Category Archives: Homeownership
How About a Homebuyer Mulligan?
The story is part urban legend, part sports folklore. David Mulligan was driving to the golf course one crisp, early morning when he nearly crashed his car after crossing a rough bridge. His nerves were understandably frayed by the time … Continue reading
Filed under Finance, Homeownership
Your Home is Not an Asset; it’s a Place to Live
I was standing at the checkout line in Target on Sunday with my 7 year-old daughter, Allyson. She desperately wanted me to buy the spearmint Icebreaker breath mints. Now I’ll admit…these things are good. But, at $1.99 they are a … Continue reading
Filed under Business Development, Finance, Homeownership
Seller Financing Strategy an Oldie but Goodie
Last week I tuned into the oldies station here in Phoenix. Huey Lewis and the News’ 1985 hit, The Power of Love, was playing. You may recall that this song was the title track from the movie Back to the … Continue reading
Filed under Finance, Homeownership, Investing
Home is Where Your Family, and Stuff Are
The song sat at number one on the country music charts for four weeks. Today, it remains on the charts at number six, a record this year for singles of this genre. The lyrics, which begin, “I know they say … Continue reading
Filed under Homeownership
Sharp Drop in Demand Following Expiration of Tax Credit
In my last post I said the housing market was juiced by the federal tax credit. It appears as though my analogy is more accurate than I thought. New single-family housing starts were down last month 17.2% and new mortgage applications were at … Continue reading
Filed under Homeownership, Investing
You Have the Right to Remain Broke – Reading Your Housing ‘Miranda’ Rights
“You have the right to remain broke. If you stop making your mortgage payment anything you say can and will be used against you by your lender to make you feel guilty, irresponsible, immoral, shameful and stupid. You have the … Continue reading
Filed under Homeownership, Loan Modification
Flushing out the Flakey Cash Home Buyer
“They say money talks. All mine ever says is goodbye.” – Red Skelton My father-in-law is an excellent negotiator. He expects a deal wherever goods and services are exchanged. This includes Best Buy, although I’m told they don’t negotiate prices. … Continue reading
Filed under Homeownership, Investing
Performing an Autopsy on a Dead Real Estate Deal
Last week I played doctor. This week it’s forensic pathologist. Admittedly, I’m not very good at either one. I let a real estate deal flat line and the cause of death remains unclear. Fortunately, there is a lot that can … Continue reading
Filed under Homeownership, Investing
The Key to Real Estate Recovery: Affordability
I’m no economist, although as a real estate investor and loan modification consultant I do study trends like unemployment and consumer confidence. These trends have less to do with what is actually going on in the real estate market and … Continue reading
Filed under Homeownership, Investing