Question: when is the best time to buy property?
Answer: When everyone is panicking and selling at lower than average prices.
For small property developers in the US this is a great time to buy property as you may be able to buy at great prices.
The S&P/Case-Shiller® U.S. National Index Home Price Index has fallen another 3.2% in the 3rd quarter of 2007 and average prices of new homes have now fallen by 9.7 per cent to $238,000.
This is good news for small property developers who are not afraid of going against the crowd and therefore pick up some bargains.
We seen this kind of thing in America in 1991 when house prices crashed only to recover 6 months later. I am not saying this is the same kind of scenario but it certainly is a buyers market if you the guts.
The one good indicator that now is a good time to buy and that a recovery could be on it’s way soon is that house prices have not fallen across America. A lot of people have overlooked this fact, perhaps listening to the ‘Armageddon’ speak of the press. House prices in states such as Washington and Oregon are still rising. So, the so called ‘Crash’ is not uniform. However the cost of resale homes in some parts of Orlando means you can now pick up a 4 bedroomed house with pool for £120,000, which is 30% down on June 2006 prices.
Coupled with the great rate on the dollar, America is now a distinct possibility for buy to let investors and small property developers.
Popularity: 34% [?]
December 13th, 2007 at 4:39 am
If you are debt free…are rich and/or can afford it.
December 13th, 2007 at 1:17 pm
problem with your theory is that house prices in most markets have been as much as 200% higher in the last 2 years than they were in 2001. That’d be fine if inflation had been anything close to that, but inflation has been chortling along at 3%.
December 15th, 2007 at 11:05 pm
if you have no debt then go . and a lot of money …
December 17th, 2007 at 3:15 am
We’ve seen a definite uptick in European and British interest here in Charlotte NC–the top appreciating market in the US through 3rd quarter 2007. Check out the Charlotte Real Estate Market Reports at CharlotteCommunitiesonline.com
December 17th, 2007 at 12:18 pm
Hi Sirjorge, everybody can make money in real estate and you don’t have to be rich, you just need to know how to manage your money and how to leverage your money.
Hi karl, in another 7 years time the house prices will have doubled again, so better getting in now. House prices double every 7 years or so (avergae figure).
Hi Terry, thanks for the link, I will check it out.
December 18th, 2007 at 8:36 pm
It is a great time to buy in the US. Rates are down, sales are slow (which makes the average owner think it will never sell because they are used to the last few years of 15-30 day sales) and although some areas are rising in price the areas that hold the best value are way down at the moment. IE California, New York, Nevada, Florida…
Check out some of our Utah Properties at http://www.UtahLuxury.com
January 2nd, 2008 at 2:35 am
I think some areas of Texas, example Houston is becoming a really good real estate buying opportunity.
January 2nd, 2008 at 8:51 pm
I was tempted to buy a 4 bed detatched property in florida about 7 years ago , i bought a place in javea on the costa blanca instead. i wish i could have bought both , but hey you never know what the future holds.
January 14th, 2008 at 7:41 pm
how much would an average house in america cost up to or a flat liek renting?
January 22nd, 2008 at 11:05 am
I would agree that if you live the offer side of the pond, then there could not be a better time to Buy America. Not only do you have bags of choice, but its half the price. New York is especially good value for our UK counterparts!
January 23rd, 2008 at 1:10 am
Think you may find that lower down south could be better value than somewhere like New York, what about Florida, that’s a favourite place for Brits.
February 27th, 2008 at 1:10 pm
Definately a time to buy in the US
My advice for people if they are looking to invest in small value, one or two properties, is to look at capital cities within individual states. They are more expensive than other parts of the countrysuch as Florida but you are not going to lose.
April 9th, 2008 at 10:05 am
How long can I stay in the USA at any one time if I buy a property there?? Thanks
May 15th, 2008 at 3:25 pm
I am looking to buy a condo/flat/house in the USA, any State. But not a citizen, how do i come about what are the requirements? or is it even possible? Thanks
May 15th, 2008 at 3:26 pm
I am looking to buy a condo/flat/house in the USA, any State. But not US citizen, how do i come about what are the requirements? or is it even possible? Thanks