If you are waiting What are you waiting for?

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[quote author="CalGal" date=1224073348][quote author="blackvault_cm" date=1224073162][quote author="SoCal78" date=1224065640][quote author="blackvault_cm" date=1224064818]My wife gets her way in every aspect except when it comes to finances. She is inpatient and wants a house now. We have enough saved for 20%, but I'm not even pondering the thought until its cheaper to rent. Even then will be very hard to let go of the money we saved up (since I can play with it in the stock market....muahahahha)</blockquote>


So, you wear the pants but she tells you which ones to put on? ;)</blockquote>


Bingo! :P</blockquote>
Ah, the sign of a happy marriage.

Both parties think they are in control. %-P</blockquote>


I told my Wife the other Day that <em>I'M</em> in charge in <em>Our</em> House, and if She doesn't like it, she can Wash the Dishes, do the Housework and make the Bed Herself!!



:cheese:
 
[quote author="CalGal" date=1224072881][quote author="jbatzmaru" date=1224071958]Since i am too lazy to do my own analysis.... I am waiting for IR to signal that it is safe to go back into the water.</blockquote>
As soon as IR buys a house and gives his fellow bloggers the green light, the market will miraculously turn and all the buyers will come out in full force.

Years from now the real estate market will look back and call it the "IR Incline."</blockquote>


I think IR will be getting a flyer in the mail soon "Sign on the dotted line and the house on lot 12 Shady Canyon with the waterfall and foot bridge is your for $1"
 
[quote author="CalGal" date=1224072881][quote author="jbatzmaru" date=1224071958]Since i am too lazy to do my own analysis.... I am waiting for IR to signal that it is safe to go back into the water.</blockquote>
As soon as IR buys a house and gives his fellow bloggers the green light, the market will miraculously turn and all the buyers will come out in full force.

Years from now the real estate market will look back and call it the "IR Incline."</blockquote>
what if IR gets a free home from lennar or IAC for calling home prices r bottomed, now its time to buy. how about this scenario. will u still buy? :)
 
[quote author="irvine2010" date=1224120741][quote author="CalGal" date=1224072881][quote author="jbatzmaru" date=1224071958]Since i am too lazy to do my own analysis.... I am waiting for IR to signal that it is safe to go back into the water.</blockquote>
As soon as IR buys a house and gives his fellow bloggers the green light, the market will miraculously turn and all the buyers will come out in full force.

Years from now the real estate market will look back and call it the "IR Incline."</blockquote>
what if IR gets a free home from lennar or IAC for calling home prices r bottomed, now its time to buy. how about this scenario. will u still buy? :)</blockquote>


When I am saving less per year on falling home prices than I am throwing away money on rent (at $24k/year), I'll buy.

When prices are affordable for me and I'm happy with what I can get... and not just tolerate it... I'll buy.

I consider the advice of IR and every other knowledgeable person here. I try to apply it to my own financial and family situation.

When it makes sense to, for me - I'll buy.

That might mean I buy before IR and it might mean I buy after.

All of us are at different stages in our lives, so it's not one-size-fits-all.
 
I used to be waiting for rental parity with a fixed conservative loan.



Since then, however, we've been renting and enjoying it. Also I haven't decided to stay in SoCal for much longer than 5 yrs so I'm not sure buying here makes sense for us anymore. And more recently my better half has been exploring work possibilities closer to San Diego so we are very happy not to be tied to house here to avoid taking a loss. This is a big mind-set change as both my fiance and I were owners of our own homes back East. So I guess now we are waiting until it makes sense for us to risk some financial security to put down roots somewhere long-term. Maybe when kids come along?
 
I'm waiting for my second child to graduate from a high school in irvine so I can move to a better area with no Mello Roos. My children would have the benefit of Irvine education for a song. :-)
 
[quote author="WestparkRenter" date=1224133632]I'm waiting for my second child to graduate from a high school in irvine so I can move to a better area with no Mello Roos. My children would have the benefit of Irvine education for a song. :-)</blockquote>


So how long have you been renting in Irvine WPR? Have the kids had to change schools due to having different rental locations?
 
- When I can get the same or more square footage as the place I'm renting for the same out the door cost (maybe a little more would be okay, but not much)

- When graphrix says the foreclosure numbers are finally declining

- When my divorce is final

- When I save back some of that down payment that I had to hand over
 
[quote author="ipoplaya" date=1224134111][quote author="WestparkRenter" date=1224133632]I'm waiting for my second child to graduate from a high school in irvine so I can move to a better area with no Mello Roos. My children would have the benefit of Irvine education for a song. :-)</blockquote>


So how long have you been renting in Irvine WPR? Have the kids had to change schools due to having different rental locations?</blockquote>


It will be 5 years this Nov. I made sure my kids did not have to change school by enrolling at VV. VV turns out to be the best option. Small class sizes, brand new facility, excellent teachers. My youngest kid did not want to change house either. Friendships have been made and they are more important than living in a nice fancy house, even the one with a granite kitchen. :-)
 
[quote author="WestparkRenter" date=1224134435][quote author="ipoplaya" date=1224134111][quote author="WestparkRenter" date=1224133632]I'm waiting for my second child to graduate from a high school in irvine so I can move to a better area with no Mello Roos. My children would have the benefit of Irvine education for a song. :-)</blockquote>


So how long have you been renting in Irvine WPR? Have the kids had to change schools due to having different rental locations?</blockquote>


It will be 5 years this Nov. I made sure my kids did not have to change school by enrolling at VV. VV turns out to be the best option. Small class sizes, brand new facility, excellent teachers. My youngest kid did not want to change house either. Friendships have been made and they are more important than living in a nice fancy house, even the one with a granite kitchen. :-)</blockquote>


So five years in the same rental? Wow... I'm worried my landlord won't go for a second year.
 
[quote author="hbguybill" date=1224056590]I'm getting closer to buying in Irvine and just curious of the serious potential homebuyers on this blog what will make you buy?</blockquote>


Waiting until 4Q 2009 to buy, then probably another in 2011-2012.



I hope to eventually make enough to afford a lake front home in MV, but that's probably quite far away.
 
Better question is: If you're not waiting, why not?



Geez people, the economy is unraveling and leveraged investing is over for at least a decade. Why would you buy know unless a gun was held to your head.
 
[quote author="norcaljeff" date=1224139463]Better question is: If you're not waiting, why not?



Geez people, the economy is unraveling and leveraged investing is over for at least a decade. Why would you buy know unless a gun was held to your head.</blockquote>


Renting doesn't appeal to me, I need someplace to live, and I don't view my residence as an investment.
 
[quote author="High Gravity" date=1224139991][quote author="norcaljeff" date=1224139463]Better question is: If you're not waiting, why not?



Geez people, the economy is unraveling and leveraged investing is over for at least a decade. Why would you buy know unless a gun was held to your head.</blockquote>


Renting doesn't appeal to me, I need someplace to live, and I don't view my residence as an investment.</blockquote>


I agree. A house is not something you buy low and sell high, or something you take equity out of to buy a car. That's what got us into this mess in the first place.
 
[quote author="norcaljeff" date=1224139463]Better question is: If you're not waiting, why not?



Geez people, the economy is unraveling and leveraged investing is over for at least a decade. Why would you buy know unless a gun was held to your head.</blockquote>


because renting sucks. I'm not saying people should over extend themselves and not do their research, but you can't expect everyone to not participate in the housing market. A plan of renting into 2011 or continuing to live at home with moms and dad might appeal to some people, but we're not even into 2009 yet. If you got the ends, and can find a nice place you'll enjoy, might as well go for it. I've seen some of the posts here tracking various homes and how much they've dropped, but am I the only one to think most of them are hideous to begin with? Some homes there is a reason they dropped by 40%. Some homes, some of you are baffled that they still retain their value. There is a difference between desirable and non-desirable property, but it seems that that distinction is lost sometimes here.
 
[quote author="asianinvasian" date=1224141211][quote author="High Gravity" date=1224139991][quote author="norcaljeff" date=1224139463]Better question is: If you're not waiting, why not?



Geez people, the economy is unraveling and leveraged investing is over for at least a decade. Why would you buy know unless a gun was held to your head.</blockquote>


Renting doesn't appeal to me, I need someplace to live, and I don't view my residence as an investment.</blockquote>


I agree. A house is not something you buy low and sell high, or something you take equity out of to buy a car. That's what got us into this mess in the first place.</blockquote>


Home equity loan is like a pawn shop. Those who are desperate for cash sell their possessions to the pawn dealers and buy them back with interest when they have the money. Most people seldom buy back their possessions. Now substitute a home for possession.
 
[quote author="asianinvasian" date=1224141211][quote author="High Gravity" date=1224139991][quote author="norcaljeff" date=1224139463]Better question is: If you're not waiting, why not?



Geez people, the economy is unraveling and leveraged investing is over for at least a decade. Why would you buy know unless a gun was held to your head.</blockquote>


Renting doesn't appeal to me, I need someplace to live, and I don't view my residence as an investment.</blockquote>


I agree. A house is not something you buy low and sell high, or something you take equity out of to buy a car. That's what got us into this mess in the first place.</blockquote>


It's easy to say that as long as you don't loose your job in this economy. Nothing is certain with this economy.
 
I'm waiting for my current bankruptcy to fall off my credit report so I can stick another lender with my next home and refi. :-)
 
[quote author="asianinvasian" date=1224141211][quote author="High Gravity" date=1224139991][quote author="norcaljeff" date=1224139463]Better question is: If you're not waiting, why not?



Geez people, the economy is unraveling and leveraged investing is over for at least a decade. Why would you buy know unless a gun was held to your head.</blockquote>


Renting doesn't appeal to me, I need someplace to live, and I don't view my residence as an investment.</blockquote>


I agree. A house is not something you buy low and sell high, or something you take equity out of to buy a car. That's what got us into this mess in the first place.</blockquote>


Most savvy people prefer their house to be an asset rather than a liability... unless, of course, you wipe your @$$ with dollar bills.
 
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