Michaelle Barnard

Investing in real estate will always be a good investment. It's not as speculative as the Stock Market, nor as volatile. I have lived most of my life in Washington State (Olympic Peninsula) and have experienced the growth and appreciation of real estate. I have also seen the same growth and appreciation in Southern California. There will always be the ups and downs in home values, largely due to normal market adjustments after rapid appreciation rates. Why buy now? There are some great buys out there with the increase in bank owned properties. These are good buys for buyers who: 1) do not need to sell a home in order to buy, and 2) rental investments. Even in the stock market you try to buy low and sell high. Same thing in real estate. For first time homebuyers, they need to stay focused on getting into a home that will appreciate in time. It may not be their dream home, but they are building equity. The mistake I have seen is buyers who over extend on their mortgage because their dreams exceed reality and they end up in financial difficulty. The mortgage industry made it easier for this to happen, but ultimately the buyer is responsible for their financial decisions. - Thu Aug 7 2008, 17:48