Comments on: Should You Buy a Home Right Now?

By: lady of jane

lady of jane — Sat, 06 Feb 2010 01:58:45 +0000

I need to downsize out of my family home after a divorce since I can’t make the 30 yr payment alone. Should I buy now or wait? I could live with my daughter for a year and see what happens. LofJ

By: rolex-watches-shop.com

rolex-watches-shop.com — Tue, 12 Jan 2010 09:46:14 +0000

I have no money now,can’t buy home!

By: jaeleahlow

jaeleahlow — Fri, 06 Nov 2009 05:38:26 +0000

sres likely galactic ruddiman

By: Thomas Drozd

Thomas Drozd — Sun, 27 Sep 2009 15:54:01 +0000

A great article! All the main themes about good and bad are outlined but ther remains one key factor.
Most of us want a home to raise a family and though times are tough the time to buy is now. Already there are great values in home price declines and interest rates are low. Even though there is great debete over the current status of the economy and unemployment, the time to buy is now!
The key is how you pre-qualify for a mortgage and what your current credit status is. Get this done first before you check out homes. The emotional rollercoaster begins if you start looking for homes and fall in love with something you can’t afford or could not qualify to purchase inthe first place.
The biggest factors in getting a mortgage now is your awareness of problems within your credit report, proving income, having assets and being able to make the payments. Even though everyone talks interest rates, you don’t know what you qualify for until these items are put together in an application.

By: Ronald Greenwald

Ronald Greenwald — Sat, 22 Aug 2009 23:36:41 +0000

Buying a Home – Many factors going into that decision. Lifestyle, money, income taxes, cash flow, 1 year plan, 5 year plan, etc. plus lots of EMOTION…. The first thing is you have to live somewhere. Then is to look at the R.I.C.E….Reserves, Income, Credit, and Equity (downpayment)….Is this the right time – It may be for YOU!

By: Zach

Zach — Wed, 24 Jun 2009 23:41:24 +0000

That article rocked. Especially the illusion of a deal. It is true, comparitively speaking prices are way down, but they are also probably right around where they should have been in the first place years ago during the bust.

By: w_aspiration

w_aspiration — Wed, 27 May 2009 19:53:48 +0000

I agree if you live in an expensive neighborhood, you may be better off by renting. Not only that, instead of using the money for down payment, mortgage, property tax, and maintenance of a house in expensive area (eg: West Hollywood or San Francisco), you can invest that money to buy residential rental in different area, or maybe out of state, and pocket cash 6%-10% every year. Especially right now, you can find many houses that are 70% off from the peak and houses that cost less than their construction cost (you get the land for free).

This article will open your mind: http://wealthaspiration.blogspot.com/2009/05/when-renting-is-smart-financial.html

By: Cali

Cali — Mon, 18 May 2009 06:36:42 +0000

PS the low rates are what got us into this mess. What happens to the housing prices when the rates jump to a normal 7-8% range. You got it, the prices go down….

By: Cali

Cali — Mon, 18 May 2009 06:29:59 +0000

Socal still isn’t cheap. Any place you would want to live, is still pretty expensive. If your looking for something cheap and looking Inland you will be living with Gang Bangers everywhere and guns going off every ten minutes.

If you look towards the beach, your still paying 500k plus, for a 1500 sq ft home that front the street and backs a brick wall out your kitchen window. Not to mention the HOA’s and Mello Roos. In Irvine’s Woodbury you can buy a two story 1035 sq ft condo for 550k, with a $300 per month HOA where everything is cloned to look the same.

Reality is, the banks are on to the repo’s and short sales. Say they have a home in an area that ranges around 500k. They put it up for sale at 250k and then begin a bidding war with all the crazed buyers. They say it’s a closed bid but every time an offer is submitted, they tell you on the sly, if you want it you will have to go higher. Then there is the “highest and best” gig, that they give you five times until the price is up to 550k and some sucker thinks they have just bought the Trump Plaza out from everyone.

If you really want a good deal, get your real estate license and sit at the front desk of some sap real estate company. When a desperate buyer comes in, tell them you have an investor to buy it asap. Then buy it before anyone finds out, then quit.

Reality Real estate in 2009.

By: Kent F

Kent F — Sat, 18 Apr 2009 19:01:18 +0000

Yes, it is impossible to time a market bottom. But, with low int. rates and the new Obama $8K credit, activity is increasing in Texas.