Forum Replies Created
-
AuthorPosts
-
UCGal
ParticipantThere’s an interesting discussion of the collapse in housing, and how the data (like Case Schiller) takes a while to get out. It’s obviously a national look, but it fits some of what you (SDR) are seeing.
It fits the “boat turns slowly” idea.
http://www.calculatedriskblog.com/2010/07/survey-shows-house-prices-falling-in.html
I’m just really glad I’m not actively in the market and have no plans to sell or buy in the near future. If prices drop more, I may pick up that income property I’ve talked about…
ParticipantThere’s an interesting discussion of the collapse in housing, and how the data (like Case Schiller) takes a while to get out. It’s obviously a national look, but it fits some of what you (SDR) are seeing.
It fits the “boat turns slowly” idea.
http://www.calculatedriskblog.com/2010/07/survey-shows-house-prices-falling-in.html
I’m just really glad I’m not actively in the market and have no plans to sell or buy in the near future. If prices drop more, I may pick up that income property I’ve talked about…
ParticipantNot sure. I know he paid a point. I double checked – it’s through SDCCU. If I talk to him later, I’ll ask.
Another coworker with less wonderful credit is buying – he’s in the conforming jumbo, doing a 30 year. I think he said he’s getting 4.25 with a point. I guess this is another area where size of the loan, duration of the loan, and credit scores all factor big time. He’s going through a broker… so I have no idea what bank/institution.
ParticipantNot sure. I know he paid a point. I double checked – it’s through SDCCU. If I talk to him later, I’ll ask.
Another coworker with less wonderful credit is buying – he’s in the conforming jumbo, doing a 30 year. I think he said he’s getting 4.25 with a point. I guess this is another area where size of the loan, duration of the loan, and credit scores all factor big time. He’s going through a broker… so I have no idea what bank/institution.
ParticipantNot sure. I know he paid a point. I double checked – it’s through SDCCU. If I talk to him later, I’ll ask.
Another coworker with less wonderful credit is buying – he’s in the conforming jumbo, doing a 30 year. I think he said he’s getting 4.25 with a point. I guess this is another area where size of the loan, duration of the loan, and credit scores all factor big time. He’s going through a broker… so I have no idea what bank/institution.
ParticipantNot sure. I know he paid a point. I double checked – it’s through SDCCU. If I talk to him later, I’ll ask.
Another coworker with less wonderful credit is buying – he’s in the conforming jumbo, doing a 30 year. I think he said he’s getting 4.25 with a point. I guess this is another area where size of the loan, duration of the loan, and credit scores all factor big time. He’s going through a broker… so I have no idea what bank/institution.
ParticipantNot sure. I know he paid a point. I double checked – it’s through SDCCU. If I talk to him later, I’ll ask.
Another coworker with less wonderful credit is buying – he’s in the conforming jumbo, doing a 30 year. I think he said he’s getting 4.25 with a point. I guess this is another area where size of the loan, duration of the loan, and credit scores all factor big time. He’s going through a broker… so I have no idea what bank/institution.
ParticipantI am about as good at predicting the housing market as I am at predicting the financial markets… In other words – I keep trying to apply reason and sanity to a system that is manipulated in a way that I can never predict. I didn’t predict the government intervention in housing to the extent it’s happening. They’ve come up with so many creative, unpredictable ways to prop it up and reinflate – from overt stuff like the 8k incentives, to more subtle ways like free, unlimited credit to the banks which allows them to carry non-performing mortgages indefinitely.
ParticipantI am about as good at predicting the housing market as I am at predicting the financial markets… In other words – I keep trying to apply reason and sanity to a system that is manipulated in a way that I can never predict. I didn’t predict the government intervention in housing to the extent it’s happening. They’ve come up with so many creative, unpredictable ways to prop it up and reinflate – from overt stuff like the 8k incentives, to more subtle ways like free, unlimited credit to the banks which allows them to carry non-performing mortgages indefinitely.
ParticipantI am about as good at predicting the housing market as I am at predicting the financial markets… In other words – I keep trying to apply reason and sanity to a system that is manipulated in a way that I can never predict. I didn’t predict the government intervention in housing to the extent it’s happening. They’ve come up with so many creative, unpredictable ways to prop it up and reinflate – from overt stuff like the 8k incentives, to more subtle ways like free, unlimited credit to the banks which allows them to carry non-performing mortgages indefinitely.
ParticipantI am about as good at predicting the housing market as I am at predicting the financial markets… In other words – I keep trying to apply reason and sanity to a system that is manipulated in a way that I can never predict. I didn’t predict the government intervention in housing to the extent it’s happening. They’ve come up with so many creative, unpredictable ways to prop it up and reinflate – from overt stuff like the 8k incentives, to more subtle ways like free, unlimited credit to the banks which allows them to carry non-performing mortgages indefinitely.
ParticipantI am about as good at predicting the housing market as I am at predicting the financial markets… In other words – I keep trying to apply reason and sanity to a system that is manipulated in a way that I can never predict. I didn’t predict the government intervention in housing to the extent it’s happening. They’ve come up with so many creative, unpredictable ways to prop it up and reinflate – from overt stuff like the 8k incentives, to more subtle ways like free, unlimited credit to the banks which allows them to carry non-performing mortgages indefinitely.
ParticipantFor the local guy (coworker) with the 3.75
Not a jumbo. I think he said it was through Wells Fargo – it could have been SDCCU.
He’s got great credit, good income (he’s a couple pay grades above me) and a big down payment – enough that it was conventional (not even conforming jumbo).
My other friend is in Missouri – it’s definitely not a jumbo since they owe well under $100k on their 5 acres. They’re in farm country and prices are a lot less. I have no idea who they financed with. She’s been grappling with whether to refi for 2 years, and whether to pull cash out to do some badly needed updating, or to sell and get a bigger house. The rates were low enough they pulled 20k out, kept the same payoff date (refi’ing their 15 year loan to a 10 year… since they’re 5 years in). So they’ll have the money to do repairs/updating and keep their payments the same.
ParticipantFor the local guy (coworker) with the 3.75
Not a jumbo. I think he said it was through Wells Fargo – it could have been SDCCU.
He’s got great credit, good income (he’s a couple pay grades above me) and a big down payment – enough that it was conventional (not even conforming jumbo).
My other friend is in Missouri – it’s definitely not a jumbo since they owe well under $100k on their 5 acres. They’re in farm country and prices are a lot less. I have no idea who they financed with. She’s been grappling with whether to refi for 2 years, and whether to pull cash out to do some badly needed updating, or to sell and get a bigger house. The rates were low enough they pulled 20k out, kept the same payoff date (refi’ing their 15 year loan to a 10 year… since they’re 5 years in). So they’ll have the money to do repairs/updating and keep their payments the same.
-
AuthorPosts
