Best way to buy a house now?
#7582152
05/11/22 06:24 PM
05/11/22 06:24 PM
|
Joined: Dec 2006
Posts: 21,708 Sandhills Nebraska
Gary Benson
OP
trapper
|
OP
trapper
Joined: Dec 2006
Posts: 21,708
Sandhills Nebraska
|
A friend wants to buy a house in Arkansas so she can go live by her Grandbaby. With the stock market down as it is, should a person borrow and hope the stocks rebound, or cash it in and pay cash?
Life ain't supposed to be easy.
|
|
|
Re: Best way to buy a house now?
[Re: Gary Benson]
#7582159
05/11/22 06:42 PM
05/11/22 06:42 PM
|
Joined: Oct 2014
Posts: 4,177 Eau Claire Wi
Trap Setter
trapper
|
trapper
Joined: Oct 2014
Posts: 4,177
Eau Claire Wi
|
Just my personal opinion but now seems like about the worst time to buy in the last 10 years but... without a crystal ball it might be the best time to buy for the next ten. I personally wouldn't cash out in this market unless I had to.
Sorry no help
Life sure is tough when you don't learn from the mistakes of others.
|
|
|
Re: Best way to buy a house now?
[Re: Gary Benson]
#7582167
05/11/22 06:51 PM
05/11/22 06:51 PM
|
Joined: Dec 2013
Posts: 14,861 Greene County,Virginia
run
trapper
|
trapper
Joined: Dec 2013
Posts: 14,861
Greene County,Virginia
|
I would say it depends on the neighborhood. If you are buying in a meth head neighborhood, probably a bad idea.
wanna be goat farmer.
|
|
|
Re: Best way to buy a house now?
[Re: Boco]
#7582173
05/11/22 06:59 PM
05/11/22 06:59 PM
|
Joined: Dec 2006
Posts: 21,708 Sandhills Nebraska
Gary Benson
OP
trapper
|
OP
trapper
Joined: Dec 2006
Posts: 21,708
Sandhills Nebraska
|
Best house to buy today is one on wheels. I think you are right. That's what I'm in at the present.
Life ain't supposed to be easy.
|
|
|
Re: Best way to buy a house now?
[Re: run]
#7582174
05/11/22 07:00 PM
05/11/22 07:00 PM
|
Joined: Dec 2006
Posts: 21,708 Sandhills Nebraska
Gary Benson
OP
trapper
|
OP
trapper
Joined: Dec 2006
Posts: 21,708
Sandhills Nebraska
|
I would say it depends on the neighborhood. If you are buying in a meth head neighborhood, probably a bad idea. Definitely not meth.. Just outside Fayetteville Ark.
Life ain't supposed to be easy.
|
|
|
Re: Best way to buy a house now?
[Re: Gary Benson]
#7582263
05/11/22 08:59 PM
05/11/22 08:59 PM
|
Joined: Dec 2008
Posts: 1,749 eastern washinghton
70sdiver
trapper
|
trapper
Joined: Dec 2008
Posts: 1,749
eastern washinghton
|
all depends on the purchase price and how much is in the 401k. will this be a third of the 401 k ? how long before retirement? Just to many unknowns to make a call.
|
|
|
Re: Best way to buy a house now?
[Re: adam m]
#7582321
05/11/22 09:42 PM
05/11/22 09:42 PM
|
Joined: Dec 2006
Posts: 21,708 Sandhills Nebraska
Gary Benson
OP
trapper
|
OP
trapper
Joined: Dec 2006
Posts: 21,708
Sandhills Nebraska
|
Tell her to get pre-qualified asap. Interest rates are expected to climb 4-5 more times this year. She will need to make a weekend of looking at houses. Also she needs to be prepared to offer more than asking price. The market is still insane. She just did. She looked at it awhile back but it sold, then the buyers backed out, leaving earnest money on the table, now the price dropped 10k. What a circus.
Life ain't supposed to be easy.
|
|
|
Re: Best way to buy a house now?
[Re: Boco]
#7582369
05/11/22 10:33 PM
05/11/22 10:33 PM
|
Joined: Mar 2014
Posts: 3,655 Central Texas
Chancey
trapper
|
trapper
Joined: Mar 2014
Posts: 3,655
Central Texas
|
Best house to buy today is one on wheels. Agreed. SIL and daughter living in trailer house right now. Property is paid for. He asked me other day what I thought about them building house right now. I told him no way in (This word is unacceptable on Trapperman), wait until late fall and see what the heck gonna happen. Cost to build a house and interest does not make sense IMO.
Resident Conspiracy Theorist Accused Moron, Nazi, Low IQ, and Putin Fan Boy
|
|
|
Re: Best way to buy a house now?
[Re: Gary Benson]
#7582398
05/11/22 11:02 PM
05/11/22 11:02 PM
|
Joined: Dec 2006
Posts: 3,511 Moved to Fbks, Ak.
martentrapper
trapper
|
trapper
Joined: Dec 2006
Posts: 3,511
Moved to Fbks, Ak.
|
She just did. She looked at it awhile back but it sold, then the buyers backed out, leaving earnest money on the table, now the price dropped 10k. What a circus.
If the buyer was so anxious to get out they left earnest money behind, and now the price is lower..........and in this market it hasn't sold..........there's something wrong with the property!
|
|
|
Re: Best way to buy a house now?
[Re: Gary Benson]
#7582403
05/11/22 11:04 PM
05/11/22 11:04 PM
|
Joined: Dec 2006
Posts: 21,708 Sandhills Nebraska
Gary Benson
OP
trapper
|
OP
trapper
Joined: Dec 2006
Posts: 21,708
Sandhills Nebraska
|
Well it was inspected and passed, and it'll be inspected again So...maybe something will show up.
Life ain't supposed to be easy.
|
|
|
Re: Best way to buy a house now?
[Re: Gary Benson]
#7582433
05/11/22 11:43 PM
05/11/22 11:43 PM
|
Joined: Feb 2014
Posts: 25,694 nm
adam m
trapper
|
trapper
Joined: Feb 2014
Posts: 25,694
nm
|
Well it was inspected and passed, and it'll be inspected again So...maybe something will show up. 1 scenario might be the buyer offered more than the bank would write. Other scenario is even though "it passed" inspections there might have been enough minor issues to back out possibly the owner didn't want to fix anything listed on the report.
|
|
|
|
|