23 year old seeking advice!!!

**solodolo** · 02-18-2009, 07:20 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?

**adrianpete** · 02-18-2009, 07:37 AM

It appears you will receive an $8,000 home buyer credit on your 2009 tax return if you buy a home in 2008. Interest rates are low, so that is another benefit of buying now.

It is impossible to know whether the Dallas market has bottomed out or not, and I'm not in that market. However, things appear to be pointing towards buying now or next year.

How eager are you to be a homeowner? Put me in your shoes, I'm probably looking at properties with the intent to buy.

**real_pro** · 02-20-2009, 01:31 PM

how much of a decrease in values have you seen in your area?

**foreclosureoftheday.com** · 02-20-2009, 02:04 PM

There are a ton of good deals in the Dallas area. I would look at some countrywide or sallie mae foreclosures. If you can have a good down payment I would jump all over it. Prices are not going back up anytime soon but that has little to do with it. Buy something you are happy with and has a comfortable payment and you will be happy.

**Mijas Real Estate** · 02-21-2009, 11:36 AM

Hi,
Welcome to the Real Estate Forum, i'm sure that we aren't too far away from a bottom in the US .....but having said that who really knows !
I would only buy now if you can find something of good value for money that you like not just as investment but if you had to live there for any length of time you would be happy not needed to sell.
Good luck out there

**agentsranking** · 02-24-2009, 06:57 PM

There are a lot of great deals out there right now so it is a good time to start looking. With that said don't feel pressure to buy something right away; once things settle down it is going to be a very slow move back up. You don't need to worry about the market shooting back up; more likely it will be a slow crawl.

**BrianMac** · 02-25-2009, 01:49 AM

Hate Dallas... Go with San Antonio, way better for value in my opinion. Also has a ton of potential to grow.

**solodolo** · 02-25-2009, 11:31 AM

Uhhh...I live and work there!!!

**4realest8** · 02-25-2009, 04:11 PM

haha ya u might have to buy there. I would say go for it. It's a great time to invest for sure!

**Jenie0109** · 02-25-2009, 07:11 PM

What I think you should do is to observe the trend, if it is a downward trend, then go for it! I doubt prices will shoot back up considering the current economic situation.