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  • May 21, 2008 at 9:35 AM #12806
    admin
    Keymaster

    Some of you know from my previous posts that I’m buying in Temecula or Murrieta. So, for those of you who are familiar with the area, should I wait at least a year or buy now?

    The new home builders in this area sare getting desperate and offering a lot of incentives such as dollars off the price and rate buy downs, but the houses still seem overpriced to me. My concern is if I buy now, how much will my house have depreciated in a year…

    Advice?

    May 21, 2008 at 10:10 AM #209023
    (former)FormerSanDiegan
    Participant

    After buying would you have 6 months worth of living expenses (emergency funds) available? If not, do not buy at this point. For buyers in that situation you should at least wait until a turn in the market is underway.

    If you do have sufficient cash reserves after buying, then I would neither buy not or wait a year. I would buy in October. (probably 2008 if you “have to”, but maybe 2009 will be better).

    May 21, 2008 at 10:10 AM #209081
    (former)FormerSanDiegan
    Participant

    After buying would you have 6 months worth of living expenses (emergency funds) available? If not, do not buy at this point. For buyers in that situation you should at least wait until a turn in the market is underway.

    If you do have sufficient cash reserves after buying, then I would neither buy not or wait a year. I would buy in October. (probably 2008 if you “have to”, but maybe 2009 will be better).

    May 21, 2008 at 10:10 AM #209113
    (former)FormerSanDiegan
    Participant

    After buying would you have 6 months worth of living expenses (emergency funds) available? If not, do not buy at this point. For buyers in that situation you should at least wait until a turn in the market is underway.

    If you do have sufficient cash reserves after buying, then I would neither buy not or wait a year. I would buy in October. (probably 2008 if you “have to”, but maybe 2009 will be better).

    May 21, 2008 at 10:10 AM #209135
    (former)FormerSanDiegan
    Participant

    After buying would you have 6 months worth of living expenses (emergency funds) available? If not, do not buy at this point. For buyers in that situation you should at least wait until a turn in the market is underway.

    If you do have sufficient cash reserves after buying, then I would neither buy not or wait a year. I would buy in October. (probably 2008 if you “have to”, but maybe 2009 will be better).

    May 21, 2008 at 10:10 AM #209170
    (former)FormerSanDiegan
    Participant

    After buying would you have 6 months worth of living expenses (emergency funds) available? If not, do not buy at this point. For buyers in that situation you should at least wait until a turn in the market is underway.

    If you do have sufficient cash reserves after buying, then I would neither buy not or wait a year. I would buy in October. (probably 2008 if you “have to”, but maybe 2009 will be better).

    May 21, 2008 at 10:20 AM #209033
    NotCranky
    Participant

    I wonder how many people are waiting to buy in October or thereabouts. I know a few. Fall bounce?

    May 21, 2008 at 10:20 AM #209091
    NotCranky
    Participant

    I wonder how many people are waiting to buy in October or thereabouts. I know a few. Fall bounce?

    May 21, 2008 at 10:20 AM #209123
    NotCranky
    Participant

    I wonder how many people are waiting to buy in October or thereabouts. I know a few. Fall bounce?

    May 21, 2008 at 10:20 AM #209146
    NotCranky
    Participant

    I wonder how many people are waiting to buy in October or thereabouts. I know a few. Fall bounce?

    May 21, 2008 at 10:20 AM #209180
    NotCranky
    Participant

    I wonder how many people are waiting to buy in October or thereabouts. I know a few. Fall bounce?

    May 21, 2008 at 10:27 AM #209038
    Anonymous
    Guest

    FormerSanDiegan, no I do not have 6 months cash reserves. I just got graduated college (May 2007). I wasn’t able to save paying for expensive college classes and attending full-time while taking care of two kids.

    My biggest fear is buying a house now for 300k, and then next year, the builder is offering that same house for 200k.

    May 21, 2008 at 10:27 AM #209096
    Anonymous
    Guest

    FormerSanDiegan, no I do not have 6 months cash reserves. I just got graduated college (May 2007). I wasn’t able to save paying for expensive college classes and attending full-time while taking care of two kids.

    My biggest fear is buying a house now for 300k, and then next year, the builder is offering that same house for 200k.

    May 21, 2008 at 10:27 AM #209128
    Anonymous
    Guest

    FormerSanDiegan, no I do not have 6 months cash reserves. I just got graduated college (May 2007). I wasn’t able to save paying for expensive college classes and attending full-time while taking care of two kids.

    My biggest fear is buying a house now for 300k, and then next year, the builder is offering that same house for 200k.

    May 21, 2008 at 10:27 AM #209150
    Anonymous
    Guest

    FormerSanDiegan, no I do not have 6 months cash reserves. I just got graduated college (May 2007). I wasn’t able to save paying for expensive college classes and attending full-time while taking care of two kids.

    My biggest fear is buying a house now for 300k, and then next year, the builder is offering that same house for 200k.

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