The Chronicle of the Horse
MagazineNewsHorse SportsHorse CareCOTH StoreVoicesThe Chronicle UntackedDirectoriesMarketplaceDates & Results
 
Page 1 of 2 12 LastLast
Results 1 to 20 of 31
  1. #1
    Join Date
    Jan. 16, 2003
    Location
    Tennessee
    Posts
    3,038

    Default Is anyone contemplating buying a house?

    Friends of mine who are real estate agents say that they've had an increase in sales. However, with the fiscal cliff situation, will banks be more cautious on lending than they already are? If higher taxes become a reality, it seems that home sales would go down some. Just wanted to see if anyone had any actual experience with buying these days. A family that's in one of our rentals says they want to buy, and I hope it goes well for them. They always pay their rent on time, and I'll hate to see them move out, but no one should have to rent if they want to buy.
    It's 2014. Do you know where your old horse is?


    1 members found this post helpful.

  2. #2
    Join Date
    Jan. 26, 2006
    Location
    Fort Worth, Texas
    Posts
    4,616

    Default

    Quote Originally Posted by pony4me View Post
    If higher taxes become a reality, .
    No question about taxes going up... there are the embedded tax increases from the health care act that start kicking in Jan 1st

    and there this a direct connection to real estate as there is a tax on the sale if the seller is cashing out (3.8%) with more than $250,000 (for a couple--$200K for individual) -- I beleive those numbers are correct
    Last edited by clanter; Dec. 26, 2012 at 01:49 PM.



  3. #3
    Join Date
    Dec. 4, 2005
    Location
    washington state
    Posts
    9,192

    Default

    I am wanting to buy in a few months but we will see. I tend to take a long time to come to decision on buying large purchases. Also, I kind of want to buy in winter so I can see how wet and nasty it gets from the get go.
    The Knotted Pony

    Proud and upstanding member of the Snort and Blow Clique.


    1 members found this post helpful.

  4. #4
    Join Date
    Jun. 24, 2005
    Location
    Alabama
    Posts
    9,046

    Default

    The only real estate related problem I've heard of is if the mortgage interest deduction is limited, and I've read that it would be on very large amount mortgages, so it's probably not going to effect regular people. Houses in Canada sell well, and I have heard they don't even have a mortgage interest deduction at all (not positive if that's on all mortgages or large ones).
    You can't fix stupid-Ron White



  5. #5
    Join Date
    Jan. 31, 2003
    Posts
    18,472

    Default

    We have friends who are looking and they cannot find anything. The supposed buyers market has never really existed where I live, there was a brief rash of foreclosures and then things leveled right back out. I think people are not willing or interested in dealing with the mindset of many/some people who are looking, which is that due to the economy they should be able to get something for nothing. Interestingly, I have been approached twice this year by people shopping for a farm, who cannot find what they want, to see if we would sell and both indicated they were willing and able to go above and beyond appraisals. My farm is not for sale, but it gave me pause about the real estate market.
    "Kindness is free" ~ Eurofoal
    ---
    The CoTH CYA - please consult w/your veterinarian under any and all circumstances.


    1 members found this post helpful.

  6. #6
    Join Date
    Mar. 26, 2008
    Location
    Maine
    Posts
    1,855

    Default

    I'm closing on a house on Friday...!! I didn't have a difficult time getting approved for a mortgage loan, but I also have a steady income, good credit history, and no debt. I got a great rate too.
    "Last time I picked your feet, you broke my toe!"


    2 members found this post helpful.

  7. #7
    Join Date
    Dec. 4, 2005
    Location
    washington state
    Posts
    9,192

    Default

    Details mg! Details please!

    And congrats
    The Knotted Pony

    Proud and upstanding member of the Snort and Blow Clique.


    1 members found this post helpful.

  8. #8
    Join Date
    Jul. 15, 2006
    Location
    VA
    Posts
    870

    Default

    I bought my house a year ago the 29th. We were approved easily enough but the paperwork required on a rural modular house with property was hellish, it put our closing off by a month with differnt little pieces of paper needed each week to get through underwriting.


    1 members found this post helpful.

  9. #9
    Join Date
    Nov. 13, 2011
    Posts
    1,097

    Default

    SO and I are hoping to get a place sometime in 2013...however, I've told him that I'm not signing paperwork to buy a house until he "puts a ring on it." We'll see!
    "A horse gallops with his lungs, perseveres with his heart, and wins with his character." - Tesio


    2 members found this post helpful.

  10. #10
    Join Date
    Feb. 23, 2003
    Location
    Norcross GA
    Posts
    2,011

    Default

    Likewise with mg. My offer on an unlisted home was accepted Christmas Eve. I close Jan 31. No debt, excellent credit, and steady income. Also got a great rate!
    TIMBERRIDGE SPORTHORSES:
    www.timberridgesporthorses.com
    --> Just Press Start // '99 Oldenburg
    --> Always The Optimist (reg. Simply Stylin) // '02 Thoroughbred


    1 members found this post helpful.

  11. #11
    Join Date
    Oct. 12, 2001
    Location
    Center of the Universe
    Posts
    7,191

    Default

    I'm planning to start looking for a new place next year.



  12. #12
    Join Date
    Jun. 7, 2006
    Posts
    8,904

    Default

    I was NOT AT ALL contemplating buying a house last year until some crazy potential landlord wouldn't rent to me because she thought my BMW wasn't a "winter safe car" and she was "concerned whether I would be able to meet all my responsibilities."

    This pissed me off sufficiently that I looked online to buy and made an offer on my current house the NEXT DAY.

    Took my 780 credit score to the bank and put 20% down to boot.
    Despite, you know, being an irresponsible Bimmer driver.


    4 members found this post helpful.

  13. #13
    Join Date
    Aug. 27, 2008
    Posts
    393

    Default

    I just started the process of pre approval. I'm approved but just have to give the lender the actual paperwork proving my income, etc. I'm really excited. I'm in Central Virginia. I know I'm not going to be able to get something for nothing. Hopefully people are selling!


    1 members found this post helpful.

  14. #14
    Join Date
    Oct. 16, 2011
    Posts
    1,192

    Default

    Quote Originally Posted by meupatdoes View Post
    I was NOT AT ALL contemplating buying a house last year until some crazy potential landlord wouldn't rent to me because she thought my BMW wasn't a "winter safe car" and she was "concerned whether I would be able to meet all my responsibilities."
    Wow. Consider that a good sign for you though that she shared her brand of crazy with you before you signed a lease, she probably would have been absolutely nuts as your landlord!
    *Wendy* 4.17.73 - 12.20.05


    2 members found this post helpful.

  15. #15
    Join Date
    Feb. 1, 2001
    Location
    Finally...back in civilization, more or less
    Posts
    11,510

    Default

    DH and I purchased a new home here in Atlanta a couple months ago when a suitable property became available in the neighborhood we really wanted. (We still have our old home in CT as well, sigh.) We had planned to rent here until our old home sold, but with rates where they are, it was actually a much better deal to buy (and we were fortunate to have sufficient assets to do so despite having an existing mortgage.) We got a fabulous rate and very favorable terms and were able to close roughly a month after our offer was accepted.
    **********
    We move pretty fast for some rabid garden snails.
    -PaulaEdwina



  16. #16
    Join Date
    Aug. 2, 2004
    Location
    Whidbey Is, Wash.
    Posts
    9,873

    Default

    Holy smokes meup! Shame on you for driving a foreign car (that is driven in, yanno, Germany and Russia in the winter...).

    We're putting our house on the market in Jan (both and ), so I hope people are buying!
    COTH's official mini-donk enabler

    "I am all for reaching out, but in some situations it needs to be done with a rolled up news paper." Alagirl



  17. #17
    Join Date
    Aug. 22, 2001
    Location
    Almost Aiken
    Posts
    2,740

    Default

    Yep, we hope to buy a second house in the next few months.



  18. #18
    Join Date
    Jun. 7, 2006
    Posts
    8,904

    Default

    Quote Originally Posted by TheJenners View Post
    Holy smokes meup! Shame on you for driving a foreign car (that is driven in, yanno, Germany and Russia in the winter...).

    We're putting our house on the market in Jan (both and ), so I hope people are buying!
    I know.
    Now I drive a Mercedes Benz 4-matic.

    Bet that would throw her for a real loop!!



  19. #19
    Join Date
    Mar. 26, 2008
    Location
    Maine
    Posts
    1,855

    Default

    Quote Originally Posted by twotrudoc View Post
    Details mg! Details please!

    And congrats
    Thanks! I wish the details were actually exciting, but they aren't really It's a split level on 2 acres with a fenced in backyard. No places for the ponies, but it's a 6 minute drive from my family farm where I keep and care for the beasties, so a good compromise. It also overlooks the pastures of my friend's gorrrrrrrrrrgeous farm that I absolutely covet and a small hobby farm with cattle on the other side. It's in good condition, runs nearly everything on propane, and heats super efficiently.

    I started looking at houses last spring and endured a lot of disappointment. I didn't have a huge budget because 1. I'm only 24 and 2. I'm frugal and don't want to end up house poor. I was under contract for a place in July that ended up failing the inspection miserably. After that I was pretty cynical about every place I looked at. The last place I looked at before the one I'm getting was actually very cool: built in 1800 and converted from a mill barn into a home. They left a lot of the original mill pieces when they converted, like the center shaft the oxen turned. It was SO cool and SO very "me", but the new addition they put on that had all the plumbing, etc was built on the most horribly done foundation ever. It was entirely heaved up and cracked into large pieces
    "Last time I picked your feet, you broke my toe!"



  20. #20
    Join Date
    Jun. 24, 2005
    Location
    Alabama
    Posts
    9,046

    Default

    Remember to look at how the water from rain or snow will be guided away from the house, and in snow or ice country the best direction for a garage and driveway is South.

    And one of the best sources of real estate that is priced well, and probably only needs cosmetics is through the estate sale, or a divorce sale when the owner or heirs just want to get rid of the place.
    You can't fix stupid-Ron White



Similar Threads

  1. Buying a house, financing trying to declare it a "working farm"
    By majesticthundor in forum Around The Farm
    Replies: 7
    Last Post: Apr. 9, 2012, 11:43 AM
  2. Replies: 47
    Last Post: Sep. 19, 2011, 10:56 PM
  3. Am I totally insane?? (Buying a house??)
    By FrenchFrytheEqHorse in forum Off Topic
    Replies: 13
    Last Post: May. 30, 2011, 06:30 AM
  4. Buying a house / land - when?
    By Blugal in forum Off Topic
    Replies: 10
    Last Post: Sep. 2, 2010, 09:51 AM
  5. Buying a foreclosed fixer upper farm house - *Good news!
    By Ihatefrogs in forum Around The Farm
    Replies: 68
    Last Post: Mar. 11, 2010, 09:11 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •