Will Homes Ever Be Cheaper Than Now?
There is no way to know that for sure right now but I feel if you don’t buy sometime this year you will have missed out. Now it does depend where you are buying because everything is local. My personal opinion is that now is the time to buy in Fort Lauderdale and the South Florida area. You need to be sure you are buying in a good area, with good schools, etc. as it’s tough to generalize and say everyone is good to buy because I don’t feel that is the case.
Check out this article from CNNMoney – “Buying a Home Won’t Get Much Cheaper.”
“That could have a significant impact on the market overall in terms of providing a rising floor to home values,” he said.
In some markets hit hard by foreclosures, the turnaround in prices is already underway. Phoenix recorded an 8.4% jump in home prices during the three months ended April 30, compared with the three months ended January 31, according to Clear Capital.
“It’s crazy,” said Tanya Marchiol, founder of Team Investments, a Phoenix real estate investing firm. “Stuff I was selling six months ago for $60,000 to $80,000 is now $90,000 to $110,000.”