Zillow Advice: Home Buying - Have we passed the best time to buy a house ?

Nice going doug comparing ...

Wed, 08 Jul 2009 19:05:00 GMT

Nice going doug comparing buying a house to buying a dog. Or having a child to buying a house or dog! How about you buy a home if you can afford it by traditional standards AND your job is at least risk of getting the axe?

I just purchased in Aloha, ...

Wed, 08 Jul 2009 18:51:00 GMT

I just purchased in Aloha, Oregon and I know everything is local but what I see is homes on the low end of price range goes fast things above 275k seem to be sitting a lot longer and I think prices have come down enough for the people who were priced out during the boom.

The best time to buy a house? ...

Wed, 08 Jul 2009 18:30:00 GMT

The best time to buy a house? Is there a best time to buy a dog or have a child? The best time to buy a house is when it fits your need and you choose to make that lifestyle change. If you wait to see what is going to happen or constantly reflect what did happen, you will probably never buy a house, or a dog, or have kids. Hire a Realtor, get educated on the process and go for it. www.bettercalldoug.com

However, I agree that there ...

Wed, 08 Jul 2009 16:55:00 GMT

However, I agree that there is no bad time to buy a house.

There were these years from 2005-2007. They were a pretty terrible time to buy a house.

They keep waiting for the market to "hit bottom". Unfortunately the only way to know when the market has hit bottom is when prices start to go up! So when that happens you've missed your opportunity.

Actually what happens is it'll stay flat for years.

Home prices in the San Francisco East Bay have risen from a median price $300k to $375k since their low in March.

Median is a nice stat, but it can do things like that based on they types of houses sold and be completely meaningless. Show me Case-Shiller numbers doing that and I'll be impressed (then immediately start shorting whoever is giving out those loans.)

The best time to buy the ...

Wed, 08 Jul 2009 16:10:00 GMT

The best time to buy the home in City of Los angeles, CA was 6 to 3 month ago, It's not good time to buy now, since there are not many houses on the market, maybe it will be a good time again at early next year.

Oh so you pros are saying ...

Wed, 08 Jul 2009 16:07:00 GMT

Oh so you pros are saying there will a housing bubble v2.0 soon? GREAT!!! My house ATM is depleted and I need more money for a new hummer and my wifes fun bags need a facelift. Thanks for having the crystal ball we all thought that was lost!

Home prices in the San Francisco ...

Wed, 08 Jul 2009 16:02:00 GMT

Home prices in the San Francisco East Bay have risen from a median price $300k to $375k since their low in March. This is $25k per month. What is driving these prices? Supply. For example, in Alameda County supplies of available homes have dropped from their high of 12 months to just under 2 months supply at the end of June. More people can afford homes now then in years past. More buyers are taking advantage of low home prices and interest rates. Even though I don't think we will continue to see $25k per month increases every month, I do believe that home prices are on the rise and recovery is under way.

With the low interest rates of today, now is a great time to buy.

More Bay Area stats...

I have a buyer from New York ...

Wed, 08 Jul 2009 15:48:00 GMT

I have a buyer from New York who's purchasing a house here in Austin Texas. They keep waiting for the market to "hit bottom". Unfortunately the only way to know when the market has hit bottom is when prices start to go up! So when that happens you've missed your opportunity. If you're able to buy now with rates as low as they are go ahead and buy if you find that great house. Is it worth missing that opportunity to save $50 on your monthly mortgage? Probably not...

It depends on what you are ...

Wed, 08 Jul 2009 14:30:00 GMT

It depends on what you are looking for? Banks should be stepping up their foreclosure process soon, as they tried for several months to process short sales rather than foreclosures. A flood of foreclosures will definately impact the market, but REO (bank owned) properties usually require more work and can be harder to finance depending on their condition. However, I agree that there is no bad time to buy a house. If you are planning to live there for any length of time, at least your monthly payment goes toward the balance of your loan rather than into the pockets of the apartment complexes.

If you have no money, is ...

Tue, 30 Jun 2009 22:49:00 GMT

If you have no money, is it the best time to buy (anything)? All these posters asking if they can buy a home with no down payment, poor credit, you name the crud, and all they can focus on is buying a home cause they think they need to jump cause prices are lower. If it means your going to be strapped you shouldn't buy anything just cause you perceive it to be a great price. Such a narrow focus is going to make create another wave of has been owners who should have never jumped into homeownership.

.......like the owners across the street whose landscaping needs help and paint is peeling all over the place.......can't afford to take care of something you shouldn't be owning it.......