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| Posted by | Message | scormi5 
LSU Fan
Baton Rouge, Louisiana
Member since Jan 2007
1334 posts
| Buying a home in Cali (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?
| | Back to top | Share on  | TyOconner 
Troy Fan
Georgia
Member since Nov 2009
8756 posts
| re: Buying a home in Cali (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.
| | Back to top | | BigAppleTiger
LSU Fan
New York City
Member since Dec 2008
5287 posts
| re: Buying a home in Cali (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.
| | Back to top | | scormi5
LSU Fan
Baton Rouge, Louisiana
Member since Jan 2007
1334 posts
| re: Buying a home in Cali (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.
| | Back to top | | guttata
LSU Fan
prairieville
Member since Feb 2006
18335 posts
| re: Buying a home in Cali (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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