Life as you own with mark McDougal and Craig Miller. Remember you got questions we've got answers you may not take time to educate yourself about the single worst investment and opportunity you have. Bad investment in the roof of your head in real estate we talked about your home financing making investments in real estate we keep them back you know -- just good old fashion. -- All right we're -- just -- to mark McDougal sandy is he's Craig Miller that's right it's it's a fantastic weekend somewhere you know it's a fantastic weekend. We're BR it's the weekend as long as you don't work on weekends right. -- give me an amen. Hey what you're checking -- the first timeout welcome aboard we hope that you enjoy the next hour as much as we do. Brett I hope we enjoy as much as we usually do yeah well might not be a little less enjoyed as much video we are the roof over your head shell with it. It has to do with the owning a home -- a homer walking into a home looking at home thinking about a home we will probably discuss it. Walking in one. I says dialing one smelling home whatever we don't it's not your home but -- yes folks whether it's not your first -- your first time home buyer. Whether you are a landlord without multiple properties whether you're renting your first apartment. What you're trying to find out how to get the best deal on your insurance. You name -- we run the gamut everything that that falls under the big grew fewer big financial roof that we like to have fun while we're doing -- we've got a big -- -- today but first I wanted to say how you doing this -- -- get a good week it was is it interesting week for me up I'll say this before we -- Roland Roland it is Father's Day weekend about it we should have a -- -- his Father's Day to -- times six -- yeah I sort of did -- little old lady -- is that an issue. Yeah and I don't know what to do but anyway it is Father's Day weekends out of Father's -- bothers -- it's the greatest job I've ever been blessed to have and I am very thankful to be -- multiple multiple times daddy that's right you are what you have -- you know is the we wouldn't be here at the mother split. Those fathers those -- -- deter the dedicated to you're pre preacher great husband and a great father. And and -- are doing what's right for your kids and you've made the commitment adorable we just wanted to be a big pat on the back this weekend they will have market pennies somewhere else if he had his Brothers who will dispute with the -- you upside the head could -- I'm alright folks so while big show -- summer housing market it is what Craig. Is -- season it's pretty warm it's deeds is his live in folks if you're trying to land your next crib. That would be yeah. Home Craig as the three house. With for the younger I saw it creates itself might electric grid that. Pay close attention to these five rules that will help you in this yes it's a seller's market folks. I'm also. If you're a seller in this market you probably want top dollar right which one of those don't want top dollar. You I don't know is there a reason doesn't but yet you know you -- you want top dollar -- what we've got ten things you do not want you don't want these things at your. Open house and remember this is the roof over your head show so we're gonna focus on those of you choosing to rent your home or your apartment. For just a little bit during the show we -- -- of some important information when -- which are 16 tips for reading your first department. And as a bodice Craig is going to share his ten best pets for tiny apartments that because we know how much -- you. We should send this self feeding you took. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Well on the show we think all of -- should be on a financial diet. And that's why we're gonna give share with you five costs that you can cut. For fast. Cash cash and exposure ads for Tuesday yet they show. On any building -- we've got the latest data from Hud and the Census Bureau on new home construction from 2013 how many bedrooms are really an off. You need to find that out later and now what about air conditioning how many. -- what percentage of the homes have air conditioned on the quiz Craig on some of these. New home statistics from 2013. And there'll be cash and prizes. We given to meet for every one that he misses which will be many. I'm certain it's. And who says uncertain who says why the life as you don't ask listeners -- -- -- -- a tough on us I think are good says you know why you all listeners are all beauty and no brains and maybe they just hit at about those. -- we share one listeners insightful views on the housing recovery you're gonna wanna hear that. And first time home buyer regrets. We've got a few. But we're -- revisit those and a preview -- we talked about those first time home -- regrets out compliments of -- this time so you wanna stated. Lots of great information and Craig got. Without further -- left. Let's jumped into the interest rates where they are aware of their head. -- -- -- We are gonna bring this to be released as usual -- to be the national average -- national averages based upon this past week's numbers. 200000 dollar loan amount 20% or more equity excellent credit scores. You could have some variances in there may or may not affect the exact quote you would get remember these are general guideline we're giving the national average he may be getting quoted lower rates in this. You may be included lower rate this the what these charities are your -- -- much of fees. To get to that lower rate or maybe you're just getting -- better -- -- what the national average was the main thing we want you know is the math in that is what's my break even period on this. I'm refinance my home I dropped my rate three cores and a point that is costing me 3500 dollars in my get a save money in wind. The job he's like at 63500 they closed. You gonna save money each month with having that lower rate in its gonna take several months to catch up. Go to like visual dot com check out the -- formula linked figure headed to your breakeven formula to figure how long it's gonna take before -- actually pocketed eighty go. With everything -- transaction same thing applies to purchase. If he can compare apples to apples and say. I'm looking at one rated this not a cost and a look at another rate quote that might be able to -- but the costs are dramatically lower. Take a look and see how many months that higher rate with less cost is the better deal because it will be a better deal out of the gate. Zero cost loans do exist where you're not -- closing costs and fees the lenders absorb it all those cost. You look at those as an option if -- -- Leonard doesn't offer it yet another opinion. Maybe missing out on your greatest opportunity to save money here are the national urges folks from the previous week. Thirty year fixed. Four point 21. That's compared to four point 17 the week before rates did take -- turn slightly for the worst they moved a little bit up. Over the past week fifteen year fixed 3.2 six vs three point 19 begin so little bit of -- negative news on the shorter term fixed rate mortgages five year arm. Again that's where the rates fixed for five years its -- -- thirty year memorization. But it's only fixed for five -- adjust up -- down -- 3.4 four. Vs 3.3 four again. Almost an 82% movement. FHA were loans thirty year fixed four point 03 verses 43 point 91. So we saw some movement the other way. Right now the indicators that I'm looking at you can carefully float for awhile if you're always out from closing at home it may be under construction. You're still in the mode of shopping whatever but. If you get a short term transaction. And you're looking at what's Freddie to make sense now take advantage of it we just don't know the market's been the. No wait too much. All right Craig is. This music that music you're here for first time listeners -- means it's time for your questions your should you stay or should you go sit there you tell us your situation. We'll tell you whether it's a mortgage whether its relationship whether it is up buying a new car where it's really witty should do it. We should stand pat where you are. Okay NN Rockville Indiana called the following I'm selling my house for 245000. Dollars and -- 140000. It closes in 24 days and I still don't have a replacement house. My question is this. Do I put down all of my equity on my next house. Or just the 20%. I want to be Smart with my money the way you guys are always explaining. That -- and a -- EC which don't presume that that makes a Smart. Just because we're telling you had to be Smart okay here's the answer first of all if -- stay or go out and give it to you this way. Stay meaning put the 20% down go put it all down I mean it doesn't really matter which way we we call that the bottom line is. My suggestion and it is to look at your financial plan. But -- -- short longterm goals visibly your financial advisor if you don't have a financial advisor try to find what he trust are free to a good one. -- will be make sure you're working with eight. In look at what your options are I don't know how much how's your buying as you said. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You have a lot of cash left over. We would always suggest if you got a savvy financial plan. -- dedicated to -- discipline with. But to 20% down at any additional funds should be put in some sides and really grew at a greater -- turn in the interest on the mortgage pain and a stay tuned later on because you need to rent a place in a rush in and buy a place in close on the next when he -- Days so you need to stay tuned later in the show we're gonna talked about how to get your -- how to find that rental. That apartment to live to -- the state to. I am donations and it's. -- we are back -- life as you own it. Before the break we're talking the talk about Anna's question who as she could mean a dilemma 24 days that's fine how's it close on March meeting an eight point get a pot. -- -- -- -- Yeah it's stored somewhere and find a place to -- the most he can take your time and locate the right for sure. And now five -- -- -- shouldn't break don't break these folks SI let me let me remind our listeners if you're checking is -- the first of your regular listeners -- Forget to get on the Internet. You guys have Internet you know -- you can check out YouTube not only the short clips with tips on the Promos for the show but also the entire show. And there's even some additional. On censored footage yeah. That you can walk if you go to watch you can walk. You can walk rhetoric -- to watch it if you go to YouTube just -- plug in their life as you own it. And there will be -- plethora of video content or just go to the website like -- you own it. Dot com remember we want your feedback you can tweet as a response you cannot obviously -- on FaceBook keep up with what's going on and get those great tips. -- and remember we've got an ever growing list of affiliates so with fewer. Hearing us for the first time in your market called the radio stations say thanks we'd love they show. If your passes through tanner -- is on satellite you'd like us on your local radio station calling demand at. Life as you won't remember who want your feedback. Questions like these you wanna dot com you got a scenario you -- should he stay or should you go you want feedback you want help where your team were here for yet. Anything that falls on your financial -- We want to hear from you so remember questions. Or question at life as you own it dot. Com and it doesn't matter what state you live in. Alaska Hawaii. Puerto Rico. Washington DC you name it folks you can send us an email if you're in the middle of the mortgage transactions getting restart one. And you gonna make she made the most sound financial decision possibly receive the most money. Set that mortgage planet right send us an email don't skip this opportunity to yourself and away that are positioned we can console you on the right we destruction that. Transaction we can potentially even help you get it done if you want sin anymore directly to me there is still there is one state we do not want you to listen. That's state of confusion. So if so email us Rosie saw what you like where's he go and there -- -- their allows. I spoke so this is Craig said the summer housing market is still a sizzle enough. Let's talk about those five rules that you shouldn't break if you were if you can put an offer on that house does it is. Whether we like it or not it's a sellers market why because there is very little inventory we've seen an increase of homes coming on the market. As most people want to wait a minute. My home value was gone up and I can actually selling get a little money and maybe I'll buy a new house so. Let's talk about a Greg number one what is it don't make an offer without a pre approval don't go out -- just make it offers on houses when you haven't. -- enterprises financial house in order get the pre approval and I would tell you. Make sure that pre approval is legit you know what you can afford you stay in that zone it's from a reputable mortgage -- and you get something in writing -- you know you're deal's gonna go through. Number two Craig. Number two. What is use a real estate agent of course used the real -- folks it's the biggest purchase you probably making your life use appropriate with state. Professional don't go out this on your own end and if you don't understand that the difference between. A transaction agent or dual agent or a buyer's agent. Please let us know you need it you're buying your first home Iraq that are making off. You need of tires aging he needs one represented you that's how you get your best deal and trust and it's not costing you. Bunch of extra money if anything at all to be represented as a buyer. Sometimes there are franchisees and things that that real rules -- companies will add in 34500 dollars potentially. But for the most part that buyers -- are seeing and get paid when they help you locate their perfect home you'd be way more successful have -- a man who knows the market. Did you -- process so don't skip the real estate agent if your buyer. All right here we go folks that music means it's time for another ship you stay or should you go scenario remember you can email us questions at -- -- -- -- dot com we. Very well may use your scenario on air -- Irvine California called in -- this question. I've array of foreign seven -- on a thirty year mortgage but about 26 years left to pay I -- 672000. And I think my home. We'll appraise for 900000 or so I plan to move and about five years is an opportunity to save money. Refi or no refi. Craig stay year ago a mistake go and that means go for that refi. With at that rate -- and hide balanced picture in California so that's -- naturally conforming loan balance in that state. You play of equity in the home you plan to -- than five years here's the trick -- don't pay any fees. Don't -- any fees whatsoever or -- get to pay a little bit of fees to get it done dude adjustable rate mortgage. Now if you know that's your planning you got the five years lined out yours you rock solid on that deal. A five year may be for safety in case it doesn't work out exactly as planned a seven year. Arm would be -- great choice is -- lower rate weighed down potentially point to half lower so. And save a bunch of money so check out some adjustable rate loan options the -- we fixed for 517 years there's plenty of those options. Watch -- -- -- carefully because those are gonna cut in if you got a bunch of -- -- save money but Torre needs to check -- options to save money. On the high balance mortgage are priceless jump back and how to get that deal it's tight market want to make sure you've got a pre approval of the rock solid with a rapid rule. Mortgage bank that is known in the market you're looking to purchase a home number two. On that these -- real estate agent. Make sure that they are someone that is can help make sure present your offer in the fashion where it's all tidy got a neat giving in on time that responsive. On and they and they make sure your offer is an attractive wanted to dot the I's and crossed the -- Number three is put an -- money you got a house you really want Curtis -- refundable if they don't accept your offer. You're gonna show your serious buyer. Put a little bit more down one to 2% is the standard that dole. Don't don't come in and a tight housing market when I wanna put 500 dollars earnest money down on a a 300000 dollar house. Because if I'm Sony at a house you're not serious on the if they're gonna accept your contract. They wanna see someone that's we'll put some change -- on it because again you get the money back if the offers not accepted. Or if the transaction doesn't close and it and it doesn't close because. The contract terms -- met. And that means basically you don't you didn't just I changed my mind -- -- earnest debate money. Our rights of number four Craig sell yourself and you know what I used to think this was kind of funny when I first heard people talk about this when I was much younger and out by my first time -- so. And now you find it to to really be true it does work. They're just going to make an offer cross your fingers and hope it works out when you're in a competitive market like we're in right now homes are moving quickly. Bridal story with sharper tell me you are total story Richard Stanley. Why you think it's best song for you and your kids etc. End you know the things may be that you liked the most about the home of your -- Looking forward -- enjoying when you move into that home. People appreciate that seminal piece and are likely to chi is the buyer yet you get the house she'd love you want to drop I put a note on the door the cell. Talent yet it's the house you won -- you really want it. The every little bit helps -- number five -- homes and person while Craig is. There -- the left lung Obama folks make sure that there's you'd be amazed at how many times that we hear or see people that -- are actually making purchases I should say we hear of it. Their personal home date maybe live and and an urban market in -- time to get here they're buying home sight unseen. When I tell you folks told don't do that we strongly recommend you is the technology to narrow the field. But Gideon tours the home in person because even if your good friend that lives in the market goes due in. If they're gonna be live and investing that with you you gotta you gotta take time to go and see that the home in the person alright folks. That's what that's how we tell UD -- best deal on your house in this tight. Housing market -- What else at least get it done pretty well you know we've got ten things to -- -- sour -- we're selling a house here ten things received don't have the easier open house number one net. And obviously you don't wanna junky looking exterior. Poorly maintained Dexter you know he got peeled paint -- got. All kinds of you know whether it's the shrubs are nasty it's does it just clean it up make it looked tidy especially the front of the house. Number two Greg this is something you're familiar with. -- especially when it come visit you voters. Though there. Seriously though I have walked in the homes before and I've been home shopping and they like woo you must have a great gainers something -- -- us. But you know seriously if sometimes. Pet odor other tests that are cooked please. -- out of the -- it and making liver and onions or something guys a -- likes so you really garlic apparently every morning for Brando -- every day for. Oh so it's another issue -- hi folks we come back we're this year a more things need to banish from here open house might jump.