The Paseo Financial Group Congratulations! You have worked hard your entire life and have finally reached retirement. After years of paying down your mortgage, the bulk of your wealth now rests in one main asset: your home. These homeowners are often described as someone who is “equity-rich.” For senior homeowners, an important question eventually arises:…
Tag: Dollars and Sense
Features, August 2022
Dollars and Sense: How to Prepare Your House for Sale (Part 2)
The Paseo Financial Group Consider Renting a Storage Unit Almost every home shows better with less furniture. Remove pieces that block paths and walkways, and put them in storage, along with distracting artwork and empty bookcases. Removing extra leaves from your dining room table will make the room appear larger. Leave just enough furniture to showcase…
Features, July 2022
Dollars and Sense: How to Prepare Your House for Sale (Part 1)
The Paseo Financial Group Every seller wants his or her home to sell quickly and for a large profit, but it takes more than luck to make that happen. It involves careful planning and knowing how to professionally prepare your home to convince buyers to pull out their checkbooks. Here are a few steps you can…
Features, May 2022
Dollars and Sense: Americans Are on the Move—Especially Seniors!
A recent survey detailed that about 40% of Americans are thinking about a move in 2022, and most hope to buy a home in their new location. Those most likely to move are: * 62% of Generation Z (my son and future daughter-in-law just moved from California to Florida) * 53% of Millennials * 53%…
Features, April 2022
Dollars and Sense: How to Cash Out When Mortgage Rates Are Rising
The Paseo Financial Group During the last year, home prices rose, making many Americans “house rich.” By the end of the third quarter 2021, borrowers had a record $9.4 trillion in tappable home equity collectively, or an average of $178,000 per borrower. When tapping those dollars, it is best to consider your whole financial picture, including…
Features, December 2021
Dollars and Sense: 11 Home Features Today’s Buyers Want Most
Douglas Sedam Thinking about selling your house? Here are home features potential buyers are coveting. #1 Laundry room. Percentage of buyers who want this feature: 91%. More than anything else, homeowners want a room other than the guest bedroom to stack all the clean laundry in until it finally gets put away. A separate laundry room tops…
Features, November 2021
Dollars and Sense: Some Considerations When Buying a Home in Retirement
Douglas Sedam There is nothing like punching that time clock for the last time as you picture your imminent golden years—full speed ahead to sun, golf, and travel. The first few years of retirement are usually when people start thinking about downsizing and/or relocating. But in your zeal to “live the dream,” you might overlook…
Features, September 2021
Dollars and Sense: How a Cash-Out for Home Improvement Works
Melanie and Douglas Sedam Looking to make some major home improvements? Consider a cash-out refinance. Refinancing is a low-interest way to get tax-free cash for remodeling your kitchen and/or bathrooms, putting in a pool, or adding a casita. Let us look at an example. Say you bought your home for $500,000, but you now believe…
Features, June 2021
Dollars and Sense: The Importance of Getting Pre-Approved Before Writing an Offer
Doug and Melanie Sedam * Serious home buyers need to start the process in a lender’s office, not at an open house. * Most sellers on the resale market expect buyers to have a pre-approval letter and will be more willing to negotiate if you do. * All developers will want you pre-approved (and most times with their…
Features, May 2021
Dollars and Sense: Mortgage Financing and Newly Adapted Automated Underwriting Processes
Doug and Melanie Sedam We are in the midst of an extraordinary year that has seen a surprising turn in the mortgage industry. The fact that the COVID-19 pandemic has had unprecedented economic impacts does not need to be overstated. In the case of mortgage financing especially, record low rates have led to extraordinarily high…