How do we find out Real estate market is at the bottom?
Posted on February 3rd, 2010 in Renting & Real Estate | 5 Comments »
mchimurkar2002 asked:
I am following real estate in Virginia(fairfax) I need to know when Market is bottom. Please provide any valuable information which helps me make my decision.
5 Responses
Sarasota Real Estate News
You guess. You research. You follow the trends. you get a bit lucky.
Body Thermage
i am guessing you are only going to buy when it hits the complete bottom, so is everyone else so it will continue down and down
Brigantine Nj Homes
There is no schedule. Everyone has to speculate, just like any other market.
I am guessing close to bottom, but that we will cruise here for a couple of years until all of the sub-prime people, who never should have bought in the first place, have been foreclosed on. I expect things to increase after that.
However, interest rates may increase and keep things low for longer.
Atlantic City Homes
If you look at stock market charts you find that prices go up and down, but that most people wait to late to buy and wait to late to sell because they are trying to do what you are trying to do. House prices do that also. Don’t try and time the market, it is a losers game.
If you are looking for investment property and find one that is a great price in relationship to the rent you will collect- then buy it. If you find a better one three months later then buy it also!
If you are looking for a home for your family then look for the best neighborhood you can afford and look for a nice home in that neighborhood and negotiate the best price you can. Even if you could have bought another home for $500 less had you waited three months, you are much better off than if you wait a year and find homes have gone up $5000, interest rates have gone up 2% and you have paid another $15,000 in rent.
Don’t pick a house to buy based on why it is being sold. The best house may be a foreclosure, or a relocation, or an estate, or a divorce, or someone that can no longer afford the upkeep, or whatever. Pick your house to buy based on your goals and needs, and based on your educated estimate of value.
Silver Spring Md Homes
Go to and click on the Realtytrac logo..Go to your state of Virginia and follow these properties for awhile. The clues will start being obvious.