if it’s under $300k in a few years..that’s a big drop. big.
if prices fall…but not TOO MUCH…then buyign now before it’s harder to get 100% financing is a decent idea.
my big questions are:
where do you think rates will be in 3 eyars?
where do you think temecula prices will be in 3 years?
where do you think 100% financing will be in 3 years?
do you think temecula houses will fall to 2001-2002 prices?? ….in which case this house will sell for 250-275k max. i’d be bummed to be that much upside down.
if rates are up a lot – payment may not be much different. rents will be up..and the whole rent/buy thing may be the same.
if 100% financing is totally gone…i could be in trouble. while i make good money, i readily admit i’m a poor saver. i can afford the 325-350k mortgage at 100%. that’s not hard. it’s at the upper end of what i consider comfortable…which is why i’m in NO rush to run out and buy the houses I LOVE that are priced at 450-500k… just too much money to bite off. 350k is less than my last mortgage. my last one was 375k…and it was no sweat. i just suck at saving money. shame on me.. 🙂 i admit it. anyway..if 100% financing goes belly up in 3 years..i worry that i may not have put away enough to then qualify for the laon i will want/need to get into a comparable house.
if i get in now..at a price taht is under current values…i could be insulated aginast a lot of the future price drops, still get a good rate, nd take advantage of 100% financing while it still there to get.
i still thin prices will go down. ij ust don’t know how much. part of me wants to think they will go down..way down…like to 2002 levels…but part of me thinks it just won’t go down *THAT* much… no one really knows.
what do you all think about:
future price drops in temecula
future int rates
availability of 100% financing in the future?
