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SD Realtor
ParticipantYeah I thought it was kind of funny as I chugged along in the old Murano.
SD Realtor
ParticipantYeah I thought it was kind of funny as I chugged along in the old Murano.
SD Realtor
ParticipantI don’t see this happening. This would turn the underlying asset backing up the security into an entirely different entity then it started out as. There is also an oversimplification that you are talking about. There are multiple lenders if there is more then one mortgage right? Furthermore the bank/lender/servicing organization also takes on liability by turning the home into a rental. What happens if the tenant injures himself in the home due to a problem with the home? What happens when the tenant stops paying rent and needs to be evicted? Basically I don’t see any of this happening at all. We have had threads in the past bringing this up and some posters swear that this has indeed happened before. Perhaps it has but I am not familiar with it… then again I am just a pup with regards to tenure so take my opinion with lots of grains of salt.
SD Realtor
ParticipantI don’t see this happening. This would turn the underlying asset backing up the security into an entirely different entity then it started out as. There is also an oversimplification that you are talking about. There are multiple lenders if there is more then one mortgage right? Furthermore the bank/lender/servicing organization also takes on liability by turning the home into a rental. What happens if the tenant injures himself in the home due to a problem with the home? What happens when the tenant stops paying rent and needs to be evicted? Basically I don’t see any of this happening at all. We have had threads in the past bringing this up and some posters swear that this has indeed happened before. Perhaps it has but I am not familiar with it… then again I am just a pup with regards to tenure so take my opinion with lots of grains of salt.
SD Realtor
ParticipantI don’t see this happening. This would turn the underlying asset backing up the security into an entirely different entity then it started out as. There is also an oversimplification that you are talking about. There are multiple lenders if there is more then one mortgage right? Furthermore the bank/lender/servicing organization also takes on liability by turning the home into a rental. What happens if the tenant injures himself in the home due to a problem with the home? What happens when the tenant stops paying rent and needs to be evicted? Basically I don’t see any of this happening at all. We have had threads in the past bringing this up and some posters swear that this has indeed happened before. Perhaps it has but I am not familiar with it… then again I am just a pup with regards to tenure so take my opinion with lots of grains of salt.
SD Realtor
ParticipantI don’t see this happening. This would turn the underlying asset backing up the security into an entirely different entity then it started out as. There is also an oversimplification that you are talking about. There are multiple lenders if there is more then one mortgage right? Furthermore the bank/lender/servicing organization also takes on liability by turning the home into a rental. What happens if the tenant injures himself in the home due to a problem with the home? What happens when the tenant stops paying rent and needs to be evicted? Basically I don’t see any of this happening at all. We have had threads in the past bringing this up and some posters swear that this has indeed happened before. Perhaps it has but I am not familiar with it… then again I am just a pup with regards to tenure so take my opinion with lots of grains of salt.
SD Realtor
ParticipantI don’t see this happening. This would turn the underlying asset backing up the security into an entirely different entity then it started out as. There is also an oversimplification that you are talking about. There are multiple lenders if there is more then one mortgage right? Furthermore the bank/lender/servicing organization also takes on liability by turning the home into a rental. What happens if the tenant injures himself in the home due to a problem with the home? What happens when the tenant stops paying rent and needs to be evicted? Basically I don’t see any of this happening at all. We have had threads in the past bringing this up and some posters swear that this has indeed happened before. Perhaps it has but I am not familiar with it… then again I am just a pup with regards to tenure so take my opinion with lots of grains of salt.
SD Realtor
Participanthahahahah…
coop you cracked me up… after about the third or fourth post I was thinking the same thing. Also I love the quote about opinions and assholes…. I try not to be an asshole… but sometimes I cannot help myself…
Well I guess I will go back to the thread about the girl who gives handjobs to her porn industry tech hubby.
SD Realtor
Participanthahahahah…
coop you cracked me up… after about the third or fourth post I was thinking the same thing. Also I love the quote about opinions and assholes…. I try not to be an asshole… but sometimes I cannot help myself…
Well I guess I will go back to the thread about the girl who gives handjobs to her porn industry tech hubby.
SD Realtor
Participanthahahahah…
coop you cracked me up… after about the third or fourth post I was thinking the same thing. Also I love the quote about opinions and assholes…. I try not to be an asshole… but sometimes I cannot help myself…
Well I guess I will go back to the thread about the girl who gives handjobs to her porn industry tech hubby.
SD Realtor
Participanthahahahah…
coop you cracked me up… after about the third or fourth post I was thinking the same thing. Also I love the quote about opinions and assholes…. I try not to be an asshole… but sometimes I cannot help myself…
Well I guess I will go back to the thread about the girl who gives handjobs to her porn industry tech hubby.
SD Realtor
Participanthahahahah…
coop you cracked me up… after about the third or fourth post I was thinking the same thing. Also I love the quote about opinions and assholes…. I try not to be an asshole… but sometimes I cannot help myself…
Well I guess I will go back to the thread about the girl who gives handjobs to her porn industry tech hubby.
SD Realtor
ParticipantI have commented on this before and will do it again. If you are looking for a price point that fits your budget, then picking a number and looking for it, is the way to go.
Make no mistake though, the price at which we bottom out (anywhere including my home base of Scripps) will have nothing to do with my budget, or any of your budgets. It will not have to do with 2001, 2002, or 1999. It will have to do with indicators such as volume, such as foreclosures, such as interest rates, active/pending ratios, etc…These indicators will tell you where we are in the depreciation cycle. The median price of the home you want at the time when those indicators are signaling that the depreciation cycle is slowing down may or may not have reached your personal threshold. You guys see what I am saying? These other metrics will help you make sure you didn’t go in to early and that maybe you don’t miss the bottom either.
Now the only thing that I worry about is a false bottom. That is, in 2009,2010, or 2011 we MAY indeed see alot of these indicators signal a significant move such that the depreciation cycle may appear to be ending. However the second wave of resets for prime properties or something of that nature may then come in and who knows, maybe we have another shot downward after a year or two of calm. This may be paranoia on my part. I don’t know…. I just cringe every time I read people saying things like, “what price point do you think is the bottom, or where would you buy at?”
Finally, this afternoon I saw a black car driving up I15 with a license plate that said sd bear!
bear was that you?
ParticipantI have commented on this before and will do it again. If you are looking for a price point that fits your budget, then picking a number and looking for it, is the way to go.
Make no mistake though, the price at which we bottom out (anywhere including my home base of Scripps) will have nothing to do with my budget, or any of your budgets. It will not have to do with 2001, 2002, or 1999. It will have to do with indicators such as volume, such as foreclosures, such as interest rates, active/pending ratios, etc…These indicators will tell you where we are in the depreciation cycle. The median price of the home you want at the time when those indicators are signaling that the depreciation cycle is slowing down may or may not have reached your personal threshold. You guys see what I am saying? These other metrics will help you make sure you didn’t go in to early and that maybe you don’t miss the bottom either.
Now the only thing that I worry about is a false bottom. That is, in 2009,2010, or 2011 we MAY indeed see alot of these indicators signal a significant move such that the depreciation cycle may appear to be ending. However the second wave of resets for prime properties or something of that nature may then come in and who knows, maybe we have another shot downward after a year or two of calm. This may be paranoia on my part. I don’t know…. I just cringe every time I read people saying things like, “what price point do you think is the bottom, or where would you buy at?”
Finally, this afternoon I saw a black car driving up I15 with a license plate that said sd bear!
bear was that you?
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