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smshorttimer
Participant[quote=UCGal]To sum up what they are saying:
– First time home buyers might be able to *buy* a house, but they can’t afford to *keep* the house. Especially if the ARM adjusts, there are taxes/HOAs not accounted for in the calcs, and they have an unexpected bill that puts the 40% threshold to close to the edge.
.. Heaven forbid they have normal things happen, like unpaid maternity leave, a car break down, etc…[/quote]
Did anyone else see the NAR economist story in the U-T today?
Participant[quote=UCGal]To sum up what they are saying:
– First time home buyers might be able to *buy* a house, but they can’t afford to *keep* the house. Especially if the ARM adjusts, there are taxes/HOAs not accounted for in the calcs, and they have an unexpected bill that puts the 40% threshold to close to the edge.
.. Heaven forbid they have normal things happen, like unpaid maternity leave, a car break down, etc…[/quote]
Did anyone else see the NAR economist story in the U-T today?
Participant[quote=UCGal]To sum up what they are saying:
– First time home buyers might be able to *buy* a house, but they can’t afford to *keep* the house. Especially if the ARM adjusts, there are taxes/HOAs not accounted for in the calcs, and they have an unexpected bill that puts the 40% threshold to close to the edge.
.. Heaven forbid they have normal things happen, like unpaid maternity leave, a car break down, etc…[/quote]
Did anyone else see the NAR economist story in the U-T today?
Participant[quote=UCGal]To sum up what they are saying:
– First time home buyers might be able to *buy* a house, but they can’t afford to *keep* the house. Especially if the ARM adjusts, there are taxes/HOAs not accounted for in the calcs, and they have an unexpected bill that puts the 40% threshold to close to the edge.
.. Heaven forbid they have normal things happen, like unpaid maternity leave, a car break down, etc…[/quote]
Did anyone else see the NAR economist story in the U-T today?
Participant[quote=Eugene][quote=CONCHO]This is a very nice 60K-80K house in many parts of the country, that would rent for $500-$600 a month.
I think the rent here for that place would be more than $1000/mo. They still overpaid in this case, people probably always will in certain neighborhoods.[/quote]
You don’t even have to go to a different part of the country.
Just a few miles away, south of 94, houses this exact size and age go for 75k-100k.
Location, location, location.[/quote]
I don’t pretend to be intimately familiar with all the downsides to living in the “city,” but this suburban kid would die to own in a place like Burlingame. Believe me, my wife has had her fill of that talk.
Participant[quote=Eugene][quote=CONCHO]This is a very nice 60K-80K house in many parts of the country, that would rent for $500-$600 a month.
I think the rent here for that place would be more than $1000/mo. They still overpaid in this case, people probably always will in certain neighborhoods.[/quote]
You don’t even have to go to a different part of the country.
Just a few miles away, south of 94, houses this exact size and age go for 75k-100k.
Location, location, location.[/quote]
I don’t pretend to be intimately familiar with all the downsides to living in the “city,” but this suburban kid would die to own in a place like Burlingame. Believe me, my wife has had her fill of that talk.
Participant[quote=Eugene][quote=CONCHO]This is a very nice 60K-80K house in many parts of the country, that would rent for $500-$600 a month.
I think the rent here for that place would be more than $1000/mo. They still overpaid in this case, people probably always will in certain neighborhoods.[/quote]
You don’t even have to go to a different part of the country.
Just a few miles away, south of 94, houses this exact size and age go for 75k-100k.
Location, location, location.[/quote]
I don’t pretend to be intimately familiar with all the downsides to living in the “city,” but this suburban kid would die to own in a place like Burlingame. Believe me, my wife has had her fill of that talk.
Participant[quote=Eugene][quote=CONCHO]This is a very nice 60K-80K house in many parts of the country, that would rent for $500-$600 a month.
I think the rent here for that place would be more than $1000/mo. They still overpaid in this case, people probably always will in certain neighborhoods.[/quote]
You don’t even have to go to a different part of the country.
Just a few miles away, south of 94, houses this exact size and age go for 75k-100k.
Location, location, location.[/quote]
I don’t pretend to be intimately familiar with all the downsides to living in the “city,” but this suburban kid would die to own in a place like Burlingame. Believe me, my wife has had her fill of that talk.
Participant[quote=Eugene][quote=CONCHO]This is a very nice 60K-80K house in many parts of the country, that would rent for $500-$600 a month.
I think the rent here for that place would be more than $1000/mo. They still overpaid in this case, people probably always will in certain neighborhoods.[/quote]
You don’t even have to go to a different part of the country.
Just a few miles away, south of 94, houses this exact size and age go for 75k-100k.
Location, location, location.[/quote]
I don’t pretend to be intimately familiar with all the downsides to living in the “city,” but this suburban kid would die to own in a place like Burlingame. Believe me, my wife has had her fill of that talk.
Participant[quote=bsrsharma]If your contract with your agent is expiring soon, wait till then and try the new trick. If not, gently inquire if you can terminate it. If asked, you may explain what may be happening. However, your offers might not have been considered (even if it was better) if the lower offer was all or mostly cash. The sure fire bet to winning the REO game is a low ball cash offer combined with a “highly motivated” selling agent.[/quote]
As mentioned, the “winner” supposedly got the house with a FHA loan.
I don’t doubt your strategy is a good one. In my case, “trying a new trick” would be getting a better paying job. I’m pretty much incapable of embracing any house that’s built after 1979 and in my price range.
That said, we submitted an offer on another short sale. So maybe that will change. It’s pre-’79! But oh-so suburban. North Park or MH, it ain’t.
Participant[quote=bsrsharma]If your contract with your agent is expiring soon, wait till then and try the new trick. If not, gently inquire if you can terminate it. If asked, you may explain what may be happening. However, your offers might not have been considered (even if it was better) if the lower offer was all or mostly cash. The sure fire bet to winning the REO game is a low ball cash offer combined with a “highly motivated” selling agent.[/quote]
As mentioned, the “winner” supposedly got the house with a FHA loan.
I don’t doubt your strategy is a good one. In my case, “trying a new trick” would be getting a better paying job. I’m pretty much incapable of embracing any house that’s built after 1979 and in my price range.
That said, we submitted an offer on another short sale. So maybe that will change. It’s pre-’79! But oh-so suburban. North Park or MH, it ain’t.
Participant[quote=bsrsharma]If your contract with your agent is expiring soon, wait till then and try the new trick. If not, gently inquire if you can terminate it. If asked, you may explain what may be happening. However, your offers might not have been considered (even if it was better) if the lower offer was all or mostly cash. The sure fire bet to winning the REO game is a low ball cash offer combined with a “highly motivated” selling agent.[/quote]
As mentioned, the “winner” supposedly got the house with a FHA loan.
I don’t doubt your strategy is a good one. In my case, “trying a new trick” would be getting a better paying job. I’m pretty much incapable of embracing any house that’s built after 1979 and in my price range.
That said, we submitted an offer on another short sale. So maybe that will change. It’s pre-’79! But oh-so suburban. North Park or MH, it ain’t.
Participant[quote=bsrsharma]If your contract with your agent is expiring soon, wait till then and try the new trick. If not, gently inquire if you can terminate it. If asked, you may explain what may be happening. However, your offers might not have been considered (even if it was better) if the lower offer was all or mostly cash. The sure fire bet to winning the REO game is a low ball cash offer combined with a “highly motivated” selling agent.[/quote]
As mentioned, the “winner” supposedly got the house with a FHA loan.
I don’t doubt your strategy is a good one. In my case, “trying a new trick” would be getting a better paying job. I’m pretty much incapable of embracing any house that’s built after 1979 and in my price range.
That said, we submitted an offer on another short sale. So maybe that will change. It’s pre-’79! But oh-so suburban. North Park or MH, it ain’t.
Participant[quote=bsrsharma]If your contract with your agent is expiring soon, wait till then and try the new trick. If not, gently inquire if you can terminate it. If asked, you may explain what may be happening. However, your offers might not have been considered (even if it was better) if the lower offer was all or mostly cash. The sure fire bet to winning the REO game is a low ball cash offer combined with a “highly motivated” selling agent.[/quote]
As mentioned, the “winner” supposedly got the house with a FHA loan.
I don’t doubt your strategy is a good one. In my case, “trying a new trick” would be getting a better paying job. I’m pretty much incapable of embracing any house that’s built after 1979 and in my price range.
That said, we submitted an offer on another short sale. So maybe that will change. It’s pre-’79! But oh-so suburban. North Park or MH, it ain’t.
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