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Thursday, December 1, 2011

Advice from a Millionaire

When it comes to advice on buying a home, I like to refer to the experts.  Multi-billionaire John Paulson, the investment genius who made a lot of money in the business of short subprime mortgages a few years ago, recently spoke to a standing room only crowd in New York City about what works and what doesn’t when it comes to investments. 
Since this is the best time in 50 years to buy homes, Paulson advised his listeners to take out 30 year mortgages to buy a home since “your debt and interest payments get locked in at record lows, while the price of your home will rise.”  Paulson recommended “If you don’t own a home buy one” and added “if you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.”
Not only do I wholeheartedly agree that now is a great time to buy, I also strongly recommend that you contact a REALTOR® to assist you in your home purchase.   They will help you navigate the various options and gain perspective for both a buyer and a seller.  You will benefit from a REALTORS® knowledge, experience and personal care.  Let a professional help make the entire process much easier. 

John B. Leonardi, RCE
CEO, Buffalo Niagara Association of REALTORS®, 
WNY Real Estate Information Services, LLC

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