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December 15, 2007 at 10:43 AM in reply to: By spot to live that isn’t more than 20 minutes from downtown… #117913December 15, 2007 at 10:43 AM in reply to: By spot to live that isn’t more than 20 minutes from downtown… #117949
SD Realtor
ParticipantJumby the diversity in neighborhoods even within 20 minutes of downtown is substantial! You can choose from beautiful views looking east from Shelter Island, (this would be the high end of your range… and needs some more depreciation to come down to 1M) to coffee houses in Hillcrest or Mission Hills… to lake views up top of Del Cerro… to looking over Mission Bay in Baypark…I could go on and on…
Same with the quality of schools, the quality and age of the homes, lot sizes etc… It is really a tough question to answer. Even within localized areas there are differences. For instance Kensington and Normal Heights share 92116 but are quite different. They border Hillcrest and Mission Hills and those areas are quite different from them. Schools vary widely as well.
Can you perhaps list a priority of what is most important?
Also even with that priority list I could not advise anything more then to live in San Diego for awhile before you even consider buying. Rent for a year and spend a few months checking out potential neighborhoods for your purchase.
SD Realtor
December 15, 2007 at 10:43 AM in reply to: By spot to live that isn’t more than 20 minutes from downtown… #117989ParticipantJumby the diversity in neighborhoods even within 20 minutes of downtown is substantial! You can choose from beautiful views looking east from Shelter Island, (this would be the high end of your range… and needs some more depreciation to come down to 1M) to coffee houses in Hillcrest or Mission Hills… to lake views up top of Del Cerro… to looking over Mission Bay in Baypark…I could go on and on…
Same with the quality of schools, the quality and age of the homes, lot sizes etc… It is really a tough question to answer. Even within localized areas there are differences. For instance Kensington and Normal Heights share 92116 but are quite different. They border Hillcrest and Mission Hills and those areas are quite different from them. Schools vary widely as well.
Can you perhaps list a priority of what is most important?
Also even with that priority list I could not advise anything more then to live in San Diego for awhile before you even consider buying. Rent for a year and spend a few months checking out potential neighborhoods for your purchase.
SD Realtor
December 15, 2007 at 10:43 AM in reply to: By spot to live that isn’t more than 20 minutes from downtown… #118006ParticipantJumby the diversity in neighborhoods even within 20 minutes of downtown is substantial! You can choose from beautiful views looking east from Shelter Island, (this would be the high end of your range… and needs some more depreciation to come down to 1M) to coffee houses in Hillcrest or Mission Hills… to lake views up top of Del Cerro… to looking over Mission Bay in Baypark…I could go on and on…
Same with the quality of schools, the quality and age of the homes, lot sizes etc… It is really a tough question to answer. Even within localized areas there are differences. For instance Kensington and Normal Heights share 92116 but are quite different. They border Hillcrest and Mission Hills and those areas are quite different from them. Schools vary widely as well.
Can you perhaps list a priority of what is most important?
Also even with that priority list I could not advise anything more then to live in San Diego for awhile before you even consider buying. Rent for a year and spend a few months checking out potential neighborhoods for your purchase.
SD Realtor
ParticipantSeattle Relo my main point above was that there should be absolutely no shame in the admission of the foreclosure to the employer. It happens and there are alot of circumstances that justify it and I think that many (not all) employers would be understanding, especially as we move into the future.
SD Realtor
ParticipantSeattle Relo my main point above was that there should be absolutely no shame in the admission of the foreclosure to the employer. It happens and there are alot of circumstances that justify it and I think that many (not all) employers would be understanding, especially as we move into the future.
SD Realtor
ParticipantSeattle Relo my main point above was that there should be absolutely no shame in the admission of the foreclosure to the employer. It happens and there are alot of circumstances that justify it and I think that many (not all) employers would be understanding, especially as we move into the future.
SD Realtor
ParticipantSeattle Relo my main point above was that there should be absolutely no shame in the admission of the foreclosure to the employer. It happens and there are alot of circumstances that justify it and I think that many (not all) employers would be understanding, especially as we move into the future.
SD Realtor
ParticipantSeattle Relo my main point above was that there should be absolutely no shame in the admission of the foreclosure to the employer. It happens and there are alot of circumstances that justify it and I think that many (not all) employers would be understanding, especially as we move into the future.
SD Realtor
ParticipantTG good deal. I was kind of half asleep this morning posting so buying the REO as opposed to dealing with the trustee sale is smart. Lowballing is frustrating but in the end those with persistence and patience will win the game.
HLS – Not sure where the 10 year will end up in the next few months. However as you may recall back in 03 when it dumped to the low/mid 3’s that the resulting bounce back up was staggering and there were even a few originators caught in the upswing. I don’t envision that here but to think that it will not normalize to the 4.5-4.75 range is not out of norm. So to propose that through the spring that rates will be 3/8-1/2 higher then now is at least a 50/50 proposal. Just as saying that the 10 year could go down by the same amount as well. Like you said, most buyers are not aware of the volatility in the mortgage rates. Also that the window of opportunity is MUCH more narrow when the 10 year dumps then when it moves up. (That is mortgage rates adjust IMMEDIATELY when the 10 year moves up but they are quite sticky when it moves down)
SD Realtor
ParticipantTG good deal. I was kind of half asleep this morning posting so buying the REO as opposed to dealing with the trustee sale is smart. Lowballing is frustrating but in the end those with persistence and patience will win the game.
HLS – Not sure where the 10 year will end up in the next few months. However as you may recall back in 03 when it dumped to the low/mid 3’s that the resulting bounce back up was staggering and there were even a few originators caught in the upswing. I don’t envision that here but to think that it will not normalize to the 4.5-4.75 range is not out of norm. So to propose that through the spring that rates will be 3/8-1/2 higher then now is at least a 50/50 proposal. Just as saying that the 10 year could go down by the same amount as well. Like you said, most buyers are not aware of the volatility in the mortgage rates. Also that the window of opportunity is MUCH more narrow when the 10 year dumps then when it moves up. (That is mortgage rates adjust IMMEDIATELY when the 10 year moves up but they are quite sticky when it moves down)
SD Realtor
ParticipantTG good deal. I was kind of half asleep this morning posting so buying the REO as opposed to dealing with the trustee sale is smart. Lowballing is frustrating but in the end those with persistence and patience will win the game.
HLS – Not sure where the 10 year will end up in the next few months. However as you may recall back in 03 when it dumped to the low/mid 3’s that the resulting bounce back up was staggering and there were even a few originators caught in the upswing. I don’t envision that here but to think that it will not normalize to the 4.5-4.75 range is not out of norm. So to propose that through the spring that rates will be 3/8-1/2 higher then now is at least a 50/50 proposal. Just as saying that the 10 year could go down by the same amount as well. Like you said, most buyers are not aware of the volatility in the mortgage rates. Also that the window of opportunity is MUCH more narrow when the 10 year dumps then when it moves up. (That is mortgage rates adjust IMMEDIATELY when the 10 year moves up but they are quite sticky when it moves down)
SD Realtor
ParticipantTG good deal. I was kind of half asleep this morning posting so buying the REO as opposed to dealing with the trustee sale is smart. Lowballing is frustrating but in the end those with persistence and patience will win the game.
HLS – Not sure where the 10 year will end up in the next few months. However as you may recall back in 03 when it dumped to the low/mid 3’s that the resulting bounce back up was staggering and there were even a few originators caught in the upswing. I don’t envision that here but to think that it will not normalize to the 4.5-4.75 range is not out of norm. So to propose that through the spring that rates will be 3/8-1/2 higher then now is at least a 50/50 proposal. Just as saying that the 10 year could go down by the same amount as well. Like you said, most buyers are not aware of the volatility in the mortgage rates. Also that the window of opportunity is MUCH more narrow when the 10 year dumps then when it moves up. (That is mortgage rates adjust IMMEDIATELY when the 10 year moves up but they are quite sticky when it moves down)
SD Realtor
ParticipantTG good deal. I was kind of half asleep this morning posting so buying the REO as opposed to dealing with the trustee sale is smart. Lowballing is frustrating but in the end those with persistence and patience will win the game.
HLS – Not sure where the 10 year will end up in the next few months. However as you may recall back in 03 when it dumped to the low/mid 3’s that the resulting bounce back up was staggering and there were even a few originators caught in the upswing. I don’t envision that here but to think that it will not normalize to the 4.5-4.75 range is not out of norm. So to propose that through the spring that rates will be 3/8-1/2 higher then now is at least a 50/50 proposal. Just as saying that the 10 year could go down by the same amount as well. Like you said, most buyers are not aware of the volatility in the mortgage rates. Also that the window of opportunity is MUCH more narrow when the 10 year dumps then when it moves up. (That is mortgage rates adjust IMMEDIATELY when the 10 year moves up but they are quite sticky when it moves down)
SD Realtor
Participanttg –
If you do make the purchase you will not be able to get it from the trustee sale. Don’t confuse an REO with a trustee sale.
The home you are living in now is (if I read your post correct) in default or close to it. The foreclosure process is essentially starting. The culmination of the process will be a public auction known as a trustee sale. Anyone can attend however in order to purchase the home at the trustee sale you will not be able to come in with conventional financing. If nobody else does either the home will go back to the lender. Let that happen.
Let the home go to the lender and then once the home becomes an REO then go after it. If you do make the purchase from the lender all of the liens will be cleaned up and you will not have to worry about anything.
Also you know my stance about living in a home during the foreclosure process. All bets are off. Indeed while the state is very tenant friendly at one point or another you will be out of there. I always play things close to the vest and am conservative so yes while I would say you are safe until the trustee sale, after the trustee sale things do get a bit more dicey.
Finally as HLS said the 10 year has been on the move. Indeed from the low of 3.85 not less then 2 weeks ago we are almost 35 basis points up. This translates to a DIRECT hit on long term rates. It is not inconceivable that in another few months the 10 year can be back up another 50 bp thus bringing rates up as well. This will serve to help depress pricing and for those with cash, will be beneficial.
SD Realtor
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