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Old 10-21-2008, 02:48 PM
 
Location: Charlotte
52 posts, read 119,090 times
Reputation: 23

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Rates are so low, Sellers are willing to deal........
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Old 10-21-2008, 02:55 PM
 
Location: "The Gorge"
905 posts, read 3,065,294 times
Reputation: 712
Quote:
Originally Posted by LJ Charlotte View Post
Rates are so low, Sellers are willing to deal........
I would hold off because I don't think we have hit bottom yet.
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Old 10-21-2008, 03:18 PM
 
1,117 posts, read 2,454,662 times
Reputation: 1051
....because if I lose my job in this economic downturn, paying a higher mortgage would be irresponsible......I get your point, though.
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Old 10-21-2008, 03:27 PM
 
Location: Charlotte, NC
311 posts, read 811,198 times
Reputation: 93
because interest rates are NO good right now and a lot of credit markets are frozen, though they are starting to let up...
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Old 10-21-2008, 05:24 PM
 
Location: Huntersville
1,521 posts, read 4,478,827 times
Reputation: 298
Quote:
Originally Posted by HomeSweetHomeNY View Post
because interest rates are NO good right now and a lot of credit markets are frozen, though they are starting to let up...

How much lower do you want them to go?
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Old 10-21-2008, 05:37 PM
 
Location: State of Being
35,885 posts, read 67,065,320 times
Reputation: 22371
Quote:
Originally Posted by HomeSweetHomeNY View Post
because interest rates are NO good right now and a lot of credit markets are frozen, though they are starting to let up...
HomeSweetHome - you must be a Gen X'er cause your momma would tell you. . . the rates of the last few years are the lowest in about 50 years . . . and none of us ever expected to see anything below about 7.5 in our lifetimes.

So that just ain't right.
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Old 10-21-2008, 05:38 PM
 
Location: Living near our Nation's Capitol since 2010
2,177 posts, read 2,910,383 times
Reputation: 5846
There is NO way I would buy now. My investments are in the tank, my employment is questionable, my savings are precious and I do not think the housing price bottom is near.

My sympathies to those selling now and to realtors. Its just not the safe time for most of us to buy.
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Old 10-21-2008, 05:46 PM
 
Location: Lake Norman, NC
7,183 posts, read 11,209,376 times
Reputation: 30741
We were teased a few weeks ago looking at new construction over in the Concord area. The builders rep offered us upgrades like crazy, a low ball price on their house, they offered a contingent contract for us to sell ours, and they said we could make an offer and the builder would seriously entertain it. Wow!

We plan to downsize in 2 or 3 more years, but we can't do anything until then. Otherwise, I'd be all over the contingent purchase contract right now.

Heck, we have a mortgage payment already and the house we looked at would be the same or less each month. So, it would be a great deal for us. Not to wish my life away, but I feel a little sad that we can't wish these next two years to fly by.

Last edited by Stripes17; 10-21-2008 at 05:46 PM.. Reason: clarity
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Old 10-21-2008, 06:11 PM
 
Location: Mostly in my head
19,820 posts, read 55,857,901 times
Reputation: 19007
Quote:
Originally Posted by HomeSweetHomeNY View Post
because interest rates are NO good right now and a lot of credit markets are frozen, though they are starting to let up...
Ahh, the youth of today! I remember when rates were more like 15%.
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Old 10-21-2008, 06:24 PM
 
5 posts, read 6,264 times
Reputation: 14
I've been debating the same thing over the past few months. My final decision was to put the money in the market. The market will rebound faster than home prices and I can use the extra money made in the market for a larger downpayment.
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