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http://blog.myfico.com/2013/01/homebuyer-2-0-new-market-new-rules/
This is a great new article that talks about the market homebuyers are dealing with now and how it is different from how it was a few years ago. We are doing exactly what the article suggest by stretching our budget slightly to afford our dream home now rather than later as when interest rise again, later may never come.
Curious what your thoughts are?
IDK about others but the last sentence is quite a stretch to me.... I mean granted, I am not a homeowner, but still... I would think that the better recommendation would be to look at comps in the area to price ur offer, not "always pay the asking price".
"She recommends moving fast with a full-price offer if you are purchasing in a market with low inventory."
Otherwise, it was pretty informative to me.
We all need to hope the economy gets better for the many who are struggling now. We all may not be around in 5 years.
I still hope you will get some good news MovingFoward in the next few days.
Everytime you start a new post I am looking for that POSITIVE we have the CLEAR TO CLOSE!
@JM-AM wrote:I still hope you will get some good news MovingFoward in the next few days.
Everytime you start a new post I am looking for that POSITIVE we have the CLEAR TO CLOSE!
Me too! No news today but hopefully tomorrow or Thursday. You know it will be a big announcement when it happens LOL!
Yeah, we are stretching our budget just a little. We qualified for a much more expensive home, but are only looking to buy for the size we need. We can finish the basement later if we want extra living space, but the base price of the home we are looking to build has already gone up $5,000 in our area. I guess we got in at the right time. We were actually going to wait another year, but the rates being where they are, and the deal we were able to make...it seemed like a good idea to give it a shot. And if we're approved, we'll be there for a very long time as I'm not interested in going through all this again. lol