Re: Re: fixerupper for sale in

[http://dummy.us.eu.org/robert (robert)]

 > From: noelle <http://dummy.us.eu.org/noelle>
 > Date: Thu, 31 Jul 2003 17:53:33 -0700
 >
 > I saw someone painting the garage(detached) white there, hmm.
 > from the Forum show on real estate:
 > *interest rates will rise as the govt deficit rises
 > *renters are subsidizing homeowners(ie mortgage tax breaks)

Wow, that's interesting.  Did they say what percentage of homeowners are
still paying interest vs. principal?  Or, better yet, what equity U.S.
homeowners now have vs. total outstanding loans?

 > *stay in a house you buy at least 5 yrs

Only if you buy with a loan.  If not, it can be less.

 > *SF economy not producing jobs;housing costs not matching income

Yep.  And once it reaches the breaking point, it may just snap.  Because
houses are still being sold relatively quickly, it's obviously not yet
reached that point.

Also, it'll take longer for the lower-priced houses to decrease in value
at all.  Especially low-priced houses probably won't go down at all.

 > *default rate for 1st time home buyers is up(don't subsidize the poor guy, I 
 > guess you gave up on him)

Yeah, I just didn't want to deal with the delay that would be involved.
At least, this way, the delay will be slightly less, depending on the
mortgage company.

 > rising interest rates---the pain point is 7.5%, then prices decline(more 
 > important to think of than the home price)

Absolutely.  That's why it's better to wait.  Once it becomes obvious that
houses are not selling (i.e., they're on the market for 6 months or more),
then you know it's a good buying market.

 > any word from rich buyer?

He's coming over today after 4pm.

I hope the sunset date (or fall-off date or whatever it's called) is far
enough after the weekend so that I have time to talk with my lawyer.