All first-time homebuyers get a free 8000, most unreal thing I've ever heard!

[bettilimbroke999]

Basically buy a home before Dec 1st and get 8000 refundable credit on your tax return, this is completely different than the up to 7500 tax credit Bush offered as it was an interest-free loan repayable over 15 years, this Obama credit is 10% up to 8000 just straight cash money if its your principle residence and you live there for 3 years (less than 3 years and you have to repay the credit)

Holy shit if this doesn't make your ass want to go out and buy a house nothing will, think about it if you buy a home a day after the program expires (Dec 1st) you would have just blown 8000 dollars that you would have gotten back on your taxes 2 months later had you closed on the home on Nov 30th instead, man that's gonna be a busy week for realtors

Obama really is Santa Claus!

[pico]

but you end up paying property tax on a house that is losing value

[bettilimbroke999]

Home prices have plummeted, hard to believe they will get any cheaper, even before the bubble burst a particular home may have been worth 100k, now it may have gone up to 250k before the crisis but its still got true value around 100k, we are 3 years into the crisis, the true values of homes are coming into play

If you're thinking about buying a home, with a free 8k and many low-priced homes available now is not a bad time to do it. Property taxes will always be there but would you rather pay property taxes or just throw your whole equity in the trash by renting?

[diogee]

No way this makes me want to buy a house...not until the prices drop.

[bettilimbroke999]

No way this makes me want to buy a house...not until the prices drop.

Market is saturated with tons of foreclosed homes at huge discounts already, homes will never be cheap but they are nearing their low point

Go to foreclosure.com and you'll be amazed at some of the previously sold prices versus current asking prices, homes that sold last year for 130k are selling for 70k this year, perhaps theyll plummet even further but there is always some significant value to a decent home in a decent neighborhood

[pico]

more foreclosures coming...

[diogee]

Market is saturated with tons of foreclosed homes at huge discounts already, homes will never be cheap but they are nearing their low point

Go to foreclosure.com and you'll be amazed at some of the previously sold prices versus current asking prices, homes that sold last year for 130k are selling for 70k this year, perhaps theyll plummet even further but there is always some significant value to a decent home in a decent neighborhood

Not in my area...a home that was 120k a couple of years ago is now over 200k. For between 190 and 200 you can get around a 1400 sq ft home on half an acre. Granted it will plummet within the next year or so with how much they have thrown up in the last year. I'm just waiting out the boom I suppose...why people come to Wyo I have not idea.

[bettilimbroke999]

That is a good point maybe it is still time to hold back on buying a home but you have to weigh the amount of money you're throwing away on rent and the up to 8k you're throwin away while waiting for prices to come down

Should you go all out and overextend yourself on an expensive great home or invest in real estate, I wouldn't think so, but with the current free money on the table and high number of foreclosures (along with numerous bankruptcies and poor economy lowering demand) it could be a good time to purchase a starter home

[diogee]

Methane drying up, oil field slowing down, huge power plant almost done, and Obama will do all he can to f*ck and keep coal slow on top of lower Natural Gas prices keeping it slow...so a bust has to be just around the corner.

[bettilimbroke999]

Not in my area...a home that was 120k a couple of years ago is now over 200k. For between 190 and 200 you can get around a 1400 sq ft home on half an acre. Granted it will plummet within the next year or so with how much they have thrown up in the last year. I'm just waiting out the boom I suppose...why people come to Wyo I have not idea.

That sucks, here in TN home prices have already fallen very considerably, foreclosures.com has some unreal prices but who knows maybe the previous owner shit allover the place or something since they were kickin him out not sure but the free 8k has definitely increased my interest in purchasing a home

[pico]

That sucks, here in TN home prices have already fallen very considerably, foreclosures.com has some unreal prices but who knows maybe the previous owner shit allover the place or something since they were kickin him out not sure but the free 8k has definitely increased my interest in purchasing a home

they might also shit between the walls. imagine if you get fvcked over by the banks. i would probably strip all the copper pipes and all the wires before i get kicked out. fvck the banks

[jjgold]

Only buy 2-6 family type units to rent

Apts is where money is