2007-08-29 05:00:40 · 8 answers · asked by chik_nice 2 in Business & Finance ➔ Renting & Real Estate
if you're a seller and need to do so within the next couple of years ... rush to do it asap
if you're a buyer ... wait until after prices are down the most [until they start going up again, or at least sideways], until after the cause of prices falling is over (not yet -- maybe 2009), and then check the trend of interest rates ... if they're falling you maybe wait some more. [Interest rates would fall if the Fed is trying to ward off a recession.]
don't buy yet
2007-08-29 05:09:00 · answer #1 · answered by Spock (rhp) 7 · 0⤊ 0⤋
If you get the news regularly, there will be articles telling you that the housing market is not doing well. The news is that there are a lot of homes on the market right now. It is not a good time to sell. Many think that it is a good time (or will be a good time) to buy soon.
2007-08-29 06:04:02 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Read the newspapers. The housing market is in a real downturn right now and is expected to be that way for at least the next year. Prices are going to be going down as much as 20 to 30% on houses in the next year in order for folks to dump them. Now is not a good time to sell a house but it would be a good time to buy. The buyers are definately in the cat bird seat.
2007-08-29 05:10:33 · answer #3 · answered by Don 5 · 0⤊ 0⤋
It really depends on where you are. There are pockets of activity (or lack of activity) all over the country. You really need to look very closley at your specific neighborhood.
I'd strongly recomend asking for professional help. If you simply read your local paper or info on the web, you may not get accurate info for your personal situation. Because of the media coverage, most mortgage brokers and real estate agents are more than happy to offer you advice - a lot of the time for free. The though is that if they advise you now, you will return to them when you are going to refi, purchase, or sell. I'l like to help you personally, but unless you are in WA even I won't have the best targeted info. Talk to a few local people and pick the one you feel the most comfortable with.
2007-08-29 06:07:39 · answer #4 · answered by Chris 6 · 0⤊ 0⤋
a lot depends on your area. do not just read the newspaper, just when did they know the market???? go to your courthouse and look up 3 or 4 sales in a certain area compare them in same size and construction. then look at the same type a year ago see if they went up in price at least 7 %. if not it is a falling market or unstable at the least.
2007-08-29 05:38:28 · answer #5 · answered by k man 3 · 0⤊ 0⤋
If you read the local section of your newspaper they are commenting all the time on the condition of the housing market and whether it's a "buyer's market" or "seller's market."
2007-08-29 05:08:30 · answer #6 · answered by ♫ Sweet Honesty ♫ 5 · 0⤊ 0⤋
well it's not doing well now. more sellers than buyers. more forclosures than ever.
lending institutions gave money to every tom dick and harry and they can't pay now.
if you have the money now would be the time to buy. you can probly offer less than what the asking price is to a motivated seller and they will take it.
2007-08-29 05:09:49 · answer #7 · answered by nataliexoxo 7 · 0⤊ 0⤋
Read, newspaper or online voraciously read the business sections. Please take the time to educate yourself, see market trends, know what is happening. The information is out there you just have to read it, and compile it
2007-08-29 10:47:10 · answer #8 · answered by Pengy 7 · 0⤊ 0⤋