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Author: Sumit Agarwal
Publisher:
ISBN:
Category :
Languages : en
Pages : 40
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Book Description
In this paper we investigate if financially sophisticated households, as measured by schooling and work experience, are less likely to make financial mistakes when buying and owning a home. Surprisingly, we find that financial sophistication does not have a uniform impact across households' financial decisions. While sophisticated households are less likely to pay too high a mortgage rate and more likely to refinance when it is financially advantageous to do so, they are also more likely to over pay for a house and less likely to default when significantly underwater in their mortgages. We argue that some decisions, like purchasing a home or defaulting on a mortgage, are emotional decisions while others, like deciding on mortgage terms or when to refinance, are analytical decisions more amenable to the analyses that sophisticated households are able engage in. Consistent with this, we provide evidence that households learn over time to make better mortgage rate and refinancing decisions but not better house purchase price decisions.
Author: Sumit Agarwal
Publisher:
ISBN:
Category :
Languages : en
Pages : 40
Get Book Here
Book Description
In this paper we investigate if financially sophisticated households, as measured by schooling and work experience, are less likely to make financial mistakes when buying and owning a home. Surprisingly, we find that financial sophistication does not have a uniform impact across households' financial decisions. While sophisticated households are less likely to pay too high a mortgage rate and more likely to refinance when it is financially advantageous to do so, they are also more likely to over pay for a house and less likely to default when significantly underwater in their mortgages. We argue that some decisions, like purchasing a home or defaulting on a mortgage, are emotional decisions while others, like deciding on mortgage terms or when to refinance, are analytical decisions more amenable to the analyses that sophisticated households are able engage in. Consistent with this, we provide evidence that households learn over time to make better mortgage rate and refinancing decisions but not better house purchase price decisions.
Author: James M. Dahle
Publisher: White Coat Investor LLC the
ISBN: 9780991433100
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
Written by a practicing emergency physician, The White Coat Investor is a high-yield manual that specifically deals with the financial issues facing medical students, residents, physicians, dentists, and similar high-income professionals. Doctors are highly-educated and extensively trained at making difficult diagnoses and performing life saving procedures. However, they receive little to no training in business, personal finance, investing, insurance, taxes, estate planning, and asset protection. This book fills in the gaps and will teach you to use your high income to escape from your student loans, provide for your family, build wealth, and stop getting ripped off by unscrupulous financial professionals. Straight talk and clear explanations allow the book to be easily digested by a novice to the subject matter yet the book also contains advanced concepts specific to physicians you won't find in other financial books. This book will teach you how to: Graduate from medical school with as little debt as possible Escape from student loans within two to five years of residency graduation Purchase the right types and amounts of insurance Decide when to buy a house and how much to spend on it Learn to invest in a sensible, low-cost and effective manner with or without the assistance of an advisor Avoid investments which are designed to be sold, not bought Select advisors who give great service and advice at a fair price Become a millionaire within five to ten years of residency graduation Use a "Backdoor Roth IRA" and "Stealth IRA" to boost your retirement funds and decrease your taxes Protect your hard-won assets from professional and personal lawsuits Avoid estate taxes, avoid probate, and ensure your children and your money go where you want when you die Minimize your tax burden, keeping more of your hard-earned money Decide between an employee job and an independent contractor job Choose between sole proprietorship, Limited Liability Company, S Corporation, and C Corporation Take a look at the first pages of the book by clicking on the Look Inside feature Praise For The White Coat Investor "Much of my financial planning practice is helping doctors to correct mistakes that reading this book would have avoided in the first place." - Allan S. Roth, MBA, CPA, CFP(R), Author of How a Second Grader Beats Wall Street "Jim Dahle has done a lot of thinking about the peculiar financial problems facing physicians, and you, lucky reader, are about to reap the bounty of both his experience and his research." - William J. Bernstein, MD, Author of The Investor's Manifesto and seven other investing books "This book should be in every career counselor's office and delivered with every medical degree." - Rick Van Ness, Author of Common Sense Investing "The White Coat Investor provides an expert consult for your finances. I now feel confident I can be a millionaire at 40 without feeling like a jerk." - Joe Jones, DO "Jim Dahle has done for physician financial illiteracy what penicillin did for neurosyphilis." - Dennis Bethel, MD "An excellent practical personal finance guide for physicians in training and in practice from a non biased source we can actually trust." - Greg E Wilde, M.D Scroll up, click the buy button, and get started today!
Author: Eric Tyson
Publisher: John Wiley & Sons
ISBN: 111919170X
Category : Business & Economics
Languages : en
Pages : 432
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Book Description
America's #1 bestselling home buying guide Are you looking to buy a house, but don't quite know where to begin? Have no fear! This new edition of Home Buying Kit For Dummies arms you with Eric Tyson and Ray Brown's time-tested advice and strategies for buying a home in current market conditions. Packed with valuable tips for getting the best deal on your new home and navigating an ever-changing housing market, it shows you how to find the right property, make smart financial decisions, and understand the latest lending requirements and tax implications. Thanks to looser lending standards, lower down payment mortgages, and a wider selection of homes to choose from, first-time homebuyers are making a comeback in the housing market. But if you don't know a Colonial from a counter offer, the process of buying a home can be daunting. Luckily, this bestselling guide is here to take the confusion out of the process! In plain English, it provides step-by-step guidance for buying the home of your dreams, from inspecting a property to evaluating a location to making sense of loan applications, tax documents, and counter offer forms. Negotiate your best deal and obtain a lower down payment mortgage Improve your credit score Make sense of changing lending standards Take the confusion out of lending laws, mortgage rates, and marketplace conditions Whether you're a renter, investor, or current homeowner, everything you need to plant roots in a new home sweet home is just a page away.
Author: Gary N. Smith
Publisher: Financial Times/Prentice Hall
ISBN: 9780137133789
Category : Home ownership
Languages : en
Pages : 0
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Book Description
“This book couldn't be timelier. With hundreds of thousands of Americans expected to lose their homes because they took out mortgages beyond their ability to pay, it is clear that home buyers need assistance-beyond the reassurance of the mortgage broker trying to close the deal and get his commission. This book, written in an easily accessible manner, provides that assistance; it lays out the economics of buying, owning, and financing a home.” –Joseph Stiglitz, Columbia University, 2001 Nobel Prize in Economics “The purchase of a home is the most significant investment decision confronting nearly all adults. Yet sound advice, untainted by the self-interest of real estate and mortgage brokers, is extremely scarce. In Houseonomics, the Smiths provide simple and understandable answers to the vexing questions surrounding homeownership, making it a valuable resource for anyone serious about their financial future.” –Bryan White, Managing Director, BlackRock “ Houseonomicsoffers great insights about how to think about homeownership. Its approach is innovative, but the analysis is grounded in common sense. A useful primer for what is the most important investment most people make in their lives.” –Paul Efron, Retired Partner and Advisory Director, Goldman Sachs & Co. “This book is a common sense response to those who question the value of homeownership. The Smiths validate the argument that homeownership is normally a key component of lifelong wealth building. They present a practical guide to basic financial analysis for those planning on owning a home or who currently own a home.” –Doug Duncan, Chief Economist, Mortgage Bankers Association “There is a lot of wisdom in Gary and Margaret Smith's Houseonomicsregarding the biggest investment that most people ever make. It is so well written that reading it is a joy and yet almost everyone can gain valuable knowledge in the process. The time you take to read this book will be a smart investment indeed. Having taught economics at Stanford for 35 years, I can only wish that more authors were as knowledgeable as the Smiths and wrote this well.” –John B. Shoven, Stanford University, co-author with Secretary George P. Shultz, Putting Our House in Order: A Guide to Social Security and Health Care Reform “The “Home Dividend” is a powerful concept and, indeed, an engine for prosperity.” –Ed Yardeni, President, Yardeni Research For generations, buying a home has been the best investment Americans could make. But, now, some so-called “experts” claim that it's foolish to be a homeowner. They're wrong. Houseonomicsexplains why a home is still an excellent investment for most people in most places&and helps you make smarter housing decisions wherever you are. This book isn't for aspiring slumlords or flippers: It's for anyone who wants to move toward financial security, with a roof over their heads, and a home to call their own. You won't find “too good to be true” schemes here: You'll find a sensible, intelligent, and totally up-to-date explanation of the real economics of homeownership. Discover how to develop an achievable vision for financial prosperity via homeownership, and treat housing decisions as the investment decisions they really are. Then, learn how to negotiate more effectively when purchasing, selling, financing, refinancing, or remodeling; decide whether to prepay your mortgage&even intelligently evaluate rental/vacation properties. It's never been more important to get clear-headed, sensible, objective advice on homeownership-and that's exactly what Houseonomicsdelivers. "Your home: an investment, not a speculation Understanding and calculating your “home dividend” "Why now is still a good time to own a home Even if home prices don't increase in the coming years "Choosing the right house-and the right mortgage Sensible advice that cuts through the lies, hype, and fear "Refinancing, home equity loans, and remodeling The right ways to make the right decisions
Author: Lois A. Vitt
Publisher: Financial Times/Prentice Hall
ISBN: 9780131455009
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
"Buying a house may be love at first sight or seemingly take forever. This terrific book covers all the bases. Readers will enjoy discovering the secrets as they are revealed. There's something valuable for everyone." -Willard Scott, Noted NBC Radio and Television Personality "This book helps you get at not only the practical aspects of home buying and selling, but also the emotional side of what is usually the largest and most anxiety-riddled transactions of your lifetime. If you are thinking of buying or selling a home, it pays big dividends to read Lois Vitt's advice before you do!" -Jordan E. Goodman, America's Money Answers Man and author of Everyone's Money Book "If you want to get in touch with your inner home buyer-and make clearer decisions based on those insights-this is the book to take you there." -Kenneth Harney, Syndicated Real Estate Columnist, Washington Post Writers Group. "The most significant purchase a person makes in a lifetime is a home. The process of finding, purchasing, or selling a home can be down right nerve-racking. Lois Vitt has written a thought-provoking book that addresses both the technical and emotional aspects of home ownership." -Deborah Owens, Financial Commentator and author of Confident Investing and Nickel and Dime Your Way to Wealth. Buying a home is not just the most important financial decision: It is also one of the most important emotional decisions. With 10 Secrets to Successful Home Buying and Selling, you get it right! Lois A. Vitt helps you discover your "housing value system," your personal housing psychology. Learn how your expectations compare with your family's expectations, so that you can make the best decisions for everyone. After you discover what you really want, answer crucial housing questions, such as: Rent or buy? Move or remodel? Sell or hold? Refinance? Vitt's practical examples, real-life stories, and easy quizzes help you make housing decisions that enrich your life emotionally and financially! © Copyright Pearson Education. All rights reserved.
Author: Eric Tyson
Publisher: John Wiley & Sons
ISBN: 0470500662
Category : Business & Economics
Languages : en
Pages : 378
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Book Description
Now updated — America's #1 bestselling home-buying book! Want to buy a house, but concerned about the market? Have no fear — this trusted guide arms you with Eric Tyson and Ray Brown's time-tested advice and updated strategies for buying a home in current market conditions. You'll discover how to find the right property, make smart financial decisions, and understand the latest lending requirements and tax implications. New to this edition — new and expanded coverage to help homebuyers take advantage of low home prices, understand the subprime mortgage crisis, obtain a mortgage, and improve credit scores To buy or not to buy? — weigh the advantages of owning versus renting, get your finances in order, and know how much house you can safely afford Handle financing — understand your credit rating, navigate the different types of mortgages, and complete all paperwork Play the real estate game — find the right location and property, assemble an all-star real estate team, and make the most of the Internet's real estate resources Let's make a deal — negotiate with finesse, make successful offers, inspect and protect your new home, and cover all your bases in escrow "Invaluable information, especially for the first-time home buyer." —Fort Worth Star-Telegram "A reference you'll turn to time after time." —St. Petersburg Times Open the book and find: Reasons why home prices rise and fall Hands-on instruction for buying a home in up or down markets How to pay the price you want The best mortgage options A sample home-buying contract Pros and cons of comparable market analysis Tips for overcoming mortgage and appraisal problems How to cope with buyer's remorse The best real estate Web sites
Author: Martin M. Shenkman
Publisher: John Wiley & Sons
ISBN: 0471201472
Category : Business & Economics
Languages : en
Pages : 305
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Book Description
The Ultimate guide to finding and financing a home Almost everyone aspires to owning a home, but the reality of coming up with a large enough down payment often stands in the way of making that dream come true. No longer! How to Buy a House with No (or Little) Money Down has helped tens of thousands become homeowners, and now it's your turn! Financing your dream home can be possible even if you never thought you could. This completely updated and expanded Third Edition shows you how. Even if you are relatively cash-poor or have a less-than-perfect credit rating, real estate and financial experts Martin M. Shenkman, CPA, MBA, JD, and Warren Boroson can help you obtain a mortgage and find the house you've always wanted--with expert guidance through all the confusing legal and tax issues involved. Featuring new sections on choosing an agent, using the Internet to search for an agent and a house, and how to win the bidding war, this clear, nontechnical guide tells you how to: * Make seller financing the ticket to your dream home * Take advantage of equity sharing, equity kicker mortgages, and other esoteric techniques * Use lease options to build equity while renting * Apply for and obtain fha, va, family, and other loans you may qualify for * Inspect a house from top to bottom, inside and out * Bargain with a seller and save a bundle * And much, much more You can obtain a down payment and get the most house for your buck--simply read How to Buy a House with No (or Little) Money Down and start making your dream a reality!
Author: Larry Douglas
Publisher: Createspace Independent Publishing Platform
ISBN: 9781548696399
Category :
Languages : en
Pages : 112
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Book Description
This book gives the first time home buyer the basic knowledge of the home buying process. The fundamentals to guide you through the journey and process of making a financial decision to purchase your first home.
Author: N.D NGWANA
Publisher: Billion Ideas Company
ISBN:
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
Navigating the world of homeownership can be daunting, especially for the millennial generation facing unique financial challenges. "The Millennial's Guide to Homeownership: From Saving to Signing" provides a clear, tailored roadmap for young adults looking to transform their dreams of owning a home into reality. Key insights include: Understanding the financial prerequisites for homeownership in today's market. Step-by-step guidance on the home-buying process, from saving for a down payment to navigating mortgage options. Strategies to bolster credit scores and secure favorable loan terms. Tips for finding the right property, including considerations for location, size, and future resale value. Navigating home inspections, negotiations, and the final closing process. Authored with the unique challenges and aspirations of millennials in mind, this guide demystifies complex real estate jargon and provides actionable strategies to overcome the hurdles of the current housing market. Moreover, the book emphasizes the importance of making informed and sustainable decisions that align with one's financial and personal goals. "The Millennial's Guide to Homeownership" is not just a book—it's a mentor, offering invaluable lessons and insights to empower a new generation of homeowners. If you're a millennial dreaming of owning your space, this guide is the key to unlocking the doors of your future home. Dive in and embark on a journey from saving to signing, all with confidence and clarity.
Author: Mark Ferguson
Publisher:
ISBN: 9781521055656
Category : House buying
Languages : en
Pages : 318
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Book Description
A house is the biggest purchase most people will ever make, but most people don't know the best way to buy a home. The book covers everything you need to know about the home buying and selling process so that you are not taken advantage of. including:- Deciding on how much money to spend on a house(don't let your lender or agent decide for you!)- Deciding whether you should buy or rent- How to get a great deal on a house that will build instant equity- How to get the best loan with less money down (if that is your goal) and the lower overall cost- How to find the best real estate agent and lender and why you need them- How the process works including inspections, appraisals, title insurance, mortgages, closings, escrows, HOAs, etc...- How to fix up your house and maintain it- How to find contractors to help you fix up your house- How to sell your house for the most money- When and if you should refinance your house- A glossary full of definitions for real estate terms- Plus bonus chapters on starting a career in real estateThere has been a lot of talk about real estate being a bad investment. Many financial and economic advisers suggest buying a home may be worse for your finances than renting. However, I think most people do not take the home buying or selling process seriously. They put all their faith in other people to get the right deal done for them. If you blindly buy a house based on what your real estate agent or lender tell you, it may not be a good investment! However, if you are able to find great deals, get a good loan, and take care of your home, real estate can be an incredible tool to build wealth. I am a real estate agent, and real estate investor who has done very well buying hundreds of houses. I try to teach what I know to others to help them make smarter and better decisions. If you know the right way to buy a home, it beats renting every time. There is a lot of information in this book, and depending on your real estate experience you may know some of it, or be familiar with a lot of it. I have created four sections with many chapters to make it easy to navigate. The first part of the book focuses on the bare basics of buying and selling houses, while the later sections go deeper into each aspect of real estate. I hope you enjoy the book and learn how to make your real estate purchases awesome investments.
