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You have heard "Why work for your money when your money can work for you". Now I am suggesting that "Why work for your credit when your credit can work for you" is just as powerful. It may even be moreso. If you have an investor mentality, you need to call today. This is not about flips, but the OK way to do what sounds very much like them.
If you are a seller asking this question, then Dr Mark, that's me, diagnoses you as having used house syndrome (UHS, of course). This is a condition which many good folks get into believing that they really have to go from starter home to second home to retirment community. You don't, trust me folks. That right; there may be ahighly effective, inexpensive enough treatment program to cure your symptoms and their underlying pathology. (Yes, it IS that serious!) What you need is to start thinking "Not so big house" and there has been architectural literature on this for the last 10 years to help you do so. This is where you combine scaling down the sq footage with ramping up all the upgrades for a house on the 4th tier suburban stream--where the lot cost is cheap for trees water and quiet.But you need a realtor to help find the lot, maximize profitabilty from the sale of your too big house, optimize the numbers and a help interface with a "class act" builder to make your dream house a reality. This is why you should call Dr Mark today for his sure fire treatment program. (Hint : doing so NOW could actually extend your life and its quality by 30 years or so!!!!!!!!!!!Waiting to long invites the possibility of .........well who knows what at our age, right? Call today.)
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Consider a bedroom community. This is one that's approximately 30 minutes from where you work. The easiest example is Hammond WI for people that work at 3M. Its an easy drive down 94. All freeway, so its not even hard on your car. In fact its even better for it than 15 minutes of daily rush hour stop and go city driving. But how much are we talking about? Maybe 20% less money for a comparable property closer in. Maybe more?
Without needing a downpayment, with stated income programs and with post depression era interest rates many people have been able to buy homes that they could only have dreamt of. But, with the tightening up of the banking industry, this has become less feasible in the last few months. That means there are even less potential buyers for a given property than there were before. That leads most people to believe that a loosening up of the bank's underwriting parameters will allow more people to buy. But I think that an increase in rents will be the next major catalyst. This will happen because of the recent foreclosure surge alongside of a growing shortage of rental units
