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    Thanks! Your crew was great. Bruce was especially thorough, skillful and polite. A great job by all and the best paint job we've ever had. See you in the fall!

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  • The 5 Worst Money Mistakes You Could Make Now

    [caption id="attachment_3264" align="alignleft" width="283" caption="Don't Sell Your Home"]For Sale[/caption]

     

    The credit crisis is still taking a toll today. With people not sure where to invest their money, or wary about selling their home, this financial fiasco has people second-guessing every "big" money investment they have. Ryan C. Fuhrmann of Forbes discusses more in his article:

    The credit crisis that occurred roughly between 2007 and 2009 caused a high amount of global financial market turmoil. Recently, fears that the global economy may head back into recession have surfaced and have started to reinforce a number of investment themes that have been in play over the past few years. Generally, this has consisted of uneven stock market returns, low interest rates and rising popularity for a select handful of assets. At some point, these themes could reverse course, which would make the below moves quite bad for your financial health. (For more, read A Wish List For The Best Budgeting App)

    Sell Stocks
    The stock market has been particularly volatile so far in 2011. The year got off to a good start and by May, major stock market indexes, such as the Dow Jones Industrial Average and S&P 500, reported total returns between 5% and 10%. But starting in August, gains for the year evaporated and these indexes are down between 5% and 10%.

    The daily volatility has been just as bad, with market swings of several percentage points a normal occurrence right now. The volatility stokes fears that the global economy may be stalling from a recovery that has been taking place since the height of the credit crisis in early 2009. But selling when the market is pessimistic over the short term is usually a bad move. Stocks require an investment time horizon of at least five years, which is needed to ride out rough market stretches. It is also well documented that market timing doesn’t work, so there is no use in trying to outsmart where the stock market may be in any given quarter, or year.

    Sell Your Home
    The credit crisis stemmed from what has arguably been the most severe housing bubble in history. Housing losses have been so bad in many markets, that an entire generation is becoming disenfranchised with owning a home. Paradoxically, many individuals felt the most comfortable buying homes when credit was easy and houses had experienced roughly a decade of double-digit annual appreciation.

    That virtuous cycle has quickly turned into a vicious one. Many banks are requiring prohibitive down payments of 20% or more in the worst hit markets that include Las Vegas, Phoenix and parts of Florida. Home buying sentiment remains depressed, even though interest rates have hit rock bottom levels, as have home prices. Just recently, the interest rate for 30-year mortgages hit its lowest level on record of about 4.15%. Given the depressed environment, selling now looks unwise as housing prices look extremely affordable and will likely appreciate in value in the coming decade.

    Read more at Forbes

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