Saturday, February 28, 2009

To Buy Or Not To Buy A Home This Year?

This message was posted by a member on one of my Groups at Yahoo.
It is an article from the Chicago Tribune.

Five reasons to buy a home this year
Affordability returns to housing, and buyers have loads of negotiating power
By Amy Hoak, MarketWatch
Last update: 7:52 p.m. EST Feb. 27, 2009
Comments: 376

This story originally published Feb. 6 has been updated to reflect the passage of the economic stimulus bill.

CHICAGO (MarketWatch) -- People are afraid to buy a home in times like these, with the economy tanking and home prices continuing to fall. But if you're brave enough to stray from the herd, you might be in for the home-buying opportunity of a lifetime.

Ask for price reductions, improvements, closing costs -- whatever -- and the seller, desperately trying to get a contract, is very likely to work with you, said Jay Papasan, one of the authors of the book "Your First Home." When the market starts improving, your negotiating power starts to diminish, he added....

http://www.marketwatch.com/news/story/five-reasons-buying-house-now/story.aspx?guid={01DA1B93-91D1-49E4-A1B1-0ACA9CE66FF4}&siteid=yahoomy

This story originally published Feb. 6 has been updated to reflect the passage of the economic stimulus bill.

Five reasons not to buy a home this year
Homes are more affordable, but don't rush -- prices won't skyrocket soon
By Amy Hoak, MarketWatch
Last update: 7:52 p.m. EST Feb. 27, 2009

Comments: 502

This story originally published Feb. 6 has been updated to reflect the passage of the economic stimulus bill.

CHICAGO (MarketWatch) -- The unemployment rate is creeping up and home prices keep falling: Two great reasons why it might be best to put your home buying plans on hold.

After all, your own job could be the next on the chopping block. Plus, why not wait until home prices have reached their bottom and you can safely buy knowing your new house won't depreciate like a car coasting out of the dealership?

http://www.marketwatch.com/news/story/five-reasons-buying-home-2009/story.aspx?guid=%7B22185FBD%2D7F44%2D4A49%2DA604%2DA29D4225E122%7D&dist=TNMostRead

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