777-Jackpot!!??
September 29th, 2008 categories: Economics, For Buyers, phoenix real estate
Well if I was in Vegas, sitting at a slot machine- I would love to see triple 7’s.
But today, the stock market fell 777 points on the news that the “Bail Out Bill” failed to be approved by the House of Representatives- I was not so happy to see those triple 7’s
So what does this mean for Phoenix home buyers?
As I don’t and never will have a crystal ball- you need to go back and ask yourself the following questions:
- Can you afford to buy a house?
- How safe is your job?
- How long do you plan to live in the house?
- Do you have a “rainy day” fund, in the event you lose your job.
- Can you emotionally deal with the fact that if you purchase a home today, the value may decrease in coming months?
- Is is better for YOU to rent or buy? Would the tax benefits of home ownership benefit you?
As it is said-real estate is local- so do your homework, ask questions and do your homework.
FHA and VA financing is still available for qualified buyers, so yes there are home loans available.
