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Old 02-12-2011, 02:35 PM
 
Location: Bettendorf, IA
446 posts, read 1,223,569 times
Reputation: 199

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Quote:
Originally Posted by LynchburgLover View Post
Okay . . . keep waiting and throwing that rent money away. Did you see this in the Wall Street Journal?
Why You Should Buy that Home Now - SmartMoney.com
It seems the only people who will be able to buy a house are the ones who can actually afford to.
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Old 02-12-2011, 04:34 PM
 
Location: The South
3,897 posts, read 5,346,273 times
Reputation: 2744
Quote:
Originally Posted by scimitar12 View Post
It seems the only people who will be able to buy a house are the ones who can actually afford to.
Well, isn't that a novel idea! LOL
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Old 02-12-2011, 05:02 PM
 
Location: Alexandria, VA
11,383 posts, read 20,186,364 times
Reputation: 16371
Quote:
Originally Posted by LynchburgLover View Post
Well, isn't that a novel idea! LOL
EXACTLY!! Don't buy a house you can't afford, DUH.
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Old 02-14-2011, 07:51 AM
 
Location: Censorshipville...
2,694 posts, read 6,245,939 times
Reputation: 1547
Here's a another feel good story: WTOP.com - Washington, DC News, Weather & Traffic - WTOP.com - Homebuying, hiring rates signal good news for D.C. area

I've seen the statistics for my zip codes and the sale prices have been steadily going up year after year. Less homes are selling, but they are selling for more. The sale price is around 96% of the list price as well, so don't expect a 30% lowball offer will get you that home...
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Old 02-14-2011, 08:12 AM
 
5,121 posts, read 5,540,803 times
Reputation: 5800
Bah! Quit posting why I should buy now... I want to buy now. I just haven't found the right place yet

Home sellers need to put their houses on the market for me (especially you folks in Burke) and you other buyers need to stay away from my house wherever it is .

Okay, in all seriousness, I wonder how many buyers, like me, are waiting in the wings--not for better prices so much as better selection. I keep hoping March brings more houses to the market. I know it won't be like the old days of multiple bids on a house in a day, but I really think the good houses will go fast, but I bet there will be offers and counter offers. I kind of see things as balanced right now--expect that I wish there was more inventory.
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Old 02-14-2011, 08:35 AM
 
Location: Washington DC
487 posts, read 1,209,989 times
Reputation: 516
I'm in the same boat Jillabean
Looking for the right house. And Im looking in an entirely different area so I think we can officially designate Burke as your area.
I'm also wanting prices to remain stable while I look.
Lord knows interest rates are climbing and that effects what I can afford.
Anybody who thinks high interest rates wont put a lid on what homes people can afford is living in fantasy land.
Its working on me right now.
Another thing I worry about is the impact that the the Federal hiring freeze and the Federal 5 year pay freeze will have on home prices.
The flood of new people into the area will turn into a trickle.
I'm already seeing the "Help I'm new here Where should I live" posts on this forum starting to dry up.
I suppose there is some pent up demand from people like myself who have been renting for the last few years and are now ready to buy.
Anyway I hope you find that perfect home in Burke soon.
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Old 02-14-2011, 08:46 AM
 
Location: Censorshipville...
2,694 posts, read 6,245,939 times
Reputation: 1547
Here's something else to consider: White House's Unwritten Mortgage Memo: Act Now - FoxBusiness.com

I really don't see the pay freeze affecting purchasing. That pay freeze doesn't affect step increases, so you can still technically get a raise within your GS level. Also not all agencies are on a hiring freeze. I just came on board in January, and there were 12 other folks in my orientation. I've also heard that a new engineer was just sent an offer letter. Looking at our website, there are 7 positions open too. Also BRAC will bring a lot of folks into the area.

I really feel confident in our local economy.
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Old 02-14-2011, 08:50 AM
 
Location: Everywhere and Nowhere
14,131 posts, read 27,037,127 times
Reputation: 6824
March-May are really the best times to be house shopping around here as far as selection. Try working with some realtors who specialize in the neighborhoods you're interested in. They'll sometimes give you heads-up on properties about to go on the market that fit your requirements.
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Old 02-14-2011, 08:58 AM
 
Location: northern Virginia
204 posts, read 591,054 times
Reputation: 120
Jillabean, I am also looking to buy a home and agree that there is not much on the market at the moment in the neighborhood and the price range I want. In addition to that, I own a home and am going to put it on the market soon. So I am on both ends - a home-seller holding off on listing, as well as a home-buyer looking for more available homes. (sorry I am not in Burke).
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Old 02-14-2011, 09:02 AM
 
Location: Washington DC
487 posts, read 1,209,989 times
Reputation: 516
Quote:
Originally Posted by oneasterisk View Post
Here's something else to consider: White House's Unwritten Mortgage Memo: Act Now - FoxBusiness.com

I really don't see the pay freeze affecting purchasing. That pay freeze doesn't affect step increases, so you can still technically get a raise within your GS level. Also not all agencies are on a hiring freeze. I just came on board in January, and there were 12 other folks in my orientation. I've also heard that a new engineer was just sent an offer letter. Looking at our website, there are 7 positions open too. Also BRAC will bring a lot of folks into the area.

I really feel confident in our local economy.
Well those are certainly encouraging observations.

I'm happy to hear about the steps.

Hopefully these are indicative of things to come and not just the final filling of some previously approved openings.

Clearly not every agency will be impacted the same.

And on reflection I agree that the pay freeze probably wont impact home prices.
But I still worry about the rollback in hiring and how that may impact the real estate supply and demand equation.
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