Taking Advantage of Rising Home Value

If you live in an area like where I live, in the Greater Phoenix Valley, home prices seem to keep increasing. A local realtor who specializes in my area made the comment that home prices in my area are rising at $5000 a MONTH. Wow!

So, how do I take advantage of this increase? One thing is to re-finance so you can get rid of PMI – if you currently owe more than 80% against your home. This can pay off instantly. Another idea is to pay off those high interest credit card debt. But be careful, I am one of those who is cautious when it comes to turning a 5 year debt into a 30 year debt just for a lower interest rate. It helps when it comes to short term cash flow, but may not be the best long term. I mean if you stick it out now then in due time you’ll reap the benefits.

These are just a few things I can think of when it comes to taking advantage of rising home value. You probably have more, I’d love to hear from you and see what is on your mind.

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