Just two weeks ago, an article was posted up regarding an article by David Bach about why home owners get rich and renters stay poor in this previous writing by Grim: Homeownership Propaganda Machine Running Full Steam Ahead.
This morning I came across some new words of wisdom from David; mainly How to Bubble-Proof Your Home.
After my last column on home ownership appeared, I got a ton of e-mails from excited and upset readers. Many suggested that it’s simply too late to buy real estate.
Well, I feel that it’s never too late. The secret to real estate is timing, location, and financing. So, this column tells you how to protect yourself against a real estate slowdown.
I would really love for any real estate expert to elaborate more on the “timing” piece. According to most experts who have a vested interest in real estate, the timing is always “now”. They never seem to mention that prices fluctuate and you should wait for a “lull” period.
If you talk to any seasoned financial investor, the strategy is “buy low, sell high”. According to every person who is a broker/realtor or writes a book on buying real estate, the strategy is “buy now”.
-Richie
From The NAR Today…
Existing-home sales in the Northeast fell 10.0 percent to annual sales rate of 990,000 units in January, and were 13.2 percent lower than January 2005. The median price in the Northeast was $253,000, which is 9.5 percent higher than a year ago.
Sales fell but the home prices were up… When will they go down?
FYI:
This Dave Bach person is having sometype of 1st Time Homeownership Seminar in which is being funded by Wells Fargo. I heard the advertisement on CD101.9 last night.
What a complete shill this guy is. So the market is weakening, but it isn’t too late to buy? What utter nonsense.
Half of the posters on this blog say they are looking to buy and get in the game, or brag about how successfull they have already been in the game…. so why so tied up in knots about Bach’s advice???
“so why so tied up in knots about Bach’s advice???”
Because he couches his “advice” in condescending, manipulative rhetoric like the following:
“Just ask your parents and grandparents if they wish they’d purchased more real estate. My guess is they’ll say yes.”
With apologies to Scott adams and “Dilbert”:
Client: “So tell me your professional advice to time the market and make the most money.”
Realtor: “Buy now. always buy now.”
Client: “How will that help me?”
Realtor: “Ohhhhh, this is about you now?”
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