Buying a house at the new top of the market?

[sdcellar]

UCGal, yes, we’re planning on staying in the house until our pre-school age kids finish high school. We can imagine this as the last house we’d ever buy, but that’s getting pretty far ahead of ourselves. We have contingency savings. We’ll still be able to set aside retirement money and take vacations.

So, I certainly think we meet the buy criteria and wouldn’t be making an offer otherwise. Fair to ask though, because I’ve seen plenty of folks who think they’re both getting their foot in the door and will be able to move up in the not to terribly distant future. Big potential mistake/risk in my opinion.

[an]

BTW, this is what you said last August:

[quote=sdcellar]That said, I am not saying that we’re 90% (or 85%) of the way there. To me, it’s a heck of a lot more complex than that. At the higher end, it simply seems like there’s got to be a ways to go, but even with individual lower end properties, I see prices that are still whacky.

I suppose I’m a big fan of ocrenter’s notion of 2001 prices being the right balance, but with all the machinations and madness going on, who knows?[/quote]

Is the higher end no longer whacky? Don’t you still think there’s a ways to go on the down side? Shouldn’t you be waiting for 2001 nominal price? Why settle for a 2001 inflation adjusted price?

[an]

BTW, this is what you said last August:

[quote=sdcellar]That said, I am not saying that we’re 90% (or 85%) of the way there. To me, it’s a heck of a lot more complex than that. At the higher end, it simply seems like there’s got to be a ways to go, but even with individual lower end properties, I see prices that are still whacky.

I suppose I’m a big fan of ocrenter’s notion of 2001 prices being the right balance, but with all the machinations and madness going on, who knows?[/quote]

Is the higher end no longer whacky? Don’t you still think there’s a ways to go on the down side? Shouldn’t you be waiting for 2001 nominal price? Why settle for a 2001 inflation adjusted price?

[an]

BTW, this is what you said last August:

[quote=sdcellar]That said, I am not saying that we’re 90% (or 85%) of the way there. To me, it’s a heck of a lot more complex than that. At the higher end, it simply seems like there’s got to be a ways to go, but even with individual lower end properties, I see prices that are still whacky.

I suppose I’m a big fan of ocrenter’s notion of 2001 prices being the right balance, but with all the machinations and madness going on, who knows?[/quote]

Is the higher end no longer whacky? Don’t you still think there’s a ways to go on the down side? Shouldn’t you be waiting for 2001 nominal price? Why settle for a 2001 inflation adjusted price?

[an]

BTW, this is what you said last August:

[quote=sdcellar]That said, I am not saying that we’re 90% (or 85%) of the way there. To me, it’s a heck of a lot more complex than that. At the higher end, it simply seems like there’s got to be a ways to go, but even with individual lower end properties, I see prices that are still whacky.

I suppose I’m a big fan of ocrenter’s notion of 2001 prices being the right balance, but with all the machinations and madness going on, who knows?[/quote]

Is the higher end no longer whacky? Don’t you still think there’s a ways to go on the down side? Shouldn’t you be waiting for 2001 nominal price? Why settle for a 2001 inflation adjusted price?

[an]

BTW, this is what you said last August:

[quote=sdcellar]That said, I am not saying that we’re 90% (or 85%) of the way there. To me, it’s a heck of a lot more complex than that. At the higher end, it simply seems like there’s got to be a ways to go, but even with individual lower end properties, I see prices that are still whacky.

I suppose I’m a big fan of ocrenter’s notion of 2001 prices being the right balance, but with all the machinations and madness going on, who knows?[/quote]

Is the higher end no longer whacky? Don’t you still think there’s a ways to go on the down side? Shouldn’t you be waiting for 2001 nominal price? Why settle for a 2001 inflation adjusted price?

[sdcellar]

AN, I’d be less than happy if I took a 20% loss on this place, especially if you mean in real dollars. The monthly payment would be a third of what it’d be today and put me that much closer to owning it outright. Of course, that’d open up my options in a lot of other ways as well. That said, I honestly don’t see that happening with this property. Could happen, but just doesn’t seem likely.

As far as me giving people grief about their long-termedness, I generally caution first-time buyers to be careful in thinking they’re going to be keeping a house longer than they actually will (or not thinking about it at all). If you think that’s grief, then so be it.

This is a settle down house. The only signficant risk to that is marital status and we seem pretty good on that front.

[sdcellar]

AN, I’d be less than happy if I took a 20% loss on this place, especially if you mean in real dollars. The monthly payment would be a third of what it’d be today and put me that much closer to owning it outright. Of course, that’d open up my options in a lot of other ways as well. That said, I honestly don’t see that happening with this property. Could happen, but just doesn’t seem likely.

As far as me giving people grief about their long-termedness, I generally caution first-time buyers to be careful in thinking they’re going to be keeping a house longer than they actually will (or not thinking about it at all). If you think that’s grief, then so be it.

This is a settle down house. The only signficant risk to that is marital status and we seem pretty good on that front.

[sdcellar]

AN, I’d be less than happy if I took a 20% loss on this place, especially if you mean in real dollars. The monthly payment would be a third of what it’d be today and put me that much closer to owning it outright. Of course, that’d open up my options in a lot of other ways as well. That said, I honestly don’t see that happening with this property. Could happen, but just doesn’t seem likely.

As far as me giving people grief about their long-termedness, I generally caution first-time buyers to be careful in thinking they’re going to be keeping a house longer than they actually will (or not thinking about it at all). If you think that’s grief, then so be it.

This is a settle down house. The only signficant risk to that is marital status and we seem pretty good on that front.

[sdcellar]

AN, I’d be less than happy if I took a 20% loss on this place, especially if you mean in real dollars. The monthly payment would be a third of what it’d be today and put me that much closer to owning it outright. Of course, that’d open up my options in a lot of other ways as well. That said, I honestly don’t see that happening with this property. Could happen, but just doesn’t seem likely.

As far as me giving people grief about their long-termedness, I generally caution first-time buyers to be careful in thinking they’re going to be keeping a house longer than they actually will (or not thinking about it at all). If you think that’s grief, then so be it.

This is a settle down house. The only signficant risk to that is marital status and we seem pretty good on that front.

[sdcellar]

AN, I’d be less than happy if I took a 20% loss on this place, especially if you mean in real dollars. The monthly payment would be a third of what it’d be today and put me that much closer to owning it outright. Of course, that’d open up my options in a lot of other ways as well. That said, I honestly don’t see that happening with this property. Could happen, but just doesn’t seem likely.

As far as me giving people grief about their long-termedness, I generally caution first-time buyers to be careful in thinking they’re going to be keeping a house longer than they actually will (or not thinking about it at all). If you think that’s grief, then so be it.

This is a settle down house. The only signficant risk to that is marital status and we seem pretty good on that front.

[sdcellar]

[quote=AN]BTW, this is what you said last August:

[quote=sdcellar]That said, I am not saying that we’re 90% (or 85%) of the way there. To me, it’s a heck of a lot more complex than that. At the higher end, it simply seems like there’s got to be a ways to go, but even with individual lower end properties, I see prices that are still whacky.

I suppose I’m a big fan of ocrenter’s notion of 2001 prices being the right balance, but with all the machinations and madness going on, who knows?[/quote]

Is the higher end no longer whacky? Don’t you still think there’s a ways to go on the down side? Shouldn’t you be waiting for 2001 nominal price? Why settle for a 2001 inflation adjusted price?[/quote]Oh, the higher end is still whacky, but there are individual properties that are decidedly less so. People are still happy to overpay for CV. I suppose it’s a different strokes for different folks thing.

I’d love to get 2001 nominal price, but I can live with inflation adjusted (explained that to you at length just a short while ago). I believe this place is somewhere in the middle and I’d like to get this home buying thing behind me and move on the next thing at some point. I also think the further we get from 2001, the less realistic nominal becomes and I just don’t have the mental capacity to figure out March 2001 nominal price inflation adjusted since May 2009.

[sdcellar]

[quote=AN]BTW, this is what you said last August:

[quote=sdcellar]That said, I am not saying that we’re 90% (or 85%) of the way there. To me, it’s a heck of a lot more complex than that. At the higher end, it simply seems like there’s got to be a ways to go, but even with individual lower end properties, I see prices that are still whacky.

I suppose I’m a big fan of ocrenter’s notion of 2001 prices being the right balance, but with all the machinations and madness going on, who knows?[/quote]

Is the higher end no longer whacky? Don’t you still think there’s a ways to go on the down side? Shouldn’t you be waiting for 2001 nominal price? Why settle for a 2001 inflation adjusted price?[/quote]Oh, the higher end is still whacky, but there are individual properties that are decidedly less so. People are still happy to overpay for CV. I suppose it’s a different strokes for different folks thing.

I’d love to get 2001 nominal price, but I can live with inflation adjusted (explained that to you at length just a short while ago). I believe this place is somewhere in the middle and I’d like to get this home buying thing behind me and move on the next thing at some point. I also think the further we get from 2001, the less realistic nominal becomes and I just don’t have the mental capacity to figure out March 2001 nominal price inflation adjusted since May 2009.

[sdcellar]

[quote=AN]BTW, this is what you said last August:

[quote=sdcellar]That said, I am not saying that we’re 90% (or 85%) of the way there. To me, it’s a heck of a lot more complex than that. At the higher end, it simply seems like there’s got to be a ways to go, but even with individual lower end properties, I see prices that are still whacky.

I suppose I’m a big fan of ocrenter’s notion of 2001 prices being the right balance, but with all the machinations and madness going on, who knows?[/quote]

Is the higher end no longer whacky? Don’t you still think there’s a ways to go on the down side? Shouldn’t you be waiting for 2001 nominal price? Why settle for a 2001 inflation adjusted price?[/quote]Oh, the higher end is still whacky, but there are individual properties that are decidedly less so. People are still happy to overpay for CV. I suppose it’s a different strokes for different folks thing.

I’d love to get 2001 nominal price, but I can live with inflation adjusted (explained that to you at length just a short while ago). I believe this place is somewhere in the middle and I’d like to get this home buying thing behind me and move on the next thing at some point. I also think the further we get from 2001, the less realistic nominal becomes and I just don’t have the mental capacity to figure out March 2001 nominal price inflation adjusted since May 2009.

[sdcellar]

[quote=AN]BTW, this is what you said last August:

[quote=sdcellar]That said, I am not saying that we’re 90% (or 85%) of the way there. To me, it’s a heck of a lot more complex than that. At the higher end, it simply seems like there’s got to be a ways to go, but even with individual lower end properties, I see prices that are still whacky.

I suppose I’m a big fan of ocrenter’s notion of 2001 prices being the right balance, but with all the machinations and madness going on, who knows?[/quote]

Is the higher end no longer whacky? Don’t you still think there’s a ways to go on the down side? Shouldn’t you be waiting for 2001 nominal price? Why settle for a 2001 inflation adjusted price?[/quote]Oh, the higher end is still whacky, but there are individual properties that are decidedly less so. People are still happy to overpay for CV. I suppose it’s a different strokes for different folks thing.

I’d love to get 2001 nominal price, but I can live with inflation adjusted (explained that to you at length just a short while ago). I believe this place is somewhere in the middle and I’d like to get this home buying thing behind me and move on the next thing at some point. I also think the further we get from 2001, the less realistic nominal becomes and I just don’t have the mental capacity to figure out March 2001 nominal price inflation adjusted since May 2009.

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