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Beyond the "Bubble"
Smart Home Buying (and Selling)
in an Age of Hype
in an Age of Hype
Residentially speaking, there's never been a more confusing time for Americans. Mixed messages abound. If you're a renter, you wonder if it's time to buy. After all, house prices keep rising steadily. What if you wait so 
long that you're priced out of the market? Plus, interest rates are still manageable. On the other hand, if you already own a home – especially one in a hot market – you wonder if it's time to sell. What if the much-dreaded "bubble" bursts before you get your piece of the pie? And even if it doesn't, don't you deserve to "trade up"?
Take a few minutes to benefit from the cool head and sage wisdom of financial counselor/real estate guru Eric Tyson, author of Home Buying for Dummies, 3rd Edition (with Ray Brown; Wiley, 2006), House Selling for Dummies, 2nd Edition (with Ray Brown; Wiley, 2002) and Real Estate Investing for Dummies (with Robert S. Griswold; Wiley, 2004). Tyson urges prospective buyers/sellers to think it through carefully before taking the plunge.
"It's easy to get so caught up in hoopla and hysteria that you make an emotional decision or a too quick one based on false assumptions," Tyson says. "Don't do it. Buying a home, whether it's your first one or a trade up, is a big deal with big implications for your economic picture and your quality of life. Think it through."