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San Jose, CA
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Registered Oct 24, 2011

SparrowBell's most recent comments:

• On 14 Jun 2013 in In housebuying, cash is king again, SparrowBell said:

  Well, given the houses are seriously overpriced and rising much faster than appraisal could catch up ... Those with financial contigency run higher risk than the cash buyers ... Cash buyers don't get the nasty shock like buyers with mortgage, are you willing to buy a house with 200K difference between price and apprisal even if you can afford the house ...

  thomaswong.1986 says
  

  From the standpoint of the buyers, all deals are settled by "cash".
  whats
  the point of all this but to say "no contingency" which is undue
  influence.
  This is just another way to dump down the buyers ...

• On 20 May 2013 in Best real estate within drive from bay area?, SparrowBell said:

  Buy one where the *potential* high speed rail may connect close to it. Sacrememto? Folsom?

• On 6 May 2013 in bmwman91's Buying Adventure Log, SparrowBell said:

  Only as a proof of reserve, not withdrawal, which is not necessary now.

  But, I am also very surprised by the need of half a million for a 1 million dollar loan. I haven't heard about this from friends who bought recently. It seems most ony require 12-month of cash reserves. Maybe, it has more to do with your wife is self-employed.

  myob says
  

  SparrowBell says

  Can you not use your 401k? Wellsfargo seems to offer very good rate lately ...

  IMO, it's really dumb to raid your 401k for any reason. This is money you need for retirement when your income is low or zero. Those of us retiring in 20-30 years likely won't get a dime from social security.