Thanks SD Realtor. I don’t have a choice but to wait. My credit is good and my debt is low, but I refuse to get in over my head. I didn’t do any zero-down, interest-only ARMs, thinking I’m doing the right thing being cautious and conservative. Of course in 4+ years have seen prices double. So discouraging.
So now that people have to prove they can afford a place, I’m hoping the prices come down to something reasonable. There’s a place on Law Street that’s listed at 1.3. Been on the market for a verrry LONG time, like a year at least. It goes off the market and relists. In any case, the guy has a NOD and it’ll take 20k to be current. Yet still has not reduced the price.
I don’t get it. W/the way the market is w/defaults and foreclosures and tightening of credit, who is going to buy that place?
