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SD Realtor
ParticipantUnfortunately this is not new news, though it does irritate lots of us.
Realistically though I am not so sure this will affect housing prices here in San Diego, especially in the areas that are more desireable. Percentage wise if they knock the conforming limit up 20% that pushes things up to the low 500’s… I doubt that would affect us here much but yes it would help nationally.
SD Realtor
SD Realtor
ParticipantThe main problem is that people are simply impatient. If people had longer horizons such as a few years rather then a few months then I don’t think there would be as much angst where we see posts complaining that prices are not reacting like they should or the market is irrational. The problem is that many people really really really REALLY want to own a home. While it is upsetting to see the median price reports come out monthly and sometimes they are up and other times they are down, it should not really affect your outlook. The latest lurch on Wall Street combined with the secondary market putting the squeeze on mortgage originators fueled some interesting posts here. I think it is nice to hope for large double digit drops in a few months, yet IMO if that does happen it will happen in the less desireable areas. Bugs had some good points… look at sales volumes, look at certain ratios… These are more telling then our untrustworthy median. Have lots of patience.
SD Realtor
SD Realtor
ParticipantThe main problem is that people are simply impatient. If people had longer horizons such as a few years rather then a few months then I don’t think there would be as much angst where we see posts complaining that prices are not reacting like they should or the market is irrational. The problem is that many people really really really REALLY want to own a home. While it is upsetting to see the median price reports come out monthly and sometimes they are up and other times they are down, it should not really affect your outlook. The latest lurch on Wall Street combined with the secondary market putting the squeeze on mortgage originators fueled some interesting posts here. I think it is nice to hope for large double digit drops in a few months, yet IMO if that does happen it will happen in the less desireable areas. Bugs had some good points… look at sales volumes, look at certain ratios… These are more telling then our untrustworthy median. Have lots of patience.
SD Realtor
SD Realtor
ParticipantThe main problem is that people are simply impatient. If people had longer horizons such as a few years rather then a few months then I don’t think there would be as much angst where we see posts complaining that prices are not reacting like they should or the market is irrational. The problem is that many people really really really REALLY want to own a home. While it is upsetting to see the median price reports come out monthly and sometimes they are up and other times they are down, it should not really affect your outlook. The latest lurch on Wall Street combined with the secondary market putting the squeeze on mortgage originators fueled some interesting posts here. I think it is nice to hope for large double digit drops in a few months, yet IMO if that does happen it will happen in the less desireable areas. Bugs had some good points… look at sales volumes, look at certain ratios… These are more telling then our untrustworthy median. Have lots of patience.
SD Realtor
SD Realtor
ParticipantPOZ yeah I encounter people that still indeed don’t seem to get it. I have a listing in Ramona that has expired and relisted and has had like no traffic. Before I took the listing the guy was listed with another Realtor and it didn’t sell then either. I told the seller I honestly thought it was a waste of time to list the home unless he was going to reprice it in a drastic manner but he refuses.
I had a call with an owner of a lot in a very nice area of town who was listed with Prudential for over 200 days last year. It didn’t sell… it didn’t get a bite at all. Now she wants to list with me at a slightly lower price but not nearly what I recommended…
So what can you do…
SD Realtor
SD Realtor
ParticipantPOZ yeah I encounter people that still indeed don’t seem to get it. I have a listing in Ramona that has expired and relisted and has had like no traffic. Before I took the listing the guy was listed with another Realtor and it didn’t sell then either. I told the seller I honestly thought it was a waste of time to list the home unless he was going to reprice it in a drastic manner but he refuses.
I had a call with an owner of a lot in a very nice area of town who was listed with Prudential for over 200 days last year. It didn’t sell… it didn’t get a bite at all. Now she wants to list with me at a slightly lower price but not nearly what I recommended…
So what can you do…
SD Realtor
SD Realtor
ParticipantPOZ yeah I encounter people that still indeed don’t seem to get it. I have a listing in Ramona that has expired and relisted and has had like no traffic. Before I took the listing the guy was listed with another Realtor and it didn’t sell then either. I told the seller I honestly thought it was a waste of time to list the home unless he was going to reprice it in a drastic manner but he refuses.
I had a call with an owner of a lot in a very nice area of town who was listed with Prudential for over 200 days last year. It didn’t sell… it didn’t get a bite at all. Now she wants to list with me at a slightly lower price but not nearly what I recommended…
So what can you do…
SD Realtor
August 5, 2007 at 11:03 PM in reply to: Wesley Hogan or “the biggest no brainer in the history of mankind” #70735SD Realtor
ParticipantHLS the MMA and NR scheme are essentially the same. It is really unreal how many people actually pay to do this. They are recruiting agents everywhere to push this product…
So the first thing you do of course is to get a big fat HELOC… Then you purchase the software they have. Basically the “software” does nothing but analyze your monthly cash flow. The idea is that you pay down your primary mortgage early by making additional payments on your balance. If your monthly cash flow happens to be a little bit low in a given month, then you simply take money from the HELOC to push down your balance even more.
Wow is this rocket science or what?
So basically you are spending a few thousand bucks to push yourself more in debt and make early payments on your primary mortgage which most likely will have a better rate then any HELOC you would get.
I may not be absolutely correct but this was the jist of it… after I heard the HELOC part my eyes glazed over and I counted ceiling tiles for the rest of the presentation.
SD Realtor
August 5, 2007 at 11:03 PM in reply to: Wesley Hogan or “the biggest no brainer in the history of mankind” #70850SD Realtor
ParticipantHLS the MMA and NR scheme are essentially the same. It is really unreal how many people actually pay to do this. They are recruiting agents everywhere to push this product…
So the first thing you do of course is to get a big fat HELOC… Then you purchase the software they have. Basically the “software” does nothing but analyze your monthly cash flow. The idea is that you pay down your primary mortgage early by making additional payments on your balance. If your monthly cash flow happens to be a little bit low in a given month, then you simply take money from the HELOC to push down your balance even more.
Wow is this rocket science or what?
So basically you are spending a few thousand bucks to push yourself more in debt and make early payments on your primary mortgage which most likely will have a better rate then any HELOC you would get.
I may not be absolutely correct but this was the jist of it… after I heard the HELOC part my eyes glazed over and I counted ceiling tiles for the rest of the presentation.
SD Realtor
August 5, 2007 at 11:03 PM in reply to: Wesley Hogan or “the biggest no brainer in the history of mankind” #70857SD Realtor
ParticipantHLS the MMA and NR scheme are essentially the same. It is really unreal how many people actually pay to do this. They are recruiting agents everywhere to push this product…
So the first thing you do of course is to get a big fat HELOC… Then you purchase the software they have. Basically the “software” does nothing but analyze your monthly cash flow. The idea is that you pay down your primary mortgage early by making additional payments on your balance. If your monthly cash flow happens to be a little bit low in a given month, then you simply take money from the HELOC to push down your balance even more.
Wow is this rocket science or what?
So basically you are spending a few thousand bucks to push yourself more in debt and make early payments on your primary mortgage which most likely will have a better rate then any HELOC you would get.
I may not be absolutely correct but this was the jist of it… after I heard the HELOC part my eyes glazed over and I counted ceiling tiles for the rest of the presentation.
SD Realtor
August 5, 2007 at 9:28 PM in reply to: Wesley Hogan or “the biggest no brainer in the history of mankind” #70685SD Realtor
ParticipantHLS the MMA is pretty crafty… not really new as it has been around a few years now but it has a nice shade of marketing to fool people.
I have guys always trying to push that one on me.
Alan you got it… It is the same thing as NR…
SD Realtor
August 5, 2007 at 9:28 PM in reply to: Wesley Hogan or “the biggest no brainer in the history of mankind” #70801SD Realtor
ParticipantHLS the MMA is pretty crafty… not really new as it has been around a few years now but it has a nice shade of marketing to fool people.
I have guys always trying to push that one on me.
Alan you got it… It is the same thing as NR…
SD Realtor
August 5, 2007 at 9:28 PM in reply to: Wesley Hogan or “the biggest no brainer in the history of mankind” #70805SD Realtor
ParticipantHLS the MMA is pretty crafty… not really new as it has been around a few years now but it has a nice shade of marketing to fool people.
I have guys always trying to push that one on me.
Alan you got it… It is the same thing as NR…
SD Realtor
SD Realtor
ParticipantAllan I am not a finance guy but I think the fact that M3 is not reported is quite incredible. It makes one think that the printing presses have been operating for quite a long time. I am not talking conspiracy… it is just kind of… well unsettling (to say the least)… I am surprised more people never seem to talk about that.
SD Realtor
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