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Old 08-26-2008, 10:17 PM
 
Location: Plano, Texas
1,676 posts, read 6,332,679 times
Reputation: 684

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Quote:
Originally Posted by Daddys///M3 View Post
My information is based on my hugely declining market of Vegas and I mentioned that other markets would likely be different. For example, seconds are extremely difficult to get done out here if not impossible. The joys of living and doing business in a housing quagmire.

Sorry if i offended you. I live in Texas and we have been pretty isolated from the problems your area is having. good luck out there, by the way do you see your market picking up any?
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Old 08-27-2008, 03:19 AM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,096,673 times
Reputation: 952
Quote:
Originally Posted by VictorBurek View Post
Sorry if i offended you. I live in Texas and we have been pretty isolated from the problems your area is having. good luck out there, by the way do you see your market picking up any?

No offense taken, just wanted to clarify so as not to seem incompetent. Purchase business is definitely picking up. Depending on who you ask, July was either our best month since October 2004 or July 2005. I believe the latter as 2004 was smack dab in the middle of our "boom".
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Old 08-27-2008, 04:39 AM
 
Location: OH->FL->NJ
7,734 posts, read 7,251,776 times
Reputation: 3091
Victor. LOL Id kill to get xfered to Dallas.

Lessee 200K 3500 SF McMansion owned vs
1200 SF crapshack rented

Let me debate that one for oh... .0000001 seconds

That being said I still have both my jobs here so this is officially not a complaint. They laid off the guy who sat next to me.
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Old 08-27-2008, 05:45 PM
 
Location: Plano, Texas
1,676 posts, read 6,332,679 times
Reputation: 684
Quote:
Originally Posted by ottomobeale View Post
Victor. LOL Id kill to get xfered to Dallas.

Lessee 200K 3500 SF McMansion owned vs
1200 SF crapshack rented

Let me debate that one for oh... .0000001 seconds

That being said I still have both my jobs here so this is officially not a complaint. They laid off the guy who sat next to me.

thanks for the laugh. You can get a lot of home in Texas for a great price. Just so others know, a couple things that has allowed Texas property values to hold up is first of all, we didnt see 20 to 30% appreciation per year like Cali, or Florida or Nevado. I always tell clients Texas is like that little train, we just keep chugging along averaging about 5 to 6% appreciation per year. The other factor that has helped us is jobs. If you live where jobs are declining, values will drop but Texas has created more jobs then any other state. And if people are working, they will buy homes. And this is why foreclosures are so high in Michigan, Indiana, and Illionois. Those states are losing jobs left and right.
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Old 08-27-2008, 05:47 PM
 
Location: Plano, Texas
1,676 posts, read 6,332,679 times
Reputation: 684
Quote:
Originally Posted by Daddys///M3 View Post
No offense taken, just wanted to clarify so as not to seem incompetent. Purchase business is definitely picking up. Depending on who you ask, July was either our best month since October 2004 or July 2005. I believe the latter as 2004 was smack dab in the middle of our "boom".

Glad to hear that, and i have heard that same thing through other channels. Stay positive, we will get through this.
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Old 09-01-2008, 08:46 AM
 
Location: Tampa,FL
54 posts, read 238,572 times
Reputation: 18
Here in FL conventional will go with 5% down as long as you dont want a condo. USDA and FHA/VA are obviously around here as well, with many shifting to the FHA deal since it seems to be easier to get approved with the 3% down. Most people dont WANT to put anything out of their pocket to buy a home, not that they cant save and do it the old fashioned way. That is the major factor i think is driving all of these FHA loans.
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Old 09-02-2008, 04:06 AM
 
Location: Los Angeles Area
3,306 posts, read 3,323,365 times
Reputation: 592
Quote:
but I guess the media needs to realize there are 48 other states out there and some are not doing so bad.
The issues in the credit markets are national, so available credit is going to be limited in all states. Although, some markets are riskier than others so the credit standards are tightening more there. Foreign buyers are less and less interested in buying junk mortgage debt, so things are likely to get worse.
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