is it a good time to buy a house in michigan?
141627
Prices might be better if you wait about 6 months.
205893
With interest rates still at historically low levels, yes, it's a good time to build.\n\nTo stick to a budget, I suggest you develop a file of examples / a wish list of features you'd like in your house, and then contact perhaps two or three builders to discuss your project. Review the ideas you have with them. You should be able to get a feeling of whether you are comfortable with them. Choose someone you can work with. This is a long project. Ideally you will end it with a good relationship.\n\nDevelop a detailed itemization of exactly what will go into the house under your contract. Don't expect to add extras without paying more. The more you have throught the project through ahead of time, the better start you will have for staying on budget.\n\nHughes Home Builders does design-build projects like you are anticipating. Joan Hughes can work with you to develop the house you want within a budget you can afford. She will likely have other ideas, too. They built our home over 20 years ago and will be doing an addition for us in the near future. You can reach her at 508-693-3987.\n\nBest wishes for a successful venture and a great new home.
11986
Be careful buying right now unless you are planning to live in the house for more than 8 years.  Interest rates are going up and there are estimates out showing a slowdown and even a reverse in housing prices for the next two years.  If you do buy, go with a fixed rate mortgage.
156683
Housing in Naples has continued to rise over the past few years and will continue to do so in the future.  If you can afford to buy in Naples you definitely should.  The longer you wait the more expensive things will get.
413985
Well, I would definitely wait until these current housing prices bottom out. I'm not sure about the 7 year rule, because real estate is LOCAL. That means if you find a good deal in an area, don't wait to buy it or someone else will. Prices can crash in one area and stay strong in another. It all depends on the local economy.
1183730
The best time to purchase a house is when you're financially ready to do so.  Pay off all other debt, have a solid emergency fund in place and save up a good down payment. Purchase a home where your house payment is no more than 25% of your take-home pay on a fixed-rate (preferrably 15 yr) mortgage.\n\nDepending on where you live, you may want to wait until the housing bubble pops and prices have cooled off a bit.
847555
If the deal is right and stacks-up it is ALWAYS the right time to buy property - foreclosure or otherwise.\n\nIf you are buying for investments:-\n\nDoes the rental potential in the area mean it will cover its own mortgage costs?\nAre you buying at LEAST 15% below market value?\nIs the area up and coming?\nIs the property in good general condition?\nWill it be easy to rent?\nCan you get an interest-only mortgage for a competative rate?\n\nIf you can tick all of your boxes, then it is hard to see when there could be a bad time to buy property.\n\nIf you buy AT LEAST 15% below market value (ideally 25%+) then even if house prices fell - you are still on a great deal with built-in equity.
376
I think there is a lag in new home sales and the closings in October really were under contract in Aug and September, thus November numbers should be down dramatically even after seasonal adjustment. Rates will undoubtedly go up again at the next meeting, but with the advent of so many new mortgage products (interest only, reverse mortgage, etc.) money is still relatively easy but definitly more risky. I expect volume levels to slow, prices to flatten across most of the US but do not see a big drop in prices unless rates get above 8%.
1161848
No, in Florida the prices of land are skyrocketed. Land can only go up so much and we are at its highest peak. If you purchase land to sell in 2 months you will make no profit because the prices are so high. Wait until the land goes down and then invest.! Good Luck
278472
rent arizona is big and home prices can go down trust me \n\nwait until it slows and then buy at a bargain
352351
Actually it turns out recently that the value of mobile homes have not gone down as quickly as in the past.  It also allows you to possible buy the land that it is on.  You can also deduct the interest from your income tax.  \n\nIt is better to buy a stick built home if you can to have it appreciate in value, but who can afford it today?
26733
California is among the most overheated markets in real estate so buying now MAY get you into a financial mess by overpaying. Renting is always a waste of money. If you can get LAND at a reasonable price then building a home will avoid the profit you would pay a homeowner for an existing home. That's just my opinion.\n\nImran
644210
Well, I moved to Michigan because it's the one place I can afford to live, making enough money to pay the bills.  The healthcare is good and the schools are good for my daughter.  If money wasn't an issue I'd move somewhere warm and tropical, as long as the place had air conditioning.  but for now Michigan is where I want to live while I am growing up.
4950
It depends. Now is always a good time to buy a house if it's going to be your primary residence. Not only is owning going to take you out of paying rent and probably someone else's mortgage...there are tax benefits as well. There is no better feeling than ownership. It is also a way to force savings (when you pay principle)\n\nIf you are planning on buying a house for speculation or investment/rental...I'd probably hold off. People who are buying and flipping properties are creating this "bubble".\n\nI just heard on NewsTalk radio that there were 8000 homes for sale in the Phoenix area about 6-12 months ago...and right now there's over 20,000.
257397
Now is getting to be the perfect time to buy and hold. We just came out of a huge sellers market. Prices are not skyrocketing like we saw last year, and it is taking a lot longer for real estate to sell.\n\nNow is the perfect time to buy, interest rates are on the rise which really brings in a lot less buying competition, sooner or later interest rates will fall again, you can refinance and you will look like a genius, buying when everyone else was selling.\n\nBUY and HOLD, best wishes!!!
1159230
Hi Urban!\nNow that the housing market is finally looking up, it's the perfect time to seek out a new place to live. This summer you need to shake off that "lucky I even have my folks to live with" mentality, polish up your shoes, and explore your living quarters options! There are fun, flexible, fantastic places out there just waiting for someone like you!\nNow, get out there and pound the pavement. Beat on some doors until you latch onto that incredible tree house or fort you always wanted!\n(I heard  your area is a great place to find a cardboard box near a dumpster behind the pizza joint?)\n-viqueur
1016486
Here is an article I wrote about today's buyers market:\n\n2006 Year of the Buyer!!\n\nLets start with some facts from year 2005. Last year, we had a strong economy and we also enjoyed very low interest rates. Interest rates were the lowest in 2003, even though they have been creeping up each year gradually, the combination of low interest rates and strong economy fueled the housing boom; which seemed to have ended in 2005.\n\nFor 2006, seller’s need to keep in mind that the party is over. If you were holding onto your property in 2005, hoping to make more money in 2006, I got news for you: “You missed the boat.” But there are many things you can do still to enjoy the profits from the sale of your home like fixing up your home, replace that old carpet, repaint the house, etc, etc.\n\nI hope my readers (sellers) don’t think that I am trying to put them into panic mode. I am just trying to make you understand that in most areas you cannot hope to sell you home for the same price you could have sold in the middle of 2005. Prices have dipped a little and they are taking longer to sell but we still have a healthy normal market, which is where we really needed to be. Last couple of years were not normal markets, it was mainly a seller’s market but it got out of control in some areas of the country where they saw too much appreciation for their own good.\n\nI am NOT telling you that the market “bubble” is going to burst but it is definitely deflating and this my friends, will give buyers a very good chance to get a good deal on a home.\n\nPurchasing a home is an excellent investment, the Government subsidizes it, we still have low interest rates and over all Real Estate is the best investment you can ever make in your life.\n\nIf your are currently thinking but have not yet decided to buy a home, you should know that by the end of the year interest rates will be close to 7%, therefore you need to be very well prepared and do your homework early.\n\nIf you are currently thinking bout selling your home, understand your local market and do the fix ups and repairs needed to entice homebuyers and remember that buyers don want to spend more money on a home after they bought it.\n\n*********************\n\nYou can also find an article about the so called "buble" in the Real Estate market I wrote back in November 2005 and still stands\nFollow this link http://jrealestate.blogspot.com/2005/11/real-estate-market-bubble-burst.html