Now is the Time to Buy

flip_it_fast · #1 12-13-2010, 03:03 AM

You just might not ever get a better chance to buy a house whether it be for yourself to live in or something you may want to rent or flip for a profit.

The one problem may be that the economy has effected your job and your paycheck. But if you can afford it, prices may not ever be as good again as they are now.

I wanna buy that house! Isn't it gorgeous!!!

But just because prices are low and deals are out there, you don't want to get into something that you can't afford so proceed with caution. If it's something that you've been considering than by all means see whats out there now before they are gone.

houseflip101 · #2 12-13-2010, 08:17 AM

Has the house market inproved that much that do u think that now is the

time to proceed to buy,flip,or own?

Could you show us some states or market sale incress Yes the job market is down..

But any hope out ther is worth showing i myself would love for the market in home buyng decress in intrest so any help u can give or showing us would be great

flippinout · #3 12-13-2010, 12:38 PM

That is a beautiful house, and with the interest rates and home prices being low, now would seem like a great time to buy.

But as you said, with the economy being what it is these days, it would be so easy to get in over your head.

When you buy a house to flip and resell, you have to be sure that it is in an area where it will sell quickly and in our economically stressed area, selling it may not be as easy as you would hope.

So yes, by all means be careful that you dont bite off more than you can handle.

flip_it_fast · #4 12-14-2010, 03:08 AM

Now is a great time to buy. Interest rates are great and sellers are selling cheap. They either have to unload to try and avoid foreclosure or they are being foreclosed on. Banks need to unload the vast amount of houses that they have reclaimed. There are tons of houses on the market.

If you cannot afford it then no it's not the time to buy. If you can though, the interest rates aren't going to stay low forever. Now it most likely the best time. it's a buyers market.

flip_it_fast · #5 01-01-2011, 01:06 AM

Well I guess we can kiss the 4% mortgage rate goodbye! I hope you took advantage of it when you had the opportunity!

The average 30-year is now up to 5.02% and they say we won't see 4% again, at least not this year.

They say that the rate will most likely bounce between 5% and 6% all through 2011.

Quote:

"I don't think we're going back to a 50-year low anytime soon without an economic collapse," he said. "Rates will probably never revisit those levels."
The increase will push mortgage payments higher for homebuyers. When rates rise from 4.25% to 5% it takes away about 9% of buying power, according to McBride.
"That's nothing to sneeze at," he said. "But it's still small relative to the steep drop in home prices over the past few years."

They say this is a good thing for the housing market. Lets all hope so.

Experts say that people will now most likely realize that the rates aren't going to get any better and they will be all over getting a house before the rates go higher.

JaredfromIndiana · #6 01-01-2011, 12:37 PM

High inventory, low prices, low interest rates. Definitely a great time to buy. Interest rates are on the rise. I talked with my lender on Thursday and he said right now FHA 30 year is 4.85%, up from 4.5%. He is guessing that rates will rise to around 6%.

Before everybody GHASPS... that's still not bad. The 4.5% and lower are the LOWEST RATES IN HISTORY. Refis will suffer for most lenders, but in my opinion, it's still a good time to buy.