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Monthly Archives: March 2021

    Say ‘NO’ to FSBO

    By Mike Parker | March 29, 2021

    To understand the reasoning behind why a homeowner should not sell their home by themselves, we need to identify the motivation.  Probably, more times than not, the homeowner wants to “save” the cost of the commission.  It certainly represents a significant amount of money. In 1981, homes sold For Sale by Owner represented 15% of... Read More

    Homeowner Equity & Wealth Accumulation

    By Mike Parker | March 23, 2021

    National homeowner equity grew in the fourth quarter of 2020 by $1.5 Trillion or 16.2% year-over-year based on a CoreLogic analysis.  The study was done on the six out of ten homeowners who have mortgages on their home. The fourth quarter of 2020 also saw the number of mortgaged residential homes with negative equity decrease... Read More

    It Costs Less to Own

    By Mike Parker | March 17, 2021

    The rent to income ratio is the monthly affordable rent as a percentage of monthly income.  Ideally, tenants should keep it within 30% of monthly gross income.  In some markets, in may not be possible because the shortage of available rental units.  In these situations, tenants are required to spend more than 30%. Let’s assume that a person/couple... Read More

    Skip the Starter Home

    By Mike Parker | March 10, 2021

    For generations, people have begun their homeowner experience with a “starter” home.  Part of the logic may be that by beginning with a smaller home, they can learn what it takes to run the home and discover some of the unexpected costs that come along with it.  A slightly longer view into the future could suggest... Read More

    Your Refund Could Open the Door

    By Mike Parker | March 1, 2021

    One of the silver linings to filing your income tax return is finding out that you are going to receive a refund that could literally open the door to owning a home.  If you happen to be one of these fortunate taxpayers, your next decision is what to do with it. With the average tax... Read More