My wife and I closed in March and understand that our property will lose value. The question is how much? None of us know and can only speculate. We bought a new home in 4s and know that a lot of people on this board believe that this area is on the way to losing a lot more value. It seems like its getting to the point where builders, in this area and others like it, are close to being as low as they can go to be able to still build and survive. After reading many posts on this board, it seems like most of you would like to see this happen so that property values will fall more. Bottom line, recently there are many buyers in this market like us that bought property for the long term and not to flip. We put about 10% down and used my VA benefit no PMI. We also locked a 5% fixed 30. We prepared unlike a lot of people from the past by paying off all debt and now only have a mortgage and utilities. Believe it or not, many people today have done the same given todays in depth lending standards. As far as employment, I have been in the military for 11 years and my wife is a dental hygienist. A lot of current buyers, I’m assuming, are in the same position as far as employment security. Good luck to all in your decisions.
