A busy week around here! Taking center stage is the fact that my lovely wife traveled to Kenya this week for a ten day medical missions trip. Dropping her off at the airport this past Thursday, she was excited and ready to get to work.
Should I Wait for Interest Rates to Come Back Down?
From the comment stream attached to this post on Facebook, I think you get my drift: mortgage interest rates should not be used as the sole reason to enter the real estate market, searching for your primary residence.
Excellent points here, to keep in mind, when considering buying a home that is an obvious flip. A flip is a home that an investor purchased because they felt they could buy, fix a bit, sell and profit significantly enough to justify the purchase and repair costs. One of the problems for buyers of flipped homes comes down to the renovating work done on the home. Was it a simple cosmetic make over (paint, carpet, drywall)? Or was there some serious issue with the home that was not addressed by a professional contractor?
Obviously, as a buyer of a flipped home, you should consider the following points, from the article:
- Find out who did the work
- Hire an inspector
- Look for structural problems
- Check the permits
What sound does the fox make?