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    Compare Before Deciding on the Standard Deduction

    By Mike Parker | February 7, 2023

    The TCJA of 2019 dramatically increased the standard deduction so that many homeowners benefit from taking that rather than itemizing their deductions.  Taking the standard deduction may result in a larger deduction even if you have no expenses that qualify for claiming itemized deductions. Another thing that made reinforced that was interest rates for mortgages were... Read More

    Negotiate a Buydown to Get Into a Home Now

    By Mike Parker | January 29, 2023

    If you are a prospective homebuyer, things have changed in the past year.  Most notably, mortgage rates have more than doubled which has created an affordability gap that has taken approximately 15 million buyers out of the market. Inventories are growing but it isn’t because more people are deciding to sell their homes; it is because... Read More

    If You’re On the Sidelines At Least Get Ready

    By Mike Parker | January 23, 2023

    If you’re on the sidelines to buy a home, there are things you can do to be ready when you do get back in the game. Improve your credit score to qualify for the best mortgage rate available which are reserved for those with the highest scores.  Get a copy of your current credit reports from... Read More

    Negotiating Your Position

    By Mike Parker | January 17, 2023

    The seller wants the most for their home and the buyer wants to pay the least possible.  From the very beginning of the homebuying process, there are adversarial positions between the principals.  If you happen to be in a multi-offer situation, it just complicates things further. Then, there are the emotions that tend to cloud the decision... Read More

    Turn Back Time

    By Mike Parker | January 10, 2023

    As the expression goes, “if I could turn back time”, maybe you’d would do some things differently.  If you’re wanting to buy a home, the regret may come from not getting a mortgage when rates were half of what they are today.  There may not be a way to literally “turn back time” but you... Read More

    Buy Now, Refinance Later

    By Mike Parker | January 4, 2023

    The dilemma facing would-be buyers today is to wait until things settle down or move ahead in this unsettling economic environment.  More specifically, the question should be, what are you waiting to settle down: mortgage rates, or prices or both? Mortgage rates haven’t been this high since 2002, so it could be considered plausible that the... Read More

    Does High Inflation Discourage Your From Buying a Home?

    By Mike Parker | December 28, 2022

    Inflation devalues the purchasing power of money and the interest earned on savings is almost always less than inflation.  Tangible assets like your home consistently become more valuable over time.  In inflationary periods, a home is a good investment and a hedge against inflation. Borrowing money at fixed rates during times of inflation can be very advantageous…like... Read More

    Did You Know This About Your Credit?

    By Mike Parker | December 20, 2022

    Credit scores are used to assess risk and determine whether a borrower is approved or declined for a mortgage, credit card or some other type of credit.  The score is a numerical value ranging from a low of zero to a high of 850 or 900 depending on the credit bureau. The higher the score, the... Read More

    Waiting For the Mortgage Rates to Come Down

    By Mike Parker | December 13, 2022

    Waiting for the mortgage rates to come down before you buy a home may not be a good decision. If you are correct, and the rates do come down by two percent, the savings you benefit from a lower rate will most likely be devoured by the appreciated price increase. As of 12/8/22, the 30-year... Read More

    Downsizing Options

    By Mike Parker | December 6, 2022

    Opportunities exist for a subset of homeowners, possibly in their 60’s to 70’s, who want to downsize to smaller homes for convenience, less maintenance, change of lifestyle, or to save money.  These homeowners are more likely to have large equities and will not feel the same constraints that are keeping younger owners in their homes due... Read More