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Is It wise to buy realstate right now?

 
 
DrMom
 
  1  
Reply Mon 3 Nov, 2008 08:09 pm
@cicerone imposter,
I agree with you. The realtor keeps reassuring us by quoting that currently there is only one rental property in our community and she has several offers but she is not willing to come down on the rent. It is a ritzy tennis community and everyone has atleast an acre. I think it attracts corporate relocations because of the excellent schools and a country side atmosphere in the middle of city.

I will keep you posted
0 Replies
 
ochomefunding
 
  0  
Reply Wed 5 Feb, 2014 03:01 am
@DrMom,
guess what .. real estate is a very lucrative area.. get in touch with a professional consultant
cicerone imposter
 
  1  
Reply Wed 5 Feb, 2014 11:52 am
@ochomefunding,
Most of the market for real estate has already recovered their loss from 2008-2010 in the markets that always had higher demand.

Although our economy has been improving - slowly - since Obama took office, the stock market is now in correction mode after last year's 30% upswing.

What one needs to do is look at the location's demand for rentals with the idea that rents and increased value of the investment must return the cost of the investment within 10 years. I paid $80k for a duplex we owned, and the rents returned about $270k during the 22 years of ownership, and I sold the duplex for twice what I paid. It was an excellent investment.

Location, location, location is of primary importance. Also, what you think how the economy will perform in the area. We live in Silicon Valley, and the demand for homes in our ZIP code is very high, because the high tech industry is again picking up. Most of our neighbors work in the high tech industry, and many engineers and scientists live here. I'm probably one of the least educated in our neighborhood. Mr. Green

Good luck.
0 Replies
 
 

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