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Looking for the professionals' answer
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Author:  Matt [ Sun Apr 08, 2007 7:31 am ]
Post subject:  Re: Looking for the professionals' answer
sandi wrote:
It's been a few months that we're hearing "the market is gonna collapse"...
williamb hasn't helped the situation since his posts are sorta depressing and very pessimistic... he claims a roller coaster drop is near while I see him purchasing a house...why not wait till the fall happens to purchase if it's the case?

No offence to anyone but we need an answer from the pros (real eastate agents, mortgage specialist ...) could you guys respond to this?

We are thinking on upgrading into a 56' lot from a sterling...but when you read such posts, you worry from the results...I don't wanna buy a house with a 300 000 mortgage and next day learn that my house is not even worth 200 000....end up paying double the house value...

would such a fall happen or the worst it could hit is a 25% drop and then go back up...

Thanks

Sandra (on behalf of Antoine :) )


All the professionals can do is speculate. There is no magic crystal ball. One thing you can do is look at where the information comes from, understand it, then step back and ask your self what is in it for them?
That is why I do not trust 99 % of what mortgage brokers tell you because after all, they want to close the deal and get their commision. And I have seem some really bad advice (in my opinion) and articles posted by brokers from the Banks that just (in my opinion) back up my thoughts on them and where their best interests do lie....

Matt
Author:  Matt [ Sun Apr 08, 2007 8:35 am ]
Post subject: 
property is however meant to be a long term investment. Swings up or down over the years will average out. However that does not help people forced to sell for divorce or job transfer etc.. etc..

I actually know quite a few people who have sold high, and are renting to buy lower. Is that a good idea??? I am not sure... once you pay rent, you get nothing back compared to paying down the principle on a mortgage and hopefully selling for the same if not more than you paid for your house.

Matt
Author:  williamb [ Sun Apr 08, 2007 11:37 am ]
Post subject: 
sandi, it is pretty depressing in the U.S. if you would have read all my posts, you would have seen that, also housing has taken a thumping in the U.S. will cause rates to fall...jmho....and as i have posted, before, it will be a great time to buy the goods , plasmas etc with the huge inventroy builds in the U.S. making it cheaper to buy....thats what i have been saying....and i have been in real estate for over 10 yrs in south florida....goodluck
Author:  HawthorneVillageReport [ Sun Apr 08, 2007 2:21 pm ]
Post subject: 
Three things can happen - homes can go up in value, stay the same, or decrease.

I can show you how every single situation can work to your benefit...

You just need to understand how mortgages and market values work together.

PM me and I'll explain what I mean. I need to run to Easter dinner!


Chuck
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