Yearly Archives: 2013

Comments Off on Equity Dynamics

Equity Dynamics

Equity Dynamics

Equity is the difference in what your home is worth and what you owe. Ideally, as the value goes up and the unpaid balance goes down with each amortized payment made, the equity grows from two directions. This dynamic leads to increasing a person’s net worth much faster than many other investments. A homeowner has … Continued

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Gert Regular Check-Ups

Gert Regular Check-Ups

Following his heart surgery last month, after an issue was discovered during his annual physical, President George W. Bush encouraged everyone to get regular check-ups. Another important checkup that should be done on a regular basis that can be beneficial for your finances is an annual homeowner advisory. Why would you treat your investment in … Continued

Comments Off on Where Is It Invested?

Where Is It Invested?

Where Is It Invested?

You’ve saved for a rainy day or retirement. Congratulations but don’t get too comfortable yet; where is it invested? It’s estimated that over 25% of Americans have their long-term savings in cash instead of investments like stocks, bonds or real estate. The memories of the financial crisis of 2008 are recent enough to understand why … Continued

Comments Off on It Can’t Hurt to Wait, Can It?

It Can’t Hurt to Wait, Can It?

It Can’t Hurt to Wait, Can It?

It’s been said that more money has been lost due to indecision than was ever lost because of a bad decision. Regardless of whether you agree with the statement, delaying the decision to buy in today’s market is going to cost the buyer more. Home prices have gone up considerably in almost every market in … Continued

Comments Off on If I’d Known …

If I’d Known …

If I’d Known …

We’ve probably all said or at least thought “if I knew then, what I know now, I would have done things differently.” We should have stayed in school longer. We should have listened to our parents. We should have bought Apple stock in 2002 for $8.50 that sells for $400 today. Or we could have … Continued

Comments Off on Retirement Without a Mortgage

Retirement Without a Mortgage

Retirement Without a Mortgage

Planning for retirement is obviously important and many times, an activity plagued by procrastination. Some people plan to have their home paid for by that magical date so they won’t have payments after they retire. It makes sense to eliminate a large recurring expense before they quit working. One strategy would be to be make … Continued

Comments Off on When Rates Rise

When Rates Rise

When Rates Rise

Rising interest rates are great if you are renewing a certificate of deposit but not so much when you’re borrowing money. With interest rates on the rise as well as home prices, housing affordability is a concern for would-be homeowners. A rough rule of thumb is that a person’s or family’s housing should not exceed … Continued

Comments Off on Assumable Mortgages: Advantages to Buyer & Seller

Assumable Mortgages: Advantages to Buyer & Seller

Assumable Mortgages: Advantages to Buyer & Seller

Here are some of the advantages of assuming an existing mortgage versus applying for a new one: Mortgage is further into amortization schedule Lower interest rate loans amortize faster than higher interest rate loans Lower closing costs than a new mortgage Easier to qualify than on a new mortgage No appraisal required There could also … Continued

Comments Off on Background as an Attorney

Background as an Attorney

Greg’s years of experience in the real estate industry as well as his background as an
attorney were evident in the expert advice that was provided to us at every step of
the process. Equally as important, I was impressed with Greg’s commitment to do
what is right for his clients, and the personal interest he demonstrates in addressing
specific concerns that his clients may have.

Comments Off on Mortgage Interest Rates: Where Are They Headed?

Mortgage Interest Rates: Where Are They Headed?

Mortgage Interest Rates: Where Are They Headed?

Today’s $20,000 question is…Where are mortgage rates headed in the near future? Most believe the rapid rise in rates experienced over the last month will not be sustained and that they will level off into a range between 4% and 5%. When recently asked, Zillow’s director of Mortgage Marketplace, Erin Lantz suggested: “It is impossible … Continued