Mortgage rates nearly 4%

[sureshkonda]

8 minutes ago, Fish said:

At the end of term with these interest rates he will be paying more interest…better to wait for a year or 2

2 years wait chesthe manchi school districts lo illu radu vaya.better buy now than regret later. oka house ki 50-100 bidders lo kone badal ippudu competition leni chota konte nee returns neeku vasthayi future lo

[Netflixmovieguz]

41 minutes ago, Vaampire said:

Depends bro. If u like the home and plan to stay there for 5-10 years, buy it.

we can never time the market.

and also with current supply chain issues, i am not sure if the home prices go down with increase in interest rate.

 

I think i miscalculated few things while selling my home. I made more than 500k on it, so have to pay tax for additionL amount. I thought i can sell it and buy another home to take advantage of 500k non taxable profit on primary home.. honestly i am not even sure how many primary homes u can claim in entire life.

Your primary house less than 2 yrs?

[Fish]

8 minutes ago, sureshkonda said:

2 years wait chesthe manchi school districts lo illu radu vaya.better buy now than regret later. oka house ki 50-100 bidders lo kone badal ippudu competition leni chota konte nee returns neeku vasthayi future lo

Can’t agree with you….realistic ga chusthe…house prices are going up and interest rates are going up but salary peragadam Ledu/penchadam Ledu…inflation high undi….people will not be able to afford homes in coming months so lot of them will back out and start renting which will be cheaper…same happened in 2006 and history is repeating…the only difference I see is apudu no WFH

[Netflixmovieguz]

Don’t sign new homes now. 6-8 monthss tharavaata >4 interest rate anntee plannedd kannte monthly extra payment ithadi. Correction is inevitable. Fall of 2022- 2023 will be a bear for housing market. Higher interest rates, more inventory to the market, return to offices is going to slow this thing down.

[Gaali_Gottam_Govinda]

Edho 5% Home prices tagginayi ani langota ettukuni velli konnaru...... Home prices won't dip like stocks........ it will gradually lose value over time for years (3-5  years time) in bearish housing market.

 

Worst time to buy home is high sky home prices in rising mortgage rates. 

[terminator_desi]

51 minutes ago, Netflixmovieguz said:

Don’t sign new homes now. 6-8 monthss tharavaata >4 interest rate anntee plannedd kannte monthly extra payment ithadi. Correction is inevitable. Fall of 2022- 2023 will be a bear for housing market. Higher interest rates, more inventory to the market, return to offices is going to slow this thing down.

Same thing people said in 2020 and home prices went up average 25% in 2021. Again Samething people said in 2021 and 2022 projections from  zillow/redfin/reltor are home prices will go up 12% by end of 2022.

[Netflixmovieguz]

3 minutes ago, terminator_desi said:

Same thing people said in 2020 and home prices went up average 25% in 2021. Again Samething people said in 2021 and 2022 projections from  zillow/redfin/reltor are home prices will go up 12% by end of 2022.

Same reasons for rise.

1. Supply chain issues

2. Covid stayed longer than expected causing wfh 

3. Fed pumped money

housing market is at the tip of the mountain now. 

[Kalam_Youtheman]

2 hours ago, terminator_desi said:

Phoenix,AZ lo 600k ki new build sign cheyabotunna. Hold or proceed? Same area lo 2 years back 400k unde home price

nuvvu endhi bro.. ikkadaa asking proceed avvalaa vodhaaa ani.. 

 

ee DB vaaalu nee mortgage pay chesthunnarraa endhi.. end of the days its you .. so make neeeku satthaa unte buy the home or go to den anthe bro...

[htnamus]

3 hours ago, Spartan said:

closing date roju enta unte ante..

lockin period gone now....demand bankers di kabatti..

buyers di undi unte, they would ve honored.

lockin periods are still on ..i know folks who locked 180 days prior in dec

[terminator_desi]

3 minutes ago, Kalam_Youtheman said:

nuvvu endhi bro.. ikkadaa asking proceed avvalaa vodhaaa ani.. 

 

ee DB vaaalu nee mortgage pay chesthunnarraa endhi.. end of the days its you .. so make neeeku satthaa unte buy the home or go to den anthe bro...

I know bro this is my own decision.But just taking opinion from our folks.Ento after 14 years GC-EAD vachindi ani confidence to first home kondam ankunte conflicting suggestions vastunayi not only in DB but also outside in friends circle.Just 2 years lo 60% perigayi home prices in Phoenix.Housing crash kanuka ayithe I will loose hard earned money.

[Kalam_Youtheman]

Just now, terminator_desi said:

I know bro this is my own decision.But just taking opinion from our folks.Ento after 14 years GC-EAD vachindi ani confidence to first home kondam ankunte conflicting suggestions vastunayi not only in DB but also outside in friends circle.Just 2 years lo 60% perigayi home prices in Phoenix.Housing crash kanuka ayithe I will loose hard earned money.

it wont happen bro.. nuvvu entha twaraga theesukunte antha better ..interest rates peruguthunnayee...
most important is SCHOOL ratings.. nee home value ni adhe maarusthundhi....

 

middle and high min 8 unte eyes close and buy the home

[Satakarni_bali]

2 hours ago, sureshkonda said:

interest rate ki house purchase ki sambandham ledu...100K downpayment petti konevallaki eppudu market untadi

historically for every  1% of interest change 10% housing correction untadi, but we are in strange times so 2 sides nundi roddeeee 

[Netflixmovieguz]

17 minutes ago, terminator_desi said:

I know bro this is my own decision.But just taking opinion from our folks.Ento after 14 years GC-EAD vachindi ani confidence to first home kondam ankunte conflicting suggestions vastunayi not only in DB but also outside in friends circle.Just 2 years lo 60% perigayi home prices in Phoenix.Housing crash kanuka ayithe I will loose hard earned money.

Sensing FOMO here

[dadano12]

It will Autocorrect for sure, very bad time to buy house especially with increased prices.

There is no increase in income> Inflation>High interest rates which will constitutes for this Auto correction.

But when it can happen in coming months or 1- 2 years for sure. There are many things which makes high prices, low inventory>Lumbar prices high >work from home but this may change in coming months > year. Buying at high prices it is difficult to sustain in longer journey. Think from Normal Middle class American citizen he may not get in to this high price market

[desiboys]

8 minutes ago, dadano12 said:

It will Autocorrect for sure, very bad time to buy house especially with increased prices.

There is no increase in income> Inflation>High interest rates which will constitutes for this Auto correction.

But when it can happen in coming months or 1- 2 years for sure. There are many things which makes high prices, low inventory>Lumbar prices high >work from home but this may change in coming months > year. Buying at high prices it is difficult to sustain in longer journey. Think from Normal Middle class American citizen he may not get in to this high price market

you are wrong man. people daggara cash chala undi ippudu. interest rates thakkuva unte bidding war nadusthadi...interest rates ekkuva unte, you will be able to buy a house at market price instead of bidding. finally buying a house is individual's choice to raise the family.  investment kosam aithey bad time.