Norcal Spotted and BS Thread

I know a very good mortgage broker if anyone is in need. Was my neighbor for 17 years. Did a couple refi's with him, and bought a new home end of 2014.

 

So many people have little or no equity on day 1. When that's the case, you are forced to buy it by your lender. Once your equity is between 20-30%, you can have it removed. I don't know that more interest works to avoid it. A larger down is better because that's a direct increase in your equity.

 

The only problem with that is it would take me forever to get to a 20% down while attempting to live as is now and save. And I make a decent respectable wage. It's just shitty all around.

 

Like others have said, now is not a good time to buy. Housing prices are high and there are still quite a few buyers out there, so competition is there.

The only reason we bought (last year) is because we gained a ton of equity when we sold our condo and used that to put down on my house.

The only risk with waiting until the market goes down is that the rates are really good right now. No one knows when they will go up again

 

All this house talk, you guys are stressing me out haha. My mother in law is trying to get us into a house this spring. She is being super generous and helping us out big time with our down payment but I'm stressed because we are having our second child in July and my wife will stop working (not that she makes much 1k/month). Plus Santa Cruz blows for trying to buy a house. At least we will have over 30% down so no PMI for us.

 

Rates will not go up for quite a while. The Bay Area is the least risky place to buy a home. Demand is always pretty high. People want to live here.

 

Where is nick with all this mortgage talk @Mademan925

 

Im am the supervisor for loan processing and underwriting in the private banking mortgage origination channel at a small local bank that does a large portion of the bay areas mortgages. NO one has a magic 8 ball. Right now rates are at a historic low and demand is high so home values are up since the mortgage crash. Now for all we know the market will stay this way for the next ten years or it will crash tomorrow. My advise is to find a home you like and can AFFORD! Get a fixed mortgage and forget about what the home is worth. Also, Try not to take cash out of your home if the market goes up. If your happy with the home and your payment it doesn't matter what the house is worth....

 

There he is

 

looks like plenty of room for Sara and I, thanks uncle Jason.

 

Is there room in the yard for a tepui....

 

someone mentioned it but I'm to lazy to go back and quote it, right now I am just continuing to save. Sitting on that down payment and I will be ready to jump on a house when the market goes back down. I don't care if it takes 10 years! My cousin and Mom both bought houses in 2010, they both have mortgages under $900 in Sonoma County with houses worth over 500k. I don't think I will ever get that good of a deal but fuck me if Im gonna be one of those suckers that looses it all! kudos to all you with big boy jobs that are able to do it right now, maybe one day.

 

im gonna camp in front of your house

 

Looks like its only 1.5 miles from the casino. I can stumble that far

 

Mother of god

 

@SCRunner12

Blake is going to take that skid to Santa Cruz tonight and will be in the Boardwalk area. If @Another_Silver_tacoma cant pick it up before Blake leaves town can you rendezvous with him and maybe hold onto that skid until Jake is able to pick it up? I would hate to have it in his town and end up carrying it back to Santa Rosa again.

If any other Santa Cruz members are able/willing to do so LMK. I'm counting on it being picked up without issues but trying to hedge my bet just in case it doesn't.

It's a TRD aluminum skid, so doesn't take up much space or piss off your wife.