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Their is so much gloom and doom out there that every time I turn on the news my heart sinks. I know that buyers are listening to this and having second thoughts and we are losing more buyers out there when we desperately need more buyers. Personally I would much rather have my money put towards a home than in the stock market!
It is really hitting us hard because we have a commercial lot and lets face it people aren't running out to start building new businesses! We can wait this out but we aren't getting any younger and really want to move on in our lives but things look like it is going to take longer to turn things around than previously thought. We will be buying again as soon ( if ever ) our place sells and I have no qualms about purchasing a home asap. I know a lot of people say to wait but I don't look at buying my next home as a business investment it is going to be my home to live in. I don't want to rent and have to move again and besides I have owned my homes for so long I don't want to go that route. We don't plan on selling our next home ( I would NEVER go through this selling mess again) and I think a lot of people who are fence sitters are so worried about getting a "deal". They seem to forget the most important thing, that this is going to be their home and is it worth sitting it out to lose the home they really want their family to live in? I know for a fact homes are selling as quite a few of the homes I really liked are gone and believe me if I had this one sold I would have bought one of those in a heart beat and I now would be enjoying my new home instead of acting like "Chicken Little" and waiting for the sky ( home prices) to fall! Sorry this is so long but I had to vent today I guess.
Oh and by the way the mobile home that was my parents hasn't sold either and we have lowered the price once this month alone with plans on lowering it again at the end of this month! The Realtor told us they are not getting people even calling to see places and this is in a 5 star rated park where you own your own property and is very desirable ( or I should say was before this housing mess) so this will be the sixth time we lowered the price in total. As soon as someone lowers their price in the park another one goes lower. Pretty soon we will be putting out a "FREE" sign at this rate!
Rothbear I didn't get all the details other than they HAVE to qualify with credit scores, debt ratio and employement. I "think" it is geared towards people that are qualified without the hugh down payments.
Gee I heard on FNC this morning that everyone will need at least 20% down. I could be wrong or they good be wrong. What a mess that was created by the subprime market. Interst only loans, 0% down, no source of income required. It just never made any sense to me. My daughter and SIL when they wanted a second and had a first interest only loan they asked to get a 30 year fixed they then were told by the lender that they were better off with the interest only loan but he gladly gave them the 2nd. Their home at that time was worth in the high $500's it is now worth in the low $400's and down the street there is one forclosure going for $359,000 and one just went on the market for that same am't. Same home as my daughter's house. I have no idea what they will do when the interest only stops in about a year since they owe over $175,000 more then the house is now worth.
I am just praying for them to somehow be able to make the house payments.
Judy, Vent away! I know that we've all been there or are there and can relate. I totally agree that people should be looking for "homes" and not "investments" when they are buying. We ended up buying a house in TX before our house in ID sold. I just wanted a home to live in. We got a good deal but we certainly didn't lowball or act unreasonable when negotiating. I think if we hadn't had to sell due to a move out of state we would have just given up and taken it off the market. It was just too stressful.
Pretty soon we will be putting out a "FREE" sign at this rate!
Sometimes I won't if that isn't what they are waiting for. Hey....come take this off my hands. That's one of the main reasons I am totally dreading this garage sale. I have things marked for pennies on the dollar and I just KNOW they will want to bargain even more. I just HATE it! We have gotten to the place that hubby doesn't even go and put up the signs until about 5 minutes before opening because all we get are a bunch of little old men with nothing else to do (I think their wives throw them out of the house for some peace) and the first thing out of their mouth is "will you take less for this, how about 50% off if I take these two, etc. etc." And this is even before we have even been open 30 seconds!! Oh and then you have to be on your toes for the theives as well. Had some little old lady totally lie directly to my face at one of my mother's garage sales one time. Said she paid my mother and she didn't. Or the tons of little kids who when you look at them they have such a guilty look on their face that you KNOW they were going to steal something until they saw you watching them. UGH.....
Well, I just finished uploading a bunch of Windows updates, so now I have to reboot and see if it screws up my internet connection again. I may have to end up getting rid of the Avast antivirus and put AVG back on. Another UGH......
Judy, Vent away! I know that we've all been there or are there and can relate. I totally agree that people should be looking for "homes" and not "investments" when they are buying. We ended up buying a house in TX before our house in ID sold. I just wanted a home to live in. We got a good deal but we certainly didn't lowball or act unreasonable when negotiating. I think if we hadn't had to sell due to a move out of state we would have just given up and taken it off the market. It was just too stressful.
Is it too early for a drink???
TYVM IDtoTX, I do alright most of the time but some days it just really gets to me! I am trying hard not to stress today. I know it will happen in Gods time not mine but sometimes I get so tired of waiting! Patience has never been my strong suit lol! Well I am off to get a glass of wine because as dogmom says " it's 5 o clock somewhere!"
Sometimes I won't if that isn't what they are waiting for. Hey....come take this off my hands. That's one of the main reasons I am totally dreading this garage sale. I have things marked for pennies on the dollar and I just KNOW they will want to bargain even more. I just HATE it! We have gotten to the place that hubby doesn't even go and put up the signs until about 5 minutes before opening because all we get are a bunch of little old men with nothing else to do (I think their wives throw them out of the house for some peace) and the first thing out of their mouth is "will you take less for this, how about 50% off if I take these two, etc. etc." And this is even before we have even been open 30 seconds!! Oh and then you have to be on your toes for the theives as well. Had some little old lady totally lie directly to my face at one of my mother's garage sales one time. Said she paid my mother and she didn't. Or the tons of little kids who when you look at them they have such a guilty look on their face that you KNOW they were going to steal something until they saw you watching them. UGH.....
Well, I just finished uploading a bunch of Windows updates, so now I have to reboot and see if it screws up my internet connection again. I may have to end up getting rid of the Avast antivirus and put AVG back on. Another UGH......
I do think they want it for free and then would ask if the furniture comes with it lol!
I know what you mean about garage sales, you certainly get all kinds that's for sure! Talk about people who want something for free lol! Come to think of it I wonder how many of them are sitting on the fence waiting to buy a home!
I use to have Avast and had nothing but trouble with it. I downloaded the new version of AVG and so far have been happy with it.
I am afraid to vent because I won't beable to stop. This whole thing with the market and some of the threads here really really makes me angry. Does it only makes sense to me or am I just really stupid here-IF everyone stops buying, investing, shopping whatever waiting for things to bottom out then how the hell is anything going to survive. People waiting on prices to drop, or rates or till joe blow says buy how is anything going to improve. I think that people need to live their lives as always, maybe save abit more granted, but if money is not being spent then how will the economy gain strangth? The other thing I am tired of hearing is Oh it is always bad before the presidential elections, What does that really have to do with it? Say okay if a Demo. gets elected we will buy stocks and frosted flakes but if a Rep. gets elected we buy gold and corn puffs? Geeze louisss
I am afraid to vent because I won't beable to stop. This whole thing with the market and some of the threads here really really makes me angry. Does it only makes sense to me or am I just really stupid here-IF everyone stops buying, investing, shopping whatever waiting for things to bottom out then how the hell is anything going to survive. People waiting on prices to drop, or rates or till joe blow says buy how is anything going to improve. I think that people need to live their lives as always, maybe save abit more granted, but if money is not being spent then how will the economy gain strangth? The other thing I am tired of hearing is Oh it is always bad before the presidential elections, What does that really have to do with it? Say okay if a Demo. gets elected we will buy stocks and frosted flakes but if a Rep. gets elected we buy gold and corn puffs? Geeze louisss
I just don't get why people (buyers) would put their life on hold, waiting for prices to drop MORE??!! Or for the media to say consistently that it's a good time to buy a house? Or even what person will be elected. Life is too short for that stuff. Maybe it's me but when we decided to move it was because WE were ready, not the media, president, or the country.
That is what I am saying. You know when I was a young and my parents decided to sell & move there was no talk about the market. They stuck a sign out front, sold and moved, the end. They did not watch 5 newscasters, have the Net, or even dealt with a realtor, they just went to the bank. I have bought and sold afew myself and I did it the same way my folks did, stick the dang sign in the yard and go buy another. Maybe just maybe if we all went back to simpler ways of life things would improve. I bet we even see Drs going under on their Mcmansions then!!
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