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2 and 10 year yield spread is now only 40 bps. It was about 160 bps earlier last year. I'm think we will see an inverted yield curve sometime this year which has typically been an indicator of recession.

Is it $1M after closing? As in, if you use the funds for down payment then you don't get the discount?

It is indeed interesting because there are some homes that I've seen a shared roof over the air gap...who would be responsible for roof maintenance in these situations if there isn't a sub association with master insurance?

3% coupon just fell below 100.

"Cream of the crop" Delano former model home going on sale soon. The largest model. 50 Parkwood, Irvine 92602 $1.39M

Pretty bad week for MBS. The 3% coupon dropped so much this week that I wouldn't be surprised that we switch to tracking the 3.5% coupon soon.

I'm always itching to move up but I'm always stopped because why would I want to take on a bigger loan at a 1.5%+ higher interest rate and probably triple my current property taxes?

TUSD schools on that side is not bad compared to the rest of Tustin. The schools are rated well and Beckman High is better than some Irvine high schools (according the ratings).

Some people have an immediate need to close and model homes are available now whereas if you reserved Meadows today you're looking at 12-14 months delivery date.

It'll sell...

Likely a 10/6 ARM. Most have moved to 6 month adjustment periods instead of 1 year. This allows them to offer lower teaser rates because they can adjust more frequently so less risk to them. Edit: Yea I just checked it is 1.99% for 10/6 ARM but with 2.589% APR. That's a hefty amount of costs...

They are about 1/3rd sold out and they haven't even completed a single model home yet.

It was bought in January 2021 not 22.

https://abc7.com/eviction-protections-la-county-renters-board-of-supervisors/11511063/ This is getting a little bit ridiculous at this point. If tenants cannot pay you 1 or 2 months in rent, do you think they can pay you back 3 years of rent?

Next innovation? Big box warehouses with partitions...LOW HASSLE, NO YARD MAINTAINENCE, NO WINDOWS TO CLEAN, BEST PRICE IN TOWN!

It was a super busy open house...probably lots of curious eyes and not a ton of buyers though.

One of the robbers was a previous employee there. Talk about dummies. A one-eyed guy and a previous employee hoping to be unidentifiable in a robbery?

I get that staging is good and whatnot but does it really matter in this market? You could list a complete tear down and it'll sell appropriately in this market.

I'm am increasingly getting frustrated for my buyers on the low end of the market. It feels terrible to hear how defeated they are when listings come out at their budget cap but sells $100k higher. Rates are going up but prices are not going down and neither are the number of offers. It feels...

It's this one he's referring to. https://imgur.com/a/obgfH6e