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With the crisis and everything, Is it a good idea to buy a house right now?


Asked by Anonymous at 4:58 PM on Aug. 14, 2009 in Money & Work

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Answers (3)
  • It depends on your personal circumstances - if you can afford a house right now it is an excellent time to buy! Right now housing prices AND interest rates are both pretty low - that is a very good deal for buyers. Also, if you are a 1st time home-buyer there is a credit of up to $8,000 you can take on your tax return.

    Answer by Anonymous at 5:02 PM on Aug. 14, 2009

  • If you have really good credit and have the downpayment. Yes it is a good time.

    Answer by louise2 at 5:05 PM on Aug. 14, 2009

  • If you are in the financial spot where you can afford a home...this is the perfect time to buy. It's what they call a "buyers market". There are more houses for sale then there are buyers, also...not sure what state you are in, but a friend of mine got a foreclosure in San Diego, CA that appraised at $1.5 million...she literally got it for a steal at $350K! You want to pay special attention to foreclosures and "motivated sellers", take your time and MAKE SURE you get an excellent real estate agent. One that lets you take your time, that listens to your wants and needs....good luck!

    Answer by Anonymous at 5:05 PM on Aug. 14, 2009