Record low mortgage rates?

[Neal]

Anyone buying real-estate with the record low mortgage rates with what appears to be rates under 3% coming?

I can't ever figure out where or what I want to do but I've considered a condo in St Pete FL, I've considered land in western VA or NC. Something with rolling hills, a lake, nice open land. It seems like it may be time to take the ole RV out to prospect.

 

[TJ&LadyDi]

IIRC, @Neal, it is difficult to get a mortgage on raw land.

TJ

 

[jmltech]

Crazy low right now. Looking at refinancing @2.8 with Wells Fargo. Was going to payoff our retirement home when we retire, but I think I’ll just refinance instead.

@Neal - when we were looking at property in N.C., I was amazed at what you can purchase... 10 acres horse farms with ranch and barn for low 200’s. Compared to the cost of property in the Maryland/Virginia/DC area, that was an eye opener! We decided we needed bigger mountains so we purchased our retirement house with some land in Colorado instead. N.C has some beautiful areas.

But you’re right, with these mortgage rates, it is a good opportunity.

 

[Neal]

I'm ill prepared sadly, this is something I wish I had a better handle of where I really wanted to go. Good thing I have a RV so I can change that scene. But yeah, 10 acres of land would be nice other than my fear of the loneliness of it. I would love a condo south of Tampa I think. Colorado is on my list to explore. This past winter AZ was on deck and that is a NO. CO is the next option along with land and condo options I need to consider. I'll probably miss the opportunity in reality as again, I'm not prepared for this decision having spent no time looking, investigating, soul searching. Moving is a very tough subject and situation, and expensive at that. Additional properties is probably what I'm looking for if I was to do so now, whether land or a condo in an alternate location as a pseudo investment.

 

[Jabber Jaw]

The acreage is nice,BUT the chores never end! Always something else to do, change, fix, keep up with, cut grass, trim, weed eat, trim shrubbery, clean the pool, water test & keep pool chemical balance correct, & on & on! And if the home is more than say 8-10 years old, then more stuff, such as repainting, redecorating, keep the hay field cut, so forth & so on!
And folks, that's why I'm selling & moving to St. Augustine in a bit smaller home, with garage and RV garage for the coach, a smaller lot; and it is going to come with a guy to cut the grass weed eat, trim, etc. And a "lanai" on which to sit, drink coffee, or wine, or cold beverage, and enjoy the birds, cranes, eagles, etc on & around the lake!
At 73, my old body can't do all the things it used to could do!
Plus, I'd rather tinker with the coach and enjoy it more. Hopefully, more travel plans in the future.
The weather in St. Augustine is not quite as hot, has some weather changes with the seasons, is closer to the kids, and in our case, just a great choice! Lots to do, see, etc, reasonably close by, and a big thing, enjoy the tax benefits!

Neal, come to Rockville, you can have a nice brick rancher, some rolling terrain, a big garage, & an RV port already built, plus you get your own personal swimming pool, and some acreage too! ??
Just kidding, there are many beautiful places in this nation to live! I'm just tired of the taxes & political hassle in Virginia!

 

[redbaron]

Ya be careful how much land you end up with. My texas home requires 2 full time ranch hands to keep up with chores and maintenance. In the summer we run 2 more part time hands.

 

[J&JD]

Hey @Neal ,
Come on west to the Bay Area where you can get a 1000sq’ fixer upper on a 4500sq’ lot for around $800k. What makes it even better is that your property taxes on that gem would only be about $10k/year. But that’s ok because diesel is way down to around $3.50/gal......Did I mention that you can’t beat the weather. Honey, bring me another glass of that Pinot Noir please. ???