5 Reasons to Buy in Today's Market

[green_cactus_IHB]

<strong>From: <a href="http://realestate.msn.com/Buying/Article2.aspx?cp-documentid=6112643&GT1=10932">realestate.msn.com/Buying/Article2.aspx</a>





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<p><strong>5 REASONS TO BUY </strong></p>

<p><strong>1. Prices in the neighborhood you are interested in are relatively stable</strong>. Either they are holding their own or increasing, or the pace of decline is slowing significantly. If you have to move and don't like apartments, the small penalty you pay for missing the bottom may not mean much.</p>

<p><strong></strong> <strong>2. You plan to stay in the home for more than five years.</strong> If you can stick it out that long before selling, economists say you’ll probably ride out any downturn and come out ahead on price.</p>

<p><strong>3. Your rent rivals a mortgage payment.</strong> If you can afford to buy, it can give you one bonus that renting can't: the mortgage-interest deduction on your taxes. </p>

<p><strong>4. You've found the right house in the right area for you</strong>. The schools are great. You love the area and know it would be hard to find another house like the one you have your eye on. In a better market, you would most likely have much more competition for that home.</p>

<p><strong>5. You've built equity in your house and are moving to a place where homes are cheaper.</strong> In your new market, your money will go a lot further.</p>

Here you go ... have fun with it!

 

[IrvineRenter_IHB]

ROFLMAO!

 

[awgee_IHB]

" Prices in the neighborhood you are interested in are relatively stable. Either they are holding their own or increasing, or the pace of decline is slowing significantly. "



And what if the pace of decline is accelerating significantly?

 

[lawyerliz_IHB]

<p>How would you know what the future decline would be? Crystall balls anyone?</p>

<p>Actually this post makes modest claims compared to last year. Wrong, but less wrong than previously.</p>

 

[socalhousingbubble_IHB]

<p>This one is actually a good idea...</p>

<p><em><strong>3. Your rent rivals a mortgage payment.</strong> If you can afford to buy, it can give you one bonus that renting can't: the mortgage-interest deduction on your taxes.</em> </p>

<p>It just isn't anywhere near being true in the OC.</p>

<p>SCHB</p>

 

[Rocker_IHB]

<p>"You plan to stay in the home for more than five years."</p>

<p>How do I know that I'm going to keep my job for 5 years or my source of income will be stable for that time so I can say today with certainty that I'm going to keep that house for that time? Who does it?</p>

<p>In a slow/recessionary local economy and a declining real estate market, if I lose my job, is going to be hard to quickly find a new one, my savings won't last long, probably I'll need to relocate to a new job market if the LA/OC region enters a severe local recession (LA/OC is the epicenter of the subprime financing and already lost many jobs), but I'm going to be a poor candidate for my new position because I won't be able to sell my house!, and if I'm lucky enough to sell the house but I bought it recently then I'll need to come to the closing table with a check! because the decline in prices, but if my savings are gone, where I'm going to get that check from? I'm stuck, I can't move.</p>

<p>Because this argument only applies to the 1% of the population, that can say that today they have the income stability or wealth to keep paying their mortgage for the next 5 years, is irresponsible to assume that is always true for all the population.</p>

 

[awgee_IHB]

<i>"You plan to stay in the home for more than five years."</i><p>


Huh? Why is paying the mortgage on a depreciating asset for five years better than paying the mortgage on a depreciating asset for less than five years?

 

[xsocal land merchant_IHB]

<p>awgee</p>

<p>You know it is always a good time to buy!!!</p>

<p>Gotta go watch NASCAR!!</p>

 

[effenheimer_IHB]

NASCAR FTL

 

[HB Bear_IHB]

"You plan to stay in the home for more than five years."



This five year window is a realtor myth. I've debuunked it on my blog:



http://ocpredicts.blogspot.com/2008/01/lies-damned-lies-and-realtor-statistics.html

 

[no_vaseline_IHB]

The 'Cup race was awesome. Too bad it didn't count.



I really like Smoke (especially after he handled that puke Busch last night old skool style) but I was screaming for the last five laps for Jr.

 

[xsocal land merchant_IHB]

No_Vas



It counted for $250K!!



Smoke is my favorite but I was happy too see Jr win his first race for Hendricks.



Would have been great to see Smoke win the first cup race for Toyota.



I may become a Kyle fan until he does something stupid.



Enjoy!