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  • January 28, 2011 at 7:50 AM #659791
    JBurkett19
    Participant

    I agree with the previous post. If you’re financing, rates will not get any better. Rates already have seen the best. If crazy inflation sets in, as many say, then you’d be best served by financing now. If the Fed raises the window rate to 20%, to cool things off, prices will go down further, but no one will be able (or want to) finance at those rates.

    Just my opinion-

    January 28, 2011 at 9:33 AM #659811
    Scarlett
    Participant

    I am in the same boat with the OP. I don’t think prices are where they should be, especially when you consider rents, but I don’t know how long it will take to ge there, if ever. I believe the prices should be more like 2001-2002 nominal prices. Frankly I am kind of scared of buying seeing all the horror stories about the housing. And especially about throwing away that downpayment… I am not rich.

    January 28, 2011 at 9:33 AM #659673
    Scarlett
    Participant

    I am in the same boat with the OP. I don’t think prices are where they should be, especially when you consider rents, but I don’t know how long it will take to ge there, if ever. I believe the prices should be more like 2001-2002 nominal prices. Frankly I am kind of scared of buying seeing all the horror stories about the housing. And especially about throwing away that downpayment… I am not rich.

    January 28, 2011 at 9:33 AM #659070
    Scarlett
    Participant

    I am in the same boat with the OP. I don’t think prices are where they should be, especially when you consider rents, but I don’t know how long it will take to ge there, if ever. I believe the prices should be more like 2001-2002 nominal prices. Frankly I am kind of scared of buying seeing all the horror stories about the housing. And especially about throwing away that downpayment… I am not rich.

    January 28, 2011 at 9:33 AM #660139
    Scarlett
    Participant

    I am in the same boat with the OP. I don’t think prices are where they should be, especially when you consider rents, but I don’t know how long it will take to ge there, if ever. I believe the prices should be more like 2001-2002 nominal prices. Frankly I am kind of scared of buying seeing all the horror stories about the housing. And especially about throwing away that downpayment… I am not rich.

    January 28, 2011 at 9:33 AM #659007
    Scarlett
    Participant

    I am in the same boat with the OP. I don’t think prices are where they should be, especially when you consider rents, but I don’t know how long it will take to ge there, if ever. I believe the prices should be more like 2001-2002 nominal prices. Frankly I am kind of scared of buying seeing all the horror stories about the housing. And especially about throwing away that downpayment… I am not rich.

    January 28, 2011 at 10:04 AM #659027
    scaredyclassic
    Participant

    you will never be certain you won’t lose your downpayment.

    This is not an investment and it’s not safe.

    It’s consumption.

    Buy it like any consumable if the payment looks good and it works for you.

    This is my final answer after three years of pondering questions you posed myself.

    January 28, 2011 at 10:04 AM #659831
    scaredyclassic
    Participant

    you will never be certain you won’t lose your downpayment.

    This is not an investment and it’s not safe.

    It’s consumption.

    Buy it like any consumable if the payment looks good and it works for you.

    This is my final answer after three years of pondering questions you posed myself.

    January 28, 2011 at 10:04 AM #659693
    scaredyclassic
    Participant

    you will never be certain you won’t lose your downpayment.

    This is not an investment and it’s not safe.

    It’s consumption.

    Buy it like any consumable if the payment looks good and it works for you.

    This is my final answer after three years of pondering questions you posed myself.

    January 28, 2011 at 10:04 AM #660159
    scaredyclassic
    Participant

    you will never be certain you won’t lose your downpayment.

    This is not an investment and it’s not safe.

    It’s consumption.

    Buy it like any consumable if the payment looks good and it works for you.

    This is my final answer after three years of pondering questions you posed myself.

    January 28, 2011 at 10:04 AM #659090
    scaredyclassic
    Participant

    you will never be certain you won’t lose your downpayment.

    This is not an investment and it’s not safe.

    It’s consumption.

    Buy it like any consumable if the payment looks good and it works for you.

    This is my final answer after three years of pondering questions you posed myself.

    January 28, 2011 at 10:29 AM #660169
    ljinvestor
    Participant

    It’s reasonable that a home in the $500k range could lose another 10% but personally I would focus on the comps in the area and try to get something that is already 10%-20% below then you don’t have to worry much about the bottom.

    Peak price means nothing and if you ever find anything at or around 2000 prices then it probably a great deal.

    January 28, 2011 at 10:29 AM #659037
    ljinvestor
    Participant

    It’s reasonable that a home in the $500k range could lose another 10% but personally I would focus on the comps in the area and try to get something that is already 10%-20% below then you don’t have to worry much about the bottom.

    Peak price means nothing and if you ever find anything at or around 2000 prices then it probably a great deal.

    January 28, 2011 at 10:29 AM #659100
    ljinvestor
    Participant

    It’s reasonable that a home in the $500k range could lose another 10% but personally I would focus on the comps in the area and try to get something that is already 10%-20% below then you don’t have to worry much about the bottom.

    Peak price means nothing and if you ever find anything at or around 2000 prices then it probably a great deal.

    January 28, 2011 at 10:29 AM #659841
    ljinvestor
    Participant

    It’s reasonable that a home in the $500k range could lose another 10% but personally I would focus on the comps in the area and try to get something that is already 10%-20% below then you don’t have to worry much about the bottom.

    Peak price means nothing and if you ever find anything at or around 2000 prices then it probably a great deal.

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