You may have asked yourself once or twice about what is happening with the local real estate market? With layoffs and downturn what should I do or plan for? Here are a few things to take into consideration:
1. Create a comfortable financial reserve cushion of 3 to 6 months of living expenses.
2. Things, most likely, will get better from here so improving your home might not be a bad idea if you have the available funds.
3. Consider refinancing your mortgage. Rates are very low right now and Sean at Platte River Mortgage can help you figure out if it makes sense or not. You can reach Sean at 303.433.9902.
4. This may be a shameless plug, but consider buying more real estate. One of my favorite Warren Buffet quotes is, "Be fearful when everyone else is greedy and greedy when everyone else is fearful."
5. You may be suprised to find out that your house is still gaining value despite the struggling economy. It differs from area to area, but I've had a few clients refinance and their appraisals came in decently higher than what they had purchased the home for 6 months to a year earlier.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment