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August 7, 2007 at 9:30 AM in reply to: Purchasing at the top just got pricier, the market is now being squeezed from two fronts #71274August 7, 2007 at 9:30 AM in reply to: Purchasing at the top just got pricier, the market is now being squeezed from two fronts #71387
kev374
Participantwell, considering that jumbo loans are anything over $417,000 it means that in SoCal this applies to virtually all financing activity. So instead of saying market is getting squeezed from both sides I would just say the market is getting squeezed 😀
August 7, 2007 at 9:30 AM in reply to: Purchasing at the top just got pricier, the market is now being squeezed from two fronts #71394Participantwell, considering that jumbo loans are anything over $417,000 it means that in SoCal this applies to virtually all financing activity. So instead of saying market is getting squeezed from both sides I would just say the market is getting squeezed 😀
August 5, 2007 at 10:28 PM in reply to: Conversation with another friend in the “innards” of the mortgage industry #70717ParticipantHereWeGo, people can’t just refi since the availability of credit is not as before…many of these people will just not get access to the credit to refi.
August 5, 2007 at 10:28 PM in reply to: Conversation with another friend in the “innards” of the mortgage industry #70832ParticipantHereWeGo, people can’t just refi since the availability of credit is not as before…many of these people will just not get access to the credit to refi.
August 5, 2007 at 10:28 PM in reply to: Conversation with another friend in the “innards” of the mortgage industry #70839ParticipantHereWeGo, people can’t just refi since the availability of credit is not as before…many of these people will just not get access to the credit to refi.
Participantfor prices to come down sharply there has to be a psychology shift. And what you mention may be the factor that causes it to happen. It’s possible that when sales drop off a cliff sellers with equity will start panicking and realize that they better start undercutting to realize whatever gains they can. It’s the “better get something than lose it all” train of thought.
Participantfor prices to come down sharply there has to be a psychology shift. And what you mention may be the factor that causes it to happen. It’s possible that when sales drop off a cliff sellers with equity will start panicking and realize that they better start undercutting to realize whatever gains they can. It’s the “better get something than lose it all” train of thought.
Participantthis was expected of course!!
Participantthis was expected of course!!
ParticipantThe problem is that even now there are creative financing schemes that are keeping this circus alive… http://www.quickenloans.com is an example. People with “good credit” (mid 600s FICO) can still get creative financing schemes and that is just prolonging this madness. When will it TRULY end?
ParticipantThe problem is that even now there are creative financing schemes that are keeping this circus alive… http://www.quickenloans.com is an example. People with “good credit” (mid 600s FICO) can still get creative financing schemes and that is just prolonging this madness. When will it TRULY end?
ParticipantNeighborhoods Considering: Mission Viejo, Irvine, Laguna Niguel, Aliso Viejo, Lake Forest, Dana Point
Condo/House: SFR
Price Range: $375-$400K
Size Range: 1500-1700 sq-ft 3bd
Currently (Rent/Own): Rent
Shopping the Market?: Not looking until prices drop 25-30%, if this doesn’t happen in the next 2 yrs will be relocating.ParticipantNeighborhoods Considering: Mission Viejo, Irvine, Laguna Niguel, Aliso Viejo, Lake Forest, Dana Point
Condo/House: SFR
Price Range: $375-$400K
Size Range: 1500-1700 sq-ft 3bd
Currently (Rent/Own): Rent
Shopping the Market?: Not looking until prices drop 25-30%, if this doesn’t happen in the next 2 yrs will be relocating.ParticipantThe RE market is totally dead! My cousins have been Mortgage Brokers for the last 15 years and they tell me it’s never ever been so bad, not even in the 90s. Infact, they are having hard time getting enough business to cover their overheads. 2 other people I know, also Loan Officers, tell me the same thing. You better do some more research on this topic.
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