It?s no wonder that home buyers sit on the fence and wonder when the right time to buy will arrive? Since the the mass confusion in the markets continues and the various media outlets can?t seem to come together on what?s really up anymore.
Here’s a perfect example of Florida Real Estate as compared to other states :
In this weekends local St. Pete Times Finance section, I read an article that discussed the facts, that some home owners were finding out that the falling values of their homes were effecting previously issued home equity lines of credit. This column-article by Helen Huntly lists several local citizens as point of reference.
What?s interesting in this story, is that one of the individuals used as a source doesn’t come clean and tell the Times that their are umm issues with that owned property, that would make anyone understand why the bank said NO.
St. Pete times should vet comments or sources a little bit more prior to printing articles using outside sources.
Ok even so ?..this seems plausible given the current economic climate we are in. But then today I read an online article on the Wall Street Journal touting how a Home Equity line of Credit could be your safety net ?
The last line in that article is kind of interesting to say the least ?And you won’t be penalized if you never tap your home-equity credit line.?
So what?s your experience, is this happening as much as the Times says it is here in the Greater Tampa Bay?
What about the WSJ article?good idea or bad ?