Forum Replies Created
-
AuthorPosts
-
livinincali
ParticipantAfter itemizing taxes especially with the mortgage interest deduction you’d probably have to make a little over $100K gross to get the full credit. For example you could pay CA 4,000 dollars, normally get back 1,200 and then the tax credit would be worth 2,800 instead of 3,333. I guess the way to look at it is you won’t be paying CA taxes for the next 3 years but that might not add up to 10,000.
The other thing to think about is the stipulation in the bill that if too many people take the credit then the amount you receive will be reduced. I.e. the first time buyer credit can be reduced to a total of 5,700 or 1900 a year if too many people take it and the money runs out. There’s 100 million dollars for the first time buyers credit but it’s difficult to estimate how far that money will go because not everyone will get the full amount. I’d assume that once 15K to 20K homes are sold to first time buyers there will be some deduction in payment.
ParticipantIt’s been previous obvious to me as a casual observer that the typically middle class markets are seeing a pretty significant increase in inventory (92126- Mira Mesa went from <100 units in the middle of last summer to 180+ now), but inventory increase is kind of expected during this time of year. You are seeing the signs of flipper type properties just based on the listing comments. Flipper properties often tend to have those catchy marketing phrases that bank owned, short sales, and organic properties don't necessary have (dream house, won't last long, upgraded....).
I think it will be interesting to see what happens as the tax credit expires and interest rates move up. The 10 year treasury just hit 4% again today and the fed is supposedly done with Quantitative Easing for the time being. If I was playing the flipping game I'd probably step away for a bit based on what I've heard. Maybe wait for things to settle down a bit and try again in Oct-Dec 2010 for spring 2011. This spring/summer might not act like the typical market at least in the low end/middle. That fringe middle/low end buyer probably sits out until next spring if they don't get in by the end of April. If they can't stretch it to get $8,000 right now they wait for inventory and prices to improve.
ParticipantIt’s been previous obvious to me as a casual observer that the typically middle class markets are seeing a pretty significant increase in inventory (92126- Mira Mesa went from <100 units in the middle of last summer to 180+ now), but inventory increase is kind of expected during this time of year. You are seeing the signs of flipper type properties just based on the listing comments. Flipper properties often tend to have those catchy marketing phrases that bank owned, short sales, and organic properties don't necessary have (dream house, won't last long, upgraded....).
I think it will be interesting to see what happens as the tax credit expires and interest rates move up. The 10 year treasury just hit 4% again today and the fed is supposedly done with Quantitative Easing for the time being. If I was playing the flipping game I'd probably step away for a bit based on what I've heard. Maybe wait for things to settle down a bit and try again in Oct-Dec 2010 for spring 2011. This spring/summer might not act like the typical market at least in the low end/middle. That fringe middle/low end buyer probably sits out until next spring if they don't get in by the end of April. If they can't stretch it to get $8,000 right now they wait for inventory and prices to improve.
ParticipantIt’s been previous obvious to me as a casual observer that the typically middle class markets are seeing a pretty significant increase in inventory (92126- Mira Mesa went from <100 units in the middle of last summer to 180+ now), but inventory increase is kind of expected during this time of year. You are seeing the signs of flipper type properties just based on the listing comments. Flipper properties often tend to have those catchy marketing phrases that bank owned, short sales, and organic properties don't necessary have (dream house, won't last long, upgraded....).
I think it will be interesting to see what happens as the tax credit expires and interest rates move up. The 10 year treasury just hit 4% again today and the fed is supposedly done with Quantitative Easing for the time being. If I was playing the flipping game I'd probably step away for a bit based on what I've heard. Maybe wait for things to settle down a bit and try again in Oct-Dec 2010 for spring 2011. This spring/summer might not act like the typical market at least in the low end/middle. That fringe middle/low end buyer probably sits out until next spring if they don't get in by the end of April. If they can't stretch it to get $8,000 right now they wait for inventory and prices to improve.
ParticipantIt’s been previous obvious to me as a casual observer that the typically middle class markets are seeing a pretty significant increase in inventory (92126- Mira Mesa went from <100 units in the middle of last summer to 180+ now), but inventory increase is kind of expected during this time of year. You are seeing the signs of flipper type properties just based on the listing comments. Flipper properties often tend to have those catchy marketing phrases that bank owned, short sales, and organic properties don't necessary have (dream house, won't last long, upgraded....).
I think it will be interesting to see what happens as the tax credit expires and interest rates move up. The 10 year treasury just hit 4% again today and the fed is supposedly done with Quantitative Easing for the time being. If I was playing the flipping game I'd probably step away for a bit based on what I've heard. Maybe wait for things to settle down a bit and try again in Oct-Dec 2010 for spring 2011. This spring/summer might not act like the typical market at least in the low end/middle. That fringe middle/low end buyer probably sits out until next spring if they don't get in by the end of April. If they can't stretch it to get $8,000 right now they wait for inventory and prices to improve.
ParticipantIt’s been previous obvious to me as a casual observer that the typically middle class markets are seeing a pretty significant increase in inventory (92126- Mira Mesa went from <100 units in the middle of last summer to 180+ now), but inventory increase is kind of expected during this time of year. You are seeing the signs of flipper type properties just based on the listing comments. Flipper properties often tend to have those catchy marketing phrases that bank owned, short sales, and organic properties don't necessary have (dream house, won't last long, upgraded....).
I think it will be interesting to see what happens as the tax credit expires and interest rates move up. The 10 year treasury just hit 4% again today and the fed is supposedly done with Quantitative Easing for the time being. If I was playing the flipping game I'd probably step away for a bit based on what I've heard. Maybe wait for things to settle down a bit and try again in Oct-Dec 2010 for spring 2011. This spring/summer might not act like the typical market at least in the low end/middle. That fringe middle/low end buyer probably sits out until next spring if they don't get in by the end of April. If they can't stretch it to get $8,000 right now they wait for inventory and prices to improve.
ParticipantThe Market Ticker – Similar to Mish but slightly more Bearish and “ranty”
http://market-ticker.denninger.net/Zero Hedge – Another insightful blog on the underlying dynamics of Wallstreet, some of the stuff is deep in depth trading stuff so might go over the average person’s head.
http://www.zerohedge.com/Calculated Risk – Great source of charts and other economic data with brief commentary.
http://www.calculatedriskblog.com/ParticipantThe Market Ticker – Similar to Mish but slightly more Bearish and “ranty”
http://market-ticker.denninger.net/Zero Hedge – Another insightful blog on the underlying dynamics of Wallstreet, some of the stuff is deep in depth trading stuff so might go over the average person’s head.
http://www.zerohedge.com/Calculated Risk – Great source of charts and other economic data with brief commentary.
http://www.calculatedriskblog.com/ParticipantThe Market Ticker – Similar to Mish but slightly more Bearish and “ranty”
http://market-ticker.denninger.net/Zero Hedge – Another insightful blog on the underlying dynamics of Wallstreet, some of the stuff is deep in depth trading stuff so might go over the average person’s head.
http://www.zerohedge.com/Calculated Risk – Great source of charts and other economic data with brief commentary.
http://www.calculatedriskblog.com/ParticipantThe Market Ticker – Similar to Mish but slightly more Bearish and “ranty”
http://market-ticker.denninger.net/Zero Hedge – Another insightful blog on the underlying dynamics of Wallstreet, some of the stuff is deep in depth trading stuff so might go over the average person’s head.
http://www.zerohedge.com/Calculated Risk – Great source of charts and other economic data with brief commentary.
http://www.calculatedriskblog.com/ParticipantThe Market Ticker – Similar to Mish but slightly more Bearish and “ranty”
http://market-ticker.denninger.net/Zero Hedge – Another insightful blog on the underlying dynamics of Wallstreet, some of the stuff is deep in depth trading stuff so might go over the average person’s head.
http://www.zerohedge.com/Calculated Risk – Great source of charts and other economic data with brief commentary.
http://www.calculatedriskblog.com/ -
AuthorPosts
