[motomummy]

in the fed rate. Talk about major. First time in 23 years. Everyone with variable interest rates or looking to buy a home should like this news...

 

[SoySauce021]

wow that is insane, but price houses are still pretty bad in the Bay Area.

 

[R1Lover]

They were expecting a big hit today and they tried to avoid it... the drop did it's job well.

otherwise it would have been one of the largest drops in the market in history.... (so they said)

 

[motomummy]

yah, we looked at cali then laughed at the prices for houses...it's just insane

the problem is that this isn't a permanent fix...can't keep rates this low all the time just because our entire country is over spending

 

[R1Lover]

Actually now is a great time to buy in cali... the housing prices have dropped about 30% in the last year... lol IMO there still needs to be a little more correction though.

 

[SoySauce021]

Actually now is a great time to buy in cali... the housing prices have dropped about 30% in the last year... lol IMO there still needs to be a little more correction though.

R1Lover, IMHO
1. prices have dropped only in the less affluent areas...Places such as the Bay Area, LA/San Diego have remained relatively the same (little decrease but not much). There are some short sales and foreclosures but those are few and far in between for a decent place. Still looking at 650k+ for a decent house...I know I'm currently in the market. :frown

2. Good luck getting a loan...you need exceptional credit and a good paying, steady job.

3. I need to find a rich wifey to support me, then I wont have to worry about this. :biggrin

 

[Biga]

I need to buy a winter house in FL, I should go look at some real estate.

 

[Leon]

Don't look in south FL. Housing prices still suck here.

 

[Biga]

Don't look in south FL. Housing prices still suck here.

Actually I want something in the Naples area, that is where we go if we are in FL

I just came back from a three week vacation there, loved it

 

[crimson49er]

wow that is insane, but price houses are still pretty bad in the Bay Area.

ain't that the damn truth. i've got over $70g's saved and i still can't afford the down payment on a house!

 

[Grandevil]

I was watching the news earlier, the rates are lower but it's now a lot harder to actually get those rates. I think they said before a good credit score was something like 680 and now it's up to 720.

 

[motomummy]

mel they also are wanting some money down but with a good credit score you can still do it zero down if you wish. myself and the wife are looking at buying in a few months actually and just did the pre-approval process last week.

 

[SoySauce021]

ain't that the damn truth. i've got over $70g's saved and i still can't afford the down payment on a house!

I'm in the same boat as you Crim :frown

 

[motomummy]

you guys need to look in different states LOL 70g should be a good downpayment nearly anywhere

 

[SoySauce021]

you guys need to look in different states LOL 70g should be a good downpayment nearly anywhere

No place like home tho

West Side, the best side

 

[R1Lover]

That's a nice little drop... one of the biggest in history I think

 

[Captain Squid]

Damn I wish I had 70K to put down on a house

 

[Fukucacheme]

Actually I want something in the Naples area, that is where we go if we are in FL

I just came back from a three week vacation there, loved it

look to the North in Jacksonville or Fernandina beach area. I got cheap cheap prices on that work:thumbup

 

[Wicked1]

jeezus...if someone dropped 650k on a house here they would have a couple acres of land and one of the biggest and badest houses around...150k gets you a pretty nice house in these parts:fact

 

[Captain Squid]

jeezus...if someone dropped 650k on a house here they would have a couple acres of land and one of the biggest and badest houses around...150k gets you a pretty nice house in these parts:fact

Same here.....you can get a NICE 3 br 2 ba house on some land for $150K to $200K