Trey McCallie's Blog

  Fifteen Will Get You Three   Freddie Mac chief economist, Frank Nothaft, says that affordability, stability and flexibility are the three reasons homebuyers overwhelmingly choose a 30 year term.  However, for those who can afford a higher payment, there are three additional reasons to choose a ...

  Make Good Offers Better   It’s disappointing, frustrating and sometimes, discouraging when you lose a home you want to buy.   One of the hardest lessons for today’s buyers is that writing an offer doesn’t mean that you’ll get the home or even a counter-offer.  The low inventory affecting many o...

      An Unexpected Expense   In a study released by TD Bank, 65% of buyers with mortgages that required mortgage insurance said the higher monthly payment was more than they originally expected.   Private mortgage insurance is required on loans that exceed 80% of the home’s value.  For conventio...

  What is a Seller's Market?   It is generally considered a seller’s market when the conditions favor the seller.  This condition exists when demand is high and supply is low without any significant adverse economic conditions taking place.   Demand is determined by ready, willing and able buyers...

    Don't Leave Home Without...   Planning a summer trip is usually focused on what you’ll do, see and experience.  Enjoy it even more by spending a little time before you leave to make sure your home is safe while you're gone.   Consider these suggestions along with your other normal efforts: Te...

  Equity Dynamics   Equity is the difference in what your home is worth and what you owe. Ideally, as the value goes up and the unpaid balance goes down with each amortized payment made, the equity grows from two directions.   This dynamic leads to increasing a person’s net worth much faster than...

  It It Shows Better... If it shows better, it will probably sell faster and maybe for more money. Once your home is on the market, it's time to look at it like a commodity and through the eyes of potential buyers. In all likelihood, you'll need to take care of these items eventually, so do them ...

    Get Your Offer Accepted As the market shifts from a buyer's market, it's good to know how to improve your chances to have the seller accept your offer.   Once you decide on a home, don't waste time; write an offer and submit it as soon as possible. Competing with another buyer happens more fr...

  Let Your Tenants Send Your Kids to College Most people have lots of things to save for but not always enough discretionary income after the family essentials have been met.   A relatively small investment in a rental home can control a good home that will easily rent, generate positive cash flo...

  Record Improvements Now   There is a significant difference in how the money you spend on your home is treated for income tax purposes.  Repairs to maintain your home’s condition are not deductible unlike rental property owners who can deduct repairs as an operating expense.   On the other hand...