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(former)FormerSanDiegan
Participant[quote=jpinpb]Did you see Page 32, As of May 2009, Percent of ARMs……To Reset Next 24+ Months, 40.4%.
Inventory for San Diego county, according to SDL is 16,040.[/quote]
5-year ARMs that originated in 2005 with typical start rates of 5.5-6% would require today’s 12-month LIBOR rate to triple for the new rate to exceed the start rate …
ParticipantIt’s been a while… here’s an update …
2010
March 12-month LIBOR: 0.84
fully-indexed ARM reset RATE : 3.125%April 12-month LIBOR: 0.92
fully-indexed ARM reset RATE : 3.25%May 12-month LIBOR: 1.01
fully-indexed ARM reset RATE : 3.375%June 12-month LIBOR: 1.2
fully-indexed ARM reset RATE : 3.5%July 12-month LIBOR: 1.17
fully-indexed ARM reset RATE : 3.5%Short term rates would have to increase by 2-2.5% from today’s rates to exceed the start rates of 5.5%-6% for the 5-year ARMs originating in 2005.
ParticipantIt’s been a while… here’s an update …
2010
March 12-month LIBOR: 0.84
fully-indexed ARM reset RATE : 3.125%April 12-month LIBOR: 0.92
fully-indexed ARM reset RATE : 3.25%May 12-month LIBOR: 1.01
fully-indexed ARM reset RATE : 3.375%June 12-month LIBOR: 1.2
fully-indexed ARM reset RATE : 3.5%July 12-month LIBOR: 1.17
fully-indexed ARM reset RATE : 3.5%Short term rates would have to increase by 2-2.5% from today’s rates to exceed the start rates of 5.5%-6% for the 5-year ARMs originating in 2005.
ParticipantIt’s been a while… here’s an update …
2010
March 12-month LIBOR: 0.84
fully-indexed ARM reset RATE : 3.125%April 12-month LIBOR: 0.92
fully-indexed ARM reset RATE : 3.25%May 12-month LIBOR: 1.01
fully-indexed ARM reset RATE : 3.375%June 12-month LIBOR: 1.2
fully-indexed ARM reset RATE : 3.5%July 12-month LIBOR: 1.17
fully-indexed ARM reset RATE : 3.5%Short term rates would have to increase by 2-2.5% from today’s rates to exceed the start rates of 5.5%-6% for the 5-year ARMs originating in 2005.
ParticipantIt’s been a while… here’s an update …
2010
March 12-month LIBOR: 0.84
fully-indexed ARM reset RATE : 3.125%April 12-month LIBOR: 0.92
fully-indexed ARM reset RATE : 3.25%May 12-month LIBOR: 1.01
fully-indexed ARM reset RATE : 3.375%June 12-month LIBOR: 1.2
fully-indexed ARM reset RATE : 3.5%July 12-month LIBOR: 1.17
fully-indexed ARM reset RATE : 3.5%Short term rates would have to increase by 2-2.5% from today’s rates to exceed the start rates of 5.5%-6% for the 5-year ARMs originating in 2005.
ParticipantIt’s been a while… here’s an update …
2010
March 12-month LIBOR: 0.84
fully-indexed ARM reset RATE : 3.125%April 12-month LIBOR: 0.92
fully-indexed ARM reset RATE : 3.25%May 12-month LIBOR: 1.01
fully-indexed ARM reset RATE : 3.375%June 12-month LIBOR: 1.2
fully-indexed ARM reset RATE : 3.5%July 12-month LIBOR: 1.17
fully-indexed ARM reset RATE : 3.5%Short term rates would have to increase by 2-2.5% from today’s rates to exceed the start rates of 5.5%-6% for the 5-year ARMs originating in 2005.
Participant[quote=FormerSanDiegan]I have no experience with out-of-town rentals.
[/quote]
Sorry, meant to write out-of-STATE rentals. We currently live in LA county and have a rental prop in San Diego (use a Property manager that we used when we lived in SD county, though).
I agree with briansd1. Even though we have PM, it is good to drive by a few times a year and be able to visit easily if/when something major comes up.
Participant[quote=FormerSanDiegan]I have no experience with out-of-town rentals.
[/quote]
Sorry, meant to write out-of-STATE rentals. We currently live in LA county and have a rental prop in San Diego (use a Property manager that we used when we lived in SD county, though).
I agree with briansd1. Even though we have PM, it is good to drive by a few times a year and be able to visit easily if/when something major comes up.
Participant[quote=FormerSanDiegan]I have no experience with out-of-town rentals.
[/quote]
Sorry, meant to write out-of-STATE rentals. We currently live in LA county and have a rental prop in San Diego (use a Property manager that we used when we lived in SD county, though).
I agree with briansd1. Even though we have PM, it is good to drive by a few times a year and be able to visit easily if/when something major comes up.
Participant[quote=FormerSanDiegan]I have no experience with out-of-town rentals.
[/quote]
Sorry, meant to write out-of-STATE rentals. We currently live in LA county and have a rental prop in San Diego (use a Property manager that we used when we lived in SD county, though).
I agree with briansd1. Even though we have PM, it is good to drive by a few times a year and be able to visit easily if/when something major comes up.
Participant[quote=FormerSanDiegan]I have no experience with out-of-town rentals.
[/quote]
Sorry, meant to write out-of-STATE rentals. We currently live in LA county and have a rental prop in San Diego (use a Property manager that we used when we lived in SD county, though).
I agree with briansd1. Even though we have PM, it is good to drive by a few times a year and be able to visit easily if/when something major comes up.
ParticipantI have no experience with out-of-town rentals.
We started by moving to a new (well, new to us) house and renting out our primary residence. In that case we had lived in the nighborhood for 4 years, knew the property condition inside and out and knew the rental market. We sold after a couple years to retain the tax-free capital gains (at that time it was not pro-rated as it is now) and invested the proceeds in another rental property.
By the time we pruchased the second rental property we were familiar with the tax consequenses and other factors in dealing with rental property. This takes some time to implement, but I think it is the best way to start out.
ParticipantI have no experience with out-of-town rentals.
We started by moving to a new (well, new to us) house and renting out our primary residence. In that case we had lived in the nighborhood for 4 years, knew the property condition inside and out and knew the rental market. We sold after a couple years to retain the tax-free capital gains (at that time it was not pro-rated as it is now) and invested the proceeds in another rental property.
By the time we pruchased the second rental property we were familiar with the tax consequenses and other factors in dealing with rental property. This takes some time to implement, but I think it is the best way to start out.
ParticipantI have no experience with out-of-town rentals.
We started by moving to a new (well, new to us) house and renting out our primary residence. In that case we had lived in the nighborhood for 4 years, knew the property condition inside and out and knew the rental market. We sold after a couple years to retain the tax-free capital gains (at that time it was not pro-rated as it is now) and invested the proceeds in another rental property.
By the time we pruchased the second rental property we were familiar with the tax consequenses and other factors in dealing with rental property. This takes some time to implement, but I think it is the best way to start out.
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