Buyer heads up. We're been waiting it out. Boss lady's been saying wait until after June and it looks like that is going to pay off. Prices have been dropping off the cliff here for new homes putting pressure on sellers of used. I might enjoy mowing again.
I wouldnt buy a new home just yet. We have yet to hit rock bottom and when we do that new home wont be worth shit cause the builder or bank went under. I would wait, prices will not go up anytime soon and neither will the rates.
Following trends, my buisness is usually the last to be affected by trends in new construction housing. Using that as an indicator, I would start looking now. It is defenitely a buyer's market. If you have a good credit score and have a nest egg, go for it :up:
Sry, forgot the article -the reason for posting this. http://finance.yahoo.com/news/New-home-sales-plunge-33-pct-apf-1718773153.html?x=0&.v=1
where were you looking at buying? There is a pretty good selection in foreclosures. We bought 2 at auction dirt cheap east of kernan.
Anybody heard anything on extending the deadline to close for those already in a contract? I heard the end of a report saying because of the rush to get so many homes closed this month it has bogged things down and some people (probably me :down won't close in June. It said the senate already passed it but I can't find a thing about it...
I just snatched up a foreclosure last week. It is a fierce battle right now with investors. I had to bring a loan to the table, but these guys with all cash are just killers. This is my first time jumping into something like this. Did lots of research and homework so I am confident I will come out right side up. I plan on documenting the entire flip from bottom to top. I will post up some updates in a thread here so you gents can see the progress. I will be doing all the work myself in addition to my normal full time job. Gonna have no life for the next three months, but oh well.
that statistic is bs, 8k is peanuts depending on the market you are in. In this area a cheap home is 600k and up so 8k is not a deal breaker. I think that affects other areas of the country more when housing is 200k and under. The real killer right now and not for just housing is lending. We have people coming to the table with 40% down and the bank denies a mortgage, the banks are afraid and the appraiser worst. He comes out and says that 600k property (that was 8-900K two years ago) might not be worth 500k today and even less tomorrow. Amazing how those same dickheads said the same house was worth 8-900k 2 years ago when they wrote up the other 300 homes in that development. Without construction this country is in bad shape.
