1. What is the price appreciation in the area you are looking for the last two years ? If it’s between 100k - 200k I would advise caution but if it’s 50-70k then it’s not a bad idea to buy now.

  2. Remember if you keep running you credit check frequently that will lower your score as well

  3. But some real estate agent on Instagram said to “buy high with a tiny down payment and refinance for a better rate later.” Who to trust…

  4. You don’t trust anyone, you take all information in and do your own assessment then decide what make sense and what doesn’t.

  5. Here’s the thing. You have way more negotiating power and prices are lower right now than when rates are in 4s. Also you get to write all the interest off on taxes whether it’s 6 or 4 so it will be cheaper once you do your taxes to own than rent. Not to mention you get the house for cheaper now and refinance when rates come back down and your house is appreciating again.

  6. If paying my landlords make me save 500 per month, sounds good to me. Renting only makes sense when the interest rate is above 6 but when it’s at 4 then buying make more sense to me. Like I said I was looking where’s the most bang for my buck is.

  7. If your friend needs a co-signer then he is either not making enough money or not handing his credit well. So …

  8. This house is not yet sold, DOM 52. I wonder why 🤔

  9. I'm not gonna keep debating comps til the cows come home, but the data in the link you posted included the basement in GLA. That home has 3950 sf GLA, a dated pool, and was poorly marketed. It was never worth the 1.1M asking price. If you overprice it you're dooming your bottom line. It still sold for 224/sf. They could've staged and prepped it to bring it out of 2004, priced it right to get more than they got, but not 1.1M.

  10. This house is not yet sold, DOM 52. I wonder why 🤔

  11. Why do people care what happens to their house after they sell it? I don’t understand.

  12. My wife and I purchased our primary home in March of this year when bidding wars were still happening. The home we found had already been listed about 30 days when we made an offer thinking it would be turned down. After looking at the house and meeting the owner we found out that our offer was accepted because she had turned down multiple corporations buying the home. The first owner of this 1987 built home wanted another growing family to live in this house and she turned down multiple higher offers because of this.

  13. God Bless that owner. I hope you do the same if time comes. We have to take care of each other as the Corps will never do

  14. If it makes you feel better I’m 35 of age 150k+ income, not owning my house yet.

  15. Some family reasons. Basically when I wasn’t ready there were great opportunities in the housing market but when I’m ready to buy now not at all.

  16. Unfortunately it’s not just you everyone wants less commute. So if you commute to a city where a whole lot of people work, you will always have difficulty finding a property near your workplace. So keep that in mind while making decision

  17. Agree it’s funny 😆 I’m against it but it’s funny

  18. Will your realtor be there for you if the rate is higher than today when that time comes ?

  19. The next hike is expected to be a 50 basis point increase in December. That 50 basis points is priced into the futures market. What is not priced in is if that hike changed to a 75 basis point.

  20. Fed raising interest rate has no immediate impact on rates but eventually it will. Credit card/auto loans/small loans feel the impact immediately

  21. All the houses that are currently listed 50-70k below guesstimates(zestimate) are selling quickly. Price aggressively keeping interest rate in mind, thinking if you were a buyer what will be the maximum monthly payment will you be ready to pay if you were the buyer.

  22. What I noticed they only censor the data that they don’t want you see while making decisions. something like house was previously listed 2years ago 200k less than now.

  23. Trying to hide the true value of the home. Shady stuff.

  24. They just want to hide their embarrassment 😂

  25. If the buyer has to sell now that is their own damn fault. Houses are not stocks. You don’t day trade them.

  26. No one would want to sell in their right unless they have to. The reason I got know about this house because when I posted this

  27. It is extremely naive to think that you wouldn’t be selling at a loss if you had to turn around and sell in a short period of time from buying. As many noted in your other post it was clear that the increase in price on that one was to cover the cost of selling. You’re being very unrealistic. Buying a house is always going to be at least a slight risk in the short term of something bad happening beyond one’s control.

  28. You misunderstood me I know if you buy/sell in such a short window chances of losses is definitely high. Read my post again where I said prices not going to keep appreciating just because some realtors said so. Life is life make choices wisely

  29. Rather than focusing on the house focus on your career, I came to US in 2014 and while working as a teller in a bank, realized that 20-30k income not good enough for me so started learning software engineering, did few classes in person with my mentor and In year 2017 got my 110k job in IT and now 150k.

  30. Thanks for sharing this. I had not heard this before, but I have heard a LOT of. “You can always just refi later.”

  31. You are welcome I was on the same boat once until someone told then when I shared with friends I saw their reaction of not knowing which is sad as they are making big decisions without knowing few key points

  32. Prices are going down because interest rates are high, not because people aren’t willing to pay asking. Once rates take even the slightest dip, people are going to go back to paying asking price.

  33. I watched your link. Clearly she had a rogue listing agent that asked inappropriate questions of the lender/LO about the buyers qualifications. It also sounds like the listing agent had an agenda as well. This is not at all typical of the conversations listings agents have with lenders - that LO even admitted she had not ever run into it before. All we really want to know was answered by the LO in the first couple of sentences of the conversation when she stated the buyer was pre-approved, underwritten and had a rate lock. What more could be said? That's the right answer and the listing agent should have moved on at that point. No reason to ask further questions.

  34. That’s why I said some listings agent. Not all realtors are bad nor all of them are good. We just have to be careful of the bad ones that’s all

  35. Lol of course it’s gonna hurt, now watch this

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