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[quote=sago][quote=andymajumder][quote=Scarlett]I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…[/quote]

That may be possible quite soon. Actually even now if you negotiate hard you can get early 2003 nominal price…and than factor in that interest rates are about 2% lower now than early 2003, you are probably getting early to mid 2002 prices. You do have to take the cost of financing into account.[/quote]

In PQ, 2003 seems to be the year the prices rose steeply. PQ(92129) average home prices rose from 410K to 510K in one year. When you say you get 2003 prices, are you refering to early or late 2003? PQ homes are still way pricer compared to these and at best are closer to 500K range.

Any thoughts?[/quote]

S/he said EARLY 2003. You are quite correct, which is why I said 2002. I think it’s very hard and you have to be very lucky to get early 2003 prices in PQ nowadays. You could get them last spring.

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I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…

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I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…

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I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…

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I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…

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I’d be happy with a 2002 nominal pricing for Rancho Penasquitos…

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FHA loans?

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FHA loans?

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FHA loans?

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FHA loans?

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FHA loans?

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[quote=sdrealtor]Interest rates werent 9% in 1997 when I bought my 1st home here and when they are higher folks will just opt for adjustable rates in the short term and refi when they drop. Expecting and waiting for 9% interest rates is a folly IMO and will leave you waiting to buy well past the prime years of your life. Rules of thumb like that are dangerous to get stuck on. Watch, run numbersd and take the plunge when it makes sense for you rather than waiting for some mythical number.[/quote]

Are you saying that increasing rates from current to e.g. 9% will not affect the prices that much because of the ARMs and such?

You can run now all the numbers you want but if the rates go to 9% or God forbid, double digits, I believe the housing prices will also go down significantly, (i.e. > 20%). If you have to sell for whatever reason at that point, you will be taking a bath. (to be clear, I am talking more mid-range housing), that’s what most potential buyers are afraid of. But, you have to tolerate some risk in RE, and go on with your life, so maybe you buy something less that what you could afford, or move to another state.

[Scarlett]

[quote=sdrealtor]Interest rates werent 9% in 1997 when I bought my 1st home here and when they are higher folks will just opt for adjustable rates in the short term and refi when they drop. Expecting and waiting for 9% interest rates is a folly IMO and will leave you waiting to buy well past the prime years of your life. Rules of thumb like that are dangerous to get stuck on. Watch, run numbersd and take the plunge when it makes sense for you rather than waiting for some mythical number.[/quote]

Are you saying that increasing rates from current to e.g. 9% will not affect the prices that much because of the ARMs and such?

You can run now all the numbers you want but if the rates go to 9% or God forbid, double digits, I believe the housing prices will also go down significantly, (i.e. > 20%). If you have to sell for whatever reason at that point, you will be taking a bath. (to be clear, I am talking more mid-range housing), that’s what most potential buyers are afraid of. But, you have to tolerate some risk in RE, and go on with your life, so maybe you buy something less that what you could afford, or move to another state.

[Scarlett]

[quote=sdrealtor]Interest rates werent 9% in 1997 when I bought my 1st home here and when they are higher folks will just opt for adjustable rates in the short term and refi when they drop. Expecting and waiting for 9% interest rates is a folly IMO and will leave you waiting to buy well past the prime years of your life. Rules of thumb like that are dangerous to get stuck on. Watch, run numbersd and take the plunge when it makes sense for you rather than waiting for some mythical number.[/quote]

Are you saying that increasing rates from current to e.g. 9% will not affect the prices that much because of the ARMs and such?

You can run now all the numbers you want but if the rates go to 9% or God forbid, double digits, I believe the housing prices will also go down significantly, (i.e. > 20%). If you have to sell for whatever reason at that point, you will be taking a bath. (to be clear, I am talking more mid-range housing), that’s what most potential buyers are afraid of. But, you have to tolerate some risk in RE, and go on with your life, so maybe you buy something less that what you could afford, or move to another state.

[Scarlett]

[quote=sdrealtor]Interest rates werent 9% in 1997 when I bought my 1st home here and when they are higher folks will just opt for adjustable rates in the short term and refi when they drop. Expecting and waiting for 9% interest rates is a folly IMO and will leave you waiting to buy well past the prime years of your life. Rules of thumb like that are dangerous to get stuck on. Watch, run numbersd and take the plunge when it makes sense for you rather than waiting for some mythical number.[/quote]

Are you saying that increasing rates from current to e.g. 9% will not affect the prices that much because of the ARMs and such?

You can run now all the numbers you want but if the rates go to 9% or God forbid, double digits, I believe the housing prices will also go down significantly, (i.e. > 20%). If you have to sell for whatever reason at that point, you will be taking a bath. (to be clear, I am talking more mid-range housing), that’s what most potential buyers are afraid of. But, you have to tolerate some risk in RE, and go on with your life, so maybe you buy something less that what you could afford, or move to another state.

[Author]

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