In A House But Not Married

June 15, 2017

Not long ago, as we were doing introductions at the beginning of our Homebuyer Express class, one of the participants stated that he was scheduled to close on his new house in two weeks, but was still shopping around.

Ummmm, what???

As the story goes, he and his girlfriend were going to buy the house together and he, in the interest of peace and harmony, let her pick out the house.  But now, before closing, she was no longer girlfriend.  He could still afford the home, but it wasn’t the home he wanted.  So he was still looking around and trying to decide if the extra costs of backing out were worth it for him.

As more and more unmarried people are buying homes together, it brings some “interesting” potential issues to the surface.  Even if the individuals buying together aren’t a couple, but rather siblings, business partners, or just friends, the situations can provide for some more challenging “now what” moments. Read the rest of this entry »


Should You Buy a House?  5 Things to Consider.

June 8, 2017

As June is National Homeownership Month, we are doing a series of blog posts relating to home ownership.  Each will have a different perspective, so stay tuned for more.

First, full disclosure.  I teach our homebuyer education course.  I have my real estate license.  Even though my license is inactive, I am still involved in our local real estate association.  I even teach the classes required to get your real estate license.  Am I invested in that world?  Yes.

I’ve been both a renter and home-owner.  I currently own my own home and would have it no other way.

I am a big fan of home ownership.  It is no secret.

I’ll also be the first one to tell you that home ownership is NOT for everyone. Read the rest of this entry »


What to Spend on Your New Home

April 20, 2017

 

Tired of renting?  Tired of the landlord?  Tired of the crazy neighbors doing who knows what and all kinds of hours?  Tired of nothing but white walls in your living space?  Tired of someone else parking in your parking space?  Tired of paying every month and getting nothing (except maybe part of your deposit) back when you move?  Perhaps it’s time to move out of your parents’ house…..

OK, so this probably isn’t your parents’ house anymore.  But it may still be time to move on.  Perhaps it’s time to look at buying your own home.  As our clients consider a home purchase, one of the most frightening issues they face is determining exactly how much they should spend on a home. Read the rest of this entry »


Mortgage Paperwork – Why the Pain?!?

February 20, 2017

Pay stubs.  Tax returns.  Bank statements.  Lists of liabilities and assets.  Credit card statements. Loan documents.  Affidavits.  Investment statements.  Gift letters.  Purchase contract.  Property tax assessments.  Landlord/rental history.  Retirement account statements.  Driver’s license.  Social Security card.  And now that you have submitted all of that, you have to do it all again with updated copies.

As much work as it takes, it’s almost like mortgage lenders don’t really want to give you a loan.  I assure you, that’s not the case…… usually. Read the rest of this entry »


Is It REEEEEALY A Good House?

December 14, 2016

 

So what is your new year going to look like?  What do you want house-and-coinsto do this year?  Change?  Experience?  Does that list include the purchase of a new home?  Does the enormity of that idea scare the bajeebbas out of you?  Don’t worry, you aren’t alone.  After all, how do you know it’s a good home?  Has it been taken care of?  This is a huge purchase and commitment.  How do you know you aren’t getting into a money pit?  There have been at least a couple of funny movies based on that experience.  Is your purchase going to inspire an entirely new episode of comedy?  Possibly…… Read the rest of this entry »


How To Get Sellers To Say ‘Yes’ To Your Offer

June 17, 2015

Think it’s time to look for your first home?  Here’s a little dose of reality to start you off.

Here in the Sioux Falls market (and reflected in many markets around the region) there is a general shortage of listings in the typical ‘first-time buyer’ price range.  Like, about a third of what they would like to see.  This means things are going fast.  One couple I had in class in Sioux Falls reported they had put offers in on three different houses the day they came on the market and were still too late.  The homes had sold.  One client in Brookings reported they had it happen four times before they got a home. Read the rest of this entry »


%d bloggers like this: