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DIY Moving Tips

Are you moving this summer? My wife and I have moved a lot, and if a move is on your horizon, I’ve got a few tips for you. Start decluttering now! You’ll have less to pack and move. Go through each room of your home and decide what to keep. Then sell, donate or trash […]

GAP Clause in Real Estate

Are you familiar with the ‘GAP clause’ in real estate? When home prices accelerate quickly, appraisals may not reflect current values. An appraisal gap clause is an addendum to a contract. It confirms that the buyer will cover any difference between a home’s appraised value and their offer. It gives sellers comfort in knowing a […]

Retiring With a Mortgage? Part 2

Are you retiring with a mortgage?  More and more people retire with a mortgage. 30 years ago, only 24% of homeowners age 65-79 and only 3% of those over age 80 had outstanding mortgages, home equity loans, or home equity lines of credit. The median balance for those 65-79 was only $16,000. Those age 80 […]

Retiring With a Mortgage?

Are you thinking about retiring? Many people retire with a mortgage. Low mortgage rates, recent refinancing, or lack of resources to pay off the debt are several reasons why. A Harvard University study found that nearly half of all homeowners aged 65-79 carried mortgage debt with a median balance of $77,000. Now 1/4th of households […]

Mortgage in Retirement?

I was recently asked if  it is wrong to carry a mortgage into retirement  Carrying a mortgage depends on your situation. Many homeowners suffered during the Great Recession. Over 1 1/2 million homes went into foreclosure in the first half of 2010. Those who owned their homes avoided that pain. When a home is paid […]

Should I Buy a House Now?

Are you wondering if you should buy a house?  One of Crown’s employees and her husband tried to buy a home a couple of months ago. They made an offer, but the house sold to someone who offered 18% over the asking price! Before making an offer, answer these questions: • Are you financially stable […]

Solo Home Buyers

Want to buy a home? Bank of America recently surveyed potential home buyers. Results show that singles don’t want to delay purchasing a home. A majority of single women surveyed want to buy a home before they marry. In fact, 9 out of 10 think the idea of being married before owning a home is […]

Savings Day – Prep for Higher Property Taxes

Do you own your home? Homeowners have to pay property taxes. It’s the largest source of state and local government tax revenue. They vary widely by location. New Jersey and Illinois carry the highest property tax rates in the nation. My property tax bill has been the same for eight straight years. However, I’m bracing […]

Evacuation Preparation

If you only had 15 minutes to evacuate your home, would you be ready? Many have experienced voluntary evacuations, but I wonder how many of us are prepared for a mandatory one? It’s worth spending some time on this topic. An evacuation box could spare you from panicking – and possibly save lives. A number […]

Cash-out Mortgage Refi’s are Back

Considering a cash-out refi? Bankrate.com says homeowners pulled $70 billion in equity from their homes in cash-out refinances in the third quarter 2021. It was the highest rate in over 14 years. Higher home values reflected lower loan-to-value ratios. It’s led to the lowest total market leverage ever recorded – the average borrower’s mortgage debt […]

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