Are the prices for houses in No. California going to go down in the next few months?

Question

I am presently looking to buy and have been told by a few friends to wait.

Answer 1

Unfortunately my crystal ball doesn't work. However, prices have been going down for the last 1-2 months. There are still many more people in California then there are houses available. So, my guess is the prices won't continue to fall for too long. If you plan on buying the house, and living there for a while. (At least 3-4 years) I wouldn't worry too much about it. Just make sure you get yourself into a longer term mortgage. 5/1 ARM or 7/1 ARM, that way, if your house price does fall, you can wait it out. If you would like more info, shoot me an email. [e-mail]

Answer 2

I use http://www.HomePriceMaps.com to search for realty prices by zipcode and/or city. Also-if you don't see any data for your area you can email them your info and they will quickly post home data for your area and email you within a day or two. pretty convenient.