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04-21-2009, 09:42 AM
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Senior Member
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Join Date: Apr 2009
671 posts, read 246,248 times
Reputation: 92
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A freind once told me "When you buy a house, you are only buying a mailbox".
In many ways, I believe this is true.
Now that real estate has gone up and down, nothing has really changed. Good neighborhoods are still good, bad neighborhoods are still bad and most of it is somewhere in the middle.
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04-21-2009, 01:54 PM
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Senior Member
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Join Date: Sep 2007
1,185 posts, read 709,856 times
Reputation: 209
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One tip I was told when buying my first home was to buy it knowing that I may be there the rest of my life...even if I thought it would only be my "starter" home. You can never plan for the unexpected.
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04-21-2009, 01:58 PM
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Real Estate Agent
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Join Date: Aug 2007
Location: East Northport, NY
1,886 posts, read 1,374,627 times
Reputation: 238
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Quote:
Originally Posted by Jrprofess
One tip I was told when buying my first home was to buy it knowing that I may be there the rest of my life...even if I thought it would only be my "starter" home. You can never plan for the unexpected.
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This is absolutely correct. I bought my "starter house" at the end of 1988. I can tell you the exact day that the real estate market peaked in the 80's - it was the day that I closed! During the early 90's I was underwater on the house, I couldn't sell it for enough to pay off the mortgage (sound familiar?). Anyway, twenty years and two kids later, we are still in our "starter house" and I couldn't be happier. |
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04-21-2009, 03:54 PM
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Junior Member
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Join Date: Dec 2007
9 posts, read 5,904 times
Reputation: 12
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Quote:
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I dont have kids YET, but looking to buy...
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Well then you can buy my kids. I'll sell them to you cheap.  |
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04-21-2009, 04:02 PM
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Senior Member
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Join Date: Jan 2009
836 posts, read 351,579 times
Reputation: 68
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Quote:
Originally Posted by Jrprofess
One tip I was told when buying my first home was to buy it knowing that I may be there the rest of my life...even if I thought it would only be my "starter" home. You can never plan for the unexpected.
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very true. Just one more thing you have to keep in your head while making such an important and sometimes stressful decision...lol. |
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04-21-2009, 06:04 PM
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Senior Member
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Join Date: May 2008
259 posts, read 132,907 times
Reputation: 22
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Quote:
Originally Posted by Elke Mariotti
Fannie/Freddie Mac limit is $417K. The higher limits are temporary and really just for designated high cost areas - for obvious reasons, Long Island qualifies  . At this time, the higher limits are expected to be in effect for 2009, but who knows? Could be over sooner, or if we're lucky, be extended into next year  |
Thanks Elke |
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