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researcher
09-11-2007, 06:06 PM
Hi,

I have a house in La Mirada, CA and am looking to buy in Mission Viejo, Ca.
Generally homes are more expensive in Mission Viejo I must add.

Since most analysts predict a significant drop in home prices, would it not make sense to wait until the market is somewhat Stable? to sell and then buy a higher priced/valued home?

Say if prices drop 10% across the board, would it not be to my benefit since What I will be buying is a bit higher in price?

Thanks
Codythebest
09-11-2007, 06:58 PM
It makes sense to sell, wait(rent) and then buy, if what you said is true in regards of dropping prices...
slh2002_77
09-11-2007, 09:52 PM
If your expecting a drop across the board doesn't that mean your house will also be worth less when you sell. Selling now and waiting makes sense though.
IggysListing
09-12-2007, 09:12 PM
There is too much hype coming from the media and so called analysts.
Don't apply generalties to real estate. Talk to a competent agent or
appraiser before assuming anything about you house value now or later.
Codythebest
09-13-2007, 05:09 AM
There is too much hype coming from the media and so called analysts.
Don't apply generalties to real estate. Talk to a competent agent or
appraiser before assuming anything about you house value now or later.

It's dropping almost everwhere except in Charlotte!!:D
IggysListing
09-13-2007, 09:32 AM
Everywhere covers a lot of territory!
The last that I checked, that would be now, homes are
still selling. If you are in a depressed market and it affects you,
I know that is tough and I wish you the best. Don't believe
everything you read and don't minimalize the effect of a self fulfilling
prophecy, aka, the feeding frenzy of the press to propagate bad news.
I am writing this from Everett, WA, just north of Seattle. Housing is
booming here. Even in areas where the market is depressed, there
normally will be pockets where homes do ok.
Bottom line - people in this country still need housing and the country
is growing. Some areas will always do better than others.
It is the job of real estate professonals to educate the public. Give them
facts and not the cra_ they get from the media.