celebrity homes omaha: Home Safe Home - 09/24/17 10:35 AM
Home is a place you should feel safe and secure. Sometimes, we take it for granted and unfortunately, we do need to remain vigilant about things we do that could compromise our safety. Here are a few tips to consider:
 
Everyone loves an inviting home including burglars. Make sure it looks occupied and is difficult to break in. Always lock outside doors and windows even if you’re only gone for a brief time. Lock gates and fences. Leave lights on when you leave; consider timers to automatically control the lights. Keep your garage door closed even when you’re home; don’t tempt … (2 comments)

celebrity homes omaha: Rentals are IDEAL - 06/06/17 03:36 PM
Rental homes are the IDEAL investment because they offer a higher rate of return than other investments without the volatility of the stock market. With certificates of deposit and bonds at less than 2%, people need an alternative investment that they understand and with a reasonable amount of control.
In this case, IDEAL is an acronym identifying the advantages of rental properties.
 
Income from the monthly rent contributes to paying the expenses and a return on the investment. Depreciation is a non-cash deduction that shelters income for some investors. Equity buildup occurs with amortized mortgages because each payment is composed of interest … (0 comments)

celebrity homes omaha: Save the Cost of Mortgage Insurance - 06/01/17 02:12 PM
During the banking crisis in the Great Recession, certain types of mortgages were unavailable that are once again being offered. Fortunately, the 80-10-10 mortgage is one of those making a reappearance and it can save borrowers a considerable amount of money.
 
The objective of an 80-10-10 mortgage is to avoid the expense of mortgage insurance for buyers wanting a 90% loan. A buyer can obtain an 80% first mortgage and a 10% second mortgage with a 10% down payment and not be required to have private mortgage insurance.
For example, a buyer could put $30,000 down on a home priced at $300,000 and … (0 comments)

celebrity homes omaha: Six Reason to Consider Rental Homes - 05/20/17 11:19 AM
Single-family homes offer an investor the ability to borrow large loan-to-value amounts at fixed interest rates for long terms on appreciating assets, tax advantages and reasonable control. Some of these characteristics are not available through other investments.
 
75-80% loan-to-value mortgages are available on most residential properties up to four units. Comparatively, the stock market allows you to borrow up to 50% on a stock but if the price goes down, they will require additional cash to keep the ratio at or below 50%. If it isn’t available, your stock can be sold to satisfy the loan.
Real estate investors call getting a long-term … (0 comments)

celebrity homes omaha: Mortgage Loans from Relatives - 05/17/17 11:50 AM
Occasionally, when dealing with close relatives who might also become heirs, signing a note and handling the paperwork properly may seem like a needless effort but it could mean the difference in being able to take a legitimate interest deduction.
 
Home mortgage interest is deductible only if the loan is a secured debt which involves the buyer signing an instrument like a mortgage or deed of trust that makes the ownership of the home security for the debt. That instrument must then be recorded or otherwise perfected according to state or local law and the home, in case of default, must be able … (0 comments)

celebrity homes omaha: Facts and/or Myths - 01/08/17 05:57 PM
“It’s impossible to get low down payment loans.” – FACT! FHA down payments are 3.5% and VA is 0%. In some areas, there may be some 0% down payment USDA loans available. FNMA and Freddie Mac have 3% down payment programs.
“It takes perfect credit to get a loan.” - FACT! There is a relationship of better rates to better credit but many issues on a credit report can be explained or corrected. The way to know for sure is to speak to a reliable lender.
  “If I’ve had a bankruptcy or foreclosure, I can’t qualify.” - FACT! Credit history following a bankruptcy or foreclosure is very … (3 comments)

celebrity homes omaha: What a Difference 50 years Makes - 12/20/16 03:36 PM
In 1966, a gallon of gas was $0.32 and today, it is $2.49. A dozen eggs were $0.60 but they’ve only doubled to $1.33. A gallon of milk was $0.99 and today, it costs $3.98. You could send a letter for five cents and now, it costs forty-seven cents.
 
The average cost of a new car in 1966 was $3,500 and today, it will cost $33,560. New cars have more features than the earlier models but they’re still ten times more expensive. The median price of a new home was $21,700 and now, is $304,500.
Interestingly, mortgage rates are actually lower today at … (5 comments)

celebrity homes omaha: It's the Principal of the Thing - 11/17/16 03:30 AM
Most people think they’ll have a house payment and a car payment for the rest of their lives but it doesn’t have to be with a plan and a little discipline. The plan is to make additional principal contributions to a fixed rate mortgage to shorten the term and save tens of thousands in interest.
 
If a person were to make an additional $100 payment each month applied to principal on a $175,000 mortgage, it would shorten the loan by five years six months. If the person were to make $200 a month additional payments, it would shorten the loan by 9 … (2 comments)

celebrity homes omaha: Tips for Buying Rentals - 04/26/16 05:49 AM
Buying rental property can be an excellent decision and the better informed you are, the more likely you'll have favorable results.  The following suggestions can help you with your decisions.
 
Real estate is a long term investment affected by supply, demand and the economy.  It isn't an investment that is easily converted to cash.  The costs to acquire and dispose of real estate are sizable and need to be spread over years to minimize their effects on the rate of return.
 
Invest in average price homes or slightly below average price to appeal to the broadest market not only when you are renting … (0 comments)

celebrity homes omaha: Temporary Buy Down - 04/25/16 04:35 AM
There is an infrequently-used mortgage program available that could be the solution to a buyer's or seller's problem.
 
A temporary buydown is fixed rate mortgage that the seller has prepaid interest at closing to lower the payments for a number of years.  The borrower must qualify at the note rate but gets the benefit of lower payments for the early years.
 
A 2/1 is a common buydown that the first year's payment is calculated at 2% lower than the note rate and the second year's payment is calculated at 1% lower than the note rate.  The third through thirtieth years' payments are the … (2 comments)

celebrity homes omaha: Savings Account = Principal Pay-down - 04/01/16 04:20 AM
One of the big banks has a voluntary program available that transfers $100 each month from your checking account to your savings account. In five years, the account owner would have over $5,000 because of a type of forced savings. 
Similarly, when a person buys a home with a standard amortizing loan, each month, a part of the payment is used to reduce the principal loan amount. Amazingly, over $4,000 would be applied toward the principal in the first year of a $250,000 mortgage at 4% for 30 years. In five years, the loan amount would be reduced by almost $25,000 through … (1 comments)

celebrity homes omaha: FEMA Emergency Ready Kit - 03/29/16 07:33 AM
The Federal Emergency Management Agency (FEMA) recommends that all Americans have some basic supplies on hand in order to survive for at least three days if an emergency occurs. It is recommended that the Ready Kit should be assembled well in advance of an emergency.
The concept is to be able to survive for at least 72 hours until local officials and relief workers arrive on the scene. The disaster could be wide-spread and involve a lot of people that makes it difficult for relief workers to reach everyone immediately.
Water, one gallon per person per day for at least three days … (2 comments)

celebrity homes omaha: Low Inventories Indicate a Trend - 03/28/16 04:29 AM
Low inventory is a relative term depending on how you're comparing it.  Would the comparison be to total number of homes on the market last year, homes in a certain price range or homes in a certain area?  In some situations, it's a combination of all of those things.
In any given market, inventories will fluctuate based on area and price range.  The National Association of REALTORS® considers a balanced market to be six months' supply of homes.  If it takes longer than six months to sell, it is thought to be a buyer's market and less than six months, a seller's … (1 comments)

celebrity homes omaha: More Money in Your Paycheck - 03/28/16 03:32 AM
A homeowner’s tax savings benefit is generally realized when they file their federal income tax return after the money has been spent for the interest and property taxes. Some people look forward to the refund as a means of forced savings but some people need to realize the savings during the year.
 
It is possible to adjust the deductions being withheld from the homeowner’s salary so they realize the benefit of the savings prior to filing their tax returns in the form of more money in their pay checks. Employees can talk to their employers about increasing their deductions stated on their … (0 comments)

celebrity homes omaha: Leverage - A Maximum Advantage - 03/21/16 03:51 AM
Leverage gives the user a maximum advantage whether it is physically lifting a large object or rapidly building equity in a home. In the case of the home, the high loan-to-value mortgage allows the profits made to be greater than simply the cash invested.
 
A $250,000 home can be purchased on a FHA loan with a 3.5% down payment of $8,750. If the home appreciates at 2% a year, in seven years the equity will grow to $75,920 due to the appreciation and the amortization of the mortgage. That would be a remarkable 36.2% rate of return.
It is estimated that homeowners have a 45 … (0 comments)

celebrity homes omaha: Pay Yourself First - 02/22/16 07:30 AM
The principle to pay yourself first has been referred to as the Golden Rule of Personal Finance.
The concept is that one of the first checks you write each month is for your own savings. The rationale is that if there is no money left after a person pays their bills, there is nothing to contribute to savings or investments that month.
 
By establishing a priority to save, a person realizes that the balance of their monthly income must cover living expenses and other discretionary spending. This is a much different strategy than saving what is left over from monthly expenses and other spending.
Many … (1 comments)

celebrity homes omaha: Homeowner Advisory - 02/15/16 08:50 AM
Similar to an annual wellness physical, homeowners should consider an annual review of the financial elements of their home. It’s particularly valuable based on the fact that their home and its equity is generally, one of their largest assets.
 
List of similar properties recently sold and currently available Information on challenging property tax assessment Refinance Analysis to: lower your rate shorten the term make improvements eliminate mortgage insurance remove a person from the loan eliminate credit card debt combine loans take cash out of the equity Equity Accelerator to retire the mortgage within a specific period of time Repairmen and … (0 comments)

 
Michael McGlynn -Buyers Like Mike!, Buyers Like Mike!....Find Out Why! (Re/Max The Producers)

Michael McGlynn -Buyers Like Mike!

Buyers Like Mike!....Find Out Why!

Omaha, NE

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