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sobmaz
ParticipantIt must have been a cash buyer and no bank appraisal was necessary.
The buyer probably got frustrated with not getting other houses they may have bid on and then in the frenzy of things offered way too much.
If so, not a very smart buyer.
Just a theory.
July 2, 2009 at 6:05 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424341ParticipantMy whole point is your average s.d. family does not have 4K a month for housing.
July 2, 2009 at 6:05 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424573ParticipantMy whole point is your average s.d. family does not have 4K a month for housing.
July 2, 2009 at 6:05 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424856ParticipantMy whole point is your average s.d. family does not have 4K a month for housing.
July 2, 2009 at 6:05 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424924ParticipantMy whole point is your average s.d. family does not have 4K a month for housing.
July 2, 2009 at 6:05 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #425088ParticipantMy whole point is your average s.d. family does not have 4K a month for housing.
July 2, 2009 at 5:36 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424321ParticipantI am with you.
Check this out….MLS #: 090033059
It is listed for a bargain basement price of 525k and is currently rented for…..2485 a month.
With 3.5% down and 5.5% 30 year payment for principal and interest is 2980 a month.
2980 principal and interest
565 HOA fee monthly
500 tax per month aprox
150 per month insurance and interior maintenance.TOTAL 4195 PER MONTH!!
And, this is based upon the Fed manipulating 30 year rates way below what it would be otherwise.
The question is, for what reason would anyone buy this? The only answer is the bubble mentality. The belief burnt into everyone younger than 45 that real estate goes up 10% plus per year on average. For what other reason would someone lock themselves into a situation where their monthly payments will be 50% higher all for the privilege of being unable to move when you want.
Yep, I know about the “tax advantage” of owning. But I also know that the tax advantage use to actually make owning CHEAPER than renting. Anyone else remember that? That was one of the big incentives of owning because housing never rose more than the inflation rate.
Massive declines to come or massive inflation to come, which one it is only the FED knows.
July 2, 2009 at 5:36 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424554ParticipantI am with you.
Check this out….MLS #: 090033059
It is listed for a bargain basement price of 525k and is currently rented for…..2485 a month.
With 3.5% down and 5.5% 30 year payment for principal and interest is 2980 a month.
2980 principal and interest
565 HOA fee monthly
500 tax per month aprox
150 per month insurance and interior maintenance.TOTAL 4195 PER MONTH!!
And, this is based upon the Fed manipulating 30 year rates way below what it would be otherwise.
The question is, for what reason would anyone buy this? The only answer is the bubble mentality. The belief burnt into everyone younger than 45 that real estate goes up 10% plus per year on average. For what other reason would someone lock themselves into a situation where their monthly payments will be 50% higher all for the privilege of being unable to move when you want.
Yep, I know about the “tax advantage” of owning. But I also know that the tax advantage use to actually make owning CHEAPER than renting. Anyone else remember that? That was one of the big incentives of owning because housing never rose more than the inflation rate.
Massive declines to come or massive inflation to come, which one it is only the FED knows.
July 2, 2009 at 5:36 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424835ParticipantI am with you.
Check this out….MLS #: 090033059
It is listed for a bargain basement price of 525k and is currently rented for…..2485 a month.
With 3.5% down and 5.5% 30 year payment for principal and interest is 2980 a month.
2980 principal and interest
565 HOA fee monthly
500 tax per month aprox
150 per month insurance and interior maintenance.TOTAL 4195 PER MONTH!!
And, this is based upon the Fed manipulating 30 year rates way below what it would be otherwise.
The question is, for what reason would anyone buy this? The only answer is the bubble mentality. The belief burnt into everyone younger than 45 that real estate goes up 10% plus per year on average. For what other reason would someone lock themselves into a situation where their monthly payments will be 50% higher all for the privilege of being unable to move when you want.
Yep, I know about the “tax advantage” of owning. But I also know that the tax advantage use to actually make owning CHEAPER than renting. Anyone else remember that? That was one of the big incentives of owning because housing never rose more than the inflation rate.
Massive declines to come or massive inflation to come, which one it is only the FED knows.
July 2, 2009 at 5:36 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424904ParticipantI am with you.
Check this out….MLS #: 090033059
It is listed for a bargain basement price of 525k and is currently rented for…..2485 a month.
With 3.5% down and 5.5% 30 year payment for principal and interest is 2980 a month.
2980 principal and interest
565 HOA fee monthly
500 tax per month aprox
150 per month insurance and interior maintenance.TOTAL 4195 PER MONTH!!
And, this is based upon the Fed manipulating 30 year rates way below what it would be otherwise.
The question is, for what reason would anyone buy this? The only answer is the bubble mentality. The belief burnt into everyone younger than 45 that real estate goes up 10% plus per year on average. For what other reason would someone lock themselves into a situation where their monthly payments will be 50% higher all for the privilege of being unable to move when you want.
Yep, I know about the “tax advantage” of owning. But I also know that the tax advantage use to actually make owning CHEAPER than renting. Anyone else remember that? That was one of the big incentives of owning because housing never rose more than the inflation rate.
Massive declines to come or massive inflation to come, which one it is only the FED knows.
July 2, 2009 at 5:36 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #425068ParticipantI am with you.
Check this out….MLS #: 090033059
It is listed for a bargain basement price of 525k and is currently rented for…..2485 a month.
With 3.5% down and 5.5% 30 year payment for principal and interest is 2980 a month.
2980 principal and interest
565 HOA fee monthly
500 tax per month aprox
150 per month insurance and interior maintenance.TOTAL 4195 PER MONTH!!
And, this is based upon the Fed manipulating 30 year rates way below what it would be otherwise.
The question is, for what reason would anyone buy this? The only answer is the bubble mentality. The belief burnt into everyone younger than 45 that real estate goes up 10% plus per year on average. For what other reason would someone lock themselves into a situation where their monthly payments will be 50% higher all for the privilege of being unable to move when you want.
Yep, I know about the “tax advantage” of owning. But I also know that the tax advantage use to actually make owning CHEAPER than renting. Anyone else remember that? That was one of the big incentives of owning because housing never rose more than the inflation rate.
Massive declines to come or massive inflation to come, which one it is only the FED knows.
July 2, 2009 at 4:03 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424286ParticipantBy the way,
Were you the “winner” on that deal or were you the buyer?
Meaning, can anyone go to the same area and get the same deal or did 30 people bid on that and you “won”?
July 2, 2009 at 4:03 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424518ParticipantBy the way,
Were you the “winner” on that deal or were you the buyer?
Meaning, can anyone go to the same area and get the same deal or did 30 people bid on that and you “won”?
July 2, 2009 at 4:03 PM in reply to: San Diego Home Sales about to be revised downward BIGTIME (89% to 6.5% increase in May) #424800ParticipantBy the way,
Were you the “winner” on that deal or were you the buyer?
Meaning, can anyone go to the same area and get the same deal or did 30 people bid on that and you “won”?
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