House Prices. Sustain in first Quarter 2008?

We all know that there were record house price increases especially in California from 2001 until now in 2008 we finally may dip a little bit as we did in the mid 90’s. Even then, we will not see levels of a decade ago, our house prices have shot up almost 55% since 1998 (average home values). So where does this leave us today if we want to cash in on the value of our homes? Straight into the horses mouth: we are on the edge of seeing substantial gains in the last 50 years equalizing again.

Looking back at the decade between 1980 and 1990: Over that period,  we had a relatively good economy with a housing slump in the 90’s and only a 4% gain was seen in average home prices with price drops seen for several years. Remember when we bought homes for under 25,000 in 1968? We see that the value of our homes has gone up by 19 times that amount since. What this says to me is that… going into a bear economy with full gail force in 2008 means we are at the tipping point and it looks like our 41 year projection, is a cooling effect. Now, inflation has been on the down turn for 15 years. If this increases like it did after Katrina in 2006 we might need to recalculate our current spending for our retirement.

What can one do in this economy to protect their worth? One may not want to infuse a lot of money in the stock market unless they know some good information about whats going to stick around or become the next wave, but it has been said that buying low is the key to success. Other investors go in for the long haul protecting their investments versus inflation and sometimes gaining on those figures with their own interest bearing accounts. The best way to secure yourself if you are 62 or older is to make sure you weather the storm so to speak in the next decade by sheltering your net assets. There are many traditional ways one can do this.

But not all of us have thought traditionally when it comes to our retirement, and in order to make it we have to find alternate forms of income or live by our bootstraps. But there is no need for this right now in California. Those of us with debt in our houses and who live on fixed income can still turn their houses around to make life sweeter all the way through the next decade. Ima talking once again about reverse mortgages and the important thing to know is that you still have the option to cash in on our home and take all or some of the proceeds to protect like the tigers do.

So why not wait it out? It appears we have increases in all 10 year spans and some significant drops. So it looks like the banks are covered on their investments. I know we can never tell exactly which way the proverbial wind blows in times like these so sometimes its better t get a sense and others its time to act. Ask yourself about what the market has done and imagine not having to sell your house on the market for months, or living but always paying out of your pocket for your home, Imagine even if you have your house paid off, you have money that can become available at any time with the California Senior Lenders.

If you have questions, send them to info@seniorlendersreversemortgage.com