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Now's the time to pull the trigger

Homesales are expected to stay on an uphill trend through 2012. If we match the first qquarters sacles at just over 1.25 mil, we will grow roughly 4%. This will drive housing costs and mortgage rates up. We are liekly looking at rates of 5.5%-6% by years end.
With apartments trending upwards also, look for new home starts to increase as well. Potentially pushing 1 mil created by 2012.
Home prices in areas that haven't already bottomed out likely will this year and start to increase early 2012. And with 2 - 2.5 million forecasted jobs created by end of 2012, rates can be expected to climp accordingly.
If you are on the fence for a refi, PULL THE TRIGGER while rates are still in the 4's. If you are on the fence about leaving your apartment and buying a home, condo or townhome, PULL THE TRIGGER. Rates will very unlikely be this low again this decade.
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July 05 2011 - Fort Mill
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If you just signed up for Zillow and the best 1st post you can make sounds like you just left a NAR convention hopped up on the house blend Kool-Aid...

Pull the Trigger!
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July 05 2011
Profile picture for droopyd
"Pull the trigger" can be taken more than one way I suppose.
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July 05 2011
Main Street, your profile says you signed up in June 7, 2011 but your review says they refinanced earlier this year, that's a problem.
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July 05 2011
NewsFlash!

All new ZMM confirmed lender accounts come pre-loaded with 1 bonus review. That's right, for a limited time only, get a free review with activation and get a leg up on the competition.


Disclaimer:Limited quantities available, offer only available in the United states and Guam, void where prohibited.
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July 05 2011
LOL, you are probably right. Isn't Guam where all the snakes are?
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July 05 2011
Profile picture for Pasadenan
Two weeks ago, the median quote on ZMM for 30 year fixed, 20% down,480+ FICO was 4.26%.  Today, it is now at 4.49% due to some stock market items toward the end of last week.  Already the median quote rate is dropping from that from over the weekend.

So, why do people advise locking at 4.5% when 4.25% was available, and when the rates are going back down since there is absolutely no reason why the stock market would be considered "stable" at the present time, and there are still all kinds of downward pressures on the stock market throughout the world, including Greece's economic debt?

It sounds like someone is desperate for a commission to me.

There are many loan officers posting on Zillow that have much better track records of providing meaningful market analysis and interpretation of rate changes.

40 of them have provided more than 500 posts each.

Russian Roulette is a dangerous game to be playing, especially with people that have little experience.
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July 05 2011
The review took place on 6/29 and the lender signed up on 6/7.   The reviewer said the refinance took 3 weeks and the refinance closed earlier this year.   So the quote could have occured on 6/7 and closed on 6/29.

Earlier this year, I wrote a post where we looked at a timeline of a review that occured.  
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July 05 2011
" The reviewer said the refinance took 3 weeks and the refinance closed earlier this year.  So the quote could have occured on 6/7 and closed on 6/29."

If the refinance closed on 6/29 and the review was on 6/29, why would they say it closed earlier this year instead of "today" or "yesterday" or even "earlier this month"? 

We would also have to believe that a consumer chose this lender on their very first day of quoting, with no reviews over all the other lenders out there like Roundpoint, that they went right into escrow and closed in 3 weeks. We also have to swallow that they then made a new account on 6/29 so they could review the lender. 

While this all could technically happen, I could technically win the lottery tomorrow too.

Maybe Zillow will simply check the IP of the reviewer and find out.





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July 05 2011
Profile picture for sunnyview
I definitely wanted to pull the trigger when I read your post. Suppose that's something.
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July 05 2011
Lol sunnyview....
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July 05 2011
Profile picture for the_country_hick
Refinancing has been a good idea for a few months now.

Buying a house has been and continues to be a bad idea.

Peter Schiff: Here's Why Home Prices Have To Decline At Least 20% And Probably More

The Fallacy of a Pain-Free Path to a Healthy Housing Market - Economic Letter, December 2010 - FRB Dallas <-- the federal reserve

"If you are on the fence... PULL THE TRIGGER "

I was not on a fence. But when I read your post it did remind me to look outside to see if any woodchucks were there. I have already made the decision to PULL THE TRIGGER on 2 woodchucks. I still have at least 2 more woodchucks to pull the trigger on. 

Are you sure that is what you had in mind when you posted this?
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July 05 2011
 
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Now's the time to pull the trigger
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Latest reply by Dan
July 05 2011 | 11 answers
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