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Started By
Message
Buying a home in Cali
Posted on 1/20/13 at 4:13 pm
Posted on 1/20/13 at 4:13 pm
Gents, I'm making the homebuyer plunge. Looking to buy this beauty:
LINK
I've got enough money to put some down, but am military and am using the VA Loan. New town home, still being built as we speak.
My big question is where is the housing market going to go? We intend to keep this one and rent it when I get posted elsewhere, unless there is some major shift between now and then. Where does the MTB seeing the market and interest rates going the next few years?
LINK
I've got enough money to put some down, but am military and am using the VA Loan. New town home, still being built as we speak.
My big question is where is the housing market going to go? We intend to keep this one and rent it when I get posted elsewhere, unless there is some major shift between now and then. Where does the MTB seeing the market and interest rates going the next few years?
2
Posted on 1/20/13 at 4:15 pm to scormi5
quote:
Where does the MTB seeing the market and interest rates going the next few years?
It cant really go down much further. Question is how long does it stay down? And no one could give you an answer to that.
Posted on 1/20/13 at 4:52 pm to scormi5
As far as interest rates go- I would guess they will stay below 5% for at least the next year if the economy stays at slow recovery rate. As far as how good of a deal it will be in the future depends on so many geographical and neighborhood factors- but I will say the price looks good on the surface without knowing what market in California you are looking to buy in. Check the values of other properties built by the homebuilders that you are looking to buy from.
Posted on 1/20/13 at 8:31 pm to BigAppleTiger
Shopping around, it has the best value. The complex is using phased openings and we're in the first half; they're increasing the price every phase so we feel luck we found it when we did.
We originally looked at renting and pocketing more BAH, but the rentals we found were actually more than the mortgage we'd be paying on this place. By A-LOT. And those were used. We're happy to say the least.
We originally looked at renting and pocketing more BAH, but the rentals we found were actually more than the mortgage we'd be paying on this place. By A-LOT. And those were used. We're happy to say the least.
Posted on 1/20/13 at 9:09 pm to scormi5
Just know when to get out. Another thing to consider. If they are building these in phases, you will probably be stuck till the whole community is built. Why would someone want your house when they can the same house, only newer for about the same price.
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