Saturday, January 06, 2007

Slower Market? Buy! Says Expert

"Because houses aren't flying off the shelf, there's less pressure on you to make a quick decision" about that second home you've always wanted. "You can afford to take your time, do your research, and refine your plan," says Christine Karpinski, director of Owner Community for HomeAway.com and author of two books on the subject, including Profit from Your Vacation Home Dream: The Complete Guide to a Savvy Financial and Emotional Investment. In addition, "when your monthly mortgage payment is less than or equal to one peak week rental, twelve weeks of rental will cover your mortgage payments for the entire year," she says.

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