I used to tell people on the fence that sometimes the best time to buy is when you can, as long as you have a safety net. Then things got really stupid and I said it is crazy to buy a house.In your case and market TemeculaGuy I might actually go back to the old standard. In anycase, your risk isn’t that great either way and as I said I wouldn’t get too upset about it.If increased rates are coming prices should go down proportionally.Given all the other downward factors, at the very least, you get the same house at the same payment(and better tax bill), not a lesser house. The only thing that concerns me with your location is that prices have been slammed pretty good already. It seems retirees from cold or hot, meteorlogically speaking, non-bubble areas,or even bubble areas,or from an inner city shack to a nice house there, would begin to see Temecula as a good trade if it goes down any further. I sure would in that situation.In that case though, you will be the first to know if that starts to happen in mass. Not that you asked for my assurances, but you are fine.
