Comments on: Are the price of homes in Phoenix- Scottsdale area in Arizona going to go lower? Should I buy now or wait a ? http://arizonahomeslocator.com/123/are-the-price-of-homes-in-phoenix-scottsdale-area-in-arizona-going-to-go-lower-should-i-buy-now-or-wait-a/ Find Arizona Homes Wed, 10 Mar 2010 06:55:46 +0000 http://wordpress.org/?v=2.8.4 hourly 1 By: budding author http://arizonahomeslocator.com/123/are-the-price-of-homes-in-phoenix-scottsdale-area-in-arizona-going-to-go-lower-should-i-buy-now-or-wait-a/comment-page-1/#comment-240 budding author Sat, 21 Nov 2009 20:03:01 +0000 http://arizonahomeslocator.com/123/are-the-price-of-homes-in-phoenix-scottsdale-area-in-arizona-going-to-go-lower-should-i-buy-now-or-wait-a/#comment-240 This is not just a local question, it affects all of us, even the UK! All we can do on this forum is give our opinions, then you make up your own mind. OK here is mine (not only for America):- Before this present crisis housing was overpriced, the main reason for this was the old question of supply and demand, not enough houses being built to satisfy the demand, but credit was easy folk need housing they borrowed, and paid the price. There is no doubt in my (little) mind that prices will keep dropping where ever you are, but for how long, is any ones guess. So here is what I would do, buy now, grit your teeth when you see the price drop more, but be very happy in the knowledge that within a few years the prices will for sure shoot right up again, almost to the same or even higher than the pre crisis boom. The reason for that is the same , supply and demand, no houses are being built anywhere now, folk cant afford to buy, builders cant afford to build! But folk still need housing, credit restrictions will eventually ease , we will borrow again, we will buy again. Go for it now! This is not just a local question, it affects all of us, even the UK!
All we can do on this forum is give our opinions, then you make up your own mind.
OK here is mine (not only for America):-
Before this present crisis housing was overpriced, the main reason for this was the old question of supply and demand, not enough houses being built to satisfy the demand, but credit was easy folk need housing they borrowed, and paid the price.
There is no doubt in my (little) mind that prices will keep dropping where ever you are, but for how long, is any ones guess.
So here is what I would do, buy now, grit your teeth when you see the price drop more, but be very happy in the knowledge that within a few years the prices will for sure shoot right up again, almost to the same or even higher than the pre crisis boom.
The reason for that is the same , supply and demand, no houses are being built anywhere now, folk cant afford to buy, builders cant afford to build! But folk still need housing, credit restrictions will eventually ease , we will borrow again, we will buy again.
Go for it now!

]]> By: macarthur1977 http://arizonahomeslocator.com/123/are-the-price-of-homes-in-phoenix-scottsdale-area-in-arizona-going-to-go-lower-should-i-buy-now-or-wait-a/comment-page-1/#comment-239 macarthur1977 Sat, 21 Nov 2009 19:33:00 +0000 http://arizonahomeslocator.com/123/are-the-price-of-homes-in-phoenix-scottsdale-area-in-arizona-going-to-go-lower-should-i-buy-now-or-wait-a/#comment-239 If you have the money, the housing market in Arizona, Nevada, California and Florida has great discounted prices. Right now, the government is trying to decide what to do with all of those "toxic mortgages." There's been an uptick in buying in the last two months, mainly from those looking for bargains. I doubt if the home prices in devastated regions would rise much. If anything they might get cheaper, depending on how the government handles this mess. There is way too much over leveraging already and a scarcity of credit that makes the big players hestitate about rushing in to the housing market. It's going to take about two to three years to erase the debt from the books, and once that is done, home prices will rise again. Right now it's a good time to buy simply because of the bargains out there, nevertheless it's still dangerous time to buy because of all of the uncertainity on Wall Street. If you have the money, the housing market in Arizona, Nevada, California and Florida has great discounted prices. Right now, the government is trying to decide what to do with all of those “toxic mortgages.” There’s been an uptick in buying in the last two months, mainly from those looking for bargains. I doubt if the home prices in devastated regions would rise much. If anything they might get cheaper, depending on how the government handles this mess. There is way too much over leveraging already and a scarcity of credit that makes the big players hestitate about rushing in to the housing market. It’s going to take about two to three years to erase the debt from the books, and once that is done, home prices will rise again. Right now it’s a good time to buy simply because of the bargains out there, nevertheless it’s still dangerous time to buy because of all of the uncertainity on Wall Street.

]]> By: Steve D http://arizonahomeslocator.com/123/are-the-price-of-homes-in-phoenix-scottsdale-area-in-arizona-going-to-go-lower-should-i-buy-now-or-wait-a/comment-page-1/#comment-238 Steve D Sat, 21 Nov 2009 18:51:36 +0000 http://arizonahomeslocator.com/123/are-the-price-of-homes-in-phoenix-scottsdale-area-in-arizona-going-to-go-lower-should-i-buy-now-or-wait-a/#comment-238 I wouldn't count on much if any appreciation in housing prices in the near future. Regardless of who would have been elected, the housing problems will not be solved instantaneously as the credit/financial market problems that led to the present situation are embedded in the current system and it will take time to work out the necessary solutions. No one can really tell what prices will do in a specific area - they can only guess. I wouldn’t count on much if any appreciation in housing prices in the near future. Regardless of who would have been elected, the housing problems will not be solved instantaneously as the credit/financial market problems that led to the present situation are embedded in the current system and it will take time to work out the necessary solutions.

No one can really tell what prices will do in a specific area – they can only guess.

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