Posted on: 12th Jun, 2009 04:29 am
Hello.
I want to wait for house purchasing another 6 months to save 20% down payment. seems interest rates are going up ? what should I do ? what is the prediction ? by the way I am planning to buy in the CA. Is house rates going down or up ?
I want to wait for house purchasing another 6 months to save 20% down payment. seems interest rates are going up ? what should I do ? what is the prediction ? by the way I am planning to buy in the CA. Is house rates going down or up ?
guest, none of us has a crystal ball, and even if we did, those things don't work anyway.
news the last couple of days seems to indicate that our recession is coming to an end and that probably would mean higher interest rates. as for home prices in california, i would anticipate that those won't be changing upward any time soon. we haven't seen the last of the foreclosure/short sale period yet.
news the last couple of days seems to indicate that our recession is coming to an end and that probably would mean higher interest rates. as for home prices in california, i would anticipate that those won't be changing upward any time soon. we haven't seen the last of the foreclosure/short sale period yet.
I think this is right time to buy property.
It will definately benefited in couple of years.
It will definately benefited in couple of years.
You should always think of good return.So it is better to invest now.
i didn't say as much in my earlier post, but the current market is undoubtedly worth looking at in terms of purchasing. and for first time homebuyers, of course, there's up to $8000 coming back from the irs if they close by december 1 of this year.
As George stated, there is a great benefit behind purchasing a home before Dec. 1 2009. If you're willing to pass up on the Tax Credit and hope interest rates go down or do not increase, please understand that is a risk and you will have to be prepared if rates do go up. So, make sure you are still capable of owning a property if rates rise and you face a higher monthly payment. I hope this helps...
I do not have 20% down payment. My wife owns a home. I do not think I am eligible for $8000 and FHA loan is also not an option. Since her debt/income is bit high and fico score is 660.
I agree with George that this is probably a good buying opportunity. The California thing scares me though. They are seriously under water there. The other problem is there are MANY people who are self employed and there are virtually no stated income loans in that state. Many borrowers simply cannot qualify. I would think this would continue to lead to more foreclosures and lower prices.
