Hi Matt: Excellent information. I really like your stratforward answer. I have been in the mortgage lending business for the last 30 years. I just wanted to make a small correction where you mentioned that buy down is not a good option because borrowers will lose their buy down money if they refinance. if the loan is paid off or refinanced early (during the first two years of the loan), the borrower receives a refund of any remaining buydown funds. This is one of the most beneficial aspects. Thank you
Thanks. I agree in some aspect, but with rates heading down, I still think the money could be used best elsewhere. But thats just my take, they work out great for a lot of people.
Millenial condo owner here. Not sure I’m as bullish on the LSD buildings. The problem for me was they lacked even the possibility of supporting modern internal features such as gas stoves, washer dryers and central climate control (vs window AC for example). When combined with dated interiors it painted a picture where it was hard to imagine spending hundreds of thousands of dollars on the property. The buildings with the bigger units seem to do better but I can’t imagine having a million dollars to spend and trading the creature comforts that are so easy to find in the city for a view of the lake. I wonder if someday these will be bought out and torn down for something newer.
I 100% agree. Younger buyers wont be going crazy for LSD places. I do think empty nesters and in town buyers will be. They typically love these. But all your points are valid.
Hi Matt: Excellent information. I really like your stratforward answer. I have been in the mortgage lending business for the last 30 years. I just wanted to make a small correction where you mentioned that buy down is not a good option because borrowers will lose their buy down money if they refinance. if the loan is paid off or refinanced early (during the first two years of the loan), the borrower receives a refund of any remaining buydown funds. This is one of the most beneficial aspects. Thank you
Thanks. I agree in some aspect, but with rates heading down, I still think the money could be used best elsewhere. But thats just my take, they work out great for a lot of people.
Millenial condo owner here. Not sure I’m as bullish on the LSD buildings. The problem for me was they lacked even the possibility of supporting modern internal features such as gas stoves, washer dryers and central climate control (vs window AC for example). When combined with dated interiors it painted a picture where it was hard to imagine spending hundreds of thousands of dollars on the property. The buildings with the bigger units seem to do better but I can’t imagine having a million dollars to spend and trading the creature comforts that are so easy to find in the city for a view of the lake.
I wonder if someday these will be bought out and torn down for something newer.
I 100% agree. Younger buyers wont be going crazy for LSD places. I do think empty nesters and in town buyers will be. They typically love these. But all your points are valid.
Solid suit color
its a little loud LOL