How are 1st time home buyers doing right now?

User Forum Topic
Submitted by JACKQLYN on October 5, 2009 - 9:53pm

There is a little less than 2 months left for them to qualify for the 8k tax credit.

My husband & I went through obstacle after obstacle this year starting from Feb. to finally closed in Sept.

I'm curious of how my fellow hunters are doing???

ps I love my big piece of $#!T starter home in a good area. The sleepless nights were worth it - hang in there folks.

‹ Is my landlord in default? Sub-contractors repoing their work from developers that dont pay their bills... ›
Here is a Man on the street
Submitted by Nor-LA-SD-guy on October 6, 2009 - 5:46am.

Here is a Man on the street observation for you.

I was passing through O-Side near the back gate Saturday (don't ask), There was this new Richman American housing tract being advertised with sign twirlers so we decided to check it out, there were three sales people in the office and one in the model all busy signing new contracts, and the models were very busy with other customers as well.

The Homes were going for about 500K and were 2500 to 3300 sqf.

Did not bother to ask why they were selling so many that day But I would think it was first time buyers maybe.

JACKQLYN wrote: I'm curious
Submitted by Ren on October 6, 2009 - 8:00am.

JACKQLYN wrote:

I'm curious of how my fellow hunters are doing???

Could be better. The spring/summer bump is frustrating, because it happened even in Temecula where we're looking. We've put in a few offers, but even when we love the house, there's this queasy feeling because we know that $80/sf (and less) prices will be coming back. Not to mention that inventory just SUCKS. The nice places are $110/sf+, they're few and far between, and there's still (in October) too much competition.

Still, I probably can't complain, considering the price difference will mean a $1,400 payment instead of an $1,100 payment. It's not like it will be a hardship.

here are no houses for
Submitted by scaredycat on October 6, 2009 - 8:14am.

here are no houses for sale.

everyone wants the houses that are for sale.

it's difficult to buy a house.

they seem pretty cheap.

but not dirt cheap.

I am afraid to buy one.

Many people who bought a car
Submitted by HLS on October 7, 2009 - 9:26pm.

Many people who bought a car using Cash For Clunkers screwed themselves.
Sales prices went up, many incentives went away, financing went up and the $4500 appears to be taxable as income.
Auto sales are horrible now and the deals are better than when CfC was on...

I see the same foolishness of people paying $10K-$25K more than a house is worth so they can get an $8000 credit...bidding prices up.

There are millions of foreclosures yet to come nationwide. Without bailout money and inventory ultimately coming to market combined with the difficulty for many to get financing and falling rental prices, it only looks like prices can go in one direction without continued govt intervention & manipulation.
The emperor has no clothes.... HLS

HLS wrote:Many people who
Submitted by equalizer on October 7, 2009 - 11:11pm.

HLS wrote:
Many people who bought a car using Cash For Clunkers screwed themselves.
Sales prices went up, many incentives went away, financing went up and the $4500 appears to be taxable as income.
Auto sales are horrible now and the deals are better than when CfC was on...

I see the same foolishness of people paying $10K-$25K more than a house is worth so they can get an $8000 credit...bidding prices up.

There are millions of foreclosures yet to come nationwide. Without bailout money and inventory ultimately coming to market combined with the difficulty for many to get financing and falling rental prices, it only looks like prices can go in one direction without continued govt intervention & manipulation.
The emperor has no clothes.... HLS


Well said!