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Yup psychology plays a huge role, and that's why having a big bankroll and money management will help tremendously. It allows you to ride out the paper losses and avoid selling out of fear.

almon, check out pedfed.org. They have a 5/5 arm jumbo for 5.375% with very little fees. Best deal out there and might even cheaper than your 3/1 arm. Just donate $20 to some military charity and you will be a member.

I agree with Irvinerenter. I have also been trading for about 8 years. I started in 99, made 500% like everyone else, then lost it all. That was the best education I could've ever had. There's no system or books that will teach you how to trade successfully. You just have to go out and...

I agree graphix. I live in Orange and looked for houses to rent this spring in Orange. Small (1800sqft) old houses in so-so neighborhoods were renting for 2400-2700 depending on condition. VP is of course a much nicer area, with bigger houses. Searching on realtor.com, there isn't a listing...

myfirsthome, I'm assuming you paid points to get that rate? Mind telling us how many? When is your close of escrow?

Shooby, what type of loan are you looking for and what rates are you getting from UAMC. I agree with you - prices falling and rates falling were another reason I jumped in. If you haven't already, take a look at penfed.org. They have the best rates on a unique 5/5 arm. 5.375% no points, no...

Congrats Shooby. I also bought from Lennar and I'm dealing with UAMC right now. Very slow indeed. I do agree the flooring is a ripoff, but I decided to overpay for piece of mind(warranty) and having it done before I move in. "Not to mention putting the 20K on flooring adds to your property...

Veekay, read up on some of the threads on Columbus Grove communities and then go visit. They are willing to deal, but you need to show them you are interested and qualified. I'd use the information you've seen here as a base and negotiate from there. You have nothing to lose by submitting and...

Rocker, your point about shorting in February is well taken, but only reinforces my point about shorting and how hard it is to accumulating wealth. If you timed it perfectly and you were lucky enough to short then, you gained 100% max. If you were a contrarian bull and bought RIMM, BIDU...

I'm almost all cash now. I have 10% in gold since last year. I have been both short and long equities. Recently sold BIDU and CROX for nice gains but i am now basically out of the market now. I was short homebuilders and subprime last year and made good money, but I was a little early and...

No. You can become a member by joining this: https://www.penfed.org/membershipApplication/eligibility/elig10.1.2.asp I think it cost less than $100.

Irvine, I have 75K off price and 75K in incentives to use for buydown, upgrades, rebate at close. Total is 150K, off already reduced prices, which is why I'm close to jumping in. My net is now on average 200k below comps in the neighborhood, so I have little fear of the appraisal coming in below...

Irvine, I think whole amount is tied to the big incentive to give ME the incentive to use their lender because they want to close in 20 days. The builder is Lennar and I think they want to close fast for year end and cash flow. Slamdunk, thanks for your input. They have already given my...

This is real money I can use to buy down loan, or use for upgrades as long as i close with their lender. Let me see if i understand now. I will sign a contract to buy. This contract will require i submit a loan application in x days. Does the loan application I sign, which removes my...

Thanks for your detailed response Irvine. The incentive is 75K, so it is very large. Otherwise, I would go with penfed's 5 year arm that resets every 5 years at 5.25% with no points. Can you explain the loan contingency in a little more detail? Does this mean the contingency gets removed...

Hello everyone. I'm thinking about purchasing a new home. I have a question about the deposit. There are incentives tied to using their lender. I'm worried I won't get a competitive rate. If i have already signed a purchase agreement and paid the deposit, can I still get the deposit back if the...

You're right irvine. Prices aren't much lower than last winter's prices. Therefore, if you really want Lantana, or anywhere else in VOC, I'd put in a much lower offer. Odds are, they will go lower in dec/jan. The way I look at it, rates are higher than a year ago, market conditions are...

Axoim, you forget one variable in your analysis. RATES. Rates were much higher the late 90s. You must calibrate for the much lower rates currently. We all know that most people don't buy houses with cash, but by borrowing money. If the cost of borrowing is much lower, the price can be...

My parents also like these homes. They are also waiting for 1.2 mill to jump in. They haven't lowered prices much. I first looked at them in march with my parents. They were offering 20K incentives then, it's now 30-40. Not much of a drop AND rates are now 200 bps higher. I think your...

Laing, thanks for the suggestion, but the medical center is located in Orange, so it would be quite a drive. Nirvinerealtor, I work in the retail industry. Thanks for the perspective on your buyers.