Comments on: Attention Renters – You Are Wasting Your Money

By: Real Estate Expenses Are Profitable Tax Deductions

Real Estate Expenses Are Profitable Tax Deductions — Thu, 24 Apr 2008 19:26:06 +0000

[...] Attention Renters – You Are Wasting Your Money Bookmark to: [...]

By: Bob

Bob — Sat, 27 Oct 2007 11:17:18 +0000

Hi Clark – Thanks for your comments. I agree that if you are new to the area and having difficulty figuring out where you want to live, making rent payments on a temporary basis is really the only choice. If the people you talked with purchased a home here 3 years ago and then moved again, they should have made money and come out way ahead compared to paying rent for the same period. As far as the trend in home values, I can tell you with great certainty that it is not decreasing. Neither you or I know exactly what the trend will be in the future; however, the data overwhelmingly supports continued growth of 3-5% annually. If you are coming from a market where prices ran up at double digit rates for many years, I can understand how you might be fearful that the same thing might happen here. Just remember, you should have plenty of warning because home values would first have to increase by these same unnatural rates here for many years. So far that has not happened and we continue to enjoy one of the most balanced and predictable markets in the country.

By: Clark Frederick

Clark Frederick — Fri, 26 Oct 2007 16:54:10 +0000

I could not disagree more!! As someone new to the area it is hard to find where you want to be in 3 visits and many people we talked to have moved within 3 years because they like another area better. In addition, the trend of decreasing home values , in the price range of over $500K is going to decrease even here. This is because folks moving from other areas are getting less for their homes. We rented and it was the best move we could of made. Therefore, it is a matter of choice and knowledge of market trends.

By: The Best on The Vine This Week

The Best on The Vine This Week — Fri, 26 Oct 2007 16:00:13 +0000

[...] And finally, Bob over at RaleighRealEstateTalk does a good job of letting renters know they are wasting their money. [...]