Atlanta Homes, is it a good time to buy? (fit in, sales)

[scgraham]

While some might say that I would be a bit bias, this article tends to back up my contention.

[Iconographer]

Looks like a pretty self-serving article to me.

[BobKovacs]

I'd say everyone involved in that article is biased too- a relocation magazine, homebuilders, etc.- so how do they "back up your contention"? That's like asking a bunch of used car salesmen if you should buy a car from their lot.

That aside, it's a better time to buy now than it was a few years ago, provided that you're willing to accept the fact that your house may go down in value for a while before it starts to go back up, and if you're willing to stay in your house for more than a few years. If you're looking to buy a house and resell it at a huge profit in two years, or if you're not sure if you're ready to commit to an area for the long-term, now is definitely not the time to buy.

[scgraham]

How about this one from CNN.com & money magazine

"The best place to buy a home these days"

[Buckhead_Broker]

I think the best time to buy, assuming you're primary objective is getting the lowest price, is going to be somewhere between this Fall (Oct/Nov) and Summer of 2010. We've got a long way to ride this mule before we get to the other side!

[scgraham]

Originally Posted by BobKovacs

I'd say everyone involved in that article is biased too- a relocation magazine, homebuilders, etc.- so how do they "back up your contention"? That's like asking a bunch of used car salesmen if you should buy a car from their lot.

That aside, it's a better time to buy now than it was a few years ago, provided that you're willing to accept the fact that your house may go down in value for a while before it starts to go back up, and if you're willing to stay in your house for more than a few years. If you're looking to buy a house and resell it at a huge profit in two years, or if you're not sure if you're ready to commit to an area for the long-term, now is definitely not the time to buy.

One could make that argument for any investment, not just housing. If all investments were guaranteed, then it would not be an investment at all.

[scgraham]

"Still, the data suggest that the declines in sales and prices may be slowing. 'While it remains too early to definitively call a bottom, we continue to argue that home sales will stabilize [albeit at very low levels] by midyear,' said Stephen Stanley, chief economist at RBS Greenwich Capital, in a note to clients."

Home Sales Fall, but Signs of Stability Emerge

[BobKovacs]

Originally Posted by scgraham

One could make that argument for any investment, not just housing. If all investments were guaranteed, then it would not be an investment at all.

See, therein lies the problem. It's only in the past decade that housing started being thought of primarily as an "investment" as opposed to "someplace to live and/or raise a family". If people started thinking more long-term, and saved/invested money like our parents did, instead of relying on their homes to be their financial source and retirement fund, maybe we wouldn't be in the mess we're in right now.

[Iconographer]

Originally Posted by BobKovacs

See, therein lies the problem. It's only in the past decade that housing started being thought of primarily as an "investment" as opposed to "someplace to live and/or raise a family". If people started thinking more long-term, and saved/invested money like our parents did, instead of relying on their homes to be their financial source and retirement fund, maybe we wouldn't be in the mess we're in right now.

Too true...people act like this is the first time in history that you could actually lose money on the sale of a house, but 40 or 50 years ago it was quite common.

[scgraham]

Originally Posted by BobKovacs

See, therein lies the problem. It's only in the past decade that housing started being thought of primarily as an "investment" as opposed to "someplace to live and/or raise a family". If people started thinking more long-term, and saved/invested money like our parents did, instead of relying on their homes to be their financial source and retirement fund, maybe we wouldn't be in the mess we're in right now.

While it isn’t one's primary investment, it is nonetheless an investment for many.

In my opinion, the population growth in Atlanta -- which is alluded to in the article -- should become a compensating factor for a stabilizing real estate market.