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 -- backs -- you know -- just go back. All right -- started are -- -- then he is Greg Miller handout we hope you're having a fantastic weekend got. If project and is out for the first time welcome aboard year -- for an hour of fun now and education no we hope that. We hope that you visit us again and again and again and remember you can check this out at might be -- dot com. You can also why you can podcast the show you can watch is on YouTube right now this is being recorded a video recorded so why you can check it out and CM. -- hand gestures that Craig. Makes it means an -- the at the the gesture I give him back. I'm self folks it's just your regular listener I'm wearing a black shirt today. Doug I don't -- and that he has not -- it's only when you're wearing those those collars that it's. It's maybe your little more but my drink out of the box that I like to discuss folks the roof over your head. Well you know it's protecting you from the rain in the elements and all those things but we consider it an opportunity to either Iraq. You don't make sure your financial house is an ordering -- be savvy not just protect yourself but get ahead in this game of life so. We give you the the latest and greatest tips how to be -- more savvy consumer how to be a a better. Friend of better business partner had a better look better -- all those -- hitting. How to get a better deal on your insurance how to make sure -- protected how to. The Europe your house in order so that if you leave this earth you or a state. Your affairs in order so much. That we coming GA each and every week and we encourage you reach out to -- she calls at 802706425. If you show suggestions. Subject she wanna hear or if you got a should he stay or should you go scenario that's. Where you emails or calls with your real. Life situation if it's if it's a rental situation you're thinking of buying and we just need to know what you paid in rent. How many you know -- what do you think that would equate to in the form of house payment and tell us what -- your situation may be will give you a quick. Straightforward answer and I'm sure that you're listening fellow listening audience will benefit from that situation. From here we have to tell Craig Jeff yeah week. I did have a good week and it's gonna be a great ended the week as we -- issue because I think we're bringing in some good information that people are gonna I think these are relevant. Issues things people are thinking about going through right now so we're gonna what are we gonna talk about all right Melissa out it is the middle of summer. All star break it was last week with a housing market. Being what it is that we think seller your position that they consider playing hardball. If you've got the guts we've got some ideas for you so later in the hour. You're a seller you wanna play some hardball you wanna get top dollar for your home. We've got some suggestions for you while the downside -- rates Craig what is it. Well it's much slowdown home selling -- isn't poppycock. That is poppycock a copy I was in Austria -- now -- -- -- -- that out eighty poppy cock. On it at that silliness. Craig is going to say why why he thinks is just silly and as some -- tell you why you know maybe it. May make sense that some people are trot are choosing not to buy a new home and it -- sitting on the sidelines because those rates. If he can't catch a break it may -- you should listen to our show every weekend it will show you how to create your own but. If -- -- stubborn sort will share some tips on how you can go broke. That's right that's right we're gonna share how you can go -- if your mission is to go broke. United take the steps necessary to keep your financial house in order then we we will help you we've got some great suggestions for you that one you wanna. It pour house. And Dow finally what you need to do before the moving company Iran and small we've got to a -- and so we get packing that's one thing he's got something -- often is overlooked and it's gonna ensure if you pack. Well we'll just tell you later what happens on and -- finally five home purchase missteps that your lender or real -- Probably won't tell you not book -- they don't wanna take care arena because they don't love you but they just may forget. -- -- share those -- okay Craig stuck it -- I always talk but every week. And that's interest rates we do you share that with you recently on the show -- either national averages. We let you know were rates were the week before this past week. In effect this week -- and share with you were rates has been for the past five weeks imitate what the low in the last five or six weeks has been. And then where we are why stop there. Following -- last five years. Every -- you know I'm finally if you feel like we always have drag yourself then you know maybe but but that's a suggestion for a baby next week and show you can kind of talk on the where interest rates have historically trended for those the younger set it's buying their first home may not know that rates. Heaven forbid were about five at one point and may have been about six may be about seven years of war we'll give you little historical perspective on where rates. Has been in May be a little other data associated with bats but I think it's good for those of you in the market right now to know where are they are now -- have been trending someone. Think folks you're also gonna here's some fun little music play different times during the show should you steer should he -- segment that we share with you every single week that's gonna come up to get a few of those. 8027064. Point 51802706425. -- write it down that's number you need to call 24 of the day seven days a week. 365 days a year. If you need information that question answered -- in the middle of the loan transaction or anything you wanna make sure that you are not screwed up or the you've got the invite you -- we're your source for that. -- on FaceBook YouTube Twitter all that stuff as mark mentioned earlier all right let's do you rates. Our summit due to the national average where they are now where they were the pass -- this past week we just completed -- -- common share with you below that we've seen in the last say five or six weeks. National average course as usual it's always based on a 200000 dollar loan amount. Perfect credit 20% equity you're more. Obviously variance is there can affect the industry UD quoting again these are the exact rates. These are the general average that we -- nationwide you may get quote higher rate. But lower closing cost of what people are paying on average nationwide or you get quoted lowering your paying more in fees the fees are just as important as the rate. That's why you go like the -- dot com. Life as you own it dot com go there right now -- even if you're driving just kidding don't. But. Check out the breakeven formula the braking formula we'll tell you how to do the math to note is that the cost for the rate. Does that make sense is not makes cents at payless cost more costs higher rate lower rate there's a balance in their folks it's what -- you the most money that matters. 26%. That's verse four point two for the week before relatively flat. That's not enough movement did you notice a difference in the quote you would receive from the lender fifteen year fixed 3.3 three vs 3.3 one. Five your arms course sets again he rates fixed for five years it just left that advertised with a thirty year loan. Three point 65 vs three point six -- a slight improvement on an arm. FHA thirty year fixed three point 99 vs three point 82 that's the biggest move we've seen. Among all the different loan types FHA fixed rates moved most there's many other loan options out there folks we don't always cover of these of the general ones we Kirk is he's the most common. Loan products there's twenty year fixed rate loans or three year arms or seven year arms -- FHA. Arms and fix and VA loans and ruled development loans and everything else under the sun but. We cover the stuff that gives you general idea of trending in average rates now. What's the best rate you could've potentially locked in that. -- best rate let me just back -- what's the bet with the average the best weekly average that we've seen for the past say month and a half well. I keep track it is definitely -- chuck it after about a month and get her to throw away my sheet here. Four point 18 average on thirty year fixed -- is what I just said that they was four point 26. Not a huge difference there what's the highest that we've seen in the past. I think four point 314 point 34 some like that so. Rates have been trading in a really tight pattern and and that doesn't mean you should be complacent at all in fact I think that. That with the volatility in the market as much as we've seen the stock market move. Great to take off and jump up here in the next couple months. It could happen or they may stay low. You need to take action based on mathematics and what makes sense of what's right for you to -- Don't assume rates are gonna stay at these levels low for the rest of the year and next year whatever it make sense to refinance now you so just check out that break even. Formula like -- -- dot com what's the music talent I should you stay or should you -- Sherry in Paola Kansas called ask. I'm being told that there is a zero down payment loans for houses in my area. I -- purchase but it seems too good to be true that I can find your house with no money down but this is what my real owners telling me. I've been planning on saving 5% for down payment plus six months reserves as you guys teach on your show but now I'm thinking of this is an option. I wanna do it what should I do -- well folks what you need to do is you need to stay tuned because we're gonna -- -- the answer. When we return I did you -- it. Hang out with -- us. Our friends we are back. Marching as soon as the earlier in the sun. That was great parts. I think it's -- thug you relax they can't quite hit that. That -- -- like yes you did write nice stride and that's not true mark that was what was the -- bruising and many times a lot of Cy Young can -- FYC. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- I was mustang guy was acquired a muscle shirt George that's right. That's such as bullet hit but I didn't have any earrings or anything but at a mullet. And all right let's go with this year you pale looking isn't we will should -- -- gets near thrown at us right guy for Jerry wanted to know is there -- zero down payment loans for houses -- her area. She's been out she's been -- into and the jobless in the show once. Put aside the 5% for down payment and the six months reserves but short before she -- but likes what she's here from a real sure about this 5% program. Craig should she -- -- should she -- what should -- do you know -- -- realtor is giving you accurate information you said you're from Paola Kansas Paola Kansas does have the US year old development loans available at a 100% financing to government. Funded program. Government guaranteed type -- like an FHA loans similar to. If it's right -- not that is a different story what I would say is proceed with caution. In speaking with a certified mortgage planning get preapproved for US -- there are some income restrictions and other things that you have to qualify for. And if you do indeed qualify really weigh your options and make sure the mortgage planner tells you. Yes this is what it looks like you go now indeed this loan here or work if you did save up three or 5% down or whatever here's the other -- -- programs you can deal. If you can save up your 5% down to conventional loan it will save you more money. If you have your reserves in place we definitely recommend that. If you're putting no money down. You don't have any reserves don't do I say stay and don't write anything but if you got -- reserves built up and you just haven't reach a down payment money in those terms alone makes sense and the right time for you -- only you can make that decision but how do you make a decision like -- has to be well informed decision and -- you well informed you work with an expert. Prefer earlier realtor that's an expert. You were with a mortgage player that's an expert and that's how you well informed as you get all the facts we have -- in the news made a decision based on facts based on math. And now you've done something sound rather than just -- something had a feeling your reaction or whatever to someone -- you so that's the advice long when an answer for share -- Kansas but. That's a little thorn that many people are sitting on his should ID this now or not how to I know it's the right time. Those are some of the pieces of advice you need to consider. Our we've got you you go into -- information out right got -- slugger baseball mean hardball hardball hardball okay so why you've got. We've all heard anything it's it's well documented talked about a lot that it is a to seller's market there's not enough inventory which ultimately means. We're seeing prices rise slightly but we're just seeing in that the people wanna buy houses are continually saying you know what I can't find a house so. In my world if there's not a lot of inventory and that means that generally speaking the sellers an imposition of leverage so what. Okay sellers here's some suggestions we've got for you if you're ready to play hard ball. Here you -- number one is Saddam if someone makes an offer and -- counter at your list price that's right. You're your salad for 200000 dollars to make an offer at 180 come back at 200. Here's my counteroffer that your -- if someone makes an offer -- ye -- you don't like the offer. Reject the offer don't count her and invite the buyer to re submit just rejected altogether are real -- that are listening or one. How I don't know fight suggested any of my clients do you this. Both folks again that's why we call that hard ball and we're not saying that it's for everybody but these is -- these are some suggestions on the. And you may choose to use them right but no no fault and an eighties I'm not when Craig well for years I've actually given this advice of people in 11 thing you can do. Is if you go to your home first of all your promised to be listed -- just lately is some ground work out you've got to have your home listed at a price that is suitable for the market. -- your home way overpriced playing hard bargaining each yet no sale. But if you're playing hard public as you know you've done your research or whether it's professional realtor who's done a good job to show any comparable properties in the Toronto market exactly BCA Goldman now I had been on the market long -- stick -- their list pressed as we believe we priced to sell. If there really interest in your home they've done their shopping and research -- they'll probably agree with you by the house you can always -- by 2000 or 2000 dollars may be human a make them feel like they're winning. But never. Just drop a big chunk as they that you're low ball offer to start with a -- so the next one up. He said purity covered reject the offer just tone it reconsidered and don't count -- -- -- a buyer to resubmit their ego. OK the other option is hold off on offers until certain date Leo say -- work. Word not taking any specific offer the -- only been on the market for two weeks were holding off until such and such date. In -- received all the offers up what second before remark. Possibly create a bidding war there you go on say EA on enough August 15 we will review all submitted offers and the best offers the one that we will likely accept so why. That way you've got a people ideally submitting those those offers and some may you may gets and over let's stop offering so locked in fact that's what does oftentimes happen when you employ this strategy if you give a great house in agreed area. Priced right. And the inventory slam. Someone says only and they're not -- which -- write a letter let's tell my how bad we want the house let's go ahead and lift off from 5000 list price and see if they'll take our offer now mean. You may find yourself getting. The premium price for your home if he's the strategy. What else OK there's another say you get the offer and down it's it's an offer your comfortable with possibly it's close but they also. You don't many times they're they're gonna ask for some concessions in the form of buyer paid. That that the seller will pay their closing costs -- up to a certain amount to seemed standard in many markets to ask for that. So you can counteroffer -- with an increase to the amount. So if you're except if you think I will weed they offered raskin to a five they offered 200. We're good with that offer but only good if that's what we nets. More that's -- the price -- get so they -- 2000 closing costs -- really their offer -- 198. So come back and say that will pay the closing costs -- -- price of too little too that way you get the 200 that you're comfortable getting. So again if they they want if they close -- -- at a back on. If you're -- at 205 you wanna sit tight there they've offered to a five and -- closing costs. You believe that you can still get it just understand that if you increase the sales price it's got to be supported in the appraised value. But that's that's a suggestion for those you want to play a little hard ball. And you know last -- before we get into the -- should he stay or should this scenario I'll just say. This it works on both sides of the table if you are buyer and you get an opportunity to purchase a home. And you -- -- offers right and they come back you know you make counteroffer of a lower price -- they come back much higher just raise your price by a thousand bucks. And see what happens to see if they think will mean they're serious they're not coming up -- -- -- take this offer. So it works both ways spokesman hardball can -- you. Some money that's right inject consult your real estate professional again they -- they're gonna do you tell the do but they should be give you some good advice comments and suggestions and ultimately it's. They're the pros that are out there each and every day negotiate on your behalf you -- right. Cred with the San mean which means it's time for another should used issue because -- Albert in daily Mississippi. That MS is Mississippi yeah you you put the SEI SE CIA has an IP PI try to join a little dancing under the Hart program program with a big lender that I found from a TV commercial. My balance is a 113 thousand current rate is five and three quarters. The loan officers giving me form a quarter but the closing costs about 5200. And this seems pretty high to me especially after listening to your show. I asked for a zero cost options like you guys talk about what they said they can't offer that on a -- loan. Is this true. I've been dealing with him for thirty days but should go to another lender or stay with what I've got its. Albert the answer is. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- He responded to the marketing. You said a big Landry found on a TV commercial I'm assuming you made a phone call you're watching TV may be -- in the shop and around. The cost DC -- me for your loan size I'm sure that probably there may at least include the escrow Stephanie you're looking at that too. So I'm not sure about your taxes or insurance of -- included in those numbers that strictly closing costs and fees it's definitely wait you. But the bottom line is not in her beauty shop around and no park does not exclude. Zero cost loan options you can do is your -- -- option on anything's not sure what the margins are with this particular -- need to take a look at -- -- compare with other people. All right folks we come back at the downside of low rates. Less homes are selling it shocking I know Craig's gonna tell you why he thinks this is just. Poppycock I'm gonna tell you why you know what I get it I see why people are selling. -- live it you own it.