As a service to our clients, the Fox Team, works hard to stay abreast of the realities of current trends in the real estate market. Although there have been numerous scary stories regarding the difficulty of selling a home in today’s market as well as the implosion of the subprime mortgage market, today’s market offers opportunities for the astute buyer that haven’t been
available in several years. For those who are willing to buck the trend, there are currently some excellent buys available, interest rates remain at historical lows and sellers are more willing to negotiate than they have been in months.
As the article on the reverse side points out, the pendulum has swung to favor the buyer in today’s market. What does this mean to you? Have you thought you have been priced out of the market and could never own you own home? Things have changed, and today you may be surprised at how much your dollars will buy. Do you own your home, but would like to move into your dream home? You might be surprised at how little that dream home may cost today. Have you thought about owning real estate to help finance long term goals—college for the kids? Retirement? An income stream? Today’s homes are poised to be more attainable for many different reasons than they have been for several years. Whether you, or someone you know, has had thoughts along these lines, we’d love to help you explore the possibilities. For a confidential conversation, feel free to give us a call. We’d be happy to help.
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September 28, 2007 - 5:20 am
Regardless of what you hear in the news, today’s local real estate market offers a variety of opportunities to build wealth and realize long-term investment goals. The following are some windows that are currently open:
- Retirement Investments: By owning real estate as part of your overall investment portfolio, you can realize much of your retirement being funded by others. Tax advantages and appreciation can be maximized to be extremely effective in helping fund your retirement. If we could find you a home for a couple of hundred dollars a month, would you be interested?
- Dream Home Purchase: Are you in the market for a larger home, a home on acreage, or a home in a better neighborhood? Would you like to live on a golf course, in the mountains or in a home with a view? Would you like to be able to walk to work, have a guest house or live in a better school district? Have you ever dreamed about owning land and building your dream home? Have you ever dreamed of owing a vacation home in an exotic locale? Now is a great time to purchase an lock in the lower prices currently available.
- Additional Income: Have you thought about owning rental income property? Have you ever wanted to buy a fixer and do a complete makeover? Have you thought about owning land in a rural area? When you retire, would you like to have a monthly income stream to augment your pension?
- College Education Funding: If your children or grandchildren are young, have you thought about buying a home to fund their college educations? Would you like to be in a position to help children and/or grandchildren buy their first home?
- Tired of Making Someone Else’s House Payment?: Opportunities abound for the first-time home buyer. Interest rates are at historical lows, selection of homes on the market are at historical highs, the possibility of incentives will decrease as the market finds its balance and prices have stabilized. How long this perfect storm may last is anyone’s guess, but the opportunity for the first-time buyer is the best it has been in years.
- Buy Low and Sell High is an old adage that we’ve heard forever. However, often people do just the opposite: Buy high and sell low. Today’s real estate market is one of the best in several years for those wishing to move up, buy investment property, plan for retirement, buy their first home, or increasing their net worth. Take a look on the back of this sheet, contemplate the questions, and give us a call if we can be of help. Historically, long term real estate investments have paid off.
At Coldwell Banker’s Fox Team, we are ready to help you analyze the possibilities for your circumstances and explain how you can best use the current real estate market to your advantage. Whether adding to your investment portfolio, purchasing that dream home or just making sure your real estate investments make the most sense for you, we are ready to help! Just give us a call.
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September 28, 2007 - 5:14 am
In times of uncertainty, many of us have a tendency to look back at the “good ‘ole days” and wish we could return to better times. As we watch the volatility in the stock market, the real estate market, the price of gasoline and continuing inflation at the stores, we often wish we could live as well on less. If we truly want to feel like we are living large on whatever we currently bring in, the following ideas can help us wisely use the money we have while still being able to achieve our dreams.
- Identify a need versus a want: I need food, water, clothing, housing, a car to get to work. I want to eat at the best restaurants, to have multiple outfits for every season and every reason, to live in a mansion, and to drive the latest model …all without having to go to work! Once I’ve identified what I need, then I can more easily determine if what I want will fit into my budget.
- Analyze your spending: Track your spending for the past three months. Ask yourself which dollars satisfied a need; which dollars satisfied a want, and which expenditures might not have satisfied either. When I am bored, I tend to want new things. If I can identify that I am bored, not that I need something new, then I can maybe pick up a good book or go to the garden and distract myself from the feeling of the need to spend.
- Make up a written budget: For most people the idea of making a budget is stifling. Change your thinking to realize it really is a spending plan. David Ramsey, author of “The Total Money Makeover” says that listeners to his national call-in radio show tell him that once they’ve written a budget they feel like they’ve gotten a raise. The reason: managed money works harder. And, if you have planned for it, you can spend it!
- Pay yourself first: Think of how well off you would be if you could save 10% of your income for long-term goals, 10% of your income for shorter term goals, give 10% to charity and live on 70% of your income. While those percentages may be a bit steep for where you are, you can automatically transfer part of each paycheck to a retirement account before you get your take-home pay. For retirement save at least the equivalent of an hour a day of your income each week. And for an emergency fund, consider a salary contribution equal to 30 minutes a day each week as a good start. And when you receive raises or extra money, consider how to make it work hardest—whether dealing with a need or a want.
- Pay in cash: Whenever possible, pay in cash. When I spend cash, it hurts. This makes me aware of whether I am spending on something I need, or on something I haven’t planned. Ramsey recalls a study several years ago that showed when shoppers spend cash, they spend 12% to 18% less than when they spend with plastic because of the emotional pain.
- Exercise restraint: Call upon your will- power when it comes to spending. Do I really need this item? Is it in my spending plan?
- Dream for the future: Do you want to take that dream vacation? Do you want to get the education you never had time for before? Do you want to retire and travel, spend time with your family or spend some time in a foreign land as a missionary? Incorporate your dreams into the reason you are exercising restraint now and it will make it easier not to spend outside of your plan.
- Count you r blessings: As I focus on what I have instead of what I don’t have, I invariably and grateful that I have much more than I could have ever asked or thought. Recognizing this fact, helps me to concentrate my spending on what I truly need rather than give into the wants I don’t need. Often times, I find there is something left over to fill a need for someone else. This then becomes a blessing for me.
I only get to walk once through this world. As I incorporate these ideas into my daily living, I find that I have more than I thought I did. Incorporate an idea a month and really stick to the plan. At the end of a the year, you should realize more than you thought possible and find that you really are living well while spending less!
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September 28, 2007 - 5:09 am
While home maintenance can be seen as dull and routine, you may be motivated by the fact that well-maintained home retains a higher value than one which isn’t. Exteriors should be repainted every 5 to 10 years; depending on factors such as the weather, exterior wood damage can result. The roof and gutters need annual inspections. Water is a home’s worst enemy and a clogged or damaged gutters and drain spouts can flood the area and cause serious damage.
And the list goes on. Like taxes and dental checkups, regular home maintenance isn’t fun. But properly done, it can add value to what is likely your biggest single asset — your home.
Here’s a partial annual checklist home maintenance checklist:
- Kitchen: Check for leaks under and around the sink. Plumbing leaks can damage cabinetry and floors. Check and repair grout and caulking on tile countertops and around the sink. Also check wear and tear on wood floors, which periodically need to be refinished.
- Bathrooms: Check for plumbing leaks and check grout on tiles. Whether in the shower, sink or other areas, if the grout gets worn away water will start getting into the walls behind the surfaces, causing damage.
- Attic: Check for signs of water leakage from the roof. Also look for any sign of termites or rodents. Squirrels or rats that nest in your attic can chew electrical wiring, which can lead to fires.
- Smoke alarms: Batteries need to be changed annually.
- Heating and air conditioning system: Change all filters monthly or as recommended by the filter manufacturer. Annual checkups by a licensed HVAC professional can save heartache when the temperature is 100 or above.
- Roof: Note if any shingles have fallen off or if gutters or downspouts appear clogged or damaged. You can always hire a reliable roofing company to get on the roof and take a look. Reputable roofing companies won’t try to sell you a new one unless you really need it. You can simply pay them for an inspection.
- House exterior: If your house is wood, check that the paint hasn’t worn away so much that the primer paint is showing. If the primer also wears down, you can do damage to the wood. Brick facing and trim—and masonry fireplaces—should be inspected for damaged bricks or masonry. Check stucco houses and repair any cracks large enough to slide a nickel into.
- Asphalt and concrete driveways: Repair any cracks or buckling.
Keep up the regular maintenance on your home, and you’ll find it will pay off.
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September 28, 2007 - 4:57 am
We have used this super dip recipe from the Pampered Chef magazine for years and have always found it to
be a wonderful addition to our parties. Try it—you’ll like it!
Hot Pizza Dip (Posted by Mary Ellen)
- 1 8 oz. package cream cheese softened
- 1 teaspoon dried Italian seasoning
- 1 cup mozzarella cheese shredded
- 3/4 cup parmesan cheese
- 1 8 oz can pizza sauce
- 2 TBLS green pepper chopped
- 2 TBLS green onions sliced
Preheat oven to 350° F. Combine cream cheese and Italian seasonings. Spread in a 6 inch baking dish or pie plate.
In a small bowl, combine mozzarella and parmesan. Sprinkle 1/2 on top of the cream cheese. Spread pizza sauce over the cheese mixture. Sprinkle with remaining cheese. Top with bell pepper and green onions.
Bake for 15-18 minutes. Serve with French bread or fresh vegetable dippers.
Enjoy!
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August 29, 2007 - 9:45 am