Comments on: Real Estate Doesn’t Always Go Up: A Personal History

By: ed hardy

ed hardy — Mon, 30 Nov 2009 01:55:50 +0000

You will be successful.

By: Ten Things I Love About Renting | Redfin Los Angeles Sweet Digs

Ten Things I Love About Renting | Redfin Los Angeles Sweet Digs — Fri, 18 Apr 2008 15:51:19 +0000

[...] owned homes all my life, but after my last home-buying experience, I find myself appreciating the relative simplicity of renting. Since many of you renters are [...]

By: Paying Off Your Mortgage: Your Key to Financial Freedom | Redfin Los Angeles Sweet Digs

Wed, 09 Apr 2008 17:16:48 +0000

[...] the last several days, I’ve written about my personal real estate history, where I concluded that a buying and holding real estate is the best strategy (as opposed to serial [...]

By: Phyllis Harb

Phyllis Harb — Tue, 08 Apr 2008 16:21:50 +0000

yes I am “feeling good” felt a lot better two years ago, but I love my home. And although real estate prices go up, then go down, they always seem to go up higher than the last high.

It’s all about loving your home and over time it will appreciate – but let’s face it, we all want to buy low & sell high.

By: Cindy Allen

Cindy Allen — Mon, 07 Apr 2008 01:01:10 +0000

It is all about timing, Phyllis. I’m sure you’re feeling good about your current home.

By: phyllis harb

phyllis harb — Sun, 06 Apr 2008 20:09:30 +0000

first home in Canoga Park about 5 years
2nd home in glendale about 5 years
3rd home in glendale another about 5 years – lost money on this one, but it’s all about timing
Present home la canada, 12 years

By: Cindy Allen

Cindy Allen — Sun, 06 Apr 2008 05:11:49 +0000

Hi, Tim! Thanks for you comments. I like your gambler analogy. Perfect.

Phyllis, did you own the properties for a long time?

Some Guy, I agree, it is a bit like buying stocks on margin. That’s a good analogy.

Yes, do your homework, buy low (or at least don’t buy high), don’t overextend yourself, and pay down your mortgage.

By: some guy

some guy — Sun, 06 Apr 2008 04:58:51 +0000

What didn’t really hit me until recently is that buying a house is like buying stocks on the margin. It amplifies the magnitude of your investment considerably (10X back when people could put 10% down) and if the house goes up in value then great, however if it goes down, as people are discovering, you have the potential to really take a massive hit.

So the moral of the story is do your homework, (ie. don’t buy a house unless you know it’s a good value for the area) and only pay what you can comfortably afford. That way if you and up living in the house for 10 years you can’t get hurt.

By: Phyllis Harb

Phyllis Harb — Sat, 05 Apr 2008 15:34:14 +0000

I have owned four homes (primary residences) have made money on three of them.

But each one was purchased as a home, my residence not as an investment.

By: Tim Hebb

Tim Hebb — Sat, 05 Apr 2008 15:02:01 +0000

For the sake of anecdotal comparison, my lifetime batting average on buying and selling homes is two out of three. I made a modest profit on the first property I owned with an ex-wife near downtown L.A. – a divorce gift, I guess. Then I lost a $30K down payment in the ’90′s when I had to short sell a N. Hollywood house I bought at the peak, just before the crash. Finally, I hit one out of the park in 2006 when I sold a Sherman Oaks SFR I’d bought in 2002. Overall, I’m well ahead. Like any addicted gambler, I expect to be back at the tables soon.