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As a first time home buyer, I want to take advantage of the incentives. And my fear is, that if I keep waiting for prices to fall, next thing ya' know they're on the rise and I missed the boat. So for me, one way or the other, I'll be closed on a house before the incentives end.
Many areas of South Dakota had an inc. in values last year according to MLS sold prices. Not sure if such a general statement would be wise to follow in any market - the first few months are looking good as well (Lead Deadwood area). Need I say -- everyone's bottom is different.
As a first time home buyer, I want to take advantage of the incentives. And my fear is, that if I keep waiting for prices to fall, next thing ya' know they're on the rise and I missed the boat. So for me, one way or the other, I'll be closed on a house before the incentives end.
But that's just me :O)
Simon.... you won't have to worry about "missing the boat". Housing has never had a equities market like rebound in history. Of course the lying real estate industrial complex would have you believe that we'll skip the bottoming process and magically return to 2005 prices. Not only will the bottoming process take years, the coast on the bottom will be years also. Never will we return to 2005 prices in our lifetime. The bubble was an unprecedented anomaly.
Out of all the people who are "bullish", or at least "anti-bearish" - this would include most of the people on page 1 -
How many of you are unbiased? That is, how many of you don't own or sell real estate?
I am both a buyer and a seller. Right now I'm selling, but as soon as I do, I'll be buying. I'm actually helping a family member buy right now.
It has nothing to do with whether I'm bullish or bearish. If I saw ten threads about how to paddle a boat, I'd be saying, hey, can't you instruct on paddling a boat in ONE thread.
Thanks for the heads up on the troll situation, Silver. I promise not to feed the trolls anymore. I did not know! Yet another one for the ignore list!
Never will we return to 2005 prices in our lifetime. The bubble was an unprecedented anomaly.
Unless you're on the way out, they will, due to inflation alone, which the US has had every year except this since 1955 (making this year the anomaly, as prices reset).
I suspect that most of us are going to see several more bubbles and bursts in our lifetimes, which will even out to that 2-4% annual inflation we've averaged for 50 years.
Of course, the hope is that by the time the 2005 housing prices return, everything else (incomes AND cost of living) will have increased too and housing, even at those numbers, will remain affordable.
Okay - I have a silly question... what exactly is a troll (in internet terms)? I always thought it was someone who skimmed pages for knowledge (like trolling for shrimp, etc. on the coast) but, I now think it's something negative. Could someone please clarify?
FYI - Home values are up in my area also - over last year. My agent seems to be doing a fairly healthy business in closings. A lot of those are starter homes being sold which should (hopefully) lead to larger homes being sold. I'm always looking for the positive!
Unless you're on the way out, they will, due to inflation alone, which the US has had every year except this since 1955 (making this year the anomaly, as prices reset).
I suspect that most of us are going to see several more bubbles and bursts in our lifetimes, which will even out to that 2-4% annual inflation we've averaged for 50 years.
Of course, the hope is that by the time the 2005 housing prices return, everything else (incomes AND cost of living) will have increased too and housing, even at those numbers, will remain affordable.
Inflation adjusted houisng prices were flatter than a pancake for over 100 years then became detached from reality only because high finance considered anyone with a pulse. Thats all different now. Further, ANY increase in housing prices will require rising wages. Considering wages have been flat and/or falling since 2000, grossly inflated housing won't occur again within our lifetime. Besides, it's a long way to the bottom..... a long way. And any suggestion that price are going up (laughable on it's face and absurd once the data is reviewed) is clearly delusional.
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Yet another one for the ignore list!
