Good time to buy real estate in 2008.

C

Chapdog

Abreast of the situations
unlike all the negatives out there.. those of us planners who actually don't spend more then we make and save money.. Its a great buying opportunity in 08. Even if 09 is still poor.. you are getting close to bottom prices.

I may have to find something to pick up.
 
Chap, I do a long term price chart at anything I'm buying.
What's it up vs 1998?
doesn't matter if it's already down 30% if it went up more than 100% over that time
 
Topspin said:
Chap, I do a long term price chart at anything I'm buying.
What's it up vs 1998?
doesn't matter if it's already down 30% if it went up more than 100% over that time
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from 98? im not sure. from 2002 my area (house specifically) is up by 40%. used to be MUCH MUCH more.
 
Topspin said:
that's still roughgly 8% a year and it could easily go down another 10 to 20 %
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i say closer to 6% which is your rule of thumb ;) also i noticed the 120 and 90+ day lists are starting to shrink up a bit. we got hit hard and first. we may recover closer to front of the pack.
 
true you guys have one of the best markets.
6% is the extreemely long term inflation rate on housing. I think it should be lower but with the fed printing money it'll prob be at least that for you over the next 20yrs.
 
Desh said:
Im waiting another year at least , more fallout to come.

I am waiting for the bottom.
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The time to buy is when everyone hates real estate, this is when it has hit bottom.
where are we on the curve:
investor-sentiment-web20-tech.jpg
 
Umm buying in 08 depends on how bad things get and will you income be in jeopardy. If you are secure it will be a great time to buy by mid year.
sometime after that I expect interest rates to climb.
 
that's a funny chart, and true but???
We've had our first down year in real estate, you think this thing is only a one year deal. It might be or we might have a couple more down years.
 
Topspin said:
that's a funny chart, and true but???
We've had our first down year in real estate, you think this thing is only a one year deal. It might be or we might have a couple more down years.
Click to expand...

all i know is that when i search the listings now you can buy investment properties that yield positive cashflow. that was unheard of just a couple years ago.
 
Chapdog said:
all i know is that when i search the listings now you can buy investment properties that yield positive cashflow. that was unheard of just a couple years ago.
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As always, with real estate we are talking national trends. The individual markets will have varying lengths of downturns (if any). They will also move through that curve you displayed at different paces.
 
less than a qtr ago we were coming off 100,000 job adds per month and 4.5 gdp not that you guys follow this stuff.
 
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