How near to the housing bottom are we?

[Valerie]

Prices are down considerably and interest rates are still historically low... The longer you wait for prices to drop even more, the more likely the interest rates will tick up over time.

So the PRICE of the property may go a little lower but over the lifetime of the loan even at a slightly higher interest rate, your COST would be much higher...


IMO - BUY BUY BUY!

If all the noise you're hearing about housing has you totally confused, join the crowd. One day you'll read that owning a home has never been more affordable. The next day you'll see news that housing starts have plunged to nearly their lowest level in half a century, as headlines announced in March. After four years of falling prices and surging foreclosures, it's hard to know what to think. Even Robert Shiller and Karl Case can't agree. The two economists, who together created the widely followed S&P/Case-Shiller Home Price indices, are right now offering sharply contrasting views of housing's future. Shiller recently warned that the chances were high for a further double-digit drop in U.S. home prices. But in an interview with Fortune, Case took a far brighter view: "The lack of new home building is a huge help that a lot of people are ignoring," says Case. "People think I'm crazy to be optimistic, but housing is looking like the little engine that could."

Real estate: It's time to buy again - Fortune Finance

I'll sell you a house. I buy foreclosures. I especially like short sales. Some of these homeowners have not made a payment since 2008 and have been living rent free.

I'm all set, but thanks for the offer!


Yes, there are some smokin' deals out there! People should not be afraid to BUY!

One reason your best investment right now could be a home has to do with the relative upside of getting in on an asset class while it’s at the bottom versus buying into other asset classes that could be near a top. Consider for a moment the tremendous upside we’ve seen in stocks, precious metals and agricultural commodities over the past 12 months.

Why your best investment is a house Outside the Box - MarketWatch

Not all markets will bounce back equally, of course. Housing resembles the weather: The exact conditions are different in every city. But in general the big U.S. markets fall into two different climate zones right now. We'll call them the "nondistressed markets" and the "foreclosure markets." A more detailed look shows why the forecast for both is favorable.
Real estate: It's time to buy again - Fortune Finance