We live in Delaware and are looking to buy a home next Spring. I have been reading in the news that home prices are going to be going down. Is this true? Also when can we expect the prices to become reasonable again?
2006-10-18 11:26:55 · 7 answers · asked by saratgoo 3 in Business & Finance ➔ Renting & Real Estate
If some one could honestly answer this question, they could make a fortune. Sadly, the only thing that anyone can say for certain is that prices are pretty much where they will be for a while. Sure some of the over-inflated prices will drop down towards their real "values", but as far as housing becoming "reasonable", don't count on it. The prices that were being asked and paid for five to ten years ago are just a thing of the past. Unless a major recession hits and there are a lot of foreclosures, it is very unlikely prices will drop lower than where they are now.
If you are wanting to wait a year to buy, do so but shop around when the time comes.
2006-10-18 12:17:33 · answer #1 · answered by CMR2006 3 · 1⤊ 0⤋
Yea the prices are already dropping in fact Realtors that keep trying to spin the market are just looking like fools and losing what little creatable they have left if there is any to began with. The truth of a breaking bubble is self evident. As some one who want to buy check out this web site and know how the bubble was made.
http://www.breakingbubble.com/index.htm
2006-10-18 17:06:02 · answer #2 · answered by Anonymous · 1⤊ 0⤋
reasonable home pricing is a relative concept that hinges on the principles of economics, mainly supply and demand. yes, prices have started to decline; and with mortgage rates staying pretty low, you can expect home prices to increase beginning 2007. if interest rates continue to rise, then home prices will soften even further.
if your area in delaware is a "hot" market, don't expect prices to fall any time soon. it's like that here in southern california.
2006-10-18 11:35:41 · answer #3 · answered by loveholio 5 · 0⤊ 1⤋
In areas that have seen multiple years of double digit appreciation...yes. There will be a good pull back (southern Fla, and parts of Southern Cal). Many areas will see a flattening....no rise...no fall...very little activity in general. This is not a surprise...in fact it is cyclical (happens periodically) and will happen every time we have a real estate bull market come to a close.
2006-10-18 12:26:43 · answer #4 · answered by Anonymous · 1⤊ 0⤋
My advise to you is to buy during November or December....These are the off season for selling and sometimes you get desperate sellers wanting to sell cheaper....Spring is the high season and you will be paying retail....In my area they are stable, but there is an oversupply right now, do to it being the off season for buying....
2006-10-18 13:20:40 · answer #5 · answered by Anonymous · 1⤊ 0⤋
sturdy success...Housing expenses are plummeting... We presented a 1350 squareft. dwelling abode with a three vehicle storage & finished basement, in a useful precise primary area, for $80,000 2 yrs interior the previous... we live in mid-north Indiana, choose that helps...
2016-11-23 18:27:20 · answer #6 · answered by frandsen 4 · 0⤊ 0⤋
They are coming down...
2006-10-18 11:29:34 · answer #7 · answered by Anonymous · 0⤊ 0⤋