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Old 08-13-2008, 05:40 PM
 
Location: Norfolk, VA
1,036 posts, read 3,970,465 times
Reputation: 515

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People should never buy a primary residence for investment alone, a home purchase is much bigger than that. However you should be looking at an exit strategy for when you do go to sell. You might love the home, but unless you plan to live in it forever you need a plan for how to sell it.

Part of the problem in housing was no one thought ahead. They just hoped prices would go up 20% or that they could magically refinance (or a loan officer "promised") out of their ARM in 2-3 years. That was wishful thinking and not a financial plan.
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Old 08-13-2008, 09:41 PM
 
Location: Los Angeles Area
3,306 posts, read 4,156,146 times
Reputation: 592
Quote:
Our realtor keeps trying to get us into some neighborhoods because they'll keep their value better/increase in value more over the long run.
Just curious does he have a time machine? If not then you can safely ignore what he is saying about long term trends in real estate. Better yet, ask him what his qualifications are for making such predictions. If he says "Because I'm a Realtor" then.....perhaps find a new Realtor that doesn't try to push crap on you that you don't want.
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Old 08-14-2008, 04:31 AM
 
38 posts, read 192,562 times
Reputation: 31
Price depends on how accessible and pleasant the place and house is. Lifestyle should be take into consideration when selling or buying a property.
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Old 08-14-2008, 11:31 AM
 
Location: Venice Florida
1,380 posts, read 5,929,715 times
Reputation: 881
When you are looking at a home you need to consider how much of what you do in life is an easy commute from where you'll be living. If you love to fish but fishing is a two hour drive you won't fish that often (I know its a dumb example but it works for me). Think grocery, gas, schools church etc.
School systems can be a real plus for neighborhood values. The schools in Howard county MD have a high desirability factor (mostly by the parents who want the best for their kids) so property in the school district sells faster so values are held.
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