Wednesday, February 07, 2007

My department should stay in state: mortgage assistance

Well... my department has decided to stay in state. Actually, a couple of departments that are grouped together are tarted to say in the south bay. This has me happy and sad. Happy as I love the south bay and wish to buy there. Sad as I see the home prices and I know a real estate downturn is slow. Incredibly slow.

But one other thing changed. The company is going to offer mortgage assistance. They'll buy it down 50 basis points, pay title insurance, and a few other closing costs. Hopefully this is around in 2 years. :)

This isn't to say my compan isn't moving people out of state. It says nothing about what is happening with other departments or divisions. Heck, the latest rumor is that Boeing commercial satellites is cutting consultants in a big way. Fact? Fiction? I don't know for sure. If you do, please tell. ;)



Got popcorn?
Neil

3 comments:

TJ & The Bear said...

Neil,

Noted on THBB that you've found a place. How'd that work out for you?

BTW, I call the Hollywood Hills home.

Anonymous said...

It's a start, but when homes in the area are in the high hundreds/ low millions (for a starter in the four beach cities), this won't help at all. Most people roll these costs into the loan which add on a payment of a hundred a month...at the most. Good luck on hiring talent, especially engineers from the rest of the country.

wannabuy said...

Anon,

We're having a devil of a time hiring talent. With 60% of talent coming from out of state and a rapid bleed rate from the state... we'll have to ship departments. Heck, I think a few aerospace divisions will leave LA. I hear rumors... but have no facts.

TJ,
I haven't actually signed for the new place. The fiancee wants to look a little more. Since more units are being completed... I have no problem with that. :) But we only have a few weeks to decide (due to my current lease expiring).

Got popcorn?
Neil