Moving In for the Long Term

We have signed the contract. We have locked in our interest rate. We have reserved a moving truck, ordered new furniture and have submitted the down payment. Yes, we have bought a house and close on January 22nd. It’s a bit nerve racking these days and experts’ views on what is to come differ greatly. There are some minds out there that believe that the lower prices and falling interest rates present the real estate buying opportunity of a lifetime. Other people are of the view that the bottom is far from near and that prices may continue to fall until the year 2011. Who knows which side to believe. I only know that we need somewhere to live and we need more space, and this house provides both. The only other thing I’m sure of is that this must be a long-term investment for us. While I have no plans to be in New York a decade from now, I never thought I would be buying a house, especially this house, a few years ago. As my Grandma likes to say, circumstances alter cases. And that is never truer than now for us. I don’t expect property appreciation like we saw from 2002 to 2006, but I am hoping that we see some in the years to come. The good news so far is that our appraisal puts the house at $10,000 above what we agreed to pay for it. Let’s hope this is the beginning of a trend.

Advertisements

One Response

  1. Congrats on the home. You’ll need to post some pictures when things settle down.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: