November 20, 2008 Are you crazy? Are you so flush with money that you don’t mind giving away $20,000 or $30,000 of your equity? I almost said “hard-earned” equity – but for most of us who’ve bought in the last 10 years, we didn’t have to do much other than sit back and watch our home appreciate. But however we’ve earned the equity, it doesn’t seem on the surface to be a good idea to sell right now. But what if I told you that by giving away $20,000 I’ll give you back $30,000? You’ve now netted $10,000. Sounds a bit better now, doesn’t it? You’re continuing to earn equity the “easy” way – even in this different market. Let’s say that you own a house that a few years ago was valued at $200,000 – up 30% from when you bought in 1999. Unfortunately prices have dropped in your area so now your home is only worth $180,000 – down $20,000 from 3 years ago. Ouch! It’s no good wishing you’d sold then – that window of opportunity has already passed. But if you have a stable job in an industry that appears to be weathering the economic downturn fairly well, then you might want to consider taking advantage of lower prices on larger homes. If you’ve had to drop your price 10%, then larger, more expensive homes will have to drop their price also. A home that would have cost $300,000 two years ago may now be listed for $270,000. Then add in the monthly savings of an incredibly low interest rate (I just spoke to a Mortgage rep and he told me as of December 30, 30 year mortgage rates are holding at between the high 4% and mid 5% range. Fifteen year rates are slightly lower at 4.75%.) So what does this mean to your bottom line? For many, the cost is only a couple of hundred dollars more a month for a much bigger comfortable home. Only you can do your calculate what the cost of moving into a more spacious home would be. If I were looking to move up, and my long-term employment seemed secure, I’d definitely be looking now! This is an inactive RePage. If you are Dean Weaver-Mueck, CRS, GRI, SFR and wish to reactivate this page, please visit www.RePagesOnline.com for instructions.

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Local Information for Raleigh, NC

Latitude: 35.818835 -- Longitude: -78.64459

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ZIP Codes for Raleigh, North Carolina	27601  27602  27603  27604  27605  27606  27607  27608  27609  27610  27611  27612  27613  27614  27615  27616  27617  27619  27620  27621  27622  27623  27624  27625  27626  27627  27628  27629  27634  27635  27636  27640  27650  27656  27658  27661  27668  27675  27676  27690  27695  27697  27698  27699
Area Code for Raleigh, North Carolina	919
Time zone for Raleigh, North Carolina	EST

Other Area Cities:   Apex, NC  Wake Forest, NC  Holly Springs, NC  Raleigh, NC  Cary, NC  Clayton, NC  Knightdale, NC 

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Raleigh is the capital of North Carolina. As of the 2000 census, it had a population of 276,093. Durham, Chapel Hill and Raleigh make up the three cities of the Triangle which is a research park created in 1959. Although the median home price has topped $200,000, homes are available in all price ranges, and the area is still more affordable than many other regions with similar economies. Raleigh's proximity to both the Atlantic coast and to ski slopes in NC and VA make it an ideal location. Raleigh's temerate climate allows for year-round activities such as golf, hiking, biking, fishing - some even in the city thanks to the parks and greenways system. Some of the most renouned museums in the South are located in Raleigh, as well as the NC Symphony orchestra. The BTI Center for the Performing Arts is one of the best in the country. Sports fans will discover many outlets for their enthusiasm - from ACC basketball to college teams. -- Source: Wikipedia.com