I can do an analysis for you tonite and I will post the results later this evening if that is okay.
My take on the home itself will sound like a rerun of what I have said before:
IFF (if and only if)
– You can afford the payments
– You can ride out a depreciation cycle
– You REALLY love this home
– You are going to be in it (or at least planning to keep it) for several years, at least 7 IMO.
– You have good solid financing
Then go buy the home! Many people who post here seriously devalue the aspect of home ownership. While there is NO ARGUMENT that the market is in a long term depreciating trend, there are aspects to ownership that many people value higher then finding the bottom of the market.
I will run some comps for ya so that you can negotiate a good deal. My home, albeit a smaller condo in crown point doesn’t have AC or heat either, just a fireplace. That close to the beach you dont need AC.
