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February 24, 2008 at 9:38 AM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #159187February 24, 2008 at 9:38 AM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #159264
jpinpb
ParticipantI understand your point SD Realtor. I think I may have misunderstood and I was actually have the same thoughts, that affordability is relative.
February 23, 2008 at 6:05 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158573ParticipantSD Realtor – Don’t you think that many of these homes in foreclosure WERE affordable by many w/the teaser rate? It became unaffordable when the rates set. Also, we cannot dimiss entirely the rate of appreciation in a very short time was caused by so many factors. Hence, don’t you think the unjustified price increase will decrease. If you factor everything that caused the bubble, don’t you think we can expect homes to decrease and become affordable.
I think we have to speak in relative terms, of course. Will someone earning a median income be able to afford a home in RSF. Probably not. Certainly they can easily afford City Heights, but probably prefer not to. But, if their expectations are adjusted along w/the price of homes, they may be happy and be able to afford a home in a median priced neighborhood, maybe w/a little effort, an upper/median neighborhood.
February 23, 2008 at 6:05 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158863ParticipantSD Realtor – Don’t you think that many of these homes in foreclosure WERE affordable by many w/the teaser rate? It became unaffordable when the rates set. Also, we cannot dimiss entirely the rate of appreciation in a very short time was caused by so many factors. Hence, don’t you think the unjustified price increase will decrease. If you factor everything that caused the bubble, don’t you think we can expect homes to decrease and become affordable.
I think we have to speak in relative terms, of course. Will someone earning a median income be able to afford a home in RSF. Probably not. Certainly they can easily afford City Heights, but probably prefer not to. But, if their expectations are adjusted along w/the price of homes, they may be happy and be able to afford a home in a median priced neighborhood, maybe w/a little effort, an upper/median neighborhood.
February 23, 2008 at 6:05 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158874ParticipantSD Realtor – Don’t you think that many of these homes in foreclosure WERE affordable by many w/the teaser rate? It became unaffordable when the rates set. Also, we cannot dimiss entirely the rate of appreciation in a very short time was caused by so many factors. Hence, don’t you think the unjustified price increase will decrease. If you factor everything that caused the bubble, don’t you think we can expect homes to decrease and become affordable.
I think we have to speak in relative terms, of course. Will someone earning a median income be able to afford a home in RSF. Probably not. Certainly they can easily afford City Heights, but probably prefer not to. But, if their expectations are adjusted along w/the price of homes, they may be happy and be able to afford a home in a median priced neighborhood, maybe w/a little effort, an upper/median neighborhood.
February 23, 2008 at 6:05 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158884ParticipantSD Realtor – Don’t you think that many of these homes in foreclosure WERE affordable by many w/the teaser rate? It became unaffordable when the rates set. Also, we cannot dimiss entirely the rate of appreciation in a very short time was caused by so many factors. Hence, don’t you think the unjustified price increase will decrease. If you factor everything that caused the bubble, don’t you think we can expect homes to decrease and become affordable.
I think we have to speak in relative terms, of course. Will someone earning a median income be able to afford a home in RSF. Probably not. Certainly they can easily afford City Heights, but probably prefer not to. But, if their expectations are adjusted along w/the price of homes, they may be happy and be able to afford a home in a median priced neighborhood, maybe w/a little effort, an upper/median neighborhood.
February 23, 2008 at 6:05 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158957ParticipantSD Realtor – Don’t you think that many of these homes in foreclosure WERE affordable by many w/the teaser rate? It became unaffordable when the rates set. Also, we cannot dimiss entirely the rate of appreciation in a very short time was caused by so many factors. Hence, don’t you think the unjustified price increase will decrease. If you factor everything that caused the bubble, don’t you think we can expect homes to decrease and become affordable.
I think we have to speak in relative terms, of course. Will someone earning a median income be able to afford a home in RSF. Probably not. Certainly they can easily afford City Heights, but probably prefer not to. But, if their expectations are adjusted along w/the price of homes, they may be happy and be able to afford a home in a median priced neighborhood, maybe w/a little effort, an upper/median neighborhood.
February 23, 2008 at 5:39 PM in reply to: Northern Virginia: An auction is no longer a hot property #158543ParticipantThat was a funny and sad story, and the last line, forever optimistic.
February 23, 2008 at 5:39 PM in reply to: Northern Virginia: An auction is no longer a hot property #158833ParticipantThat was a funny and sad story, and the last line, forever optimistic.
February 23, 2008 at 5:39 PM in reply to: Northern Virginia: An auction is no longer a hot property #158845ParticipantThat was a funny and sad story, and the last line, forever optimistic.
February 23, 2008 at 5:39 PM in reply to: Northern Virginia: An auction is no longer a hot property #158855ParticipantThat was a funny and sad story, and the last line, forever optimistic.
February 23, 2008 at 5:39 PM in reply to: Northern Virginia: An auction is no longer a hot property #158927ParticipantThat was a funny and sad story, and the last line, forever optimistic.
February 23, 2008 at 5:11 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158512ParticipantI’m a fence sitter. We have good credit and some $$$. We don’t want to go in over our heads and be mortgage slaves, but we have certain criteria that would push us over our comfort level, so we’re waiting so as to not have to compromise too much. I’m being thanked now for not buying 2 to 3 years ago, but that was a problem, pressured to buy. Not so easy to wait for the right one, but I’m sure it will be worth it.
February 23, 2008 at 5:11 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158803ParticipantI’m a fence sitter. We have good credit and some $$$. We don’t want to go in over our heads and be mortgage slaves, but we have certain criteria that would push us over our comfort level, so we’re waiting so as to not have to compromise too much. I’m being thanked now for not buying 2 to 3 years ago, but that was a problem, pressured to buy. Not so easy to wait for the right one, but I’m sure it will be worth it.
February 23, 2008 at 5:11 PM in reply to: 2 questions, Are short sale prices just fantasy? and Where are the fence sitters? #158815ParticipantI’m a fence sitter. We have good credit and some $$$. We don’t want to go in over our heads and be mortgage slaves, but we have certain criteria that would push us over our comfort level, so we’re waiting so as to not have to compromise too much. I’m being thanked now for not buying 2 to 3 years ago, but that was a problem, pressured to buy. Not so easy to wait for the right one, but I’m sure it will be worth it.
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