first time home buyer

**SLICKRICK1170** · 12-31-2007, 01:57 PM

im looking to buy a home and relocate soon to n atlanta i know it is a buyers market but my question is will property value continue to drop do i still have a better chance of getting a better deal if i wait a little longer? im in fla and a realtor told me it would probably drop 40%

**krolfe** · 01-18-2008, 12:08 PM

I agree! If you have a reason to buy a house just go find the best deal that you can. How many people do you hear say,"I wish I would have bought a house in '03." You never know what the market will do. Good Luck!

**flhousesuk** · 01-18-2008, 04:08 PM

40%?! I don't know where your realtor pulled that info from!! yeah market looks like it may continue to drop a little for the next 6 months or so, but don't leave it too late as interest rates are set to go up by 1/2 or even 3/4 of a point in maybe 6 months also - then you will have missed the boat! None of us can say exactly when things will turn but i think by the end of the year when a new president is elected, the country will atleast have a clear and stable path to follow and hopefully this will do wonders for the economy! Prices won't drop as much as 40% though, that would be devastating for the world economy!

Good luck with your move!

**MicroBalrog** · 01-18-2008, 05:29 PM

Nobody can reasonably predict what the value will continue to do. Let me give you an example from my family life. My mother, who is generally a very astute woman, has decided, about five years ago, to buy a house. As you can imagine, she consulted a variety of people, including at least two guys who were in the real estate business, and they told her that the prices in my area will continue to rise for a while and that she was making a good investment.

She bought the place

**Orlando MLS** · 01-19-2008, 10:27 AM

Highly unlikely. Prices may drop or they may go up. We just don't know. What we do know is that prices historically will go up over time.

The market has deflated substantially already. There are so many good prices out there now with all the foreclosures and many people/banks are ready to make deals.

My advice is to look at the historical data for the city you are moving to. Look at trends over a 20 or 30 year window. See what the average appreciation rates were for that period. Then try and focus your offers based on that range in the years prior to the boom. In other words, add the average appreciation to homes sold in 2002, 2003. You should come up with some pretty safe numbers over that period.

Nonetheless, use your common sense when making offers. Read and do plenty of research.