After reading Donne Knudsen's post: It's a Home Not a Piece of Stock I had a thought.  And that is:  A Home is where you LIVE!

When we reach the age of majority, there is a time when we all fly from the nest.  When first starting out, we might call home a dorm room at college, or home might be an apartment with roommates.  But it's home . . .

We cross another threshold -- we rent an apartment or house.  And here's the rub . . . if we're not going to live in Mom's basement for the rest of our lives, there are two -- ONLY TWO -- options of paying for the roof over our head (i.e., home).

PAY RENT ~ or ~ PAY a MORTGAGE

That's it! 

I bought my first home when I was 19.  I married (young) and my then (now ex) husband had been in the Army, and had VA benefits.  We made use of the no-down loan programs available!  At that time, and for us, it made sense.  We were either going to pay rent for a comfortable home, or a mortgage. 

There are some advantages to owning a home, and there are some disadvantages.  Donne's post goes further into this.  And buying is not for everyone.  But, if you can buy, and want to buy, or are thinking about your own home . . . plan now.  If you need some time to set yourself up financially -- or pencil out the cost of a home purchase -- start to PLAN NOW!! If there is an opportunity for you to find a home which was otherwise priced outside your price point -- it is a good time to revisit the notion of home ownership.

It's easy to understand that there is CONSIDERABLE reluctance to buy now.  We hear about short sales, foreclosures, job loss, the banksters wrecking havoc on the real estate market . . .

No one wants to be caught up in a declining market.   Again, referring to Donne's post . . . if you think of a home purchase as a stock investment -- yeah, it's even scarier.

A home is where you live!  And if that's a dorm room, a shared living apartment with roommates, and yes -- even Mom's basement -- it's still home.  

Buying a home might not be right at this time.  And, unfortunately, for millions of Americans who have lost their homes, it's a heartbreaking reminder, and no one should ever forget what so many have gone through.  And what millions are facing!!

Your home is where you live.  I hope you make it a happy home!!  

Try to stay positive and upbeat during this bumpy ride.

search Portland PropertiesEBA Portland ~~ 100% BUYER REPRESENTATION ~~ 100% of the Time

EBA Portland, LLC is an Exclusive Buyer Agency serving the Metro Portland real estate market since 1999. If you’re a Buyer in the Metro Portland area (including: Beaverton, Tigard, Hillsboro, Lake Oswego, Downtown Portland,) and contemplating a purchase, talk with a Buyer’s Agent . . . better yet, talk to an ExclusiveBuyers Agent. Exclusive Buyers Agents do not work for listing brokerages or Sellers. An EBA’s fiduciary dutyis: 100% BUYER REPRESENTATION . . . 100% of the Time.

 Carla Muss-Jacobs
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42 Comments on A Home is Where you LIVE

20 Most Recent Comments Displayed Show All

SEP
02
2010
858,661 Points 184 Featured Posts Attended Rain Camp Called Shot Master
Obviously we need to be wise about our finances and purchases, but at the end of the day....buying a home is always about security and a homebase to me.
10:44am • #23
708,839 Points 39 Featured Posts Outside Blog Called Shot Master
Great post. Many people are scared to take the next step now but as you advised, you have to begin planning ahead! Think it thru & be sure it is right for you & your family (future family too!). Anything that you purchase, stocks or homes, do not have to go up in value. People are just understanding that now with reluctance. It's not a good ATM machine either.
10:49am • #24
My mother once told me that it takes about 6 months to really feel ok somewhere, but if you were there a year it would be home sweet home and somewhere you'd miss most of the time if you looked back on it. I completely agree with her and you, and even my first rental at 18 years old which was a mobile home in a town of not more than 1000 people I called home. Thanks for the post Carla, I always enjoy reading what you have to say!
10:50am • #25
875,866 Points 18 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Carla an excellent post... and house truly is more than an investment for many.  It is where we realize dreams and create memories. 
11:15am • #26
Called Shot Master

Congrats on the feature post. 

I see lots of comments here that indicate there are reasons to consider buying right now but few reasons given.  Those reasons were what I was looking for on a recent blog post http://activerain.com/blogsview/1823392/is-there-reason-to-buy-a-home-or-should-we-all-quit- I thought a compilation of sound reasons would be a benifit to us all.  Here's hoping for a few more responses

 

Hercel Spears

 
11:26am • #27
146,587 Points 2 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Carla - It's not surprising people are scared about buying a home right now, even though it IS a great time to buy one.....bargain basement interest rates, high inventories, and soft prices means you probably won't be able to get a deal like this again in our lifetimes.

So why are people so scared? Because the unemployment rate is around 10% and expected to go higher....doesn't exactly give people the warm fuzzies when many probably wonder if their jobs will be next....then there's the whole gangster bankster brigade who have pretty much guaranteed people will never trust lending institutions again.  Then one only has to watch the short sales, foreclosures, and bankruptcy numbers stack up....and it's hard not to see yourself ending up as part of that nightmare bandwagon.

And if you ARE blessed enough to be in a position to buy a home, and have the chutzpah to move forward with the process, of COURSE you should worry about it losing value before you even get to the closing table! Sliding home values in many areas can make buying a car seem like a better proposition...after all, homes never used to be considered depreciable assets... and if that's what they are right now in some markets, then you damn well better negotiate a price that doesn't put you in the negative on closing day. Or, if that's too much to ask, renting could very well be a good option til things even out. Or, if you are intent on buying a depreciable asset but not completely losing your shorts,  then dang it, go get yourself a Ford Escort and some comfy blankets and move right on in!  :)
11:32am • #28

A home is where your heart is and your heart is your family
11:35am • #29
242,131 Points

Carla:  As they say, Home Sweet Home.  Thanks for your thoughts.
11:51am • #30
1,028,818 Points 16 Featured Posts Localism Sponsor Outside Blog Called Shot Master

I am reminded of this when I shop with investors, we look for completely different things than if they were buying the home to live in.
11:52am • #31
I really liked this post. It keeps things in perspective. Thank you
12:01pm • #32
Attended Rain Camp Called Shot Master

I like to think that people will know when the time is right for them...but a little encouragement never hurts.  I especially like the comments from people above.  Some people do get very lucky at times, but sometimes people need to also realize that the perfect time to buy really does not exist in my opinion.  There are people passing up some great deals right now and maybe they will get a better opportunity in the future, but maybe it will be very similar to what they can get right now.  Hindsight is always 20/20, but forsight is a bit trickier.

Thanks for the post!
12:44pm • #33
163,919 Points 10 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Carla, Thanks for this post.  Even in declining market conditions, buying a home can still make a lot of sense for a lot of people. For people coming to me that aren't sure, I counsel with them and help them to be look at their short and long term circumstances and goals and make sure that owning fits their own situation even if the market doesn't turn around right away.
1:22pm • #34
284,282 Points 18 Featured Posts Outside Blog Called Shot Master

Thanks for sharing your story and the great post!  I agree with you 100% and have been telling the story of owning a home as a place to live for quite some time.  It's amazing to me that owning a home became an investment that was used as a checking account and now that all of that has changed, Americans stall when it comes time to buy.  Owning a home is the American Dream and is so affordable right now.  I only wish that everyone felt that way!
1:40pm • #35
1,003,070 Points 117 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Lee & Carol . . . thank you for you comment, it sum the post up nicely ;-)

Hey Donne -- great story, and puts our to posts together nicely.  A home wasn't an investment for so many years -- it was a home!

Hi Wayne . . . you're right, timing seems to be the key now.

Hey Todd & Devona -- what is really amazing are the financial geniuses who  approved the loans in the first place!  No one would have been able to play piggy bank if the person with the money didn't allow them to!

Hi Terry . . . the pride of ownership, yup!!

Hey Catherine -- don't get me started on the media ...

Hi Leilani . . . thanks, and to reiterate ... don't get me started on the media ;0

Hey Renee -- We were mavericks!  I'll read you're post (I subscribe!)

Hi Deborah . . . How tall are you? LOL

Hey Cheryl -- me too!

Hi Michael . . . owning your home, especially if you're a female, is not even possible is some countries in the world.  I take great pride in owning, and that I am able to buy as a female!

Hey Patricia -- you said it!

Hi Richie . . . good to know

Hey Lori -- well, if you knew the rest of the story, you might not think I was so smart!  LOL

Hi Russell . . . unless it's an investment, then it's home alright!

Hey Sheldon -- you summed it up nicely!!

Hi Karen . . . I made a comment on a post (forget which one) about renting, it can be very taxing.

Hey Lyn -- yes, we see the reluctance now and we may for several more months. 

Hi Joan . . . a home is a place to create memories, and if a person/family rents it's still a home too ;-)

Hey Hercel -- this post wasn't a puff piece about it being a good time to buy.   Perhaps that's why there's no reasons given.  Not sure why you linked your post to this at all. 

Hi Coleen . . . your comments are great!!  A post in, and of, itself.  Personally, your comments do more for rounding out this post, and gives a much better outline of the nature of the beast . . . than does the drible, oh, what the heck -- DRIBLE --found in the above commenter's post. 

Hey Pat -- exactly.

Hi Carrie and/or Kathy . . . they've been saying it for a while now, and for a reason.

Hey Gene -- absoultely.  Investors are not looking at a home purchase for themselves.  I've had homebuyers looking at places as "investors" and they totally miss the mark -- more of what Donne is taking about in her post.

Hi Josh and/or Julie . . . I suggest you take your comment and expound on it, and write a post!  This is really a good topic, and I concur.   Thank you for the comments!

Hi Lisa -- you hit the nail on the head.  We need to counsel them about the home purchase (or sale) if their current financial position will find things favorable.

Hey Jan . . . I don't use the "American Dream" term anymore.  It's overplayed, and for millions, that dream has turned into a nightmare.
3:04pm • #36
597,469 Points 110 Featured Posts Outside Blog Called Shot Master

What new buyers need to focus on is not whether the home will gain or lose in value - but whether they can comfortably afford the payments on their current income. As you said - it's a home. It's a place to put down roots and build memories. And it's a place to call your own.

And, when locked into a low interest 30 year loan, those house payments will become less and less expensive compared to renting in years to come.

Of course, they should also consider whether they plan to stay in the community long-term, and whether they're ready to take the responsibility of caring for and maintaining a home. Some would rather call the landlord.
3:30pm • #37
218,469 Points Called Shot Master
Exactly Carla, Home is where you make it someone once said. Wether it be a basemnt at Mom's, a trailer in a small town or an apartment with friends.
4:04pm • #38
307,600 Points 9 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

I agree completely. We have so many buyers in our market that are buying homes they don't really like because it is a "deal".  If I wanted a "deal" and didn't care about my house I would just rent a hole in a wall somewhere!
10:47pm • #39
SEP
03
2010
592,613 Points 7 Featured Posts Outside Blog Called Shot Master

I think we've lost sight of what you're saying in our society partly because of the 'financial gurus' talking non stop about a home being a liability. As if a lease isn't a liability. You're right - there's only the two choices. Oops, forgot one - living 'on the dole'.
1:37am • #40
SEP
14
2010
259,783 Points 1 Featured Post

Carla ~ I use this slogan, "A house is not your home until you make memories in it" or as a caption under a family picture" Memories like these make your house a home". 

 

It must be a pretty good slogan because I have shared it with others who have then used it or a similar slogan on their business cards or in advertising.
7:50am • #41
SEP
28
2010
2 Featured Posts Attended Rain Camp

I like the way you drive home the point!
6:26pm • #42

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Carla Muss-Jacobs - Principal Broker/ Owner | Buyers Broker | Buyers Agent EBA (503-810-7192 | BuyersAgentPortland.com) Rainmaker_large

Carla Muss-Jacobs - Principal Broker/ Owner | Buyers Broker | Buyers Agent EBA

Portland, OR

More about me…

503-810-7192 | BuyersAgentPortland.com

Address: Beaverton OR, Portland OR, Forest Heights, Lake Oswego, Hillsboro, SW Portland, SE Portland, NW Portland, N Portland, Downtown, The Pearl, NE Portland, Milwaukie, West Linn, Aloha, Cedar Hills, Portland, OR

Office Phone: (503) 810-7192

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Author Bio: Carla Muss-Jacobs is the Principal Broker/Owner of EBA Portland, LLC an Exclusive Buyer Agency representing Buyers in the Portland Metro real estate market since 1999.

The Sellers have their own agent ~~ Why don't you have yours?  

Carla Muss-Jacobs practices the TRUE FORM of Buyer Agency ~~ Exclusive Buyer Agent.  Her office/brokerage never takes listings and never respresents the Seller.  Exclusive Buyer Agency is the BEST form of legal real estate representation a Buyer can have.  There is 100% Buyer Representation - !00% of the Time.  There are NO CONFLICTS OF INTEREST and there is no possibility of ever having YOUR Buyer Agency comprised.  When buying a house -- it's important to know who is working for you!!  



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