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Beth1210
I want to do it again!
Member since 6/05 4048 total posts
Wedding Date:
12/10/2005 7:30 PM
Wed. Location:
Flowerfield
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NWR: I learned something new- thought I would share
So Jake and I were taking about houses again this weekend
He was saying how we should wait until next year- yada yada yada
I said but then wont rates go up- so wont the payment be the same- (a girl had posted it on here- so I was curious)
He said yes but you house would be worth less, if you buy a house for $500K and then the value drops to $400K- your house is worth negative $100K
and if you had to sell or refinace you would be introuble
so now I understand..I just tought I would share
**Jake owns are Mortage company**
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Posted 10/10/05 1:02 PM 
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LaurenluvsTJ
Married life is sweet!
Member since 1/05 11868 total posts
Wedding Date:
5/28/2006 12:00 PM
Wed. Location:
Westbury Manor
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Re: NWR: I learned something new- thought I would share
thanks for the words of wisdom
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Posted 10/10/05 1:07 PM
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Noiva06
Still in LaLa Land :)
Member since 4/05 2051 total posts
Wedding Date:
5/21/2006 1:00 PM
Wed. Location:
Booked!
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Re: NWR: I learned something new- thought I would share
At this point I would wait to see what the market does... but honestly prices may drop slightly but not too significantly....
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Posted 10/10/05 1:10 PM
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Beth1210
I want to do it again!
Member since 6/05 4048 total posts
Wedding Date:
12/10/2005 7:30 PM
Wed. Location:
Flowerfield
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Re: NWR: I learned something new- thought I would share
Posted by Noiva06
At this point I would wait to see what the market does... but honestly prices may drop slightly but not too significantly....
no ones what is going to happen, that's why we are not rushing into something right now
the prices of house seemed to be alittle less when I got a home magzine this month- it seemed like alot had a "just reduced" sign in the corner
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Posted 10/10/05 1:20 PM
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cindyandkevin
To have and to hold
Member since 2/05 21575 total posts
Wedding Date:
6/10/2006 5:00 PM
Wed. Location:
Stonebridge Country Club
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Re: NWR: I learned something new- thought I would share
Thanks for the info Beth!! 
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Posted 10/10/05 1:41 PM
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103005FallBride
I married the love of my life
Member since 2/05 7248 total posts
Wedding Date:
10/30/2005 11:00 AM
Wed. Location:
Westbury Manor A++
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Re: NWR: I learned something new- thought I would share
Posted by Beth1210
So Jake and I were taking about houses again this weekend
He was saying how we should wait until next year- yada yada yada
I said but then wont rates go up- so wont the payment be the same- (a girl had posted it on here- so I was curious)
He said yes but you house would be worth less, if you buy a house for $500K and then the value drops to $400K- your house is worth negative $100K
and if you had to sell or refinace you would be introuble
so now I understand..I just tought I would share
**Jake owns are Mortage company**
My FH says the same thing. I'll have to let him know that an actual Mortgage Broker said the same thing. He'll feel so smart! HA!
He always says...you can always refinance... I'm sure the market will shift a few more times during the term of a mortgage.
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Posted 10/10/05 1:48 PM
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CaMacho
EST: June 10, 2006 ♥
Member since 4/05 4435 total posts
Wedding Date:
6/10/2006 7:30 PM
Wed. Location:
Chateau La Mer - A+
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Re: NWR: I learned something new- thought I would share
I always love hearing your advice about real estate beth! Thanks!
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Posted 10/10/05 1:59 PM
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SweetCin704
It's been a year already!
Member since 7/03 14278 total posts
Wedding Date:
7/15/2006 1:00 PM
Wed. Location:
CLM (A++++)
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Re: NWR: I learned something new- thought I would share
Thanks Beth!!!!!
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Posted 10/10/05 2:03 PM
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Beth1210
I want to do it again!
Member since 6/05 4048 total posts
Wedding Date:
12/10/2005 7:30 PM
Wed. Location:
Flowerfield
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Re: NWR: I learned something new- thought I would share
My FH says the same thing. I'll have to let him know that an actual Mortgage Broker said the same thing. He'll feel so smart! HA!
He always says...you can always refinance... I'm sure the market will shift a few more times during the term of a mortgage.
he is right- it's better to get a better price on the house then a cheaper interest rate!
b/c you can always refinace later when rates drop again!
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Posted 10/10/05 2:49 PM
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M&S Sept12006
2 Years Down...
Member since 3/05 5843 total posts
Wedding Date:
9/1/2006 3:00 PM
Wed. Location:
Westbury Manor - A
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Re: NWR: I learned something new- thought I would share
Posted by Beth1210
My FH says the same thing. I'll have to let him know that an actual Mortgage Broker said the same thing. He'll feel so smart! HA!
He always says...you can always refinance... I'm sure the market will shift a few more times during the term of a mortgage.
he is right- it's better to get a better price on the house then a cheaper interest rate!
b/c you can always refinace later when rates drop again!
Absolutely! They're predicting the real estate bubble to burst sometime next year. Rent. co-op and condo prices can already be seen dropping in NYC-not significantly, but they are going down.
Beth thanks for your advice. Your FHubby knows what he is talking about obviously and thank you for sharing that with us. We want you to know that we appreciate it
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Posted 10/10/05 3:01 PM
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kellwolfe
It's An Obsession
Member since 12/04 4122 total posts
Wedding Date:
12/8/2006 7:00 PM
Wed. Location:
Hamlet WindWatchA+++++++++++++++++++
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Re: NWR: I learned something new- thought I would share
that make sence ...thanks for sharing ....now i can tell mike that so he stops tell me that we have to look NOW --- because i dont want to till this summer
thanks beth ...thanks jake
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Posted 10/10/05 3:03 PM
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gNi1125
Caught my lobster!
Member since 1/05 6243 total posts
Wedding Date:
6/4/2006 1:30 PM
Wed. Location:
Russo's on The Bay
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Re: NWR: I learned something new- thought I would share
Very interesting...thanks for the info. Unfortunately we're in no position to consider buying right now. Gotta save my pennies.
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Posted 10/10/05 3:05 PM
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