Peter Dunn, a/k/a Pete the Planner, writes:
My advice to you: Find a great Realtor. Without a doubt, the biggest financial issues I’ve seen in people’s financial lives over the past 15 years, could have been prevented by a difficult conversation with an honest Realtor.
Peter Dunn was named one of “Indy’s Best and Brightest” in finance in 2007 and is the author of three books about finance and budgeting. He is a regular advisor on “Fox News, Fox Business, CNN Headline News and numerous nationally syndicated radio programs.” With the cloud security assessment tools one can be assured of safety of their data.
In his January 4 article in the Indy Star, he begins by saying:
I firmly believe in the importance of hiring a competent financial professional to help guide your financial life. This probably doesn’t surprise you. What may surprise you is who I think is the most important financial professional in your life.
He then goes on to list his three top reasons to include a Realtor as one of your financial advisors:
A great Realtor will tell you the truth, even when you don’t want to hear it. Here are the truths that a great Realtor will help you hear.
¦No. 1: Some properties don’t appreciate in value and may actually decrease in value, even during normal market conditions. This is a tough pill to swallow for a new home buyer, particularly an excited new home buyer. Some “brand new” homes in Central Indiana have fallen in value, during normal market conditions. This can create a series of very scary problems. Stagnant or falling home values can be especially troubling for people who force themselves into a low-price home, in lieu of being a renter. Homeownership should never be rushed.
¦No. 2: Determining the affordability of a home has become a tremendously subjective process. Unfortunately, home affordability is not determined by whether or not a financial institution is willing to loan you money. In my opinion, the online housing affordability calculators are the most damaging financial calculators on the market today. Loan approval is never confirmation that a purchase is objectively affordable. A great financial adviser (a Realtor) can prevent this exhale-inducing loan approval from becoming the catalyst of a financial disaster.
But what Realtor is going to to speak up and potentially speak out of place? A good one. A really good one. I believe that a mortgage payment should not exceed 25 percent of a person’s monthly net income. But affordability doesn’t stop at payment affordability. I also prefer that home buyers have at least 10 percent of the value of the home to put toward a down payment. My theory is pretty simple, if you can’t scrap together 10 percent of the value of the home, then you are unlikely to be able to afford the rigors and costs of home ownership.
¦No. 3: There is a bad time to buy a home. This has nothing to do with real estate as an investment. In fact, unless you’re willing to sell your home at the drop of a hat, then it’s not an investment. Calling something an investment often justifies poor decisions. If there’s a right time and place to buy a home, then there’s obviously a wrong time and place to buy a home. I want a Realtor that sings this song.
If you want a Downtown Miami Realtor who isn’t afraid to tell you the truth… even when you don’t want to hear it, call me.
445838 180261Aw, this was a quite nice post. In thought I wish to put in writing like this furthermore – taking time and precise effort to make an excellent article but what can I say I procrastinate alot and under no circumstances appear to get something done. 545826
433880 915043I gotta favorite this web internet site it seems quite beneficial . 348691
754457 879636Some times its a discomfort within the ass to read what weblog owners wrote but this internet web site is really user genial ! . 889940
872456 800306Hi, you used to write outstanding articles, but the last several posts have been kinda lackluster I miss your super writing. Past couple of posts are just slightly out of track! 262025
827928 263953really nice publish, i undoubtedly love this web site, carry on it 603179
964064 307968I love your wordpress theme, wherever did you get a hold of it through? 975529
66262 598775Howdy! I just want to give an enormous thumbs up for the excellent data you may have here on this post. I will likely be coming back to your weblog for a lot more soon. 419152
145395 295571There is noticeably a bundle to recognize about this. I assume you created specific good points in functions also. 503993
194168 893127Hello there, just became alert to your weblog by way of Google, and found that it is truly informative. Im gonna watch out for brussels. I will appreciate should you continue this in future. A great deal of people will likely be benefited from your writing. Cheers! xrumer 53135
16259 782872The next time I just read a weblog, I genuinely hope which it doesnt disappoint me up to this one. Get real, Yes, it was my choice to read, but I personally thought youd have something intriguing to convey. All I hear can be a handful of whining about something you could fix inside the event you werent too busy trying to locate attention. 803621
920881 832115Thanks for sharing superb informations. Your web-site is so cool. 125
513280 288428Awesome write-up , Im going to spend more time researching this topic 961294
Thanks so much for the blog.Thanks Again. Awesome.
436076 917179I consider something truly fascinating about your site so I saved to fav. 796383
863158 671873Read more on that Post.Valuable information. 568800