Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: TheStockFairy who wrote (112902)	7/16/2001 7:47:13 PM
From: Terry Whitman	of 436258

I have a few nuggets of real estate knowledge to share: 1) Price is determined by 3 factors primarily- Location, Location, and Location. <g> 2) There is a factor that RE pros use for determining what level home prices in a certain area will be. 2.5X annual gross family income should be close to the avg. home price in any given area. If prices get out of alignment to the high side- you can bet that the area is in either a growth or bubble phase. If it's a growth phase, wages will probably come up to meet the home prices- you can't wait it out. If it's in a bubble, as I suspect it is in da region- RE prices will either fall, or stay stagnant as wages increase. If wages start to fall-look out below! 3) No matter how you slice it- It's almost always better to be building equity in a home rather than enriching a landlord. Even if it's a single wide at the trailer park. <g> 4) As long as the IRS treats primary homes as a tax free income shelter- people will continue to build new homes then sell and move up to larger ones. 0% on cap. gains beats the Hell out of 20% any day. TW

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