Survey shows that 64% of Americans think this is an ideal time to buy a home

[w¡n9Nµ7 §£@¥€r 123]

Despite all of the negative commentary about the housing and credit markets, 64 percent of Americans believe that for those with good credit and a down payment “this is an ideal time to buy a home,” according to a study commissioned by Beazer Homes, one of the country’s top-10 homebuilders. Perhaps with an eye toward the future, 24 percent of survey respondents — from Gen Y to Baby Boomers — say they plan to buy a new home in the next two years either as a primary residence or second/vacation home.

...

As in most areas, experience brings additional confidence. The survey found 70 percent of experienced homebuyers — those who have purchased at least one home — urging renters to purchase a home as soon as he or she is financially able to do so.

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“While this is clearly a challenging time for the homebuilding industry, for those who are financially grounded, we believe it is an ideal time to buy a home. It’s an even better time to buy a brand new home,” said McCarthy. “Now more than ever, a newly constructed home is likely to be a much better value for homebuyers when compared with the purchase of a re-sale home.”

http://www.businesswire.com/portal/site/go...amp;newsLang=en

[GaryC 7]

This is very true. It's a buyers market right now. If you have a stable job and a decent credit rating now is the time. There are some real bargains to be had.

[Jenn! 918]

This is very true. It's a buyers market right now. If you have a stable job and a decent credit rating now is the time. There are some real bargains to be had.

Alrighty, now we just need a down payment. Sigh.

[SteveLaura 0]

I'm hoping this is true. Our debts are paid off, credit reports are looking good, the downpayment fund is growing nicely... We start the search next month.

[w¡n9Nµ7 §£@¥€r 123]

This is very true. It's a buyers market right now. If you have a stable job and a decent credit rating now is the time. There are some real bargains to be had.

True, but you gotta be careful where you buy. Prices are still dropping in many places. I am starting to see sub-300K listings in my neighborhood for the first time since 2003.

[GaryC 7]

This is very true. It's a buyers market right now. If you have a stable job and a decent credit rating now is the time. There are some real bargains to be had.

Alrighty, now we just need a down payment. Sigh.

You can still get zero down loans. If you or your SO are vets then a VA loan is 100%. If this is your first home then FHA will give a 100% loan and there is even a program that will give you 4% for your down payment. Talk to your bank.

[w¡n9Nµ7 §£@¥€r 123]

A zero-down loan is a bad idea if you're in an area where there was a bubble in recent years. Especially if you're not 110% confident you'll be in that same home for atleast a decade.

JMHO.

[Jenn! 918]

This is very true. It's a buyers market right now. If you have a stable job and a decent credit rating now is the time. There are some real bargains to be had.

Alrighty, now we just need a down payment. Sigh.

You can still get zero down loans. If you or your SO are vets then a VA loan is 100%. If this is your first home then FHA will give a 100% loan and there is even a program that will give you 4% for your down payment. Talk to your bank.

I'll have to look into it. Seems so irresponsible to buy a house with nothing down, but maybe that's just not true.

[w¡n9Nµ7 §£@¥€r 123]

Also, the FHA loans have ridiculously low income caps - anyone with a real job in a major metro area will have trouble qualifying.

[Trompe le Monde 1,107]

Absolutely - I would never buy a home that way, especially if I was unsure where I'd be in 5 years time.

Not sure we have seen the bottom yet in my area! Plus all the new builds that must have been approved when the market was booming is going to REALLY make it a buyers market in time.

[w¡n9Nµ7 §£@¥€r 123]

Absolutely - I would never buy a home that way, especially if I was unsure where I'd be in 5 years time.

Agreed. 0% down loans are incredibly irresponsible.

[GaryC 7]

Also, the FHA loans have ridiculously low income caps - anyone with a real job in a major metro area will have trouble qualifying.

I qualified for an FHA loan with my $65k/year income. I don't know what the cap is. Maybe it varies from area to area.

[w¡n9Nµ7 §£@¥€r 123]

Also, the FHA loans have ridiculously low income caps - anyone with a real job in a major metro area will have trouble qualifying.

I qualified for an FHA loan with my $65k/year income. I don't know what the cap is. Maybe it varies from area to area.

Well.... around here, you can't afford PITI on a household income of 65K anyway so buying a home is out of the question... the limit here isn't much higher than that, but is still much lower than what is an income level at which home ownership is actually feasible.

[GaryC 7]

Absolutely - I would never buy a home that way, especially if I was unsure where I'd be in 5 years time.

Not sure we have seen the bottom yet in my area! Plus all the new builds that must have been approved when the market was booming is going to REALLY make it a buyers market in time.

There are really two different "Americas" where the housing markets are concerned. The coasts and the fly-over areas have vastly different dynamics. I understand that on the coasts the markets went through the roof for a while and are still in the "correction" mode. I wouldn't buy in a market that is still dropping. But here in the heartland the market has been a little more stable. The prices didn't go up as much and as a result they didn't go down as much. I have been keeping a very close watch on the prices over the last 2 years and here at least the bottom seems to have been reached.

Here is some examples my reality agent has been sending me. Ignore the first one. I don't know why he stuck that one in. Just click on some of the others on the left side of the screen.

http://peoria.fnismls.com/publink/default....&Report=Yes

[w¡n9Nµ7 §£@¥€r 123]

There are really two different "Americas" where the housing markets are concerned. The coasts and the fly-over areas have vastly different dynamics. I understand that on the coasts the markets went through the roof for a while and are still in the "correction" mode. I wouldn't buy in a market that is still dropping. But here in the heartland the market has been a little more stable.

Well said.

I excel-churned OFHEO HPI metrics a few weeks ago and was astounded at how "straight line" the price appreciation was in Charlotte and Dallas and how "topsy turvy" it was in NYC/Boston/LA.