#real estate buyer consultation

[teamfrontporch]

charleston residential real estate

Meet Michelle Barnes, your trusted Charleston realtor with 7+ years of experience. Dedicated to smooth transactions, Michelle’s love for Charleston, her home for 15 years, shines through her expertise in neighborhoods, schools, and amenities. As a proud parent and Charleston enthusiast, she tailors her services to your needs, whether it’s a modern loft, family house, or retirement retreat. Michelle values lasting client relationships, prioritizing your happiness. Notable designations include North Area Top Producer, Real Estate Negotiation Expert (RENE), and soon, Lifestyle Home Loan Realtor Certification. Choose the Front Porch Team for a perfect home in Charleston.

[seobud]

Why Real Estate Consultants in Bangalore Are Essential for First-Time Buyers

Buying your first home is both exciting and daunting, especially in a bustling market like Bangalore. This is where real estate consultants in Bangalore, like Bud Realty, come to your rescue, simplifying the process and ensuring you make the right decisions.

First-time buyers often face challenges such as understanding property valuations, navigating legal paperwork, and choosing the right location. Real estate consultants address these concerns with their market expertise, helping you find the perfect property within your budget.

Consultants also guide you through financing options, such as home loans, ensuring you understand the financial commitments involved. Their insights into up-and-coming areas in Bangalore, like Devanahalli and Kanakapura Road, help you invest in locations with future growth potential.

Bud Realty's consultants prioritize client needs, providing personalized solutions and handling every detail, from property search to finalizing the deal. They ensure transparency, helping you avoid pitfalls and make confident decisions.

For first-time buyers, having professional support ensures a stress-free journey. Let Bud Realty's real estate consultants in Bangalore guide you to your dream home with ease and expertise.

[kindhousebuyers]

[strandpropertygroup]

Your Real Estate Roadmap: The Benefits of Working with a Consultant

Introduction

Buying or selling a property is a significant financial decision that requires careful consideration and expertise. While many people turn to real estate agents for guidance, there is another valuable resource that often goes overlooked - real estate consultants. In this article, we will explore the benefits of working with a real estate consultant and how they can help you navigate the complex world of real estate with confidence and success.

Understanding the Role of a Real Estate Consultant

A real estate consultant is a professional who provides expert advice and guidance throughout the real estate process. Unlike real estate agents who represent buyers or sellers, consultants work independently and provide unbiased recommendations based on their extensive knowledge and experience. They act as trusted advisors, helping clients make informed decisions and achieve their real estate goals.

Objective and Unbiased Advice

One of the key advantages of working with a real estate consultant is their objective and unbiased advice. Since they do not have a vested interest in the transaction, they can provide impartial recommendations that are solely focused on your best interests. Whether you're a buyer or seller, a consultant will analyze market trends, property values, and other relevant factors to help you make informed decisions without any conflicts of interest.

In-Depth Market Analysis

Real estate consultants have a deep understanding of the local market and can provide in-depth analysis to guide your decision-making process. They stay updated on market trends, pricing fluctuations, and supply and demand dynamics. By leveraging their knowledge and expertise, consultants can help you determine the optimal time to buy or sell a property, ensuring you make the most informed and advantageous choices.

Customized Strategies and Solutions

Every real estate transaction is unique, and a one-size-fits-all approach may not always be the best solution. Real estate consultants recognize this and tailor their strategies and solutions to meet your specific needs and goals. Whether you're looking to maximize your investment returns, find the perfect home, or sell your property quickly, a consultant will develop a customized plan that aligns with your objectives.

Negotiation Expertise

Negotiating the terms of a real estate deal can be a daunting task, especially for those without experience in the field. Real estate consultants are skilled negotiators who can advocate for your interests and secure the most favorable terms. They have a deep understanding of negotiation techniques, market conditions, and industry standards, allowing them to navigate complex negotiations with confidence and finesse.

Access to a Network of Professionals

Real estate consultants have an extensive network of professionals in the industry, including lawyers, mortgage brokers, home inspectors, and contractors. They can connect you with trusted professionals who can assist you throughout the transaction process. This network ensures that you have access to reliable and reputable service providers, saving you time and effort in finding the right professionals on your own.

Managing the Complexities

The real estate process can be complex, involving paperwork, legalities, and various stakeholders. Real estate consultants are well-versed in managing these complexities and can guide you through the entire process. They will ensure that all necessary documentation is completed accurately and on time, minimizing the risk of errors or delays. Their expertise provides peace of mind, knowing that your real estate transaction is in capable hands.

Conclusion

Working with a real estate consultant can be a game-changer when it comes to navigating the world of real estate. Their objective and unbiased advice, in-depth market analysis, customized strategies, and negotiation expertise can help you make informed decisions and achieve your real estate goals. Additionally, their network of professionals and ability to manage the complexities of the process ensure a smooth and successful transaction. So, whether you're buying or selling a property, consider the benefits of working with a real estate consultant and unlock the advantages they bring to your real estate journey.

FAQ

1. What is the difference between a real estate consultant and a real estate agent?

A real estate consultant works independently and provides objective and unbiased advice to clients, while a real estate agent represents buyers or sellers and may have a vested interest in the transaction. Consultants focus on providing expert guidance and customized strategies, while agents handle the transaction process and negotiations.

2. How can a real estate consultant help me make better decisions?

Real estate consultants have in-depth knowledge of the local market and can analyze market trends, property values, and other factors to provide valuable insights. They can help you determine the optimal time to buy or sell a property, maximize your investment returns, and make informed decisions based on your specific goals and needs.

3. Can a real estate consultant help me with negotiations?

Yes, real estate consultants are skilled negotiators who can advocate for your interests and secure the most favorable terms. They have a deep understanding of negotiation techniques, market conditions, and industry standards, allowing them to navigate complex negotiations with confidence and finesse.

4. How do real estate consultants manage the complexities of the real estate process?

Real estate transactions involve paperwork, legalities, and various stakeholders. Real estate consultants are experienced in managing these complexities and can guide you through the entire process. They ensure that all necessary documentation is completed accurately and on time, minimizing the risk of errors or delays.

5. Can a real estate consultant connect me with other professionals in the industry?

Yes, real estate consultants have an extensive network of professionals, including lawyers, mortgage brokers, home inspectors, and contractors. They can connect you with trusted professionals who can assist you throughout the transaction process. This network ensures that you have access to reliable and reputable service providers, saving you time and effort in finding the right professionals on your own.

[flatsinkalyan]

https://www.flatinkalyan.com/blog/unpaid-property-taxes-during-property-sale-a-buyers-guide/517

[chrissycogan]

Welcome to Joel Freis, your premier destination for superior real estate services. As leading Real estate agents in Weston FL, we are committed to providing unparalleled expertise and personalized attention to every client. Our comprehensive range of services includes access to guaranteed realtors nearby, seasoned real estate brokers, and trusted consultants in your vicinity. Whether you're in search of rental properties, homes for sale, or in need of professional home staging assistance, we are your dedicated partner throughout the process. Moreover, we specialize in guiding first-time homebuyers, ensuring a seamless and informed experience from start to finish. Choose Joel Freis for a personalized and results-driven approach to your real estate needs. Let us help you navigate the market with confidence and find your perfect property.

[real-estate-consultants]

[boxoftheskyking]

So you might want to buy a house

DISCLAIMER: all of this is based on my own experience, and I am in no way a real estate professional. This is just some stuff that I’ve learned and some steps that I wish I’d known more about in advance, in hopes that it might be helpful for some people. I might get some terminology wrong, or make mistakes, but hopefully the general info is at least kind of helpful

ABOUT ME: because real estate stuff is specific. I am 33, single, employed, and live in a city in Minnesota, USA. This is my first home purchase, so most of this is specific to being a first-time buyer. I’ve been renting in this area for 15 years. I closed on my house in August 2023.

NOTE: The real estate market is super weird, and varies hugely from region to region, neighborhood to neighborhood, and week to week. What shook out for me will not be what shakes out for you.

This is SO LONG, so it’s under a cut, and I hope you will take it with the good faith in was intended!

Where do I start?

So you want to get started but want to talk things over first. This is a good idea! Even if you have friends and family who have bought before, it’s nice to talk to official type people where you can ask any and every question and know they’ve heard way dumber questions than you could ever come up with over the course of their career.

Employee Assistance Program -If you work a job that has benefits, you might have what’s called an Employee Assistance Program (EAP). Some companies get it along with their health insurance as kind of a bundle, but a lot of people don’t talk about it or know about it. -EAPs are all different, they’re basically a resource hub that you might have access to if your employer covers it. Some things they offer are limited therapy/counseling sessions (usually around a specific need like a breakup/death/life transition), consultation about adoption, personal financial advising, and consultation on housing and buying property. -I used my EAP to find a bunch of organizations that work to support first-time home buyers. The one I went with, NeighborWorks Home Partners, is specific to my area, but there were other options listed. -I didn’t actually talk to anyone related to the EAP, I just logged in to a site that had a bunch of links. But I could have talked to someone if I wanted -If you work a job and have benefits like health insurance, retirement, dental, etc it’s worth asking whoever does your benefits (and HR person, general manager, office manager, etc) if there is an EAP. Again, a lot of people don’t really talk about it.

Homebuyer Education -There’s a bunch of different organizations that provide homebuyer education. I didn’t know many of the details about homebuying, and it’s super confusing and anxiety-inducing, so I found it helpful -There’s a few ways to do this—I did both a one-on-one consultation and an online class -The one-on-one consultation was free from the org I chose. We talked on Zoom and went over monthly budgets (which I didn’t really need to do, I make budgets for a living lolllll), a soft credit pull (will talk more about this below) and talk about what goes into a credit score, and all the different expenses that go into a house and what that might look like. At the end of the day, it gave me the first sense of what my budget for a house might be.  -They did a soft credit pull (see below), which gave me a sense of my credit. It was more accurate than a thing like Credit Karma or my bank. -One note about the consultation - my down payment assistance program (will talk more about this later) required me to redo it, because I did it over a year before closing. So depending on your programs you might need to pay attention to the timeline. I also got a certificate saying I did it that I submitted to my assistance program. (Redoing it meant like a 10 minute call where the guy just helped talk me through my closing documents) -It cost me $75 to take an online class that took a few hours. It was in 8 parts and included watching some videos, reading some short articles, and then taking quizzes. You had to get 80% right to pass, and you can redo it if you need to. It went over most of the things to know and had links to read more. I also got a certificate for that to submit, and it didn’t matter how much time had passed for my assistance program. 

Credit -I’m not going to explain everything about credit, because it is complicated -A soft credit pull is when they check the three major credit reporting agencies to get a general sense of your score. It’s not 100% accurate. -A hard credit pull is what lenders will do when you actually go in for a preapproval (more below). It will be the most accurate. A hard credit pull will have an affect on your credit score, so if you’re ever doing something that involves a hard credit pull, it’s best to do all of that within a month so that it only really hits once. -There are 3 credit reporting agencies, and your score will be different from each one. Why? no idea. They all have a different maximum number that your score can be. Why? again, no idea. It’s around 850 though. -Generally things get easier to do if your score is above 680ish. It’s not like you can’t get a house with a lower score, but sometimes there are other hoops to jump through. -I’m not very useful when it comes to buying a house with low credit, but I bet there are people who are!  -You build credit by owing money and paying it regularly. It’s annoying and dumb, but it’s the way it is. Paying rent on time builds your credit, having a credit card that you pay off every month builds credit, paying utility bills that are in your name builds credit. (Note: This stuff has to be in your name for it to count, so if you pay your roommate every month for the electric bill and it’s in their name, it won’t count. So if you’re in that situation, you may want to put something in your name like a card to build your score). Paying off a car or phone or student loan also helps. -I have really good credit, and I’m neither rich nor special. I just set everything to autopay, including my credit card bill. I use my credit card for most things that I just shop for in the world like groceries, etc, and then I have all my bills autopay from my checking account. How did people do this shit before autopay? I have no idea.

Mortgage vs. Rent -The benefit of paying a mortgage vs rent is that you’re building equity if you pay into a mortgage. This is a surprise tool that will help you later. Which means that if you are in a situation where you need money, you can borrow from what you’ve paid into your mortgage. So like if you get very sick or have a kid going to school or want to throw a big party, you could get a loan based on your equity -Equity is confusing, don’t ask me about it -For me, I pay a bit more per month than I did in rent at my last place. BUT mostly that’s because I’d been living in the same place for many years and my rent hadn’t gone up that much. One of the first things I did when considering buying is look at how much it would cost to rent a house like the kind I would want to buy. And those rents are over what I ended up paying monthly to my mortgage. -Keep in mind that you will be taking on some extra expenses that you don’t have as a renter (like maintenance, repairs, etc). Note: if you’re buying a condo, that’s different. I don’t know shit about that. -So for me, paying my landlord every month for him to occasionally (half-assedly) fix stuff (on his schedule, where he decides who to hire or how to do the work, where he is a stranger in my space for the duration) was not as appealing as me paying the bank every month so I can have some equity  -The first 6 months of owning a house feels like hemorrhaging money out of every orifice, but the majority of these expenses are one-time or rarely-reoccurring things. But I didn’t quite prepare for this the way I wish I had, so when you’re thinking about building your savings to buy a house, you’ll want to consider things like furniture, small repairs, pest control, duct cleaning, gutter cleaning, many many visits to a hardware store, realizing some of your stuff doesn’t fit the way it did in the old place and you have to get new things.... etc. 

The Money Stuff

Lenders -It might be appealing to start by looking at properties, but especially in a hot market that’s not what you want to do first -The first thing to do is to look at lenders! Lenders are basically the institutions that give you the loan to buy your house, and the ones you will be paying monthly for the 30 years of your loan (or until you sell) (or die I guess) -I talked to like 13 lenders, because I love an excuse not to move forward on scary things, so I just do research and research and research until I run out of steam. So i don’t necessarily recommend doing that. But you definitely want to talk to at least a few. -Lenders can be banks (like Bank of American, US Bank, Wells Fargo, etc), credit unions (like Affinity, RCU, etc), or smaller mortgage companies. -You can also talk to mortgage brokers, which are companies that have agreements with different banks or companies and can shop around on your behalf. -I got my list of people to talk to from: my consultation (above), friends who had bought/were buying, friends who like their bank/credit unions for other things -You’ll have a specific person you’re working with, so who that person is matters. -Things you’ll want to ask about 1. How is their communication? How big is your team? If you see a house on a Saturday and they need offers by Sunday afternoon, how likely is it that they will get your preapproval letter ready in time?  2. Are they good at explaining things to you? Do they work with first-time homebuyers a lot? Do you feel dumb talking to them? Are they mortgage nerds and genuinely seem like they care about finding you good deals and cool programs? 3. What are their interest rates at the moment? Know that this will change between now and the time you have the option to lock in, so don’t put too too much weight on this 4. Most importantly: What assistance programs do they have access to? Everyone has different ones, which we’ll talk about below. Don’t assume that because a bank is huge that they have a ton of assistance. Some small places have really great programs. Likewise, some of the banks that are more well-known for big ticket mortgages (like Jumbo loans for mansions, etc) actually have crazy good programs for low-income and first-time home buyers, because they need to show that they also work for the little guy -I ended up going with a small local mortgage company because they had a kickass program ($10,000 in down payment assistance that is forgivable in 5 years. So as long as I don’t sell my house in 5 years, I don’t have to pay that back). -You may be tempted to solely base your decision on who to get a mortgage from on the politics of the lending institution. This is a lovely instinct. HOWEVER, your mortgage can be sold to anyone at any time. Within a month of moving in, my mortgage was sold to Freddie Mac. I still pay the credit union that is the servicer of my loan, but it all goes back to the big guy in the end. So basically you have no control of where your money ends up. (or maybe you do somehow, ask someone else about that) -At the end of the day, you should apply to like 2-4 different lenders. Once you fill out your application, they’ll do a hard credit pull and look at all your income, bank accounts, etc, and they’ll pre-approve you for a certain amount of money. -This is really where you’ll get your house-hunting budget. There can be a pretty big range in what you’re approved for! One lender approved me for $220K (”maybe $225K” they said). Another approved me for $280K. You’ll want to pick a lender based on all the above information, along with the amount you’re approved for. Being approved for $280K doesn’t mean that’s what you should spend (you can, but I don’t recommend it), but it does mean that your budget can be more like $250K, compared for $225K. You’ll want to look around at your area to see what’s reasonable for you.

Downpayment Assistance -for a lot of first-time buyers, the downpayment (and closing costs) is the thing that’s standing between you and being a homeowner. So that’s what a lot of organizations focus on -The more you put down (i.e. pay right off the bat), the lower your loan will be, and therefore the less your monthly payment will be. So it’s worth it to try and pay down as much as possible -(Likewise, if you buy and house and then get a windfall and are like What do I do with all this cash, paying down your mortgage will save you money) -This is because you pay MORE in interest than you pay for your house, so the less your loan is, the less you’re paying in interest. If you find a way to pay off your loan early, you end up paying less interest! And you win against the bank! If you get a raise and are able to put even like an extra $100 towards your mortgage each month, that can cut years off your loan and build your equity more quickly, thereby cutting down on the interest you end up paying. So unlike paying more money to a landlord who will eat it with a spoon, maybe more in your mortgage early is helpful for you. -Lots of downpayment assistance (hereinafter DPA) is stackable! So you can qualify for multiple programs and use them all -Many have an income requirement (for one of mine, I need to make 80% of the median income in my area or less). -Many are location specific. Some of those you can look up in advance and try to focus on properties in those areas. Some are super super specific, like this block only, or these specific addresses. That’s true for one of my programs—whenever I was considering making an offer on a house, I’d email my lender and she’d tell me if that specific address counts for the assistance program -At the end of the day, I got $30K in assistance. $10K of that is forgivable in 5 years (so I don’t have to pay it back unless I sell in that time). The other $20K is from two separate no-interest loans. This means that if I sell the house, I have to pay back that amount. Ideally by that time I’ll have enough equity in my house that will cover that. -Interest rates are super high right now, so if you’re buying now you want to think about refinancing. Refinancing is basically when you negotiate a new deal with your lender. There are fees and things (I’ve never done it so IDK), but the benefit of doing that is getting a lower interest rate. So my rate is 6.25%, and in 5 years if the rate goes down to like 2.3% I may want to refinance so I’ll be paying less in interest over the course of my loan. -If you’re getting DPA that’s a loan, you will want to ask what happens when you refinance. They’ll probably tell you either you have to pay it back when you refinance (so don’t get stuck in that situation if you don’t have that $$$ on hand) or they’ll say it’ll be subordinated -this took me like weeks to get a straight answer on wtf is subordination. Basically, you pay your loans off in order, right, so you pay your mortgage and then after that you pay off your DPA loans. So if you refinance, then your mortgage ends up being “newer” I guess. So in order to put the mortgage back “on top” of the pile to pay off, so to speak, you pay that (and it’s interest) first, the DPA loans get shoved down underneath the mortgage on the list. 

Interest Rates -You can’t control interest rates. Honestly markets are so volatile and the world is so close to ending, I would say it’s not worth waiting for them to go down. Maybe they will, maybe they won’t. No one fuckin knows -So many global, political, circumstantial things affect these, and who knows what might happen. My friends happened to be closing during the time the debt ceiling almost freaked out, which was outside of their control, so they got screwed with a super high rate.  -After you get an offer accepted and you’re working on setting up your loan, you’ll usually get the offer to “lock in” an interest rate. Basically, if you have reason to believe rates will go down before you close, don’t do it. if you think they’ll go up, then do it. Who fuckin knows. I did it bc I didn’t think it was likely stuff would go down. And I haven’t looked it up bc if they did I don’t want to know -There are more complicated things you can do with interest rates, like “floating down” and APRs and other shit. Don’t ask me about them, I do not know.

Looking for houses

Realtors -Who your realtor is MATTERS y’all. Here is what a realtor will do: 1. Give you access to a Super Awesome online listing of properties (much better than Zillow! Updates constantly). They will set your search filters based on what you specifically want and your specific budget. That includes size, amenities, location, school district, garage, yard, etc etc 2. Arrange showings for you. Sometimes you might want to go to open houses, but you don’t have to wait for those to see a house. You tell your realtor what you’re interested in and they can set up a time for just you and them to see the place 3. Access houses with funky lil lockboxes. Heist teams should include realtors—I’ve seen my guy get into the weirdest of devices in no time 4. Recommend places to you 5. Talk on your behalf with the seller’s agents or the sellers themselves 6. Take you all the way through your offers, acceptance, all the way to closing (basically, most of the rest of this post) -I am really lucky that a friend of mine is one of the best realtors in town (in my humble opinon). It really worked out for me, because when it came to negotiating price and terms with sellers and their agents, people already respected him and his expertise because he was a known fixture in the field. I’m not saying that an early-career or unknown realtor is bad, but reputation can do a lot of heavy lifting for you (as you’ll see later) -My realtor, S, is not only a friend, but also someone who has owned, rented, built, remodeled, bought, and sold everything from high rise condos to alpaca farms to tiny houses built in shipping containers. That experience was super useful to me for a few reasons: 1. He was very very good at looking at a roof, foundation, or basement, and saying “absolutely not, this is a mess” —I could only rarely see what he was talking about because I know nothing 2. If I looked at a space and said “what if I wanted to add a shower there?” or “could I make this basement area a bedroom?” S was able to pretty accurately estimate what that would cost. So that became part of the math as we looked at places, which was really useful and saved me so much time doing research on my own 3. He’s a queer artist who grew up in a nontraditional family and has lived many fascinating and non-standard lives. I only mention this because when I wanted to talk about my future and what my home could look like, I didn’t have to worry about S making assumptions about what “family” consists of or what my “role” would be. And as a single woman who is looking to adopt, that really meant a lot to me! -(side note if you’re in the Twin Cities and want S’s info, hit me up) -The most important thing about working with S, for me, is that he never made me feel foolish. I gradually got really good at talking about and looking at houses, but even when I asked questions that were obviously, or made incorrect assumptions, he never treated me like I should have known the answers, or like the process was supposed to be easy. And the guy genuinely loves houses!

What to Look For -You’ll want to find a house that fits what you want your life to be, not necessarily what it is at this moment. So think about what you want your day to day to be like. Will you be working from home at all? Do you have or want kids or pets? Do you want to be a person who hosts out of town guests? Do you want to have band practice at your place? Do you want to host D&D? Large holiday meals? Do you want to garden? Grill? Have a firepit? Do you have a car, or do you think you will? Do you have physical access needs based on your body, like particular types of doorways, floors, stairs, size of spaces, etc.? Are there furniture pieces that are important to you that you want to plan around? (For me, I have an electric piano, and placing that was super important).

-I’m a single person, and I want to adopt a kid, and I know I’ll need a roommate in order to afford my mortgage. So it was vital for me to find a house that either had 3 bedrooms, or had 2 bedrooms and a 3rd could be easily finished/added. it was also important that my roommate would have their own private space that was decent size for me to charge rent -Think about all year round. I live in Minnesota, and you better believe snow was top of mind at every house. As a renter, my landlord was supposed to deal, with anything over 3 inches (did he always? of course not). Now it’s my responsibility. What kind of trees are around? Do you have big storms? You need to pay attention to big branches and power lines. Is it getting super hot where you live? You probably want to prioritize central air, or shade.

-On the topic of central air - It’s pricey to add it to a house that doesn’t have forced air heat, because you have to add all the ductwork. If that’s the case and you don’t have that $$$, you can either go with window units or something called a mini-split. It’s basically mini air conditioners that heat floors separately, but have a better range than a window unit. -Does the house have a yard you want to deal with? How about a sidewalk you have to shovel (woe unto you in corner lots) -How does bussing work for the schools in your area, if that matters to you? -Some houses will be empty. Empty rooms look smaller than rooms that have shit in them -Some will be staged. People who stage houses don’t fill them with STUFF, so you’ll notice few bookcases, coatracks, etc. Think about the stuff you have, not the stuff they put in the house. -You will be AMAZED at how some people live. Seriously. Some people have a giant ass oak tree literally leaning on their roof and just deal with it. Some people have 3 bedroom houses, and the only bathroom is only accessible by going through one of the bedrooms. Some people have their fridge down a flight of stairs from the kitchen. Some people have their laundry in the basement, but the only access to the basement is through an outside door. In some climates that’s fine, but I live in fucking Minnesota -I had the instinct when I started looking that I needed to be entirely open to everything, and not be too picky. After about two weeks of looking (and S had me going to like 4-9 showings a day some days), I got real picky real fast. This was helpful for S and helpful for me, so we weren’t wasting time on houses that weren’t contenders. I learned that the houses’ feelings did not get hurt by me not wanting to buy them -Likewise, I started out being entirely open about where I wanted to live. Anywhere in the Cities or near suburbs, I said. But then I went to see houses in these places and realized I did not want to drive that far to work, or that the only way to access places was by the highway, so if it shuts down or there’s a bad snowstorm, I’m stuck. -To that end, i found it really helpful to make myself a Google map (you can make some and save them) of where I go. I included work, church, my bandmates houses, bars I like to go to, and my friends’ houses. Then whenever I was considering a house I’d plunk it on the map and see how it lined up with the realities of my life. -We’ll talk about offers in a sec, but remember that people can technically list their house for whatever number they want. So it’ll be up to you and your realtor to decide what’s fair. I mention this here, because a house may be listed way cheaper than others on your list—there’s likely a reason for that, but if it looks promising, give it a try! It could be that the reason it’s listed low doesn’t matter to you (i.e. it’s next to an annoying business that you don’t mind, or doesn’t have a garage but you don’t have a car, or the other houses int he neighborhood have yards and this doesn’t). Or it could be the seller needs to move it FAST and you can take advantage of their situation. -If you’re a handy person, a cheaper house might be a great option if fixing it up to be what you want is affordable for you. (Again, this is where a realtor like S can be super helpful to come up with those costs). For me, I didn’t want to do jack shit to the house, and I knew I’d be paying for that. (not that I don’t have a whole spreadsheet of eventual projects....but that’s invevitable) -Likewise, it can be helpful to set your filters to include houses a bit above your budget. Some people list their houses WAY higher than they should, so if you see a property that’s been on the market for a while (when I was looking the market was hothothot, so “a while” could mean anything over a week/10 days. In a slower market, you’ll want to look at those that have been listed for 30+ days), it might be worth checking out and then offering low. Chances are the seller will need to reduce the price anyway if they’re not getting any bites, and you could get a good deal by jumping in before they do that. -IDK where else to put this, but measure the garage. I didn’t, and I discovered like a month ago that my car (a little compact Toyota) is too long for my damn garage. It’s not that I wouldn’t have bought the house because of that, but I could have included it in some negotiations.

Offers -So you found a house you like! Now the scary part. 

-You’ll get a sense of the market from your realtor, and they can usually advise you about how quickly you need to move on a potential offer. Sometimes a seller will give a deadline themselves: they call this “best and highest.” So they’ll say “we’re hearing offers at 3pm tomorrow” or “we’re asking for best and highest on Monday.” Generally that’s the cutoff for receiving viable offers. -In the market when I was buying, it was pretty common for houses to sell for 20-40K over the asking price. Again, some houses would be listed too high or too low, as I mentioned before, but on average that’s what I was working with. There were also a TON of offers on all the properties I liked. The lowest number of offers on a house I tried to get was 5, the highest was 19. That is kind of insane. In a slower market, when you’re not competing with that many people, you can offer closer to the asking price (or some people just say “asking” as in “20 over asking”) -The first thing I did when I decided to put in an offer, was to talk to my realtor so he could start getting the paperwork together. You can’t just email the seller and say “i want your house,” there are legal documents that have to be drawn up to make it a binding agreement if it’s accepted. -My folks bought their house without a realtor and did all the negotiating, etc, themselves, but they still needed a realtor friend to do the paperwork for them. If you go that route, you can probably do more informal offers, but IDK how that works. -The next thing I did was contact my lender for the following things: 1. I gave them the address and asked “Does this fall within certain DPAs?” 2. I asked them to run some numbers for me. Usually it was a version of: “What would my monthly payment be if I offered $240K and put down $5K in earnest money, and if I had $20K of downpayment assistance? How about if I offered $245K or $250K? What if I only put down $2500?” This helped me figure out what kind of offer I could reasonably make, and what it would actually cost me monthly if I got the house. 3. Then, when I decided what I wanted to offer, I would ask for a preapproval letter that includes the address of the property, basically saying “hey we’re a lender and we will give Jay a loan of $XX to buy this house, pinky promise” -I copied S on all my communications with the lender, so he knew what I was considering and he could give advice -(sometimes I saw a house on Friday and had to make an offer by noon on Saturday, leading to me trying to call my lender at 9am on a Saturday morning, which sucked. This is why knowing who’s on your lender’s team and how to contact them matters) -There’s no hard and fast way to decide on a good offer, because you won’t know how many you’re competing against. Sometimes your realtor might be able to chat with the sellers agent and find out how many people saw the property, if they have a sense of how popular it is, but sometimes you want. You want to be able to afford it, but also not go so low that you won’t even be considered. -Usually, your realtor will ask you to write a love letter to the house to include in the offer. “Dear seller, I love your house because of blah blah blah, I can see myself doing blah blah blah, specifics specifics.” Do these matter? I don’t feel like they do but whatever. Make a template and update it for each offer. -One thing to note about this is that you DO NOT want to give information about yourself regarding your status in a protected class (i.e. “we’re a young queer couple; I’m a neurodivergent person; I’m an immigrant/veteran/belong to X racial group”). It might seem like that would be helpful in certain areas, but sellers aren’t legally allowed to pick a buyer based on those things, so it ends up working against you.  You can talk about what you do as a job or as a hobby, if you’re an artist, if you’re a parent, if you have pets, if you know who else will be living int he house with you, etc. You can hint at things. But S was very clear with me about keeping it pretty general and about the house. -Once you’ve decided on the $$$ you’re offering, you need to decide if there’s anything else to add to “sweeten the pot.” For some people, that’s saying “my timeline is totally flexible, so if you need to close in a month that’s fine, and if you need to close in 4 months that’s fine.” A lot of people choose to waive inspections. -OHHHHHH Ye olde inspection. Dear God. -The inspection is basically a thing where you hire a professional to look at the house before you officially seal the deal, and they tell you if there are things you need to be concerned about. So if the inspector comes in and says “yeah this roof is going to cave in in a year,” you can use that in your negotiation and say “look, I’m going to lower my offer by $15K, because I will need a new roof in a year.” then it’s up to the seller to decide if they want to agree to that, or if they want to try again to find a buyer who hopefully would not get an inspection. -to “waive an inspection” means that you’re agreeing to skip this step -OK so my instinct was always “I will NEVER waive the inspection,” and a lot of people feel that way. HOWEVER, I did not get certain houses because the people who did offered exactly what I did and waived the inspection. There was a buyer who had made SEVENTEEN OFFERS and beat me out on a house, and they got that house after SEVENTEEN OTHER TRIES because they waived an inspection. -I did get an inspection with my house, which was lucky and also thanks to S being a great negotiator. -I waived it on one of my offers -I would say I’d be comfortable waiving an inspection if: 1. You or your realtor knows shit about buildings, codes, etc. S knew a lot, so was able to look at things like furnaces, windows, basement beams, foundations, etc etc. 2. The important parts of the house are easily visible. Usually this means an unfinished basement. if the basement is finished, you probably can’t see all the structural things you’d need to 3. You’re already planning to do a bunch of work on a house, so you’re offering a lower bid and budgeting to do renovations anyway -At the end of the day, it’s your call. More about inspections below. -Most people who buy houses have mortgages, meaning that they can’t just drop $250K on a house. However, some people got it like that, so they make what is called a cash offer. Cash offers will win out every time, because they are usually higher, are easier for the sellers, and will often waive inspections. Depending on your region and your budget, you may or may not see this. I got screwed SO MANY TIMES and so did my friends, by all-cash, no inspection offers. The majority of these are from people who are buying properties to rent out or Airbnb - they won’t live there so they don’t really care if it’s solid, and my budget range seemed to be about where rich people who don’t want to flip a house felt comfortable buying. It was annoying. -but hey if you got it like that, go for it. -Once you have all the terms of your offer figured out, your realtor will send you the official offer paperwork that you’ll sign (prob. digitally). Then they’ll send it over to the seller and be in charge of all that communication. If the seller comes back with a counter, or with questions, your realtor will bring that to you. They may advise you, but at the end of the day it is up to you what you’ll offer and what you’ll accept.

You got accepted!

-Holy cats, they said yes to your offer and your terms! This is a huge moment to celebrate! I cried! And obsessively looked at pictures of the house over and over -The seller may come back to you with some proposed adjustments. In my case they wanted to round the selling price up by $1K, which I agreed to. (IDK why they cared, but in the grand scheme that was fine). They also wanted to change some of the verbiage in the offer that didn’t actually affect anything. -The first thing you’ll need to do is put down the earnest money. That is usually held in a trust or something similar until closing. But basically, if you said you’d put down $5K of your own money in the offer, you have to prove you have it right away. So don’t offer to put down earnest money that you don’t have! -The higher this number, the more appealing your offer generally is -There are a lot of things that will need to wait until you close, so this period of time feels really weird -You’ll have a purchase agreement (along with any addendums or changes) that basically says “I’m Jay and I offer $XX, the seller agreed to the price and the terms, we’ll see how it goes from here and if it all goes well, this deal will go through” -I’m gonna say it now, don’t ask me about escrow. Escrow is basically like an account where money lives between you and the bank. You pay extra into this account so that if something happens and you can’t pay what you agreed, the bank still gets the money for a certain period of time. or something like that, I don’t know, it gives me a headache. I’m sure other people understand it better.

Next steps

Inspection -If you included an inspection in your offer/purchase agreement, you’ll want to set that up within a few days. (Don’t worry about booking “last minute,” inspectors pretty much always work on that kind of schedule. Very few people are booking inspectors weeks in advance. This was something I felt bad about, but it’s okay)

-Inspections are pricey, and usually have different packages that include different things. I chose to do the sewer scope bc I had a friend who found some crazy sewer issues and I didn’t want to deal with it. Your realtor can probably give you advice on what you might need. -Inspector look at a lot of things: all your systems (like heating, cooling, pipes, electricity, etc),  your windows, roof, foundation, gutters, attics, floors, plumping, appliances, etc. -They do NOT open walls/ceilings/floors, etc. So if it’s not visible, they won’t be able to report on it.  -They’ll send you a big ol’ report, and if you can be there with them they’ll do a walk through with you to talk over big issues. Your realtor should come to that as well, as they might have good questions. -After you have the information, you have to decide if there are any big issues that need to be addressed. The inspector will flag things that are a problem legally, but it’s up to you how much you care about them. Some will be easy fixes. Others might be deal breakers that mean you decide to walk away from the property entirely. Most things will be in the middle.  -Note that some things are legally “issues” but practically may not matter. There are certain outlets on the outside of my house that aren’t right, but I don’t intend to use them much and if it turns out I need to, it’s not that expensive to switch them out. My basement stairs are an absolutely death trap, but my laundry is upstairs and so i dont really need to use them much. I could spend like $4K to replace them, but I don’t care at this point, and it’s not a big issue for me. But legally they are terrible. -Some things may be an absolute problem that the seller needs to deal with before you’ll agree to by the house. -You and your realtor will come up with a list of things you want to tell the seller to fix before closing. They might fight you on some of them, and again that’s why the realtor being a good negotiator matters. -Generally, you want to ask for fixes on the important things, without asking for every little thing, so the seller doesn’t decide you’re too much trouble and they could probably back out and get a better offer that wouldn’t cost them as much in repairs. -for me, the garage door was busted so they defnitely needed to fix that. There was a pipe that was put in wrong that was a quick fix. And there were birds in the attic, so they needed to clear those out and go through and block up all the entry points in the room. All of these requests were reasonable, and the sellers agreed to them. -At this point, it’s up to you if you want to pay for a re-inspection (i.e. the inspector coming back to verify that they did all the work they were supposed to). I didn’t—instead I had them give me all the receipts from the work that was done along with photos and video of the work. That way if something is a problem in the future, I can contact the companies that did the work and take advantage of warranties, etc.

Home Service Warranty -Speaking of warranties! There’s a thing called a Home Service Warranty that you’ll need to decide on. Mine is through American Home Shield. Basically this is a warranty that covers things in your house. There are different levels of coverage, so some just cover the big things like windows/roof/furnace/water heater/etc. As you upgrade, it’ll include things like stoves, fridges, dishwashers, etc. -If you’re getting your own warranty, you basically pay a certain amount per month for the coverage. Then if any of the covered things break down, it get’s fixed for free (plus a small service charge. For me that’s $125). So if your inspector tells you “hey, you’ve got about a year left on this water heater” or “the furnace has some issues that might come up in a few years” you could save a BUNCH of money by having this coverage. -My realtor got this warranty included in my purchase agreement, so the seller is actually paying for a. year of my coverage at he upgraded level. This is SICK AS HELL and not every realtor will think of it—definitely mention it to yours. I didn’t even think of it as an option. Basically what this means is that if any of my stuff breaks this first year, I can get it replaced for very cheap AND I don’t even have to pay the monthly coverage fee. -When I moved in, my shower was broken. I tried to fix it, but the called AHS and I only paid $125 for a plumber to come look at it, order parts (which would have been pricey since my house is pretty old), and fix it for me. I hate my fridge, so I have a goal to break it this year so I can get a new one for free.

Appraisal -Okay, so you got the seller to agree to your fixes, everything is moving apace. It is time for the GOD DAMN APPRAISAL -(for many people, the appraisal is fine and is not GOD DAMN anything. For me, it was a nightmare and I didn’t sleep for like 2 weeks) -Okay so what is an appraisal. Basically, the seller said “my house is worth $XX” you said “I’ll pay $XX for it.” Your lender said “we’ll give Jay a loan for $XX.” But now someone else has to look at the house and determine if it’s a fair price for the house. This is what really determines the loan you’ll get (this is also why what you’ve gotten so far is a pre-approval. They’ve basically said “you’re capable of paying back a loan of $XX, but we need an outside agency to determine if this house is worth is”) -The appraiser will look at the house, inspection reports, and other sales of similar houses in your area. Ideally, this helps them determine if the price you and the seller have agreed on is in line with what is reasonable. -Banks are not going to give you a $400K loan on a potting shed in a ditch -It’s all complicated and this is where a lot of shit in the Housing Crisis came from -Basically, you want the appraisal to come at or higher than your purchase price. (if it comes in higher, do a little dance bc you got a deal) -If it comes in lower, you can be in trouble. That’s what happened to me. -A note about rules & regs - lenders cannot talk directly to appraisers. This is because of the housing crisis and all the shady backroom deals that were happening (i.e. if you appraise this house at this price, we’ll give you Mr. Appraiser Guy some kickbacks from the extra money we’re making in mortgage interest or whatever). In practical terms, this means it takes FOREVER to get messages to all the parties involved.  -If the appraisal comes in low, you can ask for a reappraisal. It’s up to the appraiser if they agree. There are rules about this. -What Happened To Me: OK so my house is in a historically Black and immigrant neighborhood (read, historically redlined). This means a lot of the properties here are undervalued based on other locations. In a hot market, even undervalued properties can go up in price in a big way. In a slow market, that doesn’t happen so much. My appraiser only wanted to pull comps (meaning comparable sales of similar houses in the same area) in my exact neighborhood. However, there hadn’t been any sales of similar size/age/etc houses in my exact neighborhood since last winter. Guess what the market is like in the winter in Minnesota! Fucking SLOW boy. So these comps were coming in like $20K lower than my agreed price. So my realtor and lender took a look and said “look, if we widen out a little bit to these nearby neighborhoods, we can see all these more recent sales that are closer to our price.” It took two weeks of back and forth to get the appraiser to agree to add some of these comps to the appraisal. He was really reluctant to look outside my immediate area, because my neighborhood is of “lower value” than the surrounding areas. Structural racism, baby. Not against me, but against my neighbors and everyone who’s lived in this area for the past 150 years. Hooray. Finally, I got a re-appraisal that was $8K lower than my purchase price. So I was in a pickle. I had an agreement with the seller saying I’ll pay $XX, while the bank is now saying “we’ll only give you a loan for $XX-minus-$8K.” So either I need to come up with $8K MORE of a down payment in earnest money, or I need the purchase price to go down. Or i need to find more assistance. HERE IS WHERE HAVING S MADE ALL THE DIFFERENCE. He went to the seller and basically used his status and significant experience to say “Look, you can either agree to lower the purchase price by $8K, or we all walk away. If we walk away, this means you have to re-list the house, wait for more offers. And then even if you get an offer as good as or better than Jay’s, that person will still need to go through the appraisal process. So...  you’ll probably be right back here. The only chance you have of skipping appraisal is if someone comes in with a cash offer, meaning they won’t need a loan and no bank is involved. But for a lot of the reasons the appraisal is low, those types of buyers (who often want rentals/vacation rental properties) ain’t looking to buy in this neighborhood.”

(or that’s what I imagine he said. It was probably smarter)

ANYWAY, all that to say a MIRACLE occurred, and the seller agreed to lower the purchase price of the house by $8K. I can tell you the whole story of how I found out over a drink sometime, but let me tell you I wepttttttt

-Anyhow, once the appraisal is good and you’re pretty sure the deal is going through, you gotta get insurance. call a bunch of places, figure out what coverage you need, see if it’s cheaper or easier to put car/life/etc in the same place. You have to have insurance if you have a home loan - basically the bank owns the house, so it’s in their interest to have it covered in case of disaster.

Closing

-I’m going to be quick on this, because it’s super technical and I only kind of understand it. -Closing is basically the day where you sign all the paperwork, after which the house is yours! Then you can start moving, renovating, decorating, whatever you want. -One of the things that’s part of closing is the Title and Title Insurance. Basically, you need to pay to have the paper that says you own the house, and then you have to pay for insurance on that piece of paper. Why. IDK.  -At this point there’s so many random fees and charges, I just kind of looked at the totals and made sure nothing was way out of range of what I expected.  -A few days before closing, you should have the following: 1. receipts/evidence from any fixes made to the house or a re-inspection report 2. Closing disclosures, which basically means any information that’s attatched to the deed for the home. This can include unpaid property taxes, any weird liens on the property, any easement agreements with neighbors you should know about, etc. 3. All the paperwork you will sign! -It is in your best interest to read ALL OF IT if you can. (the title person was surprised I’d read mine, which I found super worrying lol) -If you are buying a house by yourself, you will not BELIEVE how many times you will read “Jay, A SINGLE PERSON, is buying a house ALONE AND BY THEMSELF, as a SINGLE UNMARRIED ALONE PERSON” Very judgy. What are you, my grandma? -One thing about disclosures—it’s up to your title company to do research on weird shit that might be attached to your property. You can technically choose your title company, but I wouldn’t not recommend looking for the cheapest option if the company doesn’t have much of a track record. I had an issue come up with a payment the seller owed that was delayed, and my title company had to be the one that caught that. My friend and his husband got in trouble because some seller 5 years ago didn’t pay property taxes, and so the IRS came for THEM. The title company should have caught that before they closed and had it dealt with. They won’t end up paying it, but it’s a huge pain and they have to argue with the IRS which is never fun. -On closing day, you’ll do a final walk through with your realtor. This is your last chance to bring up any issues! You DEFINITELY want to do this walk through. If the seller left the door unlocked and an entire family has taken up residence in the living room, you need to know! If the contractor they hired to fix the plumbing knocked a new whole in the wall, you need to know! Don’t expect that the seller will tell you about any new issues that they caused. -This is your last chance to say “Hey, there’s a new major issue that wasn’t reporting, i ain’t signing shit until we re-negotiate” -If you find yourself in this situation (hopefully you won’t!) PLEASE don’t be afraid to say something! Don’t worry about how much time and money has already been put into it, or about calling out a seller who is acting in bad faith or fucked somethign up. This is your house! It matters! And your realtor should have your back. -But most of the time, the final walk through is fine! Then you go somewhere to sign all the paperwork. If you’re like me and have 3 different types of DPA, it will be two giant folders worth of paperwork.  -Once you sign the paperwork with the Title Company, they’ll put the paperwork through. After that happens, the bank should transfer the whole ass agreed amount to the seller. Also, if your DPA is in the form of other smaller loans from other sources, those should be paying to the seller at the same time. -in MY case, one of my DPAs took 3 hours to process for some reason, so I had the most anti-climactic closing ever. I signed everything, waited for an hour and a half, and then they were like “you can go, we’ll email you when you officially own the house” So I just awkwardly hung around and ate pancakes until I got the email. -Let’s say you have a relative who wants to help you out with your downpayment (Yay! Every little bit counts!) Or let’s say you’re living with someone who doesn’t want the house to be in their name, but they want to contribute to these initial costs. You’ll want to talk to your lender about this as soon as you know about it. There is special paperwork for “gifts” that basically let’s it go directly to you downpayment but it doesn’t count towards your income. So if Grandma Bob says “I got $10K for you” and you just deposit the check in your account and plan to pay $10K more in earnest money, that will suddenly look like you have $10K more money to your name, so might change how your loan and DPA shake out. But if you get Grandma Bob to sign a particular document and give you a certified check, you can just give that right to the Title person and it goes right to making your downpayment bigger, therefore making your loan smaller! Thanks Grandma Bob! -”Cash to close” is essentially what you are paying at closing via all sources. So that’s your downpayment (including all assistance) any gifts, your earnest money, etc. Sometimes you have additional closing costs. They may be covered by DPA, or you may be on the hook to write an additional check. You’ll know this in advance. -Hey, check it out, you own a house now! -(keep all your paperwork0 -They’ll give you a document you have the file with the city called Homestead filing, basically telling the city that you own a house and you live there.

NOW WHAT?

-Now I’m done telling you things. Feel free to DM me if you want to talk more, but also talk to professionals in your region who know things. -I started writing this post before I closed in July 2023. It’s now mid-November, and I’ve been living here for 3 months. Here’s some stuff I’ve learned that might be helpful: 1. It’s good to know what kid of walls you have (drywall vs. plaster and lathe, etc) because that determines how you can hang things on them. Also if you have plaster walls, just get a cheap magnetic stud finder. The fancy electronic ones often don’t work 2. It’s good to have a drill. It just is. 3. If there’s a big project you need done (say your garage is too short for your goddamn car), you may qualify for a home improvement loan from the same kind of orgs that give DPA. I’m doing it just because I don’t want to drop $3K in one go. Technically I have 4 years to pay it off, but I’m going to make larger monthly payments and pay it offer quicker than that.  4. We can talk about contractors and permit and zoning all day. Suffice to say, it’s good to look up who to talk to at the city about construction permits, and they can be both incredibly confusing and very nice. Often at the same time. 5. If you’re gonna have a roommate or partner or non-child family member who is paying you monthly to help with the mortgage, DRAW UP A LEASE. You want shit in writing, and they have rights as tenants that need to be respected. Many a relationship has been saved by PUTTING SHIT IN WRITING. (there are templates you can find) 6. FEELINGS: People always tell you “You won’t know how you feel about X until you do it.” Getting a dog, moving away from your folks, living with a partner, whatever. I am here as an old man to tell you, they are right. I had no idea I would have such BIG FEELINGS about this lil old house. When I come home and my roommate has the lights on and it has a glow, I feel so much that sometimes I cry! Setting things up, making decisions about organization, learning how to be in my space, means so so much more to me now than it ever did when I was renting. The stress is greater, too, because I have to make all the decisions! It’s exhausting! But every day in my house I am so happy to be here, I’m so glad my other offers weren’t accepted, because this is the best of the houses I looked at. It is my 117 year old baby and I love it forever.

Also I never want to do this again lol I’ve decided to die here.

[mariacallous]

Strange things are happening in Russia these days. In early October, the country inked a deal to sell chickpeas to Pakistan in exchange for mandarin oranges. A few weeks later, the Russian government advised international participants traveling to the southwestern city of Kazan for the BRICS summit to bring cash in U.S. dollars or euros, as major credit card companies such as Visa and Mastercard have suspended operations on Russian soil since the full-scale invasion of Ukraine began in 2022.

During the BRICS summit, a Chinese official mentioned that Russia is facing “serious difficulties” with paying its membership fees to the Shanghai Cooperation Organisation; the official blamed Western sanctions. As if this were not enough, the comment came on the same day that the Kremlin had to cancel bond auctions to issue nearly 600 billion Russian rubles (around $6 billion) in sovereign debt for lack of buyers.

These examples might sound trivial, but taken together, they highlight how all might not be going hunky-dory for the Russian economy—contrary to the Kremlin’s claims that Western sanctions are ineffective and Russian GDP growth is booming. Like a cash-strapped household pretending that all is well while quietly burning through emergency savings, Moscow is trying to project economic normalcy by tapping into its vast financial buffers.

This is not a sustainable strategy: Without fresh inflows of cash, even the largest of savings only last for a while. Russia could soon struggle to preserve costly social stability at home while waging its expensive war against Ukraine.

To understand Russia’s economic troubles, looking at inflation is a good starting point. Official statistics are fishy, but even without consulting them, it’s easy to see that price growth is an issue in Russia. First, the ruble has lost one-third of its value against the U.S. dollar since early 2022, inflating the price of imports and therefore fueling inflation.

Second, Russian firms are struggling to hire because of the combined impact of a shrinking population; a high death toll from the COVID-19 pandemic; and the war in Ukraine, which has killed or seriously wounded 2 percent of Russian men between the ages of 20 and 50, and is causing an exodus of highly skilled workers. To attract workers, Russian companies are raising wages, again fueling inflation. Third, the Kremlin believes that it can buy social stability by showering people with generous handouts—another inflationary factor.

Central bankers like to raise interest rates when inflation is high, seeking to tame price growth by weighing on demand. The Central Bank of Russia has applied these principles to the letter; since mid-2023, it has gradually increased its key rate to a whopping 21 percent. Russian companies are feeling the pinch. This week, Sergei Chemezov, the CEO of state-owned defense conglomerate Rostec, declared that high interest rates are eating into profits so much that most Russian industrial firms could soon go bankrupt. But there is a catch: Because of its obsession with social stability, Moscow is working to negate the impact of high interest rates on the population.

A recent scheme for subsidized loans provides an example of this. Since 2020, millions of Russians have signed up for real estate loans at a cheap rate of 8 percent, while the government has reimbursed banks for the difference between that face rate and the 20 percent or more that higher central bank rates should command. That policy might well boost economic growth in the short term, but it comes with high costs: Home prices in Russia have tripled since 2020, suggesting a real estate bubble that could soon burst. The scheme also comes with a roughly $5 billion price tag for the Kremlin.

Russia’s bigger fiscal picture looks dire. On the expenses side, war is costly, and defense spending keeps rising to record highs: Military expenses will make up 40 percent of Russia’s public spending in 2025, for an eye-popping $142 billion. (National security and “classified” expenses will absorb another 30 percent of Russia’s federal budget.) Russia is also splurging to preserve social stability. In the next six years, the Kremlin plans to spend $431 billion on all sorts of social projects, including sending children to summer camps in occupied Crimea, building brand-new student campuses across Russia, and raising the minimum wage by no less than 10 percent per year.

The revenue side of the fiscal balance does not look any better. Excluding dividends, Russia’s state-owned gas giant Gazprom used to provide around 10 percent of the Kremlin’s fiscal revenues. Such largesse is over: After losing access to the European market, Gazprom recorded a $6.8 billion loss in 2023, making it impossible for the company to transfer money to state coffers. (Gazprom sent $40 billion to the Russian Ministry of Finance in 2022.)

Things could soon get even worse. In a few weeks, a deal allowing the transit of Russian gas to Europe via Ukraine will expire, cutting down Moscow’s remaining gas exports to the European Union by half and Russian total gas sales by one-third—for an expected loss of $6.5 billion per year for Gazprom.

Russia only has a few options to find new income streams. Sustained economic growth would raise fiscal revenues through higher taxes, but labor shortages mean that this is not a credible plan. A few weeks ago, the deputy governor of Russia’s central bank acknowledged that “available production capacity is depleted.” With social stability a constraining factor, Moscow can only apply fiscal Band-Aids.

Current plans include imposing higher taxes on wealthy households—for a mere $1.5 billion a year, or less than 3 percent of total income tax receipts—and raising tariffs on Chinese electric vehicles. It is not clear what Beijing will think of these protectionist measures in light of the supposedly unlimited friendship that binds Russia and China; Russian President Vladimir Putin has previously called U.S. tariffs on Chinese electric vehicles “unfair.”

With ever-rising expenses and dwindling revenues, Russia is now posting an annual fiscal deficit of nearly 2 percent of its GDP. For most economies, this is not an issue. Such a small shortfall can typically easily be financed through debt issuance. But Western sanctions have turned Russia into a pariah on the global financial scene, making it impossible for it to tap global debt markets. Moscow’s plan B was to tap domestic bond markets, but things are not going well on this front, either. Despite having to cancel auctions this month for lack of buyers, the Kremlin has penciled in issuing $25 billion in domestic bonds by the end of the year. So far, it is not getting anywhere.

With debt issuance out of the equation, Russia is now forced to turn to plan C: tapping into its savings. On paper, such a strategy could work for a while thanks to the vast holdings that Moscow accumulated in its National Wealth Fund (NWF) in the 2010s. However, these savings are now drying up: The liquid part of the fund has shrunk by more than half since the start of the war in Ukraine, to just $54 billion in September. Last year, the government stopped saving money in its NWF. Moscow is now resorting to selling the portion of its NWF reserves that it holds in gold; the fund’s gold reserves have shrunk by around half, or about 262 tons of gold, since early 2022.

Russia is depleting its rainy-day holdings, and this cannot last forever. Even assuming high global oil prices, the Kremlin’s 2024 budget includes a further $13 billion drop in NWF holdings this year, or about a quarter of the fund’s liquid reserves. Looking ahead, the NWF’s liquid reserves cover just around a year and a half of budget deficit. This assessment might prove optimistic: It assumes that official fiscal data is trustworthy—some experts believe that Russia’s fiscal deficit could be closer to 5 percent of its GDP—and that the global economy won’t suffer from major shocks. If global growth were to tank, the Central Bank of Russia estimates that the NWF’s liquid reserves could vanish in less than a year.

In September, Kyrylo Budanov, Ukraine’s defense intelligence chief, told attendees at a conference in Kyiv that Russia will try to force an end to the war in 2025, when the Kremlin could start facing genuine economic problems. This analysis might not be too far from the truth—and it will be useful to keep it in mind as calls for negotiations between Kyiv and Moscow grow louder every day.

[buyresidentialpropertiesindubai]

Navigating the Mortgage Market: Finding the Best Mortgage Company in UAE

Navigating the mortgage market in the UAE can be challenging, given the numerous options available. This guide will help you find the best mortgage company for your needs, ensuring you secure favorable mortgage terms and rates.

For more insights into Dubai's real estate market, visit home loan dubai.

Understanding the UAE Mortgage Market

Market Overview: The UAE mortgage market is diverse and competitive, with a wide range of local and international banks offering various mortgage products. Understanding the market landscape is essential for making the right choice.

Types of Mortgages: Mortgages in the UAE can be classified into fixed-rate and variable-rate mortgages. Fixed-rate mortgages provide stability with consistent monthly payments, while variable-rate mortgages fluctuate based on market conditions.

Eligibility Criteria: Each mortgage company has its own eligibility criteria, including income requirements, employment status, and credit history. Understanding these criteria will help you identify which companies you qualify for.

For more investment options, explore Buy Commercial Properties in Dubai.

Key Features of Mortgage Companies

Competitive Interest Rates: Leading mortgage companies offer competitive interest rates, helping you save money over the loan term. Compare the rates offered by different companies to find the best deal.

Flexible Loan Terms: Look for mortgage companies that offer flexible loan terms, including various repayment periods and options for early repayment without penalties.

Customer Service: Excellent customer service is essential when dealing with mortgage companies. Choose a company with a strong reputation for providing responsive and helpful support.

Quick Approval Process: The approval time for mortgages can vary between companies. Select a company known for its quick and efficient approval process to avoid delays in your property purchase.

Additional Services: Some mortgage companies offer additional services such as mortgage insurance, property valuation, and financial planning advice. These services can add value and convenience to your mortgage experience.

For mortgage services, visit Mortgage Financing in Dubai.

Steps to Finding the Right Mortgage Company

Research and Compare: Start by researching various mortgage companies in the UAE. Use online platforms, read customer reviews, and compare their mortgage products and services.

Seek Recommendations: Ask friends, family, or colleagues for recommendations. Personal experiences can provide valuable insights into the reliability and efficiency of different mortgage companies.

Consult a Mortgage Broker: A mortgage broker can provide expert advice and help you find the best mortgage deals. They can also assist with the application process and negotiations.

Pre-Approval: Get pre-approved for a mortgage to understand your borrowing capacity and increase your chances of securing a good deal. Pre-approval also makes you a more attractive buyer to sellers.

Meet with Representatives: Schedule meetings with representatives from different mortgage companies to discuss your needs and ask questions. This will help you gauge their responsiveness and willingness to assist.

Review Terms and Conditions: Carefully review the terms and conditions of the mortgage offers. Pay attention to interest rates, loan terms, fees, and any other conditions that may affect your mortgage.

For property management services, visit Apartments For Rent in Dubai.

Popular Mortgage Companies in UAE

HSBC: Known for its competitive interest rates and flexible mortgage options, HSBC is a popular choice for homebuyers in the UAE.

Emirates NBD: Emirates NBD offers a range of mortgage products tailored to different needs, along with excellent customer service and quick approval times.

Mashreq Bank: Mashreq Bank provides personalized mortgage solutions with attractive rates and minimal fees, making it a preferred choice for many buyers.

ADCB: Abu Dhabi Commercial Bank (ADCB) offers comprehensive mortgage products with competitive rates and flexible repayment options.

Dubai Islamic Bank: For those seeking Sharia-compliant mortgage solutions, Dubai Islamic Bank offers a variety of Islamic mortgage products with favorable terms.

For property sales, visit Property For Sale in Dubai.

Real-Life Success Story

Consider the case of Noor and Hadi, who recently purchased their dream home in Dubai. By working with a reputable mortgage company, they secured a mortgage with favorable terms. The mortgage company provided expert advice, handled the paperwork, and ensured a smooth process from start to finish. This allowed Noor and Hadi to focus on finding their perfect home without worrying about the complexities of securing a mortgage.

For more insights into Dubai's real estate market, visit home loan dubai.

Future Trends in the UAE Mortgage Market

Digitalization: The UAE mortgage market is embracing digitalization, with many companies offering online application processes, digital document submission, and virtual consultations. This trend is making the mortgage process more efficient and convenient.

Sustainable Mortgages: There is a growing demand for sustainable mortgages that support environmentally friendly and energy-efficient homes. Mortgage companies are beginning to offer products that cater to this demand.

Flexible Mortgage Products: Mortgage companies are increasingly offering flexible mortgage products that cater to the diverse needs of homebuyers. This includes options for expatriates, first-time buyers, and investors.

For property sales, visit Sell Your Apartments in Dubai.

Conclusion

Navigating the mortgage market in the UAE involves careful research, comparison, and consideration of various factors. By understanding the market, seeking recommendations, and evaluating your options, you can secure a mortgage that meets your needs and financial goals. For more resources and expert advice, visit home loan dubai.

[teamfrontporch]

Charleston residential real estate

Exploring the Charmed World of Charleston Residential Real Estate

Charleston, South Carolina, often referred to as the "Holy City," is a place steeped in history, culture, and Southern charm. With its cobblestone streets, historic architecture, and vibrant community, Charleston has become an enticing location for those seeking to invest in residential real estate. In this blog, we will delve into the captivating realm of Charleston's residential real estate market, exploring its unique characteristics and reasons why it's such an attractive prospect for potential homeowners and investors alike.

Historical Charm and Architecture

One of the standout features of Charleston residential real estate is its historical charm and diverse architecture. The city boasts a wide array of architectural styles, from Georgian and Federal to Victorian and Antebellum. The well-preserved historical homes, often adorned with picturesque gardens and intricate ironwork, offer a glimpse into the city's rich past. These timeless structures not only provide a sense of living history but also contribute to the unique aesthetic appeal that draws many to Charleston.

Strong Market Growth

Charleston's real estate market has experienced significant growth over the years, making it an attractive investment opportunity. The city has witnessed a steady influx of people moving in, both from other states and within South Carolina. This population growth has fueled demand for housing, leading to a thriving real estate market. As the city continues to develop and diversify its economy, attracting businesses and professionals, the housing market remains robust, making it a favorable destination for potential buyers.

A Booming Economy

Charleston's flourishing economy is another driving force behind its buoyant real estate market. The city has developed into a hub for various industries, including aerospace, tech, tourism, and manufacturing. With a diverse economic base and a steady stream of job opportunities, people are relocating to Charleston, contributing to the demand for residential properties. Prospective homeowners are drawn to the stability and potential for career growth in the city.

Lifestyle and Culture

The lifestyle and culture of Charleston play a pivotal role in attracting homebuyers. The city offers a unique blend of Southern hospitality, culinary delights, outdoor activities, and cultural events. The renowned culinary scene, historic landmarks, and a plethora of festivals and events create a vibrant atmosphere that appeals to a wide range of individuals and families. As a result, many seek to make Charleston their home, further boosting the residential real estate market.

Waterfront Living

Charleston's strategic location along the Atlantic coast provides ample opportunities for waterfront living. With its proximity to the ocean, rivers, and marshlands, the city offers stunning waterfront properties and communities. Waterfront homes provide not only a scenic and peaceful living environment but also potential for outdoor recreational activities, making them highly sought-after in the Charleston real estate market.

Preservation and Conservation Efforts

Charleston places a strong emphasis on preserving its historical and natural heritage. Efforts to maintain the integrity of historical structures and conserve the surrounding natural beauty contribute to the city's allure. This commitment to preservation enhances the overall appeal of Charleston, attracting those who appreciate the importance of preserving the past while building for the future.

In conclusion, Charleston's residential real estate market is a compelling and dynamic landscape, appealing to a wide range of homebuyers and investors. Its blend of historical charm, economic growth, cultural richness, waterfront offerings, and preservation efforts make it a truly enchanting place to call home. As the city continues to evolve and captivate hearts, the allure of Charleston's real estate market remains strong and promising for those looking to invest in a piece of its timeless charm.

[guamhomeslizduenas]

Top Tips for Finding the Best Guam Homes for Sale

If you're considering making a move to Guam or investing in property on the island, you're in for a unique and rewarding experience. Guam offers a range of beautiful homes in stunning locations, making it an appealing destination for both first-time buyers and seasoned investors. This guide will walk you through the best tips for finding Guam homes for sale, with insights into the island’s neighborhoods, property types, and ways to maximize your investment with the help of an experienced Guam Realtor.

1. Understand the Benefits of Owning a Home in Guam

Investing in homes in Guam provides both lifestyle and financial benefits. Guam’s natural beauty, vibrant culture, and close-knit communities make it a paradise for residents. From scenic coastal views to modern amenities, owning a home here allows you to enjoy everything the island offers. Additionally, Guam homes for sale are part of a steadily growing real estate market, making this a sound investment for long-term gains.

2. Work with a Knowledgeable Guam Realtor

Finding the right home in Guam starts with partnering with a trusted Guam Realtor. A knowledgeable realtor has extensive knowledge of the local market, from neighborhood insights to price trends. They’ll help you find listings that match your preferences, budget, and goals. Working with a real estate agent in Guam also ensures that you have professional guidance during negotiations, inspections, and the closing process.

3. Explore Different Types of Guam Homes for Sale

Guam offers various types of properties, each suited to different needs:

Single-Family Homes: Ideal for families and those seeking spacious accommodations.

Condos and Apartments: Perfect for individuals or couples who prefer low-maintenance living.

Vacation Homes: For those looking to invest in a property that can also generate rental income.

By exploring different Guam homes for sale, you can find the property type that best fits your lifestyle and investment goals.

4. Choose the Right Location for Your Needs

Popular Areas for Homes in Guam

Each region in Guam has its unique charm. Popular neighborhoods include:

Tumon Bay: Known for its lively atmosphere, Tumon Bay is a hub for shopping, dining, and entertainment. It’s a great option if you’re looking for homes for sale in Guam close to the action.

Dededo: A quieter area known for its family-friendly environment and community feel. Dededo offers affordable Guam homes for sale and Guam homes for rent.

Agana Heights: If you prefer a mix of peace and convenience, Agana Heights has beautiful properties with scenic views and easy access to essential amenities.

5. Decide Between Buying and Renting in Guam

If you’re unsure whether to buy or rent, consider the advantages of each:

Buying Guam Homes: Offers long-term investment value and the freedom to make the property your own.

Guam Homes for Rent: Provides flexibility, particularly if you’re new to the island or want to test out different neighborhoods before buying.

Consulting with a real estate agent in Guam can help you make an informed decision based on your current needs and future goals.

6. Set a Budget and Explore Financing Options

Setting a clear budget is essential when searching for Guam homes for sale. From mortgage pre-approval to property taxes, it’s crucial to have a complete financial picture. Many local banks offer financing options for both local and foreign buyers, making it easier to secure funding. An experienced Guam Realtor can also connect you with reliable lenders and guide you through the mortgage process.

7. Consider Investment Opportunities in Guam’s Real Estate Market

With tourism flourishing in Guam, homes in Guam offer a unique investment opportunity. Many homeowners choose to rent out their properties part-time, capitalizing on the island’s steady visitor influx. If you’re interested in investment, look for homes for sale in Guam in popular tourist areas, as these can generate attractive rental returns.

8. Inspect Properties Thoroughly Before Buying

A home inspection is a must when buying any property, and Guam homes are no exception. The island’s tropical climate means that factors like humidity and weather exposure can affect homes over time. A professional inspection will ensure the property is in good condition and reveal any issues that may need repair.

9. Review Local Regulations and HOA Rules

Certain homes for sale in Guam may be part of communities governed by Homeowners' Associations (HOAs). It’s important to understand any associated fees and rules before purchasing. Additionally, if you’re planning to rent out your home, check local regulations regarding short-term rentals.

10. Take Advantage of Online Listings and Virtual Tours

In today’s digital age, online listings provide an excellent way to explore Guam homes for sale from the comfort of your own home. Many real estate websites offer detailed listings with photos and virtual tours, allowing you to compare properties easily. Virtual tours are also a great way to get a feel for different neighborhoods before visiting in person.

Conclusion: Start Your Search for Guam Homes for Sale Today

Finding the perfect Guam homes for sale is an exciting journey, especially with the help of a dedicated Guam Realtor. Whether you’re moving to Guam for a new adventure, investing in a vacation property, or seeking a rental home, the island has something to offer everyone. Begin your search, explore neighborhoods, and connect with a real estate agent in Guam who can make your dream of island living a reality.

For more details, tips, and listings of homes in Guam, visit our website at guamhomeslizduenas.com and take the first step towards finding your ideal home in Guam!

[disasterarea-podcast]

I am *begging* politicians to stop doing this.

At least 114 people are dead. Around 850 are still missing. They’re still looking amidst the rubble for the dead. And now they’re going to have to pause at least in part so the president can come visit.

Look, I get it. You want to show you care, and that you want to know how the disaster response is going, and that you’re here to support the victims. You want to see the devastation firsthand, and meet with those who need help.

But a political visit requires a tremendous amount of security and time that could be used on actual disaster response waste on meet-and-greets and photo ops. Police need to be reallocated from protecting the locals to protecting the president. These sorts of political visits are supposed to give politicians the chance to see what’s happened close up and see what’s necessary.

Except … you don’t have to do that. Really. I live in Pennsylvania, and there’s no chance whatsoever I’ll ever be able to afford to visit any part of Hawaii. I’m working two regular jobs along with researching and writing the next episodes of this podcast. But I don’t need to GO to Lahaina to know at least some of the things the victims need - federal assistance in keeping and rebuilding their homes and businesses, relocation expenses if desired, added search teams to help locate the deceased and missing, funding for cleanup, reassurances that predatory buyers will not be allowed to snap up damaged properties for a song and elbow out the locals, unemployment sufficient to survive in the most expensive state in the union, etc.

Political visits following disasters are one of my biggest pet peeves. It doesn’t matter which political party is in charge or how much I like or dislike the person visiting. These visits cost time and money rescue personnel simply can’t waste, and yet here it comes, while hundreds of the missing are more than likely lying dead amidst the rubble. Even if you genuinely care about the victims and what they need, you don’t need to go there to understand how awful the situation is.

It’s bad. It’s really bad. Send money. A LOT of money. Send people eager to preserve the community and culture of Lahaina. Send searchers and cadaver dogs and burial grants. Send real estate consultants who will ensure the locals can keep their homes and land. Send people whose job and desire it is to help the victims and give them the funding to do it.

You. Don’t. Need. To. Go. To. Disaster. Sites. Witches’ honor.

[hubflo1]

Exploring the 150 Oxford Drive, Tenafly NJ 07670 Purchase Price

When considering a property in Tenafly, New Jersey, the address 150 Oxford Drive stands out due to its desirable location and appealing characteristics. Tenafly, situated in Bergen County, is renowned for its excellent school system, charming neighborhoods, and proximity to New York City, making it a coveted area for prospective homebuyers. In this overview, we’ll delve into various factors that influence the 150 Oxford Drive, Tenafly NJ 07670 Purchase Price , offering a comprehensive understanding of what potential buyers might expect.

Property Overview

150 Oxford Drive is nestled in one of Tenafly’s picturesque and well-established neighborhoods. The property’s location is integral to its overall value, benefiting from the town’s serene environment while maintaining convenient access to major metropolitan areas. Known for its tree-lined streets and upscale homes, this neighborhood is highly sought after by families and professionals alike.

Factors Influencing Purchase Price

Several factors play a crucial role in determining the purchase price of a property like 150 Oxford Drive. These factors include the size and condition of the home, the lot size, architectural style, and recent market trends. Additionally, proximity to local amenities, such as schools, parks, and shopping areas, significantly impacts the value.

1. Size and Condition

The size of the home, including the number of bedrooms and bathrooms, square footage, and overall condition, is a primary determinant of its purchase price. At 150 Oxford Drive, Tenafly NJ 07670 Purchase Price prospective buyers will find a well-maintained residence that reflects quality craftsmanship and modern updates. The condition of the home, including recent renovations or upgrades, also affects the pricing. Well-maintained homes or those with recent renovations typically command higher prices.

2. Lot Size and Outdoor Space

The lot size of 150 Oxford Drive contributes to its value, offering ample outdoor space that enhances the property’s appeal. Larger lots provide additional privacy and room for outdoor activities, which can be a significant selling point. The presence of landscaped gardens, patios, or pools further enhances the attractiveness of the property, potentially increasing its purchase price.

3. Architectural Style and Features

The architectural style and unique features of 150 Oxford Drive also influence its market value. Whether it is a modern design, a classic colonial, or a contemporary style, the aesthetics and functionality of the home play a role in setting its price. Features such as high ceilings, open floor plans, and luxury finishes can add to the property’s overall value.

4. Market Trends and Comparable Sales

Market trends in Tenafly and recent sales of comparable properties provide insight into the expected purchase price of 150 Oxford Drive. Real estate markets can fluctuate based on economic conditions, interest rates, and housing demand. By analyzing recent sales of similar homes in the area, potential buyers and real estate professionals can gauge a reasonable price range for the property.

5. Local Amenities and School District

The appeal of 150 Oxford Drive is enhanced by its proximity to local amenities and the highly regarded Tenafly School District. Access to top-rated schools, parks, recreational facilities, and shopping centers adds value to the property. Buyers often prioritize locations with strong educational institutions and convenient amenities, which can drive up the purchase price.

Current Market Analysis

To provide a more specific estimate of the purchase price for 150 Oxford Drive, it is essential to consult recent real estate listings and market analyses. Real estate agents and online property valuation tools can offer up-to-date information on the current market conditions and pricing trends in Tenafly. These resources can help potential buyers understand the current value of 150 Oxford Drive relative to other properties in the area.

Conclusion

The purchase price of 150 Oxford Drive, Tenafly, NJ 07670, is influenced by a combination of factors including the size and condition of the home, lot size, architectural style, and current market trends. Tenafly’s attractive neighborhood, excellent schools, and proximity to New York City further enhance the property’s value. For the most accurate and current pricing information, potential buyers should consult with real estate professionals and review recent market data.

Whether you are looking to invest in a family home or seeking a property in a desirable area with excellent amenities, 150 Oxford Drive, Tenafly NJ 07670 Purchase Price offers an opportunity to explore the appealing aspects of Tenafly real estate. By understanding the various elements that affect its purchase price, you can make an informed decision and take advantage of the many benefits this property has to offer.

[chrissycogan]

Your Home Sold GUARANTEED Realty | Hugo Chinchay Team, REALTOR is the premier choice for condo sellers. Our team of experienced Realtors in Loma Linda CA, specializes in catering to your needs, whether you're a property buyer, first-time homebuyer, or looking to sell your house for the first time. With expertise in land leasing services and facilitating seamless transactions for both buying and selling houses, we ensure a hassle-free experience. Our dedicated agents are committed to delivering exceptional service and guaranteed results. Trust us for all your real estate need.

[marbella-company]

Luxury REAL ESTATE in Marbella, Spain.

We help in buying flats and apartments in new buildings in Marbella. Costa del Sol, Spain.

We work with our buyers and investors without commission and with love.

Call +34 (611) 00-48-50 or contact us on the website www.marbella.company for a consultation or to organize a tour of new buildings in Marbella.