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Started By
Message
Timing: Is now a good time to look into Real Estate?
Posted on 5/15/13 at 12:20 pm
Posted on 5/15/13 at 12:20 pm
I'm looking at reducing some of my stock risk and buying a home. Other then the obvious advantage of being a homeowner. What does the MT board think about putting more down on the house to both reduce my stock exposure and have a lower mortgage. As opposed to a smaller down payment and leaving more in the market. Assume even at lower down payment I'm at 20% to avoid PMI etc.
TIA.
TIA.
3
Posted on 5/15/13 at 5:26 pm to Oenophile Brah
Its really up to you. I don't see a bad option there.
Do this if you can put 20% down, keep some in the market, and still have an emergency fund of 6 months of expenses on the side. Paid for houses are a good idea too though..
quote:
As opposed to a smaller down payment and leaving more in the market
Do this if you can put 20% down, keep some in the market, and still have an emergency fund of 6 months of expenses on the side. Paid for houses are a good idea too though..
Posted on 5/15/13 at 6:37 pm to Oenophile Brah
2 years ago would have been ideal. But, you can't turn back the clock. Go for it, interest rates are so low that it's worth it.
Posted on 5/15/13 at 7:45 pm to ljd4662
quote:
Paid for house
Don't have that much in the market sadly.
I think I'm going to put 25% then keep rest in the market, with a little cushion in a money market.
Thanks
Posted on 5/15/13 at 7:46 pm to HNTIGER1980
quote:
2 years ago would have been perfect
Do you mean do to the relative strength of the real estate market? I'm in NOLA, and we haven't experienced much change in the market here.
Posted on 5/15/13 at 8:00 pm to Oenophile Brah
With rates as low as they are I'd put down as little as possible if you can get that rate.
Keep in mind that the goal is to reduce the rate (after the tax break) to about the rate of inflation, which historically is roughly 2.5%
Keep in mind that the goal is to reduce the rate (after the tax break) to about the rate of inflation, which historically is roughly 2.5%
Posted on 5/15/13 at 8:07 pm to foshizzle
Depends on your local market. Right now you can probably still buy relatively cheap, especially if your area has a high inventory.
Posted on 5/15/13 at 8:35 pm to HNTIGER1980
quote:
2 years ago would have been ideal. But, you can't turn back the clock. Go for it, interest rates are so low that it's worth it.
Contracted 2011 on new construction. Finished August 2012.
Equity...100k.
Posted on 5/16/13 at 9:11 am to Oenophile Brah
quote:
Do you mean do to the relative strength of the real estate market? I'm in NOLA, and we haven't experienced much change in the market here.
Not sure about that.
Posted on 5/16/13 at 9:21 am to Cold Cous Cous
quote:
Not sure about that.
I'm just stating that compared to areas who experienced a major downturn several years ago, NOLA was somewhat insulated from that correction. Thusly, we are not seeing a major rebound like the areas that experienced that shock.
Posted on 5/16/13 at 9:29 am to Oenophile Brah
quote:
Do you mean do to the relative strength of the real estate market?
Yes, basically nationwide, on average. Local markets will vary.
I live in E.B.R. and house pricing have actually gone down slightly in the last couple of years.
Posted on 5/16/13 at 2:41 pm to Oenophile Brah
quote:
I'm just stating that compared to areas who experienced a major downturn several years ago, NOLA was somewhat insulated from that correction. Thusly, we are not seeing a major rebound like the areas that experienced that shock.
Well, we just had a different kind of shock. Price, for instance, empty lots in Lakeview ca. early 2008 as compared to today. You'd be surprised.
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