I would not count on appreciation in any market. There are ups and downs. Sometimes the prices overshoot the equilibrium leve and drop back. Sometimes they pause and then resume. Betting on future performance is hard because we cannot see the future. About all you can do is study the market, remove the obvious dogs, and then gamble.
Personally, I am in the San Antonio market and I have been looking outside TX because the 3% property tax there is a real drag on prices.
Posted by bill mcmanus on March 21, 2006 at 09:36:53:
i have enough positive cash flow to pay my bills with a little left over.i own a vacant lot on a lake free and clear.i`v been told that i should build a home for my self to live there which would cost about 250,000 to build.the pre apprasel was650,000.should i go more in debt,if iam going to use the equity to buy more relistate in texas.i figured i could buy 15 more homes there that are apprieciting 10% a year with positive cash flow of 350.00 per property each.?
Posted by bill mcmanus on March 21, 2006 at 15:47:20:
if i put up a moduler i wont get that much equity out of it, plus this is were im going to live until i get old.if i dont bank on a 10%apprication im still cash flowing 350.00 $ a month. on 270,000 equity i can buy 15 texas homes.with the pay option arm.loan selling them on a lease option for 18 months