I have decided to drop in a link to a post that I did this summer. The concepts are just as valid today. I hope that some of you find it interesting reading. In my practice I see way too much emphasis on the value people attribute to their home. We love real estate as an investment vehicle, but keep the focus on "investment", not on home equity or home values. We encourage true investing. We do it for ourselves and share our experience with our clients.
Leolinda Realty - Surprise, AZ
Sun City Grand in Surprise Arizona
It's unfortunate that people used their home equity to pay off credit cards, buy boats and/or cars and take trips.
Dec 05, 2008 10:38 AM
www.LorainCountyHomeSales.com - Avon, OH
RE/MAX Omega: Lorain-Medina County Area
Todd, so many times I hear of homeowners heading into a money crisis & easily dip into their home's equity for readily needed cash. In fact, a relative of mine, seems to refinance every couple of years when the charge cards get maxed - to clear them out & start again. Here in Ohio, home values have steadily increased until the last year - and with more and more jobs being lost, several homes are left vacant - people just walk away. Sad. Thanks for the post - Carla
Dec 05, 2008 11:49 AM
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker
Other than my mortgage, I really try not to carry debt so this just amazes me, but it is so different for younger generations as I see with my son thinking he can live off his credit cards.
Dec 06, 2008 09:42 PM
Rainer
500,223
500,223
Todd Foust
North Orange County, Anaheim Real Estate Brea Rea
Service Areas
Real Estate Resources
Recent Posts
ActiveRain Community
almost 14 years ago
Comments(3)