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Home Prices: Now for the Good News

(Smart Money Magazine - November 2008)

When the headlines about the housing market are apocalyptic, the last thing a homeowner wants to do is sell. But a funny thing happened to Jeff and Jennifer Boyd when they put their three-bedroom house in Philadelphia’s Graduate Hospital district on the market this summer: They turned a profit. Just 45 days after the listing went up, a buyer snapped up the property for $555,000—$29,000 more than the Boyds paid in 2006. “We were pretty hesitant, knowing what the market is like,” says Jeff. “But a few weeks later, it was gone.”

Here’s a surefire way to start an argument: Suggest that the housing market has reached bottom. (read more here)

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Our builder showed us how we could get into the school system we wanted and a home that’s flexible enough to accommodate our growing family. We’ll be closer to work, and we’ll also save energy on our utility bills. It’s a win – win for everyone. The kids can’t wait to explore the new neighborhood and we can’t wait to settle in. To think, we almost stayed away from building a new home because we were worried about the mortgage crunch. When we discovered that 99% of homes are not in foreclosure; that made us feel secure in our investment too.