[XBoxBoy]

Jimmyle – First and foremost I would say that this situation is in such turmoil right now that I don’t think anyone can give you an answer that is much more than a guess. There are strong arguments to be made for higher rates in the next year or two, and there are strong arguments for why rates will be lower. While many experts might try to convince you to think they know what’s going to happen, trust me, no one knows what’s going to happen.

Having said that, I’ll give you my best guesses. Yes, loans will be harder to get. Have no idea if rates will be higher or lower. Prices will continue to decline regardless. If your uncle is buying in the < $500k price range, we might be getting close to a bottom in that arena. In the $500-1mil range, I think we've still got a ways to go, but if the pace of declines picks up this fall, (as I suspect it will) maybe this fall or even next year might be okay to buy into. (But will have to wait to see) If your uncle is thinking of more than a mil for a place and he's got cash, tell him to get comfortable and relax, cause he's still got a bit of a wait. 'Course this advice is worth exactly what you paid for it. XBoxBoy

[XBoxBoy]

Jimmyle – First and foremost I would say that this situation is in such turmoil right now that I don’t think anyone can give you an answer that is much more than a guess. There are strong arguments to be made for higher rates in the next year or two, and there are strong arguments for why rates will be lower. While many experts might try to convince you to think they know what’s going to happen, trust me, no one knows what’s going to happen.

Having said that, I’ll give you my best guesses. Yes, loans will be harder to get. Have no idea if rates will be higher or lower. Prices will continue to decline regardless. If your uncle is buying in the < $500k price range, we might be getting close to a bottom in that arena. In the $500-1mil range, I think we've still got a ways to go, but if the pace of declines picks up this fall, (as I suspect it will) maybe this fall or even next year might be okay to buy into. (But will have to wait to see) If your uncle is thinking of more than a mil for a place and he's got cash, tell him to get comfortable and relax, cause he's still got a bit of a wait. 'Course this advice is worth exactly what you paid for it. XBoxBoy

[XBoxBoy]

Jimmyle – First and foremost I would say that this situation is in such turmoil right now that I don’t think anyone can give you an answer that is much more than a guess. There are strong arguments to be made for higher rates in the next year or two, and there are strong arguments for why rates will be lower. While many experts might try to convince you to think they know what’s going to happen, trust me, no one knows what’s going to happen.

Having said that, I’ll give you my best guesses. Yes, loans will be harder to get. Have no idea if rates will be higher or lower. Prices will continue to decline regardless. If your uncle is buying in the < $500k price range, we might be getting close to a bottom in that arena. In the $500-1mil range, I think we've still got a ways to go, but if the pace of declines picks up this fall, (as I suspect it will) maybe this fall or even next year might be okay to buy into. (But will have to wait to see) If your uncle is thinking of more than a mil for a place and he's got cash, tell him to get comfortable and relax, cause he's still got a bit of a wait. 'Course this advice is worth exactly what you paid for it. XBoxBoy

[XBoxBoy]

[quote=paranoid]I’d like to ask Where would you put your cash well above $100k? [/quote]

While I’m sure many of the “investors” on this board will object, if you want liquidity, and security of principle I suggest Treasury Direct. The money is fully guaranteed by the US Government, and treasuries can always be sold at a minimal cost. Yeah, the interest rate is chump change these days, and over the long term, inflation will erode your savings. But if you want a place to put money for short term and still have security and liquidity, I think this is about the best.

XBoxBoy

[XBoxBoy]

[quote=paranoid]I’d like to ask Where would you put your cash well above $100k? [/quote]

While I’m sure many of the “investors” on this board will object, if you want liquidity, and security of principle I suggest Treasury Direct. The money is fully guaranteed by the US Government, and treasuries can always be sold at a minimal cost. Yeah, the interest rate is chump change these days, and over the long term, inflation will erode your savings. But if you want a place to put money for short term and still have security and liquidity, I think this is about the best.

XBoxBoy

[XBoxBoy]

[quote=paranoid]I’d like to ask Where would you put your cash well above $100k? [/quote]

While I’m sure many of the “investors” on this board will object, if you want liquidity, and security of principle I suggest Treasury Direct. The money is fully guaranteed by the US Government, and treasuries can always be sold at a minimal cost. Yeah, the interest rate is chump change these days, and over the long term, inflation will erode your savings. But if you want a place to put money for short term and still have security and liquidity, I think this is about the best.

XBoxBoy

[XBoxBoy]

[quote=paranoid]I’d like to ask Where would you put your cash well above $100k? [/quote]

While I’m sure many of the “investors” on this board will object, if you want liquidity, and security of principle I suggest Treasury Direct. The money is fully guaranteed by the US Government, and treasuries can always be sold at a minimal cost. Yeah, the interest rate is chump change these days, and over the long term, inflation will erode your savings. But if you want a place to put money for short term and still have security and liquidity, I think this is about the best.

XBoxBoy

[XBoxBoy]

[quote=paranoid]I’d like to ask Where would you put your cash well above $100k? [/quote]

While I’m sure many of the “investors” on this board will object, if you want liquidity, and security of principle I suggest Treasury Direct. The money is fully guaranteed by the US Government, and treasuries can always be sold at a minimal cost. Yeah, the interest rate is chump change these days, and over the long term, inflation will erode your savings. But if you want a place to put money for short term and still have security and liquidity, I think this is about the best.

XBoxBoy

[XBoxBoy]

Fannie and Freddie are collapsing, and IPhones are working… It’s the Ipodcolypse

[XBoxBoy]

Fannie and Freddie are collapsing, and IPhones are working… It’s the Ipodcolypse

[XBoxBoy]

Fannie and Freddie are collapsing, and IPhones are working… It’s the Ipodcolypse

[XBoxBoy]

Fannie and Freddie are collapsing, and IPhones are working… It’s the Ipodcolypse

[XBoxBoy]

Fannie and Freddie are collapsing, and IPhones are working… It’s the Ipodcolypse

[XBoxBoy]

In an effort to combat offtopic discussion, and bring Piggington back to real estate, I thought it might be time to revisit some of the recent pain in La Jolla.

Here’s one in the Venezia complex. Actually, I can’t believe they sold it at this price! Only $139k loss. Those places are ticking time bombs. Almost as bad as Unsellable Draper Villas
http://www.sdlookup.com/Property-2F3A56BF-7555_Eads_Ave_7_La_Jolla_CA_92037

XBoxBoy

[XBoxBoy]

In an effort to combat offtopic discussion, and bring Piggington back to real estate, I thought it might be time to revisit some of the recent pain in La Jolla.

Here’s one in the Venezia complex. Actually, I can’t believe they sold it at this price! Only $139k loss. Those places are ticking time bombs. Almost as bad as Unsellable Draper Villas
http://www.sdlookup.com/Property-2F3A56BF-7555_Eads_Ave_7_La_Jolla_CA_92037

XBoxBoy

[Author]

Posts