** SOLD – 622 Hanale Place – Custom Executive Home **

December 1st, 2014

This home was sold on Friday January 23, 2015

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CRS November 2014 Newsletter

November 10th, 2014

Please enjoy the CRS November 2014 Newsletter!

The 2014 Holiday season will be upon us very soon.  Enjoy this wonderful time of the year with your friends and family.

 

CRS September 2014 Newsletter

September 17th, 2014

It’s been a while since I posted a newsletter, so here it is!

September 2014

Enjoy!

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Fifteen Will Get You Three

July 7th, 2014

15 vs 30.pngFreddie Mac chief economist, Frank Nothaft, says that affordability, stability and flexibility are the three reasons homebuyers overwhelmingly choose a 30 year term.  However, for those who can afford a higher payment, there are three additional reasons to choose a 15 year term: save interest, build equity and retire the debt sooner. First-time buyers have a higher tendency to use a minimum down payment and are very concerned with affordable payments.  It is understandable that the majority of these buyers select 30 year, fixed-rate mortgages. Consider a $200,000 mortgage at 30 year and 15 year terms with recent mortgage rates at 4.2% and 3.31% respectively. The payment is $433.15 less on the 30 year term but the interest rate being charged is higher.  The total interest paid by the borrower if each of the loans was retired would be almost three times more for the 30 year term. mortgage.png Another interesting thing about the 15 years mortgage is that more of the payment is going to principal than interest from the very first payment.  It would take over 13 years on the 30 year mortgage for the principal to exceed the interest allocation. Some people might suggest getting a 30 year loan and making the payments as if they were on a 15 year loan.  That would certainly accelerate amortization and save interest. The real challenge is the discipline to actually make the payments on a consistent basis if you don’t have to.  Many experts cite that one of the benefits of homeownership is a forced savings that occurs due to the amortization that is not necessarily done by renters.

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Personal Finance 2014

January 27th, 2014

You’ll need to earn $2.00 for every $1.00 you want to spend assuming you pay 50% of your earnings on income tax, social security and Medicare.  On the other hand, you get to keep 100% of every dollar you save on your personal expenses because the taxes have already been paid.

Periodically, review your expenditures with the diligence of an exuberant IRS agent on commission.  It’s an exercise that most people don’t feel they have time to do but the rewards make it entirely worthwhile.

  • Get comparative quotes on insurance – car, home, other
  • Review and compare utility providers
  • Review plans on cell phones 012714image
  • Review plans on cable TV, satellite for unused channels and packages or receivers
  • Review available discounts on property taxes
  • Consider refinancing home – lower rate, shorter term or cash out to payoff higher rate loans
  • Consider refinancing cars
  • Call credit card companies to ask for a lower rate
  • Review all of the automatic charges on your credit cards – consider no-fee cards
  • Search for late fees that are regularly being paid and eliminate them.
  • Review all bank charges for accounts and debit cards; determine if they can be reduced or eliminated.

If you don’t want to review your credit card accounts, consider reporting the cards stolen so that new numbers will be issued.  You can notify the companies that need your number.  Companies who might have your number won’t be able to automatically renew services that you may no longer be using.  You can be assured that they’ll contact you when the old number doesn’t go through and you can re-evaluate the decision at that time.