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temeculaguy
ParticipantIt may be too pre-mature to shop a year or two out, I think the lending landscape is going to change between now and then. Best way to do it is to get a good faith estimate from any lender and take it to another or a broker and let them try to beat it, like buying anything shopping around usually is beneficial. Compare the fees, payment, terms, etc., this stuff is so fluid that it doesn’t even make sense to shop around until you are within 90 days out and even then things change in those 90 days. HLS is a longtime poster and I have e-mailed him specific questions and gotten quality answers. I will probably e-mail him and give him a chance to beat my lender when the time comes, it costs you nothing to let the market compete.
ParticipantIt may be too pre-mature to shop a year or two out, I think the lending landscape is going to change between now and then. Best way to do it is to get a good faith estimate from any lender and take it to another or a broker and let them try to beat it, like buying anything shopping around usually is beneficial. Compare the fees, payment, terms, etc., this stuff is so fluid that it doesn’t even make sense to shop around until you are within 90 days out and even then things change in those 90 days. HLS is a longtime poster and I have e-mailed him specific questions and gotten quality answers. I will probably e-mail him and give him a chance to beat my lender when the time comes, it costs you nothing to let the market compete.
Participantmgu, why does it result in higher taxes? 2002 prices lower the property taxes significantly. Are you saying that when there in asset bubble that pops, income taxes are increased, show me an example of when that has happened. Dot com bubble, my income taxes went down, 90’s R/E bubble, my taxes stayed the same. The dems will probably take the white house and repeal the recent tax cuts but that only brings them back to where they were and for the middle class it wasn’t that much of a decline, easily offset by cutting one’s property taxes in half. For those who don’t sell they can still appeal to have their property taxes lowered. ( no political party endorsement, hate em both, just an observation and I write in Ross Perot’s name every time cause it make me smile)
You need to stop listening to politicians with regards to a taxpayer funded bailout, if anything happens it will be more ceremonial than concrete. Both parties know that no nation has ever taxed itself into prosperity, they are just trying to get votes, turn the t.v. off until November 2008 and ignore the rhetoric.
Here’s the math, a midlle class family buys a 500k home and pays 4k a month, next year a similar will buy the same house for 250k and pay 2k a month. A 100k family doesn’t even pay 25k a year in income tax, check your 2006 taxes. But now they will save 25k a year on mortgage expenses, are you saying the income tax rates will double? Not a chance.
Final answer, lower home prices benefit the middle class, any bailout will be for show, war ends and taxes rise marginally at best, probably no more than your cable bill.
Participantmgu, why does it result in higher taxes? 2002 prices lower the property taxes significantly. Are you saying that when there in asset bubble that pops, income taxes are increased, show me an example of when that has happened. Dot com bubble, my income taxes went down, 90’s R/E bubble, my taxes stayed the same. The dems will probably take the white house and repeal the recent tax cuts but that only brings them back to where they were and for the middle class it wasn’t that much of a decline, easily offset by cutting one’s property taxes in half. For those who don’t sell they can still appeal to have their property taxes lowered. ( no political party endorsement, hate em both, just an observation and I write in Ross Perot’s name every time cause it make me smile)
You need to stop listening to politicians with regards to a taxpayer funded bailout, if anything happens it will be more ceremonial than concrete. Both parties know that no nation has ever taxed itself into prosperity, they are just trying to get votes, turn the t.v. off until November 2008 and ignore the rhetoric.
Here’s the math, a midlle class family buys a 500k home and pays 4k a month, next year a similar will buy the same house for 250k and pay 2k a month. A 100k family doesn’t even pay 25k a year in income tax, check your 2006 taxes. But now they will save 25k a year on mortgage expenses, are you saying the income tax rates will double? Not a chance.
Final answer, lower home prices benefit the middle class, any bailout will be for show, war ends and taxes rise marginally at best, probably no more than your cable bill.
Participantmgu, why does it result in higher taxes? 2002 prices lower the property taxes significantly. Are you saying that when there in asset bubble that pops, income taxes are increased, show me an example of when that has happened. Dot com bubble, my income taxes went down, 90’s R/E bubble, my taxes stayed the same. The dems will probably take the white house and repeal the recent tax cuts but that only brings them back to where they were and for the middle class it wasn’t that much of a decline, easily offset by cutting one’s property taxes in half. For those who don’t sell they can still appeal to have their property taxes lowered. ( no political party endorsement, hate em both, just an observation and I write in Ross Perot’s name every time cause it make me smile)
You need to stop listening to politicians with regards to a taxpayer funded bailout, if anything happens it will be more ceremonial than concrete. Both parties know that no nation has ever taxed itself into prosperity, they are just trying to get votes, turn the t.v. off until November 2008 and ignore the rhetoric.
Here’s the math, a midlle class family buys a 500k home and pays 4k a month, next year a similar will buy the same house for 250k and pay 2k a month. A 100k family doesn’t even pay 25k a year in income tax, check your 2006 taxes. But now they will save 25k a year on mortgage expenses, are you saying the income tax rates will double? Not a chance.
Final answer, lower home prices benefit the middle class, any bailout will be for show, war ends and taxes rise marginally at best, probably no more than your cable bill.
ParticipantIt is also getting dangerously close to the 2001 price, I try not to use the really big stuff to make broad comparisons, too much monopoly money at play.
ParticipantIt is also getting dangerously close to the 2001 price, I try not to use the really big stuff to make broad comparisons, too much monopoly money at play.
ParticipantIt is also getting dangerously close to the 2001 price, I try not to use the really big stuff to make broad comparisons, too much monopoly money at play.
ParticipantI am going to have to join sdrealtor in peeing on this parade, my only friend that owns a hummer actually owns it along with his house and a couple of rentals and his fixed income portfolio outside of his day job pays him well into the six figures yearly. Based on his income and assets, his 40k hummer (he bought it used) actually represents a smaller portion of his worth/income than if I drove a Pinto. You could follow him home trying to find a foreclosure and if you got past security you’d find he drives the cheapest car in his neighborhood. He and his wife don’t use credit cards, don’t even own atm cards and yet they drive the modern day stereotype of leverage, go figure.
ParticipantI am going to have to join sdrealtor in peeing on this parade, my only friend that owns a hummer actually owns it along with his house and a couple of rentals and his fixed income portfolio outside of his day job pays him well into the six figures yearly. Based on his income and assets, his 40k hummer (he bought it used) actually represents a smaller portion of his worth/income than if I drove a Pinto. You could follow him home trying to find a foreclosure and if you got past security you’d find he drives the cheapest car in his neighborhood. He and his wife don’t use credit cards, don’t even own atm cards and yet they drive the modern day stereotype of leverage, go figure.
ParticipantI am going to have to join sdrealtor in peeing on this parade, my only friend that owns a hummer actually owns it along with his house and a couple of rentals and his fixed income portfolio outside of his day job pays him well into the six figures yearly. Based on his income and assets, his 40k hummer (he bought it used) actually represents a smaller portion of his worth/income than if I drove a Pinto. You could follow him home trying to find a foreclosure and if you got past security you’d find he drives the cheapest car in his neighborhood. He and his wife don’t use credit cards, don’t even own atm cards and yet they drive the modern day stereotype of leverage, go figure.
ParticipantOh no I’m in perpetual bold. How do I fix this again? Here’s an article that breaks down that report
http://biz.yahoo.com/ap/070824/homebuilders_snap.html?.v=1
It turns out that this report doesn’t count closings just deposits. I’ll bet the August report comes out as sales being up too but the credit crunch caused massive cancellations in August that won’t be accounted for, as loan programs vanish and buyers have to back out because they couldn’t get a loan, this report still counts it as a sale.
ParticipantOh no I’m in perpetual bold. How do I fix this again? Here’s an article that breaks down that report
http://biz.yahoo.com/ap/070824/homebuilders_snap.html?.v=1
It turns out that this report doesn’t count closings just deposits. I’ll bet the August report comes out as sales being up too but the credit crunch caused massive cancellations in August that won’t be accounted for, as loan programs vanish and buyers have to back out because they couldn’t get a loan, this report still counts it as a sale.
ParticipantOh no I’m in perpetual bold. How do I fix this again? Here’s an article that breaks down that report
http://biz.yahoo.com/ap/070824/homebuilders_snap.html?.v=1
It turns out that this report doesn’t count closings just deposits. I’ll bet the August report comes out as sales being up too but the credit crunch caused massive cancellations in August that won’t be accounted for, as loan programs vanish and buyers have to back out because they couldn’t get a loan, this report still counts it as a sale.
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