Last week there was article in the Wall Street Journal regarding investing in real estate today. Although they did not directly mention Boise real estate, I think the questions and answers from the interview do apply.
Here is part of that article:
SOUND STRATEGIES FOR TODAY'S MARKET September 26, 2008
By June Fletcher, The Wall Street Journal
The financial markets are shrouded in gloom, but R. Donohue Peebles is still bullish about real estate. Head of the Peebles Corp., a Coral Gables, Fla.-based real estate investment and development firm with a $4 billion portfolio. His latest book is The Peebles Path to Real Estate Wealth: How to Make Money in Any Market (John Wiley & Sons:2008). Here's what he had to say in an interview yesterday in Vienna, VA:
Q: With all the financial upheavals of the past week, does it still make sense for the average investor to buy residential real estate?
A: It's a tremendous buying opportunity. Unless you need liquidity, real estate is the best long-term investment. I like the great leverage it gives you. You can live in it. And at some price, you can always rent it out.
Q: What's the best way to negotiate a price?
A: Start out 10% to 15% below what you want to pay. That way, you'll be able to negotiate for 2 or 3 rounds without going over your limit. Don't let your emotions rule you. If you don't have a deal, walk away.
Q: What's the best way to make money in foreclosures?
A: I don't think you should buy, upgrade and flip. You need to buy, rent and hold.
I hope that article will be helpful to you as you look to purchase real estate in Boise, Idaho, and surrounding communities. If you are in need of expert professional real estate help, please contact Tim Burroughs of the Tim Burroughs Group at Keller Williams Realty Boise. You can call him at 208-409-7653 or email him at Tim@TimBurroughsGroup.com.
If you would like to search the internet to see homes in the Boise area, please go to the most user-friendly home search website on the net: www.SearchBoiseListings.com
