[SD Realtor]

No the metaphor was meant for the uber bears who think, thought, continue to hope that the tsunami cannot be stopped. There are those believers that the govt will not go down with the ship. In reality the system has been forever changed and that the tsunami can indeed be diverted, reduced, or whatever you want to call it. There are plenty of people who can get workouts and mods, and will be able to maintain home ownership for quite awhile because of them. There are some who will default again. As long as the system can keep whittling down the numbers it will work. Walkways and jingle mail will happen as well but the system has shown resiliency and will let those people live for free until the system decides to deal with them individually.

What is quite interesting is the deal on the rates these people are getting in light of potential drastic interest rate hikes we can and will likely see in upcoming years. If you are saying Joe Buyer buys a home in 05, gets a loan mod in 09 or 10, has a 4.75 cap and in 2014 we are at 12% rates, he is doing pretty well. Screw it if he has to give his profits up if he sells. He is probably pretty darn happy.

Also I am quite skeptical of the ability of the banks to track owner occupancy as well.

I guess we will see!

[SD Realtor]

No the metaphor was meant for the uber bears who think, thought, continue to hope that the tsunami cannot be stopped. There are those believers that the govt will not go down with the ship. In reality the system has been forever changed and that the tsunami can indeed be diverted, reduced, or whatever you want to call it. There are plenty of people who can get workouts and mods, and will be able to maintain home ownership for quite awhile because of them. There are some who will default again. As long as the system can keep whittling down the numbers it will work. Walkways and jingle mail will happen as well but the system has shown resiliency and will let those people live for free until the system decides to deal with them individually.

What is quite interesting is the deal on the rates these people are getting in light of potential drastic interest rate hikes we can and will likely see in upcoming years. If you are saying Joe Buyer buys a home in 05, gets a loan mod in 09 or 10, has a 4.75 cap and in 2014 we are at 12% rates, he is doing pretty well. Screw it if he has to give his profits up if he sells. He is probably pretty darn happy.

Also I am quite skeptical of the ability of the banks to track owner occupancy as well.

I guess we will see!

[SD Realtor]

No the metaphor was meant for the uber bears who think, thought, continue to hope that the tsunami cannot be stopped. There are those believers that the govt will not go down with the ship. In reality the system has been forever changed and that the tsunami can indeed be diverted, reduced, or whatever you want to call it. There are plenty of people who can get workouts and mods, and will be able to maintain home ownership for quite awhile because of them. There are some who will default again. As long as the system can keep whittling down the numbers it will work. Walkways and jingle mail will happen as well but the system has shown resiliency and will let those people live for free until the system decides to deal with them individually.

What is quite interesting is the deal on the rates these people are getting in light of potential drastic interest rate hikes we can and will likely see in upcoming years. If you are saying Joe Buyer buys a home in 05, gets a loan mod in 09 or 10, has a 4.75 cap and in 2014 we are at 12% rates, he is doing pretty well. Screw it if he has to give his profits up if he sells. He is probably pretty darn happy.

Also I am quite skeptical of the ability of the banks to track owner occupancy as well.

I guess we will see!

[SD Realtor]

No the metaphor was meant for the uber bears who think, thought, continue to hope that the tsunami cannot be stopped. There are those believers that the govt will not go down with the ship. In reality the system has been forever changed and that the tsunami can indeed be diverted, reduced, or whatever you want to call it. There are plenty of people who can get workouts and mods, and will be able to maintain home ownership for quite awhile because of them. There are some who will default again. As long as the system can keep whittling down the numbers it will work. Walkways and jingle mail will happen as well but the system has shown resiliency and will let those people live for free until the system decides to deal with them individually.

What is quite interesting is the deal on the rates these people are getting in light of potential drastic interest rate hikes we can and will likely see in upcoming years. If you are saying Joe Buyer buys a home in 05, gets a loan mod in 09 or 10, has a 4.75 cap and in 2014 we are at 12% rates, he is doing pretty well. Screw it if he has to give his profits up if he sells. He is probably pretty darn happy.

Also I am quite skeptical of the ability of the banks to track owner occupancy as well.

I guess we will see!

[SD Realtor]

I have a former client in Vista who received a similar mod from Chase and it sounds almost identical. I never saw her docs but she was going to list and sell because she was in distress but after the mod she was happy as could be as she did not have to sell and could afford to stay.

Kicking the can down the road, taking the water out of the tsunami, choose your metaphor.

[SD Realtor]

I have a former client in Vista who received a similar mod from Chase and it sounds almost identical. I never saw her docs but she was going to list and sell because she was in distress but after the mod she was happy as could be as she did not have to sell and could afford to stay.

Kicking the can down the road, taking the water out of the tsunami, choose your metaphor.

[SD Realtor]

I have a former client in Vista who received a similar mod from Chase and it sounds almost identical. I never saw her docs but she was going to list and sell because she was in distress but after the mod she was happy as could be as she did not have to sell and could afford to stay.

Kicking the can down the road, taking the water out of the tsunami, choose your metaphor.

[SD Realtor]

I have a former client in Vista who received a similar mod from Chase and it sounds almost identical. I never saw her docs but she was going to list and sell because she was in distress but after the mod she was happy as could be as she did not have to sell and could afford to stay.

Kicking the can down the road, taking the water out of the tsunami, choose your metaphor.

[SD Realtor]

I have a former client in Vista who received a similar mod from Chase and it sounds almost identical. I never saw her docs but she was going to list and sell because she was in distress but after the mod she was happy as could be as she did not have to sell and could afford to stay.

Kicking the can down the road, taking the water out of the tsunami, choose your metaphor.

[SD Realtor]

CAR and JP I would agree with you guys and I really agree with DWCAP. I have noticed a change in Krugman since the elections and he really seems to be more of a mouthpiece for the party in power then anything else. I am not the biggest fan of Greenspan either but I also notice he seems a little more unplugged since he has been cut loose from Washington. Yes he is trusting of free markets to a fault however I do agree with his views more then Krugmans.

[SD Realtor]

CAR and JP I would agree with you guys and I really agree with DWCAP. I have noticed a change in Krugman since the elections and he really seems to be more of a mouthpiece for the party in power then anything else. I am not the biggest fan of Greenspan either but I also notice he seems a little more unplugged since he has been cut loose from Washington. Yes he is trusting of free markets to a fault however I do agree with his views more then Krugmans.

[SD Realtor]

CAR and JP I would agree with you guys and I really agree with DWCAP. I have noticed a change in Krugman since the elections and he really seems to be more of a mouthpiece for the party in power then anything else. I am not the biggest fan of Greenspan either but I also notice he seems a little more unplugged since he has been cut loose from Washington. Yes he is trusting of free markets to a fault however I do agree with his views more then Krugmans.

[SD Realtor]

CAR and JP I would agree with you guys and I really agree with DWCAP. I have noticed a change in Krugman since the elections and he really seems to be more of a mouthpiece for the party in power then anything else. I am not the biggest fan of Greenspan either but I also notice he seems a little more unplugged since he has been cut loose from Washington. Yes he is trusting of free markets to a fault however I do agree with his views more then Krugmans.

[SD Realtor]

CAR and JP I would agree with you guys and I really agree with DWCAP. I have noticed a change in Krugman since the elections and he really seems to be more of a mouthpiece for the party in power then anything else. I am not the biggest fan of Greenspan either but I also notice he seems a little more unplugged since he has been cut loose from Washington. Yes he is trusting of free markets to a fault however I do agree with his views more then Krugmans.

[SD Realtor]

Yes you could!

A few things…. and this is probably out of personal preference but I still think it is good advice. Don’t buy on a busier street. Don’t buy a home that backs to a noisy street or freeway. Never underestimate orientation along with peace and quiet and furthermore safety if you have kids. It just is not worth it. You said it yourself, you can always fix up a home. You can never make a noisy area quieter. You can never make your neighbors home better either. PUSD is great but is it nirvana? Certainly not. Yes for 500k you could find some nicer alternatives. They may be a bit farther away or a different school district but… maybe it is a consideration. Kind of makes your head spin if you think about it to much though so my advice is to enjoy the beach this weekend. You have been shooting up housing to much lately.

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