Friday, February 1, 2008

Florida Mortgage & Real Estate | "Market" talk...

Listening to the News - Local in Florida or National on CNN, Headline News or MSNBC - you learn that there is a big chasm in the interpretation of "The Market" and what that actually refers to.

NYSE Market Jpeg from Wikipedia To some, "The Market" is a MacroEconomic entity that encompasses all the good and especially the bad from "Sea to Shining Sea".  It also includes the downturn of housing prices in Florida, the Subprime Mortgage Meltdown, and all things in between. 

Unfortunately, "The Market" should be viewed through a MicroEconomic looking glass if you are really strategizing and analyzing properly.

So when I hear someone say, "Well, due to this market..." I wonder what they're referring to? 

Could it be just an ignorance of the difference between Macroeconomics and Microeconomics...

Comparing Daytona Beach Florida versus Sebring Florida is apples to oranges but too many people have been slinging mud about "The Market" without realizing how sweepingly generalities as such just prove their own susceptibility to myopia.

So when you hear someone say, "The Market"... figure out which one they are talking about.  The national Morning News generality or the local real estate professional's local perspective.

Maybe you can tell me now which one is "in the know".

For more details on this phenomenon, read the full article by following this link -o-> Florida Real Estate & Mortgage | Prognosticating the Market(s)

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David A. Podgursky, MBA
The Mortgage Go To Guy!
Your Source for Residential and Commercial Mortgage Loans in Florida

Tuesday, December 18, 2007

Florida Mortgage | Financial Advice ~ Own your home outright - Good or Bad Advice??

Diversify Diversify Diversify... that's the mantra of today's Financial Planner.  Many people disagree with that quote - big notable investors like Trump, Buffett etc...

But that's what we're taught... diversification reduces risk and increases return over the long term.

But ... when we're talking about our Primary Residences and diversification, are traditional Financial Advisors barking up the wrong tree??

Most traditional Financial Advisors are eager to get you on the path to owning your house outright.  They have all sorts of ways to teach you how to scrimp and save so that when you are in your 50's and 60's you have paid off your house.

But... what exactly is the advantage of paying off your house?

If their mantra is "Diversify Diversify Diversify" yet in another breath they say, "No Mortgage, No Mortgage, No Mortgage" then aren't they contradicting themselves??

Let me tell you why they are!

Because they are essentially telling you that you need to take a large portion of your potential retirement funds... your nest egg... and sink those funds into an illiquid asset.

These are funds that should be there for you in retirement...but instead this large sum of money is funneled into your house where you cannot use it.

Think of it...sometime in the future when you need money for something big - like an emergency or to finally replace that old car that just passed away right before you could pass it on to your grandson... and you have worked a long time to make that money.  Then you have to call someone like me and I have to tell you how much it will COST YOU to access your money!

To read the entire article, follow this link -o--> Florida Mortgage | Real Estate, Investment and your Primary Residence

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David A. Podgursky, MBA
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

Florida Affordable Housing | great choice for your College Student instead of the dorm or apartment

Trying to figure out where your college student will live while he/she   is at school? 

  • Dorm is reserved for freshman? 
  • Frat house is only for parties?
  • Off campus apartments are in terrible condition and expensive?

Consider buying an affordable housing condominium for your student instead!

Using FHA loans, you can qualify as a non-occupant co-borrower and have your child on the loan to purchase a great condominium or townhouse near campus.

Why would you consider it?

First of all, Credit.  This is a great credit builder.

Secondly, most students prefer living with a roommate, who pay rent to your child which can go to paying the mortgage.

Third, responsibility... owning as opposed to renting means your students have to learn to take care of the place.

Fourth, the tax benefits of having more mortgage interest deductions (consult your CPA)

Fifth, there's a better market to resell an affordable house/condo than a run down duplex near campus.  Believe it or not!

For more information, visit the full article at -o-> Florida Affordable Housing | College Students’ perfect place to live

More Florida Mortgage and Real Estate News You Can Use From
David A. Podgursky, MBA
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida