With today’s housing market and low mortgage rates, some baby boomers are pouncing on the opportunity to obtain the retirement home of their dreams. For some, retirement is still years into the future. Opting to use the home as a rental, to balance outgoing expenses, is a smart way to have your cake and eat it too. ”It's an opportunity that's hard to resist: Home prices nationwide are down 32% from their mid-2006 peak, according to the S&P/Case-Shiller home price index. Meanwhile, mortgage rates are at historic lows with the 30-year fixed-rate hovering around 4.2%.” Those whom are fortunate enough to take advantage of the opportunity in this market are strongly urged to do so; the combination of low priced homes and low interest rates does seem like a dream come true.
For more on this article from CNN Money, follow this link: http://money.cnn.com/galleries/2011/real_estate/1109/gallery.retirement_home_deals/index.html?section=money_realestate&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_realestate+%28Real+Estate%29
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