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If you are thinking about buying check out a new program that is available through some of the Mortgage Brokers. It is a policy you buy for about $500 and if you are layed off your job they will make your house payments for 6 months.
Also, coming with the new stimulas bill is the $15,000 credit to home buyers! To say nothing of interest rates being soooooooooooooo low! There are also programs for other buyers. Check it out!
Yeah it is a good time to buy a house!
Ellen, you're a realtor. When have you ever said its "not" a good time to buy a house? I mean really...
2 years ago, the NAR website on their website (and many realtors) were touting that home values increase every 6 years on average. (remember that little doozy?)
They promptly took off that screen when housing started to tank.
If you are thinking about buying check out a new program that is available through some of the Mortgage Brokers. It is a policy you buy for about $500 and if you are layed off your job they will make your house payments for 6 months.
Also, coming with the new stimulas bill is the $15,000 credit to home buyers! To say nothing of interest rates being soooooooooooooo low! There are also programs for other buyers. Check it out!
Yeah it is a good time to buy a house!
You have to be kidding. I did get a chuckle out of your sarcasm!!!
Ellen, you're a realtor. When have you ever said its "not" a good time to buy a house? I mean really...
2 years ago, the NAR website on their website (and many realtors) were touting that home values increase every 6 years on average. (remember that little doozy?)
They promptly took off that screen when housing started to tank.
No not really. The last commercial I heard within the last couple of months said RE on average, doubles ten years. Looks like they are 'updating' the drivel, hoping no one notices...
It seems like a good time to buy. I'm a little concerned with mortgage interest rates creeping up this past week. I was approved for 5.25 last month. I don't know if that will be the case next month. One thing that concerns me about buying in the future is interest rates rising when inflation starts rising, and it will. Mabey housing prices will drop another 5-10% but at too high interest rates, what's the difference?
You need to look both ways before you cross this street. If you strickly focus on interest rates, you are going to get creamed big time. Ouch.
You need to look both ways before you cross this street. If you strickly focus on interest rates, you are going to get creamed big time. Ouch.
Of course it's not a matter of only looking at interest rates, I just wouldn't get myself into an 8-10% interest rate situation and I'm keeping that in mind.
Location: Halfway between Number 4 Privet Drive and Forks, WA
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Funny. I bailed from my last agent for a very similar reason. When rates dropped to 5.5% range a few months back she called me and told me about the rates. I told her I know about the rates and said that I am not going to buy a house just because rates are low. She said we have to find you a house even though we have looked at EVERYTHING in the market already. Then we got into a debate about rent vs buy and how not buying is stupid since I am throwing money away in rent. She said and I quote "it is ALWAYS better to own then rent". That was when I was sure I was kicking her to the curb.
No offense but you probably did her a favor. If I'd shown you everything on the market, and you weren't putting in serious offers, I'd say you were a tire kicker and NOT a serious buyer. If I were you, I wouldn't go looking at houses with realtors until you're ready to get off that fence, which is obvious you are not. Otherwise you're wasting other people's uncompensated time. I make that observation as a non-realtor.
You say sellers are overpriced and I think you seem frustrated because prices are not where you want them to be NOW. Maybe you should rethink buying a house for the time being and not be so stressed about it. You might do yourself a favor by stepping back for awhile. (And I say this with no sarcasm at all, please believe me...)
If now is not a good time to buy a home-can someone tell me when (in this decade) it was a good time to buy and give justification as to why?
Bill
A good time to buy is when employers start hiring in your area. Regardless of how stable your job is, when it comes time to sell, you need to have a buyer with a stable job to take it off your hands.
Using that logic, this chart indicates that the best time to buy this decade was ~31 months into the 2001 recession.
swimming freestyle: This chart is guaranteed to wreck your weekend (http://www.swimmingfreestyle.net/swimming_freestyle/2009/02/this-chart-is-guaranteed-to-wreck-your-weekend-.html - broken link)
Funny. I bailed from my last agent for a very similar reason. When rates dropped to 5.5% range a few months back she called me and told me about the rates. I told her I know about the rates and said that I am not going to buy a house just because rates are low. She said we have to find you a house even though we have looked at EVERYTHING in the market already. Then we got into a debate about rent vs buy and how not buying is stupid since I am throwing money away in rent. She said and I quote "it is ALWAYS better to own then rent". That was when I was sure I was kicking her to the curb.
I had one real estate agent tell me in an email 'as history has shown real estate prices always go up.' I almost choked on my coffee when I read that. I was like hello did you just not see the 15,000 dollar price reduction on the house listing you just sent me, LOL. And the price declines nationwide! And even if you don't count this, historically real estate does NOT always go up! Ughhhh. I was so angry when I read that.
Anyway on the flip side the other realtor I know, emailed me asking me if I wanted to see any houses. I told him we won't be buying for awhile bc of the market. He actually agreed and said 'yes now is not the best time to buy.' I was surprised!
I think it is a credit. The 7,500k interest free loan would be replaced with a credit providing the stimulus passes. That's what I've been hearing at least.
Everything I have heard has said credit not loan. Check out the article on NARs website published just a couple of days ago.
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Yeah me too
