Home Buying in Mahopac>Question Details

Laura, Home Buyer in Tarrytown, NY

Does anyone expect home prices in Mahopac to fall now that creditors are gettting even tighter with lending?

Asked by Laura, Tarrytown, NY Sat Apr 12, 2008

Will people just pull off the market? Is now still a good time to buy?

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Answers

3
Anna Brocco’s answer
It's still a good time to buy, interest rates are still good, although they have creeped up a bit, and if you're looking to making a purchase, like an area and are financially sound go for it.
0 votes Thank Flag Link Wed Jun 10, 2009
Home prices are starting to stabilize, seeing a recovery in the area. It is a good time to buy, homes sell for the current market warrants. If you are first time home buyer you may qualify for the $8,000 tax credit which is an incentive, also if you have not owned a home in the past 3 years you may also qualify. There are some serious sellers out there now and know they want to sell they just need to hear an offer. Everyone is negotiating and deals are coming together. Interest rates are still at a historic low.
0 votes Thank Flag Link Sun Jun 7, 2009
Probably. Mahopac is far from NYC, jobs are being lost in large numbers, credit is getting tighter and community taxes are not going down. If taxes don't give, home prices have to so unless you think the economy is going to turn around or credit is going to loosen up again soon, home prices will continue falling.

Also, you ask, "is now still a good time to buy?" When, recent, was it a good time to buy? I've been looking in westchester for more than a year now and if we bought a year ago, we'd certainly be down now.
0 votes Thank Flag Link Sat Apr 12, 2008
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