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Uncategorized House-Hacking your way to multi-unit rentals House-hacking refers to buying a multifamily property on an owner-occupied mortgage, living in one unit and renting the others. If you’re thinking about becoming a rental mogul, starting early is an advantage. Not only will you have longer to accumulate a larger portfolio, but you can also increase the leverage on the first owner-occupied acquisitions. […]
Uncategorized Marketing Job – The relationship between homeownership and net worth During the span between 2019 and 2022, the COVID-19 pandemic significantly disrupted both society and economic activities. Nevertheless, the latest Survey of Consumer Finance, which has recently been unveiled, highlights widespread enhancements in the financial well-being of American families during this timeframe, especially concerning their net worth. The median net worth of homeowners increased 37%, […]
Uncategorized Moving Scams: How to Spot Them Moving can be stressful enough without having to worry about being scammed by a moving company. Unfortunately, there are unscrupulous movers out there who prey on people who are in the midst of moving. To protect yourself from being scammed, it’s important to be aware of the red flags. Here are a few things to […]
Uncategorized How homeowners can avoid mortgage relief scams Homeowners who are facing financial difficulty are often targeted by mortgage relief scams. These scams can be very convincing, and homeowners may be desperate for help, making them vulnerable to these schemes. Scammers often pose as government officials or mortgage experts, and they may promise homeowners that they can help them avoid foreclosure or modify […]
Buying and Selling The Danger of Do-It-Yourself Divorce The Danger of Do-It-Yourself Divorce Ken & Barbie have been married 20 years and have owned their current home for over 10 years. Without the benefit of legal or tax advice, they decide to divorce with Ken taking his retirement and Barbie taking the equity in the home which are equal in value. It appears […]
Uncategorized Your Referrals Mean the World to Us Referrals are the lifeblood of any business, and real estate is no exception. When someone you trust refers you to a service provider, you’re more likely to do business with them because you know that they’ve been vetted by someone you know and trust. That’s why we’re so grateful for the referrals we’ve received from […]
Homeownership Protect your belongings with a Home Inventory As a homeowner, you invest time and money into creating a comfortable and secure living space for you and your loved ones. However, unforeseen events such as natural disasters or burglaries can occur, resulting in the loss of your personal belongings. To protect your investment, it’s crucial to create a home inventory of your personal […]
Uncategorized Shopping Mortgage Rates Nobel Prize recipient, Richard Thaler, in his research into seemingly irrational economic behaviors, “found that consumers generally search too little, get confused while evaluating complex alternatives, and are slow to switch from past choices, even if it costs them.” “Why are consumers leaving money on the table?” Based on this behavior, a borrower securing a mortgage […]
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Uncategorized Compare Before Deciding on the Standard Deduction The TCJA of 2019 dramatically increased the standard deduction so that many homeowners benefit from taking that rather than itemizing their deductions.  Taking the standard deduction may result in a larger deduction even if you have no expenses that qualify for claiming itemized deductions. Another thing reinforcing taking the standard deduction was low rates at the […]
Uncategorized Negotiate a Buydown to Get into a Home Now   If you are a prospective homebuyer, things have changed in the past year.  Most notably, mortgage rates have more than doubled which has created an affordability gap that has taken approximately 15 million buyers out of the market. Inventories are growing but it isn’t because more people are deciding to sell their homes; it is […]
Uncategorized Downsizing Options Opportunities exist for a subset of homeowners, possibly in their 60’s to 70’s, who want to downsize to smaller homes for convenience, less maintenance, change of lifestyle, or to save money.  These homeowners are more likely to have large equities and will not feel the same constraints that are keeping younger owners in their homes due […]
Uncategorized When will the market turn? Housing affordability has declined dramatically in 2022 due to continued rising home prices and a three-percentage point jump in mortgage rates.  Based on the popularity of Google searches for “housing bust” or “housing bubble”, it could be surmised that buyers are anticipating relief, but they are probably not going to see it anytime soon. Home price […]
Uncategorized “Do you feel lucky? Well, do ya?”     You may remember the famous line in the Dirty Harry movie when Clint Eastwood has just had a shootout with bank robbers and is standing in front of the lone surviving thief who is considering going for his gun. Harry with his gun pointed at the bad guy says to him “”Did he fire six shots […]
Homeownership Homeowners Need Resources Managing an asset worth hundreds of thousands of dollars is a responsibility that requires attention to details such as timely payment of the mortgage, home repairs and maintenance, upkeep, and oversight on financial issues including taxes, insurance, and other things. Depending on how long you’ve been a homeowner, you may have faced some of the […]
Buying Housing Affordability – Call to ARMs Housing Affordability is negatively affected by both rising home prices and mortgage rates.  A 20% increase in nominal home prices and a 2% increase in the 30-year fixed rate mortgage since January have contributed to a 46 point drop in the NAR Housing Affordability Index. The Index was 143 in June 2021 and is 98.5 in […]
Uncategorized Showing How Earnest You Are The expression “putting your money where your mouth is” demonstrates a monetary sincerity to what could be empty words.  In today’s competitive market where multiple offers are common, sellers want as much assurance as possible that the buyer is sincere and will close on the sale. The seller who accepts a contract expects the buyer to […]
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