A Safety Net Called Insurance

Hey there! Are you puzzled by the word ‘insurance’? No need to fret, Mister Frisco is here to simplify it for you. First, let’s break down what insurance means. At its core, insurance is a safety net. It’s like a friend who’s got your back when things go wrong. You pay a small amount, called a ‘premium,’ to an insurance company. In return, they promise to help out if you face a big loss. There you have it! The basics of insurance, simplified. Remember, insurance is there to protect you and your wallet. So, it’s worth taking the time to understand it.

Different Ways to Protect Yourself

There are many types of insurance. Let’s look at a few discussed in the podcast. Firstly, home insurance. A house is a big investment. Home insurance protects that investment. If a storm damages your house, or if a guest gets hurt at your place, home insurance has you covered. Secondly, let us talk about car insurance. If you have a car, this one’s a must-have. It helps pay for any damage to your car or to another person’s car if you have an accident. Some car insurance even helps if your vehicle gets stolen.

Picking the Right Safety Net

Now, it’s important to pick the right insurance for you. Not all plans are the same. You need to consider what’s covered, how much it costs, and how much you can afford to pay if something goes wrong. If all this sounds a bit complex, don’t worry. You can always get help. An insurance agent or broker can guide you through the process. They can help you understand what’s what and choose the best plan for your needs. Try to pick agencies with a heart, such as the Gibb Agency.

Let Mister Frisco guide you on how to protect yourself with a safety net. Connect with Mister Frisco today and learn more! Knowledge is power.

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Getting Pre-Approved

Pre-approval is getting approved for a mortgage before you start house hunting. It gives you a clear idea of how much you can spend on a home. This helps you narrow your search and save time looking at homes outside your budget. Getting pre-approved for a mortgage can be a powerful tool. It shows sellers that you’re serious and financially able to purchase a property. To get pre-approved, you’ll need to provide documentation of your income, assets, and debts.

Ask Your Agent

Real estate agents have extensive knowledge of the local housing market. They can provide valuable insights into the current market conditions in a given area. An excellent real estate agent, such as Viktor Taushanov can help you find the right home and guide you through the buying process. Look for an agent with experience in your desired location who understands your needs and budget.

Start House Hunting

You will want to find the right home that meets your needs and budget. With your budget and pre-approval, it’s time to look for your dream home. Consider factors such as location, size, and style. Be bold, and don’t be afraid to ask questions. Request multiple viewings if you feel the need to. With all these in mind, you can make your house-hunting journey successful.

Are you looking for tips before getting your own house? A renowned realtor like Mister Frisco has your back. Give us a call now, and Mister Frisco can make sure that you find your dream home.

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Rates May Continue to Rise

Nobody likes to enter an equity market just before the peak, and you don’t want to do that with interest rates, either. But, if the past few months are any indication, now is still the best time because things may be more expensive later. Although these aren’t your parent’s interest rates of the low threes, they are certainly not your grandparent’s interest rates of the low twenties. Locking at a lower rate for 15 or 30 years could have you smiling all the way to the bank.

Real Estate is a Real Asset

Today’s market is nothing like the pre-2008 market, where people who could not afford a loan at any rate were securing homes well beyond their means. Today’s homebuyers can still rely on having an asset that appreciates, but more importantly, a home they can enjoy. Finding the right real estate agent is critical because avoiding overpaying buoys you from being underwater in the home value versus mortgage equation.

A CoreLogic analysis shows U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of over $3.6 trillion since the second quarter of 2021, a gain of 27.8% year over year. Despite current market shifts, this isn’t 2008.

Falling Prices

There’s quite a consensus that the recent spike in home prices was part of the side-effects of the global pandemic. Now that the fever has chilled, prices are sinking into reality. Lower prices and slowly rising interest rates mean less competition for homes and lower prices. If you began your home search two years ago, you would likely see some of the dream homes on your list for sale at significant discounts. So find the right realtor and get into your dream home today!

It’s still a great time to buy a house, so contact Mister Frisco and Globus Realty. Don’t wait on your forever home. Live happily today!

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The median home value in Addison has gone up 1.7% since this time last year. From roughly $202,000 in 2014, to just over $206,000 now. Additionally, home values are predicted to rise another 2.0% within the next year.

The median list price per square foot and the median rent price data, were not collected for this study.

The first step of the foreclosure process happens when a homeowner fails to make a mortgage payment. This is known as mortgage delinquency. The percent of delinquent mortgages in Addison is 9.2%, slightly lower than the national value of 6.0%.

U.S. home values have fallen by more than 20% nationally from their peak in 2007, until their trough in 2011. Many U.S. homeowners are now considered under water on their home mortgages. While some Dallas homeowners have literally found their homes under water, for the sake of this study, under water means homeowners owe more on their mortgage than their home is worth. 21.7% of Addison homeowners are under water, which is lower than the Chicago Metro area average of 23.7%.

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