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  1. #8401
    Join Date
    Nov 2005
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    Down In A Hole, Up in the Sky
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    Quote Originally Posted by Kevo View Post
    In the long run, I'm sure CB real estate will be fine. They aren't making more Crested Buttes, and we're on track to hit 8 billion people in the world pretty soon here.
    Imagine what the Four Way will be like when the US has a billion people...
    Forum Cross Pollinator

  2. #8402
    Join Date
    Sep 2005
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    PRB
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    22,737
    My mortgage guy said he expects 30 year rates to drop below 3 again, but it might be a little bit.
    "fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
    "She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
    "I'd eat a bag of Dicks and wash it down with a Coke any day." - iceman

  3. #8403
    Join Date
    Oct 2007
    Posts
    8,772
    COVID-19 economic crisis not yet reflected in Summit County real estate market:
    https://www.summitdaily.com/news/cov...estate-market/

  4. #8404
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    Jan 2005
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    cb, co
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    3,819
    Quote Originally Posted by Kevo View Post
    In the long run, I'm sure CB real estate will be fine. They aren't making more Crested Buttes, and we're on track to hit 8 billion people in the world pretty soon here.
    Very true, most things are a long game.

    Rideit- There would probably be riots before the 4 way got a stop light, even with a billion people. Ha!

  5. #8405
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    5,091
    Quote Originally Posted by goldenboy View Post
    Very true, most things are a long game.

    Rideit- There would probably be riots before the 4 way got a stop light, even with a billion people. Ha!
    They should turn it into a roundabout.

  6. #8406
    Join Date
    Jan 2005
    Location
    cb, co
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    3,819
    Quote Originally Posted by skaredshtles View Post
    They should turn it into a roundabout.
    That was a possibility when they re-did it ~10 years ago and added those turn lanes. They really, really want a roundabout by the school as you enter town.

    Edit for Kevo- I was just editing my podcast interview with John Norton, head of the local tourism association. In the interview, he actually says both Dec and Jan were up 6% YoY and the data wasn't in for Feb. Such a weird interview to edit, we recorded just a couple days before things got crazy.

  7. #8407
    Join Date
    Dec 2016
    Location
    In a van... down by the river
    Posts
    5,091
    Quote Originally Posted by goldenboy View Post
    They really, really want a roundabout by the school as you enter town.
    Seems like a good idea for that location...

  8. #8408
    Join Date
    Dec 2016
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    1,612

    Real Estate Crash thread

    Kind of a whoa. Since the close down order 3days ago (no enter) - 1512 properties went pending on the NWMLS. Basically 1500 in western WA. Click image for larger version. 

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  9. #8409
    Join Date
    Mar 2008
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    the ham
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    7,543
    Every morning my wife looks at that and yells "you're not going to believe this - even more listings!"

  10. #8410
    Click image for larger version. 

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  11. #8411
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    Oct 2007
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    8,772
    Not sure about the rest of the country, but for here, listings always increase in the spring, after ski season is over. Right about now. So it is tough to tell if any increase in listings is corona related, or just the seasonal churn.

  12. #8412
    Join Date
    Dec 2016
    Posts
    1,612
    Spring is the hottest season here as well. Picks up late January. It was the most competitive I’ve seen in years heading into this virus.. While my post was about the amazement of how many homes are selling via virtual marketing and while so many predicting doom & gloom. But true many are coming to market as well, hard to say how much was scheduled to anyway.
    I think some of the population now may value a proper home more after being quarantined. In hot cities with employers the depreciation pain will be less.

  13. #8413
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    Mar 2008
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    the ham
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    Yeah, she follows that with they were probably already in the pipeline, but she's still surprised more of them aren't cancelled due to uncertainty about, well, pretty much everything.

    I didn't see any stimulus money earmarked for mortgage liquidity.

  14. #8414
    Join Date
    Mar 2006
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    16,212
    Quote Originally Posted by Ted Striker View Post
    I didn't see any stimulus money earmarked for mortgage liquidity.

    https://www.newyorkfed.org/medialibr...ule-032720.pdf

  15. #8415
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    Mar 2008
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    the ham
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    That's good because there are going to be a lot of missed payments.

  16. #8416
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    Mar 2006
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    16,212
    Quote Originally Posted by Ted Striker View Post
    That's good because there are going to be a lot of missed payments.
    That's up to the mortgage holder. Most banks have front run delays. The Fed purchases are for liquidity which you mentioned so mortgage loans are available.

  17. #8417
    Join Date
    Aug 2007
    Location
    At the beach
    Posts
    13,169
    Doing a refi for a guy now and he calls me to ask if he can stop making his mortgage payments as his wife is laid off. I said hell no and also mentioned to him he must make his 1st mortgage payment on the refi or the lender can ask me to buy back the loan to which he agreed to do. I hope he doesn't fuck me up.
    Quote Originally Posted by leroy jenkins View Post
    I think you'd have an easier time understanding people if you remembered that 80% of them are fucking morons.
    That is why I like dogs, more than most people.

  18. #8418
    Join Date
    Dec 2016
    Posts
    1,612
    I fear some will fall into the trap of missing a payment then eventually fall behind under the guise its acceptable based off things they’ve heard. No doubt people are strapped but I’d keep that payment history straight. Call me a sceptic but I don’t trust the roll out and follow through of this admin.

  19. #8419
    Join Date
    Nov 2014
    Posts
    1,484
    Quote Originally Posted by Danno View Post
    My mortgage guy said he expects 30 year rates to drop below 3 again, but it might be a little bit.
    I locked 2.875 yesterday, but circumstances were somewhat special.

    I do think we will see rates back into the 2's. The only risk to that outlook is how obvious it is based on current fundamentals.

  20. #8420
    Join Date
    Nov 2014
    Posts
    1,484
    Quote Originally Posted by liv2ski View Post
    Doing a refi for a guy now and he calls me to ask if he can stop making his mortgage payments as his wife is laid off. I said hell no and also mentioned to him he must make his 1st mortgage payment on the refi or the lender can ask me to buy back the loan to which he agreed to do. I hope he doesn't fuck me up.
    You should come hang out on my site for a few days to hear some of the stories. The forbearance onslaught is definitely already a mess. The good news is that I can almost guarantee you that if your funded clients get their payment instructions directly from the servicer, there's no EPD issue for you. And if you hear about that happening, let me know. Massive class action lawsuit risk on an open and shut case. Bottom line have them call servicer and follow their instructions. Servicer can't say no, but by going through their steps, EPDs will be protected.

  21. #8421
    Join Date
    Nov 2014
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    1,484
    Quote Originally Posted by CascadeLuke View Post
    I fear some will fall into the trap of missing a payment then eventually fall behind under the guise its acceptable based off things they’ve heard. No doubt people are strapped but I’d keep that payment history straight. Call me a sceptic but I don’t trust the roll out and follow through of this admin.
    Here's the bigger issue: a shitload of people with jobs are going to do this just because nothing prevents them from skipping 6 payments. And there's an equally big shitload of unintentional consequences for them and the mortgage system as a result. People are still trying to unfuck their credit from hurricane-related forbearances.

    Also, as illogical as it sounds, the current protocol for most lenders is to treat missed payments as a balloon. That's clearly not fucking happening for most Americans. So then they have to refi or modify. Rate could be higher, and it could be harder to remove from credit depending on the servicer.

  22. #8422
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    Mar 2006
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    16,212
    Quote Originally Posted by mattig View Post
    I do think we will see rates back into the 2's..
    What is a representative current rollover adjustment rate on a 5/5 arm fixed at 2.5?

  23. #8423
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    Mar 2008
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    the ham
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    Quote Originally Posted by 4matic View Post
    That's up to the mortgage holder. Most banks have front run delays. The Fed purchases are for liquidity which you mentioned so mortgage loans are available.
    I get it. Was just saying that without the ability to write new loans, and potential defaults looming, it's a snake eating its own tail.

  24. #8424
    Join Date
    Jul 2008
    Posts
    2,899
    Happy to have a new gig in healthcare, psyched to be moving back west, but also scared shitless of the Seattle housing market. Read all the pages since the covid started, give me the news: how do you foresee this affecting the long term rental market in the PNW. Looking for something that starts are 6/1 (1-3 BR, 1-2 BA, with a yard for the pup, within 15-20 minute drive of Pill Hill- you know, just in case you got something ��)
    Do I detect a lot of anger flowing around this place? Kind of like a pubescent volatility, some angst, a lot of I'm-sixteen-and-angry-at-my-father syndrome?

    fuck that noise.

    gmen.

  25. #8425
    Join Date
    Nov 2014
    Posts
    1,484
    Quote Originally Posted by 4matic View Post
    What is a representative current rollover adjustment rate on a 5/5 arm fixed at 2.5?
    A) I don't know what you're asking
    B) 7/1 arms are the thing now.

    Are you asking how much a 5yr arm is adjusting after the first 5 years? Depends on the index, but if LIBOR for instance, just today's mark minus the 5yr ago mark.

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