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Are home prices on the rise? Is it a good time to buy?

My Fiance and I are looking to buy a home but have started to notice a trend in house prices. Is the price of homes increasing?
  • August 07 - Burien
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Answers (8)

Prices have been rising, whether they'll do so in the future is a crystal/8-ball type of question.

I think that houses will only get more expensive, and if you have good credit and steady income and decent savings and the desire to stick in the neighborhood, I think buying is a good idea.

  • August 09
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Yes the prices have been increasing, but don't be mislead by the press reports.  The press almost always reports the median price of all houses rather than the median price of non-distressed houses.  The former is more volatile and will indicate a higher rise in price than what is really occurring.  Also, not all areas have gone up as much as some.

That said, what is harder today is finding a house that is a real bargain.  Even bank owned properties tend to sell for closer to fair market value.

As to whether it's a good time to buy that will depend largely on your own personal circumstances and what house you can find.  Whether prices will go up or down from here is anyone's guess.
  • August 09
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Yes, to both of your questions. Here's a link for you to check out what homes are selling for and how quickly in any given city. www.federalwaypropertyvalues.com our market is on the upswing!
  • August 09
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In my area, we had a super hot rising market last year. This year prices are still rising but it is slowing down. However, I've noticed people on here in markets much different than ours.

Market trends are regional and local. Like Dennis said, a home purchase is always a good idea if you're trying to find a place to live your life. Over spans of time, Real Estate always goes up in value.

I just read an email from one of our Regional managers about a recent report from the fed. It boils down to this:

·       The average American family has a net worth of $77,300

·       Of that net worth, 61.4% ($47,500) of it is in home equity

·       A homeowner's net worth is over thirty times greater than that of a renter

·       The average homeowner has a net worth of $174,500 while the average net worth of a renter is $5,100

  • August 07
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Go to the Local menu tab above.
Enter the neighborhood that you are interested in into the search field.

You'll find the Home Value trend graph there.  the trend started in 2011 and has been pretty steady since then.
  • August 07
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As long as you are comfortable with the home and it meets your needs and price concerns then you should buy. If we look back in history real estate is always going to increase over time. My mother -in-law purchased her home for $6,000 back in 1976 and sold it for $150,000 at the bottom of the market a few years ago. There are very few investments that can provide that type of a return as consistently as real estate. The bottom line is if your buying it as an investment then be prepared to hang on to it to reap the rewards. Real estate is not a get rich quick scheme it's a get rich over time strategy.

  • August 07
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It depends on where you're located and the market sector. Real Estate is local in nature and as such market conditions strongly vary. Here in South Florida prices have been rising for a few years already but I can't say the same about every metropolitan area in the country.
  • August 07
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Hi, 

Prices fluctuate in all markets. It's a good time to buy when you are ready and can afford the home. 
  • August 07
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