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Robert Grisw…, Home Buyer in Queens, NY

Is housing going to contnue to drop in Long Island? YOY, sales down & prices down. Lots of inventory & many foreclosures unlisted. Buy or

Asked by Robert Griswold, Queens, NY Thu Apr 19, 2012

wait?

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Answers

6
Anna Brocco’s answer
If you are looking to buy, need to, and are ready to buy, no reason not to consider the idea. Unfortunately none of us can accurately say where the market will head tomorrow, or in the days to come; however can say that there are plenty of great buys waiting to be had today....
1 vote Thank Flag Link Thu Apr 19, 2012
No crystal ball needed here. Prices have been rising and inventory has been going down since early 2012 and that trend appears to be continuing into the foreseeable future.
0 votes Thank Flag Link Sat Jul 20, 2013
yes it will continue to fall
0 votes Thank Flag Link Sat Dec 22, 2012
Robert,

We can not accurately predict that housing prices are going to continue to drop or start rising. Although, there are indications that we have or are reaching bottom with prices appearing to have stabilized. What you should be looking at is the affordability of housing with historically low interest rates below 4% and today's prices to purchase a home. Combined....it's the cheapest it's been in 40 years! Rental prices are rising making it less expensive to own. Get off the fence and BUY!!!!
0 votes Thank Flag Link Sat Apr 21, 2012
All indications say that prices have bottomed out. We have to remain positive!
0 votes Thank Flag Link Thu Apr 19, 2012
Robert, the number buyers should be more concerned with is the interest rate. No one can ever predict the bottom, but you can predict affordability and payments by the rate.

The rate is at an all time low. BUY!
0 votes Thank Flag Link Thu Apr 19, 2012
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