I did a 5 year ARM when we bought this place, and a year and a half later refinanced to a ten at a lower rate, didn't hit the bottom but did OK. I should have it paid off well before ten years comes around.
My first loan on our house in Cincy was at 12.5%, and I thought that was a deal. I refi'd that as well several times and eventually paid it off with a credit line as rates were dropping very fast and then paid that off. That was a nice feeling, I didn't have any loans for 20 years or so until we bought this condo. A 2 bedroom here is under contract for $860 K, they usually sell for around $500 K. This one was updated quite a bit, but it's on the lowest floor. I'm not sure what's going on with that really.
One bad thing about appreciation is the tax man usually catches up with it. I already get dinged pretty hard on that.
