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Juesey Tiger

Posted on 1/31/09 at 7:59 pm
Posted by Dodd
Member since Oct 2003
21115 posts
Posted on 1/31/09 at 7:59 pm
You are renting now correct? When do you think you'll jump back into a house?

BTW, my owner is selling and not getting foreclosed on. This is actually a blessing for my family as it speeds up our process of moving to Texas.

I'm probably going to purchase a home in Austin by the end of Spring. You think that's a good idea? It's a long term home for the family.

sorry to ramble.
This post was edited on 1/31/09 at 8:00 pm
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 1/31/09 at 9:30 pm to
quote:

You are renting now correct?


Yep.

quote:

When do you think you'll jump back into a house?


I currently can't imagine a scenario in which I would buy. It would basically have to be at 30 cents on the dollar from a bank.

I'd be very careful with Austin. It's started going down recently. At the very least, don't buy if the costs of renting are much lower than the costs of owning. And also beat the agents down on fees.

I still don't understand why you guys say "I'm going to buy at so and so time" and THEN go about seeing if it's a good idea. How about just waiting until it's very obvious that it's a reasonable time to buy and THEN start considering it? You have to rid yourself of the mentality that buying should be the default scenario.
Posted by NOMT
Baton Rouge, LA
Member since Mar 2007
575 posts
Posted on 1/31/09 at 10:58 pm to
I ran into an interesting scenario when negotiating my lease. I wanted to add a line giving me the option to add another 12 months to the lease at the end of the first year.

The seller balked. Apparently some sort of tax situation where he cannot deduct the interest from his mortgage if he isn't in the house a certain number of years, or at least that's what I was told.

Will be interesting to see if he changes his mind next year...
Posted by MileHigh
Most likely a mile high
Member since Jan 2004
7920 posts
Posted on 2/1/09 at 12:35 am to
quote:

I still don't understand why you guys say "I'm going to buy at so and so time" and THEN go about seeing if it's a good idea. How about just waiting until it's very obvious that it's a reasonable time to buy and THEN start considering it? You have to rid yourself of the mentality that buying should be the default scenario.

You have to continually think about it. I think that owning a house can be an incredible investment, but not at these prices.

I would really like to grow my own marijuana, and I don't feel comfortable doing so in a rental house. Its not b.c I want cheap weed, I think it would be fun as hell. I absolutely adore my vegetable garden.
Posted by Dodd
Member since Oct 2003
21115 posts
Posted on 2/1/09 at 11:11 am to
I know the market is very very unpredictable, but Austin isn't that bad of a market and I've seen some data that says SF home pricing will start climbing back up as early as this fall.

Thats why I would like to buy this spring/summer
Posted by LSUtoOmaha
Nashville
Member since Apr 2004
26705 posts
Posted on 2/1/09 at 11:35 am to
quote:

I know the market is very very unpredictable, but Austin isn't that bad of a market and I've seen some data that says SF home pricing will start climbing back up as early as this fall.

Thats why I would like to buy this spring/summer


Austin will go down. Everyone thinks where they live is immune. It's not, and you'll regret purchasing a house in a few years maximum.
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 2/1/09 at 1:31 pm to
quote:

but Austin isn't that bad of a market


It's terrible.

quote:

I've seen some data that says SF home pricing will start climbing back up as early as this fall.


Posted by mydadbeatupyourdad
Baton Rouge, LA
Member since Sep 2007
295 posts
Posted on 2/2/09 at 8:33 am to
What about immediately knocking 10-15% off any asking price and going from there? Would you at least be sheltered from the next 2 or 3 years if prices fell 4-5%/year?
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 2/2/09 at 9:56 am to
Obviously, the lower the price, the less risky. But don't get sucked in.
Posted by silstang23
Bossier City, LA
Member since Oct 2007
4961 posts
Posted on 2/2/09 at 2:02 pm to
My sister is building a house in Bossier City. The builder has a very good reputation and he normally charges cost plus 14% to build but is charging my sister cost plus 9%. Pretty good deal considering she is having a new house built.

Point is I was surprised to find out you can negotiate even if you are having a house built. Obviously you can negotiate on pre-owned houses that have been on the market for some time.
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