Florida Homes and Condos for Sale: From the "Little House" to the "Outhouse" by way of the "Big House"

From the "Little House" to the "Outhouse" by way of the "Big House"

This morning I read a post by Brandi Wells about equity I want a house with equity!... It got me to thinking of this post I had written on another blog about how some lost real money over the past several years by spending the real equity in their older, little houses.

The big house is not incarceration in the literal sense. But rather it is the bigger house some folks purchased several years ago when they tried to beat the big run up in home prices here in Brevard County, Florida.

Amazingly many people sold the old homestead to buy a bigger house.

This is not an attempt to affix blame on anyone.

The prices were escalating at such a rapid pace. The feeling was you had to jump in while you could still afford that “big house.” Thus, many cashed out for a nice profit.

Then they invested that nice profit.

And now, after the past few years, the mortgage is equal to what they owe.

At least they are not upside down.

But the lost real money (not imaginery paper equity), has vanished....like toilet paper in the outhouse!

Buying a house is a big decision. If you are a first time home buyer there are opportunities in this market. But have a plan before proceeding.

If you are a first time buyer in Brevard County Florida and have questions, I am available to answer your questions.

This article was originally posted on my blog Florida Homes for Sale.

 

 

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

www.moving2brevard.com

 

 

 

 

Read my blogs Florida Homes for Sale,  Moving to Brevard County, Florida, and  Brevard County Florida Real Estate Information.

 

4 comments • Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL • November 22 2009 07:39AM

Comments

Gary...

Equity is indeed a fickle thing, here today, gone tomorrow!

Posted by Richard Weisser Coweta Fayette Real Estate over 2 years ago

Richard - Fickle definitely describes equity very well. Thanks.

Posted by Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL (Century 21 Baytree Realty, 1211 Admiralty Blvd, Rockledge) over 2 years ago

Gary, loved this post. Great analogy of flushing paper down the toilet for sure. Many thought that their equity was to spend.....so sad. ;-)

Posted by Teri Ellis at Homes Arizona Real Estate LLC over 2 years ago

Teri - Thanks. Yes, it is sad how many have lost so much real money in this debacle.

Posted by Gary L Waters PLLC- Broker Associate Realtor® Melbourne Viera Rockledge FL (Century 21 Baytree Realty, 1211 Admiralty Blvd, Rockledge) over 2 years ago

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