Re: Parg's neices having problems selling their fantastic real estate "investments"


pandora wrote:
"Hyerdahl" <Hyerdahl3@xxxxxxx> wrote in message
news:1151594615.256722.192650@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

PolishKnight wrote:


http://www.bloomberg.com/apps/news?pid=20601109&sid=amJynxoSEAco&refer=home

"Shelley Grandy, 41, says investors ``dumping'' their properties have
stalled her efforts to sell her four-bedroom brick townhouse in
Sterling, Virginia. Grandy, who has two children, says she is moving
and plans to rent a home for a year or two in her new neighborhood.
Paint and Carpeting

I only have one neice, Mark. She doesn't live in VA and her property
has increased in value since she moved there. It's now up $40,000.
should she decide to sell. That's not a bad increase for the short
time she's lived there. In the meantime, you aren't even able to
start equity growth. Good to know. Guess your alleged wife will just
have to wait until her citizenship is established (or until the right
American man comes along).

It is definitely not a good time to be buying a house, that's for sure.
Prices have escalated over the past 5 years and are still going up. The
house buying market WILL drop, eventually, but it's anyone's guess as to
when exactly that will be. And those who are buying high, now, might just
be stuck selling very low, in time. We bought our home 5 years ago and it's
value has increased hugely. Of course, we won't be selling it as we love
the place and want to live in it, not make money from it. We are now living
in a home that we couldn't have afforded if we'd waited. We were just plain
lucky.

Because the real estate market is cyclical, the best time to buy is in
a low cycle regardless of how high prices are, unless we see some
unprecedented drop in the market. The reason my neice got such a great
deal on her home is because she bought in an area where there is a glut
of renters vis military obligations. Her home is still going up in
value and is predicted to continue to do so. Glad to hear you found a
place you love. Even those buying first time houses need to wait to
find just the right one and certainly the timing of that investment, in
a cyclical market is crucial.



Marg

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