Would you have pulled the trigger?

[an]

Funny how you claim to always understood me, yet you seem to be the most viscous here when it comes to nit picking my post and attacking me.

50% haircut from here is an extreme case. I’m not denying that. But as I’ve said before, if my mortgage continue to be less than my comparable rent, I would still be OK with it. I don’t plan to sell this house, that’s why it’s OK with me if it dip for a few years. For those who do plan to sell in the next 5-10 years, they should definitely consider the possibility/probability of not even breaking even when they need to sell.

Were those questions directed at me specifically or just the questions one should ask themselves before they decide to buy? All of those questions you just asked are the questions I asked myself long before I decide to purchase.

One should properly assess all the probable scenarios and what’s the probability of them happening. Then make their decision based on what they think would happen and would you still be OK if a different scenario occur. Everyone is different and every area is different. No one here can make decision for you. Only you can do that, since you’re the one who will have to live with that decision.

One other thing you have to consider is, what you think is a reasonable probability might not be reasonable probability for me, and vice versa.

[sdcellar]

To answer your question, my questions were not directed at you. They were just examples for potential homebuyers and I wasn’t suggesting you hadn’t considered each and every one of them.

[sdcellar]

To answer your question, my questions were not directed at you. They were just examples for potential homebuyers and I wasn’t suggesting you hadn’t considered each and every one of them.

[sdcellar]

To answer your question, my questions were not directed at you. They were just examples for potential homebuyers and I wasn’t suggesting you hadn’t considered each and every one of them.

[sdcellar]

To answer your question, my questions were not directed at you. They were just examples for potential homebuyers and I wasn’t suggesting you hadn’t considered each and every one of them.

[sdcellar]

To answer your question, my questions were not directed at you. They were just examples for potential homebuyers and I wasn’t suggesting you hadn’t considered each and every one of them.

[weberlin]

[quote=sdcellar]And, fwiw, note my post on Rich’s new article about the latest Case-Shiller numbers. I’m serious that I really am at a loss as to where things are going.

I do know that I’m tired of this economy though. All I wanted was for real estate to come back to reality, but I know too many good people who are suffering.[/quote]

Yeah, I read your post. I’m falling in love with this site more and more. On top of Rich’s awesome well thought out, and well researched posts; there is a ton of KNOWLEDGEABLE discussion going on. Some douche-bags pop up here and there, and some people get heated in their discussions (which I still find amusing: arguing on the Interwebs? seriously?)

So keep postin’ man, I like to hear what people think. I originally started this thread to hear exactly what you and AN and other’s have given me: insightful advice on issues I didn’t think about.

[weberlin]

[quote=sdcellar]And, fwiw, note my post on Rich’s new article about the latest Case-Shiller numbers. I’m serious that I really am at a loss as to where things are going.

I do know that I’m tired of this economy though. All I wanted was for real estate to come back to reality, but I know too many good people who are suffering.[/quote]

Yeah, I read your post. I’m falling in love with this site more and more. On top of Rich’s awesome well thought out, and well researched posts; there is a ton of KNOWLEDGEABLE discussion going on. Some douche-bags pop up here and there, and some people get heated in their discussions (which I still find amusing: arguing on the Interwebs? seriously?)

So keep postin’ man, I like to hear what people think. I originally started this thread to hear exactly what you and AN and other’s have given me: insightful advice on issues I didn’t think about.

[weberlin]

[quote=sdcellar]And, fwiw, note my post on Rich’s new article about the latest Case-Shiller numbers. I’m serious that I really am at a loss as to where things are going.

I do know that I’m tired of this economy though. All I wanted was for real estate to come back to reality, but I know too many good people who are suffering.[/quote]

Yeah, I read your post. I’m falling in love with this site more and more. On top of Rich’s awesome well thought out, and well researched posts; there is a ton of KNOWLEDGEABLE discussion going on. Some douche-bags pop up here and there, and some people get heated in their discussions (which I still find amusing: arguing on the Interwebs? seriously?)

So keep postin’ man, I like to hear what people think. I originally started this thread to hear exactly what you and AN and other’s have given me: insightful advice on issues I didn’t think about.

[weberlin]

[quote=sdcellar]And, fwiw, note my post on Rich’s new article about the latest Case-Shiller numbers. I’m serious that I really am at a loss as to where things are going.

I do know that I’m tired of this economy though. All I wanted was for real estate to come back to reality, but I know too many good people who are suffering.[/quote]

Yeah, I read your post. I’m falling in love with this site more and more. On top of Rich’s awesome well thought out, and well researched posts; there is a ton of KNOWLEDGEABLE discussion going on. Some douche-bags pop up here and there, and some people get heated in their discussions (which I still find amusing: arguing on the Interwebs? seriously?)

So keep postin’ man, I like to hear what people think. I originally started this thread to hear exactly what you and AN and other’s have given me: insightful advice on issues I didn’t think about.

[weberlin]

[quote=sdcellar]And, fwiw, note my post on Rich’s new article about the latest Case-Shiller numbers. I’m serious that I really am at a loss as to where things are going.

I do know that I’m tired of this economy though. All I wanted was for real estate to come back to reality, but I know too many good people who are suffering.[/quote]

Yeah, I read your post. I’m falling in love with this site more and more. On top of Rich’s awesome well thought out, and well researched posts; there is a ton of KNOWLEDGEABLE discussion going on. Some douche-bags pop up here and there, and some people get heated in their discussions (which I still find amusing: arguing on the Interwebs? seriously?)

So keep postin’ man, I like to hear what people think. I originally started this thread to hear exactly what you and AN and other’s have given me: insightful advice on issues I didn’t think about.

[Diego Mamani]

I’m glad I asked the “how much would it rent for today?” question. That brought interesting comments. Too bad we had some heated discussion… (reminds me of usenet groups in the early 1990s, like the OP, I find it amusing nonetheless).

So, it’d rent for $1800 today? Minus HOA, that leaves less than $1500, which is probably too low a return relative to the purchase price. If the OP really likes the place and plans on staying put for at least 7-10 years, then he’ll be OK.

OTOH, if he’s planning to upgrade to a larger house in the next 3-5 years, he may find out that he has built little or no equity, and that the large P&I+taxes+HOA have prevented him from building as large a nest egg as he could have by renting instead of buying. Plus, he’ll have to pay a 6% RE commission when trying to unload the place (not a big deal at all if he stays long enough).

My $0.02…

[Diego Mamani]

I’m glad I asked the “how much would it rent for today?” question. That brought interesting comments. Too bad we had some heated discussion… (reminds me of usenet groups in the early 1990s, like the OP, I find it amusing nonetheless).

So, it’d rent for $1800 today? Minus HOA, that leaves less than $1500, which is probably too low a return relative to the purchase price. If the OP really likes the place and plans on staying put for at least 7-10 years, then he’ll be OK.

OTOH, if he’s planning to upgrade to a larger house in the next 3-5 years, he may find out that he has built little or no equity, and that the large P&I+taxes+HOA have prevented him from building as large a nest egg as he could have by renting instead of buying. Plus, he’ll have to pay a 6% RE commission when trying to unload the place (not a big deal at all if he stays long enough).

My $0.02…

[Diego Mamani]

I’m glad I asked the “how much would it rent for today?” question. That brought interesting comments. Too bad we had some heated discussion… (reminds me of usenet groups in the early 1990s, like the OP, I find it amusing nonetheless).

So, it’d rent for $1800 today? Minus HOA, that leaves less than $1500, which is probably too low a return relative to the purchase price. If the OP really likes the place and plans on staying put for at least 7-10 years, then he’ll be OK.

OTOH, if he’s planning to upgrade to a larger house in the next 3-5 years, he may find out that he has built little or no equity, and that the large P&I+taxes+HOA have prevented him from building as large a nest egg as he could have by renting instead of buying. Plus, he’ll have to pay a 6% RE commission when trying to unload the place (not a big deal at all if he stays long enough).

My $0.02…

[Diego Mamani]

I’m glad I asked the “how much would it rent for today?” question. That brought interesting comments. Too bad we had some heated discussion… (reminds me of usenet groups in the early 1990s, like the OP, I find it amusing nonetheless).

So, it’d rent for $1800 today? Minus HOA, that leaves less than $1500, which is probably too low a return relative to the purchase price. If the OP really likes the place and plans on staying put for at least 7-10 years, then he’ll be OK.

OTOH, if he’s planning to upgrade to a larger house in the next 3-5 years, he may find out that he has built little or no equity, and that the large P&I+taxes+HOA have prevented him from building as large a nest egg as he could have by renting instead of buying. Plus, he’ll have to pay a 6% RE commission when trying to unload the place (not a big deal at all if he stays long enough).

My $0.02…

[Author]

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