Home Buying in 34685>Question Details

Squeaky, Both Buyer and Seller in 34685

Would you purchase a different home for yourself today or wait a year if you were under no pressure either way?

Asked by Squeaky, 34685 Sat Oct 30, 2010

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11
Gwen Campbell’s answer
If I could purchase a home either today or next year, and I need to sell a home to do so, I would definitely purchase the home today. We have a perfect balance of plenty of inventory, low home prices and historically low interest rates. This is without a doubt the best buying climate we have ever had in my lifetime today. And although selling my home would be at a loss, what I would be gaining both in low price (or more house for the same price) and low interest rate would far outweight the loss of selling my home now. If the interest rates rise as they are predicting, just a tiny rate increase really cuts down my buying power, and a large increase which is possible by next year may prevent me from making any headway in my investment. I hope this helps.

Gwen Campbell, Realtor, SFR, ASP, ALHS
Sun Bay Associates, LLC at Keller Williams Realty
http://www.SunBayAssociates.com
727-939-1515
1 vote Thank Flag Link Sat Oct 30, 2010
Squeaky,

You never know when the right house for you is going to come along....so start looking now so you don't miss it. You may find it right away or it may take some time. Not being under pressure gives you the luxury of time...but not looking raises the possibilities of missing out.

Whether you are currently looking for a home or just browsing on line for now... I have a free service called “Listingbook”, which I provide for my clients. It is like a back door into the MLS which updates daily: new listings, price changes, solds & with-drawns, allowing you to really be able to follow and learn the market. I set up a basic search according to your guidelines. Once you are in, you can change the parameters as you need. If this is something you would be interested in let me know & I would be glad to set up your free Listingbook Account.

If you live in the Tampa Bay area, I also have a free automated service called CITY (Curbside Info to You) available 24/7. I will issue you a number you can call in on ANY sign and it reads the MLS information to you from the street address for all ACTIVE lisings in the MLS. If this would be helpful let me know. I just need your cell phone and an email to register it. If you want to put it on multiple phones, for more than one user, just send the numbers you want added. I will email you a number you can call in on to get the information. Put it in your favorites for quick access when you are driving around.

I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.

Sincerely,

Pam Cohn
Broker Associate, GRI, SFR, CDM, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
pcohn@prutropical.com
727-204-7155
0 votes Thank Flag Link Mon Nov 1, 2010
The only clear way to answert this question is to ask: "What's important TO YOU about buying a new home?"

There should be no pressure either way on such a momentous decision--this is your home, not an investment property--these chocies should be based entirely upon what makes you happy, and where you will be most comfortable, not on what the market is doing or whether interest rates are low.
0 votes Thank Flag Link Mon Nov 1, 2010
I would do my homework and look for the best deal. Interest rates are low and inventory abounds. That being said, I would really look around and explore both buying and selling. What I lose with the sale I make up with the new upgrade. So it is awash. I would take my time finding that perfect and special property.
Good Luck!

Genevieve Ramachandran
Thomas Ryan Associates, Inc
0 votes Thank Flag Link Mon Nov 1, 2010
I would purchase something today, but with not having the pressure of moving I would really take my time on finding something special. There are so many opportunities out there at the moment and price being so low as well as interest rates that I truly believe now is the time.
0 votes Thank Flag Link Sun Oct 31, 2010
Hi Squeaky. Your decision could be guided by whether or not you are satisfied with your present home and could see yourself staying in this same house for an indefinite period or time; or whether, given the right circumstances, you would prefer to take advantage of the significantly deflated prices and low interest rates to move to a way of life or neighborhood that was previously out of your reach. If you've lived in the present home for many years and your new home has a higher market value, you would also likely want to also consider any additional property taxes. You can view the Pinellas County Property Appraiser website at http://www.pcpao.org to see a calculator for use in determining the portability of your homestead exemption. Good luck to you regardless of your decision.
0 votes Thank Flag Link Sat Oct 30, 2010
It depends on so many factors. If I was under no pressure, why would I ever buy? It's something that comes form inside. Some people don't feel like their life begins until they own a home. Other people hate paying rent to anyone. If you don't feel that way, buying or not buying doesn't really matter.
Web Reference: http://MintProperties.net
0 votes Thank Flag Link Sat Oct 30, 2010
Given the significant price reductions in the local market combined with the extremely low interest rates (assuming a mortgage would be required) I would definitely purchase a home sooner rather than later. If property values continue down another 5-10% over the next year you would still be ahead of the game given the unlikelyhood of mortgage interest rates staying this low. This is even more so the case if you are willing to purchase a short sale or REO property.
Web Reference: http://www.JamieEverett.com
0 votes Thank Flag Link Sat Oct 30, 2010
I need to think about that question for a year or so..... Its too soon for me to commit to an answer. Buying a HOME is like selecting a mate, husband, wife, etc.

Get back to me Halloween 2011
0 votes Thank Flag Link Sat Oct 30, 2010
It all depends on that person.... ONE YEAR from now so much can happen INTEREST rates are low.

You receive annual tax benefits owning a home WHY make a landlord richer?

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sat Oct 30, 2010
I don't understand your question.
0 votes Thank Flag Link Sat Oct 30, 2010
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