Back to Results

Tools

Partner Tools


Just sold home - now do I rent or buy again?

Profile picture for tgif1313
close Profile picture for tgif1313

tgif1313

Contributions: 1

View full profile

I just sold my home. Should I take advantage of the low interest rates and prices and buy another home or should I lay low and rent awhile? My concerns: What if I lose my job? What happens if I can't find work in my city? Locking me in to another home is a little scary, but around here it's cheaper to buy than to rent and I could save some money! What are your thoughts?
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 11 - Orlando
RSS

Replies (133)

Profile picture for cvoc13
close Profile picture for cvoc13

cvoc13

Contributions: 68

View full profile

I sold my home (foreclosed on) and I personally feel so FREE that I have decided I will never again tie myself down, as I can move to areas I thought I could only visit, including BRIC Nations (Brazil, Russia, India, China) not that I will, I CAN... and I can move in a BIGGER home for rent then I can buy, so I am planing on renting until I BUY that last little plug of ground, called a grave (that one I am not too picky about, view not important, location not important, etc... BUT as a renter I can rent a HOME on the water (Delta) that I would normally not be able to buy price wise, and make out like bandit. Payment would be over 4000 and cost me 100,000 or more cash for down, and RENT is about 2600 and ZERO (well deposit) so you tell me ..oh and I can take pride in it as well, that is a BUNCH of WHOEY about the PRIDE OF OWNERSHIP that is something a first timer says.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 11
Profile picture for Brady Pevehouse
close Profile picture for Brady Pevehouse

Brady Pevehouse, "Brady Pevehouse"

Real Estate Agent
Contributions: 76

View full profile

TGIF,
    While the previous comment has the freedom to roam where the wind blows, he/she completely negates the issue a full time real estate agent may add, which is long term goals.
The previous comment doesn't state their long term goals but it sounds as if they want to be mobile and in that case renting is best.... BUT...

If you have stability in your career and a desire to stay here over the next 4 to 7 years prior to needing to relocate either closer to another job or out of the area then you should SERIOUSLY consider buying a home again. Rates are truly in a great place, and you do get your pick of what you want considering all of the competition.

 At the same time, if you just sold, while you may not have lost money, you likely lost what you though you had, but never really had because it wasn't really there, even though it was there for a short time, but it wasn't but.... well maybe you get the idea, ... long story short, if you did just sell, you can roll that potential into a home now rather than waiting for prices to begin rising again and then purchasing then.

Long story short..... if you have stability to be here ATLEAST 4 years without needing to relocate, then I believe you should consider the thought of ownership as a good investment.
IF you can not do at least 4 years comfortably, then renting may be the best way to go.
Yes, all of this is before we run the numbers on tax benefits, yada, yada, yada..... WHAT ARE YOUR GOALS, and WHAT ARE YOUR EXPECTATIONS. From those 2 questions that you answer, you will find the answer you need.

Brady Pevehouse
www.FloridaisHome.com
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 11
Profile picture for sunnyview
close Profile picture for sunnyview

sunnyview

Contributions: 10569
Zillow All-Star

Since January 2009

View full profile

I guess my approach is slightly different. If you just sold, I think you might need some time to decide what you want. The market in Orlando has been hit hard and has had many REO's with possibly more coming. I don't mean to be negative, but I guess my point is that if you are uncertain about buying you need to wait until you know what you want. This market is unstable and even if it recovers you should have time to make a good choice. It is true that mortgage rates are low, but if they go up prices are likely to go down a bit more making it an even trade. I think knowing what you want is more important than buying now or racing to find a deal that might not fit you in 2-3 years. If it were me, I would keep a toe in the water, ask an agent to send you all listings for two or three of your top zip codes so you can personally stay in touch with your market and wait until you know what you want. I know you said that in your market buying was cheaper than renting, but you need to figure in escrow costs, investment opportunity costs and repairs that you would need to do as an owner too. Buying might make sense at some point, but you sound unsure for now so I would wait. Do not let anyone push you or scare you into buying. This is your decision alone.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

2 Yes

June 11
Profile picture for BMFPitt
close Profile picture for BMFPitt

BMFPitt

Contributions: 1122
Zillow All-Star

Since April 2009

View full profile

Why did you sell your house in the first place?  If you are moving, then unless you are already familiar with the area then renting for a year may have you time to figure out where you want to look.

And depending on what area, renting is likely the better option financially.  ESPECIALLY with interest rates spiking the way they are.  If rates keep going up in response to the government's inflationary policies, you definitely don't want to be stuck with a house at today's prices.

You say it's cheaper to buy than rent, and if you're fully accounting for all the expenses involved (not just P+I) then buying might be a good idea for you, but make sure you have all your bases covered.  If you can find a reasonable place to rent short term, then that gives you more time to look and find the right deal.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

1 Yes

June 11
Profile picture for dacolan
close Profile picture for dacolan

dacolan

Contributions: 450
Zillow All-Star

Since October 2009

View full profile

A good buy today may look very bad in a few months/years.

Unemployment is rising. Interest rates are rising. Defaults are rising. This means we're looking at continued tremendous downward pressure on house prices.

Here are a couple more figures to keep in mind re: the Alt-A/Option ARM tsunami that is barreling toward the housing market. 39.4% of Alt-A loans are non-owner occupied in Florida. And 82.8% of all Alt-A loans were made with no or low documentation. These recasts don't peak until the end of 2011, meaning the bulk of these may not even hit the market until 2012.

Caveat emptor.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

2 Yes

June 11
Profile picture for cvoc13
close Profile picture for cvoc13

cvoc13

Contributions: 68

View full profile

What happened from say 1982 till say 2005 A Housing Boom, and oh interest rates FELL for the most part, as RATES GO Up prices go down, and being as we are at or near all time lows on rates, it only leaves ONE WAY long term, and as rates rise, to say 10% what do you think that will do to prices?  Don't rush, This market is not likely to heal for 20 years or so, Look at history and you will see.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 12
Profile picture for nvchaz
close Profile picture for nvchaz

nvchaz

Contributions: 1617

View full profile

Regarding pride of ownership:

I owned a home and then sold it and rented for 10 years. In all those 10 years I was never as comfortable as when I live in my home. I never considered the places I rented as "home".

I don't think it is a bunch of "WHOEY" if you are so psychologically disposed.

I'm in escrow on another house and I am chomping at the bit to get to work on it. Every night I like to plan my projects and get my material lists together.

Some people are happier that way and people should do what makes them feel happy.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

1 Yes

June 12
Profile picture for cvoc13
close Profile picture for cvoc13

cvoc13

Contributions: 68

View full profile

Chaz

Good for you, and just because you could not feel at home, does not mean anyone else is that spaced out. 

have you done the RENT Vs. BUY Calculator?
BUYING IS RENTING, only at twice of more the cost, you are renting MONEY to BUY a HOME...
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

1 Yes

June 12
Profile picture for cvoc13
close Profile picture for cvoc13

cvoc13

Contributions: 68

View full profile

If you go to this page, you can see EACH POINT you can make as A BUYER BEAT DOWN...
http://patrick.net/housing/crash3.html
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 12
Profile picture for pwildcon
close Profile picture for pwildcon

Connie Wildasinn, "pwildcon"

Real Estate Agent

View my 14 listings
Contributions: 784
Zillow All-Star

Since August 2009

View full profile

You do what makes sence for you and your family... renting is not the same as buying, it can be much less expensive to buy once you look at the expences and - yes this will happen - appreciation and tax bene's. You could also take that money and buy income property, and still rent where you wish to live... building a real estate portfiolo is the best thing you can do.. just buy right.... oh and the person who said interest rates are spiking? are you like 20 years old... in 1986 rates were double digit, neg am 20% and more... perhaps you should study your history a little bit more... oh ya... and 32% debit ratio... full doc'd... get real
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 12
Profile picture for bulldunn
close Profile picture for bulldunn

bulldunn

Contributions: 1

View full profile

I just sold my house via short sale how long will i have to wait to buy another house. My household income is pretty good.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 16
Profile picture for sunnyview
close Profile picture for sunnyview

sunnyview

Contributions: 10569
Zillow All-Star

Since January 2009

View full profile

I had read it was a minimum of about 2 years with an FHA, but it depends on your recovered credit score and meeting the other requirements. I'm sure that the lenders on the Mortgage board could tell you more based on your situation.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 16
Profile picture for Lew Corcoran
close Profile picture for Lew Corcoran

Lew Corcoran, "Lew Corcoran"

Contributions: 899
Zillow All-Star

Since November 2009

View full profile

"Just sold home - now do I rent or buy again?"

Absolutely! Or else you won't have a place to live - unless you move in with someone else.

Whether you decide to buy or rent will ultimately depend on you, how you feel, where you're at in your stage in life, the local real estate market, your expectations, what you want to do, and so on. If you feel that market conditions will only get worse before they get better, then you might decide to rent for a while. But if you think interest rates will rise soon and make housing more expensive, then you might decide to purchase another home while you can still afford it.

The other aspect is the area in which you want to live and the affordability of purchasing a home vs renting a home in that area. 

You will have to decide which factors are more important and which are not as important. Once you've done that, then you'll know what to do. Good luck.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 16
Profile picture for mkullberg
close Profile picture for mkullberg

Matthew Kullberg, "mkullberg"

Real Estate Agent

View my 4 listings
Contributions: 65

View full profile

Only YOU can answer this question.  If it makes sense for you, owning is often better than renting.  Especially with the (historically) low interest rates.  Also, in a down market, if you are trading up (moving to a more expensive property), you can take advantage of a great monetary discount.  The more expensive property will likely have taken a bigger price hit, and will also have more potential for greater gains in the future, when the market does recover.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

1 Yes

June 16
Profile picture for dacolan
close Profile picture for dacolan

dacolan

Contributions: 450
Zillow All-Star

Since October 2009

View full profile

oh and the person who said interest rates are spiking? are you like 20 years old... in 1986 rates were double digit, neg am 20% and more... perhaps you should study your history a little bit more

How about making your point without the ad hominem attacks. Besides, I'm sure there are plenty of 20-year-olds that understand what happen to house values in a poor employment and economic climate when rates start heading north again, closer to historic norms.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 16
Profile picture for dacolan
close Profile picture for dacolan

dacolan

Contributions: 450
Zillow All-Star

Since October 2009

View full profile

The more expensive property will likely have taken a bigger price hit, and will also have more potential for greater gains in the future, when the market does recover.

Q: If a potential buyer loses 10-20% in the meantime, before the market recovers and returns to historic pre-bubble levels of appreciation (3-4%), assuming the market doesn't flat line or appreciate insignificantly for years once we reach bottom, how long will it take said buyer to realize these gains you speak of?

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 16
Profile picture for kylebudatxhomes
close Profile picture for kylebudatxhomes

Allen Deaver, "kylebudatxhomes"

Real Estate Agent

View my 5 listings
Contributions: 159

View full profile

I would need to know more about your circumstance... Sometimes buying a home isn't the best advice for everyone. Take into consideration how long are you going to live in the area. If you were to lose your job could you get a similar one in your area. Do you have a large enough down payment that would allow you to sell the home.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 18
Profile picture for space_acer
close Profile picture for space_acer

space_acer

Contributions: 4343
Zillow All-Star

Since March 2009

View full profile

perhaps you should study your history a little bit more

RE history in a nut shell...





 
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 18
Profile picture for westridge88
close Profile picture for westridge88

westridge88

Contributions: 134

View full profile

CVOC,

Talk to me in 5 to 7 years and let me know if you still feel good in paying 150,000+ in rent...by then prices will be well above the levels they are now...mark my words...these depressed prices will not last 20 years ...its good to be free...but youll be some sorry when your 55 with a 400,000 mortgage for a sh!tbox...goodluck with your path...Ill make sure to give you a "pound dawg" when you pack my groceries at walmart in 30 years.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

1 Yes

June 18
Profile picture for cvoc13
close Profile picture for cvoc13

cvoc13

Contributions: 68

View full profile

Hey Westridge,

hey man just cause you can't take the pain, It is what it is, have you looked at: Start with the interest rate chart. From 1982 to 2005 (the bottom to top in housing) as home prices went up, the interest rates came down. OK so we are at or near all time lows on interest rates, what happens to affordability with incomes not growing (higher unemployment) and interest rates climbing? Brainiac? OK, that is but one, Now lets talk about the soon to be Much HIGHER TAXES... You people that don't or won't get a grip, we have lived through a BOOM that lasted 25 or more years, and yet you think a older fallen apart home is worth more then you paid for it.. Tell me WHY Mr. Adam Henry (westridge) WHY is it in 20 years you think housing is going to be HIGHER in VALUE...
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 19
Profile picture for PMSoldier
close Profile picture for PMSoldier

PMSoldier

Contributions: 478

View full profile

Cvoc,

In your first post you stated that you had your home foreclosed on.  That would indicate that you at one time felt that home ownership was what you wanted, to the point that you attempted to keep the home till someone took it away from you.  If you wanted out of home owning so bad why didn't you just sell that cr@pbox?  Why didn't you dump it and move on? 

Yes renting allows you to go where the wind blows, so does owning.  If I get moved, I rent out my house and move on.  For as much as you preach about renting is better, SOMEONE owns the home you rent.  If you buy in the right area you can rent if you have to leave.  I hope not to have to move and that the home I bought is where I will live for many, many years, but I was smart enough to buy a home that I know I can rent out if I have to leave.  It is called prior planning, look into sometime.

Enjoy your McMansion you rent.  I hope it brings you joy and happiness.  But as for me, I enjoy the thought that when I pull up at my house, it is actually mine.  It is a joy for me. 
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

2 Yes

June 19
Profile picture for bmeehan
close Profile picture for bmeehan

Bob Meehan, "bmeehan"

Real Estate Agent

View my 2 listings
Contributions: 36

View full profile

If your plan is to stay local owning your home will offer many benefits that renting can't.  Real Estate is the only investment that the government allows you to deduct your costs against, you can make changes and know that no one can decide to make you move when you don't want to.  I know your local market has been really tough but of course that is usually the best time to be bold and buy, the cost of not buying is hard to factor but over the long run it is one of the best investments you can make.  The cost of money right now makes owning your best bet.



  
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

1 Yes

June 19
Profile picture for dacolan
close Profile picture for dacolan

dacolan

Contributions: 450
Zillow All-Star

Since October 2009

View full profile

I know your local market has been really tough but of course that is usually the best time to be bold and buy, the cost of not buying is hard to factor but over the long run it is one of the best investments you can make.

Is this the same advice you were giving potential buyers in 2008?
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 19
Profile picture for nvchaz
close Profile picture for nvchaz

nvchaz

Contributions: 1617

View full profile

I sense the bitter tears of cvoc13 falling on his desk as he types his rationalizations into Zillow.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

1 Yes

June 19
Profile picture for cvoc13
close Profile picture for cvoc13

cvoc13

Contributions: 68

View full profile

NVchaz.

No bitter tears here, just my thoughts on what the housing market is likely to do, and that is all.  So you go ahead and buy, I am not going to as yet.  I like the idea of not owning for several reasons, I have been a home owner since 82 and I am at this time done with it. I AM feeling so much better NOT being stuck.  I am living in a home MUCH MORE VALUEBALE then I I would be if I were buying it. I am renting a home that is worth two to to two and half times what I would be paying (not counting my needed down) to own. So what ever. Oh look my boat is calling, and all I have to do is walk out my on my rented deck, and down my rented dock, out of my rented home and play on the delta.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 19
Profile picture for SoCal BubbleBrain
close Profile picture for SoCal BubbleBrain

SoCal BubbleBrain

Contributions: 5292

View full profile

"  Real Estate is the only investment that the government allows you to deduct your costs against,"

Interesting. I always thought my home was a home not an investment. BTW...An education is an investment. If yout take out student loans you can deduct the interst paid when filing taxes.

 " you can make changes and know that no one can decide to make you move when you don't want to. "
 
I have painted, added shelves, planted, etc. to rentals before without a problem. No one ever made me move. On the contrary, always a good tenant I was asked to renew the leases.

"  I know your local market has been really tough but of course that is usually the best time to be bold and buy:

 If the buyer is buying in a still declining area, his down payment would be wiped out in months. If he loses a job or has to move for whatever reason he can't. Not a good position to be in sonn after closing.


  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 19
Profile picture for sunnyview
close Profile picture for sunnyview

sunnyview

Contributions: 10569
Zillow All-Star

Since January 2009

View full profile

Buying and holding in a still strongly dropping market is a scary proposition at best. I would not have the stomach for it myself.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 19
Profile picture for cvoc13
close Profile picture for cvoc13

cvoc13

Contributions: 68

View full profile

PM it is not your house if you have mortgage on it, you are renting the money to buy it.
 
For all of you hammer heads that insist buying is better maybe in your local market NOT here, Rents are coming down as are prices, and that is JUST NEVER good time to buy prices will be 30% lower in ca. in 24 months depending on government intervention (I hope none)

http://www.youwalkaway.com/output24/InterectiveFlashCalculator.html
  Try inputting some real numbers and experiment not just looking to prove your case, but try 2 years try 8 years try 1% appreciation try -1% and so on you can run out all the serinarios and you will find FEW that look to the buy side BUT hey if you want to buy, BUY I hope you do live in Debtors prison, good for you.
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

1 Yes

June 19
Profile picture for Lady Chattel
close Profile picture for Lady Chattel

Lady Chattel

Contributions: 2571
Zillow All-Star

Since October 2009

View full profile

The NYT calculator is the best 8 ball I got and it still tells me to sit tight.   Home is where my family is, whether it is an apartment, a condo, or my lovely 5/4 house I rent in the burbs!  I have watched proces in the hood I rent fall $200K.........if I used Brady's stupidlogic I couldn't sell a home in his 4-7 year range and walk away without being spanked royally. 

  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 19
Profile picture for Lady Chattel
close Profile picture for Lady Chattel

Lady Chattel

Contributions: 2571
Zillow All-Star

Since October 2009

View full profile

Okay, just plugged the latest house prices and a home for $430K would be a better deal after 30 years of home ownership!!!!   Gasp, the one I just looked at was $630K........yup, no hurry, no worries, be happy!
  Flag content
Close
Report a Problem

If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.

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.

0 Yes

June 19

Have a question? Ask it here.

What's this?
Close

By starting a discussion, you can expect more of an interactive, back-and-forth experience where the conversation can go in many different directions.

Or start a discussion

 
Most Active Orlando Real Estate Agents
Subscribe via RSS
  1. Profile picture for TWGHomes Jenny Wemert
    44 listings
    Local Expert
  2. Profile picture for Tammy King TAMMY KING
    21 listings
    Local Expert
  3. Profile picture for janelafrance Jane LaFrance
    16 listings
    Local Expert
  4. Profile picture for RickBelben Rick Belben
    15 listings
    Local Expert
  5. Profile picture for kacoburn Kim Coburn
    14 listings
    Local Expert

See more Orlando real estate agents

Related Discussions
Profile picture for 99_price_coming
Discussion Just sold home - now do I rent or buy again?
  • Last reply by 99_price_coming
  • July 15
Related Articles about Rent vs. Buy
Guide How to do Lease option - by Example
Guide Home Rental Guide
Guide Which is Better? Renting or Buying?
Guide The Buyer's Market versus the Renter's Market
Guide The Advantage of Renting a Home
Current Last Week
Need a Mortgage?

Zillow Mortgage Marketplace

  • Competitive rates
  • Accurate, custom quotes
  • Thousands of lenders

... and, it's free and anonymous

Get instant mortgage quotes
Estimated purchase price Current mortgage balance Desired loan amount
98104

Learn about Zillow Mortgage Marketplace

Zillow Poll:
Suggested by FLMRTGMAN
Do you think Banks and Mortgage Brokers should have equal disclosure requirements?
Next poll
Suggest a poll
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

© 2006-2008 Zillow.com, All Rights Reserved

pageName