Sellers are so despirate right now - is it not the best time to buy? Rates are low. Stock is high.
Please don't answer with I cannot afford it or I cannot get a loan.
2007-12-13 16:22:56 · 6 answers · asked by yakrafter 2 in Business & Finance ➔ Renting & Real Estate
Most areas have not hit bottom yet, so the price may be even less in a year. However, if you are buying for the long run (buying a "home" and not just an investment to sell), buy now - rates are good and you may be able to negotiate a good price
because of the weak market.
Best wishes and good luck.
2007-12-13 16:33:20 · answer #1 · answered by Doctor J 7 · 0⤊ 1⤋
I personally made a HUGE mistake last fall. I put my house on the market thinking I had plenty of time to shop around and find one that is just right for me.
Denver is booming right now and there are new houses going on the market everyday, and that is what I am looking for a NEW home not a pre-owned home.
My home was on the market for 2 weeks and went into escrow. I had 1 month to be out. I can not say living at the Hampton has been bad, but it is not a home.
I look at homes on weekends when I can get away from my company business long enough. Last weekend I found a WONDERFUL condo downtown in a new high-rise. The asking price is a bit over 2 million. I am doing research on owning this type of property.
Why am I waiting? Because the next one I buy I intend on staying in for longer than the 4 years I was in the last one. I just want to make sure what I find is what I want and not just a passing fancy that I will be tired of in 4 years!
2007-12-14 00:37:43 · answer #2 · answered by Anonymous · 1⤊ 1⤋
I did just buy a house! I close on Monday! wooo hooo!
House was appraised for $315k (originially listed for $400k a year ago), and we're paying $275k, how's that for a deal?? And got a 6% rate on our mortgage, with 20% down, or $55,000. Not bad eh?? This is in Palm Beach County, Florida.
It will probably go down a bit more, but not much, houses are selling still way above this price.
You gotta catch it on the way down, while it's still going down. Otherwise you will miss the botton, how can you possibly know you're at the bottom??? You don't until it's going up!!! And so are the prices, and all the desperate sellers are hopeful!! There goes your steal.
Think about it people!!!
2007-12-14 11:36:13 · answer #3 · answered by Grisham 3 · 1⤊ 0⤋
Waiting to retire, my house is near work but I want to retire 90 minutes farther away and don't want the commute so will wait until I retire in about 2 more years.
2007-12-14 00:34:14 · answer #4 · answered by shipwreck 7 · 0⤊ 1⤋
Its not the right time for my fiancee and I. We are both in school (I'm finishing my bachelors and my fiancee just started law school). We don't need to add home maintenance to studying!
2007-12-14 00:31:49 · answer #5 · answered by Lauren P 4 · 0⤊ 1⤋
i own three houses. is that not enough for u?
2007-12-14 12:15:53 · answer #6 · answered by ab dominance 5 · 0⤊ 0⤋