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Is it time to buy a house? [Archive] - RonFez.net Messageboard
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Thomas Merton
03-29-2009, 02:13 PM
Has the market bottomed out in your area of this great country?

I think its the perfect storm: interest rates under 5%, prices down and the $8,000 tax credit

Sold my old house in 05, took a year off to lick a bad marriage wound and have been scared to become a homeowner since
Tenbatsuzen
03-29-2009, 02:29 PM
Has the market bottomed out in your area of this great country?

I think its the perfect storm: interest rates under 5%, prices down and the $8,000 tax credit

Sold my old house in 05, took a year off to lick a bad marriage wound and have been scared to become a homeowner since

You just want to make sure you're eligible for the credit. I'm pretty sure since you haven't owned a home in 3 years you qualify but just make sure.

I personally think this is the time to buy. Everyone is starting to lock down and become more aware of what's happening. As long as you are secure in your employment, I would buy. I would also make sure that you have enough to cover payments if you're laid off - an emergency fund.

My biggest recommendation is to make sure the home has resale value after the fact. That means investigating schools, tax rates, etc.
Jughead
03-29-2009, 02:49 PM
Never been better......Never...
Death Metal Moe
03-29-2009, 02:52 PM
My buddy has been trying to sell for half a year at least.

With all the shit he's gone through, I'd say it's a buyer's market. Pick up real estate now if you have the means.
ihaveabadmonkey
03-29-2009, 02:57 PM
i sure hope so, i just made an offer on a place.
Thomas Merton
03-29-2009, 04:15 PM
You might have my favorite board name, Monkey
Drunky McBetidont
03-29-2009, 04:21 PM
my wife and i are looking at a four bed three bath. guy let it go to the bank repo and back-taxes. should be able to get it from hud for under $80,000 and its clone is on market at $215,000.
cougarjake13
03-29-2009, 04:43 PM
im looking to buy a house by the end of the year if not sooner
nixonfingers
03-30-2009, 02:03 AM
Well, I've heard that the experts don't think we're at the absolute bottom, but as others have said , if you can afford it and can get a mortgage go for it.
Tenbatsuzen
03-30-2009, 03:33 PM
Well, I've heard that the experts don't think we're at the absolute bottom, but as others have said , if you can afford it and can get a mortgage go for it.

The "bottom" really means nothing. You're essentially renting your house for the first 10 years you're in it anyway, just paying the bank interest and getting a tax break.