Hi All,

My wife and I are thinking of buying a new home. We rent an apartment right now for $1,100. Our average FICO score is around 630 points. We're considering a townhouse right now that's maybe 15 years old. I am in Southern California and we're thinking of buying in the Valencia/Santa Clarita area. Are townhouses as easy to sell and make money out of as a regular house? I am very very new to this. If there is a link or a book that you guys can suggest for newbies like me, I will very much appreciate it. Thanks!

[This message has been edited by Cactoes Gel (edited 09-28-2004).]

Too many variables and local conditions you will not find in any book. If you are serious about purchasing, hook up with an agent. They will show you market data on townhome sales in your area.

------------------
If you are honest, you don't have to remember anything ... Mark Twain

This continues to be good advice...that is that every real estate market is different...even if only seperated by a few blocks. Carefully consider the inventory on the market in your desired areas, and determine if the property you want to buy representative of most other homes in the area. When it comes times to sell, if there are not any similar properties for sale...this could hurt your appraisal value (due to lack of comps), however it can also hurt you if there are too many of the same kind of properties for sale (or recently sold).

Actually (and this was several years ago), I sold a rental property (condo) of mine that was located in Santa Clarita. Agreed that you should hook up with a local agent, but mine sold relatively quickly since it's a pretty desirable area. I didn't make money on it due to the market conditions, but I did find that there were surprisingly quite a few buyers if you stage and price the home appropriately.

For me, I invest for house than townhouse. In house you can assure of better privacy and security.

Agreeing that you need to consult a local agent... Townhouses tend to sell quickly because, as it probably is for you and your wife, they are good transitions from apartments to houses. Generally less expenses than detached housing and retaining the security some people feel in apartment living.