"Booming Real Estate Trends in 2018" "Why You Should Sell Your Home This Year!" "The B Word-The Bubble Is Near" . . .ok, so in perusing the internet for real estate news that would pertain to my readers and the point of this whole blog, I came to the realization that there is an awful lot of junk out there. Seriously. As I read through the headlines, which three are featured above, I thought, wow, doomsday headlines-nice. Why don't they just say- "SELL NOW- THE SKY IS FALLING!" While I am by no means an economist-this isn't my first rodeo. I've been a real estate agent nearly 20 years, and a home owner even longer. Both my husband and I depend greatly on the ebb and flow of the market-as we are both self employed, in industries that can either rise to great heights or sink like the Titanic. We are lucky-and by lucky I mean we have been able to keep our heads above water. I attribute this to a couple of things.
Step 1: Don't spend more than you make. Shocker I know. I'm sure you're surprised by my radical advice, but I swear, if you follow it-you'll be ok 100% of the time. Really.
Obviously life has it's ups and downs and unexpected expenses, which leads me to Step 2.
Step 2: Put some money away every month in a savings account. This is for the unexpected items stated in Step 1. You never know-you could get sick, have a leaky water heater, or a fender bender. It's always good to have extra money in case you need it. Now, I know, "What if I don't have any"??? Find it. You would be surprised how resourceful you get when you have to be. Skip the latte one morning a week, call and find out if you can lower your cable/phone/electric bills, etc. be creative. If my Husband and I made it through the last recession with a new baby (I was at home and he was home by 9am-Yes AM and no, he doesn't work nights) you can too. There are several resources to figure out how much money you 'should' have saved. One good rule of thumb is at least 3-6 months of total monthly expenses.
Step 3: If you own and are worried about the property value falling-Don't worry. Yes, it's that simple-Don't worry. Unless you have over mortgaged yourself and completely ignored the advice in Step 1 and 2, just ignore the market. The property values don't affect you unless you have to sell while it's down. Sounds completely crazy, I know. But, why worry about the house value due to a downturn in the economy? This is something we have no control over. Life has ups and downs, and the economy is one of them. It's the things you do to prepare for the down times that make the difference. None of us have a crystal ball, but we can be prepared. Being prepared for a natural disaster is touted as being one of the main factors in surviving a natural disaster, so why wouldn't being prepared also be a main contributing factor to surviving a financial disaster?
DON'T PANIC! Be prepared. Despite what the news headlines would lead you to believe, the sky is not falling.
This is not THE chicken little-it is merely a little financially stable chicken.
I am by no means a financial advisor, economist or expert in any financial realm, I am an average person with a little common sense. If you would like advice from others who are experts I can recommend a few to look into. Just e-mail me.
Step 1: Don't spend more than you make. Shocker I know. I'm sure you're surprised by my radical advice, but I swear, if you follow it-you'll be ok 100% of the time. Really.
Obviously life has it's ups and downs and unexpected expenses, which leads me to Step 2.
Step 2: Put some money away every month in a savings account. This is for the unexpected items stated in Step 1. You never know-you could get sick, have a leaky water heater, or a fender bender. It's always good to have extra money in case you need it. Now, I know, "What if I don't have any"??? Find it. You would be surprised how resourceful you get when you have to be. Skip the latte one morning a week, call and find out if you can lower your cable/phone/electric bills, etc. be creative. If my Husband and I made it through the last recession with a new baby (I was at home and he was home by 9am-Yes AM and no, he doesn't work nights) you can too. There are several resources to figure out how much money you 'should' have saved. One good rule of thumb is at least 3-6 months of total monthly expenses.
Step 3: If you own and are worried about the property value falling-Don't worry. Yes, it's that simple-Don't worry. Unless you have over mortgaged yourself and completely ignored the advice in Step 1 and 2, just ignore the market. The property values don't affect you unless you have to sell while it's down. Sounds completely crazy, I know. But, why worry about the house value due to a downturn in the economy? This is something we have no control over. Life has ups and downs, and the economy is one of them. It's the things you do to prepare for the down times that make the difference. None of us have a crystal ball, but we can be prepared. Being prepared for a natural disaster is touted as being one of the main factors in surviving a natural disaster, so why wouldn't being prepared also be a main contributing factor to surviving a financial disaster?
DON'T PANIC! Be prepared. Despite what the news headlines would lead you to believe, the sky is not falling.
This is not THE chicken little-it is merely a little financially stable chicken.I am by no means a financial advisor, economist or expert in any financial realm, I am an average person with a little common sense. If you would like advice from others who are experts I can recommend a few to look into. Just e-mail me.
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