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Strategies & Market Trends : Take the Money and Run -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (12177)	8/1/2002 3:05:54 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 17639

We looked at taking profits on our house and moving a little bit further out of town where we could get a similar place for about 2/3 the cost. After crunching some numbers, we figured that the RE market could drop pretty significantly and we are still better off staying where we are. Moving ain't cheap. Getting a new house ready to move in ain't cheap either. The thing that worries me most is that the inflated property values coupled with low interest rates encouraged people to do home equity loans that may be difficult to service as people continue to lose jobs and/or take pay cuts.

To: MulhollandDrive who wrote (12177)	8/1/2002 3:20:02 PM
From: Libbyt	Read Replies (1) \| Respond to of 17639

what is ridiculous is to hear the pundits talking about all the wealth "created" by ever increasing real estate prices.. I would agree with you...especially if you are talking about the average homeowner, and not someone who owns numerous homes for investment purposes. ..it appears only through some very aggressive financing can first time buyers afford a home. Again, I agree. I know in my area, a "starter" home is almost impossible to find. "Creative financing" will be an option IMO for more sophisticated buyers and sellers...just like it seemed to be during the time when interest rates were extremely high. There are some sellers who may be "downsizing"....who may not need the money immediately out of their home sale, and probably would be willing to help with the financing of their sale to a qualified buyer.