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Happy Day of the Dead - 11/1/22

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3 hours ago, DrStool said:

Get ready for the move to 4.50, then 5 on the 10 year. 

ze1q5

 

 

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?

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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 😂

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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.

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1 hour ago, potatohead said:

whoever is taking the pictures, sure does have a fetish for inside wall corners.

:lol::lol::lol:

Didn't notice that the first time.

They are trying to make the interior spaces look voluminous.

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