Industry News

Buying the ‘bad egg’ home

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

When the market is hot, it's hot. And when it's not it's not. That's not brain surgery by any means. So if you can buy a house for a bit of a "discount" because it's on a busy street in a great neighborhood and save a bit of money, should you? "I remember my first house very distinctly," a friend said over dinner the other night in his beautiful home with a drop-dead view. "We couldn't afford a house in the neighborhood with the number of bedrooms and bathrooms that we needed for our growing family so we bought one with an 'adverse condition.'" My husband and I leaned closer. We've been having this debate for more than 20 years now. I'm on the "yea" side of this argument, and he's on the "nay" side. "If you think that this is the best price you'll ever get for the house in this market," he says," what will you do if you need to sell in a downturn? Who will want this 'dog' on a bad day?" "What did you buy?" I piped in, eager to hear the yea side of this story. "It was the busiest,...