i am thinking off buying bank owned homes. my realestate broker told me wait. please give me your suggestion
Historically, in the first quarter after an election (no matter who wins) housing prices increase. With interest rates being as low as they are now you would be silly to wait to buy.
December 1st, 2009 at 6:36 am
Yes. They will go lower in the first quarter of next year. Good idea to wait for at least 4 to 5 months from now.
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December 1st, 2009 at 7:05 am
look every area of the country is different. It all depends on yours. The truth is many banks are not foreclosing during the holidays and will resume in January so your realtor may be right
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December 1st, 2009 at 7:23 am
Yes wait another couple of month. As mr. Brown cut interest rate to 2%
The mortgage rate will be going down as well. Also economic situation
Is not improving. So wait (not for too long)
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December 1st, 2009 at 7:50 am
How could they NOT go lower?
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December 1st, 2009 at 8:40 am
Your broker knows the local market far better than anyone on this forum does so my counsel is to listen to him. At the same time crunch the numbers and see what works best for you. It is never a good idea to time the market whether stocks and bonds or real estate. If the numbers work then put an offer on an investment property in early 2009.
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FL REALTOR
December 1st, 2009 at 9:28 am
it will be cheaper to build you one.buy you some land live in small motor home till you can put it together a little at a time.thats what we are going to do.i’m not getting in to that big debt thing,you start out small then when you can afford it build a little more on it.dreams don’t come true over night with out a price.and in the end the price is to high.but if you do,do a fixed rate.if a house cost 140,000.00 then you can build you one for 80,000.00 .if your with a church they will help you.good luck.
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December 1st, 2009 at 9:42 am
Historically, in the first quarter after an election (no matter who wins) housing prices increase. With interest rates being as low as they are now you would be silly to wait to buy.
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Licensed Realtor