I am wanting to buy a house in the next year or so, we were trying to buy one recently but found out that we have to build our credit more. Is the the proerty value going to go back down again or is it just going to keep going up? Im worried that I wont ever be able to afford one if I dont buy now!
2007-04-10 08:45:21 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
It's going down as I type...
2007-04-11 19:44:37 · answer #1 · answered by SndChaser 5 · 0⤊ 0⤋
If anyone could answer this question correctly, they'd be a millionaire.
The housing market has trended upward since 1995 and is now trending down to level. Where it goes from here is anyone's guess.
Remember, housing in one area can go up while it goes down in another, so the trends are just averages.
It's usually the best policy to get into the market as soon as you can. Even if things drop, they have always turned back around.
2007-04-10 15:54:05 · answer #2 · answered by Joe L 4 · 0⤊ 0⤋
Depends where you are in California.
Areas outside the city centers are typically slower to recover from price corrections. The central valley and high desert regions have taken hits from 2005 value highs.
Mid to upper end homes in Silicon Valley are still gaining equity. Condos in Silicon Valley and less desirable neighborhood single family homes are slightly dipping or remaining stable.
It might be easier to answer your question if you were able to provide a smaller geographical area than California ;-)
2007-04-10 16:00:51 · answer #3 · answered by KConsults 3 · 0⤊ 0⤋
your should wait and build you credit, prices will go down and if you build you credit you could have the seller pay for closing cost.
2007-04-10 15:59:23 · answer #4 · answered by zarate_985 1 · 0⤊ 0⤋