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Old 09-16-2022, 10:49 AM
 
88 posts, read 52,178 times
Reputation: 88

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Quote:
Originally Posted by yesmaybe View Post
You can still get an ARM in the 4's, maybe even 3's with no points. Figure by the time the ARM changes the rate, mortgage rates will go back to the lows.
This is a risk I'm definitely not willing to take Whenever I mention the word ARM,,, people jump on me with "No no no,,, stay away,,, why would you want to do ARM!!!"
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Old 09-16-2022, 04:00 PM
 
2,066 posts, read 1,070,576 times
Reputation: 1681
Quote:
Originally Posted by Moh1988 View Post
This is a risk I'm definitely not willing to take Whenever I mention the word ARM,,, people jump on me with "No no no,,, stay away,,, why would you want to do ARM!!!"
We think 6% is ridiculous but the government money printer keeps going brrrrrr with no signs of slowing don't be surprised if we see 16% a few years down the road.

Last edited by CaseyB; 09-18-2022 at 12:02 PM..
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Old 09-16-2022, 05:25 PM
 
2,348 posts, read 1,777,099 times
Reputation: 700
Quote:
Originally Posted by WestieWhitie View Post
We think 6% is ridiculous but the government money printer keeps going brrrrrr with no signs of slowing don't be surprised if we see 16% a few years down the road.
The money printer being turned back on would do the opposite. But who knows what would happen with valuations.

Last edited by CaseyB; 09-18-2022 at 12:02 PM..
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Old 09-16-2022, 08:41 PM
 
2,710 posts, read 1,729,269 times
Reputation: 1319
Quote:
Originally Posted by yesmaybe View Post
You can still get an ARM in the 4's, maybe even 3's with no points. Figure by the time the ARM changes the rate, mortgage rates will go back to the lows.
I wouldn't be surprised if rates were higher at the end of the ARM.
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Old 09-17-2022, 05:46 AM
 
2,348 posts, read 1,777,099 times
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Quote:
Originally Posted by matrix5k View Post
I wouldn't be surprised if rates were higher at the end of the ARM.
The idea is that once they "curb inflation" (read: enough White Collar layoffs to scare them into RTO among other things) that the Fed will cut the Fed Rate back to zero to resume propping up the stock market. It would then spill into mortgage rates.

This might take awhile but 5 years should be more than plenty.
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Old 09-17-2022, 06:20 AM
 
2,348 posts, read 1,777,099 times
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https://www.redfin.com/MA/Chelmsford.../home/11570159

How about this place in Chelmsford. Looks a bit... homely. Only mentioning it because after 4 DOM they decided to slash the price by 50k. But they are still asking for 730k.
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Old 09-17-2022, 07:56 AM
 
2,066 posts, read 1,070,576 times
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Quote:
Originally Posted by yesmaybe View Post
https://www.redfin.com/MA/Chelmsford.../home/11570159

How about this place in Chelmsford. Looks a bit... homely. Only mentioning it because after 4 DOM they decided to slash the price by 50k. But they are still asking for 730k.

Throw in utilities and maintenance and that house easily eats up an entire $100K paycheck.
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Old 09-17-2022, 11:06 AM
 
3,586 posts, read 1,816,957 times
Reputation: 1483
They won the bidding war and paid $200K+ over list price a year ago and now it is listed for sale already. It will be interesting to see if the sellers get their money back or end up taking a loss on it. Impulse buying, never usually a good thing! https://www.zillow.com/homedetails/1...56640101_zpid/
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Old 09-17-2022, 11:31 AM
 
3,586 posts, read 1,816,957 times
Reputation: 1483
Quote:
Originally Posted by yesmaybe View Post
https://www.redfin.com/MA/Chelmsford.../home/11570159

How about this place in Chelmsford. Looks a bit... homely. Only mentioning it because after 4 DOM they decided to slash the price by 50k. But they are still asking for 730k.
Yuck! I'm not a fan of splits to begin with but that garage addition sure makes it an aesthetically unpleasing house from the exterior! I'm sure with paint, kitchen and bath renos one could make the inside much nicer.
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Old 09-17-2022, 12:49 PM
 
Location: Needham, MA
8,547 posts, read 14,012,666 times
Reputation: 7929
Quote:
Originally Posted by newenglandgal123 View Post
They won the bidding war and paid $200K+ over list price a year ago and now it is listed for sale already. It will be interesting to see if the sellers get their money back or end up taking a loss on it. Impulse buying, never usually a good thing! https://www.zillow.com/homedetails/1...56640101_zpid/
Admittedly, I don't keep a close eye on Hingham. However, $1.8M seems like a lot of money to spend on a 3,000 sq ft THREE bedroom house in that town. It's really nice and the yard is great but . . . really? The listing agent used a horrible first photo too because I took one look at it and thought "this price must be a mistake!" Definitely could have gotten a better photo of the front than that.
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