Straight Talk About Real Estate

With everyone talking about the real estate bubble bursting, should you still buy now or wait?

I cannot guarantee that you will not lose money in real estate. I have sold homes for people who have lost quite of lot of their investment. They bought when the market was high, and had to sell when the market went south. I have sold homes of people who lost their jobs and couldn’t make the payment, had to sell their home and walked away with nothing. I have sold homes for couples who are forced to sell in a low market due to divorce, and lost money. I have rented homes to families who lost their home in a foreclosure and had to rent a smaller home in a less desirable neighborhood.

If you are uncertain about your own ability to budget and make the mortgage payment, if you have difficulty holding a steady job, if your type of work in seasonal or subject to fluctuation, if your job skills may become obselete, if you are transient and cannot see yourself living in the same place for more than 3 years, then I recommend you not take the risk.

Homeownership is more than monetary. There is pride in owning your own home. There is a feeling home instead of just living quarters. There is privacy, community, stability.

Every situation is different, but unless your uncertainty is grounded on good reasons, don’t let a little risk hold you back from enjoying homeownership.