Anne Toombs

I think it depends on what part of the country you are in and what the economic conditions are there. Also, it depends on how long you have owned your house, how much equity (if any) you have taken out through refinancing and how long you intend to stay in the next one.

If you have been in your home for over 5 years & have reasonable equity, it might be a good time for you because you can take your investment earnings and re-invest into your next property. However if you bought at the top of the market or you have refinanced and taken the equity to buy non-appreciating items, you may need to spend more time in the property and ride the next wave up to gain equity for your next purchase.

Here in Utah, we have great economic numbers as far as unemployment, increasing jobs and because of the demographics and high internal population growth (that spells baby boom), our economy should continue to grow for the next several years. Our property values are not experiencing the same down turn as in other parts of the country with the exception of our resort areas. Along the Wasatch Front where the working people live, our property values have not doubled or tripled. They have just purred along with a healthy appreciation.

If you made a good decision when you bought your present property, maintained it inside and out and did not take the equity out, you should be in good shape. Interest rates are low, there is such a huge inventory to choose from and not many qualified buyers for you to compete with. Take your earnings and multiply them thru investment over the next 5 to 10 years! - Thu May 8 2008, 12:20