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larrylujack
ParticipantLBB,
sorry about the rant, my opinion is if you have been responsible worked hard and paid the bills and have a top notch credit, you should not be penalized by living in a high cost state like CA or NY and forced to get a jumbo, that is all.good luck to you.
LL
ParticipantI don’t get why you seem so bitter about increasing the fha limits, and why you refer to it as a “bailout.” The 417k is merely an arbitrary valuation and has nothing to do with the ability to pay the loan back. If the person is entitled to the loan based upon credit worthiness, and has met all other qualifications, what th f…k difference does it make to you and why do you care as long as the loan has a very good chance of being paid back? There is no difference between that and a loan 417k or less, the key is credit worthiness, not the total amount.
if your so upset about uncle sam holding the bag, what about the continual pissing away of billions on a pointless war in Iraq that going to lead to real inflation just like after the vietnam war!!! Oh, that’s right, its not called a bailout when the recipients of the government billions are Halliburton and Blackwater, its called the war on terror.. all cwide needs is a new pr person to refer to the housing crisis as a terrorist plot.
give me a break!!!
LLParticipant4s sucks, I have no idea why people like that place other than that it is newer. UTC will hold up better long term due to UCSD/La Jolla location (not that I like it any better).
I’d wait a few more months to see how things play out. besides, a crummy detached 1500 sq ft home in clairmont with a dirt front yard and a wrecked car in your neighbors front yard should be easily had with that amount given all the tapped out tweekers that will be in foreclosure soon.Participantshades of the s and l crisis (remember that?) and laissez faire capitalism, not surprising at all- what did you expect from an admirer of Ayn Rand anyway?
Participantgn,
“For $1.5 – $2 millions, one can buy a large house in Rancho Santa Fe.”
really, where? No way, no how.
Even if you could get one in that range in cielo/crosby, really these areas don’t count cause they are closer to del dios than rsf, and the hoa and mello-roos fees are horrific.Participantagreed. been looking in 92064 in the 1.3 to 1.8 mil range for the past 6+ months, and these properties are selling and continue to go into escrow. NOT a single property I was seriously interested in (a few I have made offers on also) has fallen out of escrow, so clearly there are those that are either paying cash or don’t mind the extra .5% for a jumbo loan. let’s face it, folks in this range don’t seem to be as affected and an extra .5% on a jumbo loan is not a make or break deal. prices have softened a bit and there are a couple high end distressed ones, but for the most part, prices are holding up quite well to my chagrine.
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