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August 8, 2009 at 10:43 AM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #442599August 8, 2009 at 10:43 AM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #442936
patientrenter
Participantgeorge, I hope you get some good advice here from the experts. But you are planning to spend at least $2 million on one item, and you don’t want to engage a professional for a fee to help you make the best decision? Penny-wise, pound-foolish, perhaps?
August 8, 2009 at 10:43 AM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #443005Participantgeorge, I hope you get some good advice here from the experts. But you are planning to spend at least $2 million on one item, and you don’t want to engage a professional for a fee to help you make the best decision? Penny-wise, pound-foolish, perhaps?
August 8, 2009 at 10:43 AM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #443182Participantgeorge, I hope you get some good advice here from the experts. But you are planning to spend at least $2 million on one item, and you don’t want to engage a professional for a fee to help you make the best decision? Penny-wise, pound-foolish, perhaps?
Participant“….FHA….But even that road is not so easy.”
Really? I am open to convincing myself, jp, but where do I go to see the evidence? I am a little skeptical because the end goal of the folks organizing the home lending market seems to be keeping home prices high. People like Larry Summers and Bernanke have said very directly that the key to “recovery” is “fixing” the housing market. And they don’t mean prudent lending and prudent prices. They mean keeping prices as close to peak levels as possible. They are backing it up with enormous amounts of easy money.
How is all that not ending up in easy FHA loans? Isn’t the down payment requirement for FHA loans just 3.5%? And doesn’t the $8K tax credit count? And isn’t it common for sellers to arrange kickbacks to buyers for the (tiny) residual if they don’t want to put up even the tiny remaining fraction of the purchase price? None of this sounds prudent to me, or difficult to game.
But I am no RE expert, so perhaps it’s a whole new game out there, and I haven’t seen it yet.
Participant“….FHA….But even that road is not so easy.”
Really? I am open to convincing myself, jp, but where do I go to see the evidence? I am a little skeptical because the end goal of the folks organizing the home lending market seems to be keeping home prices high. People like Larry Summers and Bernanke have said very directly that the key to “recovery” is “fixing” the housing market. And they don’t mean prudent lending and prudent prices. They mean keeping prices as close to peak levels as possible. They are backing it up with enormous amounts of easy money.
How is all that not ending up in easy FHA loans? Isn’t the down payment requirement for FHA loans just 3.5%? And doesn’t the $8K tax credit count? And isn’t it common for sellers to arrange kickbacks to buyers for the (tiny) residual if they don’t want to put up even the tiny remaining fraction of the purchase price? None of this sounds prudent to me, or difficult to game.
But I am no RE expert, so perhaps it’s a whole new game out there, and I haven’t seen it yet.
Participant“….FHA….But even that road is not so easy.”
Really? I am open to convincing myself, jp, but where do I go to see the evidence? I am a little skeptical because the end goal of the folks organizing the home lending market seems to be keeping home prices high. People like Larry Summers and Bernanke have said very directly that the key to “recovery” is “fixing” the housing market. And they don’t mean prudent lending and prudent prices. They mean keeping prices as close to peak levels as possible. They are backing it up with enormous amounts of easy money.
How is all that not ending up in easy FHA loans? Isn’t the down payment requirement for FHA loans just 3.5%? And doesn’t the $8K tax credit count? And isn’t it common for sellers to arrange kickbacks to buyers for the (tiny) residual if they don’t want to put up even the tiny remaining fraction of the purchase price? None of this sounds prudent to me, or difficult to game.
But I am no RE expert, so perhaps it’s a whole new game out there, and I haven’t seen it yet.
Participant“….FHA….But even that road is not so easy.”
Really? I am open to convincing myself, jp, but where do I go to see the evidence? I am a little skeptical because the end goal of the folks organizing the home lending market seems to be keeping home prices high. People like Larry Summers and Bernanke have said very directly that the key to “recovery” is “fixing” the housing market. And they don’t mean prudent lending and prudent prices. They mean keeping prices as close to peak levels as possible. They are backing it up with enormous amounts of easy money.
How is all that not ending up in easy FHA loans? Isn’t the down payment requirement for FHA loans just 3.5%? And doesn’t the $8K tax credit count? And isn’t it common for sellers to arrange kickbacks to buyers for the (tiny) residual if they don’t want to put up even the tiny remaining fraction of the purchase price? None of this sounds prudent to me, or difficult to game.
But I am no RE expert, so perhaps it’s a whole new game out there, and I haven’t seen it yet.
Participant“….FHA….But even that road is not so easy.”
Really? I am open to convincing myself, jp, but where do I go to see the evidence? I am a little skeptical because the end goal of the folks organizing the home lending market seems to be keeping home prices high. People like Larry Summers and Bernanke have said very directly that the key to “recovery” is “fixing” the housing market. And they don’t mean prudent lending and prudent prices. They mean keeping prices as close to peak levels as possible. They are backing it up with enormous amounts of easy money.
How is all that not ending up in easy FHA loans? Isn’t the down payment requirement for FHA loans just 3.5%? And doesn’t the $8K tax credit count? And isn’t it common for sellers to arrange kickbacks to buyers for the (tiny) residual if they don’t want to put up even the tiny remaining fraction of the purchase price? None of this sounds prudent to me, or difficult to game.
But I am no RE expert, so perhaps it’s a whole new game out there, and I haven’t seen it yet.
Participant“The only problem w/all the demand is that people actually need to have jobs/income to qualify to buy.”
If we were operating in a (somewhat) free market. But housing today is supported almost exclusively by promises of money from the govt, and there is no end in sight.
Participant“The only problem w/all the demand is that people actually need to have jobs/income to qualify to buy.”
If we were operating in a (somewhat) free market. But housing today is supported almost exclusively by promises of money from the govt, and there is no end in sight.
Participant“The only problem w/all the demand is that people actually need to have jobs/income to qualify to buy.”
If we were operating in a (somewhat) free market. But housing today is supported almost exclusively by promises of money from the govt, and there is no end in sight.
Participant“The only problem w/all the demand is that people actually need to have jobs/income to qualify to buy.”
If we were operating in a (somewhat) free market. But housing today is supported almost exclusively by promises of money from the govt, and there is no end in sight.
Participant“The only problem w/all the demand is that people actually need to have jobs/income to qualify to buy.”
If we were operating in a (somewhat) free market. But housing today is supported almost exclusively by promises of money from the govt, and there is no end in sight.
ParticipantCongress has approved, explicitly or implicitly, spending of trillions of dollars in the last 2 years to boost home prices. Yes, this several hundred million dollar for planes for Congress is offensive, but the real offense is in Barney Frank, Chris Dodd, and Chuck Schumer continuing to give the nod to trillions of taxpayer dollars being put at risk to support uneconomically high home prices.
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