APP Article
From the Asbury Park Press "Home Sweet Home"
[Despite the recent fluctuations in real estate prices and sale prices that have fallen short of sellers' expectations, homeownership has proved to be a good long-term investment, financial experts agree.
Buying a home is the largest investment most people will ever make, said Shrikant Nadkarni, a certified public accountant, certified financial planner and shareholder at WithumSmith+Brown PC's Somerville office.
"Owning a home over a long period of time is generally a good investment idea," Nadkarni said. "It brings financial obligations and forces savings through paying down the mortgage while building equity."]
Full article...
posted by Little_Silvered at 7:30 PM
3 Comments:
"UPSIDE-DOWN ON MORTGAGE"
Falling prices trap new homebuyers
Neighbors in a new Garden Grove tract say a developer's plan to slash prices by about $140,000 has left them owing more for their homes than they're now worth.
By JEFF COLLINS
The Orange County Register
GARDEN GROVE – David Dunn felt as if Christmas were stolen from him when prices for neighboring homes in his new subdivision fell by about $140,000.
Now, he says, his home is worth less than he owes, making it next to impossible to refinance before his $3,000-a-month payment doubles. Eleven neighbors who bought before the price cuts are in the same boat.
"They put us in a bad financial situation by lowering the price," said Dunn, 33. "Some of (the buyers) did 100 percent financing, so they're completely over their head right now."
Brandywine Homes, developer of the 42-home Heritage subdivision in Garden Grove, is one of many homebuilders that's had to cut prices lately.
read more: http://www.ocregister.com/ocregister/money/abox/article_1381194.php
looks like the "BUBBLE " still has a way to go in FLORIDA
oops forgot the link..http://news.yahoo.com/s/ap/20070102/ap_on_re_us/million_dollar_trailers
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