Life as you -- 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. That investment in the roof of your head in real estate we talked about your home financing make investments in real estate we keep the -- -- you know it's just good old fashion. Yeah. All right I just -- tell welcome to weigh out what is a fabulous weekend for me -- -- -- activity could not get so Eduardo. No no I know you're not why not. What's on my friend of letting you to hang out with you that's what happened until now no he already did that how on experience we now get away. Next we do we need it and yes let's go camp and again does no last time that's right all right folks well this is -- -- -- you want it we hope that you were had a fantastic weekend and death. This is the roof over your head show if you're -- out for the first time well we are here to talk about all that you may choose to invest in that falls under the call that the metaphorical roof over your head the financial roof but also we've we've really got to. The physical roof over your head -- you're either -- Europe homeowner or your aspiring -- homeowner -- -- and mom and dad's or you Laura and look can get on your own Wen date or you're paying the bills yourself. We'd like to like teach you how you can be most efficient and effective and safe the most money in the big investment in that roof over your head Craig. In its fine folks -- good week. Is pretty good is fairly productive. There's stuff moving to shake -- up their people and do that last minute scramble a lot of people close not -- before the school -- starchy people school shop in you know the everything so it seems like a lot of there's a lot of buzz people are busy right now -- -- to wind down. And they're a little bit so that housing market is still on fire seems and in many of our listeners are -- called insane how is eight a seller's market it's hard to find. Homes in the prices are are moving up quickly so well. You know is as you've had three or four years to get your. -- bargain basement house on the and -- now we're seeing -- -- other -- so while we might have to have a town he could -- during the -- you -- share that with yes you might even just -- some of that that I don't -- out -- and again he's he's a -- yet so I -- you all right so we don't believe that bigger is better and -- for talking about your paycheck or -- IQ you're saying he -- your batting average -- it may be in life bigger can be better but not necessarily when it comes to the roof. Over your head we've got nine reasons you will be happier in a smaller. Home. The 99. And all right you've just retired or maybe you'd like to putt. You've got too much month at the end of your money. Will share our tips -- handling retirement income shortage this is a fairly common problem it is we've discussed at a forged probably about a month and a half ago. Also what many Americans have seen a pretty nice rise in their home equity yes. Home equity what is it. And what can you do with it will tell you what. What you can do with that rapidly increasing asset or maybe what you shouldn't do that it. Maybe a little of both they love little both Greg Craig what else well as I mentioned here but yeah go ahead and was edited on purpose. Why would he think he could buy for one point five million dollars Fiji by. Maybe house may be small island may be a town I don't know Lesotho and -- -- -- -- or not maybe as -- I'm sure to buy yachts and he has the that it was 200. Sixty million dollars us on the market -- -- -- did you in -- by -- -- but anyway. So -- what else it's obvious and it's time to save money we've got five things you can buy on deep discount. In August. And Craig. Which are on a good investment you've had you've purchased several hedge. Yeah I have on seven. Homes realist pieces -- real estate issue it's one of -- it live and most of the Internet to begin investments one of them not as much. Maybe two of whom -- have done better than I've done worse under under better than good and bad mortgage and analysts say it's about mistakes you've made a few yet made right. -- -- -- -- A -- -- -- you know we've we've all got too much -- I know about the home investment later in the show already share web sites that you can go he gets punched numbers crunched numbers yourself and use you some data some empirical data and identify if your homes -- investment. And depth we've all got too much stuff right we've got some ideas of how to get rid of some your stuff when he -- to sell or donate or trash it's. We've got some. What -- Suggestions. For you consider a threat I don't know wildlife and -- -- -- country and yes it is -- citizens jazz teams do you sit I'm gonna have you to listen that segment. Let's do it where I learned today I remember folks if you got questions that we got answers and give us a call 802706425. You can also -- Shoot us an email questions. Or question at life as you own it dot com question at like -- you own it dot com. We wanted to hear from you what your suggestions your feedback and most of all we -- Answer your questions you've got to should he stay or should you go legislation that we can -- -- any better that was could go nearly a year well oiled machine in here. Folks this is where you give us your scenario we give you a really quick in concise answer. Unless it's cracked. And that -- never been he's at the quake is going to be flyers. It's that it going to be able to say we could leave it could take well that's alright okay so here we go. -- in Sacramento California email like guys my Condo has an arm loan that is set to adjust this October. The current rate is at three point 75%. And I'm told that index on my loan is the Libor index flexible or is yes do I need to be refinancing now for my safe to stay put. I just got engaged and we plan to marry next spring. We have talked about selling my house and buying one together in my safe in my current loan per year to thanks. -- days days days. You don't need to refinance at Peoria. The meat is explainer of quickly why replace -- -- your current Reid did not tell us -- the margin is when you have an arm folks it's an adjustable rate mortgage or is it treated time of that loan will be fixed. And then there's a period of time that it can going to adjustment period. -- -- is coming up in October she doesn't tell us the margin margin typically range anywhere from one point five to 3% in those adjustable rate mortgages. 2.2 five being most common. Libor index were tech currently I would have to be willing to bet that readers armory will actually go down. We don't know if she's got a six month adjustment period -- one you're so there's a few bits of information read it did not tell us. I'm still feeling confident to say that -- could sit tight if she thinks she's in about a two year. Time for -- she's Jimmy hang on this property. She's not gonna low moderate enough and going to another arm she certainly isn't Hillary going to fixture English too short term loans can be of the payment increase. That's a life changing events coming up not always a good time for pain increases stick tight that's my advice all right. There you go folks remember you -- -- what is the answer just email us or give us a call we'll do it and and also don't forget you can check this can podcast the show you can videopodcast the show yes I'm looking at you right now. Are listening audience or our viewing audience looking right now -- Square in the eyes but back in week. OK there you go hey I -- -- -- so remember check out go to -- the show or you can stream Michelle you can go to like usually dot com. Got all the resources there for you and we'd love to have you as a listener led to keep is Lesnar love to have you okay he is our -- Matt Craig you ready we don't believe necessarily. Unless we're talking about a state. We'll talk about -- check that rates has been traditionally our house and operates that way we'll be OK let's do it somebody every week for folks who bring you the national average on interest rates which they were they were over the past week the just passed us by. In which they were they were the week before that when if you did listen to the show. We want you know a general idea of what the averages are following where they're falling in where they might go. So real quickly before we take our break and gonna share this information with you we always want you to check out the breakeven formula on life as you noted dot com. You need to know. If you're doing the math right you need to know how to do that math and if you still feel challenged mathematically you need to find someone who can help you do that math literacy and math as market I always say if you don't understand it wanted to -- please explain this to somebody as if he can't explain what your friends that worker or your neighbor your your brother sister whomever. Why you did the financial transaction he did did he shouldn't be signing on the dotted line. How we've helped you with that when it comes to refinancing and looking at closing costs are lower cost higher cost compare rates. You need -- -- and formulas he can see that weather makes sense to have a higher rate with less cost may do little more costs -- lower rate. You know how much money you save when you say it. So. Watch the fees watch the fees and of course always watch the -- Because the closing costs are taking money at your pocket closing whether you paid at closing year old in your financing you've moved backwards. Did take time monthly with interest savings to actually catch -- and save money thirty year fixed rates folks average over the past week four point 20. Now that's first four point 30 the prior weeks that we saw a little bit of an improvement I will say though. There is an improvement and and there is a pull back so we may find it next week averages eased back up a little bit. Fifteen year three point -- -- is 3.2 nine pretty flat on the fifteen year fixed five year arms it's fixed for five years and -- just. Through 3.3 six or 3.4 five with so little improvement there. In an FHA government backed FHA loans thirty or fix on FHA which is the most common FHA loans three point 84. Vs three point nine -- we saw some improvements their folks. Where I see rates go from here continue flat as a human makes sense to do now he should jump on it. We're going to be back if you with a lot of good information relies as you own its teeth and. -- Wow we're bringing it back. Repeatedly party party. Spring like he's thrown it back if you just -- on your stereo your radio year. Listening device there. Bloom box. -- boombox it's marquis gray -- boom box up on your shoulder right where you're New York it's again you just give us your nose your George you're you're you cut off. I get the kind of -- tattered. Like Iraqi and poetry were their run on the beach in rocky three permanent. You know I had to cut off I actually a minute thrown out there and I actually did have some of those shirts. Out there and play in football somewhere in their shirts when you don't have pads on -- and I mean that's buyers and those sorts short. And its partners the Sox pulled up almost Andy's. -- -- -- so it's no fun to -- -- OK so bigger. That are okay folks nine reasons you'll be happier in a smaller. Home number one. This expensive he do is that true it is just amazing -- generally speaking of the the bigger the house the more it costs. I'm so once less expensive less less money out weigh in at number two along the the the vein of less expensive as means you have less debt debt debt that's. -- that dad let's -- maybe you know less debt and in turn less risk you have less of your harder -- come. Put into that asset as a down payment on and in turn when the market is moving up as you know in home in equity is improving and you know. The bad investments going up it's great you have a little -- relative basis when it's going another direction you have less risk you've lost less. Home equity. -- are correct term trees but you know there. And you -- -- permit the camera that's right you kind of look at you got those in their number of mine prided that's right you're right on the number three I like my own net numeral system -- -- on and on its toes. Number three is it's easier to maintain yeah. Easier to maintain number four less time spent cleaning and that's about it there's one thing we hear the most people would downsize as the becoming you know I'm just. -- feel like I'm always clean and Marines don't he used and covered much of floor space that I don't need you know this kind of stuff so that's a -- -- in the maintenance so you have owned more than a handful of old houses. And he had they just you're always having to do work on him in the bigger they are the more work you've got to do. Eating and doing yourself you're gonna pay someone both painful on number five means you're not if you're not have a few more cleaning and you're not having to. It to do more work on the house than you can have more time. The more time to spend with your family your friends your loved ones. Pick up a new hobby that hobby not cleaning ends. And painting in -- and all the things that house meeting the guys that come to fix the things went wrong with the things right and that's right right also you're gonna spend less money on what furniture. Nick snacks. Are work patty -- less -- had no more pat. -- rational about it what is of -- like anyway yeah ghetto to giving you know about I don't know 35 bucks bucks it. And I have got back at you now is there earlier in five dollars grip that you ask. I'm not gonna get let's not all of your office after the odds are just got of Davis that's what his truck construct it Akron because there -- okay and I don't. We'll have to figure out really -- look at it up what else is a good reason I just. Another reason he's atmosphere what is going to be on the war. More time spent. In close reporters -- your family and loved ones. I mean think to think about it's a reality is that you get. You'd probably -- used to share a room with your brother when you're younger right yeah I mean if we had a -- and we still has -- -- those I -- I had to share I share a room with my brother knows my younger. And those are. You know we have bought one always good we argued a lot there's something to be said on an even being in the small you know you take a vacation smaller smaller confines at setter with your family. Just being forced to get a little more intimately little closer more family bonding threat and it's good is -- -- -- on year in the biggest thing for us sleeping in the same room was we got beat shall we got to bed at night. And the minute I touched the floor with the birth but hasn't rats you out native elect that we get if you get is that what is your brother my brother. -- at a -- it's got an event whatever and then you know becomes my dad coming in there to beat this to death but. It was impeached and I have to go to the bastard of the won it yet and it causes you had to go to bat if you get legitimately produce. Bathrooms sticky if you had an excuse to get edited this SS. Just rethink your best they think they get elect. Is that not okay and I look at what is you have you have less desire or less you have less ability to. Collect junk on C united accumulate as much stuff which ultimately you know you're you're gonna buy less and spend less money you know spend less time. Pack and move and it and story written all those kind of things on number nine last when number nine is on the when you go to south. It's a lot easier to sell a a modest home and a nice neighborhood. And the biggest home in the nice neighborhood -- you've got a lot larger audience that can potentially purchased that home so. Nine reasons you will be happier if you're not -- you're smaller all callers. Will set you straight that's right nine reasons. All right should he stay or should go Craig. Which should we do we'll find out let's find out what some are right and then my next to -- this email I am hoping to buy my first time next year. I have saved at least. A full year of my normal household expensive I have a steady job and I'm carrying a load debt load to go now. But in spite of all this I'm very nervous to purchase a home I don't know why it seems like such a big deal but everyone says I'm crazy not to buy maybe it's my fear commitment. I've never been married but would be enough currently being hurt is if mark was available thought laughs yeah I am obviously yes she's just -- he's Smart as -- -- TV TV -- good taste in ministers here. That's -- don't know if I should stay or go what can help me get over the psychological hump. Right now first let's go. Going to date with market -- on YouTube or any psychological Iranian -- then determine Madonna wanna be married for 200 harsh. You want to do BE and a home with a good locks on the door -- it is safe neighborhood a lot of time I come I think it's quite if you didn't sidetracked you know what endowment. Say go to Gillick and I agree with your friends that you'd be crazy not to buy if -- financially in a sound position now. You may have apprehension for a reason you should always -- get to an extent if you irrational fear about it that's one thing. Talked to the people closest she didn't know you as well as anyone else. Take a hard look at your financial situation may be meet with a tax accountant and in a financial visor is more important is certified mortgage planner. Before we talk to real everybody else who would obviously benefit the most from you buying a home talked to people who care about you. I see you got that. You know full year where the reserve saved ACD get your expenses in line to you know what you're not really in doing any investing for the future -- -- -- -- your company for a one K plans so there's maybe areas that you're not. Maximizing. The would be better to maximized in the opportunity of homeownership. Perhaps not. But I -- think homeownership is a hedge against inflation in can be good. Part of the long term financial plan a good balance part. So talk to those people see things help you alleviate your fears and you can always call our 800 number out talked he had Netanyahu Cuba marked. 8027064. Q five -- be out there in the middle over thinking about a mortgage transaction is calm me. I hope you feel better. -- and he'll be there that's -- good at Craig that's good advice I can even add on that aren't good job on Friday night all right I could add something. But -- I know you could I trust of -- it back to try but I will not alright folks so well let's see what's next up on the agenda. -- what about that one point five million dollar. Islands about it is there a home or know always Craig told you it's it had known I blew the surprise they did I did because what are you thinking you know what would you. Changed name -- chance you. Crown bill what's the name of credit lenders -- Latin Wyoming folks Aladdin Wyoming if any of you have good passer and a hatred it to own a town to say -- -- only my the mayor but I'm also. Alaska Wyoming Clinton just release one point that's right should just ACP. One point five million dollars so you can know acres and acres of wind as opposed us and there's a bar. That there's a ballerina there there and almost all the teaming up. So anyway it's located eighty miles northwest a Rapid City, South Dakota to thirty acre Hamlet as they refer to it 126 year old. General stories that is there in a bar in a post office as I mentioned elegant stuff and there's fifteen. -- fifteen. Full time residents not count not the he's a resident now would they be your minions. Now that would -- I've got fifteen personal servants that are gonna. Do you my dating. In -- you can you be king of the town Craig. Speaking proudly be anything you want what this is only fifteen people do agreed to an eight they probably don't wanna move seemed really Kagan acidity and all of our -- if we buy it. I get my guess if I be if I -- if we -- not be a monarchy but it will you be my quick if it is could -- and I thought -- -- -- -- -- we get that backwards you don't just let you know if you instead of by and some big one point five million dollar house think it's not just -- little town out in the middle of the the west. Right northwestern where the central west where is that I don't know it's just the north it's a great -- The upper midwest -- FaceBook when we come back co workers talk about home equity what is it. You have some events and what should you do it it. I think -- stated.