Property Grunt

Thursday, November 01, 2007

You know things are bad when the comic book geeks get involved. Part 2

I recently received this comment about an entry I did in August.

Hey! Miles Perrie here: long time reader, first time writer...

....I'm a psychologist. I make a good living. Can I ask - what is so surprising about me buying a townhouse?


Thank you for reading my blog. I was pleasantly surprised to see my entry posted on the Slushfactory. and for all you Slushers out there, I am a frequent poster.

I am assuming that when you mean by "surprising" you are referring to the reaction of all the slushers on the forum including myself when you announced your purchase? If not. Please correct me if I am wrong.

I think the reason why everyone is surprised about your decision is due to the state of the market. As I pointed out in that particular entry the Florida real estate market is in a free fall. When this evolution occurs in the real estate market, that is when buyers usually take a step back, as I have stated in a previous entry, one of the key rules in real estate is never overpay and when the market begins plummeting like it is right now, the smart money doesn't go to the dance no matter how many suitors knock on the door.

You either wait for the bottom or look for a deal that fits your financial requirements.

Real estate, just like any other investment vehicle, does not come as one size fits all. Everyone has different needs and resources. That also goes with personal taste. I bring this up because I am not aware of your financial situation. So I am assuming that you did the numbers and they make sense for you. In the end, all that matters is that you are happy.