Where to Find Housing Bargains

Related Newser Stories

• Forget Renting: Friends Now Buying Homes Together

  Aug 27, 08 8:34 AM CDT
  The cooled-down housing market and lower prices are attracting new buyers: groups of young professionals who want to invest but don’t quite have the dough to buy their own place. Instead, they’re buying homes with friends and splitting the mortgage, maintenance costs—and the tax break, Time reports. “You have to do this with a person you trust,” said one “co-ho”— short for “communal homeowner."
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• Home Prices Fall Again; Rate of Decline Sets Record

  Jul 29, 08 11:01 AM CDT
  Home prices continued to nosedive in May, a signal that the housing crisis may be worsening and a red flag for the credit markets and Wall Street, reports the New York Times. Every region covered by the S&P/Case-Schiller home-price index showed a drop compared to May 2007, with the rate of decline setting a record for the 21-year-old metric.
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• Retirees Scoop Up Bargains in Housing Slump

  Jun 27, 08 2:05 AM CDT
  Retired Americans who can afford new bargains are enjoying the drop in housing value in once-exorbitant sun havens where prices have plunged as much as 25%. Miami, Phoenix and Las Vegas—formerly at the forefront of soaring prices—are now leading the decline, the New York Times reports. Homebuyers who waited to purchase took a risk because prices could have surged, but were rewarded with more than $100,000 in savings. More »

• Housing Slump Won't Ease Anytime Soon, Says Study

  Jun 23, 08 7:48 AM CDT
  Rising mortgage rates and a tenacious slump in sales and home values will continue to depress the worst housing market in decades, reports Reuters. Don't expect potential saviors—new home buyers—to make a dent any time soon, says a Harvard study. With mortgage rates at a 9-month high, credit tight, and foreclosures on the rise, they will likely wait until the market hits bottom, and it appears to have a ways to go.  More »

• Stealing Home: Five Signs It's Time to Lowball

  Jun 20, 08 1:18 PM CDT
  It's not always the economy, stupid. Even in a weak market, buyers should consider a homeowner's situation before hurling a lowball bid, writes Daniel McGinn in Newsweek. One real estate broker offers five sure signs that a seller is ready to deal:

  1. Nobody's home. Sellers who have moved on, or will soon, probably want to unload the property fast.
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