Eight Tips When Buying in a Depressed Housing Market - 01/30/09 09:31 PM
Yes, there are some great buys in housing now, but that doesn’t mean that every home with a dramatically reduced price is a bargain. There are several factors one should consider before buying in this or any market; and today, exercising caution and good judgment are more important than ever.
 
1. As always, location is critical. Homes in great locations will suffer less severely from additional declines in prices and will generally increase at a faster rate than their poorly located competition.
2. Do your homework on price. Buy below the market. Spend enough time comparing prices to be aware … (3 comments)

Are Homes Really a Bargain? - 01/23/09 03:43 PM
 
Unlike retail liquidation sales where prices are regularly “marked-up” prior to discounting, current home prices represent a true sale. If you are in the market to purchase a home and qualify for a loan, the only question you may have is: Have prices reached bottom? And the answer is unequivocally: No one really knows. But, that’s not bad news; it’s just the fact. We won’t know when the bottom of the market has occurred until it has passed; and then, it’s too late.
 
The housing market will probably continue its decline throughout the remainder of this year, but that … (2 comments)

How Do You Measure Success? - 01/23/09 09:59 AM
Every day the media barrage us with stories about the housing crisis, the financial meltdown, the depth of the recession, the loss of trillions of dollars of investments, and possibility that our economy will sink into a depression. Homes have been lost to foreclosure; life savings have vanished; seemingly secure jobs gone forever. The stories and the reality of the personal losses causes some to consider suicide. But why?
 
Is it that our income has been reduced or disappeared altogether? Is it that our standard of living has changed? Is it that our security has been taken away? Is it … (4 comments)

 

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