What's your opinion on the housing market?

[lisa g]

Just heard on the news that it's projected to become more dire this next quarter.
With the market being this bad, I would recommend renting for as long as it takes........which appears to be a while.
yes, it is definitely a buyers market and buying low is great for those who are in the market to keep a home long term. But, what is going to happen to the realtors whose livelyhood is dependent upon commissions from sales?
I do not believe that the larges drops are necessarily behind us.
First of all let us not be condescending!
We know the difference between a buyers and sellers market.

[fren c]

first of all lets understand what being in a bad market means. to realtors it means less sales or lower sales. everyone is getting wrapped up it catch phrases. yes the market is tough right now for people trying to sell a home and the people who would sell the home for you and the finance companies. that does not mean its a bad time to buy!

the fact is its a great time to buy ahome with record number of homes selling and fewer buyers it has become a buyers market! that means simply its the best time to buy a home plain and straight!
when you buy a home its usally for the long haul and you plan to be in the home for 10-30 years. the fact theat prices are lower now means nothing for someone wanting to stay in the home for 10 years or more! why would a home buyer care if home prices start to climb 6mo- 1 year after they buy. remember home values will climb and the best way to get the best return is to buy low that time is mow!
the largest price dropps are now behind us and although prices are still slowly falling in some markets most are starting to stabilize.
now is the best time to buy a home with sellers offering lower prices and seller concessions to sell fast! get out there make an offer below asking price and ask for up to 6% seller concessions and make your dream come true. ther are many people out ther with two homes and taking low offers on homes just to get out from under thier investment property

WAIT TO LONG AND YOU WILL BE CHASING RISING HOME PRiCES!

[getitnowgirl]

Obviously, some people are still hanging on hopes that the prices won't keep slipping. Not true; It's a buyers market and will be for at least another 2 years.

I say wait and watch the market. Most new homebuilders have been getting killed on the stock market and they will have to dump their properties (KHov is currently offering buy one get one free in my area). This glut of new homes in the market will only make it harder for homeowners to sell their homes. This coupled with the reality that most people can't afford the prices that some home sellers are demanding without an ARM or some kind of assistance means that prices will have to decrease.

[qman]

I'd rent for another year if I weren't already a homeowner. Luckily I downsized 18 months ago to a cheaper house.