home buying: Dry Martinis and Home Buying
- 01/12/12 03:56 AM
If you want a dry martini, it takes about one part dry vermouth and eleven parts vodka or gin. Stir or shake depending on your beliefs, and drown two olives. Eleven to one is what makes the martini dry.
So you don't want to make a martini? You want to buy a home? Eleven to one is also what home buyers should remember when they are trying to decide whether they should buy now or wait a while. If the interest rate on your home loan increases, the price of the home must decrease at an approximate ratio of eleven to … (10 comments)
|
home buying: Is it time to stock up?
- 09/27/11 04:28 AM
Buying real estate to be used as a home is not primarily investing, it is purchasing a consumable. We don't really invest in cars, boats, food, toilet paper, or a warehouse to store them and ourselves in. We buy them so we can use them. Just as most consumables depreciate over time, homes sometimes will depreciate. Normally, we purchase consumables when we need them. That is, unless they're on sale and we have enough extra cash or credit to stock up.
Most of us know that real estate is on sale right now, and a large portion of the sales this … (5 comments)
|
home buying: 100 shopping days until Christmas -- How many days left to shop for a new home?
- 09/16/11 04:17 AM
With a hundred days to go, September 16 marks the last of the three digit number of days until the Christmas shopping season ends. For almost everyone, it hasn't yet begun, and we will complain that retailers are rushing us. We will complain until we start worrying that there doesn't seem to be as much time as we need to get everything completed on time. It happens every year, doesn't it?
Many folks know that they would be happier, and that their families would be better off, if they were to find another place to live that fits them better. Maybe … (1 comments)
|
home buying: Is your landlord a lunatic?
- 07/07/11 04:36 AM
He may be a lunatic, but he's got you making his mortgage payment every month. Your landlord understands the value of home ownership. That's why he owns your home, and he's getting rich in the process. He may be crazy, but he sure isn't stupid, is he?
Interest rates continue to remain low, and home prices are as attractive as they have been in at least a decade. Now is the time to pursue options including whether a new home makes sense for your individual situation. Start with a free home buying strategy session. If you have about an hour and … (4 comments)
|
home buying: Loose analogy between gas prices and home buying
- 07/05/11 05:51 AM
There are a few things we may be able to learn about home buying from how we behave when gas prices change. The spring gas price increases and home buying decrease of the last several years are mostly pertinent to investors buying stock in home building companies and commodities traders.
When gas prices spiked, we complained about having to spend so much, and we may have tried to curtail some of our driving time. We still put gas in the tank when we needed to fill it, and we still used our cars and trucks to continue living our normal lives. … (1 comments)
|
home buying: Patient buyers, what are you waiting for?
- 03/05/11 05:17 AM
Many folks are watching the real estate market and waiting for the best time to get into the game. While patience is considered a virtue, being too patient may cost you a lot of money. The object of patience is to be able to pull the trigger at the most opportune time. That's not a bad idea if you have absolutely current data and a bit of clairvoyance.
The problem with the most current data is that much of it measures conditions as they were. It's not really current, and it will never really be current. Some housing data measures conditions … (1 comments)
|
home buying: Thinking about buying a home in the next year or two? Free home buying guide
- 02/15/11 03:56 AM
The largest commitment in both money and personal impact on our lives is buying a home. It's not something that anyone should rush into. In the last several years, we have all seen the results of poor planning or lack of planning altogether.
If you're a renter, much of the responsibility of owning a home is already on your shoulders, albeit in a more temporary mode. You are committed to making a mortgage payment for the duration of your lease. You don't own the property, but you are still responsible for a share of the mortgage and property tax payments. Your … (0 comments)
|
home buying: Westminster Kennel Club Dog Show February 14 and 15
- 02/13/11 07:23 AM
Valentines Day means different things to different people, many of the most different being Dog People. The oldest and most famous of all American dog events is the Westminster Kennel Club annual show in Madison Square Garden. This is the big one for folks who are involved with canine conformation competition.
To some of us, it's about getting to watch a dog show without stepping in anything. The group and best in show competition will be televised on USA Network, except for the last two hours of the first evening which will be televised on CNBC. The broadcast schedule reminds me … (7 comments)
|
home buying: Dakota County renters, are you ready for the house hunting opener?
- 01/23/11 04:04 AM
We are rapidly closing down on the official Minnesota House Hunting Opener which, of course coincides with Groundhog Day, February 2. Ten days from today the masses of homebuyers will wake up, fail to see their shadows, and hit the streets to find a place to buy before the lease expires in May.
There will be some left behind in the rush. Some folks who are tethered to their landlords will approach the mandatory declaration of independence deadline prior to lease expiration and sign an extension in a moment of panic. Why? Why would anyone want to extend their apartment incarceration … (0 comments)
|
home buying: Attention home hunters : Days are already getting longer
- 01/07/11 10:02 AM
You can't see much in the dark, and winter months make it hard for home buyers to do much touring on weekdays. By the time you have left work, it's almost dark. That means house hunting probably is best done on weekends.
Just a couple weeks ago, days began to get longer. There is now almost enough time for a quick home showing or two before it's too dark to see the outside of a home. If you're thinking of buying this spring, do yourself a favor and start looking now. Interest rates could creep up, and other buyers will also … (0 comments)
|
home buying: How does the housing market influence owning your first home?
- 01/03/11 02:55 AM
The housing market has been at a monumental low point, and it may remain there for a while. If you own a home, you are almost certainly aware that the amount of equity in that home has been affected. If you want to change houses, you have some challenges to face. It may not be possible to make a change now or in the near future.
If you are a renter, the slow market is an ideal time to break away from the shackles of renting and declare your independence. The slow market has brought lower prices and more affordability. Reasonable … (3 comments)
|
home buying: Attention renters. Top five suggestions for Christmas gifts for your landlord.
- 12/23/10 01:41 AM
5. Tell him you're moving out in May.
4. Tell him you're moving out in April.
3. Tell him you're moving out in March.
2. Tell him you're moving out in February.
1. Tell him you're moving out in January.
It's probably too late for number one, but nobody gets the first choice all the time anyway. Why give your landlord a gift? Because he deserves it and he is probably planning to give you a gift of equal or higher value (to him) next year. Yes, he's probably going to give the gift that keeps on giving (to him). … (4 comments)
|
home buying: Thinking of buying? Terms trump price.
- 12/19/10 05:53 AM
If you're planning to buy your first home, you're probably wondering how much home you can afford. It may surprise you that a lender doesn't have much concern for the price of the home you choose. As long as the appraiser thinks the home is worth the selling price, the lender will be satisfied.
When you are ready to make a buying decision, you will first need to ask a lender to give an indication of your ability to secure financing. You will request a pre-approval to finance a home purchase. You will be asked to submit certain information about … (4 comments)
|
home buying: Seven shopping days until Christmas -- The stampede is in full force
- 12/18/10 01:25 AM
We are way past the part of the season when we complain that the retailers are rushing us. The complaints about Christmas promotions coming too early are mostly forgotten. It's just about panic mode. The good stuff is gone and the sales we were waiting for have not materialized. A month or so ago was a great time to shop, but we waited. Now, the most sought after gift items are hard to find and overpriced. There is plenty of less desirable stuff, but it's no bargain either.
OK, enough about real estate. It's not March yet, and we still have … (2 comments)
|
home buying: Thanksgiving, once a year for renters -- thirteen times a year for your landlord
- 11/25/10 02:50 AM
As a nation, we set aside the fourth Thursday in November to recognize and give thanks for our good fortunes. In varying degrees, we are thankful for our friends and families and their well-being, and we are thankful for our health, both physically and fiscally. No matter how good or bad the last year has been we are thankful for some degree of peace and prosperity. All this is part of our one day a year to reflect.
Some folks actually celebrate their thanksgiving more than a dozen times a year. Landlords celebrate along with all of us on the nationally … (0 comments)
|
home buying: Black Friday lessons for spring home buyers
- 11/22/10 06:53 AM
The retailers' favorite day is this week, Black Friday. Although there are some really good blowout prices on a few items, retailers are not excited because they are almost giving away merchandise. The millions of shoppers on the day after Thanksgiving will mostly buy at or close to normal retail price, and they will buy lots of stuff. Some of the more sought after gift items will be strategically sold out, with a generously offered rain check to bring you back another day -- and you will be back.
A few folks, like the couple in Tampa who have already been … (1 comments)
|
home buying: Why do I have to pay earnest money when making an offer on a home?
- 11/18/10 02:32 AM
Home buyers often question the reason for earnest money when making an offer on a home. Sometimes they feel as if they are paying the seller to look at their offer. They also often want the earnest money to be the least amount necessary.
During our initial orientation, earnest money is one of our covered topics. The purpose of earnest money is, as it sounds, to demonstrate seriousness and commitment on the buyer's part to actually purchasing the home. There are a couple of reasons why that demonstration is necessary.
First, the seller will evaluate your offer on several bases. Is … (0 comments)
|
home buying: Wanna buy a foreclosure? A dozen things you need to know
- 11/13/10 04:33 AM
If you are thinking about buying a new home, some of the most attractive properties and prices that you come across in your internet searches will be property that has been reposessed by the lender. Foreclosed homes come in all sorts and sizes, and they carry risks and rewards that all homebuyers should understand when house hunting.
Here is my list of a dozen things that make foreclosed property different from homes currently owned by real people. While I feel that all are important, while actually touring homes, none will come close to the immediate impact of not remembering number twelve.
… (6 comments)
|
home buying: Today is the first day of the rest of your credit
- 11/07/10 03:44 AM
Although some "credit repair artists" claim differently, you can't change history. If your credit report has no errors, and it says you have had issues in the past, there is nothing that will change it. That leaves two things you have the power to fix, present and future.
If you are behind on a bill or two, fix it. Pay the bills current. If that means you have to make a few temporary life style changes, fix it anyway. If you need a new car because the old one is broken, fix it. It's cheaper to fix the old one than … (2 comments)
|
home buying: Some advice for home buyers, especially first-timers
- 10/20/10 09:19 AM
The market is great for home buying right now. Even with some foreclosed property temporarily off the market, the supply of well-priced homes is much higher than the demand. The opportunity to finance at a rate lower than any in your lifetime is right now. For buyers, especially those without a home to sell, it couldn't get much better.
There are some realities that need to be faced before making the big decision. Today's slow market could continue for a very long time, and rapid price appreciation is a probability similar to your odds of winning the lottery. There are a … (2 comments)
|
|
|
|
If you want a dry martini, it takes about one part dry vermouth and eleven parts vodka or gin. Stir or shake depending on your beliefs, and drown two olives. Eleven to one is what makes the martini dry.
;)
;)
;)
