The overall consensus is that the housing market is slowing, which means housing prices will drop.
Our parents want us to buy a home and will help us with the down payment but we don't think it's a good time to buy. We will only live in the house for 3 years maximum.
Opinions?
DanNette
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Re: Do you think it's a bad time to buy a house?
I think in a month or two more houses will go up for sale. Sinces the prices dropped from last year, I think its a good time.
Good luck with your house hunt. FH and I might bump into you! We hope to find something by the summer or early fall.
Julybride08
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Re: Do you think it's a bad time to buy a house?
We are going to start looking this summer/fall. Everyone keeps telling us the prices are going to drop even more. So were waiting until then. And we have alot of time before we get married thats why were waiting untill then also. Hopefully we find something.
ali120206
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Re: Do you think it's a bad time to buy a house?
I do'nt think it hurts to look!
Prices may come down more but, it's hard to say when they will level out. They are a lot more reasonable than they were previously right now.
This is a slow time of year in real estate so you could get a great deal from someone who really needs to move.
They are anticipating a rise in interest rates in 2007 as well.
murphyt33
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Re: Do you think it's a bad time to buy a house?
If you could I would wait till after the wedding. It is so stressful to but a house and plan a wedding at the same time. I bought my house last april and i am in the middle of construction right now and so stresses cause the wedding is in 9 month.
thelastresort
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Re: Do you think it's a bad time to buy a house?
We are definitely going to buy another house but not until after the wedding. Now is the time.
Kara and Todd
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Re: Do you think it's a bad time to buy a house?
Talk to a good financial advisor. You need to take other things into consideration when deciding to buy other than just the housing market. If you are only planning to live in it for 3 years, and if you are planning to stay in Manhattan or close to it, it may actually not be the best move right now.
I'd talk to a financial planner first.
tbone66
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Re: Do you think it's a bad time to buy a house?
We are looking to buy within a 45 min train ride of the city and the prices have def. gone down since last year. However, if you are only looking to live there for 3 years, you may not get back what you paid for it if the prices continue to drop.
20NK07
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Re: Do you think it's a bad time to buy a house?
Great time to buy a house, prices dropped and you can certainly talk seller down. However, in your case, I personally don't think it would be a wise idea if you're not planning to stay. Definitely consult with a professional.
Mrs. V 2008
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Re: Do you think it's a bad time to buy a house?
we are going to start looking this year sometime.....
ewickens
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Re: Do you think it's a bad time to buy a house?
It's actually a buyer's market out there. No seller is getting there asking price and in some areas, houses have dropped their prices $20-30K within a month b/c the market is inundated with houses and not enough buyers. There is definite room to negotiate prices.
As for the spring. That's always the record boom time b/c that's when weddings occur and people want to buy houses shortly thereafter. Thus, some people may be less willing to negotiate, but it's still a prime market for buyers.
Interest rates are still low around the 6% area.
I just went into contract on a house in December and we found that house sale prices dramatically decrease in winter b/c sellers want their house sold before spring.
Hope this helps!
angnick
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Re: Do you think it's a bad time to buy a house?
it is a buyers market. dh and i have been looking on and off for over a year.
We are closing on a house this month..
the houses were A LOT higher in the same area a year ago then they are now..
we got such a great deal on our house that we just couldnt pass it up!
