opinions please? Buying a house

[MrsCobraBubbles]

You have enough advice, so I just want to give best wishes on everything.

Actually wait! I do want to give advice - never buy something where you have some any slight agitation about, wait for the place that you're at absolute peace. Even with bidding wars, you just never know. I was in constant bidding wars in a downtown market and two places I got for strange reasons. One was at a lower price than another offer, because I actually refused to play on with that one and backed down and out, but regardless the buyer simply trusted us more and did not take the higher offer. So weird crap happens, even in crazy markets..

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But in my more important words, I have been on here a long time and therefore I know where you have been & how you have singlehandedly kept everything together. You should be so damn proud of yourself, it could not have been easy at times.

I am very happy for you & your family. All the best with your choices.

Thank you! Your reply made me cry, but in a good way!

 

[tvguy]

So offer 30K less (your realtor does have to make any offer you want)...and see what they say. In a market that is on the cusp of going down (which this market is), some sellers will jump before they have to price adjust anyway.

And either way - you'll know you can't afford it if they refuse or you'll have the house at the price you can pay for it - win/win...

Housing markets vary. Seems sales of existing homes have come to a screeching halt here in the Sacramento area. We have a house on our street that has been on the market 75 days. The Realtor went door to the door talking to the neighbors trying to drum up interest by getting neighbors to spread the word about the house. He says he figured this house would be gone in 2 weeks. They just this weekend cut the price by $20,000 but the owners are investors are in a bind. They bought the house in March, sat on it for 6 months, did a remodel and in the time interest rates soared. Right now the house is listed for $120,000 more than they paid for it, and I have to wonder how much they spent remodeling. Going to be hard for them to make a profit after commissions are paid.

 

[barkley]

Seems sales of existing homes have come to a screeching halt here in the Sacramento area.

that's because the national news is giving the impression that the entirety of sacramento is below sea level right now.

 

[tvguy]

that's because the national news is giving the impression that the entirety of sacramento is below sea level right now.

It's on a hill. I am surprised the west coast flooding is getting coverage. After several years of drought, people forget what a normal rain year is, and that many of the places that are flooding are in floodplain and are supposed to flood. And this week according to Forbes, Sacramento is the best city in California to live in.

 

[Pea-n-Me]

There’s not much left to say that hasn’t been said. I agree with most that it might be good to see what else is out there that has more of what you need yet is more affordable for you. My thought always was over the years, what if something happens and we can’t work? I know that’s what emergency funds and disability policies are for, but still, it worried me. Once I had short and long term disability policies in place I slept better, but I never wanted to be in a place where we couldn’t pay our bills. I feel like with the first house, things would be a little too tight. One illness could sort of throw your life off balance, especially in this economy.

I didn’t see it mentioned about the apartment, but one thing I always kept in mind in our house was that we have a legally rentable apartment. We built it for my mother but jumped through a lot of hoops where we live to make it all legal. So I always had in the back of my mind that if I had to, for income, I could rent it out. I would ask about that for that apt. in the first house - and be absolutely certain. It sounds like you want your son to have it, but if it is legally rentable and you wanted to do that, it might help you be able to afford the house more. The question would then be whether you want to live with a renter. (I didn’t, really, and thankfully we never had to, but my DD is starting to fix it up to rent herself now, which I don’t mind.)

Good luck with your search!

 

[edmara464]

I can definitely understand your concerns about the financial aspect of buying a house. It's important to have a safety net in case of unexpected events. It's also a good idea to consider the rentability of a property, especially if it's a separate unit like an apartment.

 

[Dan Murphy]

I can definitely understand your concerns about the financial aspect of buying a house. It's important to have a safety net in case of unexpected events. It's also a good idea to consider the rentability of a property, especially if it's a separate unit like an apartment.

Welcome to the dis, ed.

 

[MrsCobraBubbles]

Since this post popped up again, just want to say I missed out on both properties (and a couple others since then too!). The market here still stinks but I have something else in the works, not going to jinx it by talking about it yet. I'm definitely not getting out of this apartment by the end of this month like I wanted.

 

[flyingdumbo127]

Mrs. Cobra Bubbles and all the best to you! Prayers a new home is indeed soon to come and will be a place of new beginnings, happy memories, and joy.

 

[Disneybuckeye]

I also wanted to send best wishes to you on your home search. Take your time and buy what you want. It will happen. It just might take a lot of patience, but will be worth it in the end.