Hey I have a question off track - due to the recent Lehman bros and Merryll Lynch collapse, do you think buying a house ( in an excellent school dist. actually) is not advisable? in the bay area that is. I am planning to buy a home in a month in either San Jose evergreen or Cupertino or San Ramon where the schooling is 10/10. since you are a home owner, do you have any comments on the market for potential buyers?
i think getting a loan just got a whole bunch tougher in the last two weeks.
that said, me being geographically on the other end, i can offer generic comments.
- try to get a fixed-rate ortgage - negotiate as best as you can (this is a buyer's market, and you have the most leverage) - you do need to stay put at least 3-5 years to see any monetary benefit (any less, you should rent) - hopefully your job is secure and/or you don't mind commuting to a different job - just because schools are 10/10 today, they might or might not when you plan to sell
of course, sundar might or might not agree with my points.
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Hey I have a question off track - due to the recent Lehman bros and Merryll Lynch collapse, do you think buying a house ( in an excellent school dist. actually) is not advisable? in the bay area that is. I am planning to buy a home in a month in either San Jose evergreen or Cupertino or San Ramon where the schooling is 10/10. since you are a home owner, do you have any comments on the market for potential buyers?
anonymous:
i think getting a loan just got a whole bunch tougher in the last two weeks.
that said, me being geographically on the other end, i can offer generic comments.
- try to get a fixed-rate ortgage
- negotiate as best as you can (this is a buyer's market, and you have the most leverage)
- you do need to stay put at least 3-5 years to see any monetary benefit (any less, you should rent)
- hopefully your job is secure and/or you don't mind commuting to a different job
- just because schools are 10/10 today, they might or might not when you plan to sell
of course, sundar might or might not agree with my points.
- s.b.