Perhaps the time has come...
Perhaps the time has come to resurect this Blog:
I have been a real estate broker for more than 30 years -- I am not an investment broker!
I know that it is the common perception that real estate is an investment – it is not. At least not primarily. Your spouse is not an “investment!” Your car is not an “investment!” Your jewelry in not an “investment.” They are all good, and useful, but you did not purchase them as an “investment.”
There are two times when you should check the value of housing, when you buy your first home, and when you sell your last home to move to a retirement center. In between, a home is to keep you warm and dry -- but if you want to move the value of your house AND the value of the home you are interested in buying are most likely both moving in the same direction, at about the same speed!
No one should move just for the heck of it -- in any market -- but if you have sufficient reason to move, the house you are buying probably went up (or down) by the same amount!
That said, if you want to buy in this market – get an outside appraiser and offer 10% less, with the premise that if the home stayed on the market, unsold, that would be the September price.
If you wish to sell, get an outside appraisal and price your listing at NO MORE than that number.
I have been a real estate broker for more than 30 years -- I am not an investment broker!
I know that it is the common perception that real estate is an investment – it is not. At least not primarily. Your spouse is not an “investment!” Your car is not an “investment!” Your jewelry in not an “investment.” They are all good, and useful, but you did not purchase them as an “investment.”
There are two times when you should check the value of housing, when you buy your first home, and when you sell your last home to move to a retirement center. In between, a home is to keep you warm and dry -- but if you want to move the value of your house AND the value of the home you are interested in buying are most likely both moving in the same direction, at about the same speed!
No one should move just for the heck of it -- in any market -- but if you have sufficient reason to move, the house you are buying probably went up (or down) by the same amount!
That said, if you want to buy in this market – get an outside appraiser and offer 10% less, with the premise that if the home stayed on the market, unsold, that would be the September price.
If you wish to sell, get an outside appraisal and price your listing at NO MORE than that number.
posted by Kimo | 9:56 AM
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