It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by JohnnyAnonymous
I lean with "infinite8" on that thought. You should hold off a bit longer, the real deals should start in '07'. Although Real Estate is not my forte' of knowledge (I trade currencies in the FOREX), many associates that I communicate with daily that invest in Real Estate are forecasting the same.
Don'y buy just yet, the number of foreclosures will only increase for another 6 months to a year. Then you will be able to get something at a more reasonable price.
Originally posted by Crakeur
if you want to buy a house, do so with the intention of keeping it for a while. anyone who buys now and is expecting to upgrade in the next few years is going to have a hard time doing so. There's a crapload of adjustable rate mortgages that are going to enter the adjustable phase in the next 6 months to a year and there will be many people who cannot afford the new rates. The housing market is expected to drop dramatically in many areas in the next 6 months to a year and there should be plenty of bargains this time next year.
Originally posted by phoenixhasrisin
I haven't heard anything about prices dropping 50%, not saying that isn't that case, but it definitely isn't the case in suburban Cali. Nor was it during the 80's either. Prices did decline, but nowhere near 50%.
Originally posted by phoenixhasrisin
out here in the 80's prices declined after the boom, but only by 50k or so, after they had already appreciated to 150-250k. Then this recent boom came, and the prices have just soared from there.
Originally posted by phoenixhasrisin
Of course in that sort of situation where 50% of value is lost, people are just plain screwed.
Originally posted by phoenixhasrisin( I like how you mentioned that this was a new client)
"We're in a definite market cycle. The market is adjusting right now," said Ed Krafchow, president and co-owner of Prudential California, Nevada and Texas Realty. "We're not in a buyer's market. We're in a buyer's sympathetic market."