Tara Farquhar's Discussions

Take a look at the Seattle Times Real Estate section in this Sunday's (8/19) paper. The front page has an absolutely AMAZING article on just this topic. It explains all the cons...some of the pros. The article also gives a great description of how a lease to own is set up.It also depends on the state you're moving to. In Washington State the lease to own option is not that prevelant and there are few safeguards set up to protect the renter/buyer. I've heard that option-to-buy is very prevelant and your average local real estate agent would have extensive information.Good Luck!Tara

I just got back from the Dallas-Ft. Worth area of TX. I'm looking into rentals in the area because rents are almost as high as they are in Washington, easily covering your mortgage. The housing prices are UNBELIEVABLE! I found a 3br new construction for 71K. The problem is -appreciation is extremely low. For example, in 1972, my parents purchased a brand new brick rambler in Ft. Worth for $30K. In 2007, the home is now worth $85K.In 1978, my friend's parents purchased a rambler in Burien for $24K. In 2007, the home is now worth $325K. Because Texas is considered "undesireble" to a large population and incomes tend to be lower, appreciation will continue to be slow. It all depends what your long term plans are. You can get so much more for the money though! Eating out is even less expensive.Good luck!tara

To deal with the first post. I always suggest to my clients to first see their financial advisor / accountant to pencil out where their money will make the best return. Buying a house is not always the best investment. In some cases -in some markets, stocks or bonds may be more lucrative. You need to put together a team of advisors, real estate, lending, and financial, to determine whether buying is right for you and you're family.Unfortunately, finding a trustworthy and competent team of advisors is half the battle. However, when dealing with such a huge investment, it's worth the effort. Especially when being wrong my have you sleeping on the couch for years to come ;)Tara