 Will the real estate market pick up? |
| I needs to sell a piece of property. Do you prices will pick up after the new year?... |
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 I was recently laid off from my job. Can my landlord evict me? |
| I'm a subtenant in San Francisco to a master tenant. I have a signed rental agreement, so I *DO* have written proof. I told the master tenant (who lives in the house with me) that I would be ... |
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 In New Jersey, should a landlord provide it's tenants with a refrigerator? |
| When i first went to look at this place the place was so clean and nice that i didn't pay any attention to whether or not there was a refrigerator there. I put the deposit down but after a ... |
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 Want To Take Legal Action Against Attorney? |
| My husband and I hired an attorney to have a title search done on our property prior to getting our mortgage. Upon the attorney's research she found that the title was good, however 2 years ... |
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 Is flipping houses a smart way to make money? |
| also what are the basics that you need to know to excell in flipping houses ... |
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 Is my ex landlord responsible for replacing the carpets at his expense? |
| I am getting ready to move out of my current rental. The carpets are falling apart. Everytime i vaccum more of it rips apart. Can they charge me to replace the carpet? i have lived in the house ... |
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 What do you think about my realtor? |
| This is my first time buying a home. My mom would be my co-borrower. Her credit is very strong. We found a house that I really like. It is a bank owned property. The listing price is 237,000. M... |
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 How do I get a person out of my house who is doing illegal drugs. We have no lease. He just pays me week by w |
| How do I get a guy out of my house who is doing illegal drugs in it. We have no written agreement. He just pays me week by ... |
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| Would you rather have a big house in a shady neighborhood or a small house in a decent neighborhood? |
| We're newly married & poor trying to buy a house in an overinflated market. There are some places in our price range that are decent size (one's a 4 bedroom) but they are in a scarrier ... |
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 Landlord lease issue please help? |
| My husband and I signed a 1 year lease that is up on Friday, the landlord wanted us to sign another but we plan on moving so we didnt sign it. She then said we would have to give her 30 days notice ... |
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 Can a person buy a home with bad credit? |
| I live in Oklahoma, I have bad credit, but great income. Due to my ex, i found out that my credit rating is in the mid 500's, which sux. Any Ideas? I am so tired of paying rent, i think at age 41... |
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 If you qualify for a $150,000 home loan but the house is only $130,000, Do you get to keep the remaing? |
We are trying to get qualified for $150,000 home loan. The home we are looking for is actually only $130,000. Would they redo the loan or could we keep the $20,000?
Additional Details
I ... |
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 What can I do before moving out, to prove that I left the place clean and not beyond normal wear and tear? |
| I've asked my landlord to complete a move out inspection with me, after I've moved everything out of the unit. Yet he insists he will do the inspection ALONE and notify me later regarding ... |
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 Can your landlord call you 35 min. before coming over and just let him/herself in if you are sleeping? |
| Our landlord called and 35 min. later he was here while my husband was sleeping. When he entered the house, he found that we had pets that we were not suppose to have. As far as I know, it is ... |
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 My apartment left me a note that they will be doing inspections ...? |
inside of the apartments the next couple of days. Is this ethical for apartments to do this? What exactly will they be inspecting? The leaky roofs that they never fix?
Additional Details
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 Do you really think its a bad time to buy a home? |
| I'm getting married in June and everyone is telling me that its a really bad time, with the economy and all, to buy a home. Am I being naive or is it really a bad time? If so then what do I do.... |
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 How do people get so rich (ie. Buying a 3-family home)? |
| if you make 60k a year, and 30k of that is wasted every year on living expenses.. how do you get rich? What kind of income do you need to afford a $800,000 home?? What job and how much experience?... |
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Leo | Recently house prices have started to fall. Why? |
is it to do with Demand & Supply- interest rates,income etc.. |
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Jasmine Peters At Home
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Er... something to do with EVERYTHING ELSE going up in price forcing house prices down because nobody can afford them with all the other prices now being so much greater than even last WEEK let alone this time last year. It's called INFLATION, caused by a world-wide RECESSION. |
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wizbangs
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All of the above.
For the same reason oil prices and food prices go up, housing is coming down.
People are more concerned about inflation (and that they'll need their money to pay for gas, food, etc.) that they don't want to put all that money into a house. With rent, they can walk away when they no longer can afford it. In a house, you could lose all of the down payment you put on it (most mortgage companies are requiring 10% right now).
Also, a lot of Americans are in way too much debt. With the credit crunch happening, banks won't lend to high risk buyers (those with a lot of debt). So, with no one to finance them, there are fewer people who qualify to buy.
Fewer buyers and more empty houses (inventory) = lower prices. |
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graftonandco
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Global economy. Many factors including inflation of 3.3% in Britian, the US economy collapsing (=negative effect in Britain), global food shortages (meaning higher utility bills, less people being able to afford to move). etc etc etc |
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Knownow't
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Exactly what you say.....its a Market...when there are few properties available, then they are in demand and the price will remain high....when the interest rate is high and people have to pay more for a mortgage then there is less demand....more houses are available, so to sell them people have to reduce their price. |
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Trixie Bordello
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Mortgages are now much harder to get because all credit is more expensive. As a result houses are not selling which has caused the price to drop. |
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man290663@btinternet.com
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The Press have terrified new buyers into stopping and staying put. for fear they might lose 10,000 but staying put has cost them 10,000 anyway!
with no buyers people who need to move drop their prices to sell but with no buyers prices will keep dropping.
prices heres haven't moved since 2004 and they're dropping as no buyers about even repossessions aren't moving.
some people who used to be able to over-stretch themselves cant now do so as lenders are becoming sensible again. There is no shortage of money if you want to borrow sensible amounts.
but increasing food and fuel prices has made people less likely to buy.
The credit crunch is an invention of the media - there's no pulling back of money just lenders finally becoming responsible again.
PS Want to buy my 1350 sq ft 4 bed detached house with detached garage & off-road parking for 5 cars overlooking a formal square for less than it cost in 2004 at £230,000? PE7 8AT |
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Brian A
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It is a combination of things. Credit is harder to get and more expensive so demand is down. Foreclosures are up so supply is up. A weak dollar and economy are making people more nervous about taking on more debt. |
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Amy W
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The biggest reason is that they had gone up too high. People could not afford what they had become, so they could not stay that high. |
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ANF
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Caused by the lack of sustainable funds to lend prospective buyers. This was in turn caused by banks borrowing money from overseas banks at low interest and giving the money to borrowers at high interest. Suddenly funds all ran dry due to financial problems in America and there you are. No loans, no one to buy houses so down comes the price. It will get down to a level where there will be some loans available and the prices will surely then move up. Could be a year or two though. |
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Omgitshim1
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Actually, it is the expectation of future lower demand which is driving the prices down, Homesellers believe that the market is heading downwards, so they cut the asking price in order to get out before it falls any further.
Also buyers make speculative offers, under the asking price.
It is partly to do with actual demand and supply, but it is exaggerated by expected demand and supply.
Demand is reduced when interest rates go up and mortgage lenders stop lending to people who can't afford the ridiculous prices being asked. Expectations of job insecurity, and no new recruitment puts a blockage on future demand.
Supply will increase, as people lose jobs and need to move/downsize. London is particularly prone to the supply increase, as many people who live in London are only there because they have a job. Take away the employment, and the housing supply for sale will increase.
So it is a bit of both. However, it is the expectation of supply and demand which really makes the market move fast! |
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Jäger
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It started as a market correction a couple of years ago. It's just being compounded now by the increased costs of oil as well as the over-correction of the lenders. |
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Happy Murcia
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It`s to do with global recession and the credit crunch combined with over inflated house prices..... |
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susiebryce
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Banks are not lending money so easily..mortgages are harder to find, and cost more. General rise in prices of commodities, food, gas, electric, petrol etc. mean people have less spare cash. There are houses for sale, and people who want them, but the market is slowing due to the reluctance of people to buy and commit to the expense. I rent properties, and am being deluged by requests for my properties. However, I haven't bought any more for over a year now, nor do I intend to. |
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Doctor Deth
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RECENTLY??? - They've been going down for the last 2 years and have another yr to go - repos flooded the market |
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Biggie @ Arbor Mortgage
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Supply & demand. There are so many homes for sale & in foreclosure & no one to purchase them that is qualified. |
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Ms. Sunshine
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Ummmm, incase u missed the business section in the paper the last full year---- u would see that the prices are coming down cuz all the houses are under forclosure terms, so a bank requiring a house that is almost paid off, can resell it for double the money left to be paid on it.. SO if a bank gets a house that only has 50,000 left to be paid and sells for 150,000 so the math, mucho profit on that.... :) |
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