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    Best Time to Buy a House in 4 Years

    I don't know if we have seen the bottom yet but the press is starting to spin more of these types of stories:

    Most housing markets are less overvalued - Mar. 4, 2008



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    Re: Best Time to Buy a House in 4 Years

    It may be the best time to but a house, but certianly isn't the best time to sell a house...



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    Re: Best Time to Buy a House in 4 Years

    I wish I was looking to buy right now...


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    Re: Best Time to Buy a House in 4 Years

    Our is on the market and we have had pretty good action - not an auction by any means, but we have already had offers we have turned down for non-monetary reasons.

    The central Iowa market is not in as bad of shape as some others thank goodness. It is not as great as it was, but it is not nearly the end of the world some are trying to make it out to be.

    We have our eye on a house that is really undervalued and with a little work we should make $100k on it over the next couple of years.



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    Re: Best Time to Buy a House in 4 Years

    If I was confident we could get everything we have put into the house plus purchase price then we would probably look to upgrade. As it is, we will probably just sit on it and continue to make double payments since we don't really NEED the extra space right now...


    Last edited by cybsball20; 03-04-2008 at 02:13 PM.

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    Re: Best Time to Buy a House in 4 Years

    Texas homes always seem to be cheap compared to the rest of the homes in big markets. I'd much rather live in Austin or Dallas than San Francisco or Las Angeles



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    Re: Best Time to Buy a House in 4 Years

    I noticed that Shreveport is on the list as being undervalued.....never mind. I hate when people slam Iowa so I'll keep it to myself.



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    Re: Best Time to Buy a House in 4 Years

    Alot depends on where you live. Outside Raleigh NC I know I could make $100 K on my house today, it was new 4.5 years ago. Granted we couldn't sell it in a couple days like other houses in my neighborhood did last summer and fall but I would image it could sell within a few weeks. The problem around here is all the high dollar houses. The market has so many $650-800K houses on the market. The builders are starting to cut prices (as much as $100k) to sell them. The market doesn't have alot of $250-350 K houses. You can get a bigger house without handing over the dough...



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    Re: Best Time to Buy a House in 4 Years

    Austin and San Antonio are great spots to retire.


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    Re: Best Time to Buy a House in 4 Years

    Quote Originally Posted by Wesley View Post
    Austin and San Antonio are great spots to retire.
    My uncle has a house on Lake LBJ in Horseshoe Bay out by there, I would LOVE to retire there...



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    Re: Best Time to Buy a House in 4 Years

    This is all true in Las Vegas, California, Florida, and Phoenix. I work with refinancing across the US and I have customers in those areas right now whose houses are worth 50k-150k less than 2 years ago. One couple bought there home for $512k in 9/06 and it was appraised last week for $356k in a town 60 miles East of San Francisco. Brutle in these areas right now.


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    Re: Best Time to Buy a House in 4 Years

    Here is an RE appreciation map that we use:
    Attached Thumbnails Attached Thumbnails Click image for larger version. 

Name:	appreciation.jpg 
Views:	41 
Size:	62.6 KB 
ID:	1507  


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    Re: Best Time to Buy a House in 4 Years

    I'm hoping these prices continue to decline into next year when I'll be looking to buy! The purchase I make then has the potential to be a very long term purchase, buying when the market is at a historic low would be icing on the cake.


    "I think that people are responding to someone standing up and saying this is what we want to do and let's not be afraid to go for it,'' Pollard said. "I think Iowa State has a very conservative, modest background. We never pound our chest and say `Let's do it.' It's OK to set a goal. You can't do it if you don't say what you want to do. You should be proud of it.''

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    Re: Best Time to Buy a House in 4 Years

    Wish I could afford to buy right now, especially living in Austin. 10 months out of school, not enough dinero.



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    Re: Best Time to Buy a House in 4 Years

    Quote Originally Posted by cardinal&gold View Post
    Wish I could afford to buy right now, especially living in Austin. 10 months out of school, not enough dinero.
    Buying in Austin is probably cheaper than renting...



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