Bernie Madoff Investment Advice, Refi Myths Busted, Why It’s So Hard For the Poor to Get Ahead Today, and Most Expensive Home Styles in America. Thanks for reading today!
Madoff: Don’t let Wall Street scam you, like I did
MarketWatch | June 5, 2013
If investment looks too good to be true, it is, says Ponzi scheme architect.
Another Top-10 List (and Bottom 10 List) — States Offering Most (Least) Comfortable Retirement
Jones on Real Estate | June 18, 2013
Economically speaking, where are the best places to retire (and economics may have nothing to do with climate, health services, proximity to medical care or nearness to family and friends)?
The most expensive home styles in America
Market Watch | June 17, 2013
Most people know that a mansion costs much more than a farmhouse. What many might not be aware of is that the style of a home can also have a major impact on its price.
How Interest Rates Affect The Housing Market
San Francisco Chronicle | June 17, 2013
In this article, we’ll discuss the influence of interest rates on the mortgage industry, and how both will ultimately affect the amount you pay for your home.
(A great little primer on mortgages and interest rates. ~Anthony)
Artificial Grass: It’s Not Just for Stadiums Any More
The Wall Street Journal | June 13, 2013
After a makeover, synthetic grass is showing up in residential driveways, courtyards and high-traffic areas.
4 Myths about Refinancing
Fox Business | June 18, 2013
Be sure to understand the process fully and the long-term financial impact of refinancing your mortgage. Here, the biggest refinance myths are debunked.
RIP, American Dream? Why It’s So Hard For the Poor to Get Ahead Today
The Atlantic | June 18, 2013
High-income kids who don’t graduate from college are 2.5 times more likely to end up rich than low-income kids who do get a degree.
A Comment below from a Mortgage Loan Officer on the cash sales article we had yesterday:
I found it interesting that the cash buyer article never mentioned the opportunity cost, or the risk of buying cash. People think that not having a mortgage reduces their risk. I have heard this many times, so I ask, “risk of what?”
The reality is if you go all in on a cash deal to avoid a mortgage you may lose out on the opportunity to grow wealth ( as opposed to reduce debt. Just ask Bill Gates if growing wealth trumped debt reduction) and live a better life, or you put yourself at extreme risk when life happens.
If you have a major life event that causes income lose or creates tremendous debt (i.e. serious health problem) the fact that you have no mortgage will be a moot point. What you need is the cash reserves to make it through the crisis that are now tied up in your house and didn’t need to be.
Oh by the way, a refinance to extract that equity is rarely an option in these crisis situations (maybe a reverse mortgage may save you).
Cash buyers need better advice. Look at both sides of the equation. Sure no debt sounds nice…but at what cost?Anthony Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave. Spokane, WA 99201
509.328.7171 or 509.321.3939
Acarollo@stewart.com Anthony Carollo