❂ BlueBerry ❂
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yes ... it all depends where you buying it ... |
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janelle t
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yes/no. there are so many foreclosings, so it's going to be harder to get approved for that loan that your looking for. Houses are being sold for cheaper which is good, but the interest is rising. I would say do it now though before things get worse. The market is crashing. :( |
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Googlypants
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I hope so!
I just bought a bicycle! |
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De Deuce
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Not particularly. But then when IS the time to buy property. Also, the answer is heavily dependant on the location. Property (raw and undeveloped) does not go up and downin price too much. Once it hits a plateau, it is there. Of course there are exceptions to all cases.
The real question is this, WHEN should you buy property? That is simple, the younger you are able to buy property, the better. No matter the price.
The reason for this is just as I said, property prices are relatively stable. Buy when you are younger and as the dollar denomination is devalued (by inflation and riseing demand) it becomes easier for you to pay for it.(as time goes on, real dollars get cheaper and more plentiful. If you bought at prices in the 70's you would be paying for it in 2007 dollars.
ANYTHING that apprieciates in value over the long run (cars, TV's, refrigerators, and iPods, do NOT apprieciate) is something to own for investment sake. Land (Will Rodgers said "Buy land-they ain't makin' it no more") is always a good investment. Get started early and you can look back with a VERY smug face at those still renting. |
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shellie c
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accourding to suzi orman it is a buyers market right now. in the past it was more of a sellers market but because of the economy it has forced sellers to come down on prices to sell ..so if you can afford a home right now make sure to use your fical score to get a good interest rate... and always try to get a 30 year fixed morgage if you have good credit.... |
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tiggy1953
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Not really.....the banks basic chqarges have gone up, and house prices are still the same....I would wait a while, people will be dropping property prices soon, watch the banks prices, and check house values, and you will soon see the change......Then u have to decide when you think is the best time to buy |
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fFirst Name F
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no. |
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Geoffrey B
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If you buy now in the UK you are buying at prices which are very high, judging by the standards of what we have seen in the past. For example, the ratio of house prices to earnings is higher now than it ever has been in the past.
Having said that, house prices have been 'expensive' judging by historical yardsticks for 5 years now, and they have gone up very significantly during that period. It is hard to tell whether or not prices will continue to go up despite them being very high already.
You really need to think about risk. Is there a greater risk for you in being out of the housing market (and seeing prices go up further) or buying a house (and seeing prices drop)? |
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Frank Castle
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No. |
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SJ
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The answer is yes in two cases:
1) You are looking at your perfect house or building site and will stay there for years.
or
2) You are an extremely astute well-financed property investor with years of experience.
conclusion:
If 1) you would just buy, you wouldn't wait to ask on Y.A.
If 2) you wouldn't waste your time asking on Y.A.
Therefore, save up your money for another year or two. |
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Yard Bull
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8pm isn't a good time no.. |
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Steve M
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Buying property is always a good investment provided its not in a high risk area (i.e. fires hurricanes floods etc.) Most properties average 1.8* investment every 10 years. |
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kelly
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not now exactly. value seems to be going down, but maybe in a few months. |
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Angel
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In my opinion...Not right now. |
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Prodigal Son
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I believe so and I've been saving since the day I moved into my house (I was 16) I know where I live you've got to wait five years so by this time next year fingers crossed I'll be the owner of the only place that I've ever felt really at home.
I know that if I ever was to sell this house I'd make at least double my money after doing some research on recent sales in my street. I would agree that now is a good time to buy property and want to take this opportunity to wish you the best of luck.
Thank you. |
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vskane2000uk
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Now is an absolutely awful time to buy property.
Wait 12 months and you will be happily wondering round a buyers' market. |
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I'am God's Girl
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No. Some how beacause the market is suppose to be "bad" the prices on houses seem to have gone up. Maybe they mean the pricing was bad and it was a bad time to buy? |
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cng
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I think so. Although it will probably be difficult to get a loan, sellers will be more willing to work with you since not as many buyers are able to get loans so they can't buy. That puts you in a position of having money when alot of people want to sell but can't due to no buyers.
If you want to buy a house to live in it is a good time. Just buy what you can afford and make sure you don't buy a property that seems overpriced. This way what used to be your rent will help build equity (making the home eventually yours and not attatched to the bank in any way)
If I had income and could get a loan I would buy property now before rates go up farther. If rates go down, I could refinance if I have enough equity and a no penalty for early payment loan. |
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Anthony
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It depends on where you are located, but with the increase in mortgage delinquencies and foreclosures, it is a great time to buy - provide you don't buy at market prices because the market is still declining.
If you can buy a distressed property, a short sale, or a bank owned foreclosure at 80% or less of the current market value (and yes, they are out there), you have done well, because although the market is declining, it won't drop that much over the next year, and by the end of next year (2008), things should have settled and begin to rebound. |
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daark
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no |
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knox_uk_99
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its never a good time, but if you have a good deposit i would be tempted to hang on a while as the lenders are reporting a shortage of borrowers, therefore meaning that people will have to reduce their prices to get buyers interested... the other option is buy now & take your chances... |
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greenfingers back to normal
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Not at this moment in time, wait a few months to see how the market is going. |
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fashonion
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If you are in the UK then now is not the right time. The early to middle part of next year will be as many of the buy-to-let landlords will not be able to afford their mortgages due to high interest rates.
The housing market will be flooded and they wont be as much demand making them a little cheaper or at least stop the prices rising.
Just hold fire until you know how the market will pan out. |
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Irish816
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Anytime is a good time to buy a property as long as you stick to what you can afford ... dont try to keep up with the Jones's that a big family right there. |
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