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IMHO "The right time to buy" is relative. It's a great time to buy if you were needing a house anyway... but it is not the right time to buy for me personally. I am a renter for the time being, having sold my house in fall of '07. I get told all the time by people who know I'm renting, "but now is the time to buy!". I liken that to buying something just because it's on sale and you don't really need it, or just because you have a coupon for it. Don't feel pressured just because everyone else is doing it. Take a good look at your personal situation, do research, weigh everything. Ask people you trust, and best of all, trust your intuition.
We have a situation where we need something very custom for two home offices. We want to build. But first we need to save a bit more. Our mortgage guy who we've used for three homes and we trust highly, says that great deals will still be found a year from now.
If you own a home now, you could always wait until values are up and you will get a better price for your home. If not, having your money in an interest bearing account could be smarter than putting it into a house that could go down in value.
Much, MUCH better deals coming next year after the 8,000 tax credit expires.
Is stone gate popluar with first time buyers? I would think the price point makes the credit a bit of a non-issue.
FWIW, I think it comes down to your personal situation. However I would have reservations about buying into a community only half built out. Are the ammenities like the pool ect already there?
Much, MUCH better deals coming next year after the 8,000 tax credit expires.
You may be right, but I'm thinking they will renew the credit in line with the other mega-inflationary policies.
Maybe even expand it in size or scope.
Of course NAHB and NAR are pushing for a higher amount, and for all consumers.
Letting it lapse will be too abrupt, much like slamming a door or running into a wall.
Is stone gate popluar with first time buyers? I would think the price point makes the credit a bit of a non-issue.
FWIW, I think it comes down to your personal situation. However I would have reservations about buying into a community only half built out. Are the ammenities like the pool ect already there?
I believe the pool and a playground are already built, but I could be wrong. I drive by that neighborhood a lot and I thought I saw those things. It's a very well taken care of neighborhood, imo. It doesn't look like an eyesore that some neighborhoods look like during construction.
I live about a mile from there. There is a playground but no pool that I'm aware of. Who knows if the values will hold up. Given that neighborhood is still building & selling homes, you would think it will be ok.
If you are planning to stay for 3-5 years you'll probably be OK. In 10 years I would expect to see more neighborhoods in that area. Still lots of open land along Arthur Pierce Rd. which will become too tempting for developers.
Checking out some new construction in southern Cary, specifically MI homes, stone gate community.
Worry is, will values drop in the 5 to 10% range over the next year....
They are only about 40% sold, no real reason to rush...
Hey look! I found the original post!
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