Buy the dip in the housing market in 2019


#41

Don’t know what you are talking about. Already got the loans.


#42

Interest rate staying lower may be helpful for home buyer, but that leads to inversion ultimately downturn.


#43

5. Expect delays in IRS transcript and Social Security reporting

Lenders generally have borrowers sign an IRS request for transcript of tax return (Form 4506-T) at or before closing. The IRS will not process new requests for transcripts during the shutdown. Lenders aren’t required to have the transcripts at closing and, in many cases, can add the transcripts to your loan file after closing.

To process a mortgage application, lenders verify that your Social Security number is valid with the Social Security Administration. With significant delays expected in processing these requests, government-sponsored agencies have relaxed their rules to allow lenders to submit these reports prior to loan delivery rather than earlier in the loan process. If your Social Security number cannot be validated prior to this time, however, your loan could be denied.


#44

Got the loans means got the CASH.


#45

There is some workaround. Two parties can access IRS transcripts online.

  1. Lender representative.

Or

  1. Owner of the SSN.

Last time, my lender, for some security reason, could not pull the IRS transcripts online. Manual dispatch takes longer time, say 10-14 days.

My lender representative asked me to pull the records online. I registered with IRS site (tightly secured, two factor authentication and additional checks to hard to get in) and got the transcripts, then lender accepted closing documents.


#46

I am talking about prices close to last summer peak. Here is one house in @Jane area.

https://www.redfin.com/CA/San-Jose/7063-Phyllis-Ave-95129/home/996402?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link


#47

This is Lynbrook-Cupertino Schools area, looks to me good deal even at this price 1.98M.


#48

There is only one SFH listed in whole Lynbrook High area now.
That house is facing bunch of apartment complex and in very undesirable location.

I guess this area is holding up the price well given the sentiment of the market.
Like this one.

https://www.redfin.com/CA/San-Jose/1022-Windsor-St-95129/home/1258726


#49

The apartment complexes like Villa Colina Apartments (nearest) are 13 homes away - end of the street, not near by.

Getting this 3/2 in quiet location is desirable for those who prefer Lynbrook schools.


#50

@Jil, I guess I confused you.
What I meant was below house which is the only listed SFH in Lynbrook High area now.

https://www.redfin.com/CA/San-Jose/1196-Weyburn-Ln-95129/home/1141061