I'd like to know why the media doesn't do all their homework. They keep talking about homeowners that are upside down on their houses, need to sell and owe more than what it will currently sell for. Did they ask the home owner how many mortgages have they taken out to get to that situation? What did they spend the money on that they refinanced for. Did they keep in mind the market price point of their neighborhood before putting that $100,000 addition on or added upgrades. Did they use a REALTOR to purchase their home and make sure that they haven't over paid? 9 times out of 10 I'm finding that if they bought a for sale by owner without an agent they have paid too much. And now when they call me to sell their home (with in 2 or 3 years) their house is not worth what they paid for it. Also, let's quit scaring the public and let them know that this is the BEST time to buy a home! Interest rates are low and inventory is higher than it's ever been. Let's do a little education to the public and teach them common sense money management. Seek out a professional to guide them in making inteligent descitions on the biggest investment in their life. Don't rely on the government to bail us out. The market will correct itself if we all just do our jobs and make smart descisions.
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