I really really really want to buy, soon

[Anonymous]

125, what is really farfetched is to imagine that those smallish houses in non-coastal neighborhoods you are looking at ever sold for 600K+ in the first place. Now the correction is going be really nasty in those areas.

Look at what those houses sold for around 1999/2000 and then you will see closer to real value (based on income). Now that credit is shut off, and people actually have to show proof on income, it’s a whole new ballgame.

Bottom line, if you buy now, you’ll be kicking yourself later.

[RatherOpinionated]

That’s Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

[RatherOpinionated]

That’s Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

[RatherOpinionated]

That’s Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

[RatherOpinionated]

That’s Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

[RatherOpinionated]

That’s Bs. If you base your decision on trying to buy based on VALUE you will be renting your entire life like many of these others on this board. How many good companies trade for book value, or similar metric? They trade at premiums or other valuation to their intrinsic value for various reasons, the same reason homes in san Diego sell for more than those in Dallas or huntsville, or other locale you all claim to be a better value.

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere. Heck, if prices drop a bit and you are living in a place you like, who cares?

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

[The OC Scam]

160k is obviously a very good annual income and 780 kicks some serious kittens with 10 percent …um you the man!

I wasn’t saying you couldn’t get financing but as SDR says there are people getting loans just not like they were before..
As far as you saying 600k house not going down to 400k? This has already happened here in OC
I have purchased a home in very nice neighborhood because I want to keep my children in the school district and the price was negotiated into my comfort zone. We settled in the mid 400k area and this is a home that sold for around 700k in 2006. My background is 120k combined, 20 percent and 780ish credit and we had some issues with the reserves. You can ask some of the realtors on here but I had to borrow some money to show a 5 percent reserves after putting down the 20 percent. This is something I wasn’t anticipating you may not as well?

And yes to SD R I bought the foreclosure! I’m not a squatter anymore
Good luck!

[The OC Scam]

160k is obviously a very good annual income and 780 kicks some serious kittens with 10 percent …um you the man!

I wasn’t saying you couldn’t get financing but as SDR says there are people getting loans just not like they were before..
As far as you saying 600k house not going down to 400k? This has already happened here in OC
I have purchased a home in very nice neighborhood because I want to keep my children in the school district and the price was negotiated into my comfort zone. We settled in the mid 400k area and this is a home that sold for around 700k in 2006. My background is 120k combined, 20 percent and 780ish credit and we had some issues with the reserves. You can ask some of the realtors on here but I had to borrow some money to show a 5 percent reserves after putting down the 20 percent. This is something I wasn’t anticipating you may not as well?

And yes to SD R I bought the foreclosure! I’m not a squatter anymore
Good luck!

[The OC Scam]

160k is obviously a very good annual income and 780 kicks some serious kittens with 10 percent …um you the man!

I wasn’t saying you couldn’t get financing but as SDR says there are people getting loans just not like they were before..
As far as you saying 600k house not going down to 400k? This has already happened here in OC
I have purchased a home in very nice neighborhood because I want to keep my children in the school district and the price was negotiated into my comfort zone. We settled in the mid 400k area and this is a home that sold for around 700k in 2006. My background is 120k combined, 20 percent and 780ish credit and we had some issues with the reserves. You can ask some of the realtors on here but I had to borrow some money to show a 5 percent reserves after putting down the 20 percent. This is something I wasn’t anticipating you may not as well?

And yes to SD R I bought the foreclosure! I’m not a squatter anymore
Good luck!

[The OC Scam]

160k is obviously a very good annual income and 780 kicks some serious kittens with 10 percent …um you the man!

I wasn’t saying you couldn’t get financing but as SDR says there are people getting loans just not like they were before..
As far as you saying 600k house not going down to 400k? This has already happened here in OC
I have purchased a home in very nice neighborhood because I want to keep my children in the school district and the price was negotiated into my comfort zone. We settled in the mid 400k area and this is a home that sold for around 700k in 2006. My background is 120k combined, 20 percent and 780ish credit and we had some issues with the reserves. You can ask some of the realtors on here but I had to borrow some money to show a 5 percent reserves after putting down the 20 percent. This is something I wasn’t anticipating you may not as well?

And yes to SD R I bought the foreclosure! I’m not a squatter anymore
Good luck!

[The OC Scam]

160k is obviously a very good annual income and 780 kicks some serious kittens with 10 percent …um you the man!

I wasn’t saying you couldn’t get financing but as SDR says there are people getting loans just not like they were before..
As far as you saying 600k house not going down to 400k? This has already happened here in OC
I have purchased a home in very nice neighborhood because I want to keep my children in the school district and the price was negotiated into my comfort zone. We settled in the mid 400k area and this is a home that sold for around 700k in 2006. My background is 120k combined, 20 percent and 780ish credit and we had some issues with the reserves. You can ask some of the realtors on here but I had to borrow some money to show a 5 percent reserves after putting down the 20 percent. This is something I wasn’t anticipating you may not as well?

And yes to SD R I bought the foreclosure! I’m not a squatter anymore
Good luck!

[SD Realtor]

OC Scam I think yours is actually an example of getting a good deal in a depreciating market. Additionally your motivation for buying the home you now live in falls into one of the more common reasons that people buy. You did it for your family, you did it because you believe (or I shall say I assume you believe) that this home will be a home that you and your family will be leaving in for many yeasrs to come.

125 trying to figure out the depth of the depreciation cycle is quite difficult. A 600k to a 400k drop off is 33% and while that is a large drop off it is not inconceivable. Hard to believe but not impossible. We have already seen 30% drops in some areas here in San Diego County. I cannot say that it will happen in the areas you want to live in but…. well ya never know.

Again, given your salary, your single and as far as I know, you do not have any children I believe that you may be able to position yourself very well by waiting at least a year if not longer. Consequently with enough cash savings you may be well positioned not only to purchase a primary residence but perhaps an investment property as well.

Again, if you feel that you HAVE to buy now then at least drive a hard bargain, shop around…lowball take your time.

SD Realtor

[SD Realtor]

OC Scam I think yours is actually an example of getting a good deal in a depreciating market. Additionally your motivation for buying the home you now live in falls into one of the more common reasons that people buy. You did it for your family, you did it because you believe (or I shall say I assume you believe) that this home will be a home that you and your family will be leaving in for many yeasrs to come.

125 trying to figure out the depth of the depreciation cycle is quite difficult. A 600k to a 400k drop off is 33% and while that is a large drop off it is not inconceivable. Hard to believe but not impossible. We have already seen 30% drops in some areas here in San Diego County. I cannot say that it will happen in the areas you want to live in but…. well ya never know.

Again, given your salary, your single and as far as I know, you do not have any children I believe that you may be able to position yourself very well by waiting at least a year if not longer. Consequently with enough cash savings you may be well positioned not only to purchase a primary residence but perhaps an investment property as well.

Again, if you feel that you HAVE to buy now then at least drive a hard bargain, shop around…lowball take your time.

SD Realtor

[SD Realtor]

OC Scam I think yours is actually an example of getting a good deal in a depreciating market. Additionally your motivation for buying the home you now live in falls into one of the more common reasons that people buy. You did it for your family, you did it because you believe (or I shall say I assume you believe) that this home will be a home that you and your family will be leaving in for many yeasrs to come.

125 trying to figure out the depth of the depreciation cycle is quite difficult. A 600k to a 400k drop off is 33% and while that is a large drop off it is not inconceivable. Hard to believe but not impossible. We have already seen 30% drops in some areas here in San Diego County. I cannot say that it will happen in the areas you want to live in but…. well ya never know.

Again, given your salary, your single and as far as I know, you do not have any children I believe that you may be able to position yourself very well by waiting at least a year if not longer. Consequently with enough cash savings you may be well positioned not only to purchase a primary residence but perhaps an investment property as well.

Again, if you feel that you HAVE to buy now then at least drive a hard bargain, shop around…lowball take your time.

SD Realtor

[SD Realtor]

OC Scam I think yours is actually an example of getting a good deal in a depreciating market. Additionally your motivation for buying the home you now live in falls into one of the more common reasons that people buy. You did it for your family, you did it because you believe (or I shall say I assume you believe) that this home will be a home that you and your family will be leaving in for many yeasrs to come.

125 trying to figure out the depth of the depreciation cycle is quite difficult. A 600k to a 400k drop off is 33% and while that is a large drop off it is not inconceivable. Hard to believe but not impossible. We have already seen 30% drops in some areas here in San Diego County. I cannot say that it will happen in the areas you want to live in but…. well ya never know.

Again, given your salary, your single and as far as I know, you do not have any children I believe that you may be able to position yourself very well by waiting at least a year if not longer. Consequently with enough cash savings you may be well positioned not only to purchase a primary residence but perhaps an investment property as well.

Again, if you feel that you HAVE to buy now then at least drive a hard bargain, shop around…lowball take your time.

SD Realtor

[Author]

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