|
Click to set custom HTML
0 Comments
 With the recent news of a China Ballon floating in the US is it time for the Tik Tok to be banned from use in the USA? As a tik tok user myself I have found the App quite hypnotizing. Yes hypnotizing! Let's think about this. If our enemy can infiltrate from right inside of our homes by influencing us to spend countless hours on an app is this not a problem?
I was recently a victim of being scammed via the app. Yes scammed. I spent countless hours requesting my account back from Tik tok to only get it back for a couple of days and have it taken again from me. I know I am not the only one this has happened to. When you lose access to say your email or even your bank account you can usually get it back within a couple hours. How is it an App is allowed to keep peoples personal information hostage in such a manner for months maybe even years? There is a huge data breach that is being allowed right now. The app is amazing yes, but we really have to dig deep and know the reality of it. Is it safe for the American people to be hypnotized in such a manner? If The US Government decides to Ban Tik Tok I would not be surprised. They know too much about us and it is not good. All I am saying a little taste of their own medicine may be good. What are your thoughts on this situation?  Your Guide to the Home Appraisal You’ve found your dream home and now it’s time to cross all your T's and dot all your I's before it’s all your own. And one of the first items on your closing checklist the home appraisal. So, what exactly is that? The home appraisal is essentially a value assessment of the home and property. It is conducted by a certified third party and is used to determine whether the home is priced appropriately. During a home appraisal, the appraiser conducts a complete visual inspection of the interior and exterior of the home. He or she factors in a variety of things, including the home’s floor plan functionality, condition, location, school district, fixtures, lot size, and more. An upward adjustment is generally made if the home has a deck, a view, or a large yard. The appraiser will also compare the home to several similar homes that were sold within the last six months in the area. The final report must include a street map showing the property and the ones’ compared, photographs of the interior and exterior, an explanation on how the square footage was calculated, market sales data, public land records, and more. After it is complete, the lender uses the information found to ensure that the property is worth the amount they are investing. This is a safe-guard for the lender as the home acts as collateral for the mortgage. If the buyer defaults on the mortgage and goes into foreclosure, the lender generally sells the home to recover the money borrowed.  What will you do with the extra time?
When you're turning your clocks back an hour, why not take a couple of extra steps to keep your family and home safe? Changing the batteries in your smoke detectors and testing your carbon monoxide detectors will take only a few moments of the extra hour you're "getting back" this weekend. Hope you're enjoying the fall season!  Ever wish you could become one of those rare morning people? The ones that wake with a start, feeling refreshed and energized. The ones that get in that morning workout or wrap up some work before many of us even hit the snooze button for the first time. Here are five tips to help you achieve that early bird status!
 Downsizing: Overcoming the Emotions10 MIN READ | SEP 24, 2021 By Ramsey Solutions If you never thought you were sentimental about your home, try putting it up for sale. Suddenly every nook and cranny is the spot of some special event or sweet memory. But don’t let emotions keep you from downsizing your home. Downsizing could bring great benefits to you, your family, and your finances. But to cash in on those benefits, you’ll first have to overcome your emotions. Emotional Reasons That Prevent DownsizingThe decision to downsize your home can be difficult to make—and following through can be even tougher, even when you know it’s the best move to make. To save yourself from staying stuck in a home that’s not right for you, try to understand why you feel emotional about selling your home. Here are some common reasons why homeowners can feel emotional stress about downsizing:
Find expert agents to help you sell your home. Are you an "empty nester" who still lives in that big house where you raised your now-grown kids? Imagine how much time and money you could free up if you downsized! Instead of managing the upkeep of the house and lawn, you could spend more time and money on vacations and date nights! And you could have plenty of cash leftover to invest more for your dream retirement. What Does Downsizing Your Home Actually Look Like?Let’s see what the impact of downsizing could look like. Pretend you and your spouse own a four-bedroom home you bought 10 years ago when your two kids were young. At 3,000 square feet, you’ve got plenty of room for your family and friends to hang out. Unfortunately, everything else in your life feels cramped. Even though you and your spouse work hard to provide for the family, you never seem to have the money to do fun things outside of the house. With a $60,000 household income, your $1,375 mortgage payment takes up nearly a third of your paycheck each month. You have enough to cover the bills each month, but that’s it. You’re making slow progress on your car loan—the last remaining bill in your debt snowball. Once it’s paid off, you’re looking at an additional two years to build your emergency fund before you’re ready to invest for retirement. You’ll turn 43 this year too, so you don’t want to delay saving for retirement much longer. Also, it won’t be long before your two kids—ages 12 and 14—leave the nest. You and your spouse want to make the most of the time you have left together under the same roof, so you decide it’s time to trade all your space for the life you really want. From Barely Paying Bills to Baby Step 4After you declutter your home, you work with a real estate agent to get it sold. After a month on the market, you accept an offer for $300,000. With just $165,000 left on your mortgage, you bank $135,000 off the sale. Here's what you do with $135,000 Monthly SavingsCover agent commission and other seller costs on your current home$18,000 Pay off your car loan$6,500$560 Stockpile your emergency fund$12,000 Put a down payment on a $185,000 home with a 15-year fixed rate mortgage at 4%$91,000$440 Cover buyer closing costs on your new home$5,500 Fund a family vacation$2,000 Total:$135,000$1,000 That chunk of cash catapults you forward to Baby Step 4, eliminating debt and setting you up with a solid emergency fund. To celebrate this major money milestone, you use some of the proceeds from your home sale to go on a much-needed family vacation. You also have plenty of cash left to put a sizeable down payment on a smaller home and cover any closing costs. Living Larger in Less SpaceNow that your home is sold, it’s time to find a new place to live! Your agent helps you land a great deal on a three-bedroom home with 1,700 square feet for $185,000. You put $91,000 down on a 15-year mortgage at 4%, which—if you use our mortgage calculator—brings your monthly payment to just $935! With your debt snowball complete and a lower mortgage payment, that gives you a total savings of $1,000 a month. That kind of extra cash makes saving 15% of your income for retirement much easier. If you contribute $750 a month toward retirement for the next 22 years, you could retire with over $700,000 in your nest egg. Even better, a 15-year mortgage means you can look toward retirement with more confidence knowing your home will be paid off before you even turn 60. If you really want to get intense, check out the mortgage payment calculator to see how much money you can save by paying off your house early. Tips for Successful DownsizingDownsize Your "Stuff" Before Your HomeNow that we’ve walked through an example, let’s apply these steps to your own situation. Think about which downsizing benefit speaks to you most. Keep that at the forefront of your mind during this process. You can overcome the emotions that are holding you back. But you might need a strategy to help. So, let’s get tactical. First, don’t think about the house. Start with the little things that make up your house—like old baby clothes and blankets, the bikes your kids learned to ride on, the squeaky wooden bunkbed, and the dusty grand piano. These items tend to build the majority of our emotional resistance to downsize in home. Give yourself enough time to sort through items that are precious to you. Then, when it comes time to sell the house, you won’t feel stressed or rushed. Instead, you’ll feel confident the items that represent “home” to you were cared for properly. Sort your belongings into four main categories:
Look for someone who puts service before sales—but who also knows how to get things done when it’s time to sell. Our real estate endorsed local providers (ELPs) know how to stage your home’s best features and estimate fair market price, and they have the skill to negotiate a fast home sale for the best price. Want the best of the best in your area? We can connect you to a real estate agent we recommend  The Need for Change Owning a home is the primary way Americans build generational wealth, but historically, minority groups and people of color have been excluded from the wealth-building power of homeownership. This is evidenced by the severe homeownership gap that exists to this day. Today, the average homeownership rate in the U.S. is 65%.2 Among white households, that figure climbs to 74%, which is significantly higher than all other racial and ethnic groups. The Black homeownership rate is the lowest at 45%, followed by Hispanic homeowners at 49%. Asian Americans also lag behind the national average, with a homeownership rate of 59%. Homeownership Rate3 By Race (2010-2020) But the gaps extend beyond race and ethnicity. Among the LGBTQ+ community, the homeownership rate sits at 49%.4 And while homeownership among women has risen to 61%, women still lag their male counterparts, who have a homeownership rate of 67%.5 Barriers and Opportunities What’s Driving Homeownership Disparities? The reasons for these homeownership inequalities are multifold. A history of housing discrimination, unfair business practices, and a lack of affordable housing are just some of the issues we still face today. For marginalized groups, this has resulted in a wealth gap that has persisted for generations. For example, when parents own a home, their children are more likely to become homeowners, and the reverse is also true — children who grow up in a family without a history of homeownership are less likely to buy homes themselves. That’s why many minorities and people of color are likely to be first-generation homebuyers. Expanding down payment assistance is one way we can break the cycle and help more first-generation buyers achieve homeownership. But what else can we do? Be the Change A collective effort is needed throughout the housing industry to break down barriers and promote a future of homeownership equity and opportunity. While systemic change is needed, real change starts with each of us. Home builders, real estate agents, mortgage lenders, and other industry professionals have the power to make a lasting difference. Start by reflecting on the perceptions and practices that drive inequity in your part of the business. What are you doing to combat them? Also, consider your presence and involvement with minority groups. How can you improve? Can you make a concerted effort to meet and connect with leaders and members of Black, Hispanic, Asian, LGBTQ+, and other underserved communities? Most importantly, commit to taking action. Here are some areas of focus to consider: Focus on building entry-level homes in underserved areas.Advocate for policy initiatives that support zoning reform, down payment assistance programs, and affordable housing.Create an outreach program to educate young people about the homebuying process, with an emphasis on financial and credit education for low-income borrowers.Build culturally, racially, and ethnically diverse teams that represent the communities you wish to serve.Be a champion of fair housing practices and build trusting relationships with those who have experienced or fear experiencing housing discrimination. The homebuyers of tomorrow are increasingly diverse, and now is the time to tap into this underserved market. Expanding access to homeownership not only creates opportunities for those who need it most, it also provides an opportunity for your business to grow. Mortgage education plays a key role in empowering and preparing buyers for homeownership. I’m here to support your customers in understanding the financing options available to them. Sources: [1] Urban Institute, The Future of Headship and Homeownership, January 2021. [2] U.S. Census Bureau, Quarterly Residential Vacancies and Homeownership, Q1 2022. [3] National Association of Realtors® (NAR), “Racial Disparities in Homeownership Rates,” March 3, 2022. [4] Freddie Mac, “Breaking Barriers: Closing the LGBTQ+ Homeownership Gap,” August 12, 2020. [5] Urban Institute, “More Women Have Become Homeowners and Heads of Household…,” March 16, 2021. [6] Urban Institute, “Reducing the Racial Homeownership Gap.” [7] The Black Homeownership Collaborative. [8] Freddie Mac, “Who Are the Future Borrowers? A Deep dive into their Barriers and Opportunities,” October 25, 2021. [9] National Association of Hispanic Real Estate Professionals (NAHREP), 2021 State of Hispanic Homeownership Report. [10] Asian Real Estate Association of America, 2021 State of Asia America Report. [11] NAR, 2021 Profile of Home Buyers and Sellers. [12] Freddie Mac, “Survey of Single Women Finds Low Confidence in Homeownership Prospects,” October 13, 2021. The Need for Change Owning a home is the primary way Americans build generational wealth, but historically, minority groups and people of color have been excluded from the wealth-building power of homeownership. This is evidenced by the severe homeownership gap that exists to this day. Today, the average homeownership rate in the U.S. is 65%.2 Among white households, that figure climbs to 74%, which is significantly higher than all other racial and ethnic groups. The Black homeownership rate is the lowest at 45%, followed by Hispanic homeowners at 49%. Asian Americans also lag behind the national average, with a homeownership rate of 59%. Homeownership Rate3 By Race (2010-2020) But the gaps extend beyond race and ethnicity. Among the LGBTQ+ community, the homeownership rate sits at 49%.4 And while homeownership among women has risen to 61%, women still lag their male counterparts, who have a homeownership rate of 67%.5 Barriers and Opportunities What’s Driving Homeownership Disparities? The reasons for these homeownership inequalities are multifold. A history of housing discrimination, unfair business practices, and a lack of affordable housing are just some of the issues we still face today. For marginalized groups, this has resulted in a wealth gap that has persisted for generations. For example, when parents own a home, their children are more likely to become homeowners, and the reverse is also true — children who grow up in a family without a history of homeownership are less likely to buy homes themselves. That’s why many minorities and people of color are likely to be first-generation homebuyers. Expanding down payment assistance is one way we can break the cycle and help more first-generation buyers achieve homeownership. But what else can we do? Be the Change A collective effort is needed throughout the housing industry to break down barriers and promote a future of homeownership equity and opportunity. While systemic change is needed, real change starts with each of us. Home builders, real estate agents, mortgage lenders, and other industry professionals have the power to make a lasting difference. Start by reflecting on the perceptions and practices that drive inequity in your part of the business. What are you doing to combat them? Also, consider your presence and involvement with minority groups. How can you improve? Can you make a concerted effort to meet and connect with leaders and members of Black, Hispanic, Asian, LGBTQ+, and other underserved communities? Most importantly, commit to taking action. Here are some areas of focus to consider: Focus on building entry-level homes in underserved areas.Advocate for policy initiatives that support zoning reform, down payment assistance programs, and affordable housing.Create an outreach program to educate young people about the homebuying process, with an emphasis on financial and credit education for low-income borrowers.Build culturally, racially, and ethnically diverse teams that represent the communities you wish to serve.Be a champion of fair housing practices and build trusting relationships with those who have experienced or fear experiencing housing discrimination. The homebuyers of tomorrow are increasingly diverse, and now is the time to tap into this underserved market. Expanding access to homeownership not only creates opportunities for those who need it most, it also provides an opportunity for your business to grow. Mortgage education plays a key role in empowering and preparing buyers for homeownership. I’m here to support your customers in understanding the financing options available to them. Sources: [1] Urban Institute, The Future of Headship and Homeownership, January 2021. [2] U.S. Census Bureau, Quarterly Residential Vacancies and Homeownership, Q1 2022. [3] National Association of Realtors® (NAR), “Racial Disparities in Homeownership Rates,” March 3, 2022. [4] Freddie Mac, “Breaking Barriers: Closing the LGBTQ+ Homeownership Gap,” August 12, 2020. [5] Urban Institute, “More Women Have Become Homeowners and Heads of Household…,” March 16, 2021. [6] Urban Institute, “Reducing the Racial Homeownership Gap.” [7] The Black Homeownership Collaborative. [8] Freddie Mac, “Who Are the Future Borrowers? A Deep dive into their Barriers and Opportunities,” October 25, 2021. [9] National Association of Hispanic Real Estate Professionals (NAHREP), 2021 State of Hispanic Homeownership Report. [10] Asian Real Estate Association of America, 2021 State of Asia America Report. [11] NAR, 2021 Profile of Home Buyers and Sellers. [12] Freddie Mac, “Survey of Single Women Finds Low Confidence in Homeownership Prospects,” October 13, 2021. The Need for Change Owning a home is the primary way Americans build generational wealth, but historically, minority groups and people of color have been excluded from the wealth-building power of homeownership. This is evidenced by the severe homeownership gap that exists to this day. Today, the average homeownership rate in the U.S. is 65%.2 Among white households, that figure climbs to 74%, which is significantly higher than all other racial and ethnic groups. The Black homeownership rate is the lowest at 45%, followed by Hispanic homeowners at 49%. Asian Americans also lag behind the national average, with a homeownership rate of 59%. Homeownership Rate3 By Race (2010-2020) But the gaps extend beyond race and ethnicity. Among the LGBTQ+ community, the homeownership rate sits at 49%.4 And while homeownership among women has risen to 61%, women still lag their male counterparts, who have a homeownership rate of 67%.5 Barriers and Opportunities What’s Driving Homeownership Disparities? The reasons for these homeownership inequalities are multifold. A history of housing discrimination, unfair business practices, and a lack of affordable housing are just some of the issues we still face today. For marginalized groups, this has resulted in a wealth gap that has persisted for generations. For example, when parents own a home, their children are more likely to become homeowners, and the reverse is also true — children who grow up in a family without a history of homeownership are less likely to buy homes themselves. That’s why many minorities and people of color are likely to be first-generation homebuyers. Expanding down payment assistance is one way we can break the cycle and help more first-generation buyers achieve homeownership. But what else can we do? Be the Change A collective effort is needed throughout the housing industry to break down barriers and promote a future of homeownership equity and opportunity. While systemic change is needed, real change starts with each of us. Home builders, real estate agents, mortgage lenders, and other industry professionals have the power to make a lasting difference. Start by reflecting on the perceptions and practices that drive inequity in your part of the business. What are you doing to combat them? Also, consider your presence and involvement with minority groups. How can you improve? Can you make a concerted effort to meet and connect with leaders and members of Black, Hispanic, Asian, LGBTQ+, and other underserved communities? Most importantly, commit to taking action. Here are some areas of focus to consider: Focus on building entry-level homes in underserved areas.Advocate for policy initiatives that support zoning reform, down payment assistance programs, and affordable housing.Create an outreach program to educate young people about the homebuying process, with an emphasis on financial and credit education for low-income borrowers.Build culturally, racially, and ethnically diverse teams that represent the communities you wish to serve.Be a champion of fair housing practices and build trusting relationships with those who have experienced or fear experiencing housing discrimination. The homebuyers of tomorrow are increasingly diverse, and now is the time to tap into this underserved market. Expanding access to homeownership not only creates opportunities for those who need it most, it also provides an opportunity for your business to grow. Mortgage education plays a key role in empowering and preparing buyers for homeownership. I’m here to support your customers in understanding the financing options available to them. Sources: [1] Urban Institute, The Future of Headship and Homeownership, January 2021. [2] U.S. Census Bureau, Quarterly Residential Vacancies and Homeownership, Q1 2022. [3] National Association of Realtors® (NAR), “Racial Disparities in Homeownership Rates,” March 3, 2022. [4] Freddie Mac, “Breaking Barriers: Closing the LGBTQ+ Homeownership Gap,” August 12, 2020. [5] Urban Institute, “More Women Have Become Homeowners and Heads of Household…,” March 16, 2021. [6] Urban Institute, “Reducing the Racial Homeownership Gap.” [7] The Black Homeownership Collaborative. [8] Freddie Mac, “Who Are the Future Borrowers? A Deep dive into their Barriers and Opportunities,” October 25, 2021. [9] National Association of Hispanic Real Estate Professionals (NAHREP), 2021 State of Hispanic Homeownership Report. [10] Asian Real Estate Association of America, 2021 State of Asia America Report. [11] NAR, 2021 Profile of Home Buyers and Sellers. [12] Freddie Mac, “Survey of Single Women Finds Low Confidence in Homeownership Prospects,” October 13, 2021. Source M2 Lending  The New Rules of What It’ll Truly Take To Save Up for a House TodayBy Janet Siroto
May 2, 2022 EnvelopeFacebookTwitterLinkedinPinterestIf you’re saving for a down payment for a home—particularly your first—you probably know this is one tricky real estate moment. With inflation sending prices spiraling, mortgage interest rates ticking up, and biddings wars on homes more the norm than the exception, it’s clear that homebuyers will need to save every cent in order to compete in this crazy market. This means you’ll need to bring your A-game to saving up for a house. Yet if amassing a down payment seems all but hopeless, we’re here to help. Here’s how to turbocharge your house fund so it’s ready for your house hunt. Related articleKnow your numberBudgeting is easier when you know exactly what your goal is. Do you need $50,000? $60,000? Much more? Figure it out so you can get real about saving. “I would recommend that prospective homebuyers ‘back into’ the math,” says Jason J. Krueger, a certified financial planner and financial adviser with Ameriprise Financial Services in Madison, WI. “Start with how much house you want to buy and what type of loan—for example, conventional mortgage, FHA, VA,—which dictates the required down payment. The next thing is to determine when you want to buy. This then allows someone to aim for a specific target.” So let’s say that a year from now, you hope to buy a $300,000 house with a 5% down payment, which amounts to $15,000. Divide $15,000 by 12, and you’ll see that it would take saving $1,250 a month to reach that goal. As you look at your cash flow—how much income is coming in versus how much is going out—you can assess how realistic that amount is, and adjust as needed. Let tech track your cashLet’s be real about what’s happened during the COVID-19 pandemic. Did you wind up subscribing to every pay-per-view platform out there? We get it. Did you start ordering takeout (like, a lot) because you were sick of cooking? Understood. But if you’re in savings mode, it’s time to recalibrate and get rid of some recurring and random charges. Money is a funny thing; it seems to flow like water—often down the drain. To help you get a grasp on why your dinero is disappearing, consider downloading a cash-tracking app. Mint is one well-reviewed example. It’s a free app that syncs an array of accounts (checking, savings, credit cards, and more) and can categorize your spending into buckets. You can set spending caps for each of them, and as you approach the limit, Mint lets you know. It’s a seamless way to stay on target with savings. You might also be interested in “zero-based budgeting system” apps like YNAB, or You Need A Budget. These help you plan where every dollar you earn should go. It requires a commitment from you to keep on top of your financial life, but that’s the point. You become more intentional about managing your money and trimming areas where you are spending a bit too freely. ___
Want a quick upgrade for your garage? Try these magnets. Please use this link below so we get credit for referring! Thanks in advance!
|
Cels HomesStaying up with all the new data that come in can be challenging but that is what we are here for Archives
March 2023
Categories |
RSS Feed
