http://www.gjc.com Gerald Croteau's Weblog Mon, 19 Apr 2010 21:56:32 +0000 hourly 1 http://www.gjc.com/?p=326&cpage=1#comment-190 Gerald Mon, 19 Apr 2010 21:56:32 +0000 http://www.gjc.com/?p=326#comment-190 The best way to calculate this is to compare the mortgage bill to the cost of renting. Renting is typically a good bit more expensive than a mortgage because a renter has the flexibility to move and doesn't have to sink in money on bills like a roof or other maintenance. Additionally, mortgage rates are at historic lows. If interest rates rise, the monthly payment rises. If a property is financed at a low rate, but sold at a time of higher rates, the home has to be discounted because the new buyers can afford less house (interest rates account for a bigger chunk) and they are still comparing it to the cost of renting. The best way to calculate this is to compare the mortgage bill to the cost of renting. Renting is typically a good bit more expensive than a mortgage because a renter has the flexibility to move and doesn’t have to sink in money on bills like a roof or other maintenance. Additionally, mortgage rates are at historic lows. If interest rates rise, the monthly payment rises. If a property is financed at a low rate, but sold at a time of higher rates, the home has to be discounted because the new buyers can afford less house (interest rates account for a bigger chunk) and they are still comparing it to the cost of renting.

]]> http://www.gjc.com/?p=330&cpage=1#comment-179 Dharmishta Thu, 18 Mar 2010 22:27:45 +0000 http://www.gjc.com/?p=330#comment-179 Great to meet you too! Great to meet you too!

]]> http://www.gjc.com/?p=326&cpage=1#comment-169 Unc. Sat, 13 Mar 2010 02:01:01 +0000 http://www.gjc.com/?p=326#comment-169 Hey Neph. it was great talking to you today. How much do you think my house is worth based on this information?? Hey Neph. it was great talking to you today. How much do you think my house is worth based on this information??

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