Market isn’t going to drop.

Aug 8, 2020
9:21:50pm

Future_Tacos All-American

Buy something that isn’t ideal to get into the game. Live there a couple of years then use the equity to better your situation. In my opinion, you won’t be able to save fast enough to offset how fast prices are rising.

This message has been modified

Originally posted on Aug 8, 2020 at 9:21:50pm

Message modified by Future_Tacos on Aug 8, 2020 at 9:23:46pm

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Future_Tacos

Previous username: Bonemachine
Bio page: Future_Tacos
Joined: Feb 7, 2005
Last login: May 17, 2024
Total posts: 11,265 (24 FO)

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Messages

Author

Time

I need Real estate advice in Utah!!

Cosmo4life

8/8/20 9:14pm

Either buy a home in Tremonton or buy a townhome in Weber county.

RdF3

8/8/20 9:17pm

Market isn’t going to drop.

Future_Tacos

8/8/20 9:21pm

This. My wife talked me into buying first home 2 years ago and I thank her daily

All-around BYU

8/8/20 9:29pm

Same. I wish we'd bought in 2016 when we originally had been looking. But

CougarTailDevourer

8/8/20 9:34pm

No offense, but this advice is nonsense.

BlackHawkCoug

8/8/20 9:44pm

agreed. I don't know why people think history won't repeat itself.

Mayor of Cougartown

8/8/20 9:56pm

Because it's being driven by different forces this time. See the explanations

CougarTailDevourer

8/8/20 10:14pm

Difference is:

Future_Tacos

8/8/20 10:11pm

Why would it? Utah is having a population explosion. Much of which is natural

CougarTailDevourer

8/8/20 10:13pm

Does that really matter if they're in the home long term? Interest rates are

ManicBlue

8/8/20 10:14pm

Can you explain what you mean by the refinance point?

eysikal

8/8/20 10:16pm

Are you going to short the market then with your own money?

valleus

8/8/20 11:02pm

Lose a lot? Just don't sell until the prices rebound.

Zman

8/8/20 11:41pm

The big banks would tend to agree with you. They have all set aside Billions of

Nat Gas Man

8/8/20 11:49pm

We did this. Turned a $170k house into a $275k house in 4 years.

HomeTownHero

8/8/20 10:25pm

I think these kind of opportunities in Utah are gone for now, but congrats

BigT801

8/9/20 12:35am

Money savvy landlords are selling right now in anticipation of cashing out at

byusage

8/9/20 6:59am

I think your wife will need to either change her expectations or accept reality. A fixer upper isn’t for everyone. But

YIsForBrigham

8/8/20 9:26pm

Whatever you do, interest rates will likely never be lower in your lifetime

PortlandBlue

8/8/20 9:33pm

<< Deleted >>

rivercitycoug

8/8/20 9:28pm

2007 we were in a similar situation. Paying a half million for a crappy house

grosven

8/8/20 9:32pm

I don't see the Utah market going down soon.

Bill_The_Cat

8/8/20 9:47pm

Who knows right? If it’s affordable, and you like it, go for it. FOMO bad reason

grosven

8/8/20 10:03pm

But then the rates will be higher. So the payment would be the same. Might as well by now at the lowest rates ever.

cougsrule

8/8/20 9:52pm

DINK it up as long as possible

TCuz

8/8/20 9:35pm

I would try and wait 4-7 years if I were you. Save more for down payment.

cougfanz

8/8/20 9:40pm

I doubt they'd save more than the market increases.

Lip Gallagher

8/8/20 9:58pm

Time to adjust expectations

RockyBalboa

8/8/20 9:51pm

It sounds like that should be an easy find up there.

Lip Gallagher

8/8/20 9:52pm

Buy. You will be happy you did. Payments are so Low due to rates. It’s never been more affordable based on rates.

cougsrule

8/8/20 9:54pm

Town home? I got a 2000 3 bedroom 4 bath for $239k

v1k0u6

8/8/20 9:55pm

If your wife is going to quit to be a SAHM, then until that time, save every penny she earns toward a down payment

KingDave

8/8/20 9:56pm

Yes! Practice now living as if you only have one paycheck and just save all your

StutterOfTheCougar

8/8/20 10:04pm

Do a zillow search for foreclosed homes. More people may be having financial

StutterOfTheCougar

8/8/20 10:03pm

RE: Do a zillow search for foreclosed homes. More people may be having financial

Lip Gallagher

8/8/20 10:28pm

Pay over 400k. You can afford it.

Heath Squashwell

8/8/20 10:22pm

Can you delay a family for a year or two? I’d live extremely frugally, save 100%

valleus

8/8/20 11:06pm

Since you're young, shoot for a starter home, not a forever home

machete

8/8/20 11:17pm

I've got a coworker who I'm pretty sure lied on his credit application & built a

delux_247

8/8/20 11:24pm

We moved to St George (a bit cheaper housing) and luckily found a great place for under 400K. This was a year ago.

ocmyhome

8/8/20 11:33pm

Box Elder County

Pickett

8/8/20 11:57pm

Man, you can get a lot of house for not very much money there.

KingDave

8/9/20 12:06am

Is this for real?

BigT801

8/9/20 12:33am

<< Deleted >>

abyunobody

8/9/20 1:16am

<< Deleted >>

abyunobody

8/9/20 1:21am

<< Deleted >>

abyunobody

8/9/20 1:30am

Unless you’ve recently paid off a lot of debt it seems like any decision needs to start by examining your budget.

NihonCougar

8/9/20 1:25am

I thought you had a daughter at BYU?

CrackerJack

8/9/20 1:37am

So this poster is basically a fraud. His other post is a lie as well.

kotacoug

8/9/20 8:21am

He also posted this too.

Delicate Genius

8/9/20 8:29am

That’s what I was referring to. Posters like this should be exiled.

kotacoug

8/9/20 8:37am

In that thread he said his daughter just got the email from BYU re: her tuition

BYU'01

8/9/20 4:20pm

2nd wife and family?

Yllage Vidiot

8/9/20 6:57pm

Could he have let his son or daughter use the account to post the question? As

CougarTailDevourer

8/9/20 9:58am

Misinformation alert!

Yllage Vidiot

8/9/20 2:57pm

Haha my dad and I use the same account, we created it a few years back. Yes my

Cosmo4life

8/9/20 8:02pm

Maybe get different accounts. Pretty easy to set up. You’re going to be in here

kotacoug

8/9/20 10:29pm

Rethink what you believe is a starter home

CasualFan

8/9/20 5:38am

Wait it out, man!

BringYourUltimate

8/9/20 7:00am

You are the worst.

abyunobody

8/9/20 9:05am

So was this a giant troll job?

Lip Gallagher

8/9/20 9:59am

Real estate market is not a lot different than stock market....

Notparticularly

8/9/20 10:40am

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