Although many housing markets are expected to fully recover from the impacts of the economic downturn within a decade, others may remain mired in decline for years to come, perhaps even coming to resemble Old West ghost towns.
Home prices appear to be very attractive right now, after sharp declines following the collapse of the housing bubble.It would seem to be a good time to buy, but what if prices fall still further? Is there a good way to tell if your area is overvalued?.
So maybe the current low mortgage rates and housing prices have you thinking about buying a home.If you haven't already, you'll quickly find out that part of the challenge is decoding the property descriptions in the real estate listings.
Check out the ads in the real estate section of your local newspaper.If you read between the lines, you'll probably sense messages like, "Selling home-desperate!" or "Need to sell home, but can't find buyer.
Buying a house sometimes hinges on the ability to come up with cash for the down payment.But larger down payments can also save consumers money.During challenging economic times, it helps to understand all the options before applying for a mortgage and buying a home.