Purchase price: $67,000 Cash invested: $32,000 Sale price: $127,500 Historic townhouse in Greenhills, OH. 2 bed/1bath.

Purchase price: $67,000 Cash invested: $32,000 Sale price: $127,500 Historic townhouse in Greenhills, OH. 2 bed/1bath.

Demand is too high, far too much of the property value was already being bought cash prior to low interest rates, and it is a historic capitol city after all. 

The home I’m interested is in the historic district of Ypsilanti, Michigan.

In some RF-1 zones they may be historic and you will need to have HPRB (Historic Preservation Review Board) or BZA (Board of Zoning Adjustments) review the plans. 

When historically low mortgage rates met a summer wave of homebuying, renovations, and DIY-ing, producers were unprepared for the demand surge.Lumber prices kept rising during the winter months, so homebuilders and lumber yards delayed their purchases, hoping prices would come down.

Given historical data our market tends to overshoot the highs and go lower than the national average during economic downturns. 

Look at a historical chart of interest rates, what has happened for the last 13 years with respect to interest rate is unprecedented in US history.In the early 1980s, interest rates were double digits!

Paying down the debt would be a 13.9% return which is historically higher than the average return of the stock market.Another option could be to try and refinance the debt to a lower interest rate and then you wouldn't have to focus on paying it down. 

Ensure the interest you're paying is still relatively competitive, as rates for traditional loans are at historic lows.