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August 2009: Advice for Changing Times...
Posted August 10th, 2009 under market updates.
With all the changes our economy is experiencing, it's hard to know how to make the best real estate decision. So, here are two simple rules to follow:
First, take advantage of low interest rates, but don't max out your mortgage. Rates will eventually go up, and leaving a buffer will help you make your payments down the road.
Second, don't buy as a short-term investment. Instead, consider a home you'll live in for at least 5-10 years so you have time to accumulate enough equity. The good news is, with interest rates so low, you can afford to stretch a little further to buy a home that will stand the test of time.
Follow these two rules, and you'll ride the economic waves a little more smoothly.
Want to know more about the state of the market? Just ask me, I'll be happy to help.