Teach your kids what your grandparents couldn't teach you!

By
Managing Real Estate Broker with The Cascade Team Gig Harbor 98335
https://activerain.com/droplet/4M9

 

1.  Over the last couple of years people saw huge increases in the values of there homes.

2.  Grandma and Grandpa said "crazy times be careful"

3.  banks were pressured to lend to unqualified buyers, "American Dream for everyone plan"

4.  People used there homes like piggy banks and then "oh crap! my variable rate mortgage that everyone warned me about just rolled and my interest rate is 10% on my $ 700,000 McMansion that is only worth $ 300,000".

5.  Banks make more money if they forclose than if they shortsale, plus it's easier for the bank.

6.  Grandma and Grandpa's house that was worth $ 500,000 3 years ago is only worth $ 250,000 now but that's OK because they have seen the cycle before and they didn't take out a loan against the inflated values.  Their fine and you'll still get your inheritance!

7.  The current administration, I will not throw names, has dumped hundreds of billions into the problem and that won't help anyone it will only tax the taxpayers even harder.

 

So hopefully if you learned anything it's that everything runs in a cycle.  If you got caught up in it, that's fine hopefully you will pass on to your kids what you learned.  I know that my kids are learning this, and I will try to keep as much information as I can because when they are old enough to buy a home and I tell them this could happen they would never believe me.  Just like we didn't believe our parents and grandparents.  Fortunately life goes on, interest rates couldn't be lower, and that house on the water you've always wanted is now affordable.

 

Good luck, be blessed, and most importantly call me so we can go buy your Dream House!!

 

Brady Howard

757-635-2516

bradyhoward@kw.com

 

P.S. pass this on to your kids as they start on thier new adventure!

 

 

First day of second grade, Khode, Laurel, Braeden

Posted by

Brady Howard

Managing Broker

The Cascade Team

Gig Harbor

253-720-3503

info@BradyHoward.com

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Virginia Virginia Beach City County
Groups:
Realtors®
Tags:
lessons learned
it is time to buy again
dont worry that you screwed up and used your house for a piggy bank

Spam prevention
Show All Comments
Rainer
32,444
Keshia "K" Torruella
Jacksonville, FL
Keshia "K" Torruella

These times have taught us a lot, I think we all have developed resilience, and hopefully my kids have understood the issues and gotten the since that we can make it through anything! Now is a good time to buy a home!!!

Sep 07, 2010 02:03 AM #1
Rainer
33,002
Stephanie Williams, Realtor Murrells Inlet
Seaside Properties - Murrells Inlet, SC

So many simple concepts in there that many people don't seem to get.  Everything runs in cycles and it will correct itself.  Run your own numbers, don't let someone else tell you what you can afford!!!  Thanks for the post!!

Sep 07, 2010 02:04 AM #2
Rainmaker
145,213
Brady Howard
The Cascade Team Gig Harbor - Gig Harbor, WA
Managing Broker, The Cascade Team Gig Harbor

Keshia, and Stephanie in the end I hope we all learn from this, I am pretty sure that when I'm a grandparent it will happen again, I just hope that my kids don't have to re-learn it!

Sep 07, 2010 09:25 AM #3
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
145,213

Brady Howard

Managing Broker, The Cascade Team Gig Harbor
What is my home worth?
*
*
*
*

Additional Information