Have you been paying attention to the housing market lately? Ever since the value of homes began rising in late 2011, they just haven’t slowed down! In the past few months, I have seen only a hand-full of for sale signs out in the front yard, and they certainly don’t last long. Many of these houses are being sold in 15 days, 11 days, and others in just 2 days! The housing market has certainly picked up steam, and the rising housing prices are an obvious indicator of this.
To be completely transparent, this is awesome news for me as I just so happened to purchase my first home in August, 2011. I mean, take a look at Zillow’s estimate of my home value after I made the purchase (that dollar sign is my purchase, and the solid blue line is my house value).
This chart always . . . → Read More: Is The Next Housing Market Crash Coming?
Soon after the housing market went south in 2006, I found myself moving to South Florida. I knew I didn’t have any money then, so I didn’t even think about entering the land of property ownership, but when I got married in 2009 and saw the market at an all-time low, I got house hungry.
We looked at a few townhouses and a couple of condos (houses were still selling for $250,000, so we didn’t even look at those), and I remember nearly putting in an offer on a very nice 2 bedroom, 2 bath townhouse. The only problem: we had two school loans and absolutely no savings. We decided not to throw our money away with the FHA loan and found a reasonable rental instead.
Looking back, I’m actually glad we made that decision. That property has decreased in value by 10% since we looked at it, and according . . . → Read More: The Housing Market in 2011