An explanation of the difference between good debt and bad debt.

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Most people think of debt as something you want to avoid, but is this always the case? Today we want to talk about the difference between good debt and bad debt.
The main question you should ask yourself is, “Does this debt pay for itself?” If the answer is yes, then it’s good debt. Most consumer loans, such as credit cards, car payments, and payday loans, are what we would consider bad debt because they do not pay for themselves. A trickier example is student loan debt. If the education nets you a high-paying job, then it could be considered good debt. However, this is not always the case.
"People think you need a ton of money to invest in real estate, but that's not necessarily true."

Most financial experts would consider home loans to be good debt because you replace what you would pay for rent wi. ...

My advice on how you can find a great home after selling.

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Today, we’re living in one of the craziest seller’s markets I have ever seen. You would think this means now is a great time to sell your home, but a lot of clients have told me they’re worried they won’t be able to find a great home once they’ve sold. Can you still find a great home in today’s market?
From personal experience, the answer is definitely yes. We’ve helped loads of clients seamlessly transition from selling their old home to living in their new home. They didn’t have to settle for something they didn’t really want, and they didn’t have to pay way out of budget to do it.
For example, we had a recent client who needed to sell before they could purchase their new home. However, in today’s hot market, it’s really difficult to get your offer accepted if. ...

It’s still possible for buyers to win in a seller’s market.

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It’s a tough market for buyers right now. Competition is fierce, as there’s incredibly high demand but very few homes available to go around. Many buyers are trying to find ways to make their offers stand out, such as by writing letters about why they need or want the home. However, there are better ways to make an offer that wins you the home of your dreams.
These are a few things that have worked well for our clients recently. In one case, we were able to find a home within the first 15 minutes of it being listed. This meant we could put in a strong offer early and negotiate terms before anyone else even knew it existed. We were under contract within a few hours, and we even beat offers that were thousands of dollars higher than ours.
In another situation, we were waiting for weeks to find a home that mat. ...

Waiting for a market correction to buy might not actually cost less.

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Many people are asking if they should purchase a home if there's a coming price correction in the future. I’d like to discuss the ramifications of buying a home now even if there's a potential downturn in the market in the future. I’d also like to go through a little bit of a demonstration of what could happen with prices based on the current trends.
Over the last year, we've seen prices appreciate about 30% and many people are concerned if that continues then prices have a good probability of going down. Let's take a look at a scenario of somebody looking to buy a home for $400,000 right now. They may have been able to purchase that home for under $300,000 a year ago and feel like they're overpaying if the current trends continue. However, if an additional 30% appreciation occurs, they could be looking at the . ...

Here’s a deeper look at the total cost of purchasing a home right now.

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Traditionally, buyers have had to budget for some closing costs, a down payment, and any other fees associated with the lender. How much money does a buyer need to bring to the table in order to purchase a home in today’s red-hot market?
In every market, you’ll need a down payment. The specific amount will always vary depending on the loan type. VA loans usually allow you to put 0% down, FHA loans require at least 3.5% down, and conventional loans can be anywhere from 3% to 20% or more. Keep in mind that those are minimum requirements; if you’re willing and able, you can go beyond them.
"Buyers in today’s market may have to pay $3,000, $5,000, or even $10,000 over the appraised value."

In addition to your down payment, you’ll also need to pay closing costs, which include title fees. ...