I am wondering what your source is for interest rates? They are still low...although a bit higher than during "the boom." It wasn't that long ago that folks were paying well into the double digits!
It's a perfect time to buy real estate. Rates are still relatively low, and if you're a renter, you rents will only go up. Don't forget the tax advantages of home ownership.
It's a great time to buy. Find a good Realtor to guide you. Good luck!
Loans are nothing but Green Money; it has turned into a scam with front end and back end charges (you can easily get it both ways coming and going). The Loan Programs that create low monthly payments so that you can lose your equity over time are just there because the house prices are too high in the first place. One feeds off of the other.
Bid LOW until you find a Motivated Seller!!!
Interest rates will come down another .25 to .50 the way things look on Wall Street. TODAY.
As far as Interest rates go. My first house in 1990 was a 15 year @ 9.90%
I remember my parents paying points in the late 70`s to get18%. Just so you keep things in perspective.
North San Jose is one of the few places that has activity. Sounds like a popular place, sounds like a good investment., Remember Location is king. When this market recovers North San Jose will lead the way.
now is the time to buy
There is one on Sabal that has been there for a while have you seen it?
I could show it to you if you'd like.
Coldwell BankerThe Real Estate People