05-27-2016, 12:58 PM | #67 |
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05-27-2016, 01:00 PM | #68 |
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05-27-2016, 01:32 PM | #69 |
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05-27-2016, 02:09 PM | #71 | |
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Only problem with that is that in 5 years, where will your rate be? With the 30yr mortgages that the US typically does, you know what you will be paying for 30 years. Now if you pay it all off in 5 years, then it doesnt matter. The comparable rates to the US market's type of mortgage is 8.7% + for a 25yr fixed rate. No where near the mid 3s that you can find in the US. And if you drop the US mortgage to 5yr or even 10yr, you are right at or below what the Canadian rate is. |
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05-27-2016, 02:30 PM | #72 | |
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05-27-2016, 03:30 PM | #73 | |
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05-27-2016, 03:55 PM | #75 |
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05-27-2016, 03:57 PM | #76 |
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No, an appraisal is not public record, so when you refi, the home's apprised value is not shared with the county tax assessor. They will do their own annual assessment.
However, if you home appraises less than what the assessor has you taxed at, you can use it to try to get them to lower the taxes. |
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05-27-2016, 04:57 PM | #78 |
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I think over the long run, real estate will alwAys go up because population grows. But prices right now are insane and pretty much at the peak. So I don't believe that they will increase in the next few years. If anything, I expect them to go down.
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05-27-2016, 06:11 PM | #80 |
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05-27-2016, 07:41 PM | #82 |
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Check out this report and you might think differently afterward.
http://paragon-re.com/Bay_Area_Housing_Affordability Not to be a downer but sounds like getting a good mortgage wont be your only issue. You will be competing with many many other buyers with well qualifications (along with lots of cash for down payment). In our case, i have 827 score on my FICO (the Mrs is about 800). We qualified for more than our max budget of $1.3mil, gross income of almost $300k/year. With over$375k in Cash. we have been looking for over a year now. Yes, we are are only concentrating on a smaller area of the Peninsula and everything got sold within couple weeks with usually 15-20% over asking. Hopefully your area isn't as crazy. |
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05-27-2016, 07:50 PM | #83 |
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Another good read! No one know when it will happen but history tends to repeat;-)
http://www.paragon-re.com/3_Recessio...les_and_a_Baby |
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05-27-2016, 09:22 PM | #84 | |
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05-27-2016, 10:41 PM | #85 | |
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Yes, my realtor and mortgage person keep telling me that the price will keep going up and the mortgage rates will also going up so i need to buy NOW |
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05-28-2016, 02:44 AM | #86 |
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If you believe it, its not a lie.
Since the OP posted this thread, requesting a house for 650K, that house has appreciated to ~690K. |
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