Forum Replies Created
-
AuthorPosts
-
gzz
ParticipantI want a bright green hatchback (or small hatchbacky CUV) with 180hp+. Not many ways to get this, the GTI S was one of them, though the green was so unpopular they killed it.
Golfs are sold in massive numbers in the third world, I doubt they are bad to maintain.
The plaid seats are ugly, but you don’t see them when you’re driving.
I might go for this. In 2020 they upgraded the engine from 130 to 169hp, and that neon blue is my second favorite color.
ParticipantWhat car/dealership Svelte?
I went to my local VW, they had a used 2018 with only 8k miles on it listed for 27k. A 2020 same model and specs has an MSRP of 30.5k and is sold all over the place for 27.5. So they are selling the used one 2 model years back for only $500 off.
I offered 24k, they didn’t even counter.
Participant.
Participant
ParticipantYou all made me curious, so I did a search of only FSBOs on Zillow.
Observations:
They did not look overpriced. Most were below or close to Zestimate, or else had a clear reason to be above like recent major renovations.
The number of FSBOs listed in Zillow was tiny, or at least the number of listings that Zillow gave that label to. Like 1:300 ratio to normal listings.
About 1/3 of the FSBOs are listings by investors, RE agents, or other people in the industry.
ParticipantI have done value analysis on a few distressed REITs.
The only one I thought worth investing in was shorting SPG at 100, a position I’ve half exited.
None of the others seemed worth going long or short.
The mall and shopping center REITs have a lot of
problems, but their loans are usually only secured by individual properties, and they trade for pretty close to their liquidation value.Without looking at that one, red flags are concentration in SF/NYC/Seattle with riots/covid/anti-landlord laws all being issues that hurt both current rent collections and future value.
“less leveraged”
That’s neither good nor bad in the abstract. Lots of low rate loans locked in for 40 years? Sign me up!
Participant“Very low class move” is exactly right.
From Mortgage News Daily:
So what’s the real reason?
Lender margins are wide. In other words, lenders haven’t dropped rates as much as the bond market would allow them to (a decision driven by necessity due to capacity constraints amid a refi boom and unprecedented workflow hurdles created by coronavirus rather than simple greed). FHFA sees the wider margins and concludes lenders have extra profit to spare. That money would help further the FHFA’s stated goal of building capital reserves of the GSEs sufficient to end the government’s conservatorship of the agencies. In simpler terms, FHFA is saying to lenders “I think some of your money should be our money instead.” Rest assured, this fee would never have been considered if rates were higher and lender margins were thinner. But since rates are so low, and margins are so wide, who’s going to complain? Plenty for everyone, right?
So who is going to complain?
Ultimately, homeowners. The mortgage community is going to get things started though. Reason being, lenders have tons of loans that are already locked with expiration dates after September 1st. They are going to have to eat 50bps on all those loans. For big lenders, this is 10s of millions of dollars in instantly vaporized profit.
Again, FHFA’s rationale is likely that lenders have excess profit anyway, so they can absorb this.
I truly hope that’s not their rationale, but if it is, they’re dumb. Any time regulators jack up fees for lenders, it’s the consumer that ends up paying. I’m not saying that because it sounds sensational, but because there is a consistent track record of correlation. In fact, lenders are ALREADY sending out reprice notifications to raise rates for those loans still eligible to lock today. In other words, if it’s not already locked, your refi just got hit for 0.5 points.
Does this affect purchases?
No. You’re in luck there. FHFA’s explanation, however, is further out of luck. Think about it… Why would “market and economic uncertainty” affect refinance mortgages and not purchases? I’ll tell you why… Many lenders currently have higher rates for refis vs purchases due to the insanely high refi demand. Those higher rates mean the lenders have higher margins and more profit on refis (more profit that the FHFA would like to take, but again… they’re actually taking it from consumers).
Does this suck as bad as it seems like it does?
Yes. It’s a bitter pill to swallow, and a very low class move given the issues facing society at the moment. Granted, the FHFA likely doesn’t see it that way. They likely don’t think or believe they’re taking money out of consumer’s pockets, but years and year of past precedent prove that’s exactly what’s about to happen.
Is there anything I can do to avoid this or make it better?
No. They’re the government. They’re here to help.
ParticipantThis is a COMPLETE OUTRAGE!!!
Doesn’t the Treasury still own nearly all of Fannie’s stock? Time to get a new board of directors.
The worst part is that it’s impossible to rush in an application, no way it can actually close before 9-1-20.
ParticipantThe article is about a Mickey D’s that’s a 2 minute walk from the photo.
“ Yet along the way I spent hours in this McDonald’s, talking with Loosey, a recovering crack cocaine addict, and others about their lives. The regulars showed me how this McDonald’s worked — how some people would head straight for the bathroom to buy drugs. How the small bags spilling out of an open backpack were heroin. How “dog food” was slang for “dope,” which was slang for heroin. How “crack cocaine” was still just crack. How synthetic marijuana, or “K2,” smelled.
Some did heroin in the bathroom. Some poured beers into clear McCafe cups or swallowed illicit prescription drugs, even in front of the McDonald’s janitorial staff, who seemed impossibly busy and beaten down and spoke only Spanish. The regulars themselves sometimes seemed impossibly beaten down. One cried as he drank King Cobra beer in a paper bag, spouting dreams of getting away from McDonald’s and moving to the country but with no way to figure out how to get there”
Who can identify this huge 90s hit without looking it up?
“I like the girls with the boom I once got busy in a Burger King bathroom”
Participant5th Ave looking pretty bad. Scroll down for the video:
I’ve never purchased anything in my life at a high end luxury store. But I appreciate their beautiful storefronts, and they can be interesting to browse a little.
Looks like the storefront of the Macy’s in spdrun’s photo is also boarded up. The most expensive rents in the USA don’t get you physical security. But the Burger King is “NOW OPEN”
ParticipantI don’t follow NCI carefully but I want a hobby farm there when I retire. 5-10 acres, good water, maybe 1 to 1.5m.
Rain maps say Valley Center has the most rain in SD Co. Seems nice to me.
ParticipantI’d say the past few months half the price reductions I’ve seen have been these “fake ones.” I’m not too concerned, probably at some point MLS software will be updated to stop promoting price reductions of less than 0.1%.
There’s also the infamous “raise price by $5,000, then weekly $1000 price cuts, then re-raise $5,000.”
With inventory so low, seems unnecessary to do anything to stand out from the crowd.
ParticipantAre you counting the $100 price reductions that seem pretty common?
ParticipantOuch! QCOM completely won its antitrust appeal today. Big win for local RE, makes me feel better.
-
AuthorPosts