Median price for Phoenix house goes up to $450,000 (loan, buying a home)

[john3232]

Originally Posted by DetroitN8V

It wouldn't be easy, sure, but it's not impossible. First time homebuyer grants, seller concessions. Saving a bit more would be advisable but I thought at the last go-around you had more to work with and were only refusing to part with it because of PMI.

Get pre-qualified, clean up the credit score, have an RE agent send MLS feeds to zip codes you want to buy in. Tailor the searches: size, bedrooms, bathroom ect. lot size.

I was able to snag three short-sales properties in 2010-11 by getting skype number and putting the phone by my bed (lived overseas.) I also had an excellent RE agent. After visiting a property if he thought it a good deal he was to call me. Forget about the time difference. Offers had to be made immediately. If my cell phone rang while I was teaching I told the class it was the dentist/doctors office calling and I had to step outside for a moment. I lived like this for a year.

With the sharks out in full force it was feeding frenzy. Everyone trying to nap $130k homes. Homes which peaked in 2006 - 375k range. (Today worth almost 500k.)

I couldn't be present in AZ to sign docs. so I had to go to the US Embassy and have the docs notarized. Which meant taking time off work. Not something you want to do when you have zero job security. If I had to fly to the US to sign a doc (equity loan) I grabbed a midnight flight, did the signing the afternoon I arrived and left the US the next day.

People warned me against buying in 2010. Telling me I was crazy to double down after buying in 2005. However, I was confident the homes bought in 2010-11 would go up. Not sure how much but almost enough to cover what I would lose if I sold the 2005 homes. But I sold nothing... and today?

Today it's pretty much all peaches and cream.

[john3232]

Originally Posted by burning madolf

now we can add bad international economic/housing takes to your resume. The grass is always greener.

The fed has been flooding our market with easy money, especially for mortgages, for years and you've failed to take the necessary steps to buy and been afraid to pull the trigger. But what we really need is some british style housing because they are just like us. Again,
one thing is for sure, when you do buy, it will probably be the greatest indicator that we're at the top.

lol!

[FirebirdCamaro1220]

Originally Posted by Burning Madolf

Now we can add bad international economic/housing takes to your resume. The grass is always greener.

The Fed has been flooding our market with easy money, especially for mortgages, for years and you've failed to take the necessary steps to buy and been afraid to pull the trigger. But what we really need is some British style housing because they are just like us. Again,
One thing is for sure, when you do buy, it will probably be the greatest indicator that we're at the top.

I'm also not a boomer like most of you, you guys were probably already in the workforce when I was in nursery school, so you all (Prickly Pear being an exception, since she's younger than I am) had a huge head start on me, and had lower property prices when you were in your 20s&30s

[FirebirdCamaro1220]

Originally Posted by Sno0909

How would this help you purchase a home?

Think of it as a relief valve, it lowers the amount of people looking for private apartments, which would lower rental prices, which would allow people to save faster

[apple92680]

Originally Posted by FirebirdCamaro1220

I'm also not a boomer like most of you, you guys were probably already in the workforce when I was in nursery school, so you all (Prickly Pear being an exception, since she's younger than I am) had a huge head start on me, and had lower property prices when you were in your 20s&30s

Exactly!

Same generation that wants to jack up the prices on everything while simultaneously cutting the social safety net. Mind you, as toddlers, teens and young adults, the Boomers vastly benefited from New Deal legislation and its strong social safety net, which enabled their parents to leave them a legacy.

The Greatest Generation ended up birthing the Cruelest Generation. Sad irony there, isn't it?

I'm a Gen Xr. Some of the best conversations in my life have been with Silent and Greatest Generation. The Boomers, on the whole, are the most obtuse, insecure, spoiled and self-absorbed people to have ever walked the planet.

[apple92680]

Originally Posted by FirebirdCamaro1220

Think of it as a relief valve, it lowers the amount of people looking for private apartments, which would lower rental prices, which would allow people to save faster

You actually have to school a RE agent on the macro-economics of her own field...sad!

Not obtuse at all...

[thinkalot]

Originally Posted by FirebirdCamaro1220

I'm also not a boomer like most of you, you guys were probably already in the workforce when I was in nursery school, so you all (Prickly Pear being an exception, since she's younger than I am) had a huge head start on me, and had lower property prices when you were in your 20s&30s

And mortgage rates between 10% and 16%. And 1980 wages on top of that.

[MN-Born-n-Raised]

Originally Posted by apple92680

Exactly!

Yea! The millennials cannot afford to buy homes when things are so expensive! And the evil main steam media is lying too. See how they lie! lol Here is the truth https://www.wsj.com/articles/millenn...rs-11598543344

"The group, long viewed as perennial home renters, is now emerging as a driving force in the U.S. housing market’s recent recovery".

[FirebirdCamaro1220]

Originally Posted by thinkalot

And mortgage rates between 10% and 16%. And 1980 wages on top of that.

Still lower prices, my old man bought his first house in 1980 for only $50k, and he was making $50k per year at the time

Try finding a house that only costs one years salary in a metro area today

[Burning Madolf]

Originally Posted by FirebirdCamaro1220

I'm also not a boomer like most of you, you guys were probably already in the workforce when I was in nursery school, so you all (Prickly Pear being an exception, since she's younger than I am) had a huge head start on me, and had lower property prices when you were in your 20s&30s

For the past 20-25 years or so the Feds have made it unbelievably easy to get a mortgage, probably in history.
You can't or won't borrow.
You want the government to get even more involved.
You want to copy the British model or some such nonsense.
And, when you can't think of anything else, out comes the straw man "boomers are to blame" for your lack of intestinal fortitude to buy.

All the while you sit at home watching the market pass you by.