I’m working on my October Note (subscribe here) where I’m planning to write about the shifting market, and maybe put together some predictions for the rest of this year, and for 2023. But first, a story about the time I got laid off 20+ years ago.

I unexpectedly got laid off with 20 or so other people; this was my second job, and my last job before I started practicing real estate. My wife and I had recently purchased our first house. One of my first thoughts was, “what am I going to do?” and my next thought was “I should have gotten a home equity line of credit (HELOC) as a just-in-case. Funny thing – lenders required their borrowers to have jobs, so I didn’t bother applying.

Why am I telling you this story? Because now might be a great time to consider a HELOC as a just-in-case life comes at you unexpectedly, and in case home values drop … you’d be valued at today’s value.

I am not a lender; (I know good ones though). This is merely a suggestion to at least have this thought or conversation. Toss it aside? Fine. Get one? Also fine.

Better to be prepared.

How does this benefit me?

Good question.

– If you read this, and are and feel a bit safer, great.

– If you read this, do it, and are better prepared (if it’s the right decision for you) to hold your house, and buy another, and you contact me for representation, also great.

Just a thought.