Refinanced two weeks ago @ 4.25% (APR is about 4.55).

Was also surprised to find my house still 25k higher in value than when I bought it in Feb 06.

That's b/c you don't live in CA, FL or AZ...

did good pats


15 or 30 year fixed?

its weird pats, some areas you get 03 values, others 07. same country, even same town at times

I had been watching local medians and theyd risen for a year and a half after I bought then started leveling off and falling. But a lot of it is due to the huge expansions on the west side of the city.

I took my daughter to a playground around the corner from the house today, and overheard a soccer mom telling another one about how much they love this city and how it's so much more affordable on the west side, then they just drive over here for everything. So after they fill their tanks 4 or 5 times a month, they are paying the same as me. Doesnt make much sense. Gas /= investment.

thats the thing about gas, at times its so cheap no one cares, tehn it spikes and kills almost everyone

It's also time consuming. Before I bought, I lived 9 miles from work, rode my bike most times but when I did drive, I wanted to kill people. Now Im 4 mins away by bike, man, so much less stress. I have a low tolerance for morons.

What do you mean about the 03/07 values? There's a house a street over almost identical to mine, with a few more small upgrades, just sold for 10k more than mine appraised for.

i should of said 06 values

house vaulues are generally down to the values they were in 05/06, the harder hit areas are down to what they were in 03ish.


alot of the foreclosures now are attributed to having negative equity and people are just walking away because they dont want to pay for something they owe more on than its worth

Which makes no sense. If I buy stock at $1 a share and a week later it's 98 cents, would these same morons declare bankruptcy? It's value, it goes up and down. Sometimes with stock you cut your losses, but a house you live in and have a 30 year mortgage... or more.

its the now society we live in (mind you not all or most of foreclosures are for this reason now, but a distrubing high single percentage)

people can walk away from a house, pay hundreds less a month for rent, but the same house a few years later for thousands less.....


its not right, and i believe if someone is doing such, they should be forced to pay the lost equity on it

IMO

Also depends on income.

I'm in an area where values are closer to 03 levels...doesn't help me since I bought at the top in 05. If income dips, which ours has, you have to start weighing the question differently.

Having said that, unless you just can't do it, it's foolish to walk away from your home.