jkenjohnson
Active member
I wish we would make a move one way or the other (hopefully up). This floundering around is drving me nuts.
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clester's Account Talk
- Thread starter clester
- Start date
I wish we would make a move one way or the other (hopefully up). This floundering around is drving me nuts.
clester
Well-known member
Agreed. As an exampe, Yesterday was more volatile. S fund up about 1% then went negative and finishing flat. The market is undecided as to what to do at this point.
Watching the 690 area on $emw for a possible sell. Otherwise I'm still looking at a target of 720.
jkenjohnson
Active member
Exisiting home sales report might cause some excitement today.
clester
Well-known member
If anecdotal evidence in my area is any indication then it should be a good report. Lots of houses moving now in my neighborhood. We were never a real hot market but folks had been trying to sell for a couple years and finally did.
jkenjohnson
Active member
Greece and the ECB is back in the headlines. I hope we don't get clobbered like we did last summer and fall.
weatherweenie
Well-known member
Not looking too good for now.
clester
Well-known member
The market is not ready to go down yet IMO. Still dip buyers out there and traders seem to be afraid to go short.
jkenjohnson
Active member
Looks like you were right about the housing market. Crystal ball is working this morning.
clester
Well-known member
Yeah, it's nice when it works. Interesting chart on the 10 year treasurys. $tnx. There was a gap that may get filled today from last week but today another gap down that will need to be filled. We bumped the 200 dma and came back down. Maybe it will start moving back up to test it again. That would support stocks.
clester
Well-known member
Also, I am refinancing my house with a 3.875 30 year rate and 0 points from my credit union. If anyone has the ability to get a loan then now is the time to buy. I haven't gotten the appraisal yet so that will be interesting. Of course, I needed at least 70% LTV ratio. I wonder how hard it is for others to get loans?
It can be really tough. My son has a house near Atlanta and FMV has dropped $ 100 k since 2008. There are zero comp sales in his school district that were not foreclosure sales. Even with HARP 2.0 he is having a hard time getting refinanced since most banks don't want to fool with the red tape. The new HARP 2.0 doesn't have LTV limits but he has found that most banks have set their own requirements.
ATCHUNTman
Member
I am waiting on my appraisal (desktop) too, should get it today. I wasn't willing to fork over the $450 fee until I see the "desktop" appraisal first. I know my house has decreased in value but how much? Good luck to you Clester!!
clester
Well-known member
Same to you. I heard Atlanta prices have not been good. Around here sales have been slow but values haven't gone down just slow to no increase. Housing in this area has always been stable. No highs or lows. I guess that's good.
Just for comparison my son's "desktop" appraisal was $ 70K below his tax appraisal value. I understand they don't necessarily correlate but the "desktop appraisals" fail to take into account that high % of the "sales" used as comps are foreclosures, etc. You may be surprised how low some of the values are.
ATCHUNTman
Member
I thought it might be an issue. If I can't refi I will be filing an appeal with my county on their valuation for sure!! They have a much higher number than the current actual value. Thanks for the info.
ATCHUNTman
Member
Yessir, I ran to the G when you went S. i really dislike being in the G but got scared myself. Out of my 2 IFT's so here I sit...
sniper
Active member
if you listen to the 'experts' on the news, you'll drive yourself mad, the news always has a way of making people think it's never a good time to invest and the markets are gonna come crashing down. and by the time they're screaming BUY BUY BUY you're already late to the party and most likely buying the top. I like how some experts say they predicted every market crash that happened, kinda easy to do that when they're constantly doom & gloom 24-7, it's gotta happen sometime, right? haha.
anyway, enough rambling
at least in my experience, i've always walked away with losses whenever following 'experts'. My luck fared better reading charts and trying to figure out what the numbers tell me. With that said though, right now there are some yellow flags but imo, nothing to panic about.
clester
Well-known member
Amen to that! You got it figured out. Btw, I was being sarcastic. I'm with you...do the opposite of the talking heads.if you listen to the 'experts' on the news, you'll drive yourself mad, the news always has a way of making people think it's never a good time to invest and the markets are gonna come crashing down. and by the time they're screaming BUY BUY BUY you're already late to the party and most likely buying the top. I like how some experts say they predicted every market crash that happened, kinda easy to do that when they're constantly doom & gloom 24-7, it's gotta happen sometime, right? haha.
anyway, enough rambling
at least in my experience, i've always walked away with losses whenever following 'experts'. My luck fared better reading charts and trying to figure out what the numbers tell me. With that said though, right now there are some yellow flags but imo, nothing to panic about.
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