Does anyone have an educated guess of when the housing market is suppose to get better?

Question

I hate renting out our house but it beats being in the hole $30,000! I'm sick of people tearing up the house. Even with a good contract and deposits, it still sucks cleaning it all up and paying contractors an arm and a leg. We had to move far because of work or else I would do the work myself!!!! Will this all be worth it in the end?! Personally, I don't see a light at the end of this dark hole!

Answer 1

Depends on where the house is, some areas are selling very well.

Answer 2

If you over paid then you're in trouble, but if you didn't then wait it out. As far as renting your house make the potetial renter fill out an application just like you would for a loan..that helps eliminate alot of BS people

Answer 3

probably 5 years for sellers. nows a good time for buyers. right about the time im ready to buy a house itll be all bleh for me

Answer 4

So take a more proactive approach...  Instead of offering a 1 year lease, offering multiple-year options at a reduced rental amount.  I encourgage tenants to sign 2 year lease agreements so I don't find myself in this situation as frequently.  If you tell them the rent is $10 off, (or whatever) to sign a 2 year instead of a 1 year, you might encourage them to occupy the property for a longer period of time.

As a partner in the commercial finance company, we project 2-4 years.  Probably 2 years before housing prices start appreciating again, and probably up to 4 years for the finance industry to turn around.

Answer 5

As long as you think house is a residence not an investment like advertisements then it wouldnt have any problem of gamble.  Price is determined by supply and demand not by financial calculations and the economy was going to have more difficulties.  The expanded political economy has its limit.  The coming rescue plan is to bail out the unqualified success to avoid collapse of the economy.

Answer 6

It really depends on who you talk to....most people agree that it will take anywhere from 3-5 years.

Answer 7

Certain areas are beginning to see a little movement now ... while other areas are still DEAD ...

It all can boill down to your state and even the county and city as far as the real estate market goes ....

However; the word is that for EVERYONE ; the market can pick up betwen now and the next five years .... so that doesn't really tell anyone too much ....

The best thing that you can do is to list it for the lowes price possible and just HOPE that it sells ....