archangel1031

All those interested in buying a house should always make sure they are armed with enough information about their market. A home will probably be the largest investment for most people, so spend some time cruising the net to find out about their local real estate market. There is a wealth of information if you only look. While having a buyer’s agent represent you will help, only you have your best interest at heart. A buyer’s agent is still ultimately paid when you close the deal and buy a home. Ask the agent for all the comparables. I know in my market the prices have gone down on some homes between 10-20% from summer 2005. There are some people still paying high prices, but those are fewer. I am looking in Northern NJ, so I checkout a blog called njrereport.com and also do my own investigation. I am currently renting because you can rent for less than the after tax cost of buying. I save all the extra money that I would have spent on a similar home. If you are not good with numbers there are plenty of calculators on the web available that do this. Good luck to all you potential homeowners, as making an informed decision, is making a decision you will not regret.

Something I’d like to do in the next 5-10 years. I’ll find a job where I can relocate in a different country and from there travel to surrounding countries. Would seriously consider Europe and Asia.

We have enough downpayment for a house, but I believe the real estate market will start declining over the next several years in my local area. I might start looking for a house at the end of 2007. I’ve been following www.njrereport.com to check on news about the NJ housing market. I’ve been to some open houses and look online occasionally, but prices are still a bit insane. Every once in a while I see some possibilities, but I still want a discount on current prices. Realtors keep saying it’s a buyers market right now because inventory is high. That’s BS. It’s a buyers market when prices come down! Inventory is high because there are not many buyers. I believe prices will come down more eventually in my local area. I think they’ve come down about 10% so far. Waiting for now, but opportunity will be coming…