Although interest rates can significantly affect the amount a buyer can afford to spend on a home, the changes in the home-buying market can help even out the mortgage rate increases.

Let’s consider a home listed at $400,000. Six months ago, that home likely would have sold for $450,000, and the monthly payment for its 30-year fixed mortgage at 4.5% would have been $2,280. Today, that home might close at $375,000, and the monthly payment at 6.5% would be $2,370, less than $100 more per month. As home prices moderate, the final price difference between a few months ago and now can be much less than you might assume. 

Nothing good in life is FREE. Have you ever heard the saying, there is no such thing as a free lunch? 

The same is true in the world of mortgages. All loans have upfront costs...some are higher than others. And Home Equity Conversion Mortgages (HECMs) are no different.

I have heard this concern from clients and financial advisors. They are worried about the cost of a HECM. But like I said, nothing GOOD in life is FREE. 

More important than the cost, is the WHY? Let’s evaluate the benefits to decide it the costs are worth the benefits for your situation. Is this the right program for you? Do the benefits outweigh the up front costs? What if we roll them into the loan so you do not have any out of pocket costs?

Can we actually put a cost on our peace of mind?

Learn more HERE.

Buyers have more than rising prices to be concerned with when buying a home. More and more seller has audio and video surveillance. 

In a recent poll, 30% of sellers have admitted to using cameras to listen and watch buyers. It's doubled in the last three years. 

In 2020, 8 million video doorbells were purchased. Another 53% have what's called a smart speaker which allows them to listen in with just their cell phones. 

In the State of Colorado, it is advised that if a seller has a camera or ability to listen they let the potential buyers know. Agents should put this in the showing remarks, but to go one step further, sellers should put a note on the door that says  "Audio/Video Surveillance in Use." That's one way to cover yourself as a seller. 

It's that time of year again. The time of year when all of us ole' taxpayers must provide 1099's to people we've paid $600 or more to for tax reporting purposes. In case you aren't aware....there's a really affordable place to do this...all online. Visit Track 1099. They only cost like $3 each to do and they will send it via email to the recipient or you can print and mail. They even send what's needed to the good ole IRS.