Here in Tampa, homes have been appreciating at a very fast rate, however, in a so called "Realty Boom" buyers should really use caution. I personally do not believe there is a "Housing Bubble". What I believe is there is a "lending bubble" All the so called ARM's and interest only loans cover a major percentage of todays refinancing and remortgages of ones home. People are using these rates and refinancing there home as though there house is an ATM machine. Refinancing your home to get get the new boat or take that luxury cruise, Beemer or whatever is not the way to go. The clock always comes back to 12. :shake:
Know when to buy Real Estate and when not to. The market always seem to get the "most" people at the "least" likely time. When interest rates begin to rise, all those ARM's & interest only loans will ride right along, and when that credit becomes debt, values of ALL homes will decline by 30-40%. THAT my friends, will be the time to buy. :nod: