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• Your home is not an investment

  Posted Aug 25 2009, 05:57 AM by Karen Datko
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  Filed under: Bargaineering, homes, home buying, property taxes, home prices, home selling
  Money Blog: Smart Spending Blog - MSN Money

  This devil's advocate post comes from Jim Wang at partner blog Bargaineering.

  A few years ago, when the housing market was sizzling hot, everyone and their mother talked about how their home was a fantastic investment. They talked about how a home that sold 10 years ago had quadrupled in value over the last five and cursed themselves for not buying more.

  I knew someone who owned four rental properties, all bought with adjustable-rate mortgages, and was making a "killing" on the rents and appreciation. I knew someone else who was looking at his paper riches and marveling at how wonderful homeownership was.

  Then the housing market stalled. ARMs reset. People were in rough shape. Those who overextended learned something the prudent have always understood: As much as your home is a great place, it's not an investment.   Read More...

  Discuss ( 82 comments) 21,725 Views Digg this | Email this | Link to this

• Woman buys house for $1.75 on eBay

  Posted Oct 02 2008, 02:17 PM by Karen Datko
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  Filed under: Karen Datko, homes, home buying, property taxes, home selling, bargain
  Money Blog: Smart Spending Blog - MSN Money

  Plenty of news stories point to gloom and doom in the U.S. economy, and "FMF" at Free Money Finance informed his readers about three: Car sales have tanked, bidding for a date with tennis star Maria Sharapova topped out at a mere $10,000, and -- the craziest by far -- a woman bought an old vacant house in Michigan for $1.75.

  FMF said in his tongue-in-cheek way, "I knew things were bad in Michigan, but never thought they were this bad."   Read More...

  Discuss ( 38 comments) 92,470 Views Digg this | Email this | Link to this

• The neighbors from hell are selling their house

  Posted Jul 20 2008, 10:47 AM by Karen Datko
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  Filed under: Karen Datko, mortgage, homes, home buying, property taxes, home selling, real estate
  Money Blog: Smart Spending Blog - MSN Money

  Do you want to purchase a Cape Cod with an asphalt front yard and an abundance of broken beer bottles and cigarette butts all about? Please, please buy this house and become the new neighbor of "Brainy Smurf," the blogger at Pants in a Can.

  You can't be any worse than the people who have the house up for sale. You'd think the very existence of these people would be enough to drive property values down (although, due to other factors, Brainy's property taxes have gone up).   Read More...

  Discuss ( 7 comments) 3,716 Views Digg this | Email this | Link to this