If you are a current homeowner, it's time to move up! You are among those home owners that bought after the housing and mortgage meltdown, you've done well and it's time to take advantage of that. The graph shows home appreciation in Maricopa County in Arizona and if you bought between 11/2009 and 8/2011, you're home very well may have appreciated between 50%-65%. Your situation is a direct result of timing and it's time to move up and take advantage of the housing market. Mortgage interest rates are still at historic lows and I am going to share a scenario that many will be able to relate with.
A few years back you decided it was time to buy a home. You jumped in, went through the mortgage qualification process bought your first home and most likely have an FHA 30 year fixed mortgage. Fast forward to today...you've learned a lot about handling your credit, maybe added children to the family, you make more money than you did when you first bought a home and now you have equity that you can either sell your home and use the gains to put down on another home or refinance your loan to a 15 year fixed conventional loan, hire a property manager to rent your home hassle free and go buy a new home with another FHA loan. If this sounds like something you would like to do or learn more about, fell free to reach me, Andrew Texidor or my partner Saul Mendoza and we will introduce you to a few great lenders you can choose from to help you take advantage of the current housing market. Maybe you want to move up to that newer community or your thinking its time to create wealth through owning cash flow property...either way, you're right and it's time to move up now!