I bought a home

NEW -> Contingent Buyer Assistance Program
<p>I pat IN on the back for doing what is right for him and his family. So what if in some manner he gave in to his wife. Good for him for thinking of his wife first and putting her needs before his own, or not.</p>

<p>I was a bit sad when I read you bought, only because I thought it would mean you might stop posting. I hope you don't. But, overall, I am happy for you and it sounds like you are doing what is best for you and yours, and you certainly don't need our approval.</p>

<p>Thanks for sharing your experience.</p>
 
<p>I also commend IN for posting his/her experience. It sounds like IN is in it for the long haul and can comfortably afford the place he/she bought. </p>

<p>Congrats to you again IN and good luck! </p>
 
<p>I think we should commend IN on his purchase. He waited, saved money and got the home he wanted at nice discount. Could it go lower? Maybe, maybe not. Say he did decided to wait and instead of him purchasing this home someone exactly like him did. Prices may go lower in the neighborhood but since he bought for the long term this home won't be up for sale. It's a catch 22. While I may be bearish on RE he bought the home he wanted with conservative financing that over the long term I highly doubt he will regret his purchase. I think it is great that he shared his experience and I know there are more here that should share their experience but fear they bear backlash. This may sound strange coming from me but his scenario is one of the most reasonable scenarios we have seen. I think that even the bears will be nice when someone buys with similar situations as IN that are not depending on appreciation. So congrats IN on your purchase!</p>

<p>And you better not stop posting and reading here. It would be great to hear more about your experience as time goes on. Homes built in the 70s do have their stories to share.</p>
 
<p>ok, I'm buying one this weekend too..who else? </p>

<p>--</p>

<p>All "speculation" aside and as a few of you have said if you're happy with it and you're in for the long haul does it really matter in the end..?</p>
 
Congratulations! You must be really excited and I hope the real estate gods look kindly upon your purchase. :)





I am reminded of a coworker's ride with real estate:





He purchased a home in 1989 for $250,000. Location - Diamond Bar


The previous owner had purchased the home, new, 13 years earlier for $70,000 (<strong>$180k profit over 13 years</strong>)





My coworker lives in it for 12 years and sells it for roughly $300,000 (<strong>$50k profit over 12 years</strong>)





A single father purchases the "modest" home to raise his son. <strong>Three years later he sells it for almost a million.</strong>





Damnit. Yes, I'm bitter.
 
<p>To those bears out there, do you have a family? And what would you do as a parent/father/mother to make your family happy? </p>

<p>I'm happy for you guys, I have ZERO doubt that the housing market will come back. So you have to wait a while to get back to where you started, in my opinion family, stability and a good home enviornment are FAR more important than a few dollars.</p>

<p>So where do I send the Champaign ?</p>

<p>have fun decorating that babies room, i'm sure over the next year or two you'll be spending ALOT of time there. good luck</p>

<p>-bix</p>
 
I am an re bear with a family. Relative to re, I make my family happy by leasing a nice home in a nice neighborhood, with great schools, and the leased home is in a neighborhood that I plan to buy in later so as not to have my kids switch schools.<p>



The greatest influence I seem to have with my children's happiness is spending time with them.<p>



I have both owned a home and leased a home with my family and it doesn't appear that either method of occupation influences my children's happiness. They are just as happy in a leased home as an owned home. It seems they have more important things to think about, and they may be on to something.
 
<p>awgee,</p>

<p>I am glad to see that you are happy renting, there is nothing wrong with that. It may cost me more money to own, but I do not want to be a renter (it's a mental thing), so I pay the price.</p>
 
<p>In</p>

<p>Congratulations on your purchase. I have owned before and I currently rent and eventually will purchase ahouse, probably next year. </p>

<p>Looking at my current situation, there is no way I would buy at the moment. I rent a 3/2 SF house in Westpark for $2450. Comparable houses currently sell for around $650000, based on 20% down, I would be looking at a minimum of $4500 monthly not counting $220 HOA, and other expenses (gardner, water, trash...) that I'm not making. Based on my rent and a simple Net Operating Income valuation model, at current interest rates, this house would be worth somewhere around $500000, I can't wait to buy, but I think my kids can use the money I'm saving by renting and investing in the stock market rather than giving it to the bank as interest. </p>
 
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