i've never lived in Seattle before, is now a good time to purchase a house in the area, or should i rent for a while before buying? would the real estate market drop even further? how bout the mortgage rate?
2006-12-10 19:53:11 · 4 answers · asked by walterthewell 2 in Business & Finance ➔ Renting & Real Estate
i rented and talked to everyone
my finance people said some of the little islands are nice..
i was at the north end first (shoreline)..and then south.(renton). i liked them both.
good luck..
and i had no problem leaving either area..but that was 2003
2006-12-11 01:32:23 · answer #1 · answered by m2 5 · 0⤊ 0⤋
Seattle is an awesome place to live. If you have never lived there, I would rent first so you can get a better feel of the area. Ask others that live in the area what are the bad areas to live in so you don't buy a house in that area by mistake. If you have children, then research the schools to find out where are the best schools. The longer that you live there, the more you will find out information about the area. I would say to rent for 6 months first before buying. I just moved to Mississippi 3 mos ago. I live about 10 min from Memphis and did not get a chance to really find out how the area is. Now that I have closed on my house, I am finding out that this area is not good at all. It looks great, but to close to Memphis and gangs are sometimes seen where I live. I would definitely research first!
As for the market, I do not see it going anywhere for awhile. It is a buyers market right now, so if you do decide to buy a house make sure that you give a low ball offer. If they want to sell bad enough then they will take your offer into consideration. My house that I just bought was listed at $249,000 and I picked it up at $204,000. I was lucky enough to have a seller that really had to sell it. Hopefully some of my information will help you out a little. Well I hope that you enjoy living in Seattle and Good Luck!!
2006-12-10 20:10:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I think the housing market is going to drop more...I remember reading about how it will be steadily declining in the next 2-3 years. However, Seattle is always expensive. Are you looking at moving into the metro area, or have you checked out the surrounding suburbs? Unless I've done a lot of homework and can kind of get a feel for the trend there, as well as know what I can afford right now, I'd rent.
2006-12-10 20:09:32 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Rent first for 6 months and afterward you will be more familiar with the area you can buy something. Prices will not go up very much and you always can find someone who wants to sell the house ASAP.
2006-12-11 04:42:29 · answer #4 · answered by Isabella789 4 · 0⤊ 0⤋