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Answers (8)
- JB Fung, "JB Fung"
- Contributions:14
You should buy when you find a house that you love and can afford. The market will fluctuate for and so will interest rate.
Good luck,
- Renee Kische, "ReneeKische"
- Contributions:46
It's ever so hard to time the market. With interest rates low and several niche neighborhoods flat on pricing, the timing is as right as ever. You really should ask yourself, "how long will I be inteh property?" We know that real estate is the turtle not the hare so, time will build your equity!
- Dan, "the_country_hick"
- Contributions:4700
Read the links below. It should help you to get a better feel for the answer to your question.
This shows what happened to house prices.
Do you know what the housing bubble really looks like? ... - Zillow Real Estate Advice
Who will buy the homes of tomorrow? 2010 highest average monthly foreclosure filings on record. 330,000 average monthly foreclosure filings in the United States. Student loans and stagnant job growth will create anemic prospects for housing. | Regator
An Awful 2011 Could Crush The Middle Class Dream Of Home Ownership
This is probably more in line with your precise question. Look at the whole article as it shows some things that could make this a very long drawn out process of dropping house prices. Do not forget that japan had lower house prices every year for a decade. It could happen here.
Healdsburg Housing Bubble: Reset Chart from Credit Suisse has a Major Error
Even with all of that if you can figure out what house prices were in 1997 adding about 35% for inflation and find a deal it might be a good time to buy now. Normally the decent deals are the foreclosures or short sales.
This shows what happened to house prices.
Do you know what the housing bubble really looks like? ... - Zillow Real Estate Advice
Who will buy the homes of tomorrow? 2010 highest average monthly foreclosure filings on record. 330,000 average monthly foreclosure filings in the United States. Student loans and stagnant job growth will create anemic prospects for housing. | Regator
An Awful 2011 Could Crush The Middle Class Dream Of Home Ownership
This is probably more in line with your precise question. Look at the whole article as it shows some things that could make this a very long drawn out process of dropping house prices. Do not forget that japan had lower house prices every year for a decade. It could happen here.
Healdsburg Housing Bubble: Reset Chart from Credit Suisse has a Major Error
Even with all of that if you can figure out what house prices were in 1997 adding about 35% for inflation and find a deal it might be a good time to buy now. Normally the decent deals are the foreclosures or short sales.
- Charlene Johnson, "Charlene A Johnson"
- Contributions:6
I have been in the business since 1988 and I have never seen the market this low as well as the rates. Two years ago couples could not qualify for any homes in the area because they could not qualify for them.. Now those same couples can buy in town and in the neighborhood they really wanted to two years ago. If you want to buy a house DO IT Now! Do not wait for the market to go up and the rates!
- William Metzker, "MrLiam"
- Contributions:210
It depends on your reason for buying. If you're buying a place to live for a few years, to have as your own and do whatever you want, then it's a pretty good time to buy. The downside is that there isn't that much out there. Still, interest rates are creeping up. Would you want to hold out for the last possible dollar and pay a higher interest rate>
If you're buying for an investment and you're not a professional, you should probably contact a financial advisor.
If you're buying for an investment and you're not a professional, you should probably contact a financial advisor.
- Michael Dolan, "BrokerPro"
- Contributions:277
If you let the "market" decide when you buy, you concede control over an important decision to something no one knows.
Decide what you want to do. Then execute that.
While prices may still go down in the future, interest rates will definitely go up.
In my experence, when people wait for the "bottom," more than half the time they miss it.
Good luck.
Decide what you want to do. Then execute that.
While prices may still go down in the future, interest rates will definitely go up.
In my experence, when people wait for the "bottom," more than half the time they miss it.
Good luck.
- sunnyview
- Contributions:25139
The market in Aloha still has corrections to make based on income vs historical values here. Oregon peaked later in the housing bubble and it will keep correcting for a little while.
You don't need to buy at the bottom of the market or wait for years to get a good deal. Take the time to get to know your local market, rents in your area and watch to see which neighborhoods seem most resistant to drops. Make sure the you are ready to buy at any time since even in a falling market, you may find a reasonable buy.
This market is about seeking value and about trying to keep your PITI as close to rent as possible so you can invest long term and know that the house will never be a financial burden.
You don't need to buy at the bottom of the market or wait for years to get a good deal. Take the time to get to know your local market, rents in your area and watch to see which neighborhoods seem most resistant to drops. Make sure the you are ready to buy at any time since even in a falling market, you may find a reasonable buy.
This market is about seeking value and about trying to keep your PITI as close to rent as possible so you can invest long term and know that the house will never be a financial burden.
- Sharon Lewis, "Sharon Lewis"
- Contributions:3923
Depends on your market, all signs are picking to our market in Raleigh Durham, Cary as a market picking up. And there is a lot of signs in other parts of the country pointing to the same. Interest rates also looking like they are heading upwards. So how is your market,have you spoken with a Realtor. If you need a referral, click on my name and email me. You might also speak to someone who is writing loans and ask them how they feel the market is . How exciting for you that you are going to purchase!
should I buy a home now? february 2011 or wait. when will market stop falling? 2012? 2013?never?
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