Open House Picks: Six Months Later
Comment: Freeze! Open House Picks 10/03/08 [Brownstoner] Previous Six Months Later Posts [Brownstoner]
Comment: Freeze!
Open House Picks 10/03/08 [Brownstoner]
Previous Six Months Later Posts [Brownstoner]
FatLenny: OK.
Bklnite: Where does the district switch from PS 39 to PS 107? I know that if you live on 8th Street & 7th Ave, you’re in 39.
Jackal, you miss the point and the sarcasm, of course, regarding 5- and 15-year terms. Ability to afford a 30-yr mortgage may be your requirement but that doesn’t make it universal, nor does it make a 30-yr fixed product the best for all.
If you have friends who have gotten themselves into trouble with risky products, well, that’s their problem. That doesn’t make a 10/1 ARM a risky product. It doesn’t mean everyone should choose fixed mortgages.
I don’t have anything against you. In fact, I’m heartened that you drink gin and tonics. But I think your logic and proscriptions are often wrong-headed and you pretend to know what’s good for everyone. I disagree.
The “south slope” house on 11th St. is zoned for the crummier PS124
The “park slope” house on 8th st. is zoned for the better PS107
Someone said the South Slope house is zoned for a crummy school. It’s zoned for PS107 which is a very, very good school, second in demand only to PS321.
FatLenny: Ability to afford a 30-year mortgage is a minimum. It means you can actually afford the place. If you can do it with a 15 or a 5, or better yet with no mortgage at all, then by all means do so. But don’t think you can afford a place just because you can afford the initial payments of an ARM of whatever stripe (option, IO, plan old ARM, or whatever). You completely missed the basic point I was making.
You seem to have gotten yourself bent out of shape about something I said somewhere else and keep sniping at me, which I guess is fine because you aren’t really hitting the mark, but it is vaguely annoying.
yeah lenny — I agree, you’re supposed to buy in the long term, no question.
Freeze!!! Price Police!!!
La la la la Lehman!!!
***Bid half off peak comps***
“…how far will it drop, and how long will it take?”
Fifty percent or more (easy prediction given the history and fundamentals). Multiple years (impossible to pinpoint). Impatient ones will be stung with regret and burdened with debt.
***Bid half off peak comps***