deep in a whole lotta trouble.Sorry-I don't know crap about that market besides the fact that the baby boomers are getting old and the retirement destinations will continue to thrive for many years to come.
Unless you have a reason to think that it's going to turn south, I doubt it will. The blue hairs like warmth, and there's only one Florida.
Unless you have a reason to think that it's going to turn south, I doubt it will. The blue hairs like warmth, and there's only one Florida.
The only thing that oncerns me is that I do not understand who is affording these houses. I mean I was forced to sell a house last year that I owned for less than 2 months. I ended up selling it for about 20k more than I bought it for, but did not even come close to covering the realtor fees. Now the same house is on the market for more than 400k more than I sold it for with absolutly NO renovations. The market is crazy, but who is affording to spend a million dollars on a house.
neg am is a cash flow mortgage and if the housing market backs off a bit don't worry your mortgage company will call for the note after you read the fine print. WAMU has the neg am COFI program and had success because they run off the cost of fund note which has been very promising if your looking at investment properties or just looking for a cost effective mortgage.......just watch out and be discipline on catching up on the deferred amount.
