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Personal Finance Review
You’ll need to earn $2.00 for every $1.00 you want to spend assuming you pay 50% of your earnings on income tax, social security and Medicare. On the other hand, you get to keep 100% of every dollar you save on your personal expenses because the taxes have already been paid.
Periodically, review your expenditures with the diligence of an exuberant IRS agent on commission. It’s an exercise that most people don’t feel they have time to do but the rewards make it entirely worthwhile.
If you don’t want to review your credit card accounts, consider reporting the cards stolen so that new numbers will be issued. You can notify the companies that need your number. Companies who might have your number won’t be able to automatically renew services that you may no longer be using. You can be assured that they’ll contact you when the old number doesn’t go through and you can re-evaluate the decision at that time.
Interviewing a Mover
“I’d wish I’d know that before I made a decision.” If you’ve ever regrettably said this to yourself, having a checklist might have prevented the issue in the first place. This list of questions can provide you with things to discuss when interviewing a moving company.
Fees
Insurance
Unusual Items
Dates
Terms
What Can You Expect?
The two most frequently quoted constants in life are death and taxes. Two more things would-be homeowners can expect in the near future are increases in mortgage rates and housing prices.
Interest rates have been kept artificially low for several years by the Federal Reserve in an effort to strengthen the economy. Policy is shifting to allow them to seek their own natural level and that will surely result in higher mortgage rates. Rates on 30 year fixed mortgages are up over 1% from January, 2013.
Foreclosure activity is down, new home starts are up and prices have been increasing in most markets for two years. Most experts agree that the cost of housing is going up.
If the price were to go up by 2% and the mortgage rate by 1% while a buyer is “sitting on the fence” making a decision, the payment would go up by almost $175.00 each and every month for the term of the mortgage. Even if a person can afford to make the higher payments, what could they have done with that extra $175.00 a month? Buy furniture? Car payment? Principal reduction? Retirement contribution? Save for a rainy day?
Click here to determine what the cost of waiting to buy will be using your price home.
What Kind of Showing Was It?
One of the most frequent calls from homeowners to their agents is about the listing’s inactivity due to the lack of showings. The homeowner commonly believes that the home is shown only when a buyer walks through the house with an agent.
Today’s buyers are more sophisticated than in the past due to the abundance of information available to the public on the Internet. There are seemingly inexhaustible sites with homes for sale, valuation estimates and virtual tours. There are extensive mapping sites with satellite images, traffic conditions, entertainment, shopping and other points of interest.
There are actually three legitimate types of property showings. A knowledgeable buyer can view a home for sale online and make a reasonable determination of whether the home will fit their needs. Occasionally, buyers will drive by a home to get a feel for the home and also the neighborhood which might cause them to eliminate any further examination or consideration.
The third type, the physical showing, certainly gives the buyer the opportunity for the closest scrutiny but is generally reserved for properties that have passed the inspections of at least one other type of showing.
Sellers should be aware of the different types of showings and that a sales agent’s job is to help the buyer find the right home. The listing agent’s job is to market the home so that the right buyer finds it either through their own efforts or that of the buyer’s agent.