Estimated price gains would then be much higher, because the housing boom and its consequences have not yet finally winded down. Let’s say that the value of your home has gone up. In the South, houses were sold for 3.7% less than a year earlier, and in the Northeast prices went down 2.5%. Even if you compare stock gains during the unprecedented market boom that ran from 1993 (DJIA at 3,500) to early 2000 (DJIA at 11,700), you'll find home equity multiplying just as fast in many cities throughout the United States. The downside of this is that your mortgage payments will increase; however, you will pay less interest in the long run. Call other businesses that have had a relationship with the client. In 4 metro areas, prices dropped by more than 10%, the Sarasota-Bradenton-Venice market scoring an 18% decline. While the NAR predicts improvements early in 2007, skeptics believe the housing market will take much longer to recover from its current misbalanced state. At the start of 1982, this index of blue-chip companies actually stood lower, at 884.36. Bill Promptly Ever find yourself so busy building your business that you don't get around to billing regularly? You're not alone. Joseph Anthony is a tax professional in Portland, Ore., who writes about finance and tax issues affecting small businesses. An often overlooked cost of buying a new home is private mortgage insurance, usually simply called PMI. Usually, your premiums will be lower each year, since it’s based on the amount that you owe on your mortgage. The downside of this is that your mortgage payments will increase; however, you will pay less interest in the long run. I've received bills from businesses offering discounts of 1% or 2% for payment within 10 days. At a certain point, when new construction and speculation activity created an inventory that was way too high for the market, buyers, not sellers, became the market’s driving force. When your PMI is canceled, you must be informed that: - Your PMI has been canceled, and you no longer have private mortgage insurance - You no longer have to pay premiums for your private mortgage insurance. That’s when The Homeowner’s Protection Act of 1998 (HPA) went into effect. You do have the option to refinance your mortgage so that it is within a shorter period of time. Combs suggested that home prices should be analyzed in the long term, not on year-over-year basis, since properties are usually owned for 5 years or more. Avoid Slow Pay and No Pay Customers From the Start The best way to avoid cash-flow problems because of people not paying is to weed them out before they start owing you money. Do I have to pay for PMI until my mortgage is paid off? No. Trim Your Inventory OK, so you can't go to a "just-in-time" inventory management system like many larger manufacturers. On an after-tax basis, a 10 percent a year return on stocks is considered very good. Elmira, NY, the nation’s cheapest market according to analysts, Durham, Appleton, Las Vegas-Paradise, Denver-Aurora and Detroit-Warren-Livonia metro areas all remained within the 0-1% price decline margin. The downside to this is that your home will be at risk if you default. For example, in the relatively slow growth town of Gainesville, Florida, a home bought in 1993 for $100,000 could have been sold in 2000 for $150,000.