I'm seeing more and more real estate available for less and less. What was once selling for $500k is now selling for $200k and that made me think.... Has real estate hit bottom? Is now the time to buy?
What do you think Active Rain? Is now the best time to buy? Or should buyers wait a little longer?
Hi Craig, Depends on the area. Many parts of the country are showing marked increases in sales and prices firming. The combination of financing and lower prices may suggest that this is probably the bottom in many areas.
The Albuquerque market is not showing an increase in sales, but inventory under 150K is moving pretty fast thanks to the first time homebuyer credit. Of course I need to say that the market here has not suffered nearly as much as it has in other parts of the country.
Vegas is HOT! HOT! HOT! Properties are selling like there's no tomorrow. And though we hear that more foreclosures are coming, we can't seem to keep up with the demand. As of today, 24,022 listings (condos, townhouses and single family homes) out of which less than 47% show available, and 30-40% of those are juggling multiple offers. So in Las Vegas, this answer is buy now!!!!
Craig - My belief is that it is always the right time to buy the right peice of real estate.
Comments(5)