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KMBZ>Audio & Video on Demand>>Life As You Own It 5.8.14 Segment 2

Life As You Own It 5.8.14 Segment 2

May 8, 2014|

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  1. Life As You Own It 8.27.14 Segment 2

    Audio

    Wed, 27 Aug 2014

     

    new jersey found at 1:05

    listeners is that. Those of you listening out there in Alaska and New Jersey California Texas where your -- We get these phone calls on the 800 number 800 either this town people write it down
  2. Life As You Own It 8.27.14 Segment 1

    Audio

    Wed, 27 Aug 2014

     

    mortgage rates found at 5:01

    says it has tribute to also success rates -- Nice and low interest rates are good -- interest rates go up could mortgage rates . -- going even law there watching interest rates very carefully -- -- is human need to. Now here in this week's rates with create new. There she had just friends
  3. Life As You Own It 8.27.14 Segment 3

    Audio

    Wed, 27 Aug 2014

     

    rate mortgage mortgage debts found at 4:03

    and then mortgage insurance premium is the more proper term for government sponsored mortgage insurance premiums. -- -- -- He -- home equity line of credit people were released from there the several years ago everybody had he -- now not so much but they're out they're still. How much they like credit is a second -- yearly and -- your home although can be firstly it works like a credit card except to secure with your home. Arm adjustable rate mortgage debts -- mortgage it's gonna have a fixed period and an adjustment period usually those are sixty were from three years five or seven years up to ten years. And and can adjust almost always amortized on a thirty year term. Index. In index is -- used -- calculating the the rate on adjustable rate mortgage so there's an index plus a margin. The index is usually -- but that's -- London Interbank offered rate -- -- terminology
  4. Life As You Own It 8.20.14 Segment 2

    Audio

    Thu, 21 Aug 2014

     

    tax return found at 10:28

    that I mean that's great -- if you're not report on your tax return for the last two years and we can't document potential for the future income -- To continue it's not going to be
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Automatically Generated Transcript (may not be 100% accurate)

All right friends we are back like that you own it. New car -- new homes no new clothes smell. -- closed mostly usually very beauty of the Washington. -- sometimes you always Wear your rent a -- -- a store -- -- -- aliens bit of of course if you like the smell blood than you liked that the smell of your new clothes right. Activity that's usually not -- in my -- well yeah. You know -- say though you'd pick at that new move. For yourself from -- or the other executives they'll get -- is Mother's -- weekend so you know and some of them mothers out there and in the news is probably but anyway -- park where -- -- is not his -- got to tell me -- -- -- -- -- always tell -- -- so it would it would -- with the survey tell us about the new house -- characterized all right so -- to truly American home buyers prefer new homes nearly two -- one but. -- -- only 46% are willing to pay a premium for that preference. So you agree that -- to think that's I think it's probably accurate I mean I would agree I think most people more than two to one really pray for for the new home it's just a matter of the financial expenditure piece of it and whether it makes sense what do you think it is in car so roses showing me a picture and as a sumo. Is basically a maternity dress. It's just address that a -- certainly address and product that really is just a comfortable one piece dress thing. My grandma used to Wear -- -- she's dressed him up and OK folks cola. We've got -- and mrs. -- and three's company I think used to Wear those ranches in that drag your big fan of her I like -- with other ladies -- injuries happen to -- Europe bigness is -- a guy was I was and you like -- Jack yeah like Jack and I and I like Jack stack barbecue little plug for. That's given to barbecue myself I -- -- -- your brother -- -- -- -- -- -- -- some of the amenities that they that the reason they preferred new homes were to have modern features. To be able to customize the home before construction is completed to spend less on maintenance repairs I hear you there. Delivered a home that meets modern construction standards. To be the first to live in the home into revenue redeveloped neighborhood -- other new home -- at a premium noted people -- -- pain for that new home over the existing -- similar neighborhood that's a good question -- what do they -- it looks like about 20% on -- says that 20% more than existing homes similar features and a Bosnian Muslim -- say they strongly prefer a new home though only 46%. Would be able to -- -- point percent -- percent -- if you take that might divide by two. Yes and it multiplied -- by a factor then and now it's no one buys -- thing or failed lights on the I don't know exactly anyways. So my house well it looks comes back to Allah tells you think you prefer 221. So stereo. -- and death hoaxes will tell you go through what fits in your budget what are the most important features are looking for a house. There are some really compelling reasons. Especially as -- to Trenton move towards more efficient building materials to -- to more sustainable products and if those are important you. Pressed shirt if you buy a hundred year old house there's a good chance there's some asbestos wrapped pipes down there. There's also materials used that will continue to corrode there's climate there's a lot of reasons. To consider building new and I think it's enhanced by the the materials that reason today. And if you wanna buy that established permanent nice charming neighborhood great big picture oak trees of which is nice. Get a really good. Inspector or someone who knows -- to talk to go in there really dig in and tell you hey this is the stuff you'll need to spend money over the next three to five years ten years or whatever. -- do the math figure all that out and add that to a -- -- the idiot that house and see how. Similar to his mind that new home as it does come out. Little closer and ethics -- an Alitalia and many of several these markets aren't aren't listening audience and especially at just -- all -- because they're all -- and as out on our podcast at iTunes. Or they're going to I heart radio. Or they are also going to. Where else they go on Rosa tune in radio I gotta I gotta remember tune in radio they can. They're gonna be mad at me if I keep forgetting that tune in radio. They're checking -- out there in in pretty much. All the markets but here are some. Where in the US -- the most. The the most new home construction in 2013. A number one -- rally North Carolina followed by Houston Charleston, South Carolina Austin, Texas and Charlotte, North Carolina. On -- and those are the ones that are. Booming and the ones that are are dragon behind our New York. San Francisco Detroit Los Angeles and New Haven, Connecticut so 800 largest metro areas that's where you've got the -- going on. And -- got a little bit of a lagging but bottom line is there is a nice nice. Amount of growth in new home construction that's good for the economy and done nationally we're seeing the trend of appreciation as a the housing market is. Continuing to see nice steady movement so a lot. We don't see that changing any time soon -- Craig put us you talk about why over pricing. Yet have you ever -- -- home. I haven't -- -- absolutely -- more than once really and did you did it work out well for him now -- -- -- that zealot. So -- so you know he has things have been priced right that's right okay folks well at the end of today. As you know that the biggest words in in real estate are location location location. But the reality is that matter your location if you don't have the right price. You probably be hard pressed to find the -- it's gonna take longer and actually sometimes there's a stigma associated with the longer it's on the market. Even that the negative impacts of that so let's go through the list Craig. Number one attracting unscrupulous. Real estate agents a good realtors gonna tell you what about -- -- -- tell the honest valued the should be able to sell -- in an ideal initial listing timeframe. If you go with the unscrupulous agent he says oh yeah sure we can do that. He would -- surely at your best window what's the benefit to them now when they do it there either -- -- clearly when he -- they get the listing price they're gonna get the listing which in turn means they're gonna get potential buyers that come to the house. And girls in Egypt pinned down on a contract because they're telling which one you're sure it's your turn bells and our house for 250000 dollars. He got a six month listing agreement ultimately the end up selling it for 175000. Dollars and you can't get the listing agreement. So that that's that's one of the the pitfalls what else cracked a tactic and you look you'll scare off buyers obviously I mean if people -- look looking in your area they know the market fairly well you get your price. The little too high in -- even bother to look thinking that you may be unrealistic. They don't wanna come in there and try to offer much less -- that -- move on something. It all right also if it takes too much time to sell what's gonna happen well. Probably other than your house sitting on the market for a long time people missing something is wrong with that house and your vote ultimately getting it even less. -- an offer last price for house when you ultimately -- when we come back and share the rest would be alive if you wanna state digital that. -- All right folks we are back let me you -- So as we -- discussing for the break having your home price Collison has the imaging effects. We've we've covered a few of them how much time home sits on the market I think is where we left things mark -- you're talking about. Taking too much time to sell. Few few issues are taking too much time to sell but primarily if you keep dropping your price. You know that make your home look like there's something wrong people are looking -- or not. Like -- if you drop your price. You're awesome you know to the market shifts cools off that it picks up. The longer it's on the market you're missing potential ways usually by the listings fresh news and its most activity for showings so. That's an issue it's another -- mark another one is now ultimately if it's overpriced and someone agrees to to purchase the -- right to contract on it. Well they've if they're gonna finance at -- gonna after an appraisal. And -- there's a good chance that appraisal is going to represent the accurate market value of the home. So -- good gig will be up then anyway. Because if the house there's not constant support up for a thousand dollar sales price. And it says it's -- -- it does not house you have a buyer with a lot of cash and it's in love with a -- the -- pay fifty grand more than what he supported value as. And now finally is on the potential that you would. Well if you if you -- -- price and other issue is not showing up at all for people who might be looking -- pressuring you know if your neighborhood is selling a 38390s. -- Somewhere around their. You think you being overly optimistic -- is crisis for a quarter summit and they're not even looking probably your house at all there saying well guess. Looks like about 400 atop the food chain around here -- homes it. 400 and under the -- -- Hillary and her four bedroom three bath that for 400 underwriters that for a five. If I'm not enjoy. All right you know Brokaw should you stay or should you go out. In re gay and Scottsdale Arizona emailed market cranky guys to a great job on your show every case you are. Sheldon and a scholar I feel like I get into too realistic why -- school and after listening to your show over the last five months ago about. Here's my question I -- moving overseas from my job for the next year and a half to two years depending on how long it takes to get project complete. With this in mind should -- my sell my home or -- stuff I think the people who are selling -- last right now in my area. And pocket or invest the money I have and home equity and just buy another home when I return or would it make more financial sense to rent it out while I'm gone. I know you can't predict the market perfectly but what do you think I loved the home my own so I may not find something out like as much. I have to purchase again in a couple of years -- advice. OK if I stay is is that -- tango is selling it. And go on -- sell it -- different you know all whenever I get a chance to give it to the negotiation do your vote PH so here's the deal. You could rent a house yes you could you're gonna be overseas now he and we don't have enough detail her to have to console within reach even he says you know let. I have close family members that live in this same town to check on the housing panel -- issues or whatever may be risking it might work out you don't know what the market's gonna do necessarily. We know -- overseas but if you're overseas you -- handle any major thing that comes up. He could have an insurance claim he could have something go wrong. I suggest is liquidated invest money do something like that and when you come back there's a lot of things change in life. By another -- I drink the reality is Enrique if you get let's say it's -- 100000 dollars or 200000 -- you said it's a fairly sizable amount of cash correct. I think well it sounded like -- he's not a so the opportunity for you to put that in the market investor -- overseas not overhead in -- associated include Clinton when you rent a house. They did not take care like you do try to you're gonna house summit maintenance on that house and also some -- Some clean up that set -- up for when you go to put on the market to get top dollar so even if the market continues depreciated 10% per year. Back off the expense associated with the maintenance and those kind of things you're gonna have and you look your ability to put it in the market that not the real estate market. But in them in the market and get seven and a half to two possibly 10%. Bird in hand baby yeah. I would does -- take cash it is invest abide -- and testified ends justify the word any word -- -- you're already use Internet it is just. Which would be invest diversified -- like -- -- and you call it lets your brother you -- it I'm I'm copying it was all right you're going popular. -- Act one won't won't won't won't -- -- -- market -- audacity -- one of these states you're thinking that gosh I really don't like where I live and so we've got. Some data -- this year we be about a lot of different markets and even now focused in on some of our. Some of our listening audiences so while there was those with a desire to move to a different state we go and the categories are. Whether there's a high desire to move to a different state and average amount of desire -- -- -- highest desire to move above every desire to move. An average amount below our average and the lowest desire to -- so that's kind of the categories. Well Kansas Missouri Ohio Nebraska. All of the Alabama. All of you fell in the range where people said you know lot of that an equal number said I'd like to lose it and knew it was a number that would say -- like to stay. But some of the other states and are listening audience we need to work on you on Arizona working media guys were bring it were educated audience that. On the -- that there is opportunity in real estate in the fact you've lost money over the last couple years. Is usually one of the the foremost reasons people wanting to -- state is kind of a bummer when your big investment has lost money. But if you stayed here is a long term investment in the home and you've got a good job. And we think that in the coming years. You're gonna be back right where you were 567. Years but it's a long term play real estate so we're working miners -- considered an above average number of people that want to move out of Arizona. Also Pennsylvania that's not listening on its above average -- go Oklahoma. You you're you do some right there it's a below average number of people the wanna leave Oklahoma now I. Go go Oklahoma what did you suspect is asked that's right and we've we've soon we'll have them. When we come back we're gonna share some of those states where people were ready get back. Out in May be critical time why it's not just food. -- -- -- -- why did you when we come back. So much more to share.

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