Reach your goals
Buying a home in a great area may not be great for your money
When considering their next move, homebuyers sometimes find themselves drawn to trendy areas. Maybe it’s a city with a big music scene or an irresistible cultural atmosphere. However, moving to one of these cities may be more expensive than it seems.
Newcomers to Portland, Oregon are one example. This city is a popular destination for those who crave the lifestyle it offers. However, not all newcomers are aware of the so-called “culture tax,” especially those moving from states without a state income tax.
Some would-be Portland residents are doing the math and finding more economical options. For example, moving to nearby Vancouver, Washington, puts Portland just 10 miles away. Others decide to rent out their current homes and become renters themselves. Spending just a few months as a renter in a trendy city can help you make the right decision, rather than one that may end up becoming unaffordable.
No matter what your plans are, APM Loan Advisors They can help you decide on your next move by offering one or more mortgage options, or by providing you with fast, free loan pre-qualification.
Mortgage IQ
Is rising income a hidden reason for the housing shortage?
It has become a common assumption that rising real estate prices are largely due to fewer homes being built due to zoning restrictions and opposition to new development. However, recent research challenges these beliefs, because it has revealed a different reason: unevenly rising wages.
As the labor market develops, some see their income increasing faster than others. This, in turn, makes homeownership accessible to some, but not all. The researchers concluded that income inequality is the reason why homeownership has become out of reach for many Americans.
Another factor is more obvious: different urban areas become more or less popular every year, and housing prices reflect these changes. For example, regions with high remote workers in 2021 and 2022 may see more sellers than buyers, with some companies actively eliminating the home office option for their employees.
The takeaway doesn’t discourage as much as it enlightens. Understanding what actually drives prices – supply, demand, or the gap between high-income earners and everyone else – is important when evaluating solutions. Staying informed puts consumers in a better position to make decisions that fit their specific circumstances.
Financial news
Low-risk investments for retirees
While retirement is designed to provide rewards for hard work and smart investing, that doesn’t always mean retirees can put their investments on autopilot. Today’s retirees deal with high interest rates, constant inflation, and volatile stock markets. This means that a low-risk portfolio may not generate enough growth to sustain a longer retirement.
Alternatively, today’s retirees can choose to diversify their investment portfolio, so that their current money lasts throughout their retirement.
Treasury Inflation Protected Securities, or TIPS, are U.S. government bonds whose principal adjusts for inflation, helping maintain purchasing power over time. With inflation still in the picture, and oil prices at high levels, retirees may want to consider these matters to protect income from future inflation.
High-yield savings accounts can offer retirees better rates than a typical savings account, while providing easier access to funds. It may be a better place to store money that will be needed sooner rather than later.
Step certificates of deposit (CDs) can lock in today’s rates without any market risk. However, these assets are held until maturity. Opening multiple certificates of deposit with different maturity dates – known as a ladder – can be the solution to limited liquidity, balancing access and return.
Municipal bonds can be an option for retirees in a higher tax bracket, as they provide tax-free income. Municipal bonds, or munis, are issued by state and local governments to finance projects such as schools, roads and hospitals. However, retirees in lower tax brackets will not benefit as much as those in higher tax brackets, and some annuities carry risks.
The information in this article is provided for general informational purposes only and should not be construed as investment, financial, tax or legal advice. For guidance tailored to your individual financial situation, contact APM Loan Consultant For referral to a qualified investment advisor or Certified Financial Planner (CFP®).
Did you know?
How to resell your home if the sale fails
If the home sale doesn’t close as planned, it can be frustrating, especially if you’ve already started planning your next move. However, it is becoming more common, especially when prices change without warning.
If you’re planning to re-enroll soon, here are some things to keep in mind. A thoughtful reset can put you in a stronger position than before, but simply hitting the “re-list” button can backfire as buyers and agents can see that history. Instead, look at why the sale failed and address it if possible.
If the buyer’s home inspector finds major problems, fix them before relisting. Bringing your own inspector can help you make sure this doesn’t happen again.
If the price of the home is causing buyer pushback, it’s time to readjust that to fit today’s market. Even a small change will help your home appear in more buyer searches and spark new interest.
If the buyer can’t qualify for financing, this is the place APM Loan Consultant can help. Ask interested buyers to contact your advisor so they can review their finances and credit history. If you decide to work with a new agent, contact your agent APM Loan Consultant For referral.
Other re-listing strategies include updated photos, more organization, and implementing some affordable curb appeal upgrades like new landscaping.
Personal finances
How a sinking fund can help you plan for the future
From summer vacations to holiday shopping, many expenses that might seem like a financial curve are actually so predictable. However, it’s not always easy to plan for them in advance, especially when you’re balancing other expenses. One solution: create a sinking fund. It differs from an emergency fund, in that it helps you finance annual and quarterly expenses before they arrive, rather than unexpected bills.
Sinking money is nothing new. One of the first such institutions was established by the English government during the 1700s for the purpose of “dumping” the national debt.
Here are some expenses that a sinking fund may help you manage:
If you decide to create your own sinking fund, you will first need to review your last 12 months’ expenses and identify those similar to those listed above. Next, estimate the annual cost of each item.
Choosing an account for your sinking funds is next. Make sure the funds are liquid — meaning you can access them without penalty. An account that allows you to make automatic transfers is also a good idea.
Now you’re ready to set savings goals. For example, if your next family trip to the beach will cost about $3,000, you’ll need to save about $250 per month.
Draining money won’t eliminate all financial challenges, but it can help you avoid last-minute swaps like withdrawing from an emergency fund or using a high-interest credit card.
food
Snoop Dogg salad with grilled chicken
A classic salad can become a summer favorite when you import the flavors directly from your backyard cookout. this BBQ Chicken Cobb Salad Created by Snoop Dogg, this dish also features blue corn tortilla chips for extra crunch.
Around the house
Speed up the spring cleaning process
Even if you secretly enjoy dusting and vacuuming, you probably don’t have time to do it twice — but if you don’t clean areas and objects in the right order, this can happen. Here’s a guide that will help you do better in less time.
Before you begin, declutter where possible and take an inventory of your cleaning supplies. Next, decide which rooms you want to tackle first – you can set priorities if you like. Give yourself up to a week to finish spring cleaning.
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Start by cleaning the highest items first. This is important, because if you don’t clean them until later, you could end up re-cleaning whatever is underneath. You can wipe or vacuum the ceiling fan blades first and then spray the cleaning cloth so you don’t spray the ceiling instead.
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Walls are next. Before cleaning up any smudges, use a vacuum cleaner to remove any cobwebs near the ceiling.
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If your home has window blinds, you may want to clean one room each day. If the curtains do not need dry cleaning, you can freshen them in the dryer.
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Upholstered furniture will need a complete vacuum, including under the cushions. Neutralize any pet odors with your favorite fabric freshener.
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Since cleaning countertops is something you do frequently, focus on cabinets, door handles, drawer handles, and light switches.
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Check the manuals of your refrigerator and oven and clean them inside and out.
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Before you start cleaning the floors, clean the baseboards and door frames.
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Vacuum your carpets and rugs and determine if they need professional cleaning.
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Hardwood floors and laminate floors may look similar, but depending on their finish, they may need different cleaners. For example, hardwood floors may or may not have a protective finish. Use a microfiber mop to prevent scratching the finish.
