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I have been looking for 8 months. I expect I will buy when the sellers finally figure out that they can no longer sell a house they paid $40K for 5 years ago for $250K.
I imagine it will be at least another year before the sellers figure it out. By then there will be more bank owned property on the market than anything else.
No even an hour ago my husband & I made the decision to rent for a year and see what happens. There are thousands of rentals here as well. New construction that the builder got stuck with and can't sell, people who have moved already & can't sell, people who would like to move & can't sell......
We are planning to buy in the next year or two. We own a couple of properties and will be selling them then moving (hopefully back to Calif.). We'll see.
We currently rent an apt. We plan on buying soon after my wife finds a job. Builders are offering big incentives here (25-30k off all inventory homes).
I don't plan to buy until the market calms down again.
Prices may go up or down incrementally, but I don't think we'll see anything dramatic anymore (at least in my location), so I'm willing to wait it out and see where everything lands.
In the meantime, I'll make some slight improvements to the home I'm currently in and try to keep it on-trend.
Could a category be added to the poll? "Will buy when my house sells"
That seems to be what I commonly hear from potential Buyers right now.
Gretchen, great point! I'm not sure how to revise a poll once entered? Any idea?
Duane
Last edited by Zmehappy; 08-20-2007 at 04:33 AM..
Reason: wording
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3-4 years
