when would be the best time to buy a new house?

[deco]

what do u meatheads think? I say 3-6 months just too see what the situation will be like

 

[ceo]

Here in San Diego...probably 6-12 months ago. There are now bidding wars like there were a few years ago.

 

[timtim]

really depends on where you are trying to buy the home. i would say florida in about 6 months will be practically free.

 

[AztecWarrior]

Ceo is right. In Ca, there is good prices on house's but the bids fuck everything up. People end up paying more because of what they are willing to pay for the house by being able to out bid. Peak time to buy a house over once winter comes around. Wait for after Jan. to start looking again. The market isn't stable yet. Make sure you save up money to put a good down payment on the house and improve your credit. Dispite all efforts to help save peoples homes, people are still losing homes.

 

[AztecWarrior]

Also, any place close to the inner city is going to run the price up.

 

[billfred]

what do u meatheads think? I say 3-6 months just too see what the situation will be like

Before the federal $8k tax credit runs out - if you are a first time home buyer.

 

[BlueBird]

Short sales seem to be a nightmare to finance. Foreclosures are worth a look see but many properties lost last fall were never winterized so you'd be taking a gamble on mechanicals/plumbing, many have also been vandalized. My parents just got a foreclosure for half the asking price. It's a classic Arts and Craft, really beautiful. Needs some updating but at almost 3000sq ft with sound mechanicals, 3-car garage, and old growth large lot, it was a great deal.

 

[jnevin]

Short sales seem to be a nightmare to finance. Foreclosures are worth a look see but many properties lost last fall were never winterized so you'd be taking a gamble on mechanicals/plumbing, many have also been vandalized. My parents just got a foreclosure for half the asking price. It's a classic Arts and Craft, really beautiful. Needs some updating but at almost 3000sq ft with sound mechanicals, 3-car garage, and old growth large lot, it was a great deal.

They could do a green mortgage and get financing above the qualifying guidelines if the property is approved.

 

[rnch]

........when you have 25% for a down payment and can actually afford the monthly payments?

 

[Beaverscratch]

2009 due to tax credit, low interest rates, low housing prices. Perfect time for buyers.