Comments on: Do You Buy A Home Now Or Wait For Falling Prices http://www.manausa.com/buy-a-home-now-or-wait/ All About Tallahassee Housing Wed, 17 Mar 2010 11:45:44 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Home Mortgage Interest Rate Changes http://www.manausa.com/buy-a-home-now-or-wait/comment-page-1/#comment-3882 Home Mortgage Interest Rate Changes Wed, 10 Jun 2009 12:12:51 +0000 http://www.manausa.com/?p=4150#comment-3882 [...] Yesterday’s blog article pondered whether somebody should buy a home today at possibly a higher price, yet almost certainly lower interest rates, in order to take advantage of the $8,000 First Time Homebuyer Tax Credit instead of waiting for prices to bottom. This created some discussion in the comments and email section of the Tallahassee Real Estate Blog, and made me wonder if their might be another way to consider the impact of rising mortgage interest rates in the purchase of a new home. [...] [...] Yesterday’s blog article pondered whether somebody should buy a home today at possibly a higher price, yet almost certainly lower interest rates, in order to take advantage of the $8,000 First Time Homebuyer Tax Credit instead of waiting for prices to bottom. This created some discussion in the comments and email section of the Tallahassee Real Estate Blog, and made me wonder if their might be another way to consider the impact of rising mortgage interest rates in the purchase of a new home. [...]

]]> By: Joe Manausa http://www.manausa.com/buy-a-home-now-or-wait/comment-page-1/#comment-3879 Joe Manausa Wed, 10 Jun 2009 10:53:44 +0000 http://www.manausa.com/?p=4150#comment-3879 Thanks Marc, and I don't disagree that is a possibility. I think where I disagree is that the example used is below the median price point in Tallahassee and I don't see much more than 5% depreciation (even if that) for homes that are already properly priced. I think homes at $200K plus have some vulnerability and homes $400K plus are due for more than 5%. Now there are a lot of homes in Tallahassee (student area rentals) that are priced too high now so you can't consider it depreciation when they finally lower their asking price to what they would sell for today. Thanks Marc, and I don’t disagree that is a possibility. I think where I disagree is that the example used is below the median price point in Tallahassee and I don’t see much more than 5% depreciation (even if that) for homes that are already properly priced. I think homes at $200K plus have some vulnerability and homes $400K plus are due for more than 5%.

Now there are a lot of homes in Tallahassee (student area rentals) that are priced too high now so you can’t consider it depreciation when they finally lower their asking price to what they would sell for today.

]]> By: Nichole Page http://www.manausa.com/buy-a-home-now-or-wait/comment-page-1/#comment-3877 Nichole Page Wed, 10 Jun 2009 10:31:47 +0000 http://www.manausa.com/?p=4150#comment-3877 Hey Joe, Nice analysis, complete with graphics. That's an excellent value added service to your customers. I'm quite new to this whole web for business thing and I'm just looking around for ideas. Cheers! Nicole Hey Joe,

Nice analysis, complete with graphics. That’s an excellent value added service to your customers. I’m quite new to this whole web for business thing and I’m just looking around for ideas.

Cheers!
Nicole

]]> By: Marc http://www.manausa.com/buy-a-home-now-or-wait/comment-page-1/#comment-3848 Marc Tue, 09 Jun 2009 21:51:51 +0000 http://www.manausa.com/?p=4150#comment-3848 Yes but based on the current supply conditions and if interest rates remain where they are (its probably more likely they will go up, making things even worse) a 5% drop would seem way too optimistic - probably the order of an additional 10 to 20% is needed just to match the nationwide decline in house prices from the peak to today. You've said before the Tallahassee market lags the national market by about a year. Since national home prices have fallen 17% in the past year, that seems to be a more probably figure for what will happen here in Tallahassee over the next year. Yes but based on the current supply conditions and if interest rates remain where they are (its probably more likely they will go up, making things even worse) a 5% drop would seem way too optimistic – probably the order of an additional 10 to 20% is needed just to match the nationwide decline in house prices from the peak to today.

You’ve said before the Tallahassee market lags the national market by about a year. Since national home prices have fallen 17% in the past year, that seems to be a more probably figure for what will happen here in Tallahassee over the next year.

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