re #2 : I am in that select company. I now own two residences because my current residence has not sold. I will be moving to my new primary residence in a few weeks and will continue to be the not so proud owner of two primary residences until this house sells
Good luck!re #2 : I am in that select company. I now own two residences because my current residence has not sold. I will be moving to my new primary residence in a few weeks and will continue to be the not so proud owner of two primary residences until this house sells
Are you working with a lender to offer rate buy downs? If not, you should probably be. If that's not something your listing agent is suggesting, you might want to ask them about it. In the current environment, that is far more effective than price reduction.re #2 : I am in that select company. I now own two residences because my current residence has not sold. I will be moving to my new primary residence in a few weeks and will continue to be the not so proud owner of two primary residences until this house sells
Judging by their stocking issues and price increases, not that long. I go by about once a week, primarily because their baked goods are better in my opinion than most and a couple of other things like a coffee that I liked that they haven't had in six weeks. They are getting gaps on their shelves and some things seem to have been removed.
It will be interesting to see what the Wegmans and the Harris Teeters of the world report in sales. Though i guess HT gets buried in Kroger's data now.
There is that apocryphal saying: "1/3 of your people would kill another 1/3, while 1/3 watches."
This is a new concept for me. What is a rate buy down ?
Are former federal workers showing up in these numbers yet? When those kick in, I expect a surge.
My guess is that the slowdown you have seen is indeed affordability driven...but more payment than actual price. Take a look at the below which would involve you as the seller paying $30k for a rate buydown rather than you taking a 30k price reduction. I just assumed a note of $500k but we can play with the numbers.
Related
The Home-Builder Heir Who Is Stoking the Jerome Powell Frenzy
Trump’s freewheeling Federal Housing head Bill Pulte is waging an unorthodox social-media campaign to oust the Fed chair
—> https://www.wsj.com/finance/bill-pu...0?st=MzDoLP&reflink=desktopwebshare_permalink
“… The 37-year-old FHFA chief, known to some as “Little Trump,” has recently inserted himself into the middle of the action, thanks to a relentless social-media campaign targeting Federal Reserve Chairman Jerome Powell. He even drafted a letter for President Trump to fire Powell. (Trump on Wednesday denied that he planned to, though didn’t rule it out entirely.) [He is also behind a new push to demand a Biden appointee to the federal resign that got Trump to post this today:
]
…Pulte, an heir of one of the largest home builders, has 3 million followers on X, after gaining popularity by giving away money using the platform. Like Trump, he regularly posts policy changes or ideas in real-time and airs frustrations. Shares of Fair Isaac Corp., also known as FICO, fell sharply earlier this year after Pulte said he was “not happy” with the credit-scoring firm.…”
This is correct. Large homebuilders commit more mortgage fraud in a day than the rest of the nation does in a year.
Yeesh, that’s a crap deal for the buyer. They are only getting about 77% of the value of that $30,000. But it’s a nice deal for the lender which is getting a prepayment of a portion of the interest for the first three years plus a significant premium of the interest they would have been paid this three years on the fixed monthly payment.My guess is that the slowdown you have seen is indeed affordability driven...but more payment than actual price. Take a look at the below which would involve you as the seller paying $30k for a rate buydown rather than you taking a 30k price reduction. I just assumed a note of $500k but we can play with the numbers.
Now...let me go on record as saying I generally think buydowns are bad financial advice for most buyers and this kind of shit is propping up the market in dangerous ways...BUT in this case im putting my listing agent cap on and protecting you (the seller) from the perils of the current market.
By the way, next time call me. I may live in Cary and do 95% instruction, but I still take care of friends and family in Chapel Hill and Hillsborough. Anyone from here qualifies as friends and family.
