Tuesday, April 24, 2012
Kids Becoming Home Owners?
I’m going to go out on a limb here and guess that when you were fourteen, you weren’t thinking about buying your first home. Well, believe it or not, there’s a young girl in Florida who has taken advantage of this incredible buyer’s market.
14-Year Old Becomes Homeowner and Landlord
“Instead of using her $6,000 savings to buy an iPad, Willow Tufano bought herself a distressed property. And now she’s renting it out. Willow got help from her mother, who doubled her investment. Together, the two spent $12,000 to buy a 3-bedroom Florida short sale that, in better times, was valued at $100K. Now they are partners, since Florida requires a homeowner to be at least 18 years of age, but Willow plans to buy her mother out as soon as she can so she can own the home outright when she reaches the legal age.”
Admittedly, it’s a pretty incredible story, and certainly not the norm. But right now I’m seeing a lot of market activity which suggests that, despite what you read in the media, we may see see an uptick in sales and pricing on the North Shore. I think fear has been holding back a lot of people from seeing clear investment opportunities, and well, sometimes it takes the wisdom of a child to help us see the way!