[waterboy]

So if buyer gets a 5% fixed and finance $420k with the other $110k down that is approx $2,254 a month plus $473 Mello/HOA and lets say $100mo for insurance and maint. Insurance might be more in that area due to fires? That is $2,827mo and I didn’t factor property taxes because that annual amt is likely right around the tax break you get for owning.

This is a bubble development. Many bought at peak so we will see many more REO properties in 4S Ranch. Won’t look like such a deal when you have $110k down, paying $2,827mo and comps around you are selling for $450k in the next 6-12mo.

If it wasn’t such a new area then I wouldn’t worry that much, but with hundreds of your neighbors close to giving their homes back to the bank….I would worry about how low those banks will sell at

[waterboy]

So if buyer gets a 5% fixed and finance $420k with the other $110k down that is approx $2,254 a month plus $473 Mello/HOA and lets say $100mo for insurance and maint. Insurance might be more in that area due to fires? That is $2,827mo and I didn’t factor property taxes because that annual amt is likely right around the tax break you get for owning.

This is a bubble development. Many bought at peak so we will see many more REO properties in 4S Ranch. Won’t look like such a deal when you have $110k down, paying $2,827mo and comps around you are selling for $450k in the next 6-12mo.

If it wasn’t such a new area then I wouldn’t worry that much, but with hundreds of your neighbors close to giving their homes back to the bank….I would worry about how low those banks will sell at

[waterboy]

So if buyer gets a 5% fixed and finance $420k with the other $110k down that is approx $2,254 a month plus $473 Mello/HOA and lets say $100mo for insurance and maint. Insurance might be more in that area due to fires? That is $2,827mo and I didn’t factor property taxes because that annual amt is likely right around the tax break you get for owning.

This is a bubble development. Many bought at peak so we will see many more REO properties in 4S Ranch. Won’t look like such a deal when you have $110k down, paying $2,827mo and comps around you are selling for $450k in the next 6-12mo.

If it wasn’t such a new area then I wouldn’t worry that much, but with hundreds of your neighbors close to giving their homes back to the bank….I would worry about how low those banks will sell at

[waterboy]

So if buyer gets a 5% fixed and finance $420k with the other $110k down that is approx $2,254 a month plus $473 Mello/HOA and lets say $100mo for insurance and maint. Insurance might be more in that area due to fires? That is $2,827mo and I didn’t factor property taxes because that annual amt is likely right around the tax break you get for owning.

This is a bubble development. Many bought at peak so we will see many more REO properties in 4S Ranch. Won’t look like such a deal when you have $110k down, paying $2,827mo and comps around you are selling for $450k in the next 6-12mo.

If it wasn’t such a new area then I wouldn’t worry that much, but with hundreds of your neighbors close to giving their homes back to the bank….I would worry about how low those banks will sell at

[waterboy]

So if buyer gets a 5% fixed and finance $420k with the other $110k down that is approx $2,254 a month plus $473 Mello/HOA and lets say $100mo for insurance and maint. Insurance might be more in that area due to fires? That is $2,827mo and I didn’t factor property taxes because that annual amt is likely right around the tax break you get for owning.

This is a bubble development. Many bought at peak so we will see many more REO properties in 4S Ranch. Won’t look like such a deal when you have $110k down, paying $2,827mo and comps around you are selling for $450k in the next 6-12mo.

If it wasn’t such a new area then I wouldn’t worry that much, but with hundreds of your neighbors close to giving their homes back to the bank….I would worry about how low those banks will sell at

[waterboy]

So why is this a good deal? Wasn’t the 4s Ranch development built during the bubble so it could take a huge hit.

Also, high $400s a month for HOA & Mello! I haven’t seen the property which I’m sure is nice newer construction, but I don’t think the lot is very big. And if I hear one more argument that my payment is close to what rent would be I might just puke because some people just don’t understand that on $500k properties they are giving $100k to the bank, they have insurance and maintenance to pay, and in some cases have Mello and rising HOA over the years.

You should really think about waiting this one out unless it is 20% lower than closed sales in the development the last few months.

[waterboy]

So why is this a good deal? Wasn’t the 4s Ranch development built during the bubble so it could take a huge hit.

Also, high $400s a month for HOA & Mello! I haven’t seen the property which I’m sure is nice newer construction, but I don’t think the lot is very big. And if I hear one more argument that my payment is close to what rent would be I might just puke because some people just don’t understand that on $500k properties they are giving $100k to the bank, they have insurance and maintenance to pay, and in some cases have Mello and rising HOA over the years.

You should really think about waiting this one out unless it is 20% lower than closed sales in the development the last few months.

[waterboy]

So why is this a good deal? Wasn’t the 4s Ranch development built during the bubble so it could take a huge hit.

Also, high $400s a month for HOA & Mello! I haven’t seen the property which I’m sure is nice newer construction, but I don’t think the lot is very big. And if I hear one more argument that my payment is close to what rent would be I might just puke because some people just don’t understand that on $500k properties they are giving $100k to the bank, they have insurance and maintenance to pay, and in some cases have Mello and rising HOA over the years.

You should really think about waiting this one out unless it is 20% lower than closed sales in the development the last few months.

[waterboy]

So why is this a good deal? Wasn’t the 4s Ranch development built during the bubble so it could take a huge hit.

Also, high $400s a month for HOA & Mello! I haven’t seen the property which I’m sure is nice newer construction, but I don’t think the lot is very big. And if I hear one more argument that my payment is close to what rent would be I might just puke because some people just don’t understand that on $500k properties they are giving $100k to the bank, they have insurance and maintenance to pay, and in some cases have Mello and rising HOA over the years.

You should really think about waiting this one out unless it is 20% lower than closed sales in the development the last few months.

[waterboy]

So why is this a good deal? Wasn’t the 4s Ranch development built during the bubble so it could take a huge hit.

Also, high $400s a month for HOA & Mello! I haven’t seen the property which I’m sure is nice newer construction, but I don’t think the lot is very big. And if I hear one more argument that my payment is close to what rent would be I might just puke because some people just don’t understand that on $500k properties they are giving $100k to the bank, they have insurance and maintenance to pay, and in some cases have Mello and rising HOA over the years.

You should really think about waiting this one out unless it is 20% lower than closed sales in the development the last few months.

[waterboy]

Sounds like you really want to test the market so list it just under $1.1M and don’t stress if nobody wants it for that amount or higher as you really don’t have to sell. If you do get the price now you have $600k cash to find your next home.

I would still take out a 20% down 30yr loan on it if you can get 5% or less and just pay extra principal each month.

[waterboy]

Sounds like you really want to test the market so list it just under $1.1M and don’t stress if nobody wants it for that amount or higher as you really don’t have to sell. If you do get the price now you have $600k cash to find your next home.

I would still take out a 20% down 30yr loan on it if you can get 5% or less and just pay extra principal each month.

[waterboy]

Sounds like you really want to test the market so list it just under $1.1M and don’t stress if nobody wants it for that amount or higher as you really don’t have to sell. If you do get the price now you have $600k cash to find your next home.

I would still take out a 20% down 30yr loan on it if you can get 5% or less and just pay extra principal each month.

[waterboy]

Sounds like you really want to test the market so list it just under $1.1M and don’t stress if nobody wants it for that amount or higher as you really don’t have to sell. If you do get the price now you have $600k cash to find your next home.

I would still take out a 20% down 30yr loan on it if you can get 5% or less and just pay extra principal each month.

[waterboy]

Sounds like you really want to test the market so list it just under $1.1M and don’t stress if nobody wants it for that amount or higher as you really don’t have to sell. If you do get the price now you have $600k cash to find your next home.

I would still take out a 20% down 30yr loan on it if you can get 5% or less and just pay extra principal each month.

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