| Posted By |
Message |
Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
|
it's official I got the house looking blues
Warning this is a vent.
After yesterday I wanted to vomit. Everything that is in our price range is now either a short sale, foreclosure that is asking too high and/or a DUMP. I can handle a fixer upper but these are not even livable for the most part.
One house so far is in mint condition, good area of the town but in a bad SD enough that people wince when you mention it, good price - no closets in bedrooms, two pumps in the basement to keep water out (but they work and the basement is dry as anything) - and the kicker is we can't put an offer in until May 27 when we are "allowed" by terms of our assistance program. By then it probably will be in contract.
I just don't know maybe I am sad because my dream of living in the town I grew up is dying since all the homes are too expensive or too much to fix up. And when we go to the area we can afford people say we will be punishing our future children by sending them to that SD when we have coworkers and friends who sent their kids to those schools and they are fine.
So there i have it the first time home buyer blues.
|
Posted 5/12/09 8:12 AM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
kahlua716
3 Girls for Me!
Member since 8/07 12475 total posts
Name:
Keri
|
Re: it's official I got the house looking blues
It certainly is frustrating.
|
| Posted 5/12/09 9:10 AM |
| |
|
Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
|
Re: it's official I got the house looking blues
i have my own house blues too, so i feel ya.....
the only thing i can tell you is that the longer you wait the more money you can save and the better type of house you will be able to get....so if it takes longer than you expected you might end up with a better house in the long run.....
but when you want a house NOW that doesnt really make you feel better - trust me, i know  if my DH and I had more money saved up we wouldn't have to go through this short sale crap - we could just go into contract on any house we wanted....but we know we have to do this on one salary and we want to live really comfortable - so we have no choice to wait it out until something else comes along if things dont go through with out short sale....
i have the blues right now too....
so blah for the both of us
|
| Posted 5/12/09 9:15 AM |
| |
|
|
|
Re: it's official I got the house looking blues
Have you considered looking a little outside that area?
We were going through similar feelings. We were looking in a particular area/SD in which we grew up, and couldn't find anything. We did find 2 homes, but they fell through. We widened our search and found a nice home in a great SD, in a place I never thought I would live.
Also, now that it is spring, more homes are being put up everyday. Keep looking everyday for new listings, and you might find a great one that pops up before anyone else sees it!
|
| Posted 5/12/09 9:25 AM |
| |
|
Megs4
LIF Adult
Member since 11/08 1619 total posts
Name:
Megan
|
Re: it's official I got the house looking blues
When we started looking we began with the towns we grew up in and the ones nearby and thought it might not be possible in our price range. We saw quite a few dumps as well - the kind where we would have to keep paying rent and live in our apartment while we spent tens of thousands to remodel it.
But then we got lucky - our agent was tipped off by another in her company that a house was about to come on the market - a little old lady going into assisted living who needed a quick sale. We went to see it and made an offer right away and now it is ours!!
It is not our dream home, but it was clean and we could live in it right away and in the town I grew up in. Now we are working on updating it and making it our own. But it came out of nowhere just as we were getting frustrated with our search as well, so hang in there!! 
|
| Posted 5/12/09 9:25 AM |
| |
|
nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
|
Re: it's official I got the house looking blues
Posted by Nik211
the only thing i can tell you is that the longer you wait the more money you can save and the better type of house you will be able to get....so if it takes longer than you expected you might end up with a better house in the long run.....
ITA! we waited so that we could buy in one of the best school districts instead of putting aside $20,000 a year for private schooling. i know it's hard when you want a house immediately, but thinking down the road for resale, the houses in the areas with the worst schools just do not hold their value as well as better districts!
|
| Posted 5/12/09 9:55 AM |
| |
|
Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
|
Re: it's official I got the house looking blues
First of all thank you for the support. I am sure I am over reacting and being all blah about this. I am usually very positive so I appreciate the positive vibes.
My issue and this is why i am jumping to buy now is that we can't afford very much so with interest rates are down, prices are low this is really the only time to buy for us. The more money we put away seems to only seem less because now the values of homes are slightly up and might keep climbing bringing us out of reach of owning a house. We can wait until Oct/Nov to buy but I am worried the market may creep back to stability.
Secondly - we are restricted to the town of babylon due to the assistance program we applied to.
Message edited 5/12/2009 10:06:42 AM.
|
| Posted 5/12/09 10:02 AM |
| |
|
Nik211
my little monkey<3
Member since 5/08 3303 total posts
Name:
Nik
|
Re: it's official I got the house looking blues
Posted by Nifheim
First of all thank you for the support. I am sure I am over reacting and being all blah about this. I am usually very positive so I appreciate the positive vibes.
My issue and this is why i am jumping to buy now is that we can't afford very much so with interest rates are down, prices are low this is really the only time to buy for us. The more money we put away seems to only seem less because now the values of homes are slightly up and might keep climbing bringing us out of reach of owning a house. We can wait until Oct/Nov to buy but I am worried the market may creep back to stability.
Secondly - we are restricted to the town of babylon due to the assistance program we applied to.
i hear ya on that - NY is a tough market....for us, we might be better off waiting b/c florida is in the pits....but buying here its a little different - in the area we live now prices havent even dropped - my inlaws can still sell their house at a small profit and they bought about 5 years ago - so you are right about that - you dont want to wait and then prices climb - you'll just be at square 1 again....and you are right about the interest rates as well....you want to get in while rates are still low...
don't worry. i am sure you will find something out there. keep looking and keep your options open. you never know what might come on the market. that is what i keep telling myself - that if i dont get this house i will be able to find something else - it might not be right away but i have faith that there is something out there for DH and I....and i know that when we get it, it will be worth it and i will laugh about this one day (i hope!!)
|
| Posted 5/12/09 10:49 AM |
| |
|
yelley
Fortunate
Member since 11/07 3037 total posts
Name:
Danielle
|
Re: it's official I got the house looking blues
Posted by Nifheim
First of all thank you for the support. I am sure I am over reacting and being all blah about this. I am usually very positive so I appreciate the positive vibes.
My issue and this is why i am jumping to buy now is that we can't afford very much so with interest rates are down, prices are low this is really the only time to buy for us. The more money we put away seems to only seem less because now the values of homes are slightly up and might keep climbing bringing us out of reach of owning a house. We can wait until Oct/Nov to buy but I am worried the market may creep back to stability.
Secondly - we are restricted to the town of babylon due to the assistance program we applied to.
Jen! I totally understand what you are saying. the reason Joey and I were able to buy now was b/c the interest rates were low and housing was low. When we first started looking, interest rates were at SEVEN percent!!! Once they dropped, we were able to add about 70k onto what we could afford, which helped big time. All I can tell you is that there IS the perfect house for you out there.. it takes a lot of time, tears and frustration to find it though...
i'll keep my fingers crossed for you
|
| Posted 5/12/09 11:33 AM |
| |
|
Sparkyandang
LIF Adolescent
Member since 5/08 766 total posts
Name:
Ang
|
Re: it's official I got the house looking blues
Totally sympathize Jenn.
Going through the same thing!!!!
|
| Posted 5/12/09 12:41 PM |
| |
|
mcd01
Life is good : )
Member since 3/09 1932 total posts
Name:
Melissa
|
Re: it's official I got the house looking blues
|
| Posted 5/12/09 2:58 PM |
| |
|
Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
|
Re: it's official I got the house looking blues
can I come in with the house sellers blues?
|
| Posted 5/12/09 3:29 PM |
| |
|
Melmel821
Love being a mom!
Member since 5/08 2776 total posts
Name:
Melanie
|
Re: it's official I got the house looking blues
Posted by Nifheim
First of all thank you for the support. I am sure I am over reacting and being all blah about this. I am usually very positive so I appreciate the positive vibes.
My issue and this is why i am jumping to buy now is that we can't afford very much so with interest rates are down, prices are low this is really the only time to buy for us. The more money we put away seems to only seem less because now the values of homes are slightly up and might keep climbing bringing us out of reach of owning a house. We can wait until Oct/Nov to buy but I am worried the market may creep back to stability.
Secondly - we are restricted to the town of babylon due to the assistance program we applied to.
I see your point. Even with the housing prices and and interest rates what they are, we decided not to buy now. First of all we don't have that much of savings and I haven't even looked into qualifying for assistance although I know we don't qualify for sonyma.
To me, I don't feel we are ready even if we had more money. So that kinda makes it easy. But the truth is the market is naturally going to go up and down. And with the economy the way it is I doubt anything is going to return to what it was.
With a small DP you will have more of a loan to pay off and compounding interest that adds up. I didn't do the math but that could offset and savings you get.
|
| Posted 5/12/09 4:13 PM |
| |
|
