[Ren]

[quote=carlsbadworker]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
[/quote]

We’ll qualify for any mortgage, but our thinking is now this – since the market will likely still have a way to fall and this will be our first place, we’ll get a 3% FHA loan anyway, so we’ll only lose the $10-15k down. As long as the payment is less than it would take to rent an equivalent place, I’ll be happy. I think there will be a lot of those to choose from next year.

[Ren]

[quote=carlsbadworker]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
[/quote]

We’ll qualify for any mortgage, but our thinking is now this – since the market will likely still have a way to fall and this will be our first place, we’ll get a 3% FHA loan anyway, so we’ll only lose the $10-15k down. As long as the payment is less than it would take to rent an equivalent place, I’ll be happy. I think there will be a lot of those to choose from next year.

[Ren]

[quote=carlsbadworker]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
[/quote]

We’ll qualify for any mortgage, but our thinking is now this – since the market will likely still have a way to fall and this will be our first place, we’ll get a 3% FHA loan anyway, so we’ll only lose the $10-15k down. As long as the payment is less than it would take to rent an equivalent place, I’ll be happy. I think there will be a lot of those to choose from next year.

[Ren]

[quote=carlsbadworker]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
[/quote]

We’ll qualify for any mortgage, but our thinking is now this – since the market will likely still have a way to fall and this will be our first place, we’ll get a 3% FHA loan anyway, so we’ll only lose the $10-15k down. As long as the payment is less than it would take to rent an equivalent place, I’ll be happy. I think there will be a lot of those to choose from next year.

[Ren]

[quote=carlsbadworker]
By the way, the lending standard is tightening. So if you don’t have 20%+ down, good credit score etc, you theoretically will be “priced out forever” soon. So for some people, it does make sense to jump in while they still can. In real estate, a lower price does not always mean affordablity will improve.
[/quote]

We’ll qualify for any mortgage, but our thinking is now this – since the market will likely still have a way to fall and this will be our first place, we’ll get a 3% FHA loan anyway, so we’ll only lose the $10-15k down. As long as the payment is less than it would take to rent an equivalent place, I’ll be happy. I think there will be a lot of those to choose from next year.

[Ren]

There are millions of people that still have a bubble mentality, nervously ready to pounce at what looks like the bottom to them, because they think the market will suddenly change direction and rocket upwards – leaving them “priced out forever.” Those people are helping drive prices down, and therefore are our friends 🙂

I’m even more relaxed and sure about the direction of the market now than I was in 2006. I was planning on buying this winter, but now I may hold off until late 2009.

[Ren]

There are millions of people that still have a bubble mentality, nervously ready to pounce at what looks like the bottom to them, because they think the market will suddenly change direction and rocket upwards – leaving them “priced out forever.” Those people are helping drive prices down, and therefore are our friends 🙂

I’m even more relaxed and sure about the direction of the market now than I was in 2006. I was planning on buying this winter, but now I may hold off until late 2009.

[Ren]

There are millions of people that still have a bubble mentality, nervously ready to pounce at what looks like the bottom to them, because they think the market will suddenly change direction and rocket upwards – leaving them “priced out forever.” Those people are helping drive prices down, and therefore are our friends 🙂

I’m even more relaxed and sure about the direction of the market now than I was in 2006. I was planning on buying this winter, but now I may hold off until late 2009.

[Ren]

There are millions of people that still have a bubble mentality, nervously ready to pounce at what looks like the bottom to them, because they think the market will suddenly change direction and rocket upwards – leaving them “priced out forever.” Those people are helping drive prices down, and therefore are our friends 🙂

I’m even more relaxed and sure about the direction of the market now than I was in 2006. I was planning on buying this winter, but now I may hold off until late 2009.

[Ren]

There are millions of people that still have a bubble mentality, nervously ready to pounce at what looks like the bottom to them, because they think the market will suddenly change direction and rocket upwards – leaving them “priced out forever.” Those people are helping drive prices down, and therefore are our friends 🙂

I’m even more relaxed and sure about the direction of the market now than I was in 2006. I was planning on buying this winter, but now I may hold off until late 2009.

[Ren]

Just keep in mind that rent rates may drop a bit as well. Just because it’s break-even now, doesn’t mean it will be in a few years. Also you need to consider vacancies when calculating rent income. Personally, I would prefer a lot more breathing room.

[Ren]

Just keep in mind that rent rates may drop a bit as well. Just because it’s break-even now, doesn’t mean it will be in a few years. Also you need to consider vacancies when calculating rent income. Personally, I would prefer a lot more breathing room.

[Ren]

Just keep in mind that rent rates may drop a bit as well. Just because it’s break-even now, doesn’t mean it will be in a few years. Also you need to consider vacancies when calculating rent income. Personally, I would prefer a lot more breathing room.

[Ren]

Just keep in mind that rent rates may drop a bit as well. Just because it’s break-even now, doesn’t mean it will be in a few years. Also you need to consider vacancies when calculating rent income. Personally, I would prefer a lot more breathing room.

[Ren]

Just keep in mind that rent rates may drop a bit as well. Just because it’s break-even now, doesn’t mean it will be in a few years. Also you need to consider vacancies when calculating rent income. Personally, I would prefer a lot more breathing room.

[Author]

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