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Right Time To Buy A House?

Sweet Spot?

We already know that home values are way down. Now, interest rates are at their lowest level in nearly 40 years. So is it the time to strike? Or is the bottom still somewhere off in the future?
Ref. ABC Nightline

House Buy Time Right

I think there is still a bottom to be reached out there. Yeah you can buy a house now if you have almost perfect credit. I have talked to many people who can not even get a car loan let alone a home loan. I think the banks are being very tight with any credit they are letting out. I say give it till this spring to see if the market for loans becomes easier.

Right Time To Buy A House? History & Civil Business Politics

If you have the monies for a decent down payment I am thinking you are likely safe to by right now and with zero down what you save on interest will cover any decrease in property value till is soars back again. I think this is a better alternative to no down payment on home to boost the market as long as they take a 10% interest rate into account when they see if you can afford the mortgage payment.

House Buy Time Right

If you can buy now. Now by "can" I'm referring to you having no other debts. I also think you should consider why you are buying. Is it with the hope of reselling later or just to say you have more property than the next man?

House Buy Time Right

If you CAN buy now, then you SHOULD buy now. Thinking that if you wait a month or 6 months down the road to see if the market declines further is a very risky notion.

First of all. Interest rates are at an all time low! That is always the best time to buy. Add the fact that there are many distressed Sellers out there and Bank foreclosures - you can get a great price for a great home at this very minute! Saving another $10,000.00 only equals about $70.00 on your mortgage payment over a 30 yr fixed mortgage. But if the reverse comes true and prices go up another $10,000.00 you just lost that equity - not just $70.00 more on your mortgage payment.

One little secret is that buying land is about to be the next best thing in Real Estate. I sell Land in Florida - have for years - consistently. Land never really loses its value. Sure, some have taken a loss when they bought at the height of land prices, because they "HAD" to sell. But unless they "HAVE" to sell it - the value is still there. You can build on it, you can resell it, you can hold onto it. But in today's market - especially in FL, I'm seeing 1/4 acre - 1 acre lots going for as little as $1900.00- $5000.00. Imagine what less than $5000.00 can do for you in a few years or even in a few months if the market begins to increase again? And it will. Especially for Land.

Right Time To Buy A House?

The key is to have a reserve of cash though. Do not take your last money to buy land because remember its going to sit there awhile until the market picks up or you build.

Right Time Buy House

What I have heard is that you should have 50K in reserves should you lose your job. That should cover you for a full year of unemployment. If you have enough after that to invest, this is a great market to buy right now. My brother and I are looking to scrape up enough cash to buy a really small house outright. I do think this is the bottom of the realestate market or very close to it as the prices are actually increasing for the first time in years in some areas.

Right Time Buy House Politics Business Civil & History

technically they say you should have 6 months of reserves (not just mortgage payments)
But if you are really looking for a good investment, Land might be your answer. Land is cheap now..and if you have the money to buy a home already buildt...you can buy land for a lot less and as the market increases, build a home and sell for a better profit. If the Market doesn't increases you are not stuck with a house, but with a piece of land that will never diminish in value.