Jan, you did fine and got it for more than 25% less than had you not waited. You can’t unring a bell so as long as it is what you wanted and you can afford it, enjoy. Even though many of us (myself included) think it will continue to go down, I’m not going to write you a check if I’m wrong.

23109, Finally I see something that I can defend. Give up on how wise the decision was, because you can’t defend the math, math is mean and when math gets mad it can be ruthless. It was your decision, now live with it. You can’t list it for 430k because you just killed the comps, no bank will make that loan and had that other sale not closed already, his lender wouldn’t make that deal either after he saw yours and after the appraisers see New guy’s deal, the first number in the price of a 1900 sq ft. within the same development will not be a 4 again, until this cycle ends.

Here’s what you can defend, here is where math can be your friend and here is why I am proud of you. 140k income, 350k purchase price. Less than 3x income, bravo!!! If you had gone 20% down, the loan would be exactly 2x income, that you can defend, that is where you win. By comparison do you think the average buyer of a 750k home in s.d. makes 250k, or the 600k 100% loan buyers make 200k to 300k, they don’t, they make what you make and they borrow twice as much, the first bump in the road, they are screwed, you are not. You bought within your means, that is what you should be proud of. At 12k a month income with 3k total housing cost out the door, you are at a 25% ratio at the start, get a fixed rate, with no tricksies, over time your income will rise, your housing costs won’t and the wife won’t complain when you smoke the $10 cigars and drink the 20 year old Tawny Port.