Real Estate Today opens doors for buyers and sellers with critical and credible information on the real estate market. It’s fast paced and fact packed with experts, interviews, call-ins, field reports, and timely market conditions.
Lawrence Yun is the Chief Economist of THE NATIONAL ASSOCIATION OF REALTORS®.
Elizabeth Mendenhall is a REALTOR® and Broker Owner of RE/MAX Boone Realty, in Columbia, Missouri. Elizabeth is a real estate pro, with more than 20 years in the business. She has held dozens of leadership positions at the local, state and national level. And currently, Elizabeth is NAR’s 2016 First Vice President.
The Millennials are the biggest demographic group in the country – and when they start buying real estate in droves – it will affect every home buyer, home seller and homeowner in America.
Laura Adams is the Senior Analyst for insuranceQuotes.com , and a national expert on insurance issues. Laura is also the host of the top-rated Money Girl Podcast and author of multiple books, including Money Girl’s Smart Moves to Grow Rich. She is an award-winning author, podcaster, and national media source.
Keith Gumbinger is Vice President of Consumer Information at HSH.com. The nation’s premiere online source for home loan information.
We thought we’d leave you with a few thoughts about buying a second home – even if you can’t afford it. How do you do that?
Well, the same way millions of people do it – they go in, with family. Or friends. They pool their resources. Their savings, their incomes, their DIY skills. And before you know it, you have one nice vacation home – with a whole lot of names on the deed.
So let’s look at how that works.
First, the purchase itself. And next – owning it, long-term.
OK. Say you and some friends agree to buy a vacation home together. You’d basically do it the same way you’d buy any place – you’ll need cash for a down payment and closing costs, and you’ll need a mortgage…unless you want to just buy it outright.
Continue reading “Buying with Friends” »
Pat Pipkin is a REALTOR® with Sotheby’s International Realty, in Santa Fe, New Mexico. Pat is the 2016 Chair of NAR’s Resort and Second Home Real Estate Committee. Pat also served as NAR’s 2013 RVP for the Southwestern States, and was the 2013 REALTOR® of the Year, and 2008 President of the REALTOR® Association of New Mexico.
Evan Liddiard is the Director of Tax Policy at THE NATIONAL ASSOCIATION OF REALTORS®.
We’re going to examine a big question that every owner of a second home faces – how do you know it’s OK? Does it have power? Are the phone lines down? Have the pipes frozen? Every one of those could represent a dangerous, and possibly really expensive problem. But when you’re hundreds of miles away, how do you know?
Danielle Hale is Managing Director of Housing Research for THE NATIONAL ASSOCIATION OF REALTORS®.
Mike McGrath is the host of the ‘You Bet Your Garden,’ show, which is broadcast on radio stations all over America, and is streamed online as well.
So what do you think? Is a second home something you’re thinking about? A vacation getaway, or perhaps a place you rent out?
Well, as we discussed before, one way to get into a second home with lower up-front costs – is to buy one with friends or family. We talked about buying it in our last hour – and right now, let’s talk about making it work – in the long run.
Continue reading “Buying with Friends” »
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