Now is the time to buy real estate

There has never been a better time to buy real estate for your own use or for investment purposes.
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December 27 2008 - Maple Grove
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Profile picture for javi30
the middle of 09 will be better then now,,,,,and the end of 09 even better then middle of 09!!!
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December 27 2008
I agree, although I do not believe that prices will drop significantly lower then they are at at this time.  Perhaps a bit lower overall, but the good deals now will be similar to the good deals through 09.
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December 27 2008
Hey, if you think they won't drop more, that settles it! I mean, why would someone look at things like
1. increasing foreclosures
2. increasing job losses
3. the highest number of vacant homes in history
4. a recession
5. option arms resetting next year
6. tightening credit, including lower fha amounts, income requirements, when ron douchette has a gut feeling! glad its going to be ok!

why worry about facts, trends or anything,
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December 27 2008
Location, Location, Location.  I've seen areas where the market is "hot" with properties that are priced within the neighborhoods sweet spot see multiple offers over the asking price.  It  is a great time to buy in these areas, but there's other areas that have the potential for further reductions.  It's important to do your homework
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December 27 2008
"location, location, location" is realtor speak for "i'm dumb"

Here is a news flash: if one location trades at a historical 50% premium to another, it will maintain that premium in up times and down times. If one drops the other will too, though it might take a bit longer. In economics, its called the 'principal of economic substitution' If a good restaurant costs $50, and  cheaper one cost $30, then the cheaper one discounts to $10, it will steal enough customers from the more expenisve one, to eventually force it to lower prices too. You might try reading up on something besides real estate gobbledy gook fliers
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December 27 2008
" its called the 'principal of economic substitution' If a good restaurant costs $50, and  cheaper one cost $30,
then the cheaper one discounts to $10, it will steal enough customers from the more expenisve one"
That is why we see so many buyer at lower end market right now.
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December 27 2008
Profile picture for sunnyview
I do not agree. Times are unstable and prices are still dropping. People should not buy now unless they can keep the property as a positive cash flow rental with room to spare on the expense side for further drops in the rental market.
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December 28 2008
Profile picture for jamhie
The Mortgage payment alone is still too high.

Have to commit to an 30 years of payment.

If you get lay off, got Sick or got some accident then you will probably lose your house.

And how much money you can Save after the Mortgage payment?? after all other expenses ??  And this still dont include the cost of future Kids expenses, Educational cost and etc..

The house price in the past 3 to 4 years is running in an Dream World.
Even now the price is still Ridiculously High.
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December 28 2008
Profile picture for klarek the realist
" There has never been a better time to buy real estate"

Haven't heard that before.  Wait, I have heard it every day:

-In 2004 when houses had just doubled in value over the previous five years.
-In 2005 when houses in my area shot up another 20% in value in just a year
-In 2006 when the market peaked.
-In 2007 when prices started coming down a little bit, but had a long way to go
-In 2008 when it was painfully clear that the market will come crashing down hard on anybody that is in it

Welcome to 2009.  Still the best time to buy!  Oh, and your little prediction that prices won't go much lower is the same crap I heard a year ago.  You're offering an opinion based on NOTHING.  That is as bad as lying.

Do you agents even bother reading our forums before posting this crap?  There is not a single zillow user that is stupid enough to believe a word you say.  It's become a complete laughing joke that RE agents always say it's the best time to buy.
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December 28 2008
Profile picture for jamhie
Banks already have announced they will cut hundreds of thousounds jobs in america over the next 2 years.

And add to GM Job Lost will send an shock wave in the united state.

an 2family house thats priced $550k now, it will drop to $450k next year then it will drop to or below 350k in 2010. 
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December 28 2008
 
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Related Discussions
Now is the time to buy real estate
Profile picture for jamhie
Latest reply by jamhie
December 28 2008 | 10 answers
  • Posted by Ron Touchette
  • In Investing
  • December 27 2008
Mortgage Rates
 
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