I'm looking to buy a coop or a condo? Should I still wait? Is the state of the real estate market is going to get better or worse? Thank you.

Asked by Elena, Queens, NY Mon Aug 9, 2010

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Maureen Brennan’s answer
Maureen Bren…, Agent, Maspeth, NY
Fri Jan 25, 2013
Elena, it is always better to own than to rent. And now is the perfect time to begin your search - coops/condos in the Woodside area are still affordable and the interest rates are extremely low. Good Luck!
0 votes
Marco Gomez &…, Agent, Jackson Heights, NY
Mon Apr 22, 2013
I would advise purchasing soon rather than later as inventory has shrunk and is turning into seller market and we don't know how long interest rates are going to stay this low.
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John Cheung, , Las Vegas, NV
Thu Jan 17, 2013
Buying now is the best possible solution. I agree with Ralph on this one. Every month people throw away their money to the home owners before thinking of owning on themselves. If financing is what your going with, there is no time like there is now. I know a bunch of mortgage lenders that can satisfy your needs and I have a bunch of listings you might want to take a look at. Feel free to call me at 347-439-0291. My name is John Cheung. I would definitely recommend moving swiftly. Everyone with buying because this market is booming again. Best of luck.

John Cheung
Charles Rutenberg
0 votes
Ralph Windsc…, Agent, Hauppauge, NY
Tue Aug 10, 2010
A good deal is a good deal. If you're paying rent right now, that's money that's going out the window every month, not paying down your mortgage or giving you any income tax benefits. Even though it seems that prices may decline a bit more before hitting rock bottom, interest rates are great right now. It's a good time to buy if you are going to stay in your next home for at least 5 years or so regardless of where the market is or going. Although there is no guarantees in life or in real estate, I think it's a great time to invest. If you're not currently working with a buyer's agent, please feel free to contact me so I can explain the benefits to you. Good luck!

Ralph Windschuh
Certified Buyer Representative
Senior Real Estate Specialist
Associate Broker
Century 21 Princeton Properties
Top 2% of Century 21 Agents Nationwide!
0 votes
Phillip Vinc…, , Chesterfield, MO
Mon Aug 9, 2010
I think the condo market like the residential market is down across the board. Which means if you hunt for it there are good deals even GREAT deals in some cases. I recently purchased a condo in the ballwin Mo area for $52500.00 the comps in the area were over 100k. So ask yourself, do I want to buy when prices are at the high point or at the low? Well obviously you want to buy low, so do your home work in your area and you will know when you are making a good choice. Interest rates are at 30 year lows.
Web Reference:  http://hermannlondon.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Mon Aug 9, 2010
To buy now or wait is a decision only you can make based on your finances, wants, needs, lifestyle--unfortunately none of us can answer with accuracy as to where the market will lead tomorrow or down the road--what we do know today, is that interest rates are excellent and many good buys are waiting to be had--you decide.
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Robin Silver…, Mortgage Broker Or Lender, Garden City, NY
Mon Aug 9, 2010
One thing is for sure Elena, it is unlikely that interest rates will get any lower. I know you have been looking for quite a while, as you have asked this question before as I recall. If you are planning to obtain financing, this is a great time.
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