Agent Smith's Discussions

Did you even read anything I said?

The "PURPOSE" of my thread, is to acknowledge buyers to buy a home now before they are in for a real disaster later when interest rates have ballooned. There is not a lot of time before the interest rates starts going up. I'm guessing the interest rates will start going up beginning of next year's spring.

Because it takes brains to sell something in today's market. Buyers will not fall for, 'House prices will not go down' anymore.

" Also, how do you know that rates are going up?"Don't you know a lot of the lenders are dead broke right now? How else do you expect them to come out of this train wreck? By begging people for donations?

Yes, as some poster mentioned up earlier, if you are already a home owner, then it really is always a good time to buy a home. Even if your house have depreciated a good 20-30% or even 50%, that means you will be able to buy another house at the same depreciation you have encountered. So in general, yes, it is always a good time to buy a home.As for interest rates going up, did you know that when you pay interest, all that money is just going straight to the dumpster? You are not saving anything back into your pocket. You are just as better off renting and giving your money away to the land lord. That is why I said, it is better to purchase an overvalued home now at a low interest rate, than to purchase a lower price home at a great interest rate. There is a big difference in amount of money you can save and put it directly into your bank(your home).

I actually prefer newer homes. Because I can not stand the stink of some older homes for some reason. It gives me the chills to think of what might have took place in the house in the last 40 years.

A 100 year old mold should also be a health hazard.

Are you already a home owner? or a first time buyer?

I checked your website www.longislandbubble.com today and I have some few questions for you. It was a good read, it shows you are very serious about this bubble. I can now understand where you are coming from, it seems you are a very bitter buyer who was unfortunate and did not buy it like other people at 2000 who reaped big time profits.I just wish you have better things to do. Why do you keep complaining about the bubble? What benefit do you gain from telling people about a very sad and depressing scenario we have today? Why do you keep giving bad image of us Realtors making us look like the ones who caused all this mess?We have done nothing wrong but just doing our job and putting bread on our table for our family. We are just happened to have strike a gold-rush couple years back and are far better off than those who worked as a car salesmen. Is it this simple switch in misfortune that you are aggressively attacking us for? If so I advise you to please stop and go back to your life. Your family needs you.

Mr Nuts,That number is incorrect. You forgot to calculate the rent payment you would be throwing out for the next 3 years if you were to wait it out. If you rent, that should be atleast $1,000 a month or so. Factor that in for 3 years, that is atleast $30,000 you have just put it directly to the toilet. Most consumers seem to only factor in numbers but not calculate the other expenses that goes in with it. And please try to base your judgement in a more realist manner next time. The prices of houses will not drop down to half. If at all, it will be at most around $150,000 for a $500,000 house. If you put that into calculation, along with the tax deduction you would get, it would calculate out to be that purchasing a house now would be far beneficial in the long run.