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pemeliza
ParticipantSorry AN, I didn’t intend to belittle your posts. I do think it helps to crunch numbers because there are many possibilities. Your work on this board is highly regarded by me and others.
ParticipantSorry AN, I didn’t intend to belittle your posts. I do think it helps to crunch numbers because there are many possibilities. Your work on this board is highly regarded by me and others.
ParticipantThis analysis is all moot if you believe that we are in a era of quasi-permanent low interest rates. Look at Japan … consider the mortgage rates over the last 20 years or so. With the government picking and choosing what it wishes to call “inflation” and the fed with access to the green B-52’s and Apache’s there is no reason to “expect” higher interest rates. Yes, it is possible but I see no reason to “expect” them. I personally think it is a lot easier for the gubament to drop rates than it is to raise them and the free market hasn’t set interest rates for a long long time.
“Better to have bought near the low, so that you are always able to sell at any point in the future.”
lol – no offense CA renter but that quote gave me a chuckle … 🙂
Actually, in this day and age it is probably best to put as little as your own money into a home purchase as possible so that you can give it back to the bank at any point in the future …
ParticipantThis analysis is all moot if you believe that we are in a era of quasi-permanent low interest rates. Look at Japan … consider the mortgage rates over the last 20 years or so. With the government picking and choosing what it wishes to call “inflation” and the fed with access to the green B-52’s and Apache’s there is no reason to “expect” higher interest rates. Yes, it is possible but I see no reason to “expect” them. I personally think it is a lot easier for the gubament to drop rates than it is to raise them and the free market hasn’t set interest rates for a long long time.
“Better to have bought near the low, so that you are always able to sell at any point in the future.”
lol – no offense CA renter but that quote gave me a chuckle … 🙂
Actually, in this day and age it is probably best to put as little as your own money into a home purchase as possible so that you can give it back to the bank at any point in the future …
ParticipantThis analysis is all moot if you believe that we are in a era of quasi-permanent low interest rates. Look at Japan … consider the mortgage rates over the last 20 years or so. With the government picking and choosing what it wishes to call “inflation” and the fed with access to the green B-52’s and Apache’s there is no reason to “expect” higher interest rates. Yes, it is possible but I see no reason to “expect” them. I personally think it is a lot easier for the gubament to drop rates than it is to raise them and the free market hasn’t set interest rates for a long long time.
“Better to have bought near the low, so that you are always able to sell at any point in the future.”
lol – no offense CA renter but that quote gave me a chuckle … 🙂
Actually, in this day and age it is probably best to put as little as your own money into a home purchase as possible so that you can give it back to the bank at any point in the future …
ParticipantThis analysis is all moot if you believe that we are in a era of quasi-permanent low interest rates. Look at Japan … consider the mortgage rates over the last 20 years or so. With the government picking and choosing what it wishes to call “inflation” and the fed with access to the green B-52’s and Apache’s there is no reason to “expect” higher interest rates. Yes, it is possible but I see no reason to “expect” them. I personally think it is a lot easier for the gubament to drop rates than it is to raise them and the free market hasn’t set interest rates for a long long time.
“Better to have bought near the low, so that you are always able to sell at any point in the future.”
lol – no offense CA renter but that quote gave me a chuckle … 🙂
Actually, in this day and age it is probably best to put as little as your own money into a home purchase as possible so that you can give it back to the bank at any point in the future …
ParticipantThis analysis is all moot if you believe that we are in a era of quasi-permanent low interest rates. Look at Japan … consider the mortgage rates over the last 20 years or so. With the government picking and choosing what it wishes to call “inflation” and the fed with access to the green B-52’s and Apache’s there is no reason to “expect” higher interest rates. Yes, it is possible but I see no reason to “expect” them. I personally think it is a lot easier for the gubament to drop rates than it is to raise them and the free market hasn’t set interest rates for a long long time.
“Better to have bought near the low, so that you are always able to sell at any point in the future.”
lol – no offense CA renter but that quote gave me a chuckle … 🙂
Actually, in this day and age it is probably best to put as little as your own money into a home purchase as possible so that you can give it back to the bank at any point in the future …
Participant“Lastly I see relatively high income young dual wage earners ($150K to $300K) that bought small homes during the bubble who can qualify for a nice new big house and then walk away from the other. ”
This helps explain some things. I had a feeling that this was going on. These people are essentially going to a get a free do-over. Yes, there credit will sting for a few years but with all of the foreclosures going on, that stigma has been significantly reduced.
The only bubble buyers who are taking significant loses in CA are those who paid cash or put a large down.
Participant“Lastly I see relatively high income young dual wage earners ($150K to $300K) that bought small homes during the bubble who can qualify for a nice new big house and then walk away from the other. ”
This helps explain some things. I had a feeling that this was going on. These people are essentially going to a get a free do-over. Yes, there credit will sting for a few years but with all of the foreclosures going on, that stigma has been significantly reduced.
The only bubble buyers who are taking significant loses in CA are those who paid cash or put a large down.
Participant“Lastly I see relatively high income young dual wage earners ($150K to $300K) that bought small homes during the bubble who can qualify for a nice new big house and then walk away from the other. ”
This helps explain some things. I had a feeling that this was going on. These people are essentially going to a get a free do-over. Yes, there credit will sting for a few years but with all of the foreclosures going on, that stigma has been significantly reduced.
The only bubble buyers who are taking significant loses in CA are those who paid cash or put a large down.
Participant“Lastly I see relatively high income young dual wage earners ($150K to $300K) that bought small homes during the bubble who can qualify for a nice new big house and then walk away from the other. ”
This helps explain some things. I had a feeling that this was going on. These people are essentially going to a get a free do-over. Yes, there credit will sting for a few years but with all of the foreclosures going on, that stigma has been significantly reduced.
The only bubble buyers who are taking significant loses in CA are those who paid cash or put a large down.
Participant“Lastly I see relatively high income young dual wage earners ($150K to $300K) that bought small homes during the bubble who can qualify for a nice new big house and then walk away from the other. ”
This helps explain some things. I had a feeling that this was going on. These people are essentially going to a get a free do-over. Yes, there credit will sting for a few years but with all of the foreclosures going on, that stigma has been significantly reduced.
The only bubble buyers who are taking significant loses in CA are those who paid cash or put a large down.
September 12, 2009 at 1:23 PM in reply to: Can you trust the Foreclosure Link on sdlookup.com #456362Participant“If you are looking for a large price decrease in a few months, I personally don’t see it happening. If you can wait another year or 2 or 3 then yes it may happen due to either large interest rate shock, or something else substantial.”
SDR, at this point I have given up on further price declines. I would settle for more inventory at REO sales prices. In the areas I have been looking hard at for the last 2 years, the choice inventory under 850k has essentially dried up. I feel like for every “deal” there must be at least 10 buyers. My hope is that buyers will get frustrated by the lack of inventory this fall and hibernate until the spring.
September 12, 2009 at 1:23 PM in reply to: Can you trust the Foreclosure Link on sdlookup.com #456432Participant“If you are looking for a large price decrease in a few months, I personally don’t see it happening. If you can wait another year or 2 or 3 then yes it may happen due to either large interest rate shock, or something else substantial.”
SDR, at this point I have given up on further price declines. I would settle for more inventory at REO sales prices. In the areas I have been looking hard at for the last 2 years, the choice inventory under 850k has essentially dried up. I feel like for every “deal” there must be at least 10 buyers. My hope is that buyers will get frustrated by the lack of inventory this fall and hibernate until the spring.
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