- Centurion Member
- Posts: 4913
- Joined: Sun May 20, 2012 4:35 pm
- Location: WI
I'll be sure to compare conventional vs FHA with the Loan Officer when we meet. If I don't have to pay it forever, great. I can go conventional, in terms of the 5% down, the real reason I wanted FHA was for the benefits of it rather than just a 3.5% down payment. But if it will cost me dearly vs conventional maybe it's not worth it. I'll ask to compare the two and see what we come up with.
By the way, I'm sure the local area here is VERY different from other areas of the country, as you guys had told me if I found a house I like I need to be prepared to jump on it, but as I've said the economy here is not much above a few years ago, we never saw any "recovery" (I still wonder what the hell the media is talking about when they bandy that about) and it's clearly a buyer's market here - there are homes that are nice and they simply can't sell them. One I looked at over two months ago sold for 174,000 in 2006. It was listed at 119,000 in November 2013, and they have not gotten a bite on that, I mean they can't sell it for that. I kid you not, that's what the market here is like. I see home after home listed at 58 days on the market, 115 days on the market, some over a year, price drops, etc. A few get an offer reasonably quickly but the vast majority do not. I have a list of about 20 of them that are prospects I've been compiling from the emailed listings I get and last week I checked to see if they are still on the market, and every single one of them was. So, I think we can all draw our conclusion on what sort of market it is here.