We have been renting our home for over five years and have recently learned we will at some point have to move out because the owners have decided to sell and we are not ready to buy at this time.
I feel the market is slowing and do not want to be pushed into buying until atleast we see where things are in a year. My problem is, should we stay put for now. They have several others to sell and ours is not put on the market yet. They have a total of six to sell. Would you be looking for a place to move or sit tight and wait it out?
2006-09-27 17:37:05 · 12 answers · asked by ♥ 1 in Business & Finance ➔ Renting & Real Estate
I would sit tight until the house sells.
As you mentioned, the market is slowing, and it is slowing greatly, the owners may not find a buyer for the house at all.
So stay put until the house sells, but also be aware of places you would like to move to just in case.
2006-09-27 17:39:39 · answer #1 · answered by AirborneSaint 5 · 0⤊ 0⤋
I'd have a talk with the landlord. Maybe he/she would be willing to sell the other five houses first and give you a definite timetable for when the one you're renting will go on the market so you can plan your move. If you like the house and would like to buy it, maybe you could tell the landlord that you're not ready to buy now but could be ready in (and here you give the most realistic time window you can figure at the present time) and see what the landlord has to say about waiting, knowing that he/she has a committed and dependable buyer.
2006-09-27 17:42:38 · answer #2 · answered by silver.graph 4 · 1⤊ 0⤋
Poulte and other national home builders have had new home cancellations in EXCESS of 50%. It is certainly not a sellers market, but the real estate market has a lot more softening up to do. Sales in most categories in the majority of the country are down, so unless you are planning on moving to an area that you think will retain its value, (California Coast for instance), I would be careful before buying.
If you mortgage a home and its value goes down for a significant enough period of time, you'll owe more than the house is worth and won't be able to sell.
2006-09-27 19:08:22 · answer #3 · answered by Some Dude 1 · 0⤊ 0⤋
The market is a bit soft, and its about to be winter. Unless they a offering a can't pass up deal, youre most likely good until spring/summer of 2007.
2006-09-27 17:40:13 · answer #4 · answered by ? 2 · 1⤊ 0⤋
I would start looking so that I have a choice rather than wait until the last minute and have to take whatever is available. What difference does it make if you pay rent where you are or somewhere else?
2006-09-27 17:39:51 · answer #5 · answered by notyou311 7 · 0⤊ 0⤋
Dont' wait till the last minute, cuz then you'll definately be stressing! Keep in mind you DON'T have to JUST move... you can look into factors that you want in your place, like if you want a three bedroom? two bathrooms and the whatnots... :) ... GOOD LUCK!
2006-09-27 17:45:41 · answer #6 · answered by sweetsuezq4u 3 · 0⤊ 0⤋
the bottom line......u need to buy a home,renting,ur helping someone else buy one....talk to someone in real estate.is the market really slow? good luck future home owner.
2006-09-27 17:42:38 · answer #7 · answered by liljimis 3 · 0⤊ 0⤋
start looking or make an offer its a buyers market now
2006-09-27 17:39:16 · answer #8 · answered by lobo 4 · 0⤊ 0⤋
If you see the leaves turning color, you know winter is coming. It's better to start early in preparation for the inevitable.
2006-09-27 17:39:29 · answer #9 · answered by Privratnik 5 · 1⤊ 0⤋
imagine how much headache you can save them if you buy it.
If you possibly could afford it, and have stable income, get a great great dicount and take it
2006-09-27 20:00:20 · answer #10 · answered by cjkloanguy@yahoo.com 2 · 0⤊ 0⤋