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sdrealtor
Participant[quote=Coronita][quote=scaredyclassic]Someone somewhere
Leads an average life
In the average house
With the average wife.Drinks an average beer
Eats average food
Watches average shows
With his average brood.But there’s only 1 of him.[/quote]
Not me man.
I live in a way below average home in 92130 in the “Slums of Carmel Valley”
I can no longer afford Beverly Mira Mesa in today’s prices. Those pesky tech workers with much deeper pockets.[/quote]
I’d be happy with an average tee time in the next few days. All these average WFH guys that moved here are making it tougher than ever to get one
Participant[quote=XBoxBoy][quote=JPJones][quote=deadzone][quote=spdrun]Average 30-yr was below 3% about 6 months ago. Now, it’s what, 4.25%? And the hikes are just beginning.[/quote]
Actually 4.68% today. But who’s counting? Apparently interest rates don’t impact the local housing market according to the “Professionals” on this board.[/quote]
What are your credentials? What is your source on that 4.68% number?[/quote]
I suspect that deadzone is quoting the rate listed on Mortgage News Daily. https://www.mortgagenewsdaily.com/
3/23/2020 the stated rate is 4.68%. Keep in mind that is an average for loans available yesterday. When sdrealtor quotes that a client just closed at such and such, that loan was started a month or more ago when rates were lower. And with points you can always lower your rate.
From my experience Mortgage news daily is well worth following if you want to see what rates are doing. The question/issue isn’t what rates are today, the question is how will these increased rates impact real estate. So far inventory numbers tell me the answer is not so much. Of course, maybe it’s too soon to tell.[/quote]
You are correct and of course I knew that and was just working over deadzone because it’s yet another example of how he does not understand in the slightest how real estate works. For that matter no one buys an average house or takes out an average mortgage. Average rates quoted on a site like that are for the country not here. The quality of borrower here is generally substantially higher than most places. The loans are also much bigger While still in the conventional range so the rates /fees are lower.
Participant[quote=JPJones][quote=deadzone][quote=spdrun]Average 30-yr was below 3% about 6 months ago. Now, it’s what, 4.25%? And the hikes are just beginning.[/quote]
Actually 4.68% today. But who’s counting? Apparently interest rates don’t impact the local housing market according to the “Professionals” on this board.[/quote]
What are your credentials? What is your source on that 4.68% number?[/quote]
The answer is when he enters his financial credentials he gets rates for sub prime loans
Participant[quote=scaredyclassic][quote=sdrealtor][quote=scaredyclassic][quote=sdrealtor][quote=scaredyclassic][quote=sdrealtor]Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!![/quote]
Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.[/quote]
Having spent a lot of time, effort and foregone much income the last 30 years in the name of living a life of integrity thats not something Im willing to give up in death[/quote]
Some religions believe lending with interest is immoral and lacks integrity. It is illegal, but arguments could be made it’s not immoral.[/quote]
I don’t lend money. I say no or I gift it[/quote]
I meant the whole usurious system might be immoral. If so, borrowing and not repaying might be no more immoral than the whole foundation of our economy, at least if youre anti usury[/quote]
The key is pay now, consume later. Friends ask me how can I justify drinking a bottle of wine that is now worth so much. My answer is I bought it years ago and don’t remember paying for it. Tonight we are drinking it, tonight it’s free
Participant[quote=deadzone][quote=sdrealtor] real estate is for pros[/quote]
Hah, funniest thing I’ve heard in a while. Any high school dropout can be a RE agent or mortgage broker, hardly a complex career field.
And those rates you quoted were BS. Show me evidence of an actual loan in SD that closed today with that rate? I dare you. Not happening.
Rates are currently 4.72% for 30year fixed. You can get this on any number of financial websites.[/quote]
Operators standing by…
ParticipantThey are basically building the equivalent of a country club community in the middle of the SD tech center. It’s hard to apply the old rules there as it’s a completely new category of living.
Which is better? That depends upon the specifics of your individual situation. If your trying to decide find someone capable of helping you figure out the answer. Not someone to tell you the answer but rather someone that fills the gaps in your knowledge base to help you make the best possible decision
Participant[quote=scaredyclassic][quote=sdrealtor][quote=scaredyclassic][quote=sdrealtor]Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!![/quote]
Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.[/quote]
Having spent a lot of time, effort and foregone much income the last 30 years in the name of living a life of integrity thats not something Im willing to give up in death[/quote]
Some religions believe lending with interest is immoral and lacks integrity. It is illegal, but arguments could be made it’s not immoral.[/quote]
I don’t lend money. I say no or I gift it
Participant[quote=deadzone][quote=spdrun]Average 30-yr was below 3% about 6 months ago. Now, it’s what, 4.25%? And the hikes are just beginning.[/quote]
Actually 4.68% today. But who’s counting? Apparently interest rates don’t impact the local housing market according to the “Professionals” on this board.[/quote]
Clients closed at 3.875 yesterday. Another locked at 4% today. Still waiting for you to accept that bet, I’ve got the deed to my house ready to put up to your $1000. You continue making ignorant claims while I bring verified data making you look the fool.
Operators are standing by. Call to get yours too!
ParticipantFWIW after spiking last week rates have fallen back the last 2 days
Participant[quote=limkotir]https://www.redfin.com/CA/San-Diego/7785-Norcanyon-Way-92126/home/4557024
Initially listed at $1.3m, then two days ago, changed to $1.65m. Is this the winning bid amount?https://www.redfin.com/CA/San-Diego/7885-Norcanyon-Way-92126/home/4555873
Slightly smaller home but with backyard canyon view at the end of the cul-de-sac sold for $1.585m on 3/8https://www.redfin.com/CA/San-Diego/11682-River-Rim-Rd-92126/home/4556159
Another similar home on a different street but within walking distance sold for $1.38m on 2/10… lost out on ~$200K in gains in 1 month?Is this insanity we’re observing here…? SDRealtor… your thoughts?[/quote]
When you see a price raised like that it is generally a signal that is the winning bid or close to it.
One thing to note is that these 3 houses are probably best of the best location/lots for existing tract homes in MM. The are also bigger and newer homes than most. Of course 3 Roots will change that. These new high comps pull everything up a bit with them but they are exceptions.
Id say 90% of the sfr market here in MM is the standard 1000 to 1700 sq ft mostly 1 story homes that are still mostly between 800k and 1M. Ive done a fair amount of sales here and still think there are lots of good solid opportunities for buyers here. The key is knowing the lay of the land to get a good lot/location and floorplan to work with. The MM inventory flow has been steady but limited and the good ones are out there.
Participant[quote=scaredyclassic][quote=sdrealtor]Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!![/quote]
Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.[/quote]
Having spent a lot of time, effort and foregone much income the last 30 years in the name of living a life of integrity thats not something Im willing to give up in death
ParticipantPlanning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!!
Participant[quote=deadzone][quote=sdrealtor] real estate is for pros[/quote]
Hah, funniest thing I’ve heard in a while. Any high school dropout can be a RE agent or mortgage broker, hardly a complex career field.
And those rates you quoted were BS. Show me evidence of an actual loan in SD that closed today with that rate? I dare you. Not happening.
Rates are currently 4.72% for 30year fixed. You can get this on any number of financial websites.[/quote]
You mean like this condo closing today at 3.875?
And if you don’t think it’s real how about a bet? I’ll put up the deed to my house and you put up say $1000? I’ll be happy to take your $$$
I don’t care, it’s just fun teasing you
And I know tons of people who are benefitting that are far from the wealthy class. It’s doomer permabears like you cheering for a crash that are among the suffering
And yes if you look on the mass media sites you see higher rates but people that actually buy know where to look at actual lenders. Go to aimloan.com
Local lender. You can get the posted rate right now. Give ‘em a call. Operators are standing by!! Gooal!!!
Participant[quote=XBoxBoy][quote=sdrealtor]A $7M house in Encinitas just sold the 1st day on market.
Buyer must be trying to get in before rates go up!![/quote]
I realize you’re just poking fun, but wouldn’t most buyers of $7mil properties be paying cash? How often are loans even involved in 4mil+ purchases?[/quote]
Of course they are. lol
Only exception I can think of is sometimes the big brokerages make big loans to clients based upon pledged assets
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