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Participant[quote=no_such_reality]I would buying a house you love can be very bad.
Buying a house you can readily afford that fills your needs is important. Buying a house you love should be left to the financially independent as their price tags and maintenance needs tend to push the envelope.
The best time to buy depends more on you than the market. Buy when your finances are strong, your income stream known and predictable and your family situation is predictable. You match that against prices, financing costs and quality of the for sale and rental markets and rents.
[/quote]I agree with all of this — except for this: find a place you love! Or can appreciate, at least. Also, I’d try to come away with a purchase price that brings down the average closed prices vs. list. You can see here why the market is so tight. On the surface, its good for buyers… but have fun trying to find something in the sweet spot!
January 19, 2011 at 10:40 AM in reply to: Make an offer on a house that you backed out earlier #655846ParticipantJust do it. Let go of the “personal.” If they reject it, they reject it. Until the deal is finalized, its up to the buyer as to how much they want to spend. The seller just decides how much they’ll accept. Your agent better not be giving you grief. If they do, I’d find another more competent agent. They should say, “well, here’s how it might be received… but I’ll do everything I can to put this offer in the most favorable light possible.” They should jump at any chance to “earn” their money.
If you really want it and they won’t deal with you, then lesson learned by you. Unfortunately, the sellers wouldn’t have learned anything. In this market, I’d take a reasonable offer if I needed to sell.
No point in bidding against yourself with a moderate initial offer.
January 19, 2011 at 10:40 AM in reply to: Make an offer on a house that you backed out earlier #655907ParticipantJust do it. Let go of the “personal.” If they reject it, they reject it. Until the deal is finalized, its up to the buyer as to how much they want to spend. The seller just decides how much they’ll accept. Your agent better not be giving you grief. If they do, I’d find another more competent agent. They should say, “well, here’s how it might be received… but I’ll do everything I can to put this offer in the most favorable light possible.” They should jump at any chance to “earn” their money.
If you really want it and they won’t deal with you, then lesson learned by you. Unfortunately, the sellers wouldn’t have learned anything. In this market, I’d take a reasonable offer if I needed to sell.
No point in bidding against yourself with a moderate initial offer.
January 19, 2011 at 10:40 AM in reply to: Make an offer on a house that you backed out earlier #656505ParticipantJust do it. Let go of the “personal.” If they reject it, they reject it. Until the deal is finalized, its up to the buyer as to how much they want to spend. The seller just decides how much they’ll accept. Your agent better not be giving you grief. If they do, I’d find another more competent agent. They should say, “well, here’s how it might be received… but I’ll do everything I can to put this offer in the most favorable light possible.” They should jump at any chance to “earn” their money.
If you really want it and they won’t deal with you, then lesson learned by you. Unfortunately, the sellers wouldn’t have learned anything. In this market, I’d take a reasonable offer if I needed to sell.
No point in bidding against yourself with a moderate initial offer.
January 19, 2011 at 10:40 AM in reply to: Make an offer on a house that you backed out earlier #656644ParticipantJust do it. Let go of the “personal.” If they reject it, they reject it. Until the deal is finalized, its up to the buyer as to how much they want to spend. The seller just decides how much they’ll accept. Your agent better not be giving you grief. If they do, I’d find another more competent agent. They should say, “well, here’s how it might be received… but I’ll do everything I can to put this offer in the most favorable light possible.” They should jump at any chance to “earn” their money.
If you really want it and they won’t deal with you, then lesson learned by you. Unfortunately, the sellers wouldn’t have learned anything. In this market, I’d take a reasonable offer if I needed to sell.
No point in bidding against yourself with a moderate initial offer.
January 19, 2011 at 10:40 AM in reply to: Make an offer on a house that you backed out earlier #656972ParticipantJust do it. Let go of the “personal.” If they reject it, they reject it. Until the deal is finalized, its up to the buyer as to how much they want to spend. The seller just decides how much they’ll accept. Your agent better not be giving you grief. If they do, I’d find another more competent agent. They should say, “well, here’s how it might be received… but I’ll do everything I can to put this offer in the most favorable light possible.” They should jump at any chance to “earn” their money.
If you really want it and they won’t deal with you, then lesson learned by you. Unfortunately, the sellers wouldn’t have learned anything. In this market, I’d take a reasonable offer if I needed to sell.
No point in bidding against yourself with a moderate initial offer.
ParticipantWhen I was freaking out, everyone in my family told me stories of their freak-outs when they bought their first house in San Diego – in the 50s, 70s, etc. My grandpa said he didn’t sleep for 2 years after buying their place in Del Mar for $42k in 1971. He sleeps pretty well now.
ParticipantWhen I was freaking out, everyone in my family told me stories of their freak-outs when they bought their first house in San Diego – in the 50s, 70s, etc. My grandpa said he didn’t sleep for 2 years after buying their place in Del Mar for $42k in 1971. He sleeps pretty well now.
ParticipantWhen I was freaking out, everyone in my family told me stories of their freak-outs when they bought their first house in San Diego – in the 50s, 70s, etc. My grandpa said he didn’t sleep for 2 years after buying their place in Del Mar for $42k in 1971. He sleeps pretty well now.
ParticipantWhen I was freaking out, everyone in my family told me stories of their freak-outs when they bought their first house in San Diego – in the 50s, 70s, etc. My grandpa said he didn’t sleep for 2 years after buying their place in Del Mar for $42k in 1971. He sleeps pretty well now.
ParticipantWhen I was freaking out, everyone in my family told me stories of their freak-outs when they bought their first house in San Diego – in the 50s, 70s, etc. My grandpa said he didn’t sleep for 2 years after buying their place in Del Mar for $42k in 1971. He sleeps pretty well now.
ParticipantAh, we (first time buyers, waiting & watching for about 7 years) closed last month and I remember a freak out moment in early November when we locked in our loan rate. It wasn’t so much the rate (which is quite low), but the “timeline” and trajectory toward finality that it put us on. This was really happening, and we were going to be on a budget unlike the one we lived under as renters.
When you decide to buy – which for us meant we loved the house, could afford the payments on a fixed rate mortgage, and it was big enough that we wouldn’t “grow out of it” with two small children – then I think you have to exit the “bearish analyst mindset” and just live in the house and don’t worry about value. In this market, if you can find a house that you can enjoy and live in for at least 10 years, there are a lot of good deals out there. But its a long term strategy. Stop worrying about value and live in a house you like and can afford.
In escrow, I remember watching “The Road” based on the novel by Cormac McCarthy, and thinking, “I could end up like this guy if I buy this house!” Pretty silly. Send the “gold and ammo” Armageddon thinking that streams through the hysterical blogosphere back where it came from: some sorry-a$$ cubicle.
ParticipantAh, we (first time buyers, waiting & watching for about 7 years) closed last month and I remember a freak out moment in early November when we locked in our loan rate. It wasn’t so much the rate (which is quite low), but the “timeline” and trajectory toward finality that it put us on. This was really happening, and we were going to be on a budget unlike the one we lived under as renters.
When you decide to buy – which for us meant we loved the house, could afford the payments on a fixed rate mortgage, and it was big enough that we wouldn’t “grow out of it” with two small children – then I think you have to exit the “bearish analyst mindset” and just live in the house and don’t worry about value. In this market, if you can find a house that you can enjoy and live in for at least 10 years, there are a lot of good deals out there. But its a long term strategy. Stop worrying about value and live in a house you like and can afford.
In escrow, I remember watching “The Road” based on the novel by Cormac McCarthy, and thinking, “I could end up like this guy if I buy this house!” Pretty silly. Send the “gold and ammo” Armageddon thinking that streams through the hysterical blogosphere back where it came from: some sorry-a$$ cubicle.
ParticipantAh, we (first time buyers, waiting & watching for about 7 years) closed last month and I remember a freak out moment in early November when we locked in our loan rate. It wasn’t so much the rate (which is quite low), but the “timeline” and trajectory toward finality that it put us on. This was really happening, and we were going to be on a budget unlike the one we lived under as renters.
When you decide to buy – which for us meant we loved the house, could afford the payments on a fixed rate mortgage, and it was big enough that we wouldn’t “grow out of it” with two small children – then I think you have to exit the “bearish analyst mindset” and just live in the house and don’t worry about value. In this market, if you can find a house that you can enjoy and live in for at least 10 years, there are a lot of good deals out there. But its a long term strategy. Stop worrying about value and live in a house you like and can afford.
In escrow, I remember watching “The Road” based on the novel by Cormac McCarthy, and thinking, “I could end up like this guy if I buy this house!” Pretty silly. Send the “gold and ammo” Armageddon thinking that streams through the hysterical blogosphere back where it came from: some sorry-a$$ cubicle.
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