Well, almost 3 years ago M and I decided to sell our home in Draper, buy an "investment" which turned out to be a small condo in West Valley (which B calls "the hood"). As some of you know, we bought it on the "cop next door" program for 50% of the appraised value and then spent some money fixing it up. Here we are 3 years later and we are trying to make the most of our investment. Trying to find a new home that is not 4 feet from the neighbors house, has a three car garage and some room to move around a little (at least a 3 bed, 2.5 bath) is time consuming and frustrating.....the prices are HIGH! Then, every time I look at the newspaper or Internet there is an article about the housing market and how home sales are slowing and that prices are going to "soften"......trying to get the most out of the "investment", and finding something we like that is not $400+ is crazy.....any advise on buying now or holding out for the market to "soften"?
As for our place in the "hood", it has been a calm, quite place. However, Tuesday at about 4:30 am (just after our alarm went off) the power went off and then we heard two LOUD booms that shook the house! M took off for the door to check things out....we couldn't see anything and the power returned after just a few minutes. Well, long story short - the home on the corner was served a "no knock" warrant and they used a "flash bang" to enter and clear the house (hence the loud noises)....M did some checking and found out that the owner is into guns and drugs!, and that her office was called in to investigate. Holy cow, it's always a little more scary when it happens 150 yards from your place!
M's shoulder is doing well - but she has to remain in the sling until the first week of October. She goes to PT twice a week and then does a few small exercises (shoulder shrugs, etc) at home. The worst part is trying to sleep and night and finding some comfortable position to sleep in. We are all very anxious to have the arm in working order again!!!
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6 comments:
We are starting to have the same discussion here. We are in the "hood" ourselves and thought we made a good move by buying a new construction condo. We can probably get a house now for a reasonable price - more reasonable than 6 months ago I guess - but our problem is that we're not going to make a dime on our property if we want to sell it.
If your concern is to make some money on it and you can wait, I would wait. But it could be a long wait. That's what I'm worried about.
Holly - thanks for the advise - we do want to make the most out of the investment, but are also tired of waiting....
We just got pre qualified to buy our first house. It is in a good neighborhood, but a fixer upper. The houses might be at a low price for awhile. Good luck.
The thing that I have heard is that the market is leveling off...not going down. Utah is the new place to move. I don't think it will matter if you move now or wait a while. It's all in what you feel. Maybe take it slow....find that PERFECT house. The one that you want and dream of. (well that you can afford :) and go from there.
I like Karens comment.. I personally and from what I have been learning.. It will go down a bit from now... So I think if you are patient, things will fall in your lap..
Good luck, and please let me know if I can help you with anything..
:)
The housing market is crazy right now! We've been looking with Shelly's Mom and can't believe how expensive everything is. Here Mom's take on it is why wait for it to die down, because it's mostly like not going to. Salt Lake is a valley and there is only so much room left. Once the valley is tapped, which it's getting close, real estate will continue to go up. It's not like Phoenix where you can keep going out further and further. Once it's gone, it's gone, and we're getting full. Just a piece of advice that made some sense. Good luck!
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