Property values in my area went up again in 2004. This time, up 27% on average.
I am worried about negative equity and/or the possiblity that I won’t be able to rent out a new residential home within 2 years.
Apologies if these threads have been done before but as of July 1, 2005, I think that finally - a correction is due in certain metropolitan markets, The Seattle area, being one of them.
Thoughts and comments?
Dolf de Roos says: “the deal of the decade happens once a week.” Still pretty sound advice. To buy a “deal.” It’s got to be one. Don’t pay retail. Buy wholesale.
My advice? Don’t live in the speculator game - buying Phase I pricing to sell in Phase II. It only works as long as an upturning market lasts. When it turns, your profits turn with it, ESPECIALLY when you have a nice large inventory from earlier “successes.”
Remember: it’s better to make a short nickel than a long thin dime.
Chris Michaud