I am "prepared" and can meet the paymetns one the house, even if rates go quite a bit higher in the next several months, I just won't like it that much.

I guess if I have to look on the bright side, the higher I lock on this new house, the easier it will be to refinance to a lower rate in the future.

The other downside is that I LOVE my current place and hate to give it up. I just see the new one having more potential to appreciate because of what it offers and the current one kind of topping out for what it offers. I hope you like your new place.

 

Thanks!

I love mine, because it has a kick ass two-car garage. It is big enough to be a workshop.

The previous owner is a retired builder. He built it several years ago. He even installed a industrial strength ventilation fan in it. I can warm up my car without opening the garage door. It even has drains on the floor, I can wash my cars inside.......

Priceless!

 

I bought my current house 7 1/2 years ago for the quiet and safe area to rise children. I did not buy it with future appreciation in mind.

If you give up your current house and move into your new house, you should think about the new house will be your home for the next 10 years or more, are you happy with it ? If you are, then it is the right move, regardless of future price, up or down.

 

I just bought a new condo, closing in May, I am not willing to gamble on the mortgage side, I am going with a fixed rate...

Lets hope that bubble doesn't burst anytime soon.

 

My house is now listed...........I need showings. Bumping.

 

SOLD!!!!!!! In one week. (at least purchase agreement is signed)

99% of asking price.

Ok now who wants to give ol' Vader One and his dog Chewbacca a place to stay for 6 weeks between my closing and when the new one is finished?

 

a lil update

http://biz.yahoo.com/ap/050426/economy.html?.v=14

 

Just an update...I just closed on that condo today and I am happy to say they are already selling for about 10k over what we purchased it for.

Long live the real estate bubble!!!

 

SELL! SELL!

 

i hope someone else on here is a mortgage loan officer like me who has to watch everything that is going on. i live and work in 2 of the richest counties in america ( bergen and morris counties in jersey you can look it up if youd like) realestate has on average has made 6.3% every year for the last 30 years. in the markets around here it is going up 12- 15% every year so if we come down to the average is that considered a crash or a leveling off. the area where the house is being bough also matters, depressed areas are so far below the market they they only have one direction to go and that is up. urban markets will always boom as long as people are tryin to build it up. the only thing in this world that is being made any more of is space so buy as much of it as you can and dont think inside the box if the market slows for a few years it will go up for a few after that so stick it out, it is an ebb and flow up and down. any one has any mortgage questions i would be glad to help you out. my email is jamesalbanese1@verizon.net oh and the to show that interest rate isnt as important as every1 thinks
300,000 at 5.75 is 1750
300,000 at 6.25 is 1847
97 more bucks for something that you want doesnt sound so bad to me. i would work the payoption ARM and pay about 500 for a 300,000 mortgage sounds evenbetter