Turn on the six o’clock news or pick up a newspaper from the stand and, you’re likely to find tons of bad news about the condition of our national real estate economy. You wonder could there possibly be something good in the dark void? Can anyone make money in a market like this? Absolutely!
Buy low, sell high. This is one of the laws of real estate investment. If you have the opportunity and the means, now is the time to invest in real estate. With low prices, high inventory, and rates that are at the lowest levels in years, the benefits could far outweigh the cost in the future. The secret is buying the right property in the right location for the right price!
This “bright side” of the market poses a crisis for middle class Americans. Gas prices are at an all time high, the dollar is weakening, and expandable income is decreasing with rising fuel and food cost. If we can’t invest in a new home, here are a few options.
REFINANCE YOUR EXISTING MORTGAGE and take advantage of the great rates available.
If you have equity, you can try for a CASH-OUT REFINANCE, and use your profits to pay off debt or for home improvements, which can increase the value of your home.
The ultimate goal is to find creative ways to make the best of the situation. It is time to reverse the effects of spending more than we make by using the low points of our economy to find ways to decrease debt, lower interest rates, or make good investments. The long-term benefits are more usable income for stimulating the economy and investments in retirement accounts. It is good during a recession to exercise economic discipline and planning that will put us ahead for the future.
FOR LENDING ADVICE AND OPTIONS