Housing: Best time to buy in four years

Housing: Best time to buy in four years
By Les Christie, CNNMoney.com staff writer
Mar 6th, 2008
Home values have declined across the country, giving homebuyers the best buys they've had since 2004.
NEW YORK (CNNMoney.com) -- It may be the best time to buy a house in more than four years.
Home prices have dropped so quickly and so far that valuations - the difference between what a home should cost and its actual price - are the lowest they've been since 2004, according to a report.
The Cleveland-based bank National City Corp. (NCC, Fortune 500), together with financial analysis firm Global Insight, revealed Tuesday that more than 88% of the 330 housing markets surveyed showed price declines and improved affordability during the last three months of 2007.


Housing rescue: What you need to know


"Housing valuations are almost back to long-term norms," said National City's chief economist, Richard DeKaser. He called current affordability "the best in the past four years."
But DeKaser cautioned that home prices could fall even further.
"This isn't to say home price declines are over," he said. "We could move below historic norms. By the end of 2008, housing markets could be broadly under valued."
Prices still improving
There are still 21 housing markets, or 6% of those surveyed, that are severely over valued, including Atlantic City and Madera, Calif. That's down from 56 overvalued markets at the peak of the housing bubble in 2006.
The report compares actual median home prices with what the authors determine are proper home values based on population density, relative income levels and interest rates, as well as historically observed market premiums or discounts, to determine whether markets are over or under valued.
The report also factors in market intangibles that make some areas more desirable places to live, and more expensive.
"Declines are no longer confined to once-frothy markets," said DeKaser.
The survey covered home valuations during the last three months of 2007, but DeKaser pointed out there's reason to believe that valuations are even more favorable for buyers today.
Price declines have continued into 2008 and interest rates, although they have inched up lately, have been steady or lower compared to late last year. There have even been wage gains; personal income rose 0.5% in December. Soaring foreclosure rates have added inventory to many housing markets, depressing home prices further.
The biggest gains in affordability occurred in California, Michigan and Florida, which are areas that have also been some of the hardest hit by foreclosures. Those states registered 43 of the 50 biggest price declines.
Bend, Ore. currently tops the overvaluation list. Home prices there were judged to be about 59% higher than their fair-market value. Miami, despite a median home price decline of 5.7% last year, is the most overvalued big city, by 44%.
All the best bargains were found in Louisiana and Texas. Houses in Houma, La. were under valued by 31.2%, according to the report. Dallas was the most undervalued big city, by 30%.
Hope Now: We've helped 1M home owners

DON'T MISS THE BOAT THIS TIME !!!

Remember our services are FREE and you're always in good hand with us, Nancy and I we love to helps and represent you and your Family in the search for your Dream Home ... If you have any questions or simply just want us to show the properties you found by using our Searching Tool, Please do not feel hesitate to give us a call at (714) 531-2678 or email us at mrlittlesaigon@yahoo.com

Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

Thu Feb 14, 2008
Kinh Thua Quy Vi,

Bat' dau` buoc' qua TET toi co' rat' nhieu` BUYERS (My~ va` Viet) bat' dau` goi. vao` de^? kiem' nha` FORECLOSURES mua.
Toi co' cam? tuong? la` thi truong` Dia Oc' se~ bat' dau` "Chuyen Dong" tro? lai trong vong` 6 thang' nua~ vi` Hit Bottom.
Theo kinh nghiem cua? toi Khi Dau` Tu vao` Dia Oc khong nen dung` tin tuc cua? Media va` Bao' chi' de^? quyet' dinh cong viec vi` vao` luc' do' la` da~ qua' tre^~ roi^` ... tin tuc cua? Media va` Bao' chi' chi? la` LA BAN` huong' dan~ chung' ta ve` su Phat' Trien? hoac Suy Giam? cua? thi truong` ma` thoi ... Trong thi truong` Dia Oc .. DAY LA` THOI` CO* TOT^' cho nhung~ ai nhin` thay' co hoi nay`:

1) Vat Lieu Xay Cat' Tren THE GIOI' da~ va` dang bi TRUNG CONG Thau mua rat nhieu` nen gay ra tinh` trang khan hiem' Vat Lieu .... Se~ gay ra gia' nha` moi' muon' duoc xay cat' se~ tang len mau chong'.
2) Xang Nhot' (OIL) cung~ vay ... Tang gia' vun vut khien' vat gia' leo thang kinh khung?
3) Nha` California cach' day 2 nam ... neu^' gia' 1 can 4 plex la` $1,000,000 bay gio` chung' ta co' the^? mua voi' gia' khoang? $750,000 ... Vi` nha` tut gia' nen MAC CA? va` TRA? GIA' nha` voi' chu? nha` co' phan` de dang` hon rat nhieu ... Dau Tu vao` Dia Oc' co' Loi. - Benefit ve` thue' ma' tax nua~
4) Phan loi` TUT GIAM 30 nam FIX khoang? 5.375%
5) TIEN EURO tang manh khung? khiep trong khi US Dollar tut giam? The Tham
6) STOCKS khong phai? la` noi bo? tien` vao` luc' nay`
7) BONDS Return qua' YEU'
8) DAU TU VN ... coi Phieu Luu qua'

Hien nay toi thay' toan` la` nhung dau' hieu TOT de DAU TU dia oc vao mien Nam California ... Theo toi khoang? tu` 3 cho toi' 6 thang' nua~ la` THOI DIEM KHONG THE BO? QUA DUOC ve` dau tu DIA OC tai California ...

MUA KHI TAT CA MOI NGUOI DEU BAN'
BAN KHI TAT CA MOI NGUOI DEU MUA

Khi nha` da~ HIT BOTTOM thi` se~ co' rat' nhieu` nguoi` se~ cung` nhau do^? Xo^ nhau ra di mua nha` tao tinh` trang CHEN LAN^' va` kich' thich' thi truong` se~ lam` gia' nha` tang nhanh, Phan Loi` Tang nhanh va` Tra? gia' rat' la` kho' khan.

Neu anh em nao` DAU TU vao` DIA OC tai California ky` nay` (2008) khoang? 5 nam sau khi nhin` lai. (look back) anh em se~ la` nguoi` VERY VERY HAPPY vi` da~ nghe loi` khuyen^ cua? toi.

Good luck to you all
Vinny Tran / Nancy Do
Your Home SOLD in 45 Days or we'll Buy It for CASH !!!
Visit us at => www.VinnyTran.com
(714)531-2678

Note: Neu anh chi co' nguoi` quen muon' mua nha` dau tu vao` dia oc tai vung` Orange County xin gioi' thieu cho tui nay` ... Xin cam on truoc' - Vinny Tran/ Nancy Do