[futureNoStamforder]

Hi everyone. 1st time poster, looking to buy in North Stamford. Does anyone have projections on housing prices in N. Stamford, in the near future and then further out?

Is now the time to buy, or should we wait a few more months?

Thanks!

[Stratford, Ct. Resident]

Originally Posted by futureNoStamforder

Hi everyone. 1st time poster, looking to buy in North Stamford. Does anyone have projections on housing prices in N. Stamford, in the near future and then further out?

Is now the time to buy, or should we wait a few more months?

Thanks!

My thoughts on North Stamford proper(06903 zip code) are that the area saw massive appreciation in values during the last run-up. Prior to the bubble(~'98), 06903 seemed to be valued at about half of neighboring 06840(New Canaan). It probably was a bargain at that time, but not know, IMHO. I'd seriously look at New Canaan as the price disparity between it and 06903 are nothing like it used to be. If you like something in North Stamford and you don't have a need for public high-school education, i wouldn't hesitate to live there. I just don't see it as being nearly the bargain that it had been, and do feel it's overvalued. I'm not a professional though. Just my $.02.

[JayCT]

If anyone here could tell you if the real estate market has hit the absolute bottom, they would be a millionaire. Maybe even a billionaire. No one knows for sure. All I can say is that prices have come down, interest rates are low and the economy may be starting a LONG path to getting better. Of course, any decision on whether you should buy or not is up to you. Jay

[larsm]

The liklihood of this being the bottom (recent price "increases" are all about seasonality and not YOY gains) is very small; and even if it is, prices will not be appreciating in any real way anytime soon. So waiting is to your advantage.

That having been said, if you find a house you really like and it is priced well (by that I mean early 2000 pricing (1999-2000-2001 values) then a purchase could make sense. That is not to say you won't still "lose" money, but your downside risk should be reasonable.

A very good blog for what is happening in the Greenwich market (which can be extrapolated to lower FF county) is For What Its Worth. Maintained by Chris Fountain an honest, steely eyed broker in Greenwich. No affliation, blah, blah, blah...