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Anybody been keeping up with the real estate market?

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N8 v2.0

N8 v2.0

Not the sharpest tool in the shed
Oct 18, 2002
11,003
149
The Cleft of Venus
narlus said:
well i'm glad that i don't have to think about moving at all, and have a fixed rate mortgage, so the interest rates don't affect me.
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Mine is fixed as well... although I missed it when the rates dropped down into the upper 4's a couple years ago.

I locked in at 5.3% for a 30...
 
SkaredShtles

SkaredShtles

Michael Bolton
Sep 21, 2003
67,823
14,162
In a van.... down by the river
Brian HCM#1 said:
You don't get a lot for your money, believe me, we're looking at spending up to 1.1 for a house, probably have to do an interest only loan for the first 3-5 years. We should get a good tax break though. It's absolutely ludicrous, and the house I end up buying will most likely be a POS in need of a lot of updating. But it's were we want to live and will have to pay the price.
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:dead: :dead: :dead: :dead: :dead: :dead:

-S.S.-
 
S

scurban

Turbo Monkey
Jul 11, 2004
1,052
0
SC
stosh said:
I can NOT believe the prices lately. There is a 850sq ft house down the road from my apt. going for $179,000.00 with no garage, no parking, and right up against a busy road.

I'm asking because are there any predictions of what is going to happen in the market?
All the financial institutes seem to indicate not only in housing but other markets are sitting at the edge of a precipice.
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$179? damn, thats CHEAP! Where do you live? The cheapest condo in Santa cruz w/ no garage is $450 +
 
narlus

narlus

Eastcoast Softcore
Staff member
Nov 7, 2001
24,658
65
behind the viewfinder
Brian HCM#1 said:
You just gotta jump in now and do it. Prices in the Bay Area continue to climb, however its a good investment here as they are almost guaranteed to make a nice profit.
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interesting article in the wall st journal today about renting vs buying in a hot market...didn't read the whole thing but the gist was that the gap between renting and buying has widened considerably, to the point where renting (at least in the short term) is a better economic bet. they cited that monthly costs of a rental apt (edit - in SF) is 45% of the monthly costs of home ownership, down from 67% in 2001.

i couldn't link to the article on-line, and my work filter blocked bugmenot (citing crim. skills!), but maybe you can find it.
 
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