Home Buying & Real Estate Thread

oidreez said:
I'm just a lurker. Why?
Click to expand...
Housing market is looking like a prize fighter in the 10th or 11th round.

Recession is looming if not already here (we are in a recession no matter what the feds say).

Interest rates are high as **** and market slow down began a couple months ago in many markets.

We are already seeing something we haven't seen a ton of in the last 2 years with for sale prices dropping. Unless you find "the perfect house". It's not a bad idea to sit it out and see how things shake out over the next 6 months.

I personally was in an expensive lease and my mortgage might be 200 bucks more than I'm paying to rent currently so it was a no brainer at 5% down. Plus I'm trying to lock in a GREAT school district for my son. Had everything else been out of sync I probably would've just waited it out. Cash is definitely your friend in a down market.

Hope this helps my lurker friend. Don't be afraid to ask questions, this is a safe space and although we might go back and forth from time to time I truly believe most of the regulars in here only want to help others and share their experiences/ insight.
 
ecook0808 said:
Cash is king in this down market - wealth is made in a recession boys
Click to expand...
I know you on the indie side but for my workers out there don't be afraid to up those 401k contributions for a while as well.

Buy low sell high is still the name of the game.
 
sneakaprince said:
Since this duplex is a personal residence I was able to find a 5% down payment program with a local bank. I took an ARM since the rates are currently lower than the fixed rates. Hoping once my remodel is done and rates settle I can refi into a 30.


Until then I'm keeping cash on hand. I need another 4 unit next year.
Click to expand...
Surprised a seller took your offer serious with only 5% down :lol:
 
Raji Lowenthal said:
Surprised a seller took your offer serious with only 5% down :lol:
Click to expand...
We made a cash offer. Switched financing at last minute... Don't sleep we still playing to win out here.

I had 30 days to close and a long list of loan officers at my disposal.

Not gonna front though this **** was stressful and it helped that I had friends with considerable cash on hand reserves.
 
sneakaprince said:
We made a cash offer. Switched financing at last minute... Don't sleep we still playing to win out here.

I had 30 days to close and a long list of loan officers at my disposal.

Not gonna front though this **** was stressful and it helped that I had friends with considerable cash on hand reserves.
Click to expand...
Just messing with you dude :lol:
 
q0ut3x8wcat91.jpg
 
Are prices dropping? Everything seems to be staying the same here in Florida. Less people moving due to interest rates seems to have kept inventory down which has kept prices the same.
 
HarlemShakeStory said:
Are prices dropping? Everything seems to be staying the same here in Florida. Less people moving due to interest rates seems to have kept inventory down which has kept prices the same.
Click to expand...
Prices sellers are listing have fallen due to interest rates, but the cost to buyers has gone up due to interest rates.
 
Prices at the peak of the bubble were better.

Sure my down payment might be less now, but I’m not tryna pay an extra 1.5-2k per month
 
i’m so glad we got the crib. Now just gotta pay it down over the next 5 years hope rates really drop randomly sometime over the next 5 and enjoy the benefits. Feels so good paying into an asset instead of into rent.
 
You must log in or register to reply here.

Thread Gallery

View Full Gallery

The ultimate sneaker enthusiast community.

NikeTalk was created as a way of giving back to both the sneaker enthusiast community and to the greater global community of which we are all a part.

NikeTalk is NOT affiliated with Nike Inc. in any way, shape, or form. All opinions expressed herein do not necessarily reflect those of Nike, Inc.

© 1999-2024 NikeTalk.com

Share this page

Back
Top Bottom