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sunny88
Participant[quote=lifeisgood]I look at articles on this site just about everyday. My wife and I will be closing on our new home in late February. We are super stoked being that it is our first house and all. We bought the plan three in Chanteclair which we will be trying to fill up with kids eventually. My wife wanted me to ask some of you experts in real estate about the possibility of our new house loosing a great deal of value or will it just stay stagnant for a while? From what I read on this site, it seems like some areas have lost so much value that they are close if not at the bottom. Do you all think that 4S is close to bottom or is there a lot of room to fall. We don’t mind too much as we will be staying in this house for at least 15+ years. We also understand that this is a risk. We just couldn’t pass up the deal we got on the house plus the interest rate that we locked. Thanks for your opinions in advance! [/quote]
Congratulations on your new home! I believe that as long as you don’t see your home as an investment for the short-term (i.e. time frame <10 years) you should be fine. The values will likely drop further, but it's almost impossible to buy at the bottom. You bought your house as a home for you and your family. I have been to 4S ranch many times and think that it is a nice area to raise a family. Once the housing market recovers (and it will!) the value of your home will go up. Nobody knows when the housing market will bottom but it looks like it will take another year or 2 before this happens here in SD.
Participant[quote=lifeisgood]I look at articles on this site just about everyday. My wife and I will be closing on our new home in late February. We are super stoked being that it is our first house and all. We bought the plan three in Chanteclair which we will be trying to fill up with kids eventually. My wife wanted me to ask some of you experts in real estate about the possibility of our new house loosing a great deal of value or will it just stay stagnant for a while? From what I read on this site, it seems like some areas have lost so much value that they are close if not at the bottom. Do you all think that 4S is close to bottom or is there a lot of room to fall. We don’t mind too much as we will be staying in this house for at least 15+ years. We also understand that this is a risk. We just couldn’t pass up the deal we got on the house plus the interest rate that we locked. Thanks for your opinions in advance! [/quote]
Congratulations on your new home! I believe that as long as you don’t see your home as an investment for the short-term (i.e. time frame <10 years) you should be fine. The values will likely drop further, but it's almost impossible to buy at the bottom. You bought your house as a home for you and your family. I have been to 4S ranch many times and think that it is a nice area to raise a family. Once the housing market recovers (and it will!) the value of your home will go up. Nobody knows when the housing market will bottom but it looks like it will take another year or 2 before this happens here in SD.
Participant[quote=fredo4]Sage words from Allen, as usual. I really do hope that Obama can improve the economy. Unfortunately, that’s practically an impossible task. As it dawns on people that Obama is not the Savior that they thought he was, he will be turned on viciously. I really feel sorry for the poor guy, because I’m sure his intentions are very good.[/quote]
Nobody can fix the economy quickly-that’s just the sad truth. The recovery will take many years if not decades. However, Obama should be able to start the recovery while he is in office.
Participant[quote=fredo4]Sage words from Allen, as usual. I really do hope that Obama can improve the economy. Unfortunately, that’s practically an impossible task. As it dawns on people that Obama is not the Savior that they thought he was, he will be turned on viciously. I really feel sorry for the poor guy, because I’m sure his intentions are very good.[/quote]
Nobody can fix the economy quickly-that’s just the sad truth. The recovery will take many years if not decades. However, Obama should be able to start the recovery while he is in office.
Participant[quote=fredo4]Sage words from Allen, as usual. I really do hope that Obama can improve the economy. Unfortunately, that’s practically an impossible task. As it dawns on people that Obama is not the Savior that they thought he was, he will be turned on viciously. I really feel sorry for the poor guy, because I’m sure his intentions are very good.[/quote]
Nobody can fix the economy quickly-that’s just the sad truth. The recovery will take many years if not decades. However, Obama should be able to start the recovery while he is in office.
Participant[quote=fredo4]Sage words from Allen, as usual. I really do hope that Obama can improve the economy. Unfortunately, that’s practically an impossible task. As it dawns on people that Obama is not the Savior that they thought he was, he will be turned on viciously. I really feel sorry for the poor guy, because I’m sure his intentions are very good.[/quote]
Nobody can fix the economy quickly-that’s just the sad truth. The recovery will take many years if not decades. However, Obama should be able to start the recovery while he is in office.
Participant[quote=fredo4]Sage words from Allen, as usual. I really do hope that Obama can improve the economy. Unfortunately, that’s practically an impossible task. As it dawns on people that Obama is not the Savior that they thought he was, he will be turned on viciously. I really feel sorry for the poor guy, because I’m sure his intentions are very good.[/quote]
Nobody can fix the economy quickly-that’s just the sad truth. The recovery will take many years if not decades. However, Obama should be able to start the recovery while he is in office.
Participant[quote=jficquette]I would guess the biggest barrier to refinance is income. I bet 90% of the people who bought at the top with no doc loans lied about their income at the time and can’t qualify now.[/quote]
I would think that the biggest obstacle is the drop of home value with negative equity.
Participant[quote=jficquette]I would guess the biggest barrier to refinance is income. I bet 90% of the people who bought at the top with no doc loans lied about their income at the time and can’t qualify now.[/quote]
I would think that the biggest obstacle is the drop of home value with negative equity.
Participant[quote=jficquette]I would guess the biggest barrier to refinance is income. I bet 90% of the people who bought at the top with no doc loans lied about their income at the time and can’t qualify now.[/quote]
I would think that the biggest obstacle is the drop of home value with negative equity.
Participant[quote=jficquette]I would guess the biggest barrier to refinance is income. I bet 90% of the people who bought at the top with no doc loans lied about their income at the time and can’t qualify now.[/quote]
I would think that the biggest obstacle is the drop of home value with negative equity.
Participant[quote=jficquette]I would guess the biggest barrier to refinance is income. I bet 90% of the people who bought at the top with no doc loans lied about their income at the time and can’t qualify now.[/quote]
I would think that the biggest obstacle is the drop of home value with negative equity.
January 18, 2009 at 12:53 AM in reply to: Are banks holding back on foreclosed properties in San Diego? #331157Participant[quote=SD Realtor]Don’t know but with the pathetic inventory this winter it would have been a totally bonehead move by banks to do that for San Diego County.
One of the agents who has the right idea is Greg Scott. He lists REO properties at a steep discount compared to comps. [/quote]
Does he have a website with the properties?
January 18, 2009 at 12:53 AM in reply to: Are banks holding back on foreclosed properties in San Diego? #331183Participant[quote=SD Realtor]Don’t know but with the pathetic inventory this winter it would have been a totally bonehead move by banks to do that for San Diego County.
One of the agents who has the right idea is Greg Scott. He lists REO properties at a steep discount compared to comps. [/quote]
Does he have a website with the properties?
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