Comments on: How’s the Real Estate Market? July 2007 Real Estate Market Statistics http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/ Central Connecticut Real estate news, advice and opinion combined with pet friendly resources and help for homeless pets by REMAX agent Jessica Beganski. Tue, 7 Sep 2010 00:28:29 +0000 http://wordpress.org/?v=2.3 By: berealct http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-411 berealct Fri, 31 Aug 2007 19:22:45 +0000 http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-411 I think buying a house makes sense if you can buy at a good price (a little or a lot under "market value"), you can afford the mortgage (and have some play money still), you're going to hold onto it for a few years, and you want the responsibility. Interest rates are great, there is a good supply of houses which increases your chances of buying under value, and buying is much more likely to earn you some money when you sell. Buying doesn't make sense if you're not going to stay in it, you don't have any money to put down, you can rent for cheap and save money, you have bad credit or you're going to try to flip it without any previous experience. Those are some scenarios where I would stay away from buying. I think buying a house makes sense if you can buy at a good price (a little or a lot under “market value”), you can afford the mortgage (and have some play money still), you’re going to hold onto it for a few years, and you want the responsibility. Interest rates are great, there is a good supply of houses which increases your chances of buying under value, and buying is much more likely to earn you some money when you sell.

Buying doesn’t make sense if you’re not going to stay in it, you don’t have any money to put down, you can rent for cheap and save money, you have bad credit or you’re going to try to flip it without any previous experience. Those are some scenarios where I would stay away from buying.

]]> By: angelo http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-413 angelo Fri, 31 Aug 2007 16:09:42 +0000 http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-413 berealct, So which situation of the ones you mentioned would be favorable? berealct,
So which situation of the ones you mentioned would be favorable?

]]> By: berealct http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-404 berealct Wed, 29 Aug 2007 14:11:42 +0000 http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-404 Lyn, I think the answer depends on your situation and the market can only be one factor. Sorry, Pete, but I think your answer is too simplistic and applies to only a certain segment of the buying marketplace. For example, are you buying for investment purposes only? How long are you looking to hold onto the property? Where are you looking to buy? What type of mortgage? 100% financing or 80/20 and what rate? Are you renting? Are you trying to sell something? Lyn,
I think the answer depends on your situation and the market can only be one factor. Sorry, Pete, but I think your answer is too simplistic and applies to only a certain segment of the buying marketplace.

For example, are you buying for investment purposes only?
How long are you looking to hold onto the property?
Where are you looking to buy?
What type of mortgage? 100% financing or 80/20 and what rate?
Are you renting? Are you trying to sell something?

]]> By: Pete http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-406 Pete Wed, 29 Aug 2007 13:53:39 +0000 http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-406 Lyn, the smart money is on the sidelines right now, earning interest. The CLI economic indicators are falling which is a bad sign for conditions down the road. The stock market might suffer greatly next month, which will feed upon the problems in the housing market. In my opinion, current and future real estate market conditions favor neither buyers nor sellers - unless of course you are a billionaire and have some cushion of protection - the top 3% of wealth never feels economic crunches. The inventory problem in housing will not go away until prices fall by A LOT. This is basic laws of supply and demand from economics 100. Try to find out what that 290,000 house was worth in 1999 and that would be about what you'd want to pay to be insulated from falling home values which will continue for some time to come....good luck. Lyn, the smart money is on the sidelines right now, earning interest. The CLI economic indicators are falling which is a bad sign for conditions down the road. The stock market might suffer greatly next month, which will feed upon the problems in the housing market. In my opinion, current and future real estate market conditions favor neither buyers nor sellers - unless of course you are a billionaire and have some cushion of protection - the top 3% of wealth never feels economic crunches. The inventory problem in housing will not go away until prices fall by A LOT. This is basic laws of supply and demand from economics 100. Try to find out what that 290,000 house was worth in 1999 and that would be about what you’d want to pay to be insulated from falling home values which will continue for some time to come….good luck.

]]> By: Lyn http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-405 Lyn Wed, 29 Aug 2007 03:10:22 +0000 http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-405 I want to buy but this is all so confusing to me. I just want to someone to tell me if I buy a home right now at 290 if that is going to come back and bite. I want to buy but this is all so confusing to me. I just want to someone to tell me if I buy a home right now at 290 if that is going to come back and bite.

]]> By: berealct http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-407 berealct Thu, 23 Aug 2007 12:07:16 +0000 http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-407 Time will tell in CT. I'm not sure we've seen as much subprime lending in CT or speculative real estate so I don't think we'll see prices dipping by much. Thanks, Pete, for that book recommendation. I will definitely read it because I agree that the debt culture is not sustainable. Time will tell in CT. I’m not sure we’ve seen as much subprime lending in CT or speculative real estate so I don’t think we’ll see prices dipping by much. Thanks, Pete, for that book recommendation. I will definitely read it because I agree that the debt culture is not sustainable.

]]> By: The Feed Bag - All The Tools in the Bag http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-408 The Feed Bag - All The Tools in the Bag Thu, 23 Aug 2007 00:37:13 +0000 http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-408 [...] Jessica Beganski has a nice overview up for the Connecticut Real Estate Market. [...] […] Jessica Beganski has a nice overview up for the Connecticut Real Estate Market. […]

]]> By: Pete http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-410 Pete Wed, 22 Aug 2007 20:27:51 +0000 http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-410 there is another good book out there titled "Empire of Debt" that touches on the real estate market crashing - it draw a comparison to where the US is and comares the US to where japan was in the late 1980s and early 1990s - 10 years of declining real estate values occurred in Japan and they had one fo the highest savings rates in the world whereas the US has one of the higher debt rates - both the govt and taxpayers both being in deep debt simultaneously - setting up for bad things to happen down the road... there is another good book out there titled “Empire of Debt” that touches on the real estate market crashing - it draw a comparison to where the US is and comares the US to where japan was in the late 1980s and early 1990s - 10 years of declining real estate values occurred in Japan and they had one fo the highest savings rates in the world whereas the US has one of the higher debt rates - both the govt and taxpayers both being in deep debt simultaneously - setting up for bad things to happen down the road…

]]> By: Pete http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-409 Pete Wed, 22 Aug 2007 20:24:15 +0000 http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-409 Good reading, but the year end data will be more telling as the subprime effect did not begin to take hold until June and July and the data do not reflect what prices homes sold for in July and August, historically, fairly big months for moving and house buying. A lot of financial writers have described the whole mortage implosion/meltdown as watching a train wreck in slow motion. Good reading, but the year end data will be more telling as the subprime effect did not begin to take hold until June and July and the data do not reflect what prices homes sold for in July and August, historically, fairly big months for moving and house buying. A lot of financial writers have described the whole mortage implosion/meltdown as watching a train wreck in slow motion.

]]> By: Los Angeles Attorney http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-412 Los Angeles Attorney Wed, 22 Aug 2007 17:59:02 +0000 http://ctrealestateunleashed.com/2007/08/22/hows-the-real-estate-market-july-2006-real-estate-market-statistics/#comment-412 Good real estate info. Thanks for the read! As far as the real estate bubble goes, it looks worse in San Diego. I came across a San Diego real estate broker's blog post that is to be the only one I've seen that does not spout the 'industry line: "It's always a good time to buy real estate." This broker calls it like it is. No it's not PC, but it is amazingly informative and insightful. Bob Schwartz, the San Diego real estate broker who publishes the blog, wrote a great article back in 2005 that predicted today's huge home deprecation. You can read this article at: San Diego real estate the url is: http://www.brokerforyou.com/brokerforyou/?p=11 Good real estate info. Thanks for the read!

As far as the real estate bubble goes, it looks worse in San Diego.
I came across a San Diego real estate broker’s blog post that is to be the only one I’ve seen that does not spout the ‘industry line: “It’s always a good time to buy real estate.” This broker calls it like it is. No it’s not PC, but it is amazingly informative and insightful.
Bob Schwartz, the San Diego real estate broker who publishes the blog, wrote a great article back in 2005 that predicted today’s huge home deprecation. You can read this article at: San Diego real estate the url is:
http://www.brokerforyou.com/brokerforyou/?p=11

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