How low do you think the real estate will go?
Posted on February 28th, 2010 in Renting & Real Estate | 6 Comments »
e_grabin asked:
I live in CA, but my lease on my apartment is for another 6 months. Do you think the real estate market will keep decreasing, or rise any by then? I don't think it could just boom overnight can it?
San Diego Foreclosures
I live in CA, but my lease on my apartment is for another 6 months. Do you think the real estate market will keep decreasing, or rise any by then? I don't think it could just boom overnight can it?
San Diego Foreclosures
6 Responses
Sarasota FL Real Estate
It will go lower in all probability. It can’t boom overnight.
Orlando Florida Real Estate
Sweetie if any of us could predict we’d be making alot of money instead of starving here on this damn vine!
San Francisco Cosmetic Dentist
I think it is going to get worse before it gets better. I’m planning on holding on to my house until spring, 2010.
Hawthorne Ca Real Estate
Nope, the estimate for the real estate to go back to at least its normalcy could be longer than a year from now. A lot of people got into a credit mess and to get out of that will take more than a year.
Although, there are still a lot of people that has good credit standing – those people that earned 6 figure income and combine – these people will be the **** saver if they will continue to own more than one property.
It’s really a matter of fact that some people that does not have at least higher income than 80,000.00 and has debt, ie. car payment, student loan, and other extra curricular expenses
should not look into buying a house no matter how inticing the offer from a lender is – additional to debt is the very low credit score due to being late on monthly payment which is due to so many account with different companies, department stores. It just doesn’t make sense – there’s no way they can afford a house payment with all these lingering debts. They will just put themselves into deeper shthole. What do you think my friend? Am i right?
Thermage Before and After
The homes surrounding me are going for 399,000 to 585,000. I dropped mine down down from 527,000 to 475,000 to a final 439,000…SOLD in an instant!
So YES, the market is lowering in price and with enough naive folks as myself, it will go down more.
SO SMILE AND BE PATIENT:)
Sarasota Florida Real Estate
Personal opinion is that the current housing situation will continue to wane. It will begin to improve in certain areas that were hit first, where the smart money and investors are purchasing, and the local economy is strong. If there are jobs there will be people to fill them and to purchase homes. It will take a while for the current inventory of homes to be absorbed but it will happen.
If you live in an area of the country that has a special situation, the industry is under pressure, compressing or being obsoleted, then it may never turn around. History has shown that to be true for plant closings and natural disasters.
Things never seem to just boom or bust overnight…
If you are interested in buying then you may want to start looking for a professional agent who knows the market well and can assist you. Be upfront and tell them your time frame.
Also, this is a good time to get your credit checked and explore financing.
Good Luck!