Jimi Posted November 1, 2022 Report Share Posted November 1, 2022 18 minutes ago, sandy beach said: Oct 2022 monthly Federal withheld income & employment taxes - OMG Stronger than expected, I’m guessing. Link to comment Share on other sites More sharing options...
Jimi Posted November 1, 2022 Report Share Posted November 1, 2022 3 hours ago, DrStool said: Get ready for the move to 4.50, then 5 on the 10 year. A Bear Market Isn’t the Mirror of a Bull I look at home listings. It's what I do. This isn't a pot-farm. It's a home in the desert. Or more likely, a "second home" in the desert. 4bd/3ba, 2300sqft on 2.25 acres asking $519K. https://www.redfin.com/CA/Yucca-Valley/56760-Chipmunk-Trl-92284/home/3824588 Redfin shows this transacted on April 14, 2021 for... $510K. According to FRED, on April 14 2021, the 10 year yield was 1.64%; while the day after, the 30-year mortgage rate was 3.04%. Let's say they put down 20% and carried the balance with a 30 year mortgage. Calculators at the ready! PV = $510K*80% = $408,000 FV = $0 N = 360 I/Y = 3.04%/12 = 0.25333 PMT = $1,728.96 FRED's last data for the 30-year mortgage rate was 7.08% on October 27, 2022. Let's say someone comes along and offers them the $510K, allowing them to exit without the $9K gain associated with their current asking; and assume all prior assumptions hold, except for the need to update the mortgage rate. Calculators at the ready! PV = $510K*80% = $408,000 FV = $0 N = 360 I/Y = 7.08%/12 = 0.59 PMT = $2,736.39 Raise your hand if you think they'll get an offer at their April 2021 transaction price? Link to comment Share on other sites More sharing options...
SiP Posted November 1, 2022 Report Share Posted November 1, 2022 9 minutes ago, Jimi said: I look at home listings. It's what I do. This isn't a pot-farm. It's a home in the desert. Or more likely, a "second home" in the desert. 4bd/3ba, 2300sqft on 2.25 acres asking $519K. https://www.redfin.com/CA/Yucca-Valley/56760-Chipmunk-Trl-92284/home/3824588 Redfin shows this transacted on April 14, 2021 for... $510K. According to FRED, on April 14 2021, the 10 year yield was 1.64%; while the day after, the 30-year mortgage rate was 3.04%. Let's say they put down 20% and carried the balance with a 30 year mortgage. Calculators at the ready! PV = $510K*80% = $408,000 FV = $0 N = 360 I/Y = 3.04%/12 = 0.25333 PMT = $1,728.96 FRED's last data for the 30-year mortgage rate was 7.08% on October 27, 2022. Let's say someone comes along and offers them the $510K, allowing them to exit without the $9K gain associated with their current asking; and assume all prior assumptions hold, except for the need to update the mortgage rate. Calculators at the ready! PV = $510K*80% = $408,000 FV = $0 N = 360 I/Y = 7.08%/12 = 0.59 PMT = $2,736.39 Raise your hand if you think they'll get an offer at their April 2021 transaction price? Well yield rose from 3 to 7 but PMT from 1728 to 2736. Still not bad 😂 Link to comment Share on other sites More sharing options...
potatohead Posted November 2, 2022 Report Share Posted November 2, 2022 2 hours ago, Jimi said: I look at home listings. It's what I do. This isn't a pot-farm. It's a home in the desert. Or more likely, a "second home" in the desert. 4bd/3ba, 2300sqft on 2.25 acres asking $519K. https://www.redfin.com/CA/Yucca-Valley/56760-Chipmunk-Trl-92284/home/3824588 Redfin shows this transacted on April 14, 2021 for... $510K. According to FRED, on April 14 2021, the 10 year yield was 1.64%; while the day after, the 30-year mortgage rate was 3.04%. Let's say they put down 20% and carried the balance with a 30 year mortgage. Calculators at the ready! PV = $510K*80% = $408,000 FV = $0 N = 360 I/Y = 3.04%/12 = 0.25333 PMT = $1,728.96 FRED's last data for the 30-year mortgage rate was 7.08% on October 27, 2022. Let's say someone comes along and offers them the $510K, allowing them to exit without the $9K gain associated with their current asking; and assume all prior assumptions hold, except for the need to update the mortgage rate. Calculators at the ready! PV = $510K*80% = $408,000 FV = $0 N = 360 I/Y = 7.08%/12 = 0.59 PMT = $2,736.39 Raise your hand if you think they'll get an offer at their April 2021 transaction price? whoever is taking the pictures, sure does have a fetish for inside wall corners. Link to comment Share on other sites More sharing options...
Jimi Posted November 2, 2022 Report Share Posted November 2, 2022 1 hour ago, potatohead said: whoever is taking the pictures, sure does have a fetish for inside wall corners. Didn't notice that the first time. They are trying to make the interior spaces look voluminous. Link to comment Share on other sites More sharing options...
Jimi Posted November 2, 2022 Report Share Posted November 2, 2022 Link to comment Share on other sites More sharing options...
Jimi Posted November 2, 2022 Report Share Posted November 2, 2022 Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.