Should Boomers Buy or Rent after Selling?

Should Boomers Buy or Rent after Selling? | MyKCM

In a recent CNBC article, it was reported that many baby boomers are selling their current homes and moving into rentals, rather than purchasing another home.

“Between 2009 and 2015, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent…

Meanwhile, more than 5 million baby boomers across the nation are expected to rent their next home by 2020, according to a 2016 analysis from Freddie Mac.”

This makes sense in the short term for many reasons. If you are moving to a different part of town or a new region of the country, you may decide to rent until you pick the perfect home in an area you love. However, is renting a good long-term strategy?

A mortgage payment remains fixed. Rents, however…

The Census Bureau recently released their 2017 third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

Should Boomers Buy or Rent after Selling? | MyKCM

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether you should rent or buy your next home, you should take this into consideration.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home instead of renting. Let’s get together so we can help you decide what the best step is for you and your family!

2 Family Home in Irvington

$80,000

 

54 Lindsley Avenue, Irvington, NJ  07111

 

Call Robert for details and showings 609-474-0360.

 

HUD Home – 2 Family. Unit 1 – 2 bedroom/1bath.  Unit 2 – 2 bedroom/1bath.  2 car detached garage.  Currently available to only to owner occupants.   Bid deadline is December 17, 2017.  Property is Sold “AS IS”. Buyer may be eligible for $100.00 down payment ask how. If home built before 1978 a LBP addendum is included. FHA financing IE (Insured with Escrow) 203K Eligible. Case # 352-600984 For property condition report, forms, disclosures, availability and to place a bid please visit http://www.hudhomestore.com. Buyer to verify all information.

12 Tips to Drink 8 Cups a Day

Water Tactics that Help You Get in Your 8
  — By Cindy Dyson, SparkPeople member
Eight glasses of water every day? No matter how you pour them, that’s a lot of liquid. We’re talking cups and cups…and cups. Even knowing about the many benefits of meeting your daily quota—increased fat burning, healthier skin, more energy, better digestion, fewer cravings—doesn’t make drinking it (or dealing with increased bathroom visits) any less of a struggle for many of us.

If you feel like you’re barely treading water when it comes to drinking your water, don’t despair. There are lots of little secrets—time-honored tricks that those elusive “water drinkers” use—that even you can try to transform yourself into an H2O-guzzling machine.

For best results, try the two that Spark your interest immediately, then add one each week until you’re getting all the water you need. And remember, there is no magic number. The recommended eight cups a day is not a one-size fits all. You’ll need more if you’re sweating through workouts; less if you eat a lot of water-rich fruits and vegetables.

1. Try comfort water
This is a great tactic for coffee and tea drinkers. While you’re waiting for the coffee to brew, nuke a glass of water (or herbal tea), squeeze in a bit of lemon and sip while you wait. Try another cup of warm water after you’ve had a mug or two of coffee. Hot water is also a great treat on a cold afternoon or evening. Invest in a new kind of herbal tea every time you grocery shop until you’ve found a couple that are just right.

2. Tag your water bottle
Splurge on the perfect reusable water bottle. Whether it’s your favorite color or a unique design, the more you bond with your bottle, the less likely you’ll be to lose it. Slap an inspirational sticker or image onto it, or even write on it with a permanent marker. Now you’re ready to drink from it throughout the day—don’t forget to refill it as soon as it’s empty.

3. Sip up
Gulping all that water can seem daunting. So get a package of straws to slowly sip it instead. You can even pick up a water bottle with built-in straw.

4. Become a connoisseur
Think of water drinking like wine tasting. Taste the various brands and types of bottled waters available (sparkling, spring, mineral, vitamin-enhanced, reverse osmosis, filtered, fruit-flavored, etc). Be sure to read the labels as some “waters” have significantly added calories. Many bottles of water contain two to three cups of water.

5. Drink water and drive
Keep your water bottle next to you every time you hop into the car, or buy a package of bottled water to keep in the car. Whenever you’re driving about, your water will be within easy reach from your car’s cup holder. Think about other places you can stash some water bottles (under your desk, next to the couch, in your purse, and more).

6. Drink your vitamins
Create your own vitamin drink. Consider combining your water with your vitamin supplements, if you take any. There are several powdered vitamin supplements that are designed to be mixed with water. Some contain little to no calories too. If you prefer to take vitamins in tablet form, then promise yourself to drink at least one whole cup of water every time you take them.

7. Fill your dinner glass
Set a glass of water at each place setting at the dinner table just like restaurants do. Don’t fret about drinking it all—just place it there. By sipping water between every few bites, you’ll slow you down and enjoy your meal more, while also meeting your water needs.

8. Filter out
Sometimes tap water just isn’t very good. If your well or city water leaves a bad taste in your mouth, change it. Get a faucet or pitcher filter to keep out the bad and leave in the good.

9. Pace yourself
Holding (and drinking from) a cup of water will help you pace yourself at social events, parties and dinners that offer tempting food and drink. Try drinking a cup of water between bites of the calorie abomination you’re faced with. It is hard to eat an entire piece of cake if you have to drink a glass of water between every single bite! To keep the wine, beer, or liquor from ruining your calorie count, drink a cup of water for every glass of alcohol you consume. (I’m a wine drinker, so I fill up my wine glass with water every time I empty it of wine.) Not only does this help to limit your consumption, but it helps counteract alcohol’s dehydrating effects. And when you have a glass in hand—no matter what’s in it—you won’t be bombarded with more drink offers in the meantime.

10. Find watering holes
When out and about, make it a point to stop by drinking fountains, drink your water when out to lunch while reading the menu, and by all means if someone offers you a cup of herbal tea, say yes.

11. Combine habits
Get in the habit of drinking a cup of water when you do other things in your daily routine. Love long baths? Fill your water bottle when filling the tub. Working out? Keep your bottle beside you. Heading for bed? Set a glass on the nightstand. Reading by the fire? Always bring a cup of tea along. Develop water habits that go with your routines.

12. Reward your hard workf
Make a habit of having special water after each workout, for example. This can be water you gussy up yourself with a slice of lemon or lime, a fruit-flavored water, or (what I enjoy) a tall sparking mineral water.

Just a couple of these tricks can push you across the eight-cup finish line fairly painlessly. So raise a glass and tell your metabolism who’s the boss. Sometimes, simply conquering your water goal is enough to set you on the right path in even more areas. Cheers!

Cindy Dyson is a novelist, who discovered SparkPeople through her sister. Although she doesn’t struggle with getting enough water anymore, several members of her SparkTeam do. She created this list to help them, but found herself enjoying water more than ever as a result.

Original Post on SParkPeople.com

Finding Exercise Motivation When You’re Depressed

How to Get Moving When You’re Low on Energy
  — By Dean Anderson, Behavioral Psychology Expert
I know exercise is supposed to help me fight depression, but how can I find the motivation to work out when I’m depressed?

Depression definitely can make it hard to find the motivation for exercise (among other things) because loss of interest in normal activities, along with the ability to enjoy them, is often one of the main symptoms of depression. But what does that mean in practical terms?

It definitely doesn’t mean that you’ll have to wait until your depression has cleared up before you’ll be able to start building up a regular exercise routine. In fact, it probably means just the opposite. You might need to stop looking for your motivation or waiting for it to appear before you start working out.  Instead, recognize that feeling unmotivated is part of the illness and that starting a regular exercise routine is an important part of the cure. It’s a lot like getting out of bed in the morning on a low day—you might not feel like it; but you know that if you don’t do it, things are only going to go downhill from there.

The good news is that actually starting an effective exercise routine isn’t as unpleasant or difficult as it seems. Just because you’re depressed doesn’t mean you’ll to have to spend weeks or months forcing yourself to do something you don’t feel like doing; you just have to start by taking the first few steps on faith. That’s because motivation is actually a mental muscle that works a lot like your other muscles—the more you use it, the stronger it gets. And just like there are good (and bad) ways to train your other muscles effectively, there are good ways to train your motivation so it gets stronger as you go along, and makes it easier for you to establish and maintain a good exercise habit. Here are a few good motivation muscle training tips to get you started.

Start with where you are today, and move forward from there. Exercise doesn’t have to mean 60 minutes of heart-pounding, heavy-breathing activity that leaves you sweaty, sore and exhausted. And you don’t need any special equipment or a gym membership to get started. You can start with something as simple as a walk around the block, going up and down your stairs a couple of times, or just taking some time to stretch your muscles while you’re watching TV. The important thing at first is to make a deal with yourself that you’ll do something every day rather than nothing. Once you’ve established a good streak of doing some activity every day, you can take the next step of trying to do a little more today than you did yesterday, and setting yourself some realistic goals or physical challenges that will keep things interesting.

Pay attention to how your efforts make you feel.
One of the chief benefits of exercise, especially if you’re dealing with depression, is the way it stimulates the release of endorphins and neurotransmitters in your brain. These are your body’s natural feel-good chemicals, and they can provide a significant mood boost at the same time they’re helping you generate some motivation to keep moving. You can make it easier for your endorphins to do all this for you if you pay attention to how your exercise makes you feel.

Notice how you’re feeling before, during, and after your exercise. Did your energy level pick up once you got started? Did you feel better afterward than you did before you started? How do you feel after you decide to skip your workouts, and how does that compare to how you feel when you decide to just do it? On days when you find yourself struggling to get started with exercise, take a moment to ask yourself how you’d rather feel today and which choice seems most likely to help you make that happen?

Be aware though, that exercise isn’t a substitute for other forms of treatment you might  also need when you’re dealing with a clinical depression. Rather, it’s a way you can help increase the positive effects of those treatments.

Reward yourself for successes, small and large.
One of the best ways to turn one good decision into a string of good decisions is to reward yourself. Earlier I mentioned starting a streak of days on which you decide to do some kind of physical activity rather than none. You can help yourself achieve this goal by setting a specific and reasonable target of consecutive days (let’s say seven) and then setting up a reward you can earn by achieving that goal. Maybe there’s a book you think you might enjoy or a movie you’d like to see, or maybe it’s been a while since you’ve gone out for dinner with a friend. It can be anything, really, as long as it won’t bust your budget or add any stress to your life. And if you can pick a reward that involves something you used to enjoy before becoming depressed, all the better.

Once you’ve achieved your first goal, set another one that’s a bit more challenging, like working your way up to 30 minutes of exercise, and find a new reward. Keep your goals specific, relatively short-term, and reasonable, and always keep in mind that progress doesn’t require perfection. If you miss a day of exercise that doesn’t end this whole project—it just means you start counting your seven days over at one again.

Share your efforts with someone else in the same boat.
One of the factors that can make depression especially difficult to beat is that people who haven’t been depressed often don’t seem to understand what you’re going through. Often, they seem to think (and will be happy to tell you) that you just need to snap out of it or pull yourself together. That’s not true, any more than someone with diabetes or pneumonia just needs to snap out of it; and it’s not helpful. One thing that does seem pretty clear is that people do a lot better at overcoming depression when they have the support and company of people who do know what you’re dealing with—because they’re also trying to do the same thing. So if you’re struggling to establish a regular exercise routine, find others in the same boat.

Most communities have in-person support groups focused on depression recovery, and there are many online resources that include social communities—like right here on SparkPeople. You can find active message board threads and exercise challenges, as well as online exercise buddies and accountability partners you can hook up with if you think that would be helpful. There’s nothing like the feeling of not wanting to let your exercise partner down to get you up and moving when you might otherwise not. There are also SparkTeams of members dealing with depression that can give you a place to go when you need to talk about what’s going on for you, or find someone you can help out when you want to get your mind off your own problems for a little while.

Source
Mayo Clinic. “Depression and Anxiety: Exercise Eases Symptoms,” accessed February 25, 2013. http://www.mayoclinic.com.

Original Post on SparkPeople.com

7 Reasons to List Your Home This Holiday Season

7 Reasons to List Your Home This Holiday Season | MyKCM

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays.

Here are seven great reasons not to wait:

  1. Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their employees in their new positions as soon as possible.
  2. Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.
  3. You can restrict the showings on your home to the times you want it shown. You will remain in control.
  4. Homes show better when decorated for the holidays.
  5. There is less competition for you as a seller right now. Let’s take a look at listing inventory as compared to the same time last year:

7 Reasons to List Your Home This Holiday Season | MyKCM

  1. The desire to own a home doesn’t stop when the holidays come. Buyers who were unable to find their dream home during the busy spring and summer months are still searching!
  2. The supply of listings increases substantially after the holidays. Also, in many parts of the country, new construction will continue to surge reaching new heights in 2018, which will lessen the demand for your house.

Bottom Line

Waiting until after the holidays to sell your home probably doesn’t make sense.

A Housing Bubble? Industry Experts Say NO!

A Housing Bubble? Industry Experts Say NO! | MyKCM

With residential home prices continuing to appreciate at levels above historic norms, some are questioning if we are heading toward another housing bubble (and subsequent burst) like the one we experienced in 2006-2008.

Recently, five housing experts weighed in on the question.

Rick Sharga, Executive VP at Ten-X:

“We’re definitely not in a bubble.”

“We have a handful of markets that are frothy and probably have hit an affordability wall of sorts but…while prices nominally have surpassed the 2006 peak, we’re not talking about 2006 dollars.”

Christopher Thornberg, Partner at Beacon Economics:

“There is no direct or indirect sign of any kind of bubble.”

“Steady as she goes. Prices continue to rise. Sales roughly flat.…Overall this market is in an almost boring place.”

Bill McBride, Calculated Risk:

“I wouldn’t call house prices a bubble.”

“So prices may be a little overvalued, but there is little speculation and I don’t expect house prices to decline nationally like during the bust.”

David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices:

“Housing is not repeating the bubble period of 2000-2006.”

“…price increases vary unlike the earlier period when rising prices were almost universal; the number of homes sold annually is 20% less today than in the earlier period and the months’ supply is declining, not surging.”

Bing Bai & Edward Golding, Urban Institute:

“We are not in a bubble and nowhere near the situation preceding the 2008 housing crisis.”

“Despite recent increases, house prices remain affordable by historical standards, suggesting that home prices are tracking a broader economic expansion.”

5 Reasons Homeownership Makes ‘Cents’

5 Reasons Homeownership Makes ‘Cents’ | MyKCM

The American Dream of homeownership is alive and well. Recent reports show that the US homeownership rate has rebounded from recent lows and is headed in the right direction. The personal reasons to own differ for each buyer, but there are many basic similarities.

Today we want to talk about the top 5 financial reasons you should own your own home.

  1. Homeownership is a form of forced savings – Paying your mortgage each month allows you to build equity in your home that you can tap into later in life for renovations, to pay off high-interest credit card debt, or even send a child to college. As a renter, you guarantee that your landlord is the person with that equity.
  2. Homeownership provides tax savings – One way to save on taxes is to own your own home. You may be able to deduct your mortgage interest, property taxes, and profits from selling your home, but make sure to always check with your accountant first to find out which tax advantages apply to you in your area.
  3. Homeownership allows you to lock in your monthly housing cost – When you purchase your home with a fixed-rate mortgage, you lock in your monthly housing cost for the next 5, 15, or 30 years. Interest rates have remained around 4% all year, marking some of the lowest rates in history. The value of your home will continue to rise with inflation, but your monthly costs will not.
  4. Buying a home is cheaper than renting – According to the latest report from Trulia, it is now 37.4% less expensive to buy a home of your own than to rent in the US. That number varies throughout the country but ranges from 6% cheaper in San Jose, CA to 57% cheaper in Detroit, MI.
  5. No other investment lets you live inside of it – You can choose to invest your money in gold or the stock market, but you will still need somewhere to live. In a home that you own, you can wake up every morning knowing that your investment is gaining value while providing you a safe place to live.

Bottom Line

Before you sign another lease, let’s get together to help you better understand all your options.

Why Sell Now Instead of Later? The Buyers are Out Now

Why Sell Now instead of Later? The Buyers are Out Now | MyKCM

Each year, most homeowners wait until the spring to sell their houses because they believe that they can get a better deal during the normal spring buyer’s market. However, recently released data suggests that a seller’s best deal may be available right now. The concept of ‘supply & demand’ reveals that the best price for an item will be realized when the supply of that item is low and the demand for that item is high. Let’s see how this applies to the current residential real estate market.

SUPPLY

It is no secret that the supply of homes for sale has been far below the number needed for over a year. A normal market requires six months of housing inventory to meet the demand. The latest report from the National Association of Realtors (NAR) revealed that there is currently only a 4.2-month supply.

Supply is currently very low!!

DEMAND

A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report (which sheds light on the number of buyers out looking at homes) disclosed that there are more buyers right now than at any other time in the last twelve months. This includes more buyers looking at homes right now than at any time during last year’s spring market.

Demand is currently very high!! 

Bottom Line

Waiting until the spring to list your house for sale made sense in the past. This year is different. The best deal is probably available right now.

Thinking About Buying? Know Your Credit Score

Thinking About Buying? Know Your Credit Score | MyKCM

Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home buying process.

Make sure all the information listed on your report is accurate and work to correct any mistakes. The higher your credit score, the more likely you will be to receive a better interest rate for your mortgage, which will translate into more ‘home for your money.’

Many potential buyers believe that they need a 750 FICO® Score or higher to be able to purchase a home. The truth is that according to Ellie Mae’s Origination Report, over 53% of loans were approved with a FICO® score under 750 last month!

Here are some tips for improving your credit score:

  • Make payments, including rent, credit cards, and car loans, on time.
  • Keep your spending to no more than 30% of your limit on credit cards.
  • Pay down high-balance credit cards to lower balances, and consider balance transfers to free up credit.
  • Check for errors on your credit report and work toward fixing them.
  • Shop for mortgage rates within a 30-day period — too many spread-out inquiries can lower your score.
  • Work with a credit counselor or a lender to improve your score.

Once you know your score, your next step will be finding a lender and getting pre-approved for a mortgage. Doing this will ensure that you know your budget before you start looking for your dream home.

Don’t Let Fear Stop You from Applying for a Mortgage

Don't Let Fear Stop You from Applying for a Mortgage | MyKCM

A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainty about the buying process. A specific cause for concern tends to be mortgage qualification.

For many, the mortgage process can be scary, but it doesn’t have to be!

In order to qualify in today’s market, you’ll need to have saved for a down payment (73% of all buyers made a down payment of less than 20%, with many buyers putting down 3% or less), a stable income and good credit history.

Throughout the entire home buying process, you will interact with many different professionals, all of whom perform necessary roles. These professionals are also valuable resources for you.

Once you’re ready to apply, here are 5 easy steps that Freddie Mac suggests you follow:

  1. Find out your current credit history & score – even if you don’t have perfect credit, you may already qualify for a loan. The average FICO® Score of all closed loans in September was 724, according to Ellie Mae.
  2. Start gathering all your documentation – income verification (such as W-2 forms or tax returns), credit history, and assets (such as bank statements to verify your savings).
  3. Contact a professional – your real estate agent will be able to recommend a loan officer that can help you develop a spending plan, as well as determine how much home you can afford.
  4. Consult with your lender – he or she will review your income, expenses, and financial goals to determine the type and amount of mortgage you qualify for.
  5. Talk to your lender about pre-approval – a pre-approval letter provides an estimate of what you might be able to borrow (provided your financial status doesn’t change), and demonstrates to home sellers that you are serious about buying!

Bottom Line

Do your research, reach out to professionals, stick to your budget, and be sure that you are ready to take on the financial responsibilities of becoming a homeowner.