Monday: The most important feature of the home loan is the term, not the interest rate.
The term dictates the normal amount paid by the borrowers on their house, as they
strive to pay it off. A shorter term means less payments.

Tuesday: Even though the 30 year fixed has dropped lower than your 30 year fixed it will
cost you money if you refinance to the lower interest rate, because you start the 30 years of
payments all over again.. If you wish to refinance you can take a shorter amortization or take the lower 30 year fixed but keep the same monthly payment you currently have.

Wednesday: Today’s taxes on the profit on the sale of your house has a provision that will yield you, and or your spouse, special savings if you have lived in the current house for two consecutive years. If you are single the first $250,000 in profit will not be subject to federal taxes;
if you are married the first $500,000 in profit will not be subject to taxes.

Thursday: If you have a low loan to value you should try to take cash out of the property
and pay your much higher interest credit cards. This gets you a better balance sheet and lower
income taxes..

Friday: If you are going to pull cash out of your residence or any other real estate project
for the express purpose of remodeling your property, check your plans with a builder, architect,
designer, home decorator, a realtor and who ever else you can think of that can validate your
idea. You don’t want to take money and end up making the current place less valuable.

The first week of headline ideas to help the consumer. Let me know your thoughts.

When I was a young married man with a very young family, I found myself so deeply in debt that my goal was simply to get even. Eventually I got there and it was then that I realized  that getting even is not enough.  We are not built to get even; we are built to get everything we can get while applying our trade.
Think about it!  You certainly aren’t thrilled if you go to see a sporting event and it ends in a tie.
If you decide to make a wager you certainly aren’t excited if you get your money back.  When you go to work in the morning you don’t hope to come out even; you are looking for a profit.
You need to do more than simply live in the house you own, especially if your house is in a growing area.  If you were smart enough, or lucky enough to get into this great area you owe it
to yourself to take all the advantage you can to help grow your net worth.  Don’t waste the time  without preparing for your senior years while the opportunity is right where you are.
What steps can you take to be sure you’re heading upward, past even?
  1. Make a plan and own it.
  2. Review and revise your plan periodically.  Adapt to change circumstances.
  3. Reach your goals in stages if necessary. Do what you need to do to survive,
      but once you’re stable you need to rethink your position.  For instance you may have
      to go with a longer term variable mortgage for a period of time.  Once you get through the
      crisis start looking at shorter term loan, as the 15 year fixed.  This loan will get you going
  4. Don’t forget to maintain reserves.  Aim for six months to a year of liquid assets.
  5  Press your advantage.  When the economic climate is right, use leverage to strengthen
      your financial position.  When circumstances change, pull back and stay on the defense.
      Real estate interest rates are a good gauge of current economic conditions.
   6.Think positive.  An optimistic outlook often results in a much better outcome.
Stay focused on your plan, but don’t be afraid to make changes. They have erasers on
pencils for a reason!  Your the Captain of the Ship: bring it back in the best shape you can.
I have been married twice in my life and have always been interested in housing.  I bought six houses with my first wife over an approximately 21 years.  The last house I bought  was the first one I bought as a licensed real estate broker in California.
I remarried and  bought 2 primary residences and 12 second homes. That gives me a grand total of 20 homes in 43 years.
I also have several steady customers that I have bought 15 houses for one of the clients and approximately 7 for the other client. I also have a long term friend who was a builder until he retired and I sold the last house he built 3 times over during last 15 year period.
The evolution of my ideas for purchasing houses comes entirely from my experience in the business.  There are 3 rules I use when showing people houses that have worked continuously
over the time period I have spent in the real estate industry.
                   1.  People do not know what they want in the type of house they are seeking.
                   2.  Although they are always sure, and it is their #1 priority, the location loses
                        important pretty quickly almost every time.
                   3.  Money is always a sticking point, that goes away easily for the right house.
I will relate a story about one of my clients of about 30 years.  The couple hadn’t been married to long when they came to me and told me their house was too small and they wanted a certain type of house in a vey nice area close to where they were living and gave me a budget.  I wasn’t able to put there wishes into a sparkling new place for them  The husband said he would give me 6 things he wanted and if I could find them he would buy the house. He gave me the list and I went to work.
They got the “dream house”  and at a party a few months ago I asked the husband if he remembered the list.  He said he remembered the list but couldn’t recollect what was on it.  I told him to sit down and relax and I would tell him what was on it. He did. The list contained the size and design of the desired house: ranch style, one story.  It had the approximate location, south of the main boulevard.  It couldn’t be near the freeway and have easy access.  Last but not least it would be less than $1 million.
The house they bought and still live in is a two story Tudor, north of the main boulevard,
a pitching wedge to the freeway with almost a one lane road in front of the house that cost
50% more than he wanted to pay.
THIS EXAMPLE IS NOT THE EXCEPTION:  It just happens this way almost all the time.
Thanks for reading How To Buy A House The Right Way

homeBuying a house to live in is a great thought but just half of an idea. It is at least 3 or 4 decades that home buyers have been looking for more than a house to live in, and more importantly, one to to invest in. The truth behind what I just said can be proven by simply talking to friends and acquaintances about their house. You will not get an answer from the past; 3 bedrooms and a nice backyard, which gives us room to expand when we enlarge our family!

That answer would have been right on in the ’70’s or ’80’s but not today. Most of the younger homeowners are excited by their home, but deep down they are over joyed with opportunity to make money while living in a necessity: their house. They are aware of their neighborhood and its financial potential while they are raising there family, but secretly calculating their future.

There are many ways to make the pleasure of your house become the treasure of your family. Certain types of loans can help give you the formula for success; while other tools
such as the tax code can give you another solution. Unfortunately many don’t think about other options.

A great option is the opportunity to sell your house and get profits $250,000 for single owners; and $500,000 for married without any federal income taxes on the profit. All you need to do is live in the house for at least 2 years as your owner occupied house, and have profits of $250,000 to $500,000, Best of all you don’t have to live in the property the last two years. You just need to have lived in the house any consecutive 2 years during the time you have owned that house.

If you don’t want to sell the house you can refinance, pull some cash out, and buy a second home or rental which will give you pleasure, profit and in many cases both. Because the youth of today are not maturing as fast as we did they are more than content to live in a rental. Rentals are in big demand and rents are going through the roof.

There are still many other ways to make your house pay, such as trading it for units , two to four, and occupy one and rent the rest. If you are in the right area you can completely upgrade your house for a quick sale, or to enhance the home as a rental. You can take a reverse mortgage and make no more mortgage payments for life.

If you have time explore your neighborhood and see what you might find to enhance your property. After all you were smart enough to get there so don’t stop now.

As per usual we are ready to help you embolden your dream!