A few questions (Long Beach, Kings Park, Maine: rent, mortgage, credit)

[Pootnami]

Over the past few months I've been thinking about packing my bags and going upstate. I'm sick of the traffic, high prices for homes, and the shopping as a culture mentality. However, I teach in a good paying Nassau school district and so does my wife. We have been both been teaching about five years and it's real tough to leave those kind of salaries. We have been trying real hard to get out of debt and are finally seeing the light. I rent in Long Beach and love it. It's the only place I could live in Nassau. I have a few questions and have followed the board for awhile. There are some insightful people here and I'm wondering if you could help me out with questions.

1. Looking to spend around around 450000 max. In todays market, how much would I need for a down payment? I have about 10000 saved. We net around 7500 a month and that will only get larger down the road. Are monthly bills are around 1200.

2. What do you see happening in the housing market over the next year? I'm getting a bit anxious about missing out on these mortgage rates. My credit is in the 740's.

Thanks for reading my ramble and helping out. I would love to pack it up and move to Maine or Idaho, however, this is where I grew up (Kings Park). My family and friends are here. I do love things about LI. Jones Beach/Long Beach, the food, convenience to the city, high paying teaching jobs (LOL)

TY