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How easy is it to buy a home?

How easy is it? I hear that now it's extremely easy, but I have my doubts. We were looking, but with the economy so bad, it worries me to buy and then one of us lose our jobs or something. But is it easy to buy a house with the economy so bad?

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Anonymous

Asked by Anonymous at 2:04 PM on Mar. 31, 2009 in Money & Work

Answers (2)
  • It's "easier" in the sense that many people selling their homes can't really afford to bargain with you. Since many people don't have a lot of money and loans aren't as easy to come by, there are fewer buyers therefore fewer people to compete with over a house. If they NEED to sell their house and aren't getting any good offers, they end up having to accept the low-ball offers. This might end up in you getting a really affordable home. If someone has had to remortgage their home, they may owe more money on the house than it is worth and will not be able to accept low-ball offers in order to sell it. I feel bad for those people, they're stuck in a hard place.

    It's not as "easy," on the other hand, because if you are worried about possibly losing your job, you're now stuck in a house that'll be hard to sell. You have a while to think about it. The realestate market isn't going to improve any time soon IMHO.
    NovemberLove

    Answer by NovemberLove at 2:09 PM on Mar. 31, 2009

  • I think its harder to qualify right now, but if you do, I think theres a government program going on that is giving rebates to those who buy homes right now. My SM is a real estate agent and I heard her say something about an $8k rebate to homebuyers. Then I saw a sign that said $3k. Either way, its a good time to buy a home if you can qualify and afford to do it. Good luck.
    momofsaee

    Answer by momofsaee at 2:24 PM on Mar. 31, 2009

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