Should I buy a home now or wait for prices to go down? Will they go down?

Question

Should I buy a home now or wait for prices to go down? Will they go down?

Answer 1

Wait.  Home prices won't "go down".  They will probably stay the same.  What that means is, with inflation, the price of the house will seem to fluctuate, you'll be able to afford more house.  Plus, as more people are struggling to make their mortgage payments, the banks will begin to try to unload in the future, since they are not realtors or property managers.

Answer 2

It depends on where you live.  Prices have stabilized a little, so it's really your call.  I wouldn't buy one if I wanted to move within 5 years.  But the Real Estate market will always creep up and up, if you look at the historical charts.

Answer 3

Real estate has skyrocketed in the past few years, and it seems to be leveling out.  I don't foresee the prices going down any.  Now is just as good of a time to buy as later.

Answer 4

No, you should give those money to me instead.

Answer 5

My suggestions to you would honestly be to low-ball the offer you initially send and see how they counter you with.

Answer 6

I would buy now.  I do not believe that home prices will go down much if at all.  Right now, it is a buyers market in most locations in the US.  There are more houses for sell than there are buyers. Therefore, house prices are relatively low.  If you wait, you are just wasting your money on rent for a place to live.  You are, also, running the risk that interest rates might rise.

Answer 7

Wait if you can.  I predict that the bloodbath is only beginning.

Answer 8

I say buy now but don't sell now.

Answer 9

Realistically, it depends on your location.  

In my area, the builders have no idea what's about to hit them.  They are going to be begging people to buy come first of the year.  A lot of the low interest ARM's are comming due about then, and that's when the REAL deals will be had on new construction.  

But there are deals to be had RIGHT NOW on many existing homes.  They aren't going to be going down by the tens of thousands anytime soon, but they aren't going to be skyrocketing anytime soon either.