Bubble article at Inman.com

NEW -> Contingent Buyer Assistance Program
IIIrvine, I am talking about a new home purchase. Most builders are willing to adjust the price before close of escrow now, some in writing although most still arent. It takes them apprx 6 months to build the new home thus the longer escrow.





For us personally unless there are obvious sign that price is about to plummer 40% or more, we are going forward with the purchase. We will enjoy the new home, move on with our life and hope for the best. In general we are very conservative with money, and yes we do have enough savings for 20% downpayment + more for rainy days, and probably even enough to buy one or two investment properties in case price drops significantly enough after our home purchase. So maybe that's part of the reason we downplay the financial risk when purchasing a place to live and would rather time it with our personal needs. I dont recommend anyone buying now without doing their homework. But for some, it may make sense especially if renting and timing for a bottom means scarificing your personal life.
 
<p>IIIrvine - I don't mind you asking what I do for a living. I am in the financial services industry and I do investments/retirement, insurance, estate planning, etc. I have only been in the industry for about a year now but I am doing pretty well considering it is a tough business that has many choices. </p>

<p>Now where I get my knowledge of the mortgage business is that I was a loan officer for a major homebuilder for five years and small broker shop before that. For the most part I took pride in what I did and knew that knowledge was an important key to being professional. I took the time to learn how MBS worked, economic news and other various technical factors to help me have an advantage over other people in the industry since I had better knowledge of where rates were going. Learning how to read the technical signals of MBS and knowing what economic news that was coming made me the interest rate guru of the office. I would say that and not to brag but 4 out of 5 times I was correct in which way rates were going. All this has probably helped me greatly in the business I am in now. I left the business for several reasons in which we could have a whole seperate topic on but I would much rather help people make money and wise financial decisions. </p>

<p>This week should be choppy for rates as I stated in the post with article from NAR that a lot of high impact economic data is coming out this week. So I guess I have to disclose now since you know what industry I am in that these are my opinions and should not be considered as investment advice. If you are crazy enough to invest in MBS you are on your own. </p>
 
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