themarycoxteam.wordpress.com - Money

It’s a Big Difference

Posted by Mary Cox on February 11th, 2016

Let’s say that you just won $8,750 on a lottery scratch-off ticket. You’ve decided to be frugal and invest the money and have decided on three alternatives: buying a certificate of deposit, a mutual fund or use the money as a down payment for a $250,000 home.

To compare the three alternatives, let’s look at the equity in each one three years from now.

The certificate of deposit can be invested at 1.3% in today’s market and you believe you can reasonably earn 5% on a mutual fund. You expect the home to appreciate at three percent a year.

The certificate of deposit would be worth $9,096 at the end of three years and the mutual fund would be worth $10,129. However, the equity in the home at the end of three years would be $45,204. That is a four…

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Resource Central

Posted by Mary Cox on November 19th, 2015

Homeowners should recognize that the same trusted professional who helped them buy or sell their home can be a valuable resource while they own their home too.

Think of your REALTOR® as an indispensable homeowner’s resource who can make recommendations about a variety of services that homeowners will use throughout the tenure in their home. This experience far exceeds personal experience because of the day-to-day activities working in the industry.

• To recommend reputable and reasonable service providers.
• To offer information about your community, nearby businesses and local agencies.
• To solicit general homeowner knowledge such as protesting your property tax assessment, determining fair market value, determining the best improvements and…

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The Cost of Co-Signing

Posted by Mary Cox on October 8th, 2015

It seems fairly innocuous; a friend or family member wants you to co-sign on a loan because they don’t qualify. They assure that they’ll make the payments; they’re quite convincing and very appreciative. You don’t want to disappoint them and after all, it’s not like it’s going to cost you anything…is it?

Think of it this way. They couldn’t get a loan unless you co-sign for them. If they don’t make the payments, the lender is going to look to you to repay the loan plus late and collection fees. The lender may be able to sue you, file a lien on your home or garnish your wages.

And it’s not just money that you could be losing, it could be your credit too. Co-signing a loan is a contingent liability that could affect your debt-to-income ratio and your…

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Wait a Year…It Won’t Matter?

Posted by Mary Cox on August 13th, 2015

There is a frequently quoted expression “more money has been lost from indecision than was ever lost from making a bad decision.” Regardless of the extent of its accuracy, most people can recall when procrastination has cost them money. 

There are markets so short of inventory that buyers have become frustrated after losing bids for several homes and have decided to wait until more homes come on the market. In the meantime, the shortage of homes is driving the prices up more by the month.

There are buyers who can’t find what they want for the price they want to pay and think that waiting will somehow change things. In some cases, what they want just keeps moving farther and farther away from them.

The other dynamic in play is, of course, the…

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The 2014 PFD Numbers Are In...

Posted by Mary Cox on September 19th, 2014

 

Here is a great article from ADN.com about the big announcement:

The number is $1,884. That's the amount of this year's Permanent Fund dividend as announced by Gov. Sean Parnell on Wednesday in downtown Anchorage.

"I'm frankly grateful for the Permanent Fund dividend at whatever amount, and I know Alaskans are too, as they save it or spend it for their own needs," Parnell said.

The governor made the announcement in a small conference room at the Atwood building in front of a crowd of dozens of media and about 100 state employees.

The 2014 dividend will be the third-largest check issued since the yearly distributions to Alaska residents began in 1982. The Alaska Permanent Fund Dividend Division said checks and direct deposits…

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