Asked by Annapalindrome, 90027 • Mon Jul 28, 2008
We are first time home buyers and newlyweds looking to buy our first home. We found a great deal 290,000 for a 2 br, 2.5 bth condo in Glendale, but since it was a short sale we have been waiting and watching the interest rates go higher and higher and surrounding prices drop lower over the past 45 days that it has taken to get the final approval from the lender. We should get approved in the next few days, but I'm starting to doubt our decision. Would it be wiser to wait for a SFR to drop into our 350,000 price range or try to get a better deal? Is this still a good deal even though interest rates have risen so much? We have about 60,000 for a down payment, we just want to make the right decision. Thanks for any advice!
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