Spinoff: If you just bought within the last year or so...

Are you kicking yourselves over the prices of houses going down, thinking you could've found something more to your liking at a more affordable price?

Re: Spinoff: If you just bought within the last year or so...

NO we're not. We love our house and our interest rate is low compared to rates now. So....we made a good decision to buy when we did.

Re: Spinoff: If you just bought within the last year or so...

Nope. I think we got a good deal on our house and I haven't found anything comparable for less then it.

Re: Spinoff: If you just bought within the last year or so...

No. Houses that are priced right are still continuing to sell...and as when I was looking, those that aren't have had to drop. Housing is not going to drop to where it was 5 years ago. It is what it is.

Jmo.

Re: Spinoff: If you just bought within the last year or so...

when I buy, i wont be mad if prices go down.

I am on the side of prices are going to drop in the next year, but im not an investor looking to flip - im looking for a place to live so if prices go down, i'll just continue to live there!

Re: Spinoff: If you just bought within the last year or so...

no because i love where i am (co-op not house which we looked at over 75 homes over 4 months)

and rates are higher now which will almost make your home the same price.

Re: Spinoff: If you just bought within the last year or so...

No way. We got a great fixed rate that will save us a ton in the long run in interest and we bought with the intention to stay, so its not just an investment. And the housing market is a cycle. It will go up again eventually.

Re: Spinoff: If you just bought within the last year or so...

Re: Spinoff: If you just bought within the last year or so...

Nope - even though we paid asking price for our house - I know that we got a good deal - and I don't see any houses out there right now in the same price range that even compare.

Re: Spinoff: If you just bought within the last year or so...

No, we got a great interest rate. Plus, there aren't many houses that come up in our price range in the neighborhood we bought in, so I'm glad we bought when we did.

Re: Spinoff: If you just bought within the last year or so...

No.

We got a great interest rate.

We also had a house to sell and it sold fast and at a higher price than it would now.

We got a GREAT deal, way below market value, even present market value on my house and with the lower price, we are able to completely redo the house.

Re: Spinoff: If you just bought within the last year or so...

Not for one second!

We looked for a year & knew what we wanted! We didn't want to settle just to get a house!

DH & I did not get your typical starter home by a 4bedroom splanch! The house is brand new & we just moved in & decorated to make the house a home! I would not trade my house in for anything!

Also, we got an amazing interest rate, so in the end it all works out!

Re: Spinoff: If you just bought within the last year or so...

yes. i got a great interest rrate but i paid alot for a little tiny house.

i also only got it fixed for 5 years...

if i bought now, with the fear that interest rates would rise, i would have gotten a 30 year and would also probably have a bigger home.


i guess it all evens out financially but in my situation, i wish i waited.

alot pf pressure was put on me and every monetary move was scrutinized by people asking "why are you going on vacation? arent you saving for a house?" or "where are you going to live after you get married - arent you going to buy a home?"

im sick of people telling me what to do. if i waited i would have been in a much better position

Re: Spinoff: If you just bought within the last year or so...

No - I do not regret our decision at all. I still look at every home that comes onto MLSLI (and sometimes I even go to the open houses ) and I havent seen any houses in our price range that I like better than the one we purchased.

I did think that we got a "deal" at the time though, because the owners were oversees and the listing agent was on vacation for the winter in Florida. The house wasn't properly marketed and never even made it onto MLS. They only held an open house after we had an accepted offer and I think that was only because the agency felt bad about the way they handled it.... And it was freezing rain that day!

As for the interest rate - it's okay.... we had to give up great rates on the condo's we sold (4% & 4 1/8%). I wasnt too concerned about the interest rate because i think we will end up paying off our mortgage in the next 3-5 years anyway....

Re: Spinoff: If you just bought within the last year or so...

Re: Spinoff: If you just bought within the last year or so...

We moved upstate and bought a fixer upper on a lake

We paid a lot less than what the seller was asking and we got a great deal. However, I do think we could have gotten something for a little more $$ that did not have so much work if we waited. But then we would not have the lakefront property probably. I guess I am undecided about my answer. I know that the renovations on our house are worth it and in the end it will be an awesome house but it is a BIG PITA, especially with a newborn. Sometiimes I wish we moved into a townhouse that all we had to do was paint and be done with it. OK, vent over.

Re: Spinoff: If you just bought within the last year or so...

Re: Spinoff: If you just bought within the last year or so...

not at all. We got an awesome interest rate locked in for 10 years. Yes, we probably could have gotten the same house at this time this year and would have probably paid close to 100k less for it the way prices are dropping, but the interest rate we got wouldn't have been there. As much as we paid for our house we still feel we got an awesome deal for it.

Re: Spinoff: If you just bought within the last year or so...

I am in the process of buying right now, and I am torn. I love the house so much, and it really has everything we wanted...plus all the extras! But, I jumped on it because I had my eye on the market for so long and it was a good deal compared to last year. Now, I am not sure if other house in the neighborhood will sell for as much. So I fear now that I am in contract, I am overpaying. DH doesn't have any doubts or reservations...I just over analyze EVERYTHING!

Re: Spinoff: If you just bought within the last year or so...

nope, I love my house and I think we paid a fair price considering the area, the house was brand new, etc.

Re: Spinoff: If you just bought within the last year or so...

Re: Spinoff: If you just bought within the last year or so...

In our case the value of our property has increased. We recently had it appraised and although we put approximatley $50K into it in the last year, it was valued for $100K more than we paid

ETA: I forgot that the fixed rate on our mortgage is more than 1% less than the rate now.

Message edited 8/10/2006 10:28:26 AM.

Re: Spinoff: If you just bought within the last year or so...

No. I wouldve paid way more for the house we bought.

Plus everything on the market is crap right now.

No regrets!

Re: Spinoff: If you just bought within the last year or so...

DH hates it more then I do. I try not to think about it, i love our house and plan on spending many many years in it.

Re: Spinoff: If you just bought within the last year or so...

Nop;e! I LOVE my house