Housing Market Curiosity Poll

[Anonymous]

Would you buy a house now? Why or why not? 

Trying to gauge how everyone sees the housing market.  Is now the time to buy?

I'll start off by answering myself: I think we have a lot of correcting to do in the major housing markets as else where.  Since they are the "Major" markets, even the markets that have not seen the 50% appreciations of the last few years will have a stagnant/negative housing market IMO.  Thoughts? Ideas?

Thanks

[luvs2barre]

We are hoping to buy this year. We will be first time homebuyers. We live in Northern VA where the cost of living is high to begin with. Since prices have went down considerably and we could actually afford a nice townhouse in a area where our commute wouldn't be too bad because of access to a HOV. So we think it would be wise for us to buy now because we plan to stay in the home for at least 5 years if not more.

[Anonymous]

The house at the end of my street is for sale-

Even though "Values" have dropped severe here- there are very few homes for sale around me- 

I have put in a bid on this house (150K less than he paid for it)

This would be a rental-

I bough my current home for $175 the end of 99 -

It peaked in value at about $500 now down to 380 to 420  

I owe $90 on it-

[sh9730]

I actually think your results here are going to be skewed in favor of it IS a good time.  Many people here have already made the decision and are in the process of credit cleanup etc to make it possible.  

I for one will be buying in April/May, but am buying an entry level house in AZ and the prices of those ahve tanked so much even if they go down some more it is almost impossible to go too much further....new build houses in naborhoods Im looking at are right at 100K.  I mean even if they go down another 10% in the short term, how much does that kill me?!  Ya know?

[Anonymous]

Hello fellow Arizonian  

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sh9730 wrote:

I actually think your results here are going to be skewed in favor of it IS a good time.  Many people here have already made the decision and are in the process of credit cleanup etc to make it possible.  

I for one will be buying in April/May, but am buying an entry level house in AZ and the prices of those ahve tanked so much even if they go down some more it is almost impossible to go too much further....new build houses in naborhoods Im looking at are right at 100K.  I mean even if they go down another 10% in the short term, how much does that kill me?!  Ya know?

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[Anonymous]

We purchased a home in Feb. We paid almost 30k less than the original listing price. The house appraised for 10k more than the balance on our mortgage. It's a good time to buy from builders in my area. A lot of "new" houses have been sitting a while.

BTW I'm is MS

Message Edited by a0034d on 03-18-2008 03:24 PM

[sh9730]

Not yet....still in CA, and still trying to decide exactly where....since I dont have to commute (work from home) I have lots of choices....prob gonna be Casa Grande, QC, or city of Maricopa (or one of the developments in between that triangle).  But, even with the home price drops here in CA, still nowhere near as cheap as AZ. 

Anyway, probably shouldnt hijack this thread too much...city-data.com is better for this type of discussion..

[Anonymous]

I would buy now, if only...

- If only we could qualify considering that DH just started a commission-base job in a new field.

- If only we could sell the house we're in.

- If only we were finished paying down our CC debt & saving money (should be finished by August-ish).

So if all my "if onlys" didn't exist, then yeah, I'd be jumping at buying a new house. I really don't see prices going down too much farther in my area (NE FL). As it is, we're probably about 2 years away. Who knows - by then I might be glad we had to wait.

[BallBounces]

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sh9730 wrote:

 prob gonna be Casa Grande, QC, or city of Maricopa (or one of the developments in between that triangle).

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Be careful that you take a hard look at actual commutes and routes from those areas (even if you will be working at home).

[sh9730]

Thanks Vista...yeah very familiar...have brother in CG and visit often...wont be an issue..but thanks!