i was getting my hair done and my hairdresser was talking to me and saying her friend in commerical real estate said that within the next year house prices should be coming down... she said if i could hang on another year it might actually be worth it.. has anybody heard this? i mean its not going to go down to what it used to be but anything would help at this point!
i was told by my agent and my real estate broker that the prices wont be going down they will 'soften' when the interest rates go up the house prices usually go down slightly. in certain areas the price drops will barely noticable according to them. for everyones sake that hasnt bought a home yet i hope there wrong and they do drop so people can afford them
oh well... i had some hope for a few hours....
My RE friend said that prices may not continue to go in the same way they have been because interest rates are going up now. We'll see!
As the interest rate continues to rise, the price of houses will stabilize. They might even come down a little $5-10k, but don't expect more. The 'savings' won't be felt too much because of the higher interest rates. Real estate is the 'safest' long-term investment. Outside of the late 80's, housing prices steadily rise, so even if you pay a lot now, if you hold on to your house for a few years you should make a profit.
Yes, FH's friend's grandmother owns a real estate agency and she said the same thing. I don't know if I can or want to wait another year though.
Posted by janwinterbridejoy
i was told by my agent and my real estate broker that the prices wont be going down they will 'soften' when the interest rates go up the house prices usually go down slightly. in certain areas the price drops will barely noticable according to them. for everyones sake that hasnt bought a home yet i hope there wrong and they do drop so people can afford them
