Buy or Rent

[PNSRealtor]

First of all I was responding to a real estate question, not an aviation question. If you should know my husband is a navy pilot, in addition I know the pains of moving as a military spouse and I know the headaches of moving so if I can help others out with the process thats great. I also have vast knowledge on market trends. This reason for this forum is to help others out not to criticize them, you have your opinion and I have my real estate experience.

 

[PNSRealtor]

If that is the only real estate experience you have then I would let the real estate experts answer the real estate questions. By the way I was answering a real estate question not an aviation question.

 

[PNSRealtor]

by the way your website does not work :icon_wink

 

[FLYTPAY]

If that is the only real estate experience you have then I would let the real estate experts answer the real estate questions. By the way I was answering a real estate question not an aviation question.

The question was not a request for a solicitation. My ADVICE was directed towards young college graduates who have not purchased real estate before and who are looking to purchase in a place they will be stationed at for under a year. We look out for our own and quite frankly on O-1 pay, 99% of the time, purchasing property in Pcola when you will be there less than a year is not wise. You are asking for over-extension of credit or the possibility you cannot sell the Pcola property or buy in your permanent duty station market. (Please tell me you have been around for the sub-prime crisis) PS- I took real estate (req for licenseure in SC) in my undergrad business admin degree and have an MBA with investments as a concentration.....real estate happens to be an investment.

by the way your website does not work :icon_wink

It's not mine and....Gotcha

 

[cfam]

@FLYTPAY: I appreciate the help. After looking around in P'Cola this past week, I think I'm going to rent, at least until I get to my first duty station.

 

[PNSRealtor]

Yes ,I have been around the sub prime crisis, and I understand you are looking out for your own. My husband is a navy pilot, so I am in the same community as you. I was not looking for solictation. In addition, I graduated from the University of Sandiego with a BA, with a concertration in Real Estate. Also, my masters in Business as well. In addition I will be attending Stanford Law School Next year, hopefully to become a real estate attorney. I have been in real estate for years, and I have been an investor and done well with it. "Buy low and Sell High," Donald Trump.

 

[FLYTPAY]

My husband is a navy pilot, so I am in the same community as you

That is Naval Aviator. You are in the same community as me? That statement reminds me of "Knives Club" rank for some reason.

In addition I will be attending Stanford Law School Next year

L.i.b.e.r.............

 

[MasterBates]

Navy Wife =/= Naval Officer

Just one of 100 things that irk me about most knives club members.

 

[PCS Pablo]

Buying vs renting in P-cola Pace or Milton.

Same situation as the OP, new year. Anyone have any idea what the housing market is like in P'Cola now? Is buying still a good idea vs. renting? I did a search on the topic, but it seems to vary from year to year, based on the market. I'll be an SNFO, checking in early June.

Buying vs renting in Pensacola Pace or Milton? There are some deals out here right now. The market is still flooded with listings for sale and the inventory has trickled down into the rental market. The rental prices are still stable but easing down after the in 05-06 spike. There are a ton of properties going into forclosure and you can find some short sales. the difficult thing about short sales is you have to negotiate with the bank and the time to close is unpredictable to say the least. USAA is dropping policies once you leave and buy another home at your next duty station. I own some rental property and have shopped for insurance after USAA dropping me and have found comparable prices to USAA so that is not a big concern.

It is a buyers market and there are some loan programs in the area that are offering bond money for buyers assistance for first time home buyers. I do have some details on this topice but it is pretty involved.

Tax advatanges for buying...... You get to write off the interest on the property. If you own the house and rent it. You can write off everthing except the money you pay towards pricipal on the mortgage. That means taxes, insurance, any improvements and of course interest. Saved my @$$ on taxes.

 

[pourts]

The market is still flooded with listings for sale and the inventory has trickled down into the rental market.

Here's some anecdotal evidence for you: I have been living outside the back gate towards Perdido since Dec 07 and the rental and for sale inventory has only increased around here. In our development, about every 5th house has a for sale or for rent sign. More signs keep going up, and the only one that went down is the house I am in.

You may be able to get a deal on a purchase, or you could negotiate a killer lease because there are so many houses for rent.

The only definitive advice I would give is rent a house, not an apartment. With an apartment you won't be able to save as much of your BAH.