House Hunters....do you think houses prices will drop even further?

or would you buy now?

Message edited 9/1/2009 12:18:52 PM.

Re: House Hunters....do you think houses prices will drop even further?

if you find ahouse you love, buy now. interest rates are still low.

Re: House Hunters....do you think houses prices will drop even further?

Re: House Hunters....do you think houses prices will drop even further?

Re: House Hunters....do you think houses prices will drop even further?

we are waiting about another 6 to 9 months

that isn't to say that if we found something that we felt was priced below market value or too good to pass up we wouldn't buy it

but the point of us waiting this long to get the best deal and (I might go to hell for this but..) use the market situation to our favor-

Re: House Hunters....do you think houses prices will drop even further?

I'm going to wait it out just a little longer...

Re: House Hunters....do you think houses prices will drop even further?

I agree with most.

I think if you see something that is a great deal, great area, and you love it - you are good to go.

But, the one thing I wouldn't do is buy without really looking at tons of houses and seeing how far my $$ will stretch.

That's why I'm glad we waited (not on purpose) and ended up buying the most we could - which we got under value - and has the most opportunity to reappraise well.

Good Luck!

Re: House Hunters....do you think houses prices will drop even further?

We're house hunting now and have the same philosophy as most that have posted. We are waiting for the prices to continue to drop but will jump on something now if we love it. Our realtor said that the prices will continue to decline in 2008.

Re: House Hunters....do you think houses prices will drop even further?

We bought in August 2006, I think we got a great price for the condition and location.

If our house was on the market right now i dont think it would be selling for any less.


I do think house prices will continue to drop, and that is good, as maybe more people will be able to afford a nice home to live in

Re: House Hunters....do you think houses prices will drop even further?

DH and I started looking in Sept. I think prices are going to continue dropping, but we are ready to place a bid if we find something. Our lease is up in May, so we're hoping to time things right.

Re: House Hunters....do you think houses prices will drop even further?

I believe that overall prices will continue to drop but, in some markets, they will start to level off.

If you find something you love though - I say go for it!

Re: House Hunters....do you think houses prices will drop even further?

I have heard actually recently on CNN or one of those that the house prices will start to increase in '08. And they were saying if you are selling to hold out until the Spring of '08.

Re: House Hunters....do you think houses prices will drop even further?

as of yesterday all indicators are saying recession and a downward trend.
We are offering 15% off asking and if people are serious about selling, they should consider it.

Re: House Hunters....do you think houses prices will drop even further?

We are going to wait until January.....im hoping they will still go down...even if just a little

Re: House Hunters....do you think houses prices will drop even further?

They might. If you are not trying to sell at the same time and you can wait, it wouldn't hurt to do so, though interest rates may go up next year. It's really hard to time this well.

Re: House Hunters....do you think houses prices will drop even further?

we're not looking now (we want to sell and buy in 2010), but if you are looking to buy you might want to take advantage of the upcoming rate cut.

http://www.chicagotribune.com/business/chi-sat_wall_1201dec01,1,1221075.story

Message edited 12/2/2007 12:02:09 AM.

Re: House Hunters....do you think houses prices will drop even further?

Re: House Hunters....do you think houses prices will drop even further?

Re: House Hunters....do you think houses prices will drop even further?

the agents , & even some builders, we have spoken too (mind you we are not on LI) said the market does not look like it will improve for at least a year.
It would not benefit them to say that!

Re: House Hunters....do you think houses prices will drop even further?

IMO prices will continue to decline & inventory will increase. The mortgage fiasco hasn't even begun to rear its ugly head yet, 08 will be painful.
I see the earliest glimmer of hope being after January 09 depending on the election & who is sitting in the white house. That's when the true financial ramifications of the war will become a national issue.
If I were in the market today for a primary residence & I found a house I loved I'd offer what I believed it was worth & go from there. If it were purely an investment it would pay to try to play the market so to speak, its different when its your home IMO.

Re: House Hunters....do you think houses prices will drop even further?

Re: House Hunters....do you think houses prices will drop even further?

Re: House Hunters....do you think houses prices will drop even further?

Re: House Hunters....do you think houses prices will drop even further?

it's also taking out buyers who would have been able to secure a mortgage but now, b/c of what happened, will not be able to get a mortgage- so the pool of buyers is going to shrink and supply is going to exceed demand.

Suze Orman suggests offering 15-20% off asking price if bidding.