Long time…

It’s been a long time since I posted because I’ve been super busy with life and also things just continued down the same path (declining home values, rising unemployment, futile government intervention attempts) with no major change. Over this past summer things definitely stabilized a bit on the home value front in the Eastvale area with the first time home buyer tax credit, record low mortgage rates and lots of interest from investors all conspiring to prop up prices. Hopefully this is not just a temporary bottoming and these price levels will hold. Nobody really knows what the future holds but if you’re planning on staying in the house for a while (read > 7 years) and the monthly payment is something comparable to what you’d pay in rent then I’d say go for it. But definitely lock in the lowest possible mortgage rate you can get for 30 years. Forget about taking on anything that is adjustable, etc… because there is only one way for mortgage rates to go from here and that is UP which will make your monthly payment rise to a level you have not planned for. Be smart and learn from the past few years and don’t get in over your head.

If anyone has some interesting/funny/irritating Eastvale housing experiences to pass on let me know and I’ll write about it.

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~ by razor on November 27, 2009.

One Response to “Long time…”

  1. I am hoping the prices hold. My house is about 100k in the hole and all the ugly houses in eastvale are an eyesore!

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