6/22 Have housing prices come down in the past few months? I'm a potential
condo/house owner.
\_ no.
\_ Prices have come down for over-$700K homes, most definitely. But
for condos, expect prices to be about the same; but you should
have less competition in the market. A townhome across the street
from mine was in the mkt for 2+ months before being sold for $20K
less than asking price. (this is in inner East Bay) Depending on
where you are, I think things are getting slightly better, although
my advice to you is probably to buy in the Fall after the dust
settles and kids are going back to school (think parents, school
district, etc.) Hope this helps!
\_ one thing to keep in mind is that there is less supply, usually,
in the fall, and prices might continue to rise by then as well,
if this market continues to sizzle.
\_ Do not gamble. Find the house you like most with-in your price
range and buy it now. If the OP gambles and loses they'll be
really fucked later. If they gamble and win, they might save a
few bucks or get a slightly nicer house but there isn't going to
be any dramatic upward *or* downward pricing in only a few
months. Forget housing prices. The real cost is in interest
expenses which are *much* more likely to rise by Fall rather
than decline any further. They're already rock bottom low. You
may not see rates like this again for the rest of your life.
--Happy homeowner who no-cost refied from 30yr/7.8 to 15yr/6.3 |