patrick.net

SFace says

Itemized deduction phase-out went bye bye in 2010-2012 so the phase out does not exist currently. 2013 and beyond is yet to be determined.

Thanks SFace, I didn't realize it changed in the tax system. I owned a home in 2003-2006 and ran the numbers on my taxes didn't see much benefit. Good to know that if and when I decide to reenter the market I have that benefit now. If it will still exist at that time. ;)

Thanks for the details, that really helps. My issue in 2003-2006 was I had large AGI and a very low rate (4.5%) on a small (250K) balance, so the mortgage deduction was pretty minor to me.

rootvg says

wthrfrk80 says

thomas.wong1986 says

They will continue with this nonsense crap and it wont end..

Next time a realtor say,,, home prices are going up.. tell them "so will my foot... right up your ass."

Love it!

I don't think they're going up but where we bought they're definitely holding. The house down the street is pending after one week on the market. It's a REO that smells like mold, needs completely gutted to the rafters and the bank wanted in the high sevens for it. I wouldn't want it under any circumstances. It should be torn down.

rootvg says

wthrfrk80 says

thomas.wong1986 says

They will continue with this nonsense crap and it wont end..

Next time a realtor say,,, home prices are going up.. tell them "so will my foot... right up your ass."

Love it!

I don't think they're going up but where we bought they're definitely holding. The house down the street is pending after one week on the market. It's a REO that smells like mold, needs completely gutted to the rafters and the bank wanted in the high sevens for it. I wouldn't want it under any circumstances. It should be torn down.

Where are you living? Prices in the Danville/Alamo area that I live in are 33% off of the 2006 price. I am referring to regular and not short sales or REOs. A couple of moldy dumps have been sitting on the market with no takers. Aggresively priced places especially westside Danville and Alamo are going fast, but they are priced way below 2006. But if you mean that they bottomed already it may be the case, I just wonder if the increased short sales and REOs coming on the market in our area will have an effect and nudge things down another notch to reach our true local bottom.

pedrobenson says

Aggresively priced places especially westside Danville and Alamo are going fast, but they are priced way below 2006. But if you mean that they bottomed already it may be the case, I just wonder if the increased short sales and REOs coming on the market in our area will have an effect and nudge things down another notch to reach our true local bottom

They need to be way way below 2000 prices... we were already chin deep in a bubble by 2000.

Since 2008 rents in bay area apartment complexes are up around 50% from what I can tell.

My studio went from 800 to 1230
My friends 2BR in archstone went from 1700 to 2500

And its not even the peak summer season when the tech interns drive up rates..