[SD Realtor]

Not a problem nostra –

11587 went pending on 11/10/07. Remind me to look at the closing price in 3-4 weeks.

SD Realtor

PS – Auction date supposedly was 9/12/07 for a judgement of 613k. However the current realist tax roll that I access using the MLS lists the sellers as still being the owners. So either the realist tax roll has not been updated and the bank does indeed own the home, OR the sellers received a short sale offer and the lender sat on it for a few weeks/months to review it and postponed the auction.

The postponement would not surprise me. I have a short sale listing right now that is supposed to go to auction on 11/29 and the lender told me they are going to postpone it to review the short sale package that I submitted to them.

Also recall I have seen ALOT of short sales that are listed as ACTIVE on the MLS (thus they will active on sdlookup/zillow/etc) and they already have received an offer but are waiting for the lender to get back to them. This is taking anywhere from 3-?? weeks. They will not put it into pending until they actually get an acceptance from the lender.

Hope this helps…

[SD Realtor]

Not a problem nostra –

11587 went pending on 11/10/07. Remind me to look at the closing price in 3-4 weeks.

SD Realtor

PS – Auction date supposedly was 9/12/07 for a judgement of 613k. However the current realist tax roll that I access using the MLS lists the sellers as still being the owners. So either the realist tax roll has not been updated and the bank does indeed own the home, OR the sellers received a short sale offer and the lender sat on it for a few weeks/months to review it and postponed the auction.

The postponement would not surprise me. I have a short sale listing right now that is supposed to go to auction on 11/29 and the lender told me they are going to postpone it to review the short sale package that I submitted to them.

Also recall I have seen ALOT of short sales that are listed as ACTIVE on the MLS (thus they will active on sdlookup/zillow/etc) and they already have received an offer but are waiting for the lender to get back to them. This is taking anywhere from 3-?? weeks. They will not put it into pending until they actually get an acceptance from the lender.

Hope this helps…

[SD Realtor]

Not a problem nostra –

11587 went pending on 11/10/07. Remind me to look at the closing price in 3-4 weeks.

SD Realtor

PS – Auction date supposedly was 9/12/07 for a judgement of 613k. However the current realist tax roll that I access using the MLS lists the sellers as still being the owners. So either the realist tax roll has not been updated and the bank does indeed own the home, OR the sellers received a short sale offer and the lender sat on it for a few weeks/months to review it and postponed the auction.

The postponement would not surprise me. I have a short sale listing right now that is supposed to go to auction on 11/29 and the lender told me they are going to postpone it to review the short sale package that I submitted to them.

Also recall I have seen ALOT of short sales that are listed as ACTIVE on the MLS (thus they will active on sdlookup/zillow/etc) and they already have received an offer but are waiting for the lender to get back to them. This is taking anywhere from 3-?? weeks. They will not put it into pending until they actually get an acceptance from the lender.

Hope this helps…

[SD Realtor]

Not a problem nostra –

11587 went pending on 11/10/07. Remind me to look at the closing price in 3-4 weeks.

SD Realtor

PS – Auction date supposedly was 9/12/07 for a judgement of 613k. However the current realist tax roll that I access using the MLS lists the sellers as still being the owners. So either the realist tax roll has not been updated and the bank does indeed own the home, OR the sellers received a short sale offer and the lender sat on it for a few weeks/months to review it and postponed the auction.

The postponement would not surprise me. I have a short sale listing right now that is supposed to go to auction on 11/29 and the lender told me they are going to postpone it to review the short sale package that I submitted to them.

Also recall I have seen ALOT of short sales that are listed as ACTIVE on the MLS (thus they will active on sdlookup/zillow/etc) and they already have received an offer but are waiting for the lender to get back to them. This is taking anywhere from 3-?? weeks. They will not put it into pending until they actually get an acceptance from the lender.

Hope this helps…

[SD Realtor]

Not a problem nostra –

11587 went pending on 11/10/07. Remind me to look at the closing price in 3-4 weeks.

SD Realtor

PS – Auction date supposedly was 9/12/07 for a judgement of 613k. However the current realist tax roll that I access using the MLS lists the sellers as still being the owners. So either the realist tax roll has not been updated and the bank does indeed own the home, OR the sellers received a short sale offer and the lender sat on it for a few weeks/months to review it and postponed the auction.

The postponement would not surprise me. I have a short sale listing right now that is supposed to go to auction on 11/29 and the lender told me they are going to postpone it to review the short sale package that I submitted to them.

Also recall I have seen ALOT of short sales that are listed as ACTIVE on the MLS (thus they will active on sdlookup/zillow/etc) and they already have received an offer but are waiting for the lender to get back to them. This is taking anywhere from 3-?? weeks. They will not put it into pending until they actually get an acceptance from the lender.

Hope this helps…

[SD Realtor]

Alarmclock no you cannot lock any mortgage rate in advance. You need to send in the fully executed purchase agreement on a home to get the loan process started.

I am by no means a mortgage expert however I was under the impression that many of the resets were to the Libor rather then the Fed Funds. Not that it makes a whole lot of difference…

The 10 year treasury yield is still the best vehicle IMO to track long term mortgage trends. However the premium for underwriting these has increased. Once upon a time I used to use about 1.25% as a fudge factor off of the 10 year to guestimate a fully amortized (conforming) 30 year fixed rate mortgage at 1 point. Now I am not so sure what value to use.

I actually do believe that if we ever enter a point where mortgage rates are depressed to ridiculous values (say 5% for a fixed 30 year jumbo) then yes IMO that will help prop up sales as long as there is not a wholesale recession. Now I don’t see those rates ever happening… but ya never know. Wall Street and our government may do anything to hold off the big bang.

SD Realtor

[SD Realtor]

Alarmclock no you cannot lock any mortgage rate in advance. You need to send in the fully executed purchase agreement on a home to get the loan process started.

I am by no means a mortgage expert however I was under the impression that many of the resets were to the Libor rather then the Fed Funds. Not that it makes a whole lot of difference…

The 10 year treasury yield is still the best vehicle IMO to track long term mortgage trends. However the premium for underwriting these has increased. Once upon a time I used to use about 1.25% as a fudge factor off of the 10 year to guestimate a fully amortized (conforming) 30 year fixed rate mortgage at 1 point. Now I am not so sure what value to use.

I actually do believe that if we ever enter a point where mortgage rates are depressed to ridiculous values (say 5% for a fixed 30 year jumbo) then yes IMO that will help prop up sales as long as there is not a wholesale recession. Now I don’t see those rates ever happening… but ya never know. Wall Street and our government may do anything to hold off the big bang.

SD Realtor

[SD Realtor]

Alarmclock no you cannot lock any mortgage rate in advance. You need to send in the fully executed purchase agreement on a home to get the loan process started.

I am by no means a mortgage expert however I was under the impression that many of the resets were to the Libor rather then the Fed Funds. Not that it makes a whole lot of difference…

The 10 year treasury yield is still the best vehicle IMO to track long term mortgage trends. However the premium for underwriting these has increased. Once upon a time I used to use about 1.25% as a fudge factor off of the 10 year to guestimate a fully amortized (conforming) 30 year fixed rate mortgage at 1 point. Now I am not so sure what value to use.

I actually do believe that if we ever enter a point where mortgage rates are depressed to ridiculous values (say 5% for a fixed 30 year jumbo) then yes IMO that will help prop up sales as long as there is not a wholesale recession. Now I don’t see those rates ever happening… but ya never know. Wall Street and our government may do anything to hold off the big bang.

SD Realtor

[SD Realtor]

Alarmclock no you cannot lock any mortgage rate in advance. You need to send in the fully executed purchase agreement on a home to get the loan process started.

I am by no means a mortgage expert however I was under the impression that many of the resets were to the Libor rather then the Fed Funds. Not that it makes a whole lot of difference…

The 10 year treasury yield is still the best vehicle IMO to track long term mortgage trends. However the premium for underwriting these has increased. Once upon a time I used to use about 1.25% as a fudge factor off of the 10 year to guestimate a fully amortized (conforming) 30 year fixed rate mortgage at 1 point. Now I am not so sure what value to use.

I actually do believe that if we ever enter a point where mortgage rates are depressed to ridiculous values (say 5% for a fixed 30 year jumbo) then yes IMO that will help prop up sales as long as there is not a wholesale recession. Now I don’t see those rates ever happening… but ya never know. Wall Street and our government may do anything to hold off the big bang.

SD Realtor

[SD Realtor]

Alarmclock no you cannot lock any mortgage rate in advance. You need to send in the fully executed purchase agreement on a home to get the loan process started.

I am by no means a mortgage expert however I was under the impression that many of the resets were to the Libor rather then the Fed Funds. Not that it makes a whole lot of difference…

The 10 year treasury yield is still the best vehicle IMO to track long term mortgage trends. However the premium for underwriting these has increased. Once upon a time I used to use about 1.25% as a fudge factor off of the 10 year to guestimate a fully amortized (conforming) 30 year fixed rate mortgage at 1 point. Now I am not so sure what value to use.

I actually do believe that if we ever enter a point where mortgage rates are depressed to ridiculous values (say 5% for a fixed 30 year jumbo) then yes IMO that will help prop up sales as long as there is not a wholesale recession. Now I don’t see those rates ever happening… but ya never know. Wall Street and our government may do anything to hold off the big bang.

SD Realtor

[SD Realtor]

Are you sure you have recent information. Sales price is 690k on the MLS back in 4/30/07. Doesn’t look like it was an REO to me either. Perhaps I am missing something?

SD Realtor

[SD Realtor]

Are you sure you have recent information. Sales price is 690k on the MLS back in 4/30/07. Doesn’t look like it was an REO to me either. Perhaps I am missing something?

SD Realtor

[SD Realtor]

Are you sure you have recent information. Sales price is 690k on the MLS back in 4/30/07. Doesn’t look like it was an REO to me either. Perhaps I am missing something?

SD Realtor

[SD Realtor]

Are you sure you have recent information. Sales price is 690k on the MLS back in 4/30/07. Doesn’t look like it was an REO to me either. Perhaps I am missing something?

SD Realtor

[SD Realtor]

Are you sure you have recent information. Sales price is 690k on the MLS back in 4/30/07. Doesn’t look like it was an REO to me either. Perhaps I am missing something?

SD Realtor

[Author]

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