It has been awhile since I've been a regular poster on Zillow.That being said... it would appear that the OP was made in Jan 2006.Hopefully they sold.What is not to love about hindsight?
If you must have a view it is best to be sunnyWith such grace and wit…really funny Always so fairHelping buyers bewareGiving sellers much hopeand new ways to cope When greed's advice becomes defectiveYou , with much grace give perspective A new point of viewWith virtue so true How do I respect thee… let me count the waysMay you "live long and prosper"in endless sunny days!
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The best advice for you would be to speak with your RE agent, mortgage consultant and tax advisor. The interest you pay on those two different types of mortgages will vary as will the way you are taxed. Take your time and put all the information together to make the decision.
Depending on your contract you may be responsible for commission and a second appraisal may work to your advantage (should the property not appraise).But you seriously need to gather all your paperwork and speak with a RE attorney today
To say “If I'm wrong, prices might go down another 4 or 5% ( Maximum! ) this year”…That is something we have all also heard from “the experts” over the last several years and yet in many areas (including your market) prices went far beyond expectedEven were that 4-5% an accurate figure, to think that the average consumer would be okay with losing 15-50k with an additional 6-7% selling cost were an unforeseeable event (job loss, divorce) to occur.Make no mistake I believe in homeownership and the value of owning property but each person has their own circumstances and each market a different dynamic.
For over a year now we have all heard the secondary lines “Rates have never been lower” (sometimes add to that) “How much lower can they go?/They couldn't possibly go any lower” and my favorite “prices are so low (add) they couldn't possibly go lower” or… “Buy a $_________(insert incredibly unrealistic, unsupportable, inflated property price) for %____off (insert whatever irrelevant percentage for the market).I didn't read this whole post so maybe I missed something but when an agent says “it's never been a better time to buy” I always wonder how many properties they have in escrow to personally “invest” in.
Surely Bob you can understand the pure frustration coming from consumers who have been hearing “What a great time to buy” it has been since the dawn of real estate.The statement “There has never been a better time to buy RE” only comes off as self serving, disingenuous and strips the “agent” who says it of any trustworthiness or credibility. The statement is just something a salesperson says, not something you want to hear from your agent/fiduciary.
Do I sell or stay for another couple of years?
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