I'm in the DC area and dying to buy a place (just got engaged, hehe) but it looks like prices in our market are dropping. I also see lots more inventory. Anyone else holding off on buying?
Real estate! How is your market?
- Thread starter winternight
- Start date
I'm in the Los Angeles area. Market's slowed down, and there's much less inventory. However, price hasn't noticeably dipped.
I'm in Minneapolis - it seems that it's a buyer's market here. I just bought a condo downtown 6 months ago and now prices are a lot more competitive because condos are being developed everywhere. At least I plan on living here for a few more years
I am in Michigan and it is the worst in the US. So, all I can do is hope and pray that it comes back because you cannot sell a thing these days- there are more houses/condos whatever on teh market than buyers- and it is foreclosure heaven. AWFUL!!!!!!!!!!!!!!!!!!!!!!
I sell new homes in So. Cal - market has cooled off. Prices have come down a little, but they had gotten ridiculously high. This is a great time of year to be a buyer even in a "good" market.
Right now you can ask for lower prices, help with closing costs, etc. If you are buying a new home from a builder, ask for incentives - upgraded flooring, appliances, etc. You can probably get them to pay for all of your closing costs, and maybe a year of the association fees if its a condo. Don't be afraid to ask - all they can say is no!
Above all, look at it as a long term investment. Even if prices drop a little in the next year, all you have to do is wait for them to go back up before selling. Just make sure you get a mortgage with a rate fixed for a long enough time. Good luck!
Right now you can ask for lower prices, help with closing costs, etc. If you are buying a new home from a builder, ask for incentives - upgraded flooring, appliances, etc. You can probably get them to pay for all of your closing costs, and maybe a year of the association fees if its a condo. Don't be afraid to ask - all they can say is no!
Above all, look at it as a long term investment. Even if prices drop a little in the next year, all you have to do is wait for them to go back up before selling. Just make sure you get a mortgage with a rate fixed for a long enough time. Good luck!
South Florida. Supposedly home sales are falling, and prices are slowly falling... but I don't see that at all. Getting the %&@# out of here next year.
Seattle area. Home sales slowing. I see it right across the street from me with a beautiful 'flipped' house that has been on the market longer than it took to flip.
Condos and townhouses? Still going strong and lots of new construction in the 'burbs.
Condos and townhouses? Still going strong and lots of new construction in the 'burbs.
Well, we are building a new house and put our home on the market shortly after begining the build as we thought it might take a while to sell. Well, our house sold in 30 days!! LOL Now we are in a rent house until the new house is complete. Kinda sucks really! LOL
Basically the market here is still fine. Where we are building there are a ton of new homes going up!?!
Basically the market here is still fine. Where we are building there are a ton of new homes going up!?!
Amamxr,
where do y'all live? I'm on (erf.. shadows self with pillow or blanket) the east side... in a row home community that *might* make a profit in a few years.
Would love to live on the right side of the tracks... but it is just me so I'll fight it out here for a bit.
Cris.
We live in the hill country west of Austin in a community called Lakeway.Amamxr,
where do y'all live? I'm on (erf.. shadows self with pillow or blanket) the east side... in a row home community that *might* make a profit in a few years.
Would love to live on the right side of the tracks... but it is just me so I'll fight it out here for a bit.
Cris.