There are so many foreclosure and for sale signs in my immediate neighborhoos .. folks are tring to get to get out of mortgages they can no longer afford. i was wondering if this is actually agood time to buy properties? since the prices seem to be a little cheaper and buyers want to unload at almost any price. is it worth taking a financial hit now and hoping to resale later?
2007-09-11 08:41:01 · 3 answers · asked by miacrash 4 in Business & Finance ➔ Renting & Real Estate
It is probably even better to wait a few more months THEN buy - - the prices are still going down, down, down!
2007-09-11 08:46:13 · answer #1 · answered by nova_queen_28 7 · 0⤊ 0⤋
Don't expect there to be this giant rebound - so flipping is probably out of the question. Keep the house for 5 or 10 years and you'll have made a great investment!
Prices are down and there's a lot on the market because of foreclosures, but also because banks aren't handing out loans like candy anymore. That's what caused these foreclosures in the first palce.
It may be a good time to buy, but you also may not be able to get financed. Good luck with anything less than a 680 score!
2007-09-11 15:49:26 · answer #2 · answered by Roland'sMommy 6 · 0⤊ 0⤋
It is totally a buyer's market right now.
2007-09-11 15:49:20 · answer #3 · answered by 2busymom 2 · 0⤊ 0⤋