23 year old seeking advice!!!

**solodolo** · 02-18-2009, 08:21 AM

I am currently 23 years old, have a great job, and i still stay at home with my parents (to save money!). I am currently saving a $1000+ per month. I live in Dallas, TX and there are a lot of nice townhomes/condos for affordable prices.

I don't know whether i should wait and keep saving or act pretty soon and buy a house/condo/townhome?

What if prices shoot back up?

Any advice?

**Bridget** · 03-04-2009, 10:23 AM

I don't think prices will go up anytime soon. It will take a while for things to get better and the inventory of foreclosures and bank owned properties to go away! Best of luck to you!

**Jenie0109** · 03-04-2009, 08:49 PM

I agree prices won't go up anytime soon, observe the trend if they are getting lower and you thin that the prices are a the lowest, grab the opportunity.

**houston** · 04-19-2009, 09:10 PM

I doubt prices are going to shoot up soon. I would be worried interest rates are going to move up. Interest rates can have a huge effect on your downpayment. Also I would buy a house or a duplex over a condo. In many areas condos were way overbuilt.

**Robert** · 05-05-2009, 04:02 AM

The prices will never go up suddenly. Don't worry regarding that.

**REITrainingWhse** · 05-05-2009, 09:47 AM

Originally Posted by Robert

The prices will never go up suddenly. Don't worry regarding that.

D**N!!! I sure wish they would!

They sure have a way of going down swiftly.

**markbrian** · 05-08-2009, 03:13 PM

Prices do not normally shoot up, and they may continue to go down in your area. The thing to do is to continue doing what you have started and that is to educate yourself. Determine your budget, look at this rent vs buy webpage, start determining what location you want, what features, how big, etc etc. Keep researching and start asking local Realtors about different homes you like. Do not sign anything to commit you to working with only one REALTOR until you find the one with the knowledge and experience you need to assist you AND you are comfortable with.

The main thing is interest rates are great, there are great deals in some areas. But educate yourself further before signing any paperwork.

**Vegasloanlady** · 05-09-2009, 12:36 AM

build your credit up and save for a down payment. attend real estate investment club meetings ( REIA.com) and get to know the players in your area.

**EddieSy** · 05-10-2009, 03:16 AM

No, they're not going up anytime soon.

Although, if you look at the median prices of some real estate in some states, they are slowly creeping up. But I doubt the same thing will happen where you're at.