Do you hear people say that they are waiting for the market comeback before making a move? Some homeowners want to think that housing values will soon increase, hopefully bringing a market back into position of equal value to loan ratio.
A vast majority of homeowners that are underwater are reluctant to selling their home for less than they paid for it and will behave irrationally by keeping their home on the market much too long, at times to their detriment in hopes of getting the most they can as they continue to wait for the market to turn around. But, why should it matter if you sell your home for less, when you can buy your next home for less too?
Perhaps waiting for the market to adjust will steer your focus away from the benefits of the current interest rates. With rates being as low as 4.50%, some economists say that refinancing existing home loans, or trading up to a bigger home for less money, can be a smart move-even if it means putting down more cash to get out of old mortgages. Think of the benefits of taking out a new loan with far lower rates that can offer shorter repayment terms!
Shifting your mind set when the market shifts can help you produce a return on your investment. In the past, financial planners recommended financial market investments, but with it's volatility, devoting extra monies toward Real Estate can be considered your most sound investment. My opinion is such that, the market has already made a comeback!
Comments(3)