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When some people are asked to describe a certain economic situation or topic that effects them right now people usually answer with stock market woes or investments woes These two answers are good examples of economic topics that affect everybody who is trying to get ahead in the world I have a particular dilemma to deal with when it comes to making an economic decision which is to sell my house or to keep it Looking at todays housing market you would think that a desicion such as mine is easy to make Well it is not as easy as people think According to Bradley Ball who tracks the mortgage insurance industry at Prudential he says Home prices have been on the rise for decades with annual gains averaging 6 to 7 over the past five years Mortgage originations predictably also have been similarly robust up about 9 to 10 a year since 2000 Therefore I may make a profit unless I get some insider info as to when the market will level out or come down Then I will end up in the same situation as I was before the housing market went up but the only difference is there will be more money involved I had my house appraised about six month ago and I was told that its worth 245000 dollars I purchased it 4 years ago at 122000 dollars resulting in a rate return of about 200 percent I am faced with selling now or kicking myself later because I refused to sell It is not easy though According to data released by the National Association of Realtors NAR on Aug 25 Julys existing-home sales reached an annual rate of 612 million seasonally adjusted up 5 from June and 14 from July 2002 I face tough competition not only from other sellers but from new homes as well New homes are up 21 percent which is a new record
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