Reply to buying now or waiting another year?

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Reply to "buying now or waiting another year?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Wait. If you don’t need to buy now, wait and see if the “there is no bubble” crowd or the “the bubble is coming” crowd is correct. 
It will eventually become clear. The last thing you want is to buy at the very last point before the downturn. [/quote]

There is not going to be a significant downturn in SFH in Fairfax county. Too many people are if the age to buy. Even if you took a job elsewhere you could rent your home. Prices have stagnated over the last 2 years. This is the new normal. If you see something you like buy it. I’m not buying or selling but our house in Fairfax just went up 12%. [/quote]

This. [b]I don’t understand the people who think prices will drop significantly, if at all[/b]. Even in places like Loudoun and Faquier. If people are required to go into their office once or twice a week, there will still be a demand for the suburbs and even DC exurbs.

Don’t believe me? Look 
https://www.redfin.com/VA/Bristow/12445-Great-Falls-Dr-20136/home/9425641

https://www.redfin.com/VA/Gainesville/6048-Gayleburg-Pl-20155/home/9425328

https://www.redfin.com/VA/Gainesville/5964-Piney-Grove-Way-20155/home/12325489[/quote]

Home prices can absolutely drop. Until covid, most people were going into an office in cities like Tampa, Phoenix, atlanta etc and these cities still experienced significant decreases in housing prices.  All it takes is for the FOMO crowd to get scared and the ride to turn.  The media is already starting to report on it being the peak.  People are sheep and if the tide turns, people will stop home searches and trading up.  There is no guarantee what will happen to the job market in the DMV.  [/quote]

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