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Home Prices Up 30%? Wow! Time to Refinance?!
Several years ago Tim and I put our home on the market while we saw the home prices were stable but they were gradually decreasing if not dramatically. We had our home on the market for two years and dropped our price $100,000 and still didn’t get any offers. Every single agent said our home was staged beautifully and even priced right but apparently not right enough.
Looking back in hindsight it’s a good thing we didn’t sell because we were able to move back into her home after a two-year relocation to Missouri. We just rented out our home and were able to move back in. I love my home and I love our backyard and our beautiful view of the Cascade and the Olympic Mountains so looking back I’m really glad we didn’t sell. But now we’ve been looking at refinancing our home to get a lower mortgage payment. Just three or four months ago we were unable to do so because we didn’t have enough equity to refinance.
And then June hit.
Looking at the real estate market now all of the homes that even come close to our property are priced $50,000-$80,000 over where they were just ... more

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