Buying A House With Bad Credit? Best To Buy Between March And April 2011.

Online, September 28, 2010 (Newswire.com) - "I think this is a buying opportunity," says Standard & Poor's Chief Economist David Wyss "for most people buying a house that they actually intend to live in."

But, these words come also with a word of caution. Wyss advises to beware when buying houses in areas with foreclosure rates above the norm. Prices will fall again in these cities he says.

If your expecting to purchase a home and sell it for an added 5% the next year like so many people were able to do during the housing boom Wyss says forget it. Modest appreciation is to be expected at best.

"The main value you should be getting from the house should be the value of living there," says Wyss.

Home prices slowly rising.

Home prices continue to inch toward the sky in a slow but steady increase over much of the last year. The 20-city index is up 3.2% from last year.

But don't get too cozy, Wyss predicts the stability we've just become accustomed to will take a turn for the worst in the coming months due mainly to high foreclosure rates. "I expect prices to hit bottom between March and April," he says.