[WestieJeff]

What are you talking about?

Did you not just see the chart that showed the vast majority of loan resets have already occurred?

Nevermind prices are up close to 30% from last year?

Basically you're completely wrong.

Originally Posted by VegasVicsezhowdy

The homeowners mired in negative equity and unable to refi into a fixed loan create an unavoidable scenario when interest rates start to go up over the next couple of years.

3 words: "big payment increases"

...then here we go again, it's 2007 all over again.

It's an iceberg and we're headed right for it, and no one's turning the wheel.

[lvoc]

Yup - Good old how to lie with statistics.

The resets may well double in 2013. Form miniscule to irrelevant. But it sounds bad.

[VegasVicsezhowdy]

Those who paid all cash will be hard pressed to find a buyer in the next 5 years, while those who have assumable loans with fixed rates will be in a much preferable position.

[lvoc]

Back to reality...

Prices are up. Been almost a linear increase for the last year. Going up at over 25% per year. We are now under 50% for distressed properties. Sales are up month over month and inventory continues to drop.

At this point it would appear virtually certain that prices are going to continue upward at a fast pace at least through spring.

Absolutely Amazing.

[von949]

Starting to get those cash-out refinance letters in the mail. Didn't think I would see one of those for at least 10+ years.


Posted from Nokia 8210

[logline]

Originally Posted by lvoc

Back to reality...

Prices are up. Been almost a linear increase for the last year. Going up at over 25% per year. We are now under 50% for distressed properties. Sales are up month over month and inventory continues to drop.

At this point it would appear virtually certain that prices are going to continue upward at a fast pace at least through spring.

Absolutely Amazing.

The bottom seems to have occured right when all those resets fell off the cliff in that chart... coincidence? I think not. I'm in no way saying we're going to keep growing at the same pace as this last year, but the bottom seems to be holding.

[VegasVicsezhowdy]

Originally Posted by von949

Starting to get those cash-out refinance letters in the mail. Didn't think I would see one of those for at least 10+ years.

Exactly! Bubble action (again). But this time it's different?

FHA + economy = Titanic

[von949]

It's either wait for the bottom to hit while prices drop or hurry up before prices continue to rise.

By the way, anyone know what area this is? Looking towards the strip?







Posted from Nokia 8210

[tbill618]

Originally Posted by lvoc

Back to reality...

Prices are up. Been almost a linear increase for the last year. Going up at over 25% per year. We are now under 50% for distressed properties. Sales are up month over month and inventory continues to drop.

At this point it would appear virtually certain that prices are going to continue upward at a fast pace at least through spring.

Absolutely Amazing.

I think your right but we are going to get the AB 284 fix sometime soon. I wonder if that will bring a pause to this? I certainly don't think interest rates are going too much higher with the economy growing at 0.1%.

[bayview6]

Originally Posted by VegasVicsezhowdy

Those who paid all cash will be hard pressed to find a buyer in the next 5 years, while those who have assumable loans with fixed rates will be in a much preferable position.

Baloney. Mortgage rates are not going back to 7% any time soon.