Home Buying in 90703>Question Details

Peaceandpow…, Real Estate Pro in Hurd, ME

What do you project housing prices will be in about 3 years? Will they be as high as 2006?

Asked by Peaceandpowerparenting, Hurd, ME Sat Sep 15, 2012

What type of down payment would you need? Would it be better just to rent?

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Debra (Debbie) Rose’s answer
"I don't know why you keep posting to CA where you don't know anything about CA real estate in any way. Tsk Tsk..."

the tsk , tsk was amusing, in a childish sort of way.........but - show me where I gave any state-sensitive advice?

You need to read and understand what is being asked Sheryl!

This is a generic type question.........and one that no one - even you, a mortgage broker, not a Realtor, can answer with any definitive response.

It's conjecture........an opinion............unless you have a crystal ball, in which case, I'd like to borrow it on my way to Las Vegas.

Oh, and I ditto what Joe said.
1 vote Thank Flag Link Sun Sep 16, 2012
Interesting group of answers both relevant and irrelevant here. Crystal ball or Ouija Board not available at this time. However, as stated this is "the perfect storm" so to speak. Prices are very low & mortgages at historic lows, great time to buy!!
0 votes Thank Flag Link Sun Sep 30, 2012
Maybe I missed something, but I don't see anywhere, where anyone mentioned a foreclosure occurring.

Your question asks what others think the housing market will be like in 3 years........

simple answer?

no one knows

Make decisions based on what your personal situation is today....

1. can you buy a home now - do you have the income, credit and down payment needed?
2. do you want to buy a home now - do you have the desire to own a home, or is renting more appealing to you?
3. is your life/work stable enough to buy at this time? - do you see yourself in the same place/city for some years to come?

So - .just out of curiosity - Why are you concerned with 3 years from now?

Best wishes.......
0 votes Thank Flag Link Sun Sep 16, 2012
It is very speculative. However,based on historical sales, home prices will not rebound as quickly as you want them to be. Far-fetched prediction in 3 years.
0 votes Thank Flag Link Sun Sep 16, 2012
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