Real Estate People! Should I buy house now?

Question

or wait another 5-8 months.... I live in Seattle, and understand all markets are different...but in general what do you think? Thanks

Answer 1

Prices are still falling in the Puget Sound market.

See seattle times article from last week:

http://seattletimes.nwsource.com/html/bu...

Personally, I'm waiting until late 2009, early 2010 to make a move.

My simple "no one agrees with me, especially real estate agents" logic: looking at a graph of housing prices, the "bubble" that rose above the trend started in 2002 and peaked 2006...4 years to the peak, so I figure 4 years to decline back to the trend line.  Thus, 2010 would be the ideal time to buy.

Of course, if you're looking for a home to live and stay in, then ANYTIME is a good time to buy. All real estate will continue to increase in value over time.