chatsplas
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You're right, your realtor is just starving to death because the home market is so poor, and eager for a sale, any sale/purchase. Avoid paying all that PMI. Save up your down payment!
Housing market is lousy and won't have recovered in 6 months, may even continue sliding. So you will still have lots of home choices available (maybe even cheaper) and end up building equity instead of paying PMI and interest. Make sure you work on your credit, also. Pay everything on time, pay down your credit card bills, pay off your credit cards, reduce the number of open credit cards. Above all, don't buy more home than you can easily afford--1/4 your monthly income for mortgage (principal & interest), insurance and real estate taxes. No more than 1/3 when you add in utilities. |
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Liz
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Since the realtor stands to make money if you buy I would take what he says with a grain of salt. Your idea of waiting sounds like a sensible one. |
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What's Up?
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BEST TO WAIT! DON'T ALLOW THE REAL ESTATE AGENT TO PRESSURE YOU INTO THIS PREMATURELY! ON THE OTHER HAND FOR THE NEXT SIX MONTHS YOU WOULD BE ABLE TO APPLY ALL OF THAT RENT MONEY TO THE HOUSE. SEND ME AN EMAIL BECAUSE I HAVE SOME OTHER ADVICE |
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Landlord
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You should wait. You will save yourself a lot of money.
Also, get yourself another agent, this one is obsessed with getting to closing ASAP, and not concerned about what is best for you.
Find one who is sincere and wants to help you. |
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Rico
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Now is the time to buy, but only if you fall in love with the property. You could get the house at a lower price now, then if it goes up in a few years you can request to remove the pmi. Just don't make a decision based solely on the advice of a realtor. This is a BUYER'S MARKET and you are in the driver's seat. It may not be this good again for a very long time. |
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Jim360
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Wait. Don't pay PMI if you can hang on renting for 6 more months. Take your time and find a place you really like and fits your budget. This will be your "starter house" so its ok to settle a little.
Don't let your Realtor put an ounce of pressure on you - as previously mentioned, realtors make money when you buy and want to get you in a house asap so they don't loose you down the road to another realtor.
Couple things:
Don't forget it may cost you if you have to break a lease.
Save for moving expenses
Get a great home inspector - NOT one the realtor recommends! |
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superbatmandogs
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Wait! Its the realtors job to push you to buy. Wouldn't you like to be able to afford to enjoy your home more? Renovations, furniture, toys. Unless the market looks like it is going up an up with no end. If its stable and prices have been the same yes wait. |
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dkmch749
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Do you know for SURE that in 6 months you would make out better and save more money then, or is that sort of a gamble because you don't know what interest rates will be like. There's alot of different possible financial changes in every aspect of buying a house. I guess it's a gamble and you will have to do whatever you think will be the best financial choice for you personally. |
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Ryan
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Do not buy the house. The housing market is still falling steadily, and prices are only going to get lower. If you've got stable income, hold off as long as possible so you can put down as much as you can for a house. The longer you wait, and the more you have, the less you'll have to borrow. The less you borrow, the lower your payments, and the lower your interest rate is going to be. In the end, you will save thousands, if not tens of thousands. |
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David A
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maybe your realtor is telling you something if you buy the price is high instead of waiting 6 months down the line when it might be very low so i think you might want to wait for 6 months whats that and maybe it'll go down and save you a bunch of money |
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jordan98
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go ahead and buy the house, you're wasting money renting |
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Shirley T
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I would strongly agree with your realtor, the time to buy is now, the market is way down. In 6 months it can boom, you never know it is a gamble. But you at least have a safe bet right now with it being so low. |
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hotsuz21
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right now is the best time to buy a home because of the economy. You have million dollar house for half the price. you can buy a home for really cheap now. good luck |
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Mary Ann C
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buy the house youll love it after living there awhile!
my mom always said buying is better than renting! |
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cheesus
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Buy a house. |
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