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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: benwood who wrote (63044)	6/23/1999 1:33:00 PM
From: Michael Bakunin	Respond to of 132070

..another consideration is that rents tend to lag equivalent home prices during manic buying periods, like the current one for hot US markets like the Bay Area (and probably Seattle). New renters, like new home buyers, are out of luck -- but my rent hasn't gone up this year, while new home prices are up in two digit percentage terms. -mb

To: benwood who wrote (63044)	6/23/1999 1:51:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

ben, here are some home buying guidelines i follow as best as i can: 1. buy a home close to what you consider a reasonable value (this will prevent buying homes when the 1988-89 bubbles occur). 2. buy a home where your mortgage + taxes equals about what you could reasonably charge in rent. 3. never pay points on a mortgage to get lower interest rates. if rates drop - refi. if they go up - you got about the best value anyway so be happy. anyway, they may go down later. 4. shop around for the mortgage. minimize fees and the rate. i paid 1/4+ less than the avg mortgage and i paid $1-2k less in fees by shopping around. other ideas include... 5. if you move, rent out the house. i own a condo and a home (paid more than i wanted to for the home, but was high end reasonable. i look forward to paying off the condo, moving to a nicer house and turning this house into a rental. don't rent to just anyboday (nightmare!), but treat your good tenants well. 6. do your taxes - have h&r block double check them - if they find something then they charge). 7. pretty soon you have 3-5 houses with a couple paid off. 8. retire w/ tons in equity and place to live....