Jessica's Real Estate Blog

https://www.linkedin.com/pulse/housing-data-worth-thousand-words-jessica-caldwell-wbj4e

Housing Data Worth a Thousand Words For years the housing un-affordabilty crisis has puzzled me. As a Real Estate Agent who holds myself to high standards of integrity, I've watched it unfolding and I've had to advise some clients, based on their financial goals, that it wasn't in their best interest to sell.

Anyone looking for a great home in a golf course community, in Pennsylvania. Access to Lake Wallenpaupack call in or message me to set up a viewing.

103 West Pine Lane

Come See 37 Hathorn Blvd Port Jervis, NY 12771
* 3 Beds 2 Baths
* $4,000 Taxes
* Minisink School District
* Perfect Starter or Downsize Home
* Asking $325,000
* I Don't Own Rights To The Music *

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https://fortune.com/2024/08/21/40-year-mortgage-new-american-standard-john-hope-bryant/

The democratic party is against americans building wealth. . . Hear me out before you react!
I've been a real estate agent since 2014 and have a knack for economics and common sense. At first glance many may believe these types of proposals are aimed at helping the american public achieve wealth but let's dive a little deeper.

Look at any bank mtg rate sheet and we can see shorter term loans have the lower interest rates. Currently 15 yr loans start above 5% and 30 yr loans are over 6% of course those are starting points and creditworthiness determines your true rate. Of course a 40 yr payment would be higher than a 30 yr but I'm feeling generous here so lets assume you could get a 40 yr mortgage for 5%. The avg. Home cost in the us for an average home is $350,000

A 5% interest payment works out to approximately $17,500/yr in interest payments thats a $1,458/month payment (For Interest) now take that 350,000 and divide it by 40 yrs. $8,750 and divide by 12 months that's $729/month that needs to be paid in order to pay that principal balance off in 40 yrs. Together that's a $2,187.16 payment /month before taxes and insurance. So out of a total of $26,246 paid yrly toward that loan not factoring in taxes and insurance cost, only $8,750 is applied toward the actual loan.

Over the course of 40 yrs that $350,000 loan costs you $1,049,840 that's 3x the purchase price. Don't forget you still have to pay property & school tax. Homeowners Insurance. Principal mortgage insurance and be ready for any maintenance issues that arise in order to retain good value for the property. Please be careful of these gimmicks.

This is not to deter anyone from purchasing a home, i simply believe there are too many people who fall into these traps thinking they're getting a good deal but its rather raw

I have a hidden talent for financial consulting and if you need help determining where you're at and what avenues to consider when trying to set or achieve new goals, you can reach out to me. I'm working on getting that business underway to compliment my Real Estate Service

Forget the 30-year mortgage: The 40-year mortgage needs to become the new American standard, CEO says “Today, with life expectancy nearing 80 years, a 40-year term aligns better with modern realities,” Operation Hope’s John Hope Bryant wrote.

Saw this awesome post about cleaning your space.

THE TOXINS OF THE HOUSE ARE:
1. Objects You No Longer Use.
2. Clothes You Don't Like Or Haven't Used In A While. Damaged underwear.
3. Broken Things.
4. Old cards and notes.
5. Plants that are dead or sick.
6. Receipts and Old Magazines.
9. Shoes Broke.
7. Stuff of all kinds calling the past.
8. If you have children, toys that are not used, that do not work or broken.
WITH CLEANING THEM OUT:
1. Health gets better.
2. Creativity grows.
3. Relationships get better.
4. There is greater reasoning capacity.
5? Improved mood.
QUESTIONS THAT MIGHT HELP CLEANSING:
- Why am I saving that?
- Is it about me today?
- How will I feel if I release that?
Separate and classify:
1. To donate.
2. To throw.
3. To sell.
INSIDE CLEANING REFLECTED OUTSIDE.
1. Avoid extreme noises.
2. Less strong lights.
3. Less saturated colors.
4. Less chemical odors.
5. Less sad memories.
6. Finish unfinished projects.
7. Cultivate positive energy in your home.
Do a general cleaning and use boxes for organization. Start with drawers and cabinets and conclude each piece, do everything at your pace...
a) Trash.
b) Arrangements.
c) Recycling.
d) In doubt.
e) Gifts.
(f) Donation.
g) Sell.
As you CLEANSE, watch what changes in you.
As we clean our physical house, we also place order to our mind and heart.
Practice detachment with material things that just fill your space and you'll see how you'll slowly be able to do the same with more momentous situations.
Blessed be for you always

Jessica's Real Estate Blog Navigating the complexities of home-ownership to keep your dream from becoming a nightmare.

Selling your home is more than just calling a realtor when you're ready to list. I am a valuable resource to my clients throughout the planning process. Whether you are looking to age in place, need solutions to fund your next home before you feel comfortable selling, need help sorting your items to determine what you're taking to your new place and what you're letting go of. I have the tools you need, to help you feel comfortable and informed along the way.

The home selling process | Fannie Mae Here’s what you need to know about selling your home — what to expect, what to avoid, and other tips to help.

So many questions and so much misinformation. Should you wait til July to list so you can negotiate your rate?? No rates were always supposed to be negotiable. NAR does not set rates the broker you choose does. If an agent is a atiff 6-7% and you do not want to pay that, interview someone else. You cannot go to Bentley and ask them to lower msrp because Chrysler charges less for a vehicle that looks similar.

Choose your agent based on your ability to communicate your needs and feel that your needs are acknowledged and met. I know people who have listed with prestigious agents but felt underserved so don't let that be the indicator of whom you choose. Have a question about your home? I'm happy to help and be of service. 845-699-9976

TikTok · Mjwhomes 5095 likes, 930 comments. “If we want to help first time home buyers, its pretty obvious we need to tackle private equity and corporotions targeting starter homes and outbiding prospective home owners.”

The mortgage payment on a new construction is cheaper than the payment on an existing home.
Homebuilders are being competitive by offering interest rate buy downs to sell homes. The current volume of new home sales is up 3.6% from a year ago. They have 8 months of inventory supply which gives them the leverage needed to cut the bottom line profit with the loss mortgage rate buy downs.
The average homeowner does not have this same leverage and the gap in sales price between new homes and existing homes is closing in. Existing home prices must start coming down in order to remain competitive.

Prices of New Houses v. Prices of Existing Houses: Why Sales of New Houses Hang in there as Sales of Existing Houses Plunge | Wolf Street

The effects of investor buyers is more unaffordable housing for both buyers and renters.

Investors Bought 26% of the Country’s Most Affordable Homes in the Fourth Quarter—the Highest Share on Record Elevated home prices and mortgage rates, along with sluggish rents, have made low-priced homes increasingly attractive to investors