Connie I can't tell exactly what you're arguing for. "why would you have one house and then cry when the market shifts?...."Well since I'm not Trump one house is all I will have for a very long time. It will be a tremendous commitment of my resources, and will therefore be the BIGGEST investment I have. I had better make sure it's a good investment right!?I imagine many people will never be able to buy in Long Beach. It's expensive as H***. Good luck with that..hope for your sake the market there is better than Sacto,..but I doubt it.
If a bank is ..Marci..not going to accept prices much lower than what is owed, that creates an interesting (and scarry) problem for us here in Ca doesn't it? The market is not going to be "crazy" (your word for it) again anytime soon. I have looked at what houses sold for in 2005 in my area, and people/banks will not be getting anywhere close to what was borrowed. Could we have a Japanese style bank catasrtophe on our hands? The money to repay the loans has to come from somehwere...
As a pretty busy person who is ...uninterested.. in the nuts and bolts of the home buying process (points, documents..blah blah blah) I do hope there will always be services that can walk you through that. Six percent seems a little steep to me (in Ca that could be like 30-40,000$), so I would be glad to see some competition bring that down. Being an RE agent does not require a PHD, the commision percentage should reflect that. I really would preffer to use an agent, but I would also preffer to pay that person hourly.
Wow, so your town has stars in it! Big @&^#ing deal! Maybe you'll get lucky and Paris Hilton will crash into your living room drunk. Or better yet maybe 50 cent will get in a gun fight on your lawn. Won't that be a thrill?
"we californian's have nowhere to go but up."What a complete and utter joke!! More like; we are likely to become the foreclosure caiptal of the USA. For every two houses in sacto that sell, another goes into foreclosure.I love this one from Sunnyview also.."The market will not really "fall" until interest rates are higher or until people have to bail out of their overpriced homes due to short sales or foreclosures"Hmmmm...anyone notice any foreclosures or short sales in their neighborhood lately? I could throw a rock out my window and hit three!
As someone buying in the next year or so...please don't put in laminate. I will say as I have before,..leave the upgrades to the buyer unless you are planning to stay for a while in your home. Otherwise go with hardwood. Nothing reeks of cheapness like laminate. I have to agree that lots of other (not me) buyers seem to like granite. But be careful. That could be a short lived fad.And remember,..cheap upgrades are exactly that. Cheap upgrades. If you want something that adds real value you're going to have to put out the money to match.
Why did house prices increase so much in last 5 years?
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