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andymajumder
ParticipantCouldn’t agree more….my problem is even my real estate agent sees things from a seller’s perspective, probably because she is a homeowner herself. Statements such as – “this home is a great deal” (just because its down 25% from 2005 peak but yet its twice 2001 price) and “we will be back to 2005 prices in about 5 yrs” were just too much for me. I just had to get rid of her….
ParticipantCouldn’t agree more….my problem is even my real estate agent sees things from a seller’s perspective, probably because she is a homeowner herself. Statements such as – “this home is a great deal” (just because its down 25% from 2005 peak but yet its twice 2001 price) and “we will be back to 2005 prices in about 5 yrs” were just too much for me. I just had to get rid of her….
ParticipantCouldn’t agree more….my problem is even my real estate agent sees things from a seller’s perspective, probably because she is a homeowner herself. Statements such as – “this home is a great deal” (just because its down 25% from 2005 peak but yet its twice 2001 price) and “we will be back to 2005 prices in about 5 yrs” were just too much for me. I just had to get rid of her….
ParticipantDefinitely can feel it….Obama gang has become more emboldened having passed the health care bill, more bailout programs being planned everyday. Probably unemployment benefits will be extended even longer and looks like those unemployed do not have to pay their mortages anymore. The incentive to work hard or try your utmost to find a job is not there anymore…it used to be you were forced to downsize if you lost your job, that doesn’t apply anymore. Hence, the incentive to save when you do have a good job is also being reduced. Cal state – probably bankrupt in real terms – announces more tax incentives for home buying…while cutting education budget, and every other thing. I thing we as a nationa have already accepted that we will not pay down our national debt anyway…so lets just spend as much we can.
ParticipantDefinitely can feel it….Obama gang has become more emboldened having passed the health care bill, more bailout programs being planned everyday. Probably unemployment benefits will be extended even longer and looks like those unemployed do not have to pay their mortages anymore. The incentive to work hard or try your utmost to find a job is not there anymore…it used to be you were forced to downsize if you lost your job, that doesn’t apply anymore. Hence, the incentive to save when you do have a good job is also being reduced. Cal state – probably bankrupt in real terms – announces more tax incentives for home buying…while cutting education budget, and every other thing. I thing we as a nationa have already accepted that we will not pay down our national debt anyway…so lets just spend as much we can.
ParticipantDefinitely can feel it….Obama gang has become more emboldened having passed the health care bill, more bailout programs being planned everyday. Probably unemployment benefits will be extended even longer and looks like those unemployed do not have to pay their mortages anymore. The incentive to work hard or try your utmost to find a job is not there anymore…it used to be you were forced to downsize if you lost your job, that doesn’t apply anymore. Hence, the incentive to save when you do have a good job is also being reduced. Cal state – probably bankrupt in real terms – announces more tax incentives for home buying…while cutting education budget, and every other thing. I thing we as a nationa have already accepted that we will not pay down our national debt anyway…so lets just spend as much we can.
ParticipantDefinitely can feel it….Obama gang has become more emboldened having passed the health care bill, more bailout programs being planned everyday. Probably unemployment benefits will be extended even longer and looks like those unemployed do not have to pay their mortages anymore. The incentive to work hard or try your utmost to find a job is not there anymore…it used to be you were forced to downsize if you lost your job, that doesn’t apply anymore. Hence, the incentive to save when you do have a good job is also being reduced. Cal state – probably bankrupt in real terms – announces more tax incentives for home buying…while cutting education budget, and every other thing. I thing we as a nationa have already accepted that we will not pay down our national debt anyway…so lets just spend as much we can.
ParticipantDefinitely can feel it….Obama gang has become more emboldened having passed the health care bill, more bailout programs being planned everyday. Probably unemployment benefits will be extended even longer and looks like those unemployed do not have to pay their mortages anymore. The incentive to work hard or try your utmost to find a job is not there anymore…it used to be you were forced to downsize if you lost your job, that doesn’t apply anymore. Hence, the incentive to save when you do have a good job is also being reduced. Cal state – probably bankrupt in real terms – announces more tax incentives for home buying…while cutting education budget, and every other thing. I thing we as a nationa have already accepted that we will not pay down our national debt anyway…so lets just spend as much we can.
ParticipantI am in the exact same situation as 1stimebuy (except for the kids, I have a one yr old), we may have put offers on the same house too. I too feel that I may have waited a bit too long and feels hopeless in these zip codes. There are no good deals right now and I am will not over-bid out of fear that there is another leg to fall in this housing crash and I will be underwater by the end of the year. Trying to be patient and hoping that the shadow inventory will eventually show up and force prices down to more reasonable levels….not too sure about these zip codes though…looks like all the tech employees (QCOM, Broadcom) target these areas and they do have decent purchasing power..
ParticipantI am in the exact same situation as 1stimebuy (except for the kids, I have a one yr old), we may have put offers on the same house too. I too feel that I may have waited a bit too long and feels hopeless in these zip codes. There are no good deals right now and I am will not over-bid out of fear that there is another leg to fall in this housing crash and I will be underwater by the end of the year. Trying to be patient and hoping that the shadow inventory will eventually show up and force prices down to more reasonable levels….not too sure about these zip codes though…looks like all the tech employees (QCOM, Broadcom) target these areas and they do have decent purchasing power..
ParticipantI am in the exact same situation as 1stimebuy (except for the kids, I have a one yr old), we may have put offers on the same house too. I too feel that I may have waited a bit too long and feels hopeless in these zip codes. There are no good deals right now and I am will not over-bid out of fear that there is another leg to fall in this housing crash and I will be underwater by the end of the year. Trying to be patient and hoping that the shadow inventory will eventually show up and force prices down to more reasonable levels….not too sure about these zip codes though…looks like all the tech employees (QCOM, Broadcom) target these areas and they do have decent purchasing power..
ParticipantI am in the exact same situation as 1stimebuy (except for the kids, I have a one yr old), we may have put offers on the same house too. I too feel that I may have waited a bit too long and feels hopeless in these zip codes. There are no good deals right now and I am will not over-bid out of fear that there is another leg to fall in this housing crash and I will be underwater by the end of the year. Trying to be patient and hoping that the shadow inventory will eventually show up and force prices down to more reasonable levels….not too sure about these zip codes though…looks like all the tech employees (QCOM, Broadcom) target these areas and they do have decent purchasing power..
ParticipantI am in the exact same situation as 1stimebuy (except for the kids, I have a one yr old), we may have put offers on the same house too. I too feel that I may have waited a bit too long and feels hopeless in these zip codes. There are no good deals right now and I am will not over-bid out of fear that there is another leg to fall in this housing crash and I will be underwater by the end of the year. Trying to be patient and hoping that the shadow inventory will eventually show up and force prices down to more reasonable levels….not too sure about these zip codes though…looks like all the tech employees (QCOM, Broadcom) target these areas and they do have decent purchasing power..
Participant“If you look at past cycles, once prices reverted to the mean they continued downward and over-corrected. There’s no reason not to expect that this time.”
Ideally, thats what you expect. But, its moves like this
http://www.thestreet.com/_yahoo/funds/etf-update/10410831.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
which has me worried. Congress and Fed seems to be hell bent on throwing as much money on Housing as possible to prevent itself from correcting. Its almost an all out war against renters and tempt them buy at any cost. I won’t be surprised if a new bill comes out which will add an additional tax if you are renting.:-)
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