Friday, January 18, 2008

Hey, we're now the ideal buyer!

According to this article in the NYT, "Sorting out the New Housing Market", we are now the ideal buyer! In other words: we're renters with flawless credit and enough cash for a down payment. We don't need to sell our house before buying one, and we don't need risky loans.

However we're really enjoying our freedom, knowing that we could move at a moments notice and not have to sell a house. Or that we could downsize and slash our rent if we wanted to cut costs. Or that we could live off that cash cushion for months. Plus we're living in a rental that would cost us 30% more to own. Let's just say that we're in no hurry to jump into a house.

5 comments:

Kirk Coburn said...

We moved to Beaverton in July 2006. There have been two homes for sale ever since then. They have gone on and off the market, available as rentals, and are now back on the market again. Built in 2005, and purchased for $305,000 and $310,00 respectively, now being sold for $179,000 and $192,000 in "desirable Southridge HS District." Never lived in either! I keep hearing that our market is appreciating, and will continue to do so. We have "bucked the trend," etc. This is all the proof I need to see that just MAYBE the Realtors need to face the facts and maybe go back to their day jobs.

Kirk Coburn said...

*Correction to above comment*

The homes in the aforementioned neighborhood are currently listed at $279,990, $285,500 and $294,950. The homes were all purchased for over $300,000 in 2005 as brand new construction. MLS # 8001040, 7117171 and 8004193.

Anonymous said...

This is a great blog. Hope you're getting some traffic!

elneal said...

Wow- I guess I'm an ideal buyer as well- I only wish I could find an ideal realtor in P-town to work with. I've spoken to and been unimpressed by 3 so far.........

Any suggestions? I'm looking in the SW area.

Ian said...

Hi elneal,

I have only worked with one local realtor, if you send me an email to autoarcheologist at gmail dot com I will forward on her name and my comments, as well as a few others that I think are worth interviewing.