What's next...wiki definitions? Listen to afroroyale at your own risk...here's my opinion.
1. Get the lowest interest rates as you possibly can (for reasons I've mentioned before) Look for flex plans where you can buy your percentage points up front.
2. Interest rates are trending up which means buy as soon as you can
3. Most (99%) of people pay more in interest than the actual cost of the house.
Investors...Once upon a time, there was this thing called the internet and the internet economy was supposed to replace the traditional economy. As soon, as the internet became a household name, the SME dot.coms went bust. Why? Because the companies weren't growing, they were losing money, but they were creating infrastructure.
This is all fact.
Is there any question whether the infrastructure for the housing industry is in place? So what will you see? You won't see a bust; you'll see a slow leak driven by the interest rates and a scaling down of loan ability. Prices will level out, not go down. Or, if they go down, the disparity between cost savings and interest paidout will be large.
Please don't just take my word. I've found the best source for home sales process is the mortgage broker. This person's job is to make money from your sell so the easier it is for you...the easier it is for him or her.
And finally, as an aside, be careful who you listen to on any messageboard. There are certain people who come to these boards to give disinformation. Generally, it's always easy to pick them out of a crowd. They tend to use circular logic, poor references, and can never give a straight answer to your questions.
With that said, Afroroyale, what makes you think that there will be a second surge of investment home sales, feel free to use any areas (like the bay area (SF and Oakland)), show us demographics (specifically income) that suggest that people who haven't bought in the low interest rates, easy acquisition times are now going to buy in the high interest rates, difficult acquisition times? Or, that the people aren't becoming more price sensitive in the rental arena? Try to use more credible sources.
As this is my last post in this tread, you'll be free of interruptions from me.
Thx...YMX
Oh yeah, before I forget, do you think renter monthly prices which are traditionally higher than mortgage prices will go up or down? And, now that the immigration reform is not going through, do you believe these people are now going to be more or less sensitive to price?
. Btw, which city is the property located?
