful, then fire them.
ParticipantI would at least consider running the numbers on renting it.
How hefty could the property tax be ? 4K ?
If that amount of money causes a problem for you then you are not a good candidate to be a landlord.However, depending on your local market, it might be that only the best condition homes will sell. There are likely few buyers for POS estate sales. If there is no market for selling it, I would consider renting it out.
If you get 1200 per month, that might equate to 900 or so after expenses. You would need about 215K in cash at 5% to pay you that much. If you cut the price to much below 250K you probably would be about break-even in this comparison. Plus, depending on your tax circumstances you might get an additional take break for paper losses due to depreciation. Run the numbers carefully, then make a decision.
ParticipantI would at least consider running the numbers on renting it.
How hefty could the property tax be ? 4K ?
If that amount of money causes a problem for you then you are not a good candidate to be a landlord.However, depending on your local market, it might be that only the best condition homes will sell. There are likely few buyers for POS estate sales. If there is no market for selling it, I would consider renting it out.
If you get 1200 per month, that might equate to 900 or so after expenses. You would need about 215K in cash at 5% to pay you that much. If you cut the price to much below 250K you probably would be about break-even in this comparison. Plus, depending on your tax circumstances you might get an additional take break for paper losses due to depreciation. Run the numbers carefully, then make a decision.
ParticipantI would at least consider running the numbers on renting it.
How hefty could the property tax be ? 4K ?
If that amount of money causes a problem for you then you are not a good candidate to be a landlord.However, depending on your local market, it might be that only the best condition homes will sell. There are likely few buyers for POS estate sales. If there is no market for selling it, I would consider renting it out.
If you get 1200 per month, that might equate to 900 or so after expenses. You would need about 215K in cash at 5% to pay you that much. If you cut the price to much below 250K you probably would be about break-even in this comparison. Plus, depending on your tax circumstances you might get an additional take break for paper losses due to depreciation. Run the numbers carefully, then make a decision.
ParticipantOne could also simply bet against the dollar using ETFs, such as UDN which shorts the dollar or FXY which bets on a stronger Yen (relative to the dollar). There are others.
ParticipantOne could also simply bet against the dollar using ETFs, such as UDN which shorts the dollar or FXY which bets on a stronger Yen (relative to the dollar). There are others.
ParticipantOne could also simply bet against the dollar using ETFs, such as UDN which shorts the dollar or FXY which bets on a stronger Yen (relative to the dollar). There are others.
ParticipantDoes this person believe that prices have NOT already fallen ?
Just save your breath and drop the newspaper on their desk when it becomes more obvious. My guess is that even the median price will show a significant decline by October or so.
ParticipantDoes this person believe that prices have NOT already fallen ?
Just save your breath and drop the newspaper on their desk when it becomes more obvious. My guess is that even the median price will show a significant decline by October or so.
ParticipantDoes this person believe that prices have NOT already fallen ?
Just save your breath and drop the newspaper on their desk when it becomes more obvious. My guess is that even the median price will show a significant decline by October or so.
August 8, 2007 at 9:55 AM in reply to: Why are Jumbo loan rates (aka. california loan rates) sky-rocketing #71748Participantbsrsharma hit it pretty close.
There are still jumbo loans but there is an increase in rate to compensate for perceived (and real) increase in risk.
bob007, this is not a regulation change, it’s a change in the marketplace. The conforming loan limit has always been the maximum amount that the Government Sponsored Enterprises ( GSEs are FNMA or “Fannie Mae” and Freddie Mac … I forget the initials for old Fred) could purchase.
These entities were created to provide a secondary market for mortgage loans. The secondary market for loans above the conforming loan limit consists of many market participants, who are now scared of mortgage-backed securities and are either not buying the loans or are requiring much larger interest rate spreads to take on the risk.August 8, 2007 at 9:55 AM in reply to: Why are Jumbo loan rates (aka. california loan rates) sky-rocketing #71864Participantbsrsharma hit it pretty close.
There are still jumbo loans but there is an increase in rate to compensate for perceived (and real) increase in risk.
bob007, this is not a regulation change, it’s a change in the marketplace. The conforming loan limit has always been the maximum amount that the Government Sponsored Enterprises ( GSEs are FNMA or “Fannie Mae” and Freddie Mac … I forget the initials for old Fred) could purchase.
These entities were created to provide a secondary market for mortgage loans. The secondary market for loans above the conforming loan limit consists of many market participants, who are now scared of mortgage-backed securities and are either not buying the loans or are requiring much larger interest rate spreads to take on the risk. -
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