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Old 04-13-2015, 11:32 AM
 
4,619 posts, read 9,239,125 times
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Quote:
Originally Posted by MN-Born-n-Raised View Post
Put me in your category of bad at math and foolish. I don't borrow money unless it is for business (because it makes me money).


Being debt free is a wonder feeling AND IMHO, it's incredibly smart to pay cash for a home.
Mathematically it is not incredibly smart but if peace of mind is important to you then it makes sense. When I have completed my wealth building phase and move into my capital preservation phase, paying cash will make sense. If someone is retired or nearing retirement paying cash is better than the "safe" investments you would otherwise be in.
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Old 04-13-2015, 11:51 AM
 
Location: Arizona
6,129 posts, read 7,954,127 times
Reputation: 8272
Quote:
Originally Posted by sandy6879 View Post
All realtors I have spoken with believe that the market will be increasing in price over the next few years as more buyers enter the market (those that foreclosed or short sold their homes are at the point now where they can now get approved to buy again). Rates are still quite low. Your challenges are ones you already pointed out. Finding a home in a non-HOA at that price point isn't easy. Can you go month to month with your landlord? Or can they offer you a 3 month lease rather than a year?
Do realtors ever not say that?

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Old 04-13-2015, 12:48 PM
 
545 posts, read 1,479,095 times
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Quote:
Originally Posted by johnp292 View Post
Do realtors ever not say that?

Indeed. It's always the best time to buy!
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Old 04-13-2015, 02:23 PM
 
Location: Texas
2,847 posts, read 2,494,549 times
Reputation: 1775
Quote:
Originally Posted by johnp292 View Post
Do realtors ever not say that?

Quote:
Originally Posted by brian571 View Post
Indeed. It's always the best time to buy!
Realtors are only interested in a commission whether prices are headed up or down, they have not skin in the game, referring to your buy or sell except the commission, that is just the way it is
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Old 04-13-2015, 03:32 PM
 
Location: Leaving, California
480 posts, read 841,778 times
Reputation: 738
Quote:
Originally Posted by johnp292 View Post
Do realtors ever not say that?

I'm generally with you here, but at the same time, I've had remarkably good dealings with most realtors, and my Mom was in the industry back before the Carter-era 18% interest rates destroyed her business.

I'd say it with the qualification that "some" or perhaps "many" realtors are overly focused on commissions. I'm not even willing to say that most realtors are that way - I perceive lots and lots of professionals there who think more about "this transaction plus the next, plus word of mouth equals reputation."

Here in the Phoenix area, we've had one realtor who was just awful (even making culturally insensitive comments when we took him into a sales office), and two who were awesome.

Plus, I had a great experience with a loan broker who literally told me he'd love my business, but I shouldn't use him because the builder's financing would be so much easier. He said I should call him in 10 years, when he could give me a great deal on a refi. :-)

There are lots of really good people out there. Not everyone's a half step from shyster.
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Old 04-13-2015, 05:41 PM
 
157 posts, read 354,581 times
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I'm waiting for banks to release their "shadow inventory" before I buy...
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Old 04-13-2015, 05:44 PM
 
Location: LEAVING CD
22,974 posts, read 26,904,897 times
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Quote:
Originally Posted by Reedus View Post
I'm waiting for banks to release their "shadow inventory" before I buy...
Uh huh, it'll be a loooooong wait...
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Old 04-13-2015, 07:33 PM
 
Location: Texas
2,847 posts, read 2,494,549 times
Reputation: 1775
Quote:
Originally Posted by jimj View Post
Uh huh, it'll be a loooooong wait...
it is not quite over yet

The ‘State’ of REO at Slight Increase | RISMedia
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Old 04-13-2015, 11:18 PM
 
2,803 posts, read 3,157,053 times
Reputation: 2702
Quote:
Originally Posted by BestintheWest View Post
Did you actually read the article you linked? It talks about states with a judicial foreclosure process, which is not the case in AZ. What is your goal with spreading this misinformation?
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Old 04-14-2015, 12:23 AM
 
428 posts, read 5,881,124 times
Reputation: 353
Well, I'll just throw out there I am one of the many that have profited insanely from the housing bubble. I've watched entry level homes flip from $250k in 2012 to $450k today, and mid-luxury homes go from $800k to $1.2M. I am so grateful I bought when I did, compared to the issues presented to today's buyers. Wages are inching up, and population growth will drive RE up for the coming years and knowing that everyone that refinancing/bought in 2011-2015 has rock bottom interest rates while the new buyers will soon be forced into "normal" 6% rates at our new pre-crisis prices... man that's gotta suck.
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