To Buy, To Sell, To Rent? What to do?

For all intents and purposes, I am certain that I can find a multitude of people who should do all of the above.....

However, I think that with all of the information that is in the news today, it can be very confusing.

Should I sell now? Are we going to see prices rise or prices fall further? What a seller needs to keep in mind is that real estate is local. Quite a lot of what we are hearing is from different parts of the country, and has no affect on our local market at all. I would suggest that you speak with a professional in order to determine what your specific market is doing. Parts of Long Island are booming, parts are flat and even some parts have fallen back slightly. Find out what your market is doing and price accordingly.

Should I buy now? I say why not? Mortgage rates are at historic lows (still) and home prices have dropped in our local market somewhat. (Not even 10% in most of the local Long Island markets). Do I foresee a further downturn? If I had that crystal ball to tell me that, well I would not be writing this blog now, would I? ;) What I do know is that we live on an Island and they aren't making anymore land! The city is moving our further east everyday....

Should I rent? Only if you can't buy.....have you thought of alternatives to straight renting? Rent with option, owner financing?

As you can tell, there is no one answer for all people. Ask questions, knowledge is powerful!