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Live Journal Seattlites: Still Clueless! Unreal

synthetiksynthetik
edited March 2008 in Seattle Real Estate
Seattle Live Journal Community
Yeah, I've seen Seattle Bubble and the author seems to have a marginal understanding of economics and real estate at best. Here's the thing, no one, in their right mind, would take 150k for a house they paid 700k for unless they were absolutely forced. Nor would most people pay cash for a house even if they had it. If you have the kind of cash sitting around to do that, you probably have a good understanding of investing and a 10% return beats 6% interests

and another... there are just too many great quotes!
Actually, now may be a great time to buy. There is more to choose from than the past 2 years, and interest rates are super LOW. Seems to me, it would be a great time to buy in Seattle.

Also, not everybody got into trouble with those zero down loans. We bought in W.Seattle 2 years ago (our first home), zero down and will NOT have any balloon payments to worry about. Ever. That's all because our mortgage lender ROCKS and took great care of us.

Comments

  • UbersaladUbersalad
    idiots read livejournal.
  • Lake Hills RenterLake Hills Renter
    Do they have a MySpace page?
  • MarkorMarkor
    I like how some there think the economic bullet has been dodged because there's one day of average (not really bad) news. More likely the collapse is just taking a breather. I'm gonna look into getting some physical gold now that the price has dropped some. I finally got completely out of stocks (so a huge rally is imminent!).
  • crucifictioncrucifiction
    How much do you want to bet the "our mortgage lender ROCKS" person probably never read the papers and will be in the Seattle Times a year from now complaining how about they were tricked? "We didn't realize our payment would triple in 3 years, our broker assured us there was no balloon payment. I just wish I understood what that meant".
  • MarkorMarkor
    crucifiction wrote:
    How much do you want to bet the "our mortgage lender ROCKS" person probably never read the papers and will be in the Seattle Times a year from now complaining how about they were tricked? "We didn't realize our payment would triple in 3 years, our broker assured us there was no balloon payment. I just wish I understood what that meant".
    Yeah there was no mention of it being a fixed rate.
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