Or it's just a matter of time before inflation again? I am hoping that they continue to fall for the next couple years when we will start looking into home ownership.
2006-11-17 20:43:11 · 8 answers · asked by suekiemama@sbcglobal.net 2 in Business & Finance ➔ Renting & Real Estate
Fall from what? Ho yea over inflation. I say that home price will drop to 40-60% of what they were last year. They really are not dropping they are correcting. From what you may ask a over inflated bubble that was made. Hear is how they made it.
http://www.breakingbubble.com/index.htm
2006-11-18 03:40:06 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Has the housing market bottomed out or not? This is the current big question.
Given that the US economy is cooling, and the housing market is also cooling, it's likely that prices will continue to fall for at least the next 6 - 12 months. While good deals are available now, it really depends on what area in the US you are talking about, and whether you can really afford any "great deal" that you spot.
The biggest issue is whether you are ready for home ownership. Do you have a decent sized downpayment ready? Is your job relatively secure? Do you have a spouse who also has a relatively secure job? A great way to build wealth is to own your own home, but you need to be prepared to stay put if the market turns against you. That means you have to be able to handle the payments you would pay now. And if the only way you could get into the market is to get an "exotic" loan, like an interest-only loan, it's definitely not the right time to buy! These kinds of loans are not the good deal they are made out to be -- and are responsible for a reasonable percentage of the current foreclosures.
2006-11-18 02:28:53 · answer #2 · answered by Anonymous · 0⤊ 0⤋
why wait for 2 yrs to buy---now is the best time ever--our house has been on the market for 15 months, price is below appraisal,
it is a 2 story contemporary style 3 bdrms, 2 1/2 baths, lots of windows, corian kitchen with cherry wood cabinets, open 2 sty entrance, see-thru fireplace, neat house for entertaining, corner lot, 2 car gar, fenced yard, alarm system, loaded with ceramic tile, all builder grade lights and fixtures have been removed and upgraded. its in the park hill school district. close to the airport.
close to zona rosa shpg ctr. what are you waiting for. now is the time to buy-----we would love to buy now--here in the midwest prices on homes are declining. even if you lose some money where you are now you can gain it in another home. call your realtor today and start looking now. don't wait. remember home ownership interest if the only thing we have for tax returns anymore.
2006-11-18 01:12:50 · answer #3 · answered by lake living 5 · 0⤊ 0⤋
it will fall, but it will not be like this for several years. If you come to the midwest, it is oversaturated with new homes with no buyers. The housing boom is dead, mortgage rates better go down to start it up again.
If you look for foreclosed houses, then it is the perfect time to get those. Much more homes coming to market due to foreclosure now.
2006-11-17 20:55:15 · answer #4 · answered by buddhaboy 5 · 0⤊ 0⤋
contained in the united kingdom residing house fee will keep on with its call for and inflation. because of restricted land and severe expenditures of creating supplies. residences and residences are necessary area of our time-honored of residing.. there'll continually be call for for residences. So residing house fee can't proceed to fall yet in truth could upward push in time. the numerous issue now might want to be the credit crunch. Which the banks and the authorities ought to look into heavily. Banks could finished their write downs on their mortgages losses. locate extra capital and restructure their modern-day company structure, their lending quidelines and banking structures to get on with their employer. the authorities must be extra vigilant with its regulatory duty and supervision on Banks to ensure there is not repeat of the Northern Rock crumple it really is the worst contained in the heritage of British Banking. the present adverse idea of Banks by way of their purchasers is a best difficulty contained in the banking market. Banks could restore and regain their purchasers self assurance and the exceptional cases, the position bankers are dealt with with observe of and depended on as a custodian of people's funds and purchasers can get the finest banking facilities with none doubt. And for goodness sake, those banks that are resorting to 'short sales' of their distressed loan purchasers, to give up such practices and picture of procedures to assist those purchasers from dropping their residences
2016-11-29 06:04:08 · answer #5 · answered by ? 4 · 0⤊ 0⤋
I think you will see this slow down for about 1-2 years and then things will start to pick up again.
I think it is a great time to find some good deals.
Matt
http://www.diversifiedlender.com
http://www.homemortgageminnesota.com/
http://www.refinance-second-mortgage.biz
http://www.minnesota-mortgage-rates.net
http://www.realestateagentlive.com/
2006-11-17 23:56:28 · answer #6 · answered by Matt J 3 · 0⤊ 0⤋
yes but the problem is if it falls to hard people that have homes that try to sell will lose money
2006-11-17 20:51:00 · answer #7 · answered by paki 5 · 0⤊ 0⤋
Sorry I don't have the answer,anyway THE WITCHDOCTOR IS A COMPLETE STUPIDASS!I mean really go annoy the hell out of somebody else you little bastard.
2006-11-17 21:01:51 · answer #8 · answered by Anonymous · 1⤊ 1⤋