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Carie
03-22-2006, 03:58 AM
John and I have decided to become adults and purchase a home. It'll be our first, and we're not rich so something lower-mid level starter home. We were thinking along the lines of Ryland and Medallion.

Do you know anything about the home builder's in the area? Can you recommend anyone? Recommendations and those to avoid welcome. We're looking to build north.

Also, at some point in the not too distant future we'll probably pop out a couple of kids too, so what do you know about the school districts.

Thanks for all of your help!

Vashner
03-22-2006, 04:06 AM
Your gonna need a good realtor.

IMO stay away from Northside school dist. They suck (that's my opinion).

Carie
03-22-2006, 04:36 AM
Thanks for responding so quickly!

Excuse my ignorance, but you use a realtor to buy a new house? I thought they looked at existing houses and took you around to see them.

Kori Ellis
03-22-2006, 04:40 AM
Carie - there are a couple people in the forum who are the midst of having a house built (or just had one built). So I'm sure that they will respond to you in the morning.

Good luck.

Carie
03-22-2006, 04:41 AM
Thanks!

ObiwanGinobili
03-22-2006, 08:49 AM
Don't buy a KB home.
That is all.

CrazyOne
03-22-2006, 09:07 AM
I would echo that... KB gives you lots of space for the money, but their quality is sub-par. The Ryland homes are a bit pricey for the size, but they are very energy efficient and well-built. The Wilson homes we looked at are pretty good. We ended up buying a Pulte. The Pulte homes are good quality - they don't rush the building process. But the main factors for our purchase were the house design and the neighborhood. (And the fact that Ruth's cousin bought a home two doors down from us.)

ObiwanGinobili
03-22-2006, 09:25 AM
Also- a friend of mine has an Armadillo home and they were very flexible on the supplies & price and sweat equity. My friedns were able to do alot o fthings i nthier home htemselves to cut down on labor costs and when they found supplies for cheaper then Armadillo was charging them - they were able to use those instead. (cabinets, door headers etc.)

Mijo
03-22-2006, 10:19 AM
Pulte or D.R. Horton are probably tops in my book. I own a KB home because it was affordable for me at the time. Although not every KB home is trash. KB gets a bad rap mostly because of where they choose to build their homes, and not necessarily how they are built. A home with problems is usually due to poor or inadequate engineering and a poor foundation. Building homes where there are high plasticity soils has foiled every builder. Stick to the north side and you should avoid these bad soils.

DisgruntledLionFan#54,927
03-22-2006, 11:36 AM
I would echo that... KB gives you lots of space for the money, but their quality is sub-par. The Ryland homes are a bit pricey for the size, but they are very energy efficient and well-built. The Wilson homes we looked at are pretty good. We ended up buying a Pulte. The Pulte homes are good quality - they don't rush the building process. But the main factors for our purchase were the house design and the neighborhood. (And the fact that Ruth's cousin bought a home two doors down from us.)


Pulte doesn't rush the building process? In one subdivision here in metro Detroit, they started and closed 100 homes in 9 months...

Mijo
03-22-2006, 11:44 AM
Pulte doesn't rush the building process? In one subdivision here in metro Detroit, they started and closed 100 homes in 9 months... I can believe that. I'm under enormous presssure to get paperwork out on a large Pulte subdivision here so that they can get started on construction.

j-6
03-22-2006, 11:45 AM
I live in a KB house and we love it - no complaints after a year and change (except for the Star Wars conventions in the community park; that still weirds me out).

Everyone is going to have a different opinion of every builder - I'd worry more about the price and if the super is worth a damn rather than what the company's rep is. Just my two cents.

CrazyOne
03-22-2006, 11:51 AM
As for saying that Pulte doesn't rush... that's just the experience I've had so far. We inked a deal at the end of October and they're just pouring the foundation this week. The house is supposed to be done toward the end of June. In the time that it's taken them to get ready to pour our foundation, KB has finished 40 or 50 homes in our current neighborhood.

DisgruntledLionFan#54,927
03-22-2006, 11:57 AM
I live in a KB house and we love it - no complaints after a year and change (except for the Star Wars conventions in the community park; that still weirds me out).

Everyone is going to have a different opinion of every builder - I'd worry more about the price and if the super is worth a damn rather than what the company's rep is. Just my two cents.


That makes no sense. So if the super is likable and a good guy(gets shit done) but the company he works for is known for low quality materials(lumber, windows, etc) and workmanship you'd still buy the house?

Do your homework on the builder before buying. Don't just rely on a home inspector, snake oil salesman IMO, or the RE agent to be the be all end all. And remember, "you get what you pay for" applies to homes as well...

j-6
03-22-2006, 12:21 PM
That makes no sense. So if the super is likable and a good guy(gets shit done) but the company he works for is known for low quality materials(lumber, windows, etc) and workmanship you'd still buy the house?

Do your homework on the builder before buying. Don't just rely on a home inspector, snake oil salesman IMO, or the RE agent to be the be all end all. And remember, "you get what you pay for" applies to homes as well...


Did I mention anywhere that I didn't research the materials and the cost of the build? It's just easier when you have a super you can call and ask questions rather than deal with a salesman, especially if you've never bought a home before (like me). For my 120K, KB offered the best available house in the area I wanted to build, from top to bottom, over History Maker, Choice, and Weekley. I bought it and I'm happy with it.

Chill and go rub one out into your new Josh McCown jersey before jumping in my shit next time.

CharlieMac
03-22-2006, 12:27 PM
If you don't have a realtor yet, send me a PM and I'll give you the number to the guy I used. He was great.

A counselor I used to work with at my old job had a KB home. There were problems with the wiring and it half of the house caught fire. Just a heads up on that. But you know, something like that can happen with just about any builder, so it's all really up to you.

MoSpur
03-22-2006, 12:43 PM
Depends on about how much you want to spend. From experience its better to find a lot and buy it. Be your own builder/contractor. My dad has done it that way three times and I am doing that as we speak. Its a lot better. It may take a little longer, but you are getting everything you want. You don't have to chose from this floor plan or that floor plan. Plus its a lot cheaper.

For instance, lets say you want a house that is 2500 sq. ft. Yo might pay like $150-$200 thousand for something like that here in SA in a good location. However, the builder probably paid something like $70-$90 thousand to build it. No joke. My parents new home got appraised at $240K. They spent around $115K to build it. They have marble tubs, granite counter tops, custom interior painting, and a lot of extras.

This is just my opinion though. It may be a little longer, but its worth it.

MoSpur
03-22-2006, 12:44 PM
Oh yeah. If you do decide to build on your own, let me know and I can hook you up with the names of the people we used to do this, that, and the other.

Mijo
03-22-2006, 12:47 PM
We inked a deal at the end of October and they're just pouring the foundation this week. The house is supposed to be done toward the end of June. In the time that it's taken them to get ready to pour our foundation, KB has finished 40 or 50 homes in our current neighborhood. Crazy, that sounds more like procrastination than not rushing the building process to me. The timeline for construction sounds about right though. Encino Ridge?

easjer
03-22-2006, 12:57 PM
That's really fascinating, MoSpur, I've probably got questions for you in the future.

As for Carie -

We're thinking about homes a lot too. I guess one question for us is the value of building your own home if you are only using it as a 'starter'. How long are you planning to live in it? Are you looking at it as an investment? What is the attraction for building vs. buying? If you are not planning on living there for more than five years, then school districts are irrelevant.

We are in a slightly different situation, in that if we buy here in Houston, it's not long term - we will move home to SA area eventually. So that affects our decision. But we are looking at townhomes and condos, and I would urge you to consider that as well. Especially in Houston, you can live in the inner loop with nice square footage, for under $200K. It's impossible in a house. So we know with a TH or Condo that we will be able to sell when we want (which is not always true of actual homes, as trends change, areas expand, and schools go up and down in ratings). In a townhome/condo, we have less responsibility for maintenance (as many of these are ruled by HOAs) etc and more than enough room for an expanding family with the added benefit of convenience inside the loop and resaleability.

For me, I dream of building my own home, but I wouldn't do it until we were established and would not be moving. But that's just me - I am not a big fan of change at all.

Anyway, just alternatives for you to consider. Congrats on such a big step! Owning a home, whatever the format, is such a great thing to do! We are just now beginning to pay off our debt, and will start saving for a downpayment this summer, so unless we win the lottery (of which I live in perpetual hope), it'll be several months more.

Ed Helicopter Jones
03-22-2006, 01:02 PM
Before the home comes do yourself a favor and secure your own financing through your own bank. Never let someone lead you to a source of lending.

Carie, if you run into any problems getting your loan under the terms you want let me know and I can lead you to some good financing sources.

DisgruntledLionFan#54,927
03-22-2006, 01:02 PM
Did I mention anywhere that I didn't research the materials and the cost of the build? It's just easier when you have a super you can call and ask questions rather than deal with a salesman, especially if you've never bought a home before (like me). For my 120K, KB offered the best available house in the area I wanted to build, from top to bottom, over History Maker, Choice, and Weekley. I bought it and I'm happy with it.

Chill and go rub one out into your new Josh McCown jersey before jumping in my shit next time.

I wasn't trying to jump in your shit and I agree with everything you said the second time around. Ask as many questions as possible, especially if you have no clue of what's going on. It's your biggest purchase ever so you should feel as comfortable as possible during the process...

It just sounded different in your earlier post. BTW, I rub one out wearing my Bobby Layne jersey...

MoSpur
03-22-2006, 01:22 PM
If you are only planning to stay in this starter home for a few years, then building your own is probably not for you. I'd buy something cheap. I mean buy a good house, but try to find one at a low price. Research a lot of homes in the same area where you are looking to see what the better ones are going for. When you decide which one you want, buy it.


For example, lets say you are shopping in an area where there are homes in 7-10 year old range. Lets say there are several homes in this area going for $75-$100. $75K being low to average looking homes. $100K being the better looking homes. I would try to buy one in that area for about $70K. Why? You can easily fix it up with $10-$15K (probably less $$) and then turn around and sell for $100K or more. Think of it as an investment not just a starter home. The fact that its a starter home makes me think you won't be there longer than five years, which means you'll have a lot of time to do the improvements you'll need to. Don't buy one that has structural damge or mold. That will cost you a lot of money.

Its just a bit of info.

j-6
03-22-2006, 01:29 PM
BTW, I rub one out wearing my Bobby Layne jersey...
^5 (with the unoccupied hand, of course)
:lol

2Blonde
03-22-2006, 02:13 PM
NEISD has very good schools. We live in a Perry Home and have been very pleased with it. I don't know what price range you are looking at but my suggestion would be to check out all the builder's websites and see where they have subdivisions under construction in the areas where you are interested in. Then visit those sites and check out the available lots and floor plans and see what you think about their model homes and then do a lot of research about customer satisfaction.

easjer
03-22-2006, 02:31 PM
2Blonde- I adore Perry homes. There are several townhomes in Houston they've built that I've been drooling over. If we won the lottery tonight we'd be on the phone with Perry tomorrow about building my dream house in Oak Run in New Braunfels. *happy sigh thinking about dream home*

DisgruntledLionFan#54,927
03-22-2006, 02:40 PM
Man, you guys get a lot of house for your money down there. Depending on which area, comparable homes are $50-100,000 more up here...

easjer
03-22-2006, 02:47 PM
That may be, but prices are going up all around Texas, but especially around the big cities - Dallas, Austin, Houston, SA and their respective burbs.

For instance, my father built his house in 1990. It was house + corner lot (big lots), custom build right next to Gruene (literally - the subdivision that surround Gruene, not all the 'Gruene Courtyard' extensions and shit) for $89,000. It now appraises for something like $150,000+ and the bigger ones in the neighborhood are selling for $180,000 - $200,000+.

In Houston you can not get a home inside the loop for less than $225K. In my area, near the beltway, houses that need work are approaching $200K. We're looking at 1200-1500 sq ft condos inside the loop that are between $140K and over $200K (well, we're not really looking at the $200K ones).

As the population continues to increase the property values are rising, particularly inside the cities because of rising commuter costs.

Jekka
03-22-2006, 04:02 PM
In Houston you can not get a home inside the loop for less than $225K. In my area, near the beltway, houses that need work are approaching $200K. We're looking at 1200-1500 sq ft condos inside the loop that are between $140K and over $200K (well, we're not really looking at the $200K ones).

As the population continues to increase the property values are rising, particularly inside the cities because of rising commuter costs.

My parents bought their housein Houston for $60k in the early 80s, and they could easily sell it for over $300k now just based on location. It's crazy how much property values there have increased just in the last 10-15 years.

easjer
03-22-2006, 04:40 PM
My boss is kicking herself, because when she and her husband got married and bought their home, they opted to buy a duplex (two bedrooms each, and up and down, so no knocking out walls) instead of a three bedroom with a den (what she's looking for now), because she thought that the $150K for a 3bedw/den inside the loop was too high. :lol

Now, they rent out the other part of the duplex, but are cramped with their two kids. And because her husband stays home to watch them, they can't afford a house inside the loop, even with renting out both duplexes or selling.

tlongII
03-22-2006, 04:43 PM
Damn. I wish our home prices were like yours.

Nbadan
03-22-2006, 05:47 PM
Homes are generally over-valued around the nation but this has recently become a new phenomena in San Antonio thanks largely to rising interest rates and a over-exorbant rise in home values in the last 10 years. Houses are taking longer to sell and many people who took advantage of ARM's are losing their homes because they can't meet the higher loan payments. Also, rising fuel costs and minimum payments of credit cards are squeezing consumers. For these reasons alone I say wait a couple of years. Stick the money in your bank account and find a nice, cheap home to rent. When prices decrease, as they surely will, then you buy, that is unless your planning on staying in the home for 10+ years and you have time to wait for home prices to grow through their usual cycle.

Vashner
03-22-2006, 05:52 PM
Buy a used house and save some money...

I could never live on anything smaller than 1 acre, which is what I have now. If it was a box house with tiny yard I would go cheap and just load up with electronics inside and more money allocated to fancy vacations and vehicles.

SequSpur
03-22-2006, 06:41 PM
We are building a home right now. I think you have to look at what your budget is and then narrow your choices then.

There are builders that build homes for < 100K
There are builders that build homes for 100K-140K
There are builders that build homes for 140K-200K
Above 200K, I wouldn't be purchasing a KB, Choice Home, etc. etc...

We chose Ryland. Why? Dunno.... Mostly because that day we got a deal and other builders weren't in the deal making mode....

It was probably between Lennar, Ryland, Kimbill Homes and maybe Pulte...

For the price range we were looking at the Pulte neighborhoods didn't fit our tastes.

Hope that helps.

SpursWoman
03-22-2006, 06:48 PM
Many years ago I worked for a lighting company that sold lighting packages & ceiling fans to new home builders. Perry builds quality homes a little on the upscale side...we sold them many 6 ft entry lights. I went along on many walk-throughs and they were just amazing homes. :tu

Pulte goes from low-end to high...pretty good choices as far as lighting, anyway. Centex at the time used seriously cheap-y lighting. Aspen was like the worst, cheapest mofos on the planet...do they still even build here? :lol

This was about 10 years ago...I'm not sure what all has changed. I know the Pulte home office is a block away from where I work. :)

Das Texan
03-22-2006, 06:50 PM
KB does build some shitty homes, but they will also build some pretty decent ones also. If you can stay away from the cookie cutter divisions that KB builds then you would be fine with them.

Carie
03-22-2006, 07:46 PM
Wow, thanks for all of the responses...I should have gotten out of bed sooner :D Lots of things to think about.

We're thinking in the 140-180 range. And we're thinking new because I'm anal about things and want to be able to decide on the flooring, cabinets, countertops, etc. I know it seems silly to most, but it just makes me happy when I'm around surfaces I like.

We've pretty much not looked at Pulte because of something they did on Dateline or 60 minutes about 4 years back. For those of you that live in a Pulte home, what do you think?

And it has to be a house because John wants a yard. I dunno why, but it's important to him so we'll get one. As long as I like the floor plan and it has cherry wood cabinets I'm happy :)

Y'all have mentioned some builders I've never heard of. Is there a site about builders in the area?

Any other advice welcome, we're new to this and have no idea what we're doing!

Nbadan
03-23-2006, 01:10 AM
Wow, thanks for all of the responses...I should have gotten out of bed sooner :D Lots of things to think about.

We're thinking in the 140-180 range. And we're thinking new because I'm anal about things and want to be able to decide on the flooring, cabinets, countertops, etc. I know it seems silly to most, but it just makes me happy when I'm around surfaces I like.

You should really, really wait. I can't stress that enough. The housing bubble is just starting to deflate in San Antonio, in a couple of years speculative home investors that wanted to make a quick retirement buck, are gonna be selling at huge discounts to avoid facing higher ARM payments. With that said, I've worked with quite a few home builders in San Antonio. In the 140+ range, you should avoid discount builders Pulte, KB, Armadillo, and go with a quality builder like D.R. Horton, Rylan, or Hartmann.

SequSpur
03-23-2006, 01:55 AM
[QUOTE=Nbadan]You should really, really wait. I can't stress that enough. The housing bubble is just starting to deflate in San Antonio, in a couple of years speculative home investors that wanted to make a quick retirement buck, are gonna be selling at huge discounts to avoid facing higher ARM payments. QUOTE]

You're wrong. It depends on the side of the town, the neighborhood, etc. etc..

RealEstateDude
03-23-2006, 03:36 AM
All the builders have problems at one time or another, especially the way homes shift in this city. Just make sure they offer you a solid warranty on the structure. PM me if you want representation, we get paid by the sellers...

Mijo
03-23-2006, 07:38 AM
In the 140+ range, you should avoid discount builders Pulte, KB, Armadillo, and go with a quality builder like D.R. Horton, Rylan, or Hartmann. Pulte's product is superior to D.R. Horton's with the exception of the Heritage unit on the southside. Gordon Hartman sold his business to a California developers more than a year ago.

SpursWoman
03-23-2006, 08:54 AM
And ARM loans are just one option out of many....and if you have decent credit you will have MANY options. If interest rates go down or things change a few years down the road, you can always refinance.

Buying is always a better option than renting if you can afford it ... I have no idea why you would think otherwise, unless you like just throwing money into someone else's pocket with nothing at all to show for it. :wtf

easjer
03-23-2006, 10:06 AM
Carie -

Remember that surfaces can be replaced. I totally, utterly, and completely understand why you would want to build (I am exactly the same way), but again, if you aren't planning on staying there . . . you'll just have to go through it again anyway. From what I've seen researching Houston houses, you could almost certainly buy an older home for less than building a new one and replace those surfaces you want to and still come out cheaper if you do it yourself or bid out to trusted contractors. For instance - paint does wonders, and tiling is generally easy enough to do yourself (especially refering to kitchen surfaces; floors are more difficult). You can find good deals on slabs of marble, tile, granite, slate if you look around. You can find good deals on cabinetry if you look around.

Seriously, find a neighborhood you like and price the homes (using a realtor for this is a great idea). Talk with MoSpur about who he and his folks have used for their self-builds and price out what you would want done. See if that is adding up to less than a brand new build. If so, you've got a nest egg socked away for your upgrade home or for emergencies. If not, then you've got your answer.

If you have the time/patience, you can upgrade an older home to what you want for less money than building a new one. One downside to an older home may be less energy efficiency. One downside to a new home may be some questionable construction and less certainty about future home value (if you plan to resell). It's totally amazing what just replacing a few things can do - it's how house flippers make their money. My friend in Arizona recently bought a new home with the idea that if they bought the place they did, they'd have $30K extra for renovations because of the price. So they were able to have the location they wanted and now have the dream kitchen and hardwood floors in the floorplan they wanted for much less than building.

MoSpur
03-23-2006, 10:22 AM
If you are willing to pay around $140K you are probably buying a house that was built for around $85-$100K. Seriously, you and your husband can be your own builders with around $90K and have a home worth $150K +. No joke. Especially if your husband wants a big yard. I would drive around the surrounding areas of SA and look for an acre or two that is reasonable and build on your own.

You're basically just cutting off the middle man out of everything and saving all that money. People think its hard, but it really isn't.

RealEstateDude
03-24-2006, 04:01 AM
I see a lot of love for Pulte but I guess you guys missed that episode on 60 minutes a few years ago...

Nbadan
03-24-2006, 04:37 AM
And ARM loans are just one option out of many....and if you have decent credit you will have MANY options. If interest rates go down or things change a few years down the road, you can always refinance.

Buying is always a better option than renting if you can afford it ... I have no idea why you would think otherwise, unless you like just throwing money into someone else's pocket with nothing at all to show for it. :wtf

With the government competing for available credit, just exactly when and how do you expect interest rates to go down? The lastest speculation is that interest rates will keep going up, even the most optimistic speculation is that interest rates will remain even, almost nobody has interest rates going down, unless your looking 30 years down the road.

Renting makes sense when there is money to be made down the road off of speculative home-buyers who thought, like you, that interest rates would stay low forever and/or they could always refinance their debt later at a lower rate. As interest rates go up, in order to sell quicker, motivated sellers will drop their home prices. We could be looking at good size discounts. It's worth the wait.

TDMVPDPOY
03-24-2006, 05:01 AM
Hey the houses you guys are talkin about in the range of 130-180k, are they houses like 1hr-1.30hr drive from the metro cbd area?

CrazyOne
03-24-2006, 09:35 AM
Somebody want to enlighten me on the 60 minutes show about Pulte? (Not that we're gonna change now, I'm just curious). Our foundation should be solid... they had to carve the garage space out of solid rock.

Mijo - we're buying in the Grandview subdivision.

SpursWoman
03-24-2006, 09:43 AM
With the government competing for available credit, just exactly when and how do you expect interest rates to go down? The lastest speculation is that interest rates will keep going up, even the most optimistic speculation is that interest rates will remain even, almost nobody has interest rates going down, unless your looking 30 years down the road.

Renting makes sense when there is money to be made down the road off of speculative home-buyers who thought, like you, that interest rates would stay low forever and/or they could always refinance their debt later at a lower rate. As interest rates go up, in order to sell quicker, motivated sellers will drop their home prices. We could be looking at good size discounts. It's worth the wait.


So put your life on hold indefinitely while paying someone else's mortgage for something you will never own and speculate the hell out the market while watching interest rates climb. A 2 or even 3 point hike in interest rates will totally wipe out (and then some) over the life of the mortgage a couple of grand an anxious seller will knock off their selling price.

If I were worried about rising interest rates, the only thing that would make me want to wait it out is if I were paying cash for a house.

Carie
03-24-2006, 10:18 AM
Hey the houses you guys are talkin about in the range of 130-180k, are they houses like 1hr-1.30hr drive from the metro cbd area?No, more like 20-25 minutes, where we're looking at least.

As far as Pulte goes, I just remember them talking about a lot of customer complaints. And one in particular they went to their house, you could close the back door and feel the house shake in the front of it. Or something similar. It wasn't very sturdy, to say the least.

2centsworth
03-24-2006, 10:37 AM
My wife and I purchased a Ryland and we're very happy with it. Ryland and home builders like them Pay real estate agents 3% of the sales price for new customers. This 3% doesn't affect what you pay whatsoever! The beauty is if you can find a Real Estate Agent who will give you 1% rebate, so on a $180k purchase you get $1800 cash back.

If you need a Real Estate agent who will do that I know a couple who will.

Mijo
03-24-2006, 11:18 AM
Somebody want to enlighten me on the 60 minutes show about Pulte? (Not that we're gonna change now, I'm just curious). Our foundation should be solid... they had to carve the garage space out of solid rock. Grandview is nice. We did the geotechnical study and made the reccomendations for the slab design.

CrazyOne
03-24-2006, 01:36 PM
Interesting, Mijo. You'll have to tell me more about what that means sometime.

Mijo
03-24-2006, 02:02 PM
It basically means that I study "dirt". Different types of soils require warrant different slab designs. Building in clay soils requires deeper beams and building in rock usually requires just the opposite. In a nutshell.

Nbadan
03-24-2006, 02:21 PM
So put your life on hold indefinitely while paying someone else's mortgage for something you will never own and speculate the hell out the market while watching interest rates climb. A 2 or even 3 point hike in interest rates will totally wipe out (and then some) over the life of the mortgage a couple of grand an anxious seller will knock off their selling price.

If I were worried about rising interest rates, the only thing that would make me want to wait it out is if I were paying cash for a house.

I never said anything about speculating the market. In fact, if we attack Iran after March 28th, as expected, the market could take a good sized plunge. Better to just keep your money in safe investments and live off of the cheap rent that will be available in SA for newer homes for the next few years. Better yet, buy commodities, Gold and Palladium.

I think prices will drop more than 'a couple of grand'. Try between 10-20%, maybe closer to the lower end in SA where demand is still decent from recent immigrants from Mexico and the opening of Toyota and such, but there will still be a drop. On a $185K home, you could save about $15k, maybe more, it depends on how desperate sellers get. Cash will rule, and the drop in home prices and a good sized down-payment will more than off-set any increase in interest rates (at least from a new buyer fixed morgage point-of-view).

Nbadan
03-24-2006, 02:29 PM
POP goes the housing-bubble, just as I predicted...


Sales of new U.S. homes plunged 10.5 percent in February, the biggest drop in nearly nine years, while prices fell and the number of homes on the market hit a record high, the government said on Friday in a report signaling significant slowing in the housing market.

<snip>

Economists, however, widely expect the housing market to weaken throughout 2006

Reuters (http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-03-24T150111Z_01_N23390736_RTRIDST_0_ECONOMY-HOUSING-URGENT.XML)

SpursWoman
03-24-2006, 02:36 PM
Speculating is about all you are doing when you're talking about anything in the future ... from interest rates to new house builds or not builds to what percentage of the population took out ARM loans and will choke on them. Nothing is a certainty until it actually happens. And as long as you're paying someone else for a home that you are not building any equity in, regardless of how cheap the rent may or not be ... you're really not doing yourself any favors, IMHO.


Sales of new U.S. homes plunged 10.5 percent in February,


Maybe more people are just buying Previously Lived In Homes. :spin

Kori Ellis
03-24-2006, 08:59 PM
My wife and I purchased a Ryland and we're very happy with it. Ryland and home builders like them Pay real estate agents 3% of the sales price for new customers. This 3% doesn't affect what you pay whatsoever! The beauty is if you can find a Real Estate Agent who will give you 1% rebate, so on a $180k purchase you get $1800 cash back.

If you need a Real Estate agent who will do that I know a couple who will.

Your house is beautiful.

Vashner
03-24-2006, 10:54 PM
All the stats and panic is just the libs hoping the market goes bad. Which is kinda stupid and sick if you think about it (sitting around praying for bad news).

Bottom line.. life is good. Interest rates are still good and the quality has never been better. If anything looming bubble issues are a reason to close on a fixed apr now.