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Things to Remember when Investing in Real Estate
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Wednesday, 02 August 2006

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The changing real estate market always catches our attention. It is hard ignoring it. Until today,  many people still go to Florida, Las Vegas and many hot spots to purchase yet-to-be built homes and condominiums, which they immediately flip for a quick profit.

The real estate bubble has popped in many areas of the United States. Therefore, you need to consider real estate as a long-term investment. If your aim is to get rich quick, then forget about investing in real estate.

The bursting of the real estate bubble has earned much media attention lately. This may have a negative impact on the economy of the United States. Home sales have slowed, values of properties have declined, and mortgage interest rates have risen-and all this, in turn, has led to confusion, fear and apprehension among many sellers and buyers. You may ask, is real estate still a good investment today?

However, there are still real estate 'bubbles.' Remember to consider the bigger question. How are you looking at your real estate investment? If you are looking at real estate as a quick three-year investment, that could be a problem for you.

Consumers who buy homes for their own use tend to commit the first financial mistake. That is financing theor purchase at a longer period using long-term mortgages with high interest rates. They only end up paying and owing more money that the actual value of the property.

The second mistake that homeowners commit is that they get overwhelmed with all the news and press releases about interest rates increasing and housing prices increasing. They then impulsively buy a home even when they are not financially ready to purchase and pay for a home.

Never consider buying a home if you think you are financially unstable. Buying a home is  not a wise idea. Always remember that real estate is a great investment when done right. However, it would make you life horrible when done wrong.

By M. Sese
http://realestatepress.org

 

 
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