Liz
|
It hasn't bottomed out yet but it is expected to. Housing prices may still drop between now and then. |
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estielmo
|
Don't over-buy. Don't use creative financing. Have a good down payment. Your timing depends on your local circumstances. I'd get a pre-approval to see what they'll lend you based on your income now (not projected wages) and see what you can afford. Always buy a lesser house in a better neighborhood. |
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Doctor Deth
|
do you have enough cash saved for 10-20% down payment and closing costs, inspections and loan app fees, etc? can you afford monthly mortgage payment, real estate taxes, homeowners insurance and PMI (if you put less than 20% down)?
do you have debts? credit cards? school loans? car loans? what is you household income?
these are the questions you need to have answers to |
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twilightlover
|
you should buy a house now because property is down right now. you should buy a small one if you don't have money for a big one. you should try to buy a house near your apt so your daughter can go to the same school. and probably she will miss out all the fun,you should move!
hope it worked |
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ylime320
 |
Interest rates are really low right now. If you can get a loan, do it! You'll definitely be able to get more for your money right now. People are really desperate to sell their houses; you're more likely to be able to negotiate with them too. I've read that the housing prices will continue to drop and be at their lowest around September 2009, but that's all speculation and the interest rates might go up by then. |
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xxjoebreadxx
|
No, by 2010 the market will probably be stable again. What I would do to compromise would be to rent a house in a nice area and make sure that the lease has a clause that will allow you to put an amount of your monthly rent payments towards the down payment of the house at the end of the lease. Then you don't have to worry about the loans (which are nearly impossible to get now) and you still can own your house. Win win. |
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d4nny
 |
wait
there is a crisis going on |
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NewlywedWifey
 |
Coming from someone in the mortgage industry.... more than likely the prices of homes will not be this low this time next year. I would recommend, if you have the funds available for it, go ahead now. At least this way once you go ahead and get something, you'll start building equity and by the time you are done with school you may have enough equity to move into something bigger. |
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oshkoshh bby
|
get your school cleared and out of the way first ./.
your fam should remain in the apt. too because until your able to get a full day job or w.e you have in mind you should keep what you already have. the houses will be on market still also dont worry bout that . for the next months or so you'd be fine.. kids come first right? well if so in your case , then your gonna do the right thing [= |
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PJ
|
I would wait until latae next year and see what happens. The market will continue to drop for at least the first six months of 2009. |
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Venus V
 |
if you want a place to live and get tax breaks on your mortgage buy one |
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Misty
|
It really is a buyers market right now. If you qualify for a loan there are some GREAT houses out there. Do a little research.... |
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Y!A..AKA Socialist Squad Leaders
|
i would buy a house now while all the interest rates are so darn low. if you wait too long you may miss the chance |
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Cameron D
 |
i would wait til after graduation so that everything is more secure in your life |
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PlNk pEaRlS
|
Can you afford to buy right now? Also, how much money in student loans have you accumulated over the years? If they're in differment right now, you'll get approved for more (but make sure you can afford it). They like you to have been at your job for a certain length of time, but if you are a new graduate & you get a job in the same field as you studied (nursing), they'll count your time in college as time on the job.
Now, if you're saying that next year you could afford a $300,000 home and this year you can afford a $80,000 home, I'd wait if I was you. |
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Stone Cold Steve Austin
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Ether do both get a house and graduated. |
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beamon5
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You shouldn't buy a house if you can't afford it. Are you working right now? How much money do you have saved up that you would be able to put into a down payment. Generally you should put down 20%. Talk to a mortgage company and see what kind of loan you could afford and then start looking at houses in your price range. |
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Jose M
 |
the economy is bad so u should way |
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debz07
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i think you should wait |
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