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Wednesday, November 18, 2009

From the “little house” to the "outhouse" via the "big house"

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 bigger.

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 paper equity), has 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.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida, 321-693-3850 or email

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