[sheilawellington]

Unfortunately these policy changes will slow down the reduction in prices that we expect. Of course, many of the new borrowers will become FBs, banks will lose money, or rather, Freddie and Fannie will.

Then the Fed will have to bail them out and print more money in the process… I can only see inflation increasing at high rates in ’08 and beyond.

Raising the conforming limits will come at a cost. We’ll pay for it.

[sheilawellington]

Unfortunately these policy changes will slow down the reduction in prices that we expect. Of course, many of the new borrowers will become FBs, banks will lose money, or rather, Freddie and Fannie will.

Then the Fed will have to bail them out and print more money in the process… I can only see inflation increasing at high rates in ’08 and beyond.

Raising the conforming limits will come at a cost. We’ll pay for it.

[sheilawellington]

Thank you all for the great advice. I’ve found out who the regional SVP of sales is (from a 5-month old LA Times article). Do I just call him and make my offer over the phone? Or do I give my written offer/cashier’s check/bank approval letter to the sales agent, and then call the SVP?

Asking for landscaping, flooring, 5 years of HOA fees, etc., may allow the builder to keep the price a little closer to $900K.

[sheilawellington]

Thank you all for the great advice. I’ve found out who the regional SVP of sales is (from a 5-month old LA Times article). Do I just call him and make my offer over the phone? Or do I give my written offer/cashier’s check/bank approval letter to the sales agent, and then call the SVP?

Asking for landscaping, flooring, 5 years of HOA fees, etc., may allow the builder to keep the price a little closer to $900K.

[sheilawellington]

Thank you all for the great advice. I’ve found out who the regional SVP of sales is (from a 5-month old LA Times article). Do I just call him and make my offer over the phone? Or do I give my written offer/cashier’s check/bank approval letter to the sales agent, and then call the SVP?

Asking for landscaping, flooring, 5 years of HOA fees, etc., may allow the builder to keep the price a little closer to $900K.

[sheilawellington]

Thank you all for the great advice. I’ve found out who the regional SVP of sales is (from a 5-month old LA Times article). Do I just call him and make my offer over the phone? Or do I give my written offer/cashier’s check/bank approval letter to the sales agent, and then call the SVP?

Asking for landscaping, flooring, 5 years of HOA fees, etc., may allow the builder to keep the price a little closer to $900K.

[sheilawellington]

Thank you all for the great advice. I’ve found out who the regional SVP of sales is (from a 5-month old LA Times article). Do I just call him and make my offer over the phone? Or do I give my written offer/cashier’s check/bank approval letter to the sales agent, and then call the SVP?

Asking for landscaping, flooring, 5 years of HOA fees, etc., may allow the builder to keep the price a little closer to $900K.

[sheilawellington]

sd_matt, I don’t think banks have to meet sales targets in a given calendar/fiscal quarter. What I’ve heard from accountant friends, is that internal and external auditors are pressuring the banks (very effectively) to mark their assets to market.

Without this “pressure” banks’ asset managers would be happy to keep a REO property on their books at a fantasy price (say, whatever the defaulted loan amount was). Over time, as they value their assets at more realistic prices, it becomes easier to sell them because they are not as ridiculously overpriced as only a year ago.

[sheilawellington]

sd_matt, I don’t think banks have to meet sales targets in a given calendar/fiscal quarter. What I’ve heard from accountant friends, is that internal and external auditors are pressuring the banks (very effectively) to mark their assets to market.

Without this “pressure” banks’ asset managers would be happy to keep a REO property on their books at a fantasy price (say, whatever the defaulted loan amount was). Over time, as they value their assets at more realistic prices, it becomes easier to sell them because they are not as ridiculously overpriced as only a year ago.

[sheilawellington]

sd_matt, I don’t think banks have to meet sales targets in a given calendar/fiscal quarter. What I’ve heard from accountant friends, is that internal and external auditors are pressuring the banks (very effectively) to mark their assets to market.

Without this “pressure” banks’ asset managers would be happy to keep a REO property on their books at a fantasy price (say, whatever the defaulted loan amount was). Over time, as they value their assets at more realistic prices, it becomes easier to sell them because they are not as ridiculously overpriced as only a year ago.

[sheilawellington]

sd_matt, I don’t think banks have to meet sales targets in a given calendar/fiscal quarter. What I’ve heard from accountant friends, is that internal and external auditors are pressuring the banks (very effectively) to mark their assets to market.

Without this “pressure” banks’ asset managers would be happy to keep a REO property on their books at a fantasy price (say, whatever the defaulted loan amount was). Over time, as they value their assets at more realistic prices, it becomes easier to sell them because they are not as ridiculously overpriced as only a year ago.

[sheilawellington]

sd_matt, I don’t think banks have to meet sales targets in a given calendar/fiscal quarter. What I’ve heard from accountant friends, is that internal and external auditors are pressuring the banks (very effectively) to mark their assets to market.

Without this “pressure” banks’ asset managers would be happy to keep a REO property on their books at a fantasy price (say, whatever the defaulted loan amount was). Over time, as they value their assets at more realistic prices, it becomes easier to sell them because they are not as ridiculously overpriced as only a year ago.

[sheilawellington]

Thank you so much for the excellent advice. There are no Mello Roos in this community, but I guess I could ask the builder to pay for the flooring, or 2 years of HOA, etc. Of course, that way the property tax would be a little higher than if I paid $800K. I like the idea of bypassing the sales office clerk too!

[sheilawellington]

Thank you so much for the excellent advice. There are no Mello Roos in this community, but I guess I could ask the builder to pay for the flooring, or 2 years of HOA, etc. Of course, that way the property tax would be a little higher than if I paid $800K. I like the idea of bypassing the sales office clerk too!

[sheilawellington]

Thank you so much for the excellent advice. There are no Mello Roos in this community, but I guess I could ask the builder to pay for the flooring, or 2 years of HOA, etc. Of course, that way the property tax would be a little higher than if I paid $800K. I like the idea of bypassing the sales office clerk too!

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