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Danville woman,
Thanks for the reply - what's the rental market like too?
Also, do you know if forclosures are on the rise there?
SFWoman,
Welcome back! We really missed you (not in a creepy or pathetic way though).
The newsletter is free. If you want to redistribute, you have to pay.
But i reiterate, there is no way in hell you got a 5.25 fixed loan on a refi in the last 2 years, period.
Perhaps you did not see where I said that I refi-ed in March of 2004. That was more than two years ago. I paid 3/4 of a point to do the refi. It lowered our monthly payment $350 and has already paid for itself. I think it took about two years to pay back the refi cost. We plan on keeping the place as rental property when we move up, so it made sense to do the refi, even if it would have taken longer.
My wife helps finance real estate construction. I know you in the industry have all these gradations of what being in "real estate" means, but to the rest of us, it is all real estate. She is certainly familiar with what the going rate for borrowing money is.
Also, azrob, a few months back FAB was telling us that he got a 10 year fixed 4 1/4% mortgage. So while mine was good, it is certainly not the best one out there.
Claire
We pay $1995/month for a 3+ bedroom townhouse in Danville. The house has an outdated kitchen but a nice little yard. We started renting this place in June 2005. Our landlord hasn't raised our rent but I have heard that rents are going up.
Lots of nice places to rent in San Ramon, I hear. School system is good and the places there are newer. Having a dog presented some difficulty renting. If you have no pets it will be easier for you.
Check out the local newspaper - San Ramon Valley Times - Hunting for a place is very time consuming and frustrating. Hang in there !
you quote a loan you got 3 years ago on here for comparison purposes jimbo? wow! i bought a new car for $2000 too! I am much better at getting deal than you! oh yeah that was in 1964...
Uh, we had a big long discussion about various places we had gotten loans and where we had gotten good and bad financing from. Remember this from HelloKitty?
The best loans I ever got were from Wells Fargo and Countrywide going DIRECT -no broker-. I made them match rates by faxing each other the Good Faith Estimate from the other guy.
They hated me for it but put up with me. Wells Fargo beat countrywide and my best loan ever was 4.375 APR amortizing 3/1 ARM (reset in 3 years).
Yet somehow this deal did not raise your ire. You are an odd bird.
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So far, looks like SP wins the "best successor to Robert Cote's 'Silent Spring, 2006' award! (Well, technnically he has to share some of the credit with Nathaniel Welch, but his applying the term to the housing market is original.)
Aside from that story about sales taking their worst plunge in 18 years, does anyone have any local observations from their own neighborhoods? How are things holding up in your neck of the woods? Has the fear and panic started to sink in a little, or are most sellers still drinking The Amerikan Dreamâ„¢-flavored Kool-Aid?
HARM
#housing