AboutAl Romero, Ltrs. Expertise I can answer questions relating to general Real Estate in Pennsylvania including questions relating to Real Estate Investments and Landlord issues. I cannot delve out of my expertise ie;as in the practice of Law.
www.yorkhomeguide.com
Experience 5 years as an Investment property Advisor with a local Investment firm and 3 years of general practice.
Organizations National Realtors Association
R.A.Y.A.C
Pennsylvania Realtors Association
H.A.R
Publications york listings
Central Pa Real Estate Investors guide
Education/Credentials Center of Real Estate Law and Sales Practice.
Ltrs certified.
housevalues agent certification.
Expert: Al Romero, Ltrs. Date: 1/29/2008 Subject: Townhouse/appartment buying
Question Hello Mr. Romero and everyone as well :D
My name is Tony and I live in Warminster, PA (Bucks county). Me and my family came to the U.S.A. in 1999, where in 2002 we bought an apartment valued at $71,000. Now, we are almost done paying the mortgage, probably done by April. The current value is around $155,000. So, me and my parents are looking to buy a townhouse (with 3 bedrooms) or either house. Now, I want to know if now is the best time to buy a home or townhouse or apartment or later. Or should we buy a foreclosure. Also, whenever you think is the best time to buy, should we rent the current apartment, or sell it? I was thinking maybe to rent the apartment and with the money of rent to pay the mortgage of the home buying. Thank you so much. Tony.
Answer Tony,
Your gut feeling is correct! I would not sell your apartment home if you do not have to right now,it is a buyers market, time to buy not sell! Yes buy another property or townhome and rent the other out and when the market gets hotter which it will, if you want to cash in on the equity sell it then.
~AL Romero
