It’s a bad real estate market right now.  After a big soar in the house sales and activities the past couple of years, the business plummeted so dramatically.  Altho, it’s always been known that sooner or later the bubble will burst.  But we probably didn’t expect that it would dive this hard.  A really big “ouch” for everyone connected to the biz and for those who had those “changing” interest rates.  I know a couple of our friends who lost their houses or are about to because of the fluctuating interest rates they had on their loans.  (Can’t remember exactly what that’s called.  Must ask hubbie what the term is.)

I wonder if one of the reason for the recession we’re having right now is because of the unbalanced priorities the government has of where to channel their energies (and their money).  Like, if the government started concentrating on the deteriorating economy when it was starting to go down rather than putting in more money in their “military projects”, would we be experiencing this right now?  Or at least, it won’t be this bad?

‘Sad when you hear of people losing their houses or letting them go to foreclosures because they just can’t afford the high interest rates or they lost their jobs because of the retrenchments happening.  A couple of my friends have moved from California to Maryland because the real estate lending company they used to work at had to cut down on people.  And there isn’t much work in the Golden State right now, so they’re moving back east.  Good for me, tho, cause I really miss my “homies” so this time, I can see them without breaking my bank account

On one hand tho, this is the best time to buy a house.  That is, if you get approved to avail of a housing loan.  It’s specially good for renters.  Because of the low prices, they have a bigger chance of owning the house of their dreams now.  But if you’ve got a house (like hubbie does) and you need to sell it before you buy a new one, this is still not the good time to do so.  It’s even harder if you have to do a lot of repairs to the house to get it as presentable as you can for the buyers.  There’s just a stiff competition out there right now.

So since the unbelievable gas hike is really putting a toll on our sanity plus hub’s house being fully paid (yup, blood, sweat and tears he put in in paying for the mortgage by himself all these years), we’re really considering buying our own house and thinking of just renting out his house for awhile.  And since this time around it’s going to be OUR house and we’re both equally going to pay for it,  I’m going to make sure that repairs do not pile on top of each other.  I’m thinking, the best way to avoid really major repairs (and, consequently, huge house repair bills) would be to make sure that the small carings be done right away.  (I wonder if its good to invest on warranties, like those American Home Sheild type.  Hmmmm…)

But yeah, we’re off looking for a new place again.  The gas prices is making it too unreasonable for us to be living in Baltimore when my work is in Annapolis.  Lucky for hubs cause he works in downtown Baltimore, so Annapolis would just be the same commute as where we’re currently at.   I’m actually excited to have a house we can now call “ours” – meaning mine and hubs.  I’m now dreaming of what to put in, what the whole theme would be.  (“Moroccan” really is a strong leaning for me.) 

So if we both buckle down and get things going, Christmas might see us in a new house already.  That’s just sweet