Reader Poll
With a trend of falling home prices and rising home sales in Las Vegas, is now the time to buy?
Response | Votes | ||
---|---|---|---|
Yes. Now is the right time to jump in. | 25% | 372 | |
It's close, but wait just a little longer. | 20% | 301 | |
It's too early. Probably in a year or so. | 25% | 382 | |
No way. Ask me again in a few years. | 28% | 430 | |
Total Votes | 1485 |
Note: This is not a scientific poll. The results reflect only the opinions of those who chose to participate.
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If you want a home now is the time. If you want to buy as an investment then property is not going to make you megabucks anymore.
Unless you have found your dream house that you want to live in the rest of your life you are better off waiting until prices stop declining before you buy. There could be another 20% downside from here. There is virtually no risk in waiting because when prices do finally bottom out they will undoubtedly go sideways for a long period rather than shoot back up.
Case Shiller has forecasted the bottom of the Las Vegas Houseing Market to be 3rd Qtr 2010, Thats next summer. For prices to stabilize, we need strong employment , witch we do not have. Also this time around people need to put money down, money they will not have in the large numbers it will take to stailize prices. They also will need a higher FICO Score. Most important we will find out if people really want to buy a house and live i Las Vegas, when its harder to get a loan. Overal, most dont see it yet, life has changed, we have entered a new period in America, the period of responsability, and people looking for thigs other than BLING, BLING.