8 tips for a slumping market
Successful real-estate investors share their know-how.
By Judi Hasson of MSN Real Estate
Here are tips from those who made good deals in this slumping housing market:
1. Do your homework before jumping in. Buy real estate in an area that is stable, with low crime and good schools.
2. Look for properties with good amenities such as a swimming pool and garage.
3. The top places to buy, according to some investors, are parts of California, Texas and some counties in Florida. The worst is Detroit, which had the highest foreclosure rate in the United States.
4. Focus on enhancing the kitchen, bathrooms and master bedroom.
5. Give it curb appeal.
6. Stay away from Jacuzzis. It's a good dating tool, but not a good idea if you have four kids, says real-estate investor Stephen Crawford of Richmond, Va.
7. Stay away from frame homes to avoid the risk of termite damage.
8. If you aren't good at fixing houses, find someone who is.
Click here to read "Bargains: The sunny side of the housing slump."
MSN needs your opinion!
We need your help!Please help MSN Real Estate serve you better by taking this short survey.Close X
FIND YOUR DREAM HOME OR APARTMENT
Date 6/14/13 1:30
Tooltip Information:Larry Ellison's Fantasy IslandVideo by:Description: Larry Ellison, the co-founder and CEO of Oracle, has ambitious dreams of transforming the island of Lanai into a self-sufficient and eco-friendly destination for travelers as well as a key exporter of exotic produce. Photo: Four Seasons.Rating: 4Views: 215
Date 6/14/13 1:55
Tooltip Information:Understanding real estate agentsVideo by:Description: If you're using a real estate agent to buy or sell a house, here's how to make sure you get the best deal.Rating: 4Views: 43649
Aired 6/14/13 0:29Clip
Tooltip Information:NBC TODAY Show:San Francisco Parking Space Sells for $82,000Video by:Description: An 8 foot by 12 foot rectangular parking space in a San Francisco garage was sold for more than $80,000, and real estate experts say a parking space can add as much as $100,000 to the price of homes in that area.Rating: 4Views: 68
Date 6/14/13 1:59
Tooltip Information:More Seattle homeowners buying 'air rights'Video by:Description: The latest trend in Seattle's real estate market has homeowners looking up for some quick cash. Depending on where you live, the air above your house could be worth a lot of money.Rating: 4Views: 188