Editor's Notes
April, 2007
My husband and I were wondering if this is the right time to buy real estate?
I just saw a guy on Fox Week-End who wrote a book "Rich Dad Poor Dad" and he said it WAS the BEST time to buy if we buy the right real estate?. He also said he has bought much more real estate this year than last.
Isn't it better to buy when the market is what they say " a little low". My husband and I don't buy stocks when they are high. So, I would think, logically, now would be a good time to buy real estate.. Plus, my husband hates stocks. He says,buying real estate is better than stocks, at least no matter what- you have your real estate.
Next question, how do we know it is the right real estate to buy?
What do you think?
Ilia,
Montana
Dear Ilia,
I agree with you. That is a good book!! I believe he, Robert K. Kiyosaki, has another book coming out or is out, The new book is called: "Why you want to be rich." this one is co- authored with Donald Trump. I haven't read it.
I just heard it was coming out. Here's a link: http://www.richdad.com
Referencing your feeling that this is the time to buy. It is indeed! 12-18 months ago you were lucky to get into a new project. Today, for various reasons, be it political uncertainty or the hurricanes stressing completion dates, etc., you can actually "make offers" in some of the new projects or homes.
Since I mentioned homes, they are different than "resort vacation projects" They rely on a totally different buyer and "end- user". Market conditions affect homes so much greater than buying in resort or vacation areas, Here's why:
I know of this wonderful couple, and very successful .They have bought pre-construction condos for 15 years. Their motto, (not to steal their phrase ) lies within this "coined" phrase of theirs , " Only buy where other people pay to stay" " Or pay to play".
Find a location where the "local" or even the American economic conditions are NOT the only factors in the success of your real estate value. It just makes sense. Also, they said, " it's buying where other's save up to go play once a year or more."
Also, please consider that conditions to buy i
n" Pay to Stay" resort areas are extremely favorable right now and this too shall pass. So if you find a deal and you've done your homework--just take it!Ilia, the answer is clear. NOW is the BEST time to buy in the experts view.
Good Luck and Happy Holidays!