[PinkString]

As for the original poster's question: Rent! 4 years goes by so fast, especially the older you are, it will seem like 1 year. lol

[airics]

i meant in the northeast

[Chest Rockwell]

When the concensus becomes buy, buy, buy, does that mean the end of the downward spiral in real estate prices?

[airics]

i am starting to notice something.. my real estate agent sends me the bank owned props that are newer than 2004 and priced lower than 275k.. a few months ago the houses were fairly large 2200-2500 sf in the 250-275 range and the smaller props (1900-2200sf) were floating around 220-240.. now i notice the 250-275k are all around 2100sf and 220-240 are around 1500-1800sf am i missing something here? seems like the dust is trying to settle (i know im going to get a ton of comments saying im nuts) or maybe the banks are trying to get closer to what is owed.. i agree with the posters saying to buy now, maybe a little lower in a couple of months, and then the buys will be harder to find in june.......

[olecapt]

Originally Posted by Chest Rockwell

When the concensus becomes buy, buy, buy, does that mean the end of the downward spiral in real estate prices?

Probably.. There is a lot of subjectiveness to the RE market. At the moment the Banks are bombing the price on REPOs. Eric Young was not kidding when he said the median home price in Las Vegas was dropping a percent per week. Some places though are not showing such a pattern. Sun City Summerlin for instance appears to have been basically flat for the last four months.

Sales are very low. SFRs are slow and condos are slower yet. And this is in the face of consistent and continuing population growth.

So it will take very little to start the market moving upward...simply because it has gotten so low.

[airics]

i notice that to.. my home that i am purchasing is in Pavona Estates close to Aliante and it must have been a fluke that i was able to purchase this home so cheap, no other repos around and the other comparable homes are at least 50k more and are smaller. You never know what is going to happen.. as for the my home in North Las Vegas, everybody says sell sell sell, i tend to disagree, i am going to rent rent rent.

[rsjmiller]

4 years will go by fast, but the last four years we've lived in 4 different homes. One of which was a condo we lived in for 9 months, and made a $35k profit from. But this is Utah I am talking about, and it was just last spring. Condos sell pretty well here, considering houses and property have been rising and getting harder for young families to afford. I'm not saying the market it great here, it's just not as hard hit as the rest of the country.

Last summer my sister-in-law bought a home in Vegas for around $425k, and she said it would be hard to sell it for $350k now. Luckily they will be staying indefinately, and can ride out the market. But for us, buying and staying for 4 years may be a little risky? I am encouraged by it being called a "buyers market" though, because I think it is! I'd hate to be a seller right now!

[Randy Culture]

House prices have only just started to go down. Wait a decade to buy.

[LVNeptune]

I bought my house (not much and it's my first house) for 130k...My mortgage payments are sub $900...it's cheaper than rent.

[airics]

bingo! you would be insane to wait a decade!!!!