 I have a question about buying a home for the first time? |
What are some of the steps in buying a home for the first time. What things do I need and how does it work?
Additional Details
Thanks Bj80012.. so far.. that is a start..... |
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 Apartment living, how can you stand it? |
I look at vision of people living in high rise apartments all over the world, having to get lifts to and from their front doors to the street.
I'd hate not being able to walk out my front ... |
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 My car was hit in my driveway by the renter next door. Can I put a lien on the landlord's home? |
| The renter next door to me hit my car (1000 damage) and has no money. My car was in my driveway and he is renting the duplex next to me. Is his landlord responsible, can I put a lien on his duplex? ... |
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 My husband and i have poor credit and must buy our house within 15 months. any suggestions on the best loan co |
| both credit scores are under 550. we have it now thru the real estate agent on lease to purchase within 15 months but i am nervous we wont be able to. i've tried just about everything but i am ... |
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 If someone buys a rental property that currently has tenants, does the new owner have to keep the tenants? |
| My husband and I are looking in to buying a 7 unit townhouse style rental property -- it is currently fully rented, however, we were looking at purchasing it so that we could convert three (or 4) of ... |
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 Are there any home builders that should be avoided at all costs? |
| I am getting ready to buy my first house and I heard some are better than others. Are there any that should never be bought from?... |
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 How much would I have to put down on a house for mortgage company to ignore my credit? |
| I have some blemishes on my credit score, last time I checked it was in the mid-high 500's. I'm looking at buying a house and I'm curious about how much I can put down on the house ... |
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 What are things I neede to know about being a Landlord? |
| My husband and I are being given a 3 flat rental property in Chicago. We will live in one unit and have two units rented. Prior to this transaction I would like to know from you professional ... |
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 Is it common for a real estate agent to take pictures while previewing a property? |
Additional Details
What I mean is: Is it normal for a buyer's agent, not a listing agent, to take pictures when previewing my property for a potential client?... |
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 Can We Lock Out Tenant? |
| We currently rent out a commercial property and have a tenant that has not paid rent in 4 months. Can we lock them out prior to a court date, in order to protect our property? We are concerned that ... |
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 The $700bln bail out, Where will the money be spent ? |
| i know that some of the money would be used to nationalise financial institutions, to safe guard peoples mortgages and deposits, but what about the rest, and i heard that the 700bln package was given ... |
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 Can i use security deposit for last month rent? |
| I know that people do it all the time but if i use security deposit as last month rent can landlord still come after me or sue me for last month rent, even tho she hasn't lost anything out of it,... |
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Hanna S | Per the news, the housing market may drop 20%-30% in 2008. Wait for prices to drop or buy now? |
Reuters, Yahoo. News, local newspaper |
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budhah1
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Today on cnbc they are saying that the int rate will drop another point.. if you are not in a hurry, just wait.. |
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Real Estate Guy
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since 2005 the press has said this. Guess what, it hasn't happen. In fact, in some areas, prices have increased.
Plus if rates increase, which they have in the past month, and "savings" you get with a lower price is taken away by higher monthly payments. |
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hollygosassy
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I would not buy now. Things are going to get worse, unless you are talking to a Real Estate agent.
My husband and I have saved a lot of money staying out of the buying and selling at the right times. We have been looking at a site by a guy named Patrick, it may be "Patrick.net," I'm not sure. Even while the real estate companies kept the media saying everything was great, Patrick would give the real scoop. We've learned a lot, and we are the only ones in our family that were not hit hard by all the lies. What everyone forgets is the real estate companies have a lot to gain by keeping us in the dark, and a LOT of money to buy off the media. I would research the Patrick site, before I make a move. The nice thing is he has the real statistics and graphs, without all the interpretation from the media. The bare truth helped us make our decisions. Also, we found that www.forsalebyowner.com and Help-U-Sell type sights sometimes have friendly people who will answer your questions for free. It's a crusade of mine to see no one else be taken like my siblings did. Independent research is key. Never trust someone that has thousands to gain from their lies. That most often means lenders and real estate associations. Knowing the numbers is one step, knowing when to buy and sell, and how, is the next. Good luck! |
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rhsaunders
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Depends on where you are. In Seattle, buy now. In Detroit, wait. |
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MikeHaleHomes
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What are prices doing in YOUR area? I don;t buy into the doom & gloom of the media. The county I live in proces actually rose 2% in 2007 vs 2006. All markets are local.
The overall market was atrificialy inflated (mainly due to a class of buyers that previously would not have gotten loans, combined with speculation) and prices reached a level the market couldnt support and it corrected itself.
Once prices (in general) are low enough it will rebound. I'm sure there are some severly hit areas that may drop 20-30%, but I doubt you'll see that to any great degree. |
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kemperk
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where, what price?
every year, county treasurers have
real estate tax foreclosure sales.
Check them out as part of your
house searching. |
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ekcnho
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I don't think too many, if any, markets will drop 30% this year. Actually I think there is some evidence that activity is starting to tick up a little. By the time, the national media says the market has hit bottom, you will have missed the bottom. The only group good at picking bottoms are monkeys. If you like a house and can afford it and can afford to take a 10% hit in value which will take 3 or 4 years to recover (and you plan to be there). I'd say buy the house. Bargain hard though (read lowball), because I think it is a buyer's market almost everywhere right now. Also, look at prior sales on the property and if the property is priced anywhere near it sold for in 2002 or 2003, you should be pretty good. Also, look for the pattern, has it run way up and now is being offered for quite a bit less than the last sale? I think you can make smart real estate purchases in this market. |
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jestduck1
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In the Chippewa Valley, we have actually seen an INCREASE in home sales and values - completely opposite what the national media keeps touting as an absolute truth everywhere.
The truth is, you need to contact a Realtor local to your area and find out from her or him what your particular market is doing.
Now is a great time to buy, with interest rates low and several markets having an increase in forclosures and short sales.
Good luck with your new home adventure! |
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kckid2
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20-30%? I doubt that. But if you believe it, then waiting would seem to be the obvious choice.
Another option is to rent with an option to buy. You lock in your price and if the market tanks, you walk. No muss no fuss. |
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Jeff
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I wouldn't be trying to flip houses any time soon.
But, if you're looking to buy a primary residence that you'll be staying in for 20 years, what the falling prices mean is that you have time to get your finances in tip-top shape while you're looking for a house. |
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