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Is it wise to buy in the USA now?

Q: I have heard that the U.S. will bottom in February, 2011. House prices are as low as $25,000. I also heard about foreclosures. Do you think it wise to look there now?

A: Wow! In February, eh? First, the U.S. is a big place, markets that had the biggest price collapses – Miami, Phoenix, Las Vegas and parts of California – have bottomed right now. Second, every state is different for Canadians. In California you must declare your world income, in Florida your property taxes are more than double than for a Floridian. Third, that $25,000 house (likely in Detroit) you can only visit with a gun in your pocket. Fourth, in my Real Estate Investment Course I tell my students that if they do not look at the property they want to buy for themselves, I am going to hit them with my laptop. Whether it is a foreclosure or not. But particularly if it is a foreclosure. Sixty per cent of the foreclosure deals offered are NOT a deal. If you go to our website at there are 24 articles on U.S. investing. There is learning to do!

About Ozzie Jurock

OZZIE JUROCK (FRI) is the author of Forget About Location, Location, Location. Ozzie Jurock is also president of Jurock Publishing Ltd. Peter C. Newman in his book Titans called him a Real Estate Guru. Vancouver Magazine called him one of the 45 brightest people in Vancouver. Ozzie Jurock appears every 2nd Wednesday on Global TV News Hour. He also authored the book: Forget About Location, Location, Location and has written hundreds of published real estate articles in the Vancouver Sun, Business in Vancouver, the Globe and Mail, the Western Investor and dozens of magazines. (List of published articles.) Several thousand people have subscribed to his monthly and weekly newsletters Jurock Real Estate Insider and Jurock's Facts by Email.

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