Would now be the best time to buy a house because of the economy?

Question

Would now be the best time to buy a house because of the economy?

Answer 1

If you have the money yes. There are some good bargains to be had right now.

Answer 2

If you have cash invest in oil or metals . For the house prices will go lower and down the road you'll be able to by more of a house then .

Answer 3

Depends on what market you're talking about.  In a place like San Francisco this is the first time in as long as I can remember that the market had a dip so yes it's an opportunity.  In Las Vegas houses are expected to tumble further, same with phoenix, sacramento, and countless other communities.  So those would be a big no.  Basically if a place has more going for it than being a desireable home it might be worth looking at.  People will always want to buy in San Fran so the value's can't go too far down there.  Whereas the suburbs of Sacramento have been emptying out and Vallejo just filed for bankruptcy.

Answer 4

A famous rich guy once said the secret to success is to never try to buy at the very bottom or sell at the very top.  

I would extrapolate that to mean that you will miss far too many good opportunities trying to maximize the benefits of a single deal.   Once you are in a favorable market, which you are today for a house as long as you plan to hold it for a few years, you need to focus on finding the house that pleases you the most that's still a good deal, rather than waiting and waiting for the very best time.

If you plan to stay in your home for a few years, now is a perfectly good time to buy anything near the median price range in your area, unless you are in some kind of extreme market.

Be sure you get the right kind of financing.  That also depends on how long you plan to stay.  Don't say forever if you are looking at a starter home and plan to have kids.  Be realistic, think about what most people do vs what you think you will do, and factor in some chance that you will change perspective and want to move some day.

Answer 5

Absolutely not the market has nowhere near bottomed out yet.