Do you fear a 2008 housing crash is looming in the wake of high home values and wild appreciation trends nationwide? Are you asking “should I wait to buy”? A reasonable question since I don’t know anyone who wants to buy at the worst possible time!
Let me give some context to what actually happened in 2008 and the factors that make 2022 different. Its important to remove unfounded fears and misguided comparisons that can cost you poor real estate decisions. Likewise, it's important to understand your personal risk tolerance, financial situation and personal circumstances. So what exactly happened in 2008?
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Earlier this year, we got tipped off to the Federal Reserve’s plan to raise interest rates. By going all in last month, the Feds quickly proved they were not bluffing.
The result? The hand the real estate market has been dealt is one of 10-year high interest rates. Monday, April 18th is Tax Day - the final day to file your 2022 taxes. If you’ve waited until the last minute or plan to file an extension, don’t forget that owning a home may provide some housing-related benefits. Keep these 4 tips in mind before you hit send.
Oftentimes, homeowners feel pressed to make a move for the wrong reason.
Keeping up with the Joneses, craving the newest and best or just having a personality that thrives on change can quicken the pace towards poor realty decisions. Your home should be a place that builds equity and fosters a happy and enjoyable environment. So if your potential move is being fueled by a home that just feels too small, consider a few tricks to make it feel more expansive. Just maybe you’ll find an expensive move will drop down on the list of priorities.
Here are 4 potential benefits of diversifying your investment portfolio – small or large – into real estate.
Contrary to popular belief, there are pros to renting vs. homeownership. Proponents of renting value the flexibility and the fixed-cost model it affords. Surprise repairs won’t derail your savings and renting serves as a great transition between home buys.
Buyers not yet qualified for financing due to a lack of savings, existing debt, or poor credit find it a necessary solution. And while renting may prove the best option sometimes, it does not provide the opportunity for generating wealth like homeownership does. So if you aren’t convinced it’s time to make a plan to exit your rental, here are 5 things to consider. Simply put, equity is what your home would sell for today (fair market value) minus what you owe on the home (loan balance). In real estate, these three things play a significant impact on the equity you get when it’s time to sell.
Caring for your home maintains its value, preserves equity and increases its desirability for both you and future buyers. So as you shed your home’s winter skin, add these important steps to your spring routine to keep it clean, safe and valued at top dollar!
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MoreOwning real estate should be a journey of building & preserving wealth through the equity in your home or other properties. Our resources are designed to give current and would-be homeowners tips & trick to maintain, improve & shop for their greatest asset. Your search for value in real estate stops here. Archives
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