It's already recovering here. In some towns, Randolph, NJ for example, there is only a two month inventory, perhaps even a little less. With such low inventory it would not be at all unusual to see prices begin to rise. That is a recovery, it may not be a strong recovery, but that's OK, we don't want a repeat of last time, but still a recovery.... more
With a 1-3 year time horizon, it generally makes sense to rent instead of buy. The real estate transaction costs can be an issue for such a short time frame.
You'll have to weigh the costs between renting and buying. Some areas, it's just so much cheaper to buy that it's worth taking the savings each month to bet on the transaction costs.
And, if you're looking to sell, you can always sell if you price your home right for the market.
That said, I just helped one of my clients sell a home quickly due to unexpected job relocation. They had only bought the home with me 7 month earlier. Fortunately, the area we bought was so hot that they're able to walk away with a 10% net gain after all selling expenses.... more