[Ren]

Beyond a certain point, I believe the only thing that will improve a score is the age of accounts in good standing, and it looks like you’re pretty close to that point. In other words, you may not be able to do much (if anything) to raise it, but as it is, you should be able to get the best financing available. You’ll still need to shop around for the best APR, of course.

[Ren]

Beyond a certain point, I believe the only thing that will improve a score is the age of accounts in good standing, and it looks like you’re pretty close to that point. In other words, you may not be able to do much (if anything) to raise it, but as it is, you should be able to get the best financing available. You’ll still need to shop around for the best APR, of course.

[Ren]

If 125 can get into a primary residence, and possibly even subsidize his mortgage with a roommate or two, why would you all try and Tell him to time the market?

How about to save well over a hundred grand?

Prices are already well off their highs

Not in 4S they’re not.

…and there truly is no way to know when the bottom has hit until it has already passed.

Not entirely true. We know approximately where prices should be. The market turns so slowly that it will likely be pretty obvious when things have settled close to that point (or even slightly above would be fine), and people will have plenty to choose from and plenty of time to shop around. And when it finally does turn upward, it won’t be the rocketship it was, so there really is no hurry.

[Ren]

If 125 can get into a primary residence, and possibly even subsidize his mortgage with a roommate or two, why would you all try and Tell him to time the market?

How about to save well over a hundred grand?

Prices are already well off their highs

Not in 4S they’re not.

…and there truly is no way to know when the bottom has hit until it has already passed.

Not entirely true. We know approximately where prices should be. The market turns so slowly that it will likely be pretty obvious when things have settled close to that point (or even slightly above would be fine), and people will have plenty to choose from and plenty of time to shop around. And when it finally does turn upward, it won’t be the rocketship it was, so there really is no hurry.

[Ren]

If 125 can get into a primary residence, and possibly even subsidize his mortgage with a roommate or two, why would you all try and Tell him to time the market?

How about to save well over a hundred grand?

Prices are already well off their highs

Not in 4S they’re not.

…and there truly is no way to know when the bottom has hit until it has already passed.

Not entirely true. We know approximately where prices should be. The market turns so slowly that it will likely be pretty obvious when things have settled close to that point (or even slightly above would be fine), and people will have plenty to choose from and plenty of time to shop around. And when it finally does turn upward, it won’t be the rocketship it was, so there really is no hurry.

[Ren]

If 125 can get into a primary residence, and possibly even subsidize his mortgage with a roommate or two, why would you all try and Tell him to time the market?

How about to save well over a hundred grand?

Prices are already well off their highs

Not in 4S they’re not.

…and there truly is no way to know when the bottom has hit until it has already passed.

Not entirely true. We know approximately where prices should be. The market turns so slowly that it will likely be pretty obvious when things have settled close to that point (or even slightly above would be fine), and people will have plenty to choose from and plenty of time to shop around. And when it finally does turn upward, it won’t be the rocketship it was, so there really is no hurry.

[Ren]

If 125 can get into a primary residence, and possibly even subsidize his mortgage with a roommate or two, why would you all try and Tell him to time the market?

How about to save well over a hundred grand?

Prices are already well off their highs

Not in 4S they’re not.

…and there truly is no way to know when the bottom has hit until it has already passed.

Not entirely true. We know approximately where prices should be. The market turns so slowly that it will likely be pretty obvious when things have settled close to that point (or even slightly above would be fine), and people will have plenty to choose from and plenty of time to shop around. And when it finally does turn upward, it won’t be the rocketship it was, so there really is no hurry.

[Ren]

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere.

I laughed out loud at this. You say it like he would actually be building equity from the start.

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

How is buying on the downside and watching a $120k down payment evaporate in two years a “good decision”? Why NOT wait until prices level out, when you can save that $120k and tens of thousands more by renting and live exactly the same lifestyle, and then have a larger down payment on a cheaper house and have actual equity from the beginning?

Personally, the satisfaction of ownership is not a good enough reason to make the decision to buy now. The pros of waiting so far outweigh the cons that it’s not even a question for me.

[Ren]

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere.

I laughed out loud at this. You say it like he would actually be building equity from the start.

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

How is buying on the downside and watching a $120k down payment evaporate in two years a “good decision”? Why NOT wait until prices level out, when you can save that $120k and tens of thousands more by renting and live exactly the same lifestyle, and then have a larger down payment on a cheaper house and have actual equity from the beginning?

Personally, the satisfaction of ownership is not a good enough reason to make the decision to buy now. The pros of waiting so far outweigh the cons that it’s not even a question for me.

[Ren]

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere.

I laughed out loud at this. You say it like he would actually be building equity from the start.

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

How is buying on the downside and watching a $120k down payment evaporate in two years a “good decision”? Why NOT wait until prices level out, when you can save that $120k and tens of thousands more by renting and live exactly the same lifestyle, and then have a larger down payment on a cheaper house and have actual equity from the beginning?

Personally, the satisfaction of ownership is not a good enough reason to make the decision to buy now. The pros of waiting so far outweigh the cons that it’s not even a question for me.

[Ren]

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere.

I laughed out loud at this. You say it like he would actually be building equity from the start.

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

How is buying on the downside and watching a $120k down payment evaporate in two years a “good decision”? Why NOT wait until prices level out, when you can save that $120k and tens of thousands more by renting and live exactly the same lifestyle, and then have a larger down payment on a cheaper house and have actual equity from the beginning?

Personally, the satisfaction of ownership is not a good enough reason to make the decision to buy now. The pros of waiting so far outweigh the cons that it’s not even a question for me.

[Ren]

125, the only way you will me able to build equity and leverage up into larger homes is to start somewhere.

I laughed out loud at this. You say it like he would actually be building equity from the start.

Or you can just rent like all these others and spend your time on this board trying to convince others not to make a good decision.

How is buying on the downside and watching a $120k down payment evaporate in two years a “good decision”? Why NOT wait until prices level out, when you can save that $120k and tens of thousands more by renting and live exactly the same lifestyle, and then have a larger down payment on a cheaper house and have actual equity from the beginning?

Personally, the satisfaction of ownership is not a good enough reason to make the decision to buy now. The pros of waiting so far outweigh the cons that it’s not even a question for me.

[Ren]

I am in the same boat as all you guys. I am currently renting but the wife would like to purchase a property soon in the next couple months because she thinks the RE will get better soon. She said you can’t time the bottom but at least get it at the low end and we plan to stay at the home for long term.

I show my (pregnant, nesting) wife real world examples. I managed to convince her over a year ago not to buy until 2009 at the soonest, and now I’m able to show her what would have happened otherwise. If we had bought a particular place 18 months ago for $500k with $100k down, that $100k would have evaporated by now. Then I show her an endless stream of articles written by experts that aren’t out for your money (i.e., no RE agents or mortgage brokers), all saying it would be a horrible mistake to buy now. If she still insists, put your foot down. It’s your money too (whether you earned it or not), and you need to flat out refuse to throw it away.

I’ve found that the people who think the market is going to go up any second simply aren’t educating themselves about it, either because they’re in denial or just plain lazy.

[Ren]

I am in the same boat as all you guys. I am currently renting but the wife would like to purchase a property soon in the next couple months because she thinks the RE will get better soon. She said you can’t time the bottom but at least get it at the low end and we plan to stay at the home for long term.

I show my (pregnant, nesting) wife real world examples. I managed to convince her over a year ago not to buy until 2009 at the soonest, and now I’m able to show her what would have happened otherwise. If we had bought a particular place 18 months ago for $500k with $100k down, that $100k would have evaporated by now. Then I show her an endless stream of articles written by experts that aren’t out for your money (i.e., no RE agents or mortgage brokers), all saying it would be a horrible mistake to buy now. If she still insists, put your foot down. It’s your money too (whether you earned it or not), and you need to flat out refuse to throw it away.

I’ve found that the people who think the market is going to go up any second simply aren’t educating themselves about it, either because they’re in denial or just plain lazy.

[Ren]

I am in the same boat as all you guys. I am currently renting but the wife would like to purchase a property soon in the next couple months because she thinks the RE will get better soon. She said you can’t time the bottom but at least get it at the low end and we plan to stay at the home for long term.

I show my (pregnant, nesting) wife real world examples. I managed to convince her over a year ago not to buy until 2009 at the soonest, and now I’m able to show her what would have happened otherwise. If we had bought a particular place 18 months ago for $500k with $100k down, that $100k would have evaporated by now. Then I show her an endless stream of articles written by experts that aren’t out for your money (i.e., no RE agents or mortgage brokers), all saying it would be a horrible mistake to buy now. If she still insists, put your foot down. It’s your money too (whether you earned it or not), and you need to flat out refuse to throw it away.

I’ve found that the people who think the market is going to go up any second simply aren’t educating themselves about it, either because they’re in denial or just plain lazy.

[Author]

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