bostonbubble.com

[what 2 do]

I have come across an opportunity to purchase a 2-family home in a nice town for 60K (10%) below Zillow (The stereotypical little old lady died and the out of state family trying to sell with no realtor and priced appropriately). I have read all the various blogs about the crash and I absolutely believe a meltdown is coming. That being said. This is a damn good price on a house that could produce rental income and would be probably be the price of single familes in the town. Does one pull the trigger for a great deal in the midst of all this turmoil?

[john p]

I did. The determining factor should be how long you intend to stay there. If it is just for a short period of time, the risk is that you may need to bring money to the table in the closing if the market drops too much. However, because everything is relative a good deal is a good deal so if your property drops $50k the house you want to move to later might drop $80k. Because of baby-boom retiring and the investment percentage of sellers dumping their properties, you will be finding more willing sellers like this one.