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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (282870)	10/12/2010 6:35:20 PM
From: tejek	Read Replies (1) \| Respond to of 306849

"We probably overpaid for it -- but we're happy here," Feldman said, adding that he and his wife's decision to buy had less to do with calling a market bottom than settling into a community their two young children, nearing school age, could grow up in." If his family is going to live there for 20 years and he can afford a fixed rate amortizing loan at today's rate he made a wise quality of life decision even if values there drop another 20 percent first. On a 15 year fixed under 5% your principle is going down about 40% after the first 7 years. The thing is in NJ they won't drop another 20%. He may have bought back in a little early but prices in the NY Metro area have been stabilizing for months now. They guy is very clever......or very lucky.