how long should I wait to buy a house? next year, or the year after that?
2006-08-14 16:22:33 · 11 answers · asked by slippped 7 in Business & Finance ➔ Renting & Real Estate
the markets cooling down, wait about a year
2006-08-14 16:29:57 · answer #1 · answered by -*{P}rincess;;<33__ 3 · 0⤊ 1⤋
yeah the boom is over for now.. well from seeing trends, we probably won't see another boom in another few years. but it is definately cooling off and yes it is now a buyer's market for most part, depending where you live.
i personally wouldn't wait, you can get a good deal now. if you need a house now, then go for it.
but if you are still wanting to stay with your parents or a be a roomate and pay $600 rent a month, thats still a good deal too. If you are starting to pay more than $1000 rent monthly, I would advise you to get your own place and start building up your equity. i am speaking california prices btw...
interest rates, you can never predict. everyone was thinking rates were gonna go up and up this summer. but for the past couple of weeks it has been cooling off.
2006-08-14 17:23:24 · answer #2 · answered by socalrider81 3 · 0⤊ 0⤋
If you are buying for the long-term, there is no reason not to buy now- if interest rates go up again you'll wind up paying more. Why continue to put money into rent? The exception would be if you live in a very speculative market and really think things will fall- but in most places, home prices seem to be stabilizing to a point of low growth or holding steady. Either situation is okay for you if you are going to buy and sell. Just don't buy and expect to flip it and make money.
2006-08-14 17:36:00 · answer #3 · answered by QandAGuy 3 · 0⤊ 0⤋
Regardless of when you buy you ARE paying a mortgage. You are either paying your own or someone else's.
If you are in a market where the population is growing and unemployment is under 5% you should make your move sooner rather than later.
It is very unlikely that home values will drop in a metro area that is growing in population and has a solid employment base. In addition, mortgage rates are at historical lows and you carry a certain amount of interest risk by delaying a purchase.
Unless you're credit score is below 660, or you are in a market with poor population and employment trends you should buy now.
2006-08-14 17:01:58 · answer #4 · answered by HMMMMMM 3 · 0⤊ 0⤋
If anyone knows the answer to this, they must be a psychic... there are so many factors to consider such as the interest rates which can change anytime, the political climate, the economic situation of the country, and whether we're in wartimes or peacetime which is anyone's guess for a while.
2006-08-14 16:48:11 · answer #5 · answered by 1Jazzy1 3 · 0⤊ 1⤋
i've got faith that the genuine sources industry is in intense kit around the finished bay county section. that are maximum of latest shape happening. i've got faith that's basically going to get greater.
2016-09-29 06:57:32 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Yes its over....depending on where you live,you may see the price of new home drop.But,I wouldn't wait if I were you
2006-08-14 16:29:05 · answer #7 · answered by Joe P 4 · 0⤊ 0⤋
A few years!
For some great 'insider' articles on the San Diego real estate market, which I believe will apply to any of the hot real estate markets of the past five years.....visit:
http://www.brokerforyou.com/brokerforyou
http://www.downtown-san-diego-real-estate.com/san-diego-real-estate-article-index.htm
http://www.brokerforyou.com
http://www.san-diego-for-sale-by-owner.com
http://www.la-jolla-ca-del-mar-san-diego-real-estate-encinitas-california.us
http://www.brokerforyou.com/blogger/index.html
http://san-diego-coastal-real-estate.blogspot.com
http://sandiegofsbo.blogspot.com
http://downtown-san-diego-real-estate-views.blogspot.com
http://san-diego-coastal-real-estate.blogspot.com
http://sandiegofsbo.blogspot.com
http://downtown-san-diego-real-estate-views.blogspot.com
http://www.brokerforyou.com/san-diego-real-estate-sales.html
http://www.poway-real-estate.info
http://www.del-mar-real-estate.info
http://www.la-jolla-real-estate.info
http://www.los-angeles-real-estate-brokers.com
http://www.san-jose-real-estate-brokers.com
http://www.orange-county-real-estate-brokers.com
http://www.san-francisco-real-estate-brokers.com
http://www.sacramento-real-estate-broker.com
2006-08-15 20:07:13 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I THINK WHAT THEY CALL THE SELLERS MARKET IS OVER ,BUT HOUSING WILL FOREVER BE STRONG,PEOPLE NEED THEM
2006-08-14 16:27:36 · answer #9 · answered by Anonymous · 1⤊ 0⤋
no, its midstage!
2006-08-15 06:56:34 · answer #10 · answered by Piffle 4 · 0⤊ 0⤋