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KMBZ>Audio & Video on Demand>>Life As You Own It 1.3.14 Segment 1

Life As You Own It 1.3.14 Segment 1

Jan 3, 2014|

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Automatically Generated Transcript (may not be 100% accurate)

Life as you -- with mark McDougal and Craig Miller. Remember you've got questions we've got answers 804924664. You may not take time to educate yourself up -- single -- investment and opportunity you have. That investment in the roof of your head in real estate we talked about your home financing making investments real estate we keep that in fact -- you know it's just good old fashion. Yeah. Happy new year life a -- that listeners Craig Miller happy -- -- -- -- -- what a great year 2014 is going to be. I think it's going to be fantastic. I'm excited and and we. Got a big show for you folks if you're -- out for the first time. Welcome -- that you -- -- 2014. Stack. Well tell our listeners what -- in store for this show. And a future shows in 2014 -- well. Like we had a big that line up of gas that we're doing right now but there's no work. Your 2014 is changed here's what you can expect when you tune into like these you -- it you know you don't a lot of stuff but the main step the big stuff. The stuff that can make or break yet your home financial plan. Your state all those kind of things we talked about don't like -- you know we wanna do is empower you the consumer the listener. May well informed decisions solely with the facts ECB money you make the right choices maximize your future's so. Gonna hear about real estate here but the minute may be your primary residence investments are real estate estate planning tax planning your overall financial plan. If that matters and it makes a big difference to your bottom line we're gonna talk about on the show out this year. This show what we're gonna talk went well New Year's resolutions are a big deal at the beginning part of the year obviously. We've got three homeowners resolutions for the new year. But just like the latest bad -- might wanna do little research before you go all in better yet to state -- do homework for -- have you ever ever done this fat -- never -- you know analysts say this -- I tried Atkins -- years ago for just a weaker due to see what it was all about -- I mean sometimes a protein eater anyways that it really. -- and yet you know I got to admit it it's kind of today shows a little bit different than most and it reminds me of back and -- and collagen die in high school when their rice -- to be pretty girls on the sideline watching me. And perform athletic endeavors and those things and today. Though there's nothing athletic about the shot to. Other than you know uttered you know we may arm wrestler case that we are graced by the presence of a very beautiful young lady had a good athlete too and she got halfway Elizabeth Miller what do. Beautiful girl you have cracked yeah and so it's a sad time. -- how bad that needs to be these this the spokes voice spokes model for like as you audit 2014. Liz Elizabeth Miller Elizabeth Miller seemed to be nine years old February 20 she'll turn nine she's had. She's into gymnastics and dancing in those kind of things and she's great swimmer. All -- like it -- dollar yet she is sit on the show today and it's kind of fun we don't often have. Such beautiful young lady says sit in here if we did we'd probably be in trouble with the wives that's right. Of course ideally they'd -- over the age of nine and the threat for a certain kind of person that is a guaranteed fact OK okay. Right so in the course of the year we hope to make sure we hope to help you become more educated consumer. Well -- bring it home. No pun intended that big investment you're gonna make -- the root folder and let your redshirt when your owner whatever your case may be for you were to try to help make sure you. Make -- homeownership parts of your financial planning gosh we're gonna make sure you get a financial plan. So what else is in store for you today we want to -- wanna sell your house passed. And for top dollar or what do you think would happen your chances of achieving both those goals. If you had a staged perfectly. Just the bright colors. -- -- the right talent you ready all the what do you think would happen if cookies so he asked herself for more sounds like maybe it will see William might be surprised to hear the answers other recent study. Also what's your what's your target retirement age prank I need to know -- of moderates in mind as a a year before you. You now. Probably for -- is gonna be pollution in the seven year range. I don't how how do you think that stacks up with your peers will stay tuned later we've got the results of a money magazine poll. Where over 5000 people responded and said when may anticipated their retirement years would. The also speaking of retirement what are those affordable second -- Easter consideration. What is second secret I have no idea mark want to -- hint it's not comedy club. All right you know you have -- -- has stated -- I don't know I really don't and if you're delinquent on your mortgage payments the housing recovery might not be good news for you. All he can run away from your mortgage spanky do you have options though if you're willing and able to put in the effort to keep your. All those of you that are behind on the mortgage -- are are almost are struggling to make ends meet. You wanna hear this part of the show and finally we got the cool tool of the week you know it's not Craig it's a rent vs buy calculator that that. Really puts an almost all the variables. You would need to make an informed. Educated decision. Sell what -- stated. All kinds of the candidates already -- should use it or should you go folks if your regular listener you know the drill with your first -- well here's what we do. We hear the music playing around and give -- a question. That question is from one of our real listeners via email or by calling with their question 800 point 24664. Emailing. Questions like -- you wanted dot com. When we need to know. Your current situation it can be a current mortgage balance -- and we also need the appraised value to house -- interest -- talent you think you can be in the house and the term of the loan at. And we will tell you if you should stay or should you go or you could tell us your rent situation amateur pain and rent how much you think -- can afford an housing payment. And how much you need. Bedrooms bathrooms etc. to meet your families need we'll tell you she keep unwritten or if you should buy that house and vice Versa. Back in so much more on the should he stay or should you get so let's jump into -- Greg -- in with that let's jump in. Renee in Overland Park, Kansas you know the -- question -- summer home and by a larger home. We need to spend about 25000 non cosmetic things to make the current home as appealing as possible. The problem is if we spend that money we won't be able to put 20% down. Especially if we don't recover all of the 25000 are selling price that we would put in to the old house should we sell as it is and hang on to our money. Or do -- the enhancements. Well I suspect this is good enough when stared out the top state for now with arsenic in the. That it is here's an -- say in this market right now we don't have as many homes for sale. As some people like now we'll say mark's always had people lacked vision and have a hard time walking into a project and seeing the finished result may be hard for them and envisioned. What they would you know -- how nice your -- -- look if they spent that money. But. -- I would say is to try to -- your house first awaits at -- hell you do in on your cash just in case and if you need to spend a minute it is sold. You to console somebody to really to -- derided by so we should or shouldn't do the priest in the money. And wrong answer. -- NI and then there are right folks here that I suggest you do. Did a professional real state consultation see if we are in -- fall in there. Yeah I didn't know what I only -- -- -- -- said Israel is the beginning of the year and we're raising the bar -- -- -- -- at the tail -- right so -- -- Professional real -- consultation if it's gonna give you the dollars you need to make it happen. Do exactly what Craig said in his halfway answered quite an attack back at his half half answered question a case is that -- which considers a lady. There are 22 ladies. Our producer engineer and Elizabeth if not all right so. Move on down the road and ran out -- about what else we offer every single week our listeners and interest rates hey you know what I wanna shout out to Ohio shout out to Columbus, Ohio. Buckeye State and Columbus home of the Ohio State Buckeyes this is our this is our inaugural weekend. On -- three. Powerful station W. LOH thirteen twenty WLH 104 point five and WL OH 99 point three. That's Lancaster Columbus, Ohio Logan Ohio all cover that. -- life as you own it we're excited. To be in your neighborhood and we wanna be your go to source. For all things related to your overall financial picture so let's check this out and tell your friends tell your family. And call up Kayla wage and -- LO agency. Thank you. Finally for getting as the entertainment and information that we -- deserve to richly -- right that you -- shout for our new friends in Ohio are right. Oh look at that. There's your fights on there's about I can I get that are in honor of our three new affiliates folks -- that takes a list we just began the syndication of our show. At the end of last year and we are already up over we're at 31 is that the 3130 Wednesday and down our goal is 100 by the end of 2013. I mean I think he. -- are we miss our ability apparently recede and you could help was accomplished that goal if you do you're gonna get prize. To be announced private -- Anthony that's right -- big secret all right professor Mike priest Michael Siler -- -- at William and Mary the College of William and -- to the followed study about staging -- researchers took 820 homebuyers through one of six virtual tourism homes that varied and furnishings and wall colors respondents then raided their impressions of the house and said what they would be willing to pay for it. The findings were. They pay the exact same amount for all six houses you know I gave the advice what does that say about today -- Up we're elaborate a little more when we come back this is likely you own it stay tuned also. The trend in interest rates -- an update yet. Our friends we are back life as you own it. And we're bringing you the rest. Of the story here throughout throws the show mentioned as the opening the show what you can expect this episode -- what should tune in every week we -- need a podcast show. If you cannot catch up with -- us where we hear in your city so. We're going on with interest rates we talked before the break actually know marking to finish -- you're mentioning elevate people we took the break we talked about staging and can't staging. In my opinion. I think the most important part of staging. You know most technically she is getting the crap out of your house. -- so is on clutter is the number one thing you've got to deal with that this study. That you know. Would give some indication. That. That the price one would pay. Is the same regardless of the color regardless of the furniture -- and or quality. The piece it doesn't cover is if your house with self faster. On the -- part of it is that respondents also believe but believe that other buyers would pay. About three point 7%. More. To report 74% -- -- -- steamy walk in saving I had opinion on his. Watched him go you not only pay acts but I think -- people it but everybody -- everybody said the general. You know. Audience said it will pay -- which is tool for now with no variants over that the six different laden types and furnishings -- set herself. I will tell -- let's -- we will we'll have a point counterpoint with -- eight professionals danger one of these days and we'll see if they can refute. This study -- I think it is instinct but remember folks number one tip we give -- is the clutter rise all right Craig interest rates I think -- -- went down the side ways and what does that mean to -- listening on -- I would say that they are definitely side ways for now though. Books every week on like these you -- you can expect us to bring you the national average for interest rates over the past week also share with you where they were the week before that. And may be. Opine whether we think they're going -- down with the trend is now the market is gonna be little more volatile 2014. Than two dozen thirteen in my opinion. I think we're gonna see interest rates rise. And they'll rise ever so slightly probably in stair steps along the way where they pop up just touch stay stable for a short period time. Pop up in little bit stay stable I do not think we're gonna see big dips and big increases. We're not gonna see that camera or Coastr. But I you need to know what's going on the -- to pay attention when you tune in the show are we -- get an update watch out for the advertisements out there watch out for people saying -- -- Are down to record lows again or anything like that. Mean it's there's always someone used to some type of an angle to make their phone -- or create opportunities for themselves the EU. You know I have to offer does Unix as you'll have the actual facts in your hand all right thirty year fixed rates again folks national average. Is based on a 200000 dollar loan amount. But 20% equity in perfect credit. So obviously if you were scenario varies from that could affect this also these are general guidelines he's the average -- people -- Pain when it's all said and done after associated points and all those kind of things. It's interesting to note that the points that people have been paying on average has stayed very consistent. Over the past four to six weeks. Which is right at one point 1% of the loan amount as -- appointed so one point on 2002000. Dollars. And that is being either -- -- charts Navarro up front that's what you need to pay close attention to as well as the additional closing costs remember. The fees and costs that you -- completed transaction on mortgage. Our money spent out the window -- year old at the financing pay in a pocket regardless it's gone. It's on that day if you saw the home six months later he didn't save enough on the interest. In six months to recover those -- she did not -- costume and -- transaction you need to know your short long term goals and plans are. As you apply that information to your decision making pertained to refinance loan or other type of mortgage situation. Our thirty year fixed four point 55 vs four point 56 with pretty much flat folks. For the past couple weeks fifteen years 3.5 four vs three point fighting a slight improvement. But that's something you'd probably see show up in the rate quote you would have gotten over the last few weeks. Five year arms at the thirty -- -- amortized loan the rate is fixed for five years and then goes into an adjustment period after five years where the rate go up or down. Those errors -- point 73 -- what three point 73 again completely flat over the last few weeks. And thirty year FHA 34 point three numbers -- point three virtually flat as well. So folks where we get with interest rates well other higher than they've been but still much lower than average over say the last 203040 years so. It's still a great time to take -- danger refinancing if you can save money too great time to buy a home home prices are still at modest levels the -- showed some signs of increasing. In some markets increased significantly. But still. At a better price than you would have probably paid five or six years ago so it's important to do the math make the decisions based upon math and emotion. And have your facts straight watch those fees and costs folks always watched the fees and costs and please check likely you -- dot com. At a break even formula that you can apply to your scenario to know whether you will break even or how long -- take -- breakeven. On this closing cost vs the interest rate we always recommend comparing to zero cost very low cost. Loan options vs paying more in fees for slightly lower rate paid attention of that match. If so much opportunity to be an educated consumer by working with someone they can guide you through it. Make sure you -- with a certified mortgage planner and you can work with. You might -- work with a rock star himself Craig Miller. Or one of the certified explaining specialists at first trust mortgage if you so desire when I think you get some fantastic advice. And you'll get the lowest cost and the best structure for your loan. Hands down trend that's that's good tip for the week -- -- that a OK so on down the road that. Let's seat Craig you know what did you make any New Year's resolutions. I did make -- couple resolution chairman are our friends. Yes I can't help will. -- I have I have some goals with with regard to use the amount of giving that I'd like to -- this year toward charities that I believe in her cause I believe in right and then have some fitness goals I try to stay. In relatively good shape as it is but as some sort tackles. Exactly. It's -- I thought I am I have some basic goals are not that I extreme their their goals that I can accomplish so. Those -- the main basic ones and Miami and then. I wanna spend at least who once a month each one of my kids just the one on one. Date night hyper it's the boys it won't be date and be more than buddy. Hang up -- -- order but I wanna spend the law once and that's hard to more kids I've accumulated over the years if there's one on one times but. That's important thing for me so. It's a good one. And and it's always after the holidays when we ideally get dispensed a little more time -- kids without the eruption of work Newton does a lot harder going back to work GUT. Get a real feel for the value that time you've spent that's looked so why a -- I I have one it's to be better friend deal. That's yet -- SO and part of that commitment is even on the days. I'm gonna tell your handsome even when the days that you're not -- you and me tell you pick your -- even on the days you're not which is most of -- this. Did it at the items I have some I have there are there and it on thick as me on the Internet makes you better friend -- any better and a better husband and -- better parent. As in general and I've got some specifics of that that's that's my goal in life. -- what's the decision. -- stingy stay or should you go all right Eddie in Clinton Missouri asks the following question what is the best type -- -- for second home. Slash lake house ready just in that time primarily casket a deal on one. Glad to put a lot of money down is harder to buy second homes that are primary home. And finally is that why is -- lake houses in today's economy. And again and he wants a lake house I'm thinking he does something good and you need to give as. Yeah did we need to become friends -- -- -- depending on the finally you talked long enough Fast -- should he stay or go mark. He should go regulate just not time to get that lake house with -- I just easy to go go get your lake house Y -- because now -- of anti. To time in most markets remember real estate is its local folks so make sure if it's Cinemark. To get a great deal a second home cause the housing market and in general has been soft for a number of years even though we're seeing nice appreciation we're not seeing as much in that second a second home markets yet -- probably get a great deal. Com and also. You need to make sure that you are why is about this plan. So make sure fits in your budget make sure that it's a great long term investment and understand the overall cost there are some pros and cons owning a second home so. The lifestyle components aren't all they're cracked up to beat you don't really do the -- on it. And the budgetary pieces are the most important part of any investment like -- -- do those in ED does they fall line. Go go go what do you think -- I think you're right I think the eighteen years specific questions as well lady. -- -- a lot of money download depends only consider lobbied -- to put more rain down and if you were buying a primary residence these days 20% down. Is the norm when you're buying a second home rather than. The 5% down in fact in the past -- put nothing -- -- by -- don't you have to put money down. As far as -- best let alone goes fixed rate typically is what people do because they wanna make sure. But there's not any surprises with that second homes -- fluctuations in payment. But I usually recommend people do it longer term like thirty year fixed rate. And lastly. Is it harder not necessarily harder but -- requirement for your debt to income ratio in a down payment are little bit stricter. -- Craig when we come back or are we talking about those New Year's resolution is that homeowners. Probably made the most popular ones that we're gonna tell it would debunks the myths about those resolutions so what you want to stay tuned like this you won't --