About The Law – June 2012
IS THIS THE RIGHT TIME FOR YOU TO BUY A HOME OR INVESTMENT PROPERTY?
There is an economist whose name is I. Will Flipacoin. You have heard him speak and you have read the articles he has written. He wants you to follow his thoughts about the reasons for buying real estate -- or not buying -- at this time. It is hard to know which to do.
The rates are low, the prices are right, the market has stabilized. Sellers are motivated, the market will go down more, the economy is tanking, people cannot afford to pay their rent … do you want to be a landlord? And might you lose your employment?
Best of luck, if you listen to Mr. Flipacoin.
What should you do? First listen to your gut, and then have a serious family discussion. Next, look at your finances, your job stability, whose income will be relied upon if a job is lost. And then call your accountant and attorney.
Find a good real estate agent to help you look around and see if there is anything you want to buy. Consider location, schools, commuting distance, noise, maintenance, etc. Then make a choice.
Mr. Flipacoin has no skin (coin) in the game, so do not believe everything he writes or says.
I have been involved in thousands of closings in more than four decades of practice. There is little I have not seen.
Call me, Barry Gordon.