February 17, 2021
By Ann Laurence
My father does not like debt. My father does not like debt in the way that most people don’t like spiders, or brussel sprouts. It irks him. He (and his own father) both worked their way out of debt, and have been fortunate enough to never look back.
But for most in America, the concept of a little debt (or even a lot of it) isn’t too far off from the concept of satisfying a craving for your favorite food. Sure, it might not be the most healthy meal in the world, but you’re balancing it along with a handful of mixed nuts and salads, right? Here’s the clincher though: my father may not like debt, but there are two things in the whole world he would be willing to pay off: the first? School. The second? A house.
Nowadays, most newlyweds can’t imagine the wedding bells ringing, going on the long-awaited honeymoon, and coming back to walk in the front door of their very own home. We live in an apartment-driven economy, especially those of us in larger metropolitan areas. The starter homes that are still affordable are often in expanding markets (read: small towns), and even those can be out of the price range for a young pair who likely just paid for their own ceremony, reception, and honeymoon as well. Vow2Save is out to change that. A new program featured across wedding websites all over the internet, Vow2Save utilizes the incredible power of crowdsourcing to keep couples away from the immediate debt of homeownership – and helps get them in the front door smoothly.
Each couple that registers with the program is assigned their own free website that connects with PayPal, and serves as the platform where friends and family members can contribute to help the pair with their down payment. Anyone can set up a crowdfund: the process has become part of the modern-day internet canon of easy how-tos; like Facebook, Instagram, or Snapchat. But Vow2Save takes it a step further, providing template emails, posts, infographics and more to share with loved ones. They’ll help connect you with Realtors all over the country so couples are free to roam: and what’s more? There’s no hassle in dealing with the 6pm rush at Bed, Bath & Beyond to return that third salad spinner you got from your Aunt, for a gift card you’d likely spend on a $10 or under gaggift- as-seen-on-tv in the checkout line anyway.
Rather than furniture or flatware, Vow2Save’s founders see this as an opportunity to help young couples come up with something more substantial and long lasting: property. Your secure website connects to your Paypal and Vow2Save will never expire. You completely control the account you want connected to the platform. When you’re ready, the ‘dream team’ of your choice will help you into your new house or condo, and you can start your marriage knowing that the burden of a down payment has been handled, and you have checked off two of the biggest investments in a lifetime, at the same time: marrying the guy or girl of your dreams, and moving into a financially sound future. Even my father couldn’t argue with that logic.
For more info, visit www.vow2save.com
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Should I Wait For Housing To Crash Further Before I Buy A House? 3 Reasons The End of 2022 Could Be The Very Best Time To Jump In
Prices falling in expensive cities
In two-thirds of major regional housing markets — 98 out of 148 — prices continue to drop, especially in more expensive locations.
We may see expensive markets fall further, which if that happens sooner than later, would make it an excellent time to buy into an expensive market. This wouldn’t have registered as a possibility even a few months back.
It’s difficult to predict if this will happen. And if so, whether falling prices become offset by the federal interest rate hikes practically certain to arrive in the coming months.
The only way to know for sure is to wait until the latest rate hike sets in.
Meanwhile, keep in mind that — as with any investment — it’s best time to buy is usually when prices are low.
With mortgage rates dropping and fee changes in the pipeline, now may be the time to buy that home Do you like this Article ? Sign up HERE for your FREE M&M Account to receive more Real Estate related information and news and THIS article. M&M Membership...
The days of waiving contingencies such as appraisals and forgoing inspections are fading into the rearview mirror. Still, contract activity remains slightly competitive depending on your location.
At least 24% of buyers waived the inspection contingency in December 2022, according to the National Association of Realtors confidence survey, up from 16% a month prior and 19% one year ago. An additional 24% of buyers waived an appraisal contingency in December, up slightly from 16% in November and 21% a year ago.
Home inspection contingencies are particularly important because it can let you know if there’s a deal-breaking issue with the property before a purchase occurs. It can also help you negotiate repairs with the seller, which is becoming increasingly common in today’s market.
“If buyers have this short window to buy where they can get incentives to purchase, [they] would rather buy where they have an opportunity to really think about it, get an inspection, a financing contingency and not feel rushed,” Jeff Reynolds, broker at Compass and founder of UrbanCondoSpaces.com, told Yahoo Finance.