Greg Haraksin's Blog: All Categories

  Is there nothing good about lower home prices? While it may not feel good if you are a homeowner and your home may be worth less today than it was one year ago, there are some positive aspects to this ‘adjusting’ market. Homes may become more affordable for home buyers, particularly in the lower price segments.  The mortgage for yesterday’s $600,000 starter home becomes much more reasonable if prices move down — especially if interest rates decrease as well in the coming months. 2. If you are moving ‘up' ,  even if your current home loses $50,000 in perceived value, the home you are buying up to will move in a comparable manner down. In effect, you lose nothing and gain everything. 3. if you are happy where you are, and have a mortgage… Read Full Post