hold my guns until 2020 nov-dec?
cant wrap my head around zillow/redin forecasts. did they forecast the same for 2019? i was not in the market to pay attention to that in 2018 given my circumstances, living in parents basement no paying any rent, property taxes should i pull the trigger? i know best time to buy if i want to live 7+ years in that house was yesterday, i cant digest that i ll lose 70k / save 70k if i wait around 1 more year. targeting sjc with 1mil bugdet for single family house no hoa shit married, no kids for next 4 years copied from zillow: Neighborhood home value Evergreen home values have fallen 9.7 % over the past 12 months. One-year prediction Zillow predicts the home values in Evergreen will decrease 8.8% in the next year. if i buy early, i ll pay extra 70kish and 1 year of prop tax, not sure what to do. cant trust realtors, its their bread and butter to say rosy things. household single income tc - 295 thanks to aapl stock 400k cash, 60% in marcus at 2.35%, rest in robinhood
Gotta have patience. What goes up eventually goes down. Everyone is refinancing right now. When the market stalls/crashes you’ll have many choices to choose from.
I'm in the same situation/target price range myself (minus the free stay in parents basement, but rent is low), but if everyone's anticipating the drop, will it really drop 🤔
Redfin estimates and predictions are some of the worst I have seen. Nobody knows what the price will be in one year. If those predictions are credible, then its already priced in. Warren might win the nomination and stock may go down 20 percent and you will see the home prices drop. There are many events like this which can move the needle in either directions. If you are buying for primary living, then go ahead as long as you love the place. You won’t regret.
Definitely wait
Wait. What is the hurry? Buy when prices start going up and bidding wars begin to be certain things have bottomed out.
No one can predict housing prices a year from now, they are almost certainly extrapolating from the previous year.
Zillow’s models won’t update until well past the inflection point. If you’re waiting to see Zillow say it’s a good time to buy, you’ve already missed the boat. Honestly, stop trying to time the market, it’ll all be fine in the end. Buy something you’re comfortable with, and hold until it makes sense to sell. Also, in a down market you have a lot more leverage as a buyer. Your options and your demands can be far better now than if things start going up again. When it gets hot in the Bay Area, don’t be surprised that you have to waive your contingencies during escrow. I don’t know about you, but I’m really not comfortable with that.
Buy, long term it will only go up. Don’t look at it as one/two year.
I know, but what if i can get the same thing at 8-10% discount next year?
You cant live on what-ifs...bite the bullet and buy :)