Friday, April 21, 2006
5 Key Ways to Avoid Buying a Bad Condo
Emeryville Condos
I like the advice that Robert Truss, a writer for Inman News, gives on buying condos. You can view his whole article HERE.
"Whether you are a first-time home buyer, or a retiree planning to "down-size" your residence, condominiums are "hot" during the 2006 peak home-buying season. In most communities, condos are still affordable for home buyers."
"Condominiums are no longer the "ugly ducklings" of real estate. Now they appreciate in market value almost as fast as single-family houses."
What Robert Truss goes on to cover are the following headings;
WHY BUY A CONDO INSTEAD OF A HOUSE?
NEW OR RESALE CONDO -- WHICH IS BEST?
THE FIVE KEY QUESTIONS CONDO BUYERS SHOULD ASK.
Rent Vs Buy?
An article written in the Chicago Tribune a few days ago, by Alexia Elejalde-Ruiz, entitled "Rent Vs Buy," raises some very good issues in this ogoing debate.
"Rents are experiencing their sharpest hikes in five years, and mortgage interest rates that hit a 40-year low several years ago are on the rise. People on the fence about whether to buy or rent are feeling the squeeze from both sides."
As a further indication that rents are on the rise, the Mercury News reported,
"SANTA CLARA COUNTY APARTMENT COSTS UP 5.8% FROM A YEAR AGO."
This was publihed today in an article entitled, "Rental Rates Rebounding in Valley," by Michael Liedtke.
"Apartment rents are increasing more rapidly in Silicon Valley and other major markets in the West as the economy produces more jobs and rising interest rates prevent more people from buying homes, according to statistics being released today."
"The market is changing, and a lot of times that's the time to act," said Ron De Vries, vice president with Chicago-based Appraisal Research Counselors. "Maybe it's time to buy while interest rates are still low. Or maybe this would be a good time to rent before the increases come through."
Use this calculator to determine whether it is a better financial decision to rent or to own a home.
I like the advice that Robert Truss, a writer for Inman News, gives on buying condos. You can view his whole article HERE.
"Whether you are a first-time home buyer, or a retiree planning to "down-size" your residence, condominiums are "hot" during the 2006 peak home-buying season. In most communities, condos are still affordable for home buyers."
"Condominiums are no longer the "ugly ducklings" of real estate. Now they appreciate in market value almost as fast as single-family houses."
What Robert Truss goes on to cover are the following headings;
WHY BUY A CONDO INSTEAD OF A HOUSE?
NEW OR RESALE CONDO -- WHICH IS BEST?
THE FIVE KEY QUESTIONS CONDO BUYERS SHOULD ASK.
Rent Vs Buy?
An article written in the Chicago Tribune a few days ago, by Alexia Elejalde-Ruiz, entitled "Rent Vs Buy," raises some very good issues in this ogoing debate.
"Rents are experiencing their sharpest hikes in five years, and mortgage interest rates that hit a 40-year low several years ago are on the rise. People on the fence about whether to buy or rent are feeling the squeeze from both sides."
As a further indication that rents are on the rise, the Mercury News reported,
"SANTA CLARA COUNTY APARTMENT COSTS UP 5.8% FROM A YEAR AGO."
This was publihed today in an article entitled, "Rental Rates Rebounding in Valley," by Michael Liedtke.
"Apartment rents are increasing more rapidly in Silicon Valley and other major markets in the West as the economy produces more jobs and rising interest rates prevent more people from buying homes, according to statistics being released today."
"The market is changing, and a lot of times that's the time to act," said Ron De Vries, vice president with Chicago-based Appraisal Research Counselors. "Maybe it's time to buy while interest rates are still low. Or maybe this would be a good time to rent before the increases come through."
Use this calculator to determine whether it is a better financial decision to rent or to own a home.
Labels: Bay Area Real Estate, Buy vs Rent, Calculator, Emeryville Condos
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