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Today's Poll - Is now the right time to buy a home?
Let's open this up for discussion. Right now, The Bakersfield Californians Poll is showing "no" as the leading vote. What are your thoughts - yes, no, don't know, and discuss it. I personally say no, this is not the right time, hold out for Jan/Feb when all the foreclosures, ARM's starting really playing havoc, etc.
2 comments from 2 users
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posted by
woofwoof
on Sep 9, 2007 at 08:59 PM
I said, I'm not sure. There's lots of homes for the picking right now though. Unlike when we bought in 2003 where they were selling like hot cakes, we'd bid on them and we would be out bid everytime. It would suck to buy a home right now and they drop so low you're backwards in your loan. I don't think we've hit bottom yet. posted by
Bakersfieldbubble
on Sep 9, 2007 at 11:06 PM
$ 2 trillion of loans will reset at higher rates in the next 18 months. Anyone who buys before this reset cycle plays out is going to regret buying.
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