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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Warpfactor who wrote (9228)	10/9/2001 11:58:03 AM
From: kodiak_bull	Read Replies (4) \| Respond to of 23153

If you must buy this year, then late December is probably the best. If you must buy next year then late December is probably the best. If you must buy no later than 2003, then late December . . . Just kidding. In all seriousness, go back to my post and see what kind of asset real estate is likely to be over the next few years. I don't know the Bay Area (and real estate is a very local commodity, it goes without saying), but I would look for a 1600 square foot townhouse and see about renting it. Take a spreadsheet in combination with a Quicken Turbotax form and figure out how much your real estate tax benefit is going to be from buying, how much you can earn with your down payment in the market (by listening to wise men like Gottfried and Dabum), and think about all the other fudge factors (job security, future pay raises). As expensive as a $400K house/townhouse might be on closing day, watching the equity evaporate over the course of several years would be measurably worse. Someone on this board from Houston, hey JimP, tell a few stories about the Houston market in the 1980s, willya? Kb

To: Warpfactor who wrote (9228)	10/9/2001 12:22:59 PM
From: Gottfried	Respond to of 23153

duplicate deleted

To: Warpfactor who wrote (9228)	10/9/2001 12:22:59 PM
From: Gottfried	Respond to of 23153

duplicate deleted

To: Warpfactor who wrote (9228)	10/9/2001 12:23:22 PM
From: Gottfried	Respond to of 23153

Warp, waiting till December or late November sounds right to me. Your price range is low by Bay area standards and I think 'reasonably' priced homes won't go down much further. Mortgages are perhaps as low as they'll get. Even if the value of your home drops another 10% after you buy, it will be temporary. I'm assuming your job is safe. If I was boss, I'd move to Alameda, too, because that's where my sailboat is berthed. :) Is it possible to lease with option to buy? Gottfried