Real estate is changing hands in ways that make headlines. Whether youre a buyer or seller, here are some tips to help you make the best deal.
BUYING:
So you want to buy a house? In this market? Are you nuts? Actually, it depends on where you are. You could be very shrewd right now if you pick the right spot, the right pricing trend and bid aggressively. It requires homework, homework, homework.
Example: My wife scoured a market, screening 90+ houses. We eventually found a fixer-upper for $162K. We offered $160K the same morning it was listed. They took it on a handshake. One year laterwith no improvements!we sold it for $208K. For those of you without a calculator, thats a 30% return on the investment.
And you can do it, too. Heres how:
1. Pick a growing area. This is essential. Yes, its hard to predict economic cycles and which metropolitan areas are going to prosper over the next year or so. However, if you read the business pages regularly, youll have a much better idea of where to buy/invest.
2. Learn the market. This is also essential. Youve got to know whats out there, what houses are going for and how to spot...
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