Home Buying in Prattville>Question Details

Want A Home, Home Buyer in Orlando, FL

is the market still going down in prattville for homes in the 300k range is it time to offer with low rates or wait ? avg days on market to sale ?

Asked by Want A Home, Orlando, FL Thu Jul 22, 2010

Is the sales picking is it a good time to buy or wait for lower price are ther many forecloser dealsi prattville for larger homes

Help the community by answering this question:


Since Jan 1, 2010 15 homes priced between $300,000 - $350,000 have sold. There are 16 homes in that price range actively on the market and 1 currently under contract. The days on market for the ones that sold range anywhere from 25 days to 239 days. The active homes range from 19 days on the market - 377 days. The one that is under contract was on the market for 29 days. Only 1 of the active listings is a foreclosure. Days on market is hard to call. It could depend on the condition of the home or if there is the right person looking for the home you are offering. I hope this has helped.
0 votes Thank Flag Link Sun Jul 25, 2010
The problem with trying to time the market is that the only way you know that you've hit the bottom is after it has passed and prices are rising again. Seasoned economists don't agree on when it is at the bottom, so the chances for an individual to hit it exactly right are not very good.

The time to Buy a great home is when you can afford one. Rates are at historic lows right now - lowest since the 50's. A 1/2 % increase in rates is the same increase in payment for a normal loan as a 5.8% increase in the price of the home. So, unless your local market is in a total free-fall, if you have found a home you like and can qualify for a loan under the new tougher standards, it's probably a great time to buy.

Web Reference: http://TellEllen.com
0 votes Thank Flag Link Fri Jul 23, 2010
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