Question of the week: What do you mean my interest rate is lower than my interest rate? Answer: Disclaimer, I am not a tax professional, this week’s WR&MU is for informational purposes using example that may not (probably not) reflect actual values and dollar amounts. Please consult your tax preparation professional to determine the impact […]
Question of the week: Can you explain a reverse mortgage and its benefits? Answer: For several years I have been saying that reverse mortgages (RM for the remainder of the WR&MU) are the most misunderstood financial tool available to consumers. Because the lack of knowledge of RMs, how they work and the benefits, many eligible […]
Question of the week: Should we refinance? Answer: Maybe not yet. Turbulence is an understatement to describe our markets this week, and the turbulent conditions will not be more stable for a little while yet. Investors are not fans of turbulence as it makes the future murky as to what investments will be beneficial and […]
Question of the week: Should we have seller pay costs? Answer: Yes. While the answer seems obvious, of course you should have a seller pay costs for you—if they are willing. But what if the question was, “should we pay more and have the seller pay costs?” The answer will almost always still be “yes.” […]
Question of the week: Are prices dropping? Answer: Yes and no, depending on where the property is located and what price range it is in. The California Association of Realtors sales report for February sales shows some interesting data. The big picture raw data shows statewide the median sales price was $829,060 in February, down […]
Question of the week: Should we build an ADU? Answer: Maybe. Accessory Dwelling Units add value to a property, how much depends on multiple factors so it may take a while for your increase in property value to catch-up to your costs of building an ADU. Over the past several years Sacramento has been fairly […]
Question of the week: Should we use an FHA loan to purchase our home? Answer: Maybe. Every Friday we provide a snapshot as to what mortgage rates are doing on a week to week, month to month basis. The parameters use conforming mortgage products for a purchase transaction with 20% down, a 740 FICO at […]
Question of the week: Economy: breezy or stormy? Answer: Back from relaxing week in Maui with very soft and pleasant breezes, where a cold front is 81 degrees and a heat wave is 87 degrees, I spent some time relaxing by diving into so economic and mortgage data as we enter the end of the […]
Question of the week: Are mortgage rates going to go up? Answer: I shook my Magic 8-Ball and its answer matched my own, signs point to yes. Mortgage rates operate independently of the Federal Reserve. That said, investors who determine mortgage rates take their cues from the Fed. That said…the primary cues investors take are […]
Question of the week: What are some areas we should review to start the year? Answer: If the question of the week looks familiar, it is as it is we ask near the beginning of every year; because it is that important. Over the next few weeks, or months depending on your particular situation, you […]
