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The house I wanted says “contingent” now

 
RumorsOfDoom

User ID: 82146911
United States
05/28/2022 11:46 PM

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The house I wanted says “contingent” now
Should have not hesitated.
Doom is not dead.
Anonymous Coward
User ID: 79904252
United States
05/28/2022 11:49 PM
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Re: The house I wanted says “contingent” now
the real estate market is collapsing just wait and get more than what you want for half of what you have to pay now for what you want.
RumorsOfDoom  (OP)

User ID: 82146911
United States
05/28/2022 11:51 PM

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Re: The house I wanted says “contingent” now
the real estate market is collapsing just wait and get more than what you want for half of what you have to pay now for what you want.
 Quoting: Anonymous Coward 79904252


You really think so ?
Doom is not dead.
StayCurious

User ID: 82380333
United States
05/28/2022 11:53 PM
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Re: The house I wanted says “contingent” now
Prices are going to fall in most areas, but it doesn't mean it will be easier to buy for the average Joe. We may see a huge tightening on lending and rates may be so high that only those with a lot of cash will be able to buy. Still, I think it's worth waiting and saving if you can.
RumorsOfDoom  (OP)

User ID: 82146911
United States
05/29/2022 12:24 AM

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Re: The house I wanted says “contingent” now
Prices are going to fall in most areas, but it doesn't mean it will be easier to buy for the average Joe. We may see a huge tightening on lending and rates may be so high that only those with a lot of cash will be able to buy. Still, I think it's worth waiting and saving if you can.
 Quoting: StayCurious


Thanks. It was a great price of land but maybe too remote- not realistic for work/commuting.
Doom is not dead.
Anonymous Coward
User ID: 79904252
United States
05/29/2022 12:40 AM
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Re: The house I wanted says “contingent” now
as the interest rates go up and the prices crash get a 10 or 15 year loan not a 30 year loan,if the interest rates haven`t dropped in 10 years, you paid the mortgage off if they do drop in less than 10 years refinance at a lower rate for 10 years never 30 years ,never buy a house on a 30 year loan no matter what the interest rate or payment is.
i bought my house in the early 2000`s 10 years at 5%, it was a struggle paying the bills for a few years but i haven`t had a mortgage or rent payment for almost 10 years if I got a 30 year loan I would have spent the last 10 years paying and struggling and still have another 10 years of paying and struggling ahead of me.
Anonymous Coward
User ID: 83451162
05/29/2022 12:57 AM
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Re: The house I wanted says “contingent” now
Should have not hesitated.
 Quoting: RumorsOfDoom


Even in slowing market the good ones will go fast

Yeah don’t hesitate be ready





GLP