Tuesday, August 14, 2018 / by Nicole Solari
In a CNBC article, self-made millionaire David Bach explained that: “Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off.”
Bach suggests that homebuyers should, “Take out a 30-year mortgage, but with the intention of paying it off in 25, 20 or ideally, 15 years.”
How does he suggest you do this? Here’s the secret:
“…If you were paying $1,000 a month, now you’re going to make $1,100 payments every month. Inform the bank that you are doing this and that you want the extra $100 a month to be applied to the principal (not the interest).”
What will happen to your mortgage?
Bach explains that, “If you keep this up, you’ll wind up paying off your 30-year mortgage in about 25 years. Increase your monthly payment by 20 percent, and you’ll have that mortgage retired in about 22 year ...
Thursday, August 9, 2018 / by Nicole Solari
Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as:
“The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”
When demand exceeds supply, prices go up. Every month this year, demand (buyer traffic) has increased as compared to last year and for the first five months of 2018, supply (the number of available listings) had decreased as compared to last year. However, a recent report by the National Association of Realtors (NAR) revealed the first year-over-year increase in supply in three years.
Here are the numbers for supply and demand as compared to last year since the beginning of 2018:
The increase in the June numbers doesn&rsqu ...
Tuesday, June 19, 2018 / by Nicole Solari
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers
According to the 2017 Profile of Home Buyers and Sellers from NAR, last year 95% of buyers search online for a home. That is in comparison to only 15% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
Where did buyers find the home they actually purchased?
49% on the internet
31% from a Real Estate Agent
7% from a yard sign
1% from newspapers
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a stron ...
Monday, June 18, 2018 / by Nicole Solari
The loss of a loved one is a defining moment that can change the course of your life. While grieving his or her loss, you may find that moving to a new home is the best way to care for yourself and create a fresh start. Moving is never easy, but when you’re moving following a loss, there are certain considerations to keep in mind.
Moving May Help You Move Forward
The grief process happens in stages, but these stages don’t always happen in a certain order. At some point, it may feel like your world has simply stopped, and you don’t understand how others can keep living normally. One expert at PsychCentral recommends that you approach life now in terms of moving forward, rather than trying to move on. When you do this, you can work through your grief and keep your loved one’s memory alive while creating a new life for yourself.
Sometimes moving to a new home or starting over in a new town makes it easier for you to approach grief in this way. Ig ...