House Hunting Tips: When Should I Buy?
Happy New Year from Trulia!
Between the subprime and mortgage crises, 2007 was certainly a rollercoaster year for real estate. So what’s in store for 2008? While we’re no fortune tellers, you can use the resources on Trulia.com to answer the question on every house hunter’s mind: Is now the right time to buy?
Check out local pricing trends, sign up for email alerts on your favorite properties, and get the scoop on your local market conditions from real estate enthusiasts on Trulia. Meanwhile, we’ve put together a list of Q&A from other home buyers to help you get started.
What are your local market conditions?
And how long do you plan on living in the home? Read on to find out what real estate pros recommend for one San Diego home buyer.
Q: Is a good time to purchase a condo in downtown San Diego… or do you think prices will still go down further?
Asked by Ray, Home buyer & seller in Bollingbrook, IL
Do you need to sell in order to buy?
If so, are you moving to a new city or state? Timing is even more important to home buyers planning to sell their primary residence and move to a new market. Check out the recommendations for one home buyer moving cross country and changing jobs.
Q: My husband and I are moving to Colorado as soon as our home in Illinois sells… Will we be able to buy a home without employment since we’ll have a 20% down payment?
Asked by Sueo, Home buyer & seller in Bollingbrook, IL
How will financing options look next year?
And what can you do to make sure you have the financing you need? One home buyer from Dublin, CA gets some free facts and predictions from real estate pros.
Q: Any idea how tough will it be to get 100% financing next year?
Asked by Faa, Home buyer Dublin, CA
Affordable winter retreats
If you love the idea of a snowy getaway but don’t want to clean out your retirement account, consider timeshares, fractional ownerships and nearby cities in your search… and hit the slopes!
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$147,000 Stowe, VT 3br / 3ba 2,500 sqft Fractional ownership |
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$29,500 Vail, CO 2br / 2ba Prime week timeshare |
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$272,400 Reno, NV 3br / 2ba 2,305 sqft Nearby deal |
Like what you saw here? Read more, including celebrity house sightings here. Stay tuned for more home buying tips and sign up for the House Hunting email newsletter here.
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Minnesota & Wisconsin Lake Property said,
January 17, 2008 @ 7:22 pm
this article is very helpful for people who want to buy house.
Lisa said,
January 18, 2008 @ 5:17 am
Interesting that you mention fractionals in this post and list the Stowe fractional. I was previously told that Trulia was not accepting fractional listings. Does this mean you have changed your policy and are now not only considering them but also promoting them?
Elain, marketing specialist said,
January 21, 2008 @ 3:11 pm
Hi Lisa,
Thanks for your feedback. We do accept fractional listings from our feed providers, but it’s not a type that we have historically promoted heavily. If you have any further questions, feel free to send them our way at customerservice@trulia.com
Thanks!
Elain
Tom Day said,
March 6, 2008 @ 12:05 pm
Don’t try to time the market. If you need a place to live for the long term it makes sense to buy now. We can’t know when the bottom was until prices have already started to go up significantly. Whatever you are paying in rent while waiting for a bottom can never be recovered. Mortgage interest is tax deductible, rent is not.