Real Estate
Goal Progress: Update #54, August 2020
It’s been 54 months since we set a goal to pay off the mortgage (on our condo) and to have a net worth of at least $1M by 2020. This is the 54th update on the progress of the goal. If you’re wondering why we set this goal, click here. The past month has been a blur. Work, kids, … Read more
Tips for Buying a House in a Seller’s Market
It’s a strong seller’s market here in northern Virginia. The supply is low, and interest rates are also at historic lows, with rates hovering around 2.5% on a 30-yr fixed. With demand for houses being so high, bidding wars and multiple offer situations are much more common these days. Related Post: Homebuying 101: A Quick … Read more
How Long Does It Take to Close on a House?
You’ve made an offer on a house, and it’s been accepted. Congratulations! You are now “under contract” to purchase a house. But when can get you get the keys and actually move in? In other words, “How long does it take to close on a house?” According to realtor.com, a recent study found it now … Read more
Dave Ramsey’s Guidelines for Buying a House
Thinking about buying a house or already own one? See if you meet Dave’s guidelines for buying. If you don’t know who Dave Ramsey is, you can read a little more about him here. His book The Total Money Makeover drastically changed my financial life and shaped how I view and handle my personal finances today. Related: Where … Read more
Is it Cheaper to Rent or Buy?
This is a guest post by Jennifer Riner. Jen Riner is a real estate marketing professional whose work has been featured on Hot Pads, Forbes, Inman News, and more. After four years of steady annual increases, rent prices decelerated in the last year. Although tenants across the nation can breathe a collective sigh of relief in … Read more
Are Condo Fees A Waste Of Money? A Defense of Condo Fees
“Oh, I’ll never buy a condo! Condo fees are such a waste of money!” In my four years as a licensed realtor in Virginia, I’ve heard this many, many times from both friends and clients. Many people rule out condos from their search because they say condo fees are like throwing money away. I agree … Read more
How Much Does a 1% Difference in a Mortgage Rate Make?
Homes have been flying off the market because the supply is so low and buyers greatly outnumber sellers in most markets. Many people are jumping into the market in hopes of becoming a homeowner before mortgage rates rise. Let’s say rates do rise a full 1 percent by the end of the year. How much … Read more
Homebuying 101: A Quick Guide For First-Time Homebuyers
Buying a home can be a daunting process. For first-time homebuyers, buying a home is typically the biggest financial decision they have ever made. My goal for this post is to provide a brief but clear picture of the homebuying process. I am a licensed realtor in Virginia. Some steps may be slightly different in other … Read more
Should You Rent Or Buy? Thoughts From A Realtor
“Should I rent or buy?” As a realtor, I get asked some form of this question often enough from people in my age group (late 20s / early 30s) that I thought I should address it in a blog post. Many people feel that renting is like throwing away money or paying someone else’s mortgage for them. … Read more