[SD Realtor]

I hear you. It is not an easy decision. Let me ask you this… your comments above indicate you have thought alot about this but have you actually put your estimated calculations on a spreadsheet to look at ALL the data? I know it is easier to kind of lump everything together and make an estimate but being more precise and putting all out on a sheet really helps to clarify. The key is to be anal in the organization.

The way I see it you have a few potential paths:

1 – Riding out the storm until it bottoms out, then selling and buying directly into the home you want to be in for several years.

2 – Selling the home immediately, then renting for a few years, then buying directly into the home you want to be in for several years.

3 – Selling the home in a year or two, then renting for a few years, then buying directly into the home you want to be in for several years.

4 – Refinancing the home now (or in a few months) then live in it until a specific time in the future at which point you will then buy another home you want to be in for several years.

I think that covers all possibilities right?

So the first thing you need to do is run through a rent verses your existing cost of owning to see if your out of pocket expense is really as bad as you say. Also make sure you ADJUST your existing cost of owning whenever your loan resets. The same is true if you refinance including the cost of refinancing. Of course don’t forget your HOA/Prop taxes, additional insurance if you carry it, etc…Just make sure you keep the rent verses buy calculation honest in both directions. Don’t forget to run a sample tax return for each case as well to see how it affects your taxes.

I agree that in your case it MAY be okay to keep the home, but I think you may find that the cash flow is going to run negative once you get into a more conservative loan program and add in all the other costs of owning. However if rents stay strong in the UTC area then you may be okay.

I know it is a tough choice but if you can run out the above scenarios a little more thoroughly then it may clarify things.

[SD Realtor]

I hear you. It is not an easy decision. Let me ask you this… your comments above indicate you have thought alot about this but have you actually put your estimated calculations on a spreadsheet to look at ALL the data? I know it is easier to kind of lump everything together and make an estimate but being more precise and putting all out on a sheet really helps to clarify. The key is to be anal in the organization.

The way I see it you have a few potential paths:

1 – Riding out the storm until it bottoms out, then selling and buying directly into the home you want to be in for several years.

2 – Selling the home immediately, then renting for a few years, then buying directly into the home you want to be in for several years.

3 – Selling the home in a year or two, then renting for a few years, then buying directly into the home you want to be in for several years.

4 – Refinancing the home now (or in a few months) then live in it until a specific time in the future at which point you will then buy another home you want to be in for several years.

I think that covers all possibilities right?

So the first thing you need to do is run through a rent verses your existing cost of owning to see if your out of pocket expense is really as bad as you say. Also make sure you ADJUST your existing cost of owning whenever your loan resets. The same is true if you refinance including the cost of refinancing. Of course don’t forget your HOA/Prop taxes, additional insurance if you carry it, etc…Just make sure you keep the rent verses buy calculation honest in both directions. Don’t forget to run a sample tax return for each case as well to see how it affects your taxes.

I agree that in your case it MAY be okay to keep the home, but I think you may find that the cash flow is going to run negative once you get into a more conservative loan program and add in all the other costs of owning. However if rents stay strong in the UTC area then you may be okay.

I know it is a tough choice but if you can run out the above scenarios a little more thoroughly then it may clarify things.

[SD Realtor]

I hear you. It is not an easy decision. Let me ask you this… your comments above indicate you have thought alot about this but have you actually put your estimated calculations on a spreadsheet to look at ALL the data? I know it is easier to kind of lump everything together and make an estimate but being more precise and putting all out on a sheet really helps to clarify. The key is to be anal in the organization.

The way I see it you have a few potential paths:

1 – Riding out the storm until it bottoms out, then selling and buying directly into the home you want to be in for several years.

2 – Selling the home immediately, then renting for a few years, then buying directly into the home you want to be in for several years.

3 – Selling the home in a year or two, then renting for a few years, then buying directly into the home you want to be in for several years.

4 – Refinancing the home now (or in a few months) then live in it until a specific time in the future at which point you will then buy another home you want to be in for several years.

I think that covers all possibilities right?

So the first thing you need to do is run through a rent verses your existing cost of owning to see if your out of pocket expense is really as bad as you say. Also make sure you ADJUST your existing cost of owning whenever your loan resets. The same is true if you refinance including the cost of refinancing. Of course don’t forget your HOA/Prop taxes, additional insurance if you carry it, etc…Just make sure you keep the rent verses buy calculation honest in both directions. Don’t forget to run a sample tax return for each case as well to see how it affects your taxes.

I agree that in your case it MAY be okay to keep the home, but I think you may find that the cash flow is going to run negative once you get into a more conservative loan program and add in all the other costs of owning. However if rents stay strong in the UTC area then you may be okay.

I know it is a tough choice but if you can run out the above scenarios a little more thoroughly then it may clarify things.

[SD Realtor]

I hear you. It is not an easy decision. Let me ask you this… your comments above indicate you have thought alot about this but have you actually put your estimated calculations on a spreadsheet to look at ALL the data? I know it is easier to kind of lump everything together and make an estimate but being more precise and putting all out on a sheet really helps to clarify. The key is to be anal in the organization.

The way I see it you have a few potential paths:

1 – Riding out the storm until it bottoms out, then selling and buying directly into the home you want to be in for several years.

2 – Selling the home immediately, then renting for a few years, then buying directly into the home you want to be in for several years.

3 – Selling the home in a year or two, then renting for a few years, then buying directly into the home you want to be in for several years.

4 – Refinancing the home now (or in a few months) then live in it until a specific time in the future at which point you will then buy another home you want to be in for several years.

I think that covers all possibilities right?

So the first thing you need to do is run through a rent verses your existing cost of owning to see if your out of pocket expense is really as bad as you say. Also make sure you ADJUST your existing cost of owning whenever your loan resets. The same is true if you refinance including the cost of refinancing. Of course don’t forget your HOA/Prop taxes, additional insurance if you carry it, etc…Just make sure you keep the rent verses buy calculation honest in both directions. Don’t forget to run a sample tax return for each case as well to see how it affects your taxes.

I agree that in your case it MAY be okay to keep the home, but I think you may find that the cash flow is going to run negative once you get into a more conservative loan program and add in all the other costs of owning. However if rents stay strong in the UTC area then you may be okay.

I know it is a tough choice but if you can run out the above scenarios a little more thoroughly then it may clarify things.

[SD Realtor]

I hear you. It is not an easy decision. Let me ask you this… your comments above indicate you have thought alot about this but have you actually put your estimated calculations on a spreadsheet to look at ALL the data? I know it is easier to kind of lump everything together and make an estimate but being more precise and putting all out on a sheet really helps to clarify. The key is to be anal in the organization.

The way I see it you have a few potential paths:

1 – Riding out the storm until it bottoms out, then selling and buying directly into the home you want to be in for several years.

2 – Selling the home immediately, then renting for a few years, then buying directly into the home you want to be in for several years.

3 – Selling the home in a year or two, then renting for a few years, then buying directly into the home you want to be in for several years.

4 – Refinancing the home now (or in a few months) then live in it until a specific time in the future at which point you will then buy another home you want to be in for several years.

I think that covers all possibilities right?

So the first thing you need to do is run through a rent verses your existing cost of owning to see if your out of pocket expense is really as bad as you say. Also make sure you ADJUST your existing cost of owning whenever your loan resets. The same is true if you refinance including the cost of refinancing. Of course don’t forget your HOA/Prop taxes, additional insurance if you carry it, etc…Just make sure you keep the rent verses buy calculation honest in both directions. Don’t forget to run a sample tax return for each case as well to see how it affects your taxes.

I agree that in your case it MAY be okay to keep the home, but I think you may find that the cash flow is going to run negative once you get into a more conservative loan program and add in all the other costs of owning. However if rents stay strong in the UTC area then you may be okay.

I know it is a tough choice but if you can run out the above scenarios a little more thoroughly then it may clarify things.

[SD Realtor]

I think you need to analyze the 10 year treasury yield to determine how much more “upside” you have on the possibility of mortgage rates falling. I am not an expert on the bond market but I do know we are at a pretty critical level with the 10 year… why the bond market has been rallying, I have no idea.

I have been advising people though that if they are going to ride out the storm for the next several years regarding holding real estate instead of dumping it, then absolutely considering refinancing now is advisable. I do not see how things will be any better a year from now. Similarly if we are trying to look down the road many years from now not only will rates be higher but property values will be much lower.

Some people who have more insight into the bond market that I have talked to see it bottoming out later into January but even they have reservations based on the overall sketchiness of the markets.

With your downpayment saved up you have done great. I think buying in winter of 08 may be a bit early but it beats buying in winter of 07.

I know Lucera very well and I think it will continue to depreciate. Your bottom level estimation of 180-200 with a possibility of an overshoot is accurate. One thing you may want to do is to check to see that if you do refinance and end up holding onto the property and convert it to a rental after you move out, what kind of cash flow will you get. You absolutely will enjoy tax benefits but you may not get a positive cash flow.

The final question is what sort of loan do you have now? By refinancing how much will you save? Anyways, refinancing may not be a bad idea if you are going to hold onto the property for awhile. Otherwise, cut and run and dump the property now… As for refinancing now verses in a year from now, I would do it now. As for refinancing now verses say 2 months from now… well analyze the 10 year treasury yield and try to figure out if it is trending down or up.

Also as posted above not sure if the numbers add up if your payment is 800 based on a 200k loan. Unless it is a teaser rate.

SD Realtor

[SD Realtor]

I think you need to analyze the 10 year treasury yield to determine how much more “upside” you have on the possibility of mortgage rates falling. I am not an expert on the bond market but I do know we are at a pretty critical level with the 10 year… why the bond market has been rallying, I have no idea.

I have been advising people though that if they are going to ride out the storm for the next several years regarding holding real estate instead of dumping it, then absolutely considering refinancing now is advisable. I do not see how things will be any better a year from now. Similarly if we are trying to look down the road many years from now not only will rates be higher but property values will be much lower.

Some people who have more insight into the bond market that I have talked to see it bottoming out later into January but even they have reservations based on the overall sketchiness of the markets.

With your downpayment saved up you have done great. I think buying in winter of 08 may be a bit early but it beats buying in winter of 07.

I know Lucera very well and I think it will continue to depreciate. Your bottom level estimation of 180-200 with a possibility of an overshoot is accurate. One thing you may want to do is to check to see that if you do refinance and end up holding onto the property and convert it to a rental after you move out, what kind of cash flow will you get. You absolutely will enjoy tax benefits but you may not get a positive cash flow.

The final question is what sort of loan do you have now? By refinancing how much will you save? Anyways, refinancing may not be a bad idea if you are going to hold onto the property for awhile. Otherwise, cut and run and dump the property now… As for refinancing now verses in a year from now, I would do it now. As for refinancing now verses say 2 months from now… well analyze the 10 year treasury yield and try to figure out if it is trending down or up.

Also as posted above not sure if the numbers add up if your payment is 800 based on a 200k loan. Unless it is a teaser rate.

SD Realtor

[SD Realtor]

I think you need to analyze the 10 year treasury yield to determine how much more “upside” you have on the possibility of mortgage rates falling. I am not an expert on the bond market but I do know we are at a pretty critical level with the 10 year… why the bond market has been rallying, I have no idea.

I have been advising people though that if they are going to ride out the storm for the next several years regarding holding real estate instead of dumping it, then absolutely considering refinancing now is advisable. I do not see how things will be any better a year from now. Similarly if we are trying to look down the road many years from now not only will rates be higher but property values will be much lower.

Some people who have more insight into the bond market that I have talked to see it bottoming out later into January but even they have reservations based on the overall sketchiness of the markets.

With your downpayment saved up you have done great. I think buying in winter of 08 may be a bit early but it beats buying in winter of 07.

I know Lucera very well and I think it will continue to depreciate. Your bottom level estimation of 180-200 with a possibility of an overshoot is accurate. One thing you may want to do is to check to see that if you do refinance and end up holding onto the property and convert it to a rental after you move out, what kind of cash flow will you get. You absolutely will enjoy tax benefits but you may not get a positive cash flow.

The final question is what sort of loan do you have now? By refinancing how much will you save? Anyways, refinancing may not be a bad idea if you are going to hold onto the property for awhile. Otherwise, cut and run and dump the property now… As for refinancing now verses in a year from now, I would do it now. As for refinancing now verses say 2 months from now… well analyze the 10 year treasury yield and try to figure out if it is trending down or up.

Also as posted above not sure if the numbers add up if your payment is 800 based on a 200k loan. Unless it is a teaser rate.

SD Realtor

[SD Realtor]

I think you need to analyze the 10 year treasury yield to determine how much more “upside” you have on the possibility of mortgage rates falling. I am not an expert on the bond market but I do know we are at a pretty critical level with the 10 year… why the bond market has been rallying, I have no idea.

I have been advising people though that if they are going to ride out the storm for the next several years regarding holding real estate instead of dumping it, then absolutely considering refinancing now is advisable. I do not see how things will be any better a year from now. Similarly if we are trying to look down the road many years from now not only will rates be higher but property values will be much lower.

Some people who have more insight into the bond market that I have talked to see it bottoming out later into January but even they have reservations based on the overall sketchiness of the markets.

With your downpayment saved up you have done great. I think buying in winter of 08 may be a bit early but it beats buying in winter of 07.

I know Lucera very well and I think it will continue to depreciate. Your bottom level estimation of 180-200 with a possibility of an overshoot is accurate. One thing you may want to do is to check to see that if you do refinance and end up holding onto the property and convert it to a rental after you move out, what kind of cash flow will you get. You absolutely will enjoy tax benefits but you may not get a positive cash flow.

The final question is what sort of loan do you have now? By refinancing how much will you save? Anyways, refinancing may not be a bad idea if you are going to hold onto the property for awhile. Otherwise, cut and run and dump the property now… As for refinancing now verses in a year from now, I would do it now. As for refinancing now verses say 2 months from now… well analyze the 10 year treasury yield and try to figure out if it is trending down or up.

Also as posted above not sure if the numbers add up if your payment is 800 based on a 200k loan. Unless it is a teaser rate.

SD Realtor

[SD Realtor]

I think you need to analyze the 10 year treasury yield to determine how much more “upside” you have on the possibility of mortgage rates falling. I am not an expert on the bond market but I do know we are at a pretty critical level with the 10 year… why the bond market has been rallying, I have no idea.

I have been advising people though that if they are going to ride out the storm for the next several years regarding holding real estate instead of dumping it, then absolutely considering refinancing now is advisable. I do not see how things will be any better a year from now. Similarly if we are trying to look down the road many years from now not only will rates be higher but property values will be much lower.

Some people who have more insight into the bond market that I have talked to see it bottoming out later into January but even they have reservations based on the overall sketchiness of the markets.

With your downpayment saved up you have done great. I think buying in winter of 08 may be a bit early but it beats buying in winter of 07.

I know Lucera very well and I think it will continue to depreciate. Your bottom level estimation of 180-200 with a possibility of an overshoot is accurate. One thing you may want to do is to check to see that if you do refinance and end up holding onto the property and convert it to a rental after you move out, what kind of cash flow will you get. You absolutely will enjoy tax benefits but you may not get a positive cash flow.

The final question is what sort of loan do you have now? By refinancing how much will you save? Anyways, refinancing may not be a bad idea if you are going to hold onto the property for awhile. Otherwise, cut and run and dump the property now… As for refinancing now verses in a year from now, I would do it now. As for refinancing now verses say 2 months from now… well analyze the 10 year treasury yield and try to figure out if it is trending down or up.

Also as posted above not sure if the numbers add up if your payment is 800 based on a 200k loan. Unless it is a teaser rate.

SD Realtor

[SD Realtor]

This is very good news.

SD Realtor

[SD Realtor]

This is very good news.

SD Realtor

[SD Realtor]

This is very good news.

SD Realtor

[SD Realtor]

This is very good news.

SD Realtor

[SD Realtor]

This is very good news.

SD Realtor

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