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Hi All, my 24 year old son will be graduating from MIT and will be stationed at Kirtland AFB this June. He is looking to buy a 3 BR property....preferably newer - either townhouse, condo or low maintenance house. Price range up to $275,000 but prefers closer to $200,000 He wants to be somewhat close to work but in a nice area. He currently is in a hi-rise condo so OK with a condo but would like at least 1750 SF and newer or recently updated property (efficient utilities, granite, etc.)
He is switching realtors as the current person he is working has yield very little and he can work with the USAA relo and realtor group to make the whole process smoother and get a rebate. HE also has a pre-approved mortgage.
Having just sold a house in the NE Heights/La Cueva area for a significant loss, I recommend renting. My realtor says she doesn't think the housing market has reached it's bottom yet, although IMO it's got to be close.
Housing is in a massive state of flux right now. Birmingham, AL is the big loser at a -17% this last year but Orlando is up 9%, much to the irritation of those who were looking to buy houses while they were "on sale."
Though houses are a horrible investment, compared to real investments, buy low and sell high is always a good thing. And now is low.
Though after I finish with the house I'm in, staying in the same school district until my daughter is out of school, I never want to own again.
If I can piggy back on the thread. I am graduating from the Air Force Academy in May and will be stationed at Kirtland starting in august. Any suggestions on where to look for housing?
OP would your soon consider housemates?
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