I am located in VA. I heard that market here is going down. Should I wait for some more time for the property market value to go down more or what?
2006-10-06 02:32:39 · 11 answers · asked by honeyscoob 1 in Business & Finance ➔ Renting & Real Estate
You should wait another year...Those inst only loan will soon expired...people are going to change the terms...at that time, inst rate may higher, but house price will be lower...you may get higher inst rate and pay additional principal each month to reduce your total inst over the year...you will still make it good...
2006-10-12 16:42:06 · answer #1 · answered by Mimi 4 · 1⤊ 0⤋
This depends solely on 2 factors Long term or Short term holding period?
If the answer is a short term hold ( less than 5 years ) the answer is wait because we have not reached the bottom of the slow cycle (just getting started). There are still a few markets that will ingore this and will do well over the next few years (Jacksonville) because they are still well below the rest of the market but in large...short term investors should be cautious.
If the answer is long term then the answer is BUY because real estate is always a good investment over time.
2006-10-12 09:36:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I agree with Raquel. I live in Northern Virginia and prices have dropped a bit from their highs of a year ago. However, the stock market is booming and the job situation in this area is excellent, so there will be lots of buyers for houses in the future. If you see a place you like, jump on it and see if you can squeeze some concessions from the seller. You'll feel like a financial genius in five years.
2006-10-06 02:41:47 · answer #3 · answered by pvreditor 7 · 0⤊ 0⤋
ahhh, the neverending question... Whenever YOU are ready to buy is when it is the correct time for you to purchase. Do not let life dictate this for you. Is your credit in order? Do you have some money saved? These factors are more important for a place you plan to live in. Real Estate, especially in Virginia, will always appreciate over the long run. Your question is more relevant if you are buying an investment property. Good luck!!
Here are some good articles:
http://www.choicefinance.net/mortgage-articles
2006-10-06 09:56:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It is a wonderful time to buy. The invetory on new homes is the highest it has been in a long time. Also seller's are super motivated to sell. You can come up BIG if you buy now. If you like to gamble wait. I think the real estate bubble has been poped and it is going to start coming back up very soon. Real estate is the safest investment you can make.
2006-10-06 15:57:09 · answer #5 · answered by karrie r 2 · 0⤊ 0⤋
I certainly have lived in Seattle for 2 a protracted time now. It relies upon on the place you desire to stay and how long you will stay right here yet over a 5 year era, housing fees have not long previous down in Seattle. The housing industry remains doing notably properly as detrimental to different enormous markets. we haven't considered the comparable downturn. Seattle will proceed to enhance and could proceed to work out extra effective days. If it have been as much as me and that i develop into going to be staying in Seattle for a at an identical time as, i could purchase now. additionally relies upon on the community or area which you're stepping into because of the fact in countless the suburbs you will locate some good deals at lifelike fees. in case you try to purchase in downtown Seattle you won't be waiting to locate great deals because of the fact some many everybody is attempting to stay on the brink of the city with gas fees, and so on. back if it have been me i could purchase in Seattle. you will locate some smokin' deals which will actual pay off.
2016-10-02 00:16:31 · answer #6 · answered by lavinia 4 · 0⤊ 0⤋
I think you should wait 4 to 6 months and then buy cause the prices are going down and i think they,ll keep going down until the end of the year but after that Im sure they"ll go right back up.
but it seems definate you'll save a few thousand if you wait a couple of months.
2006-10-11 18:11:52 · answer #7 · answered by shana m 1 · 0⤊ 0⤋
I agree that waiting is not always the best answer. Buy low, sell high, right? If you can buy a home under-market and ride out the storm for a few years.
2006-10-06 03:15:41 · answer #8 · answered by Justin 3 · 0⤊ 0⤋
Even if property values do go down, interest rates might rise. Satisfy yourself that you are getting a good deal now and start taking your tax-write offs.
2006-10-14 00:20:32 · answer #9 · answered by Barbwired 7 · 0⤊ 0⤋
Get it now! Delay is danger. You really can't go wrong when it comes to real estate. If you wait someone is going to come along and buy it right from under you nose.
2006-10-06 02:35:48 · answer #10 · answered by RACQUEL 7 · 0⤊ 0⤋