Profile picture for rattar3

Bankruptcy, discharged in '08. Established great credit since. Pros VS Cons on buying house

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 12 2011 - Lindenwood Park
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (4)

I agree that it is a good time to buy.  Low home prices and rates are a great combination.  Definately cheaper than buying.  You could obtain a fha loan now with only 3.5% down.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 15 2011
Profile picture for Dunes....
Are you calculating Property Taxes, maintenance, water & garbage and whatever other costs are included in a Rent paid?
Are prices declining,,more inventory coming on the Market, Sales numbers..Listing Price Average vs Sale Price average ect.
Would waiting one year result in a lower Price ect?Job security?

It's how informed you are that will determine if you make a wise decision or if it is a wise decision......Get informed as possible about your Market Area and the Real costs then you'll be able to answer your own question

Another thing I would check out is the Fed Gov. site which has all the current available Loans they provide..FHA/HUD/USDA/Vet ect..
You can get specific information, compare options, or take a short questionnaire to determine your eligibility for each program.
Fed Gov. Loans

You could also make use of the Fed Gov and Banks Sites they have created to allow the Public to view their Properties for Sale/Foreclosure/REO..Get a feel for Prices and different Options

Sites like...HUD Homes...Fannie Mae
You can find the links to all the Gov sites here...Link

Bank sites like....Bank of America...Wells Fargo
You can find links to Bank sites here...Link

For finding Public Records, Property Records, Tax Sales posted ect. you may find this Public Records Search Engine helpful...Check it out
Free Public Records Search Directory

Choosing an RE Agent or a Lender is a MAJOR Decision so Remember RE Agents/Lenders are SELLING Services for Money not doing good deeds...
Protect yourself...Become informed so you can make Wise Decisions starting with being knowledgeable enough to Select and HIRE the Services of a Agent or Lender who will provide you the Services you need. Some are Good and some are Bad so be informed enough to tell the difference


There is a Ton of Information available...Mine it and profit from it.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 14 2011
It's a great time to buy - you can buy your home with as little as 3.5% down.  Marty is correct in saying this is a TRUE BUYER'S Market! Hope this helps!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 14 2011

It is certainly a good time to buy with the combination of a true buyer's market and excellent interest rates.  The question that you ask: "Is it a good time for me to buy?" 

I think that if were you, I would try to have a substancial downpayment before purchasing.  It would be preferable to have 20% down if possible.  One of the reasons is that we really don't know if we are at the bottom of the market or not.  We all want to believe that is the fact, but we are guessing.  If the market is not at the bottom, you may find yourself with a low equity position.  While the additional benifits of tax deductions and low interest rates and being a buyer's market,  will soften the negative appreication; it could take several years for you to acquire a substancial equity position.

Ultimately, home ownership is a good investment over the long term.  I just would want to have a strong downpayment and a good cash reserve at the time that you purchase.

Good Luck! 

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
April 12 2011
 
Related Questions
How did this home sell for this price?
Profile picture for Lisa McKnight
Latest answer by Lisa McKnight
April 22 2011 | 5 answers
Bankruptcy, discharged in '08. Established great credit since. Pros VS Cons on buying house
Profile picture for Christy Byrd and Jenny Dawson
Latest answer by Christy Byrd and Jenny Dawson
April 15 2011 | 4 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 6514 Devonshire Ave, Saint Louis, MO Home For Sale
    6514 Devonshire Ave, Saint Louis, MO 63109

     For Sale: $327,500

    • Beds: 3
    • Sqft: 1530
    • Baths: 1.5
    • Lot: 4356
  2. 5716 Lansdowne Ave, Saint Louis, MO Home For Sale
    5716 Lansdowne Ave, Saint Louis, MO 63109

     For Sale: $139,900

    • Beds: 2
    • Sqft: 1158
    • Baths: 1.0
    • Lot: 5227
  3. 7034 Pernod Ave, Saint Louis, MO Home For Sale
    7034 Pernod Ave, Saint Louis, MO 63139

     For Sale: $139,900

    • Beds: 2
    • Sqft: 1060
    • Baths: 1.5
    • Lot: 5837