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Trulia Jacks…, Other/Just Looking in Jacksonville, FL

How do you determine when it's not a good time to buy?

Asked by Trulia Jacksonville, Jacksonville, FL Wed Apr 17, 2013

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If you just start a new job, it is not a good time to buy a home. Lenders will want to make sure you have a stable job and can pay your bills on time.
If you do not have enough money saved for down payment, closing costs and at least two months of mortgage payment saved up.
If you know that you only will be in the house for less than five years, renting a home is more economical.
If you did not have been pre approved by a mortgage lender, you are not ready to buy a house. This should be your first step to know exactly how much money your budget can afford to put toward a home purchase and loan.

Best of Luck,

Maria Cipollone
5 votes Thank Flag Link Thu Apr 18, 2013
Good morning,

The best time to buy a home is the time when you are ready, qualified for mortgage financing, you have a good solid understanding of your price range and location and preferred features of the home you want and WHEN you go out there, shop 'til you drop, find a home that meets your needs and a Seller willing to sell at the price you're willing to pay.

That's the best time.

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a "Thumbs Up" or "Best Answer." Thanks!
0 votes Thank Flag Link Thu Apr 18, 2013
It is not the time in which you buy that determines if it is good or not. It is HOW you buy that determines if it is GOOD! Houses can and are sold in every market. What determines if the transactions is good depends on which side of the transaction one is on and the details of the deal.
The worst time to buy is when you CAN NOT BUY unless offers a predatory Zero Downpayment 'opportunity'' or you walk into the lobby of Chase, Bank of America, or Wells Fargo. Let's face it, YOU ARE NOT READY TO BUY if you have no downpayment. This is therefore a BAD time to buy becuase there is certain calamity in the future.
If you do have the downpayment, the next step is understanding the purchase objectives.
Then comes negotiating the right price, terms and conditions.
It is not until the process has completed that right or wrong can be determined and each determination is dependant on the goals and expectation of the buyer.
If that's too compiicated, then Spring is better than January.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, Fl
0 votes Thank Flag Link Thu Apr 18, 2013
Good morning, the answer has to be when you feel it's right for you. The market has never been better . Home prices are low, the interest rates are at a all time low, what a awesome combination. The only other question would be if you are ready to purchase. Which I think is a personal one. Rent prices are at there highest. I can't think of a better time to purchase. I hope this helps any other questions please feel free to call me at 904-505-5083 are email me at LeneepurdyRealtor@Yahoo.com. Good Luck.
0 votes Thank Flag Link Thu Apr 18, 2013
How do we determine when it is not a good time to buy? The only time that I know is not a good time to buy is if you CANNOT buy due to lack of good credit.....when a property is NOT worth buying...when the location is not right for you.....when you have health or family issues that create problems negative to buying......when you just do NOT have the money......when the property is in such poor repair that you cannot handle the problems the property brings either financially or for other reasons........there may be other reasons...but, you have the idea.
MOST of the time it is a GREAT time to BUY....JUST so you pay a FAIR price and do not over pay.....just so you can get the financing or can pay cash.....JUST so you know what you are getting into.....JUST so you have a home inspection or know a great deal about building, condition, etc. JUST so you contact HICKORY an or me, DONNA.....we will make sure you know the GOOD, the BAD, and the UGLY of each property you consider.....we assist home owners, home buyers, investors......contact us......looking forward to assisting those interested in REAL ESTATE!
(904) 732-PACK (904) 732-7225 startpacking@comcast.net
0 votes Thank Flag Link Wed Apr 17, 2013
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