Category Archives: Personal Finance

Money Monday: Vacant homes are costly

Listing your home for sale? Don’t move out beforehand!

Vacant homes tend to both sell for less money, and spend more time on the market.

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

Money Monday: Understand credit score’s impact before buying a home

If you’re thinking of buying in the next few years, it pays to start thinking about — and building up — your credit score now.

mortgage rates and property taxes

Because having a mortgage is, for many people, the largest loan they attain. Read all of Forbes’ advice here: “Ready To Buy A Home? Understand The Impact Of Your Credit Score First.”

Money Monday: Benefits of homeownership

Fellow Americans were polled on what they considered the most important benefit of homeownership.

At the biggest percentage, 43% felt that individual stability and security was the most important benefit of owning a home.

Read the infographic below to see what other ranked as the best reason to own a home:

Money Monday: Four Creative Ways To Teach Kids About Finance

personal finance

“When most parents think about teaching finance to their kids, they may imagine a structured, sit down lesson on budgeting – which sounds like torture to all involved. Not only will your child be bored to death, but they won’t retain this type of information because it doesn’t mean anything to them at this point. Whether it’s finance, science or history – kids learn best when they are engaged and having fun. Creative methods of teaching make the information more interesting and relevant to kids, leading to better focus and retention of information in the long term.” (Forbes. “Four Creative Ways To Teach Kids About Finance.”
https://www.forbes.com/sites/lizfrazierpeck/2019/06/10/four-creative-ways-to-teach-kids-about-finance/#3eefb28031a8)

Read more here: “Four Creative Ways To Teach Kids About Finance”.

Money Monday: Homebuyers save as interest rates decline

Last week, 53.5% of borrowers received rates under 4.25%

“Mortgage borrowers who shopped around last week could’ve saved $42,137 over the life of a $300,000 loan, according to LendingTree’s Mortgage Rate Competition Index.” (Housing Wire. https://www.housingwire.com/articles/49318-americas-homebuyers-are-saving-big-as-interest-rates-continue-to-decline)Read more.

Money Monday: Staged homes sell best and bring more money

Selling your home? Stage it first!

In this culture of picture-perfect everything, staging a home (and taking quality photos) is the best way to attract attention to your abode for sell.

Money Monday: Real estate sales and price report for April 2019

The latest report on the California real estate market from the CALIFORNIA ASSOCIATION OF REALTORS

According to CAR.org:

  • The average price for single family home sales was $396,760
  • In April, it took 3 – 4 months to sell a home
  • Sales remained stagnant in April 2019
  • Interest rates delined
  • The state median price reached an all-time high; however the price growth has slowed

More information on CAR.org.

Money Monday: Home construction loans

How does a home construction loan work?

home construction loans

“Whether it’s to renovate a kitchen, tear out a wall or two to expand a room, or add on to the property, when deciding on a home upgrade…The most common way to secure funds for upgrading a home is to tap into its equity, or accumulated market value.” (BHHS California blog. “How Does a Home Construction Loan Work?” 15 August 2018.)

Read about home construction loans on BHHS’s blog here.