I am thinking of switching apartments this spring (April), but should I wait another 6 months (at April) and see if home prices drop even further? Maybe by then I might be able to buy a new condo if prices continue to drop. What does everyone think on this and what would you do in this situation? Thanks!
2006-11-29 02:30:22 · 4 answers · asked by aloneinga 5 in Business & Finance ➔ Renting & Real Estate
Please read the question...I do not currently live or own in a condo, I rent a small apartment right now and am looking to maybe buy a condo in the springtime...thanks. =)
2006-11-29 07:57:00 · update #1
I'd wait until spring to see how things settle out. Your best bet is to establish a relationship with a BUyer Agent now and let them stay on top of the market for you. Good Luck
2006-11-29 02:37:02 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I always have this advice for my customers in this situation:
If you are planning to keep the new condo for a while then it will probably make very little difference waiting. The point being...if the market comes down further so will the value of the condo you are selling so you will not gain any ground.
Here is some additional info. Hope this helps.
2006-11-29 04:24:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would make low offers on a bunch of properties now and see what sticks. Right now the Fed Reserve states that they will not lower interest rates in the near future; so right now is the time to buy while inventory is high and demand is low. Once, they figure out they are going to need to lower the rates it will cause another spike in prices; you don't want to be caught in the upward tick of the market and end up paying more than you would have if you bought earlier. You should just do your market research before you make an offer; check out previous sales prices to ensure you are not overpaying.
2006-11-29 02:42:39 · answer #3 · answered by tianaramal 4 · 0⤊ 0⤋
i think of that's a very sturdy factor. For years properties look to have risen in value for no obvious reason. that's certainly all the way down to furnish and insist. If persons are arranged to pay outlandish fees for accepted properties then fees circulate up. I nevertheless factor domicile fees are artificially extreme and as a result i do no longer think of that first time shoppers would be helped. Mortgages are harder to get because of the Northern Rock hardship. As to human beings already on the valuables ladder they only take a seat tight until the craze swings any opposite direction returned.
2016-10-13 08:39:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋