While the inspection findings can be used to request repairs or credits, and potentially even a price reduction on the home, you should realize the seller has zero obligation to fix anything. The asking price of the home may already reflect the issues and the property’s condition. Your real estate agent will help you as much as possible in negotiating repairs or credits. And we can refer good realtors; we often do. Sometimes in these situations, the seller is in no hurry to close or move. Maybe they’ve already had multiple offers on the table. Most of the time, the purchase contract will allow you to opt out of your offer if negotiations for repairs or credits do not yield the desired result. Understand and know your purchase contract fully, especially as it relates to property condition. Lean on your experienced real estate agent and your lender for quality feedback during your negotiations. Ask us how.

Property value and real estate taxes usually are directly tied to the quality of schools in the area. And even if having a family isn’t in your immediate future, schools are usually the first indicator of economic health in the community. So as the saying goes, in real estate anyways, location matters, so the quality of the schools matters as well. And it might seem odd to consider the selling situation before you even own the home, but an exit strategy, also known as a selling strategy, is somewhat important while buying. The quality of the school system will be a factor other buyers consider when you choose to sell your home. Your real estate agent will likely sing the same tune. Be smart, get educated, schools matter.

Millennial Money: Why this tech-savvy, social media, passionate generation may have difficulty saving for the future

The stereotype is millennials are lazy and entitled. But, that’s far from the truth. In fact, this group of tech gurus, social media specialists who have a knack for food and culture are driven to making a difference in the world. Our way of living and doing business has dramatically changed due to the technology inspired and developed by this largest living generation. But, when it comes to finances, millennials may experience some challenges to building a nest egg.

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Shipping-Container-Life

Shipping containers; you seem them, a lot. From on the road to rail and water, these large steel containers appear as giant Lego blocks, packed with goods that keep us and the world moving. It brings us to the question, have you thought about what’s inside of them? Or better yet, did you ever imagine living inside of one? Okay, chances are the idea has never crossed your mind, but calling a container home is very real.

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Closing timelines are not only related to the type of loan, but also the buyer’s preparedness. A smart first step is a pre-approval strategy meeting, ensuring you will become educated about the home buying process. Being mentally and financially prepared can simplify the process, and will assuredly instill some confidence. Mortgage loan milestones differ depending on the type of loan. And while it’s not extremely common, closing loans in two weeks can happen. Recognizing our Boardman team’s efficiency, folks recently made loan application on March 2, and closed March 15. That’s 13 days – that’s fast! And that’s an understatement. Typically speaking, 30-60 days is an appropriate timeline. Organization of credit, financial documents, and simply being mentally prepared promotes efficiency. Want to close fast? Get educated. Ask us how.

Well I suppose you can compare mortgage rates, however, comparing loan programs and/or mortgage companies based on an advertised rate is quite near-sighted. One mortgage ad might say “4.5%” and another “4.25%.” But the 4.25% option is not always the better option. One might ask, “are there other fees involved?” “Is this the right mortgage person, or company, for me?” “How reliable is this lender?” Dependability of the loan program and its purpose is also important to consider. Another factor could be the condition of the home. Carrying costs, known as maintenance and utilities, account for the second largest expense in home ownership. A minor difference in rate between loan programs may afford you the ability to involve improvements or repairs within the loan. Doing so limits exposure to long-term consumer costs. And while interest rate is important, it is more important to fully research options versus going off of a single ad. Learn about mortgage money, ask us how.

The housing market is growing, especially here in Northeast Ohio. In 2017, home sales across the region rose 1.6% with annual average sale prices increasing 6%. Sure, this is great news! But, the rise in sales has created a bit of a shortage in terms of available properties. Prospective homebuyers are now getting crafty with their tactics, including one of the best-kept secrets in the market today. Continue reading

When buying a home, the buyer always has closing costs to consider, if using a loan to purchase the property. And negotiating with the seller to cover a specific amount of closing costs does not mean all the additional costs can be paid by the seller. Certain lending guidelines must be followed to ensure the proper amount of money is accounted for in the offer. When a seller pays closing costs, the money to pay those costs comes from the sale of the home – also known as the seller’s proceeds. So a seller is quite likely only interested in the bottom line. However, let’s also remember that a seller may decide against including credits to cover a buyer’s closing costs and prepaid expenses. Having sufficient cash reserves can ensure a successful and smooth closing process. Learn how to buy, and then execute your strategy. Be smart. Ask us how – we can help!

Mortgage interest can only be deducted if you itemize on your tax returns. Another factor is that nearly 70% of tax filers take the standard deduction, thereby disqualifying the mortgage interest deduction. If you’re married filing separately, it’s important to note that both parties must choose the same deduction. And the standard deduction was $12,700 in 2017, meaning if you itemize your deductions, it must be more than that. Overall, I suggest some tax planning advice. Would you like a CPA or a tax planner? We can refer one. Simply ask us how.

There’s a new way of thinking as Youngstown and the Mahoning Valley have undergone an identity transformation, but this hasn’t come without its challenges. The latest setback involves General Motors announcing it would eliminate the second shift at its Lordstown, Ohio assembly plant, affecting as many as 1,500 jobs. Sure, we’ve endured hardships and experienced decades of economic decline, and relocating elsewhere may seem like the only viable option, but really, better days are ahead and are taking shape in the form of new opportunities in business, entertainment and redevelopment. Continue reading