Re: Is this the right time to buy real estate in US?
Wow, great point! I agree with you- just never thought of it that way.
I assume short sale means bank allows you to sell for less than what you owe and does not come after you for the difference?
Yep short sales means you ask bank to leave that money, but keep in mind that short sales are tough and depending upon how much loans you have on the house and it takes around 3 to six months for bank to approve it and you have to tell bank that you don't have that much money in your account. And it will definitely be a hit on your credit report only for two years and since us desis have usually a great credit history so it will not hurt us much.
Re: Is this the right time to buy real estate in US?
I guess it would be for both purposes because I won’t be living in it in near future, I love my apartment in the city but eventually I will move to the house especially if it’s some place I really liked. I try to avoid credit as much as possible more in terms of Jitni chaddar hay utnay hi paoon phelanay chahiye so I am planning to pay as much down payment as possible and pay off the loan as soon as I can do it insha Allah
Re: Is this the right time to buy real estate in US?
erm.. the only real reason you would want to buy real estate at the moment is to take advantage of the dirt cheap credit rates, if you are thinking of paying down as much as possible, quick pay off etc, a big fat NO to this idea.
Re: Is this the right time to buy real estate in US?
I think queer is concerned about the inventory still left to be sold, including foreclosures that have and will hit.
Abt 2 months ago, I felt the bottom was set in home builder stocks and picked up the one with best balance sheet - Toll Brothers. They happened to be up 37% (my timing nornally sucks by the way). This appears to indicate that home prices may have bottomed. Of course that is just my opinion. I have absolutely no ideaq whare they will head from here.
As indicated earlier, if you do price/rent ratio, inventory trend, price to income ratio etc for the market you are looking into, you can decide for yourself if market is cheaper than historical values.
Re: Is this the right time to buy real estate in US?
Well time and the current situation is important when investing in any business. Sometimes the best event passes away considering the more profit. If you are investing in USA then you should be analyze carefully the value situation of property. A rental property can be profitable as majority of the people in USA and the outsiders do not have their own homes and paying rent.
Re: Is this the right time to buy real estate in US?
^ flip the last sentence around - since majority per your opinion rent and do not own homes, looking into the future this makes a good case for buying a home now, since demand will be there in future. Of course this is just one factor.
Re: Is this the right time to buy real estate in US?
Your opinion is right, but i am talking about investing the money in USA. Question is about is this the right time to invest, so according to this logically you owned a home if you have been giving it for rent. Outsiders living in USA only for work mostly have rental flats, homes, rooms etc.
Re: Is this the right time to buy real estate in US?
Obviously this is just one and only a starting level of investing in property that buy a home and give it for rent and get money weekly or monthly. Real estate and property business has wide range, sometimes only a deal makes millions.
but eventually I will move to the house especially if it’s some place I really liked. I try to avoid credit as much as possible more in terms of Jitni chaddar hay utnay hi paoon phelanay chahiye so I am planning to pay as much down payment as possible and pay off the loan as soon as I can do it insha Allah