The pressure of the pandemic both in and out of the workforce is having a significant impact on women and their financial futures. According to a recent UBS Global Wealth Management survey, 61% of women feel that Covid-19 has hurt their careers. Key findings: 40% of women have reduced hours at work to help care […]
The post Womenâs Finances Are Taking a Hit. Hereâs How to Combat It. appeared first on The Simple Dollar.
Matthew Perry of âFriendsâ found a buyer who was there for him. He has successfully sold his Malibu, CA, beach house for $13.1 million.
Perry had initially listed his “kick-ass Malibu home”âas he called his place on social mediaâin August for $14.95 million. In September, the actor dropped the asking price by a million dollars, to $13.95 million.
Matthew Perry’s Malibu beach house (realtor.com)
Loft-like space (realtor.com)
Dining area (realtor.com)
Home theater (realtor.com)
Floating staircase (realtor.com)
Master suite (realtor.com)
Master bath (realtor.com)
Steps to the beach (realtor.com)
He then slashed the price one last time to $12.95 million. That reduction attracted a buyer, who scooped up the swanky space for just a little over the ask.
Although the price ended up lower than his initial asking price, Perry came out ahead. The savvy star picked up the the property in 2011 for $12 million.
Perry reportedly bought the beachfront abode from the Southern California developer Scott Gillen, who completely transformed the circa-1960 build.
The result is a loftlike space with expansive walls of glass, looking out to the Pacific Ocean.
The fab pad can hold lots of friends, with two floors, four bedrooms, and 3.5 bathrooms on 5,000 square feet. The main level features an open living and dining area, a fireplace, beamed ceilings, and sparkling views of the ocean. The glass walls completely open up, extending the living area out to a deck that runs the length of the house on both floors.
A floating wood-and-steel staircase leads to the lower-level master suite, which includes a sitting area, walk-in closet, and luxurious bathroom.
Watch: Comedian Kathy Griffin Gets a Deal While Downsizing in SoCal
The home also features an outdoor spa and a state-of-the-art home theater.
Meanwhile, the deck comes with plenty of seating and a fire pit, perfect for catching the sunset.
The open floor plan made the buyer swoon, according to Luis Robledo, the Douglas Elliman agent who represented the buyer.
âThe minute you walk through the front door, you have a completely open and expansive view of the ocean, with floor-to-ceiling and wall-to-wall windows,” Robledo says. “Two decks on both levels spanning the length of the homeâmaximizing the outdoor spaceâalso made it extremely compelling. This is the perfect getaway place.â
Perry took full advantage of the beach pad as his personal getaway during the pandemic. He posted photos to his Instagram account from the property as he hung out on his deck or baked cookies in the kitchen.
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Perry had been on a selling spree, also placing a posh penthouse on the market in Los Angeles in 2019 for $35 million. In 2017, he bought the âmansion in the sky,â which occupies the entire 40th floor of the Wilshire Corridor’s elite Century Building, for $20 million.
He renovated the place to his taste, with what looks like wall-to-wall velvet furniture, a huge master suite with views, and the home theater. The listing is currently off market.
Now that he’s freed from his real estate concerns, the star’s new focus appears to be an adorable puppy.
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A post shared by Matthew Perry (@mattyperry4)
Luis Robledo of Douglas Elliman represented the buyer. Joshua Flagg with Rodeo Realty repped the seller.
The post Matthew Perry Sells Malibu Beach House for $13.1M appeared first on Real Estate News & Insights | realtor.comÂ®.
If you’re a die-hard Supernatural fan like us, you’re probably still reeling from the show’s finale and coping with the fact that there won’t be any new Winchester adventures for us to follow. But weâre not here to talk about that, but rather snoop into the private life of one of the series’ leading men. More specifically, Jensen Acklesâ house — which we actually think Dean Winchester would approve of.
The actor starring in CWâs longest running show and his wife Danneel opened up their 7,500-square-foot home in Austin, Texas to Architectural Digest, giving us a rare glimpse into the heartthrob’s home and personal life.
As the story goes, the couple was relocating from Los Angeles and initially considered buying a house down the road when they noticed this property (that wasnât even for sale). But since they fell in love with it, the couple went ahead and asked the previous owners if they’d be willing to sell. And since it’s not easy resisting Jensen Ackles’ charms, they managed to convince the owners so the Acklesâ moved on to the next step â- redecorating the house.
To help out, they hired architect Paul Lamb and interior designer Fern Santini and together they came up with some brilliant ideas on how to best revamp their already-stunning new house.
âIt was imperative that the house express the Ackleses — young, bold, and irreverent,â Lamb told AD.
Jensen Acklesâ house, which boasts five bedrooms, revolves around Danneelâs decorating outlook of âmore is more is more!â There is a lot of color, texture, a lot of wood work going on to make it look like a lake house and endless decorations with some of the coolest background stories.
Let there be music
In Supernatural, Jensen loves music. Remember his spontaneous Eye of a Tiger outtake? Still fun to watch! Thereâs definitely more of where that came from in real life, since Jensen did his best to create an amazing acoustic sound in his house.
The living room is scattered with guitars and all across the shag rug lie comfy and colored floor pillows. All this because the couple loves having friends over, sitting on the floor, singing and playing the guitar.
Jensen was excited to talk about one of his favorite features of the house: âThe hand-scraped wood floors undulate quite heavily, and weâve got these giant beams and wood all around that feel like youâre in the hull of a giant ship.â âWhat that does is it creates an amazing acoustic sound,â he continues. âWeâve always had music in our lives, and we wanted to pass on that tradition.â
Jensen’s kick-ass bar
Theyâve taken care of the music, and to complete the ambiance they got rid of the formal dining room (that nobody used anyway) and replaced it with a kick-ass bar.
Placed on one end of the large living room, the bar is made out of black walnut with black and white veined marble. The cabinets were specially made to light the expensive bourbons it holds inside.
The master suite
Thereâs a master bedroom swaddled in Trove wallpaper bearing vintage photography of 1920s opera boxes.Â The wallpaper is covered in sections by Japanese-inspired barn door panels âbecause sometimes you need an audience and sometimes you donâtâ.
The master bathroom has a beautiful
bathtub sitting in front of a large window that provides a stunning view to the
The Mr. and Mrs. own two separate counters, because, you know, it just makes things easier in the mornings; and the inspiration for their master bathroom shower came from an Architectural Digest story featuring a steel and glass shower in the home of Neil Patrick Harris.
Jensen Ackles’ bright, wood-framed home
Thanks to exposed beams, larger expanses of windows, and rich wooden ceilings, the architect managed to simplify and open the spaces. They simply tore down walls to let more natural light into the home.
Jensenâs favorite space is the breezy two-story screened porch that transformed the entire profile of the house; and his favorite piece â a custom long table made using a 2,000-year-old cypress log.
Parents of three
Jensen and Danneel have three beautiful children, so they had to choose the decor and furniture according to their needs as well. It appears that the coupleâs eldest daughter would make a great interior designer once she grows up. The six-year-old girl, JJ, helped pick out all her own bedroom decor.
Unsurprisingly, the kidsâ favorite toy is a rolling acrylic table from the â50s, placed in the kitchen. Everybody loves a happy kitchen!
Jensen Ackles’ home is full of hidden gems
The actorâs house is a personalized, eccentric, yet highly livable place. It was designed to resemble the Laurel Canyon bungalow the couple had once lived in and itâs a testament to the old school, Austin-style lake house.
The space is filled with all kinds of eccentric and eclectic objectsâsome useful, some decorative, some both. The decorations could be found in abundance in Austin during its bohemian period (the Acklesâ are active supporters of local art), as well as in late-60s California.
More beautiful celebrity homes
Rob Loweâs Gorgeous House in Montecito is Back on the Market for $42.5 Million Luxurious Malibu Estate Previously Owned by Kelsey Grammer On the Market for $20M âHunger Gamesâ Actor Josh Hutcherson is Selling His Celebrity-Magnet âTree Houseâ in Hollywood Hills Jessica Albaâs Los Angeles House is a Pinterest-Perfect Dream Home
The post Inside Supernatural Star Jensen Ackles’ ‘Very Hip’ Lake House in Austin appeared first on Fancy Pants Homes.
Getting a mortgage, paying your mortgage, refinancing your mortgage: These are all major undertakings, but during a pandemic, all of it becomes more complicated. Sometimes a lot more complicated.
But make no mistake, home buyers are still taking out and paying down mortgages during the current global health crisis. There have, in fact, been some silver linings amid the economic uncertaintyâhello, record-low interest ratesâbut also plenty of changes to keep up with. Mortgage lending looks much different now than at the start of the year.
Whether youâre applying for a new mortgage, struggling to pay your current mortgage, or curious about refinancing, hereâs what mortgage lenders from around the country want you to know.
1. Rates have dropped, but getting a mortgage has gotten more complicated
First, the good news about mortgage interest rates: âRates have been very low in recent weeks, and have come back down to their absolute lowest levels in a long time,â says Yuri Umanski, senior mortgage consultant at Premia Relocation Mortgage in Troy, MI.
That means this could be a great time to take out a mortgage and lock in a low rate. But getting a mortgage is more difficult during a pandemic.
âAcross the industry, underwriting a mortgage has become an even more complex process,â says Steve Kaminski, head of U.S. residential lending at TD Bank. âMany of the third-party partners that lenders rely onâcounty offices, appraisal firms, and title companiesâhave closed or taken steps to mitigate their exposure to COVID-19.â
Even if you can file your mortgage application online, Kaminski says many steps in the process traditionally happen in person, like getting notarization, conducting a home appraisal, and signing closing documents.
As social distancing makes these steps more difficult, you might have to settle for a âdrive-by appraisalâ instead of a thorough, more traditional appraisal inside the home.
âAnd curbside closings with masks and gloves started to pop up all over the country,â Umanski adds.
2. Be ready to prove (many times) that you can pay a mortgage
If youâve lost your job or been furloughed, you might not be able to buy your dream house (or any house) right now.
âWhether you are buying a home or refinancing your current mortgage, you must be employed and on the job,â says Tim Ross, CEO of Ross Mortgage Corp. in Troy, MI. âIf someone has a loan in process and becomes unemployed, their mortgage closing would have to wait until they have returned to work and received their first paycheck.â
Lenders are also taking extra steps to verify each borrowerâs employment status, which means more red tape before you can get a loan.
Normally, lenders run two or three employment verifications before approving a new loan or refinancing, but âI am now seeing employment verification needed seven to 10 timesâsometimes even every three days,â says Tiffany Wolf, regional director and senior loan officer at Cabrillo Mortgage in Palm Springs, CA. âTodayâs borrowers need to be patient and readily available with additional documents during this difficult and uncharted time in history.â
3. Your credit score might not make the cut anymore
Economic uncertainty means lenders are just as nervous as borrowers, and some lenders are raising their requirements for borrowersâ credit scores.
âMany lenders who were previously able to approve FHA loans with credit scores as low as 580 are now requiring at least a 620 score to qualify,â says Randall Yates, founder and CEO of The Lenders Network.
Even if you arenât in the market for a new home today, now is a good time to work on improving your credit score if you plan to buy in the future.
âThese changes are temporary, but I would expect them to stay in place until the entire country is opened back up and the unemployment numbers drop considerably,â Yates says.
4. Forbearance isn’t forgivenessâyou’ll eventually need to pay up
The CARES (Coronavirus Aid, Relief, and Economic Security) Act requires loan servicers to provide forbearance (aka deferment) to homeowners with federally backed mortgages. That means if youâve lost your job and are struggling to make your mortgage payments, you could go months without owing a payment. But forbearance isnât a given, and it isnât always all itâs cracked up to be.
âThe CARES Act is not designed to create a freedom from the obligation, and the forbearance is not forgiveness,â Ross says. âMissed payments will have to be made up.â
Youâll still be on the hook for the payments you missed after your forbearance period ends, so if you can afford to keep paying your mortgage now, you should.
To determine if youâre eligible for forbearance, call your loan servicerâdonât just stop making payments.
If your deferment period is ending and youâre still unable to make payments, you can request delaying payments for additional months, says Mark O’ Donovan, CEO of Chase Home Lending at JPMorgan Chase.
After you resume making your payments, you may be able to defer your missed payments to the end of your mortgage, OâDonovan says. Check with your loan servicer to be sure.
5. Don’t be too fast to refinance
Current homeowners might be eager to refinance and score a lower interest rate. Itâs not a bad idea, but itâs not the best move for everyone.
âHomeowners should consider how long they expect to reside in their home,â Kaminski says. âThey should also account for closing costs such as appraisal and title insurance policy fees, which vary by lender and market.â
If you plan to stay in your house for only the next two years, for example, refinancing might not be worth itâhefty closing costs could offset the savings you would gain from a lower interest rate.
âItâs also important to remember that refinancing is essentially underwriting a brand-new mortgage, so lenders will conduct income verification and may require the similar documentation as the first time around,â Kaminski adds.
6. Now could be a good time to take out a home equity loan
Right now, homeowners can also score low rates on a home equity line of credit, or HELOC, to finance major home improvements like a new roof or addition.
âThis may be a great time to take out a home equity line to consolidate debt,â Umanski says. âThis process will help reduce the total obligations on a monthly basis and allow for the balance to be refinanced into a much lower rate.â
Just be careful not to overimprove your home at a time when the economy and the housing market are both in flux.
The post 6 Things Your Mortgage Lender Wants You To Know About Getting a Home Loan During COVID-19 appeared first on Real Estate News & Insights | realtor.comÂ®.
Along with the excitement of purchasing a new home, comes the additional costs that you will be expected to pay as a homeowner. Apart from covering the mortgage of your home, you’ll have additional expenses – such as home insurance – that you will be expected to cover. If you’re looking to budget for a home purchase, it’s important that you consider these costs as they can add up to thousands of dollars each year.
To help you make educated decisions when budgeting, we’ve compiled a list of the major home ownership costs in one free, downloadable guide. Get the Home Ownership Costs to Consider guide here.
Home insurance policies help protect against serious damage and destruction, like fires, leaks, floods, or break-ins. It also protects a homeowner from personal liability. Some banks may offer home insurance products, although you can typically purchase a home insurance policy through a home insurance agent or broker.
Tip: You may get better rates if you use a broker or agent. It’s also important to keep in mind that policies typically renew on an annual basis.
The cost of maintenance fees should be taken into account when you’re buying a condo. This recurring cost is in addition to your mortgage and impacts how much home you can afford.
Your mandatory monthly fee will vary by your building and square footage. It typically covers:
Utilities (such as water and garbage collection)
Maintenance of common areas (such as the gym, pool, front desk, hallways, landscaping)
Building reserve fund (covers emergencies and long-term maintenance projects such as a new roof or elevators repairs)
What Are Status Certificates?
If you’re looking to purchase a condo, you’ll want to look into obtaining a status certificate so that you have as much information about the building and your unit as possible before buying. A status certificate provides valuable information about the condo corporation and its financial
situation. It includes details on the budget, legal issues, the reserve fund, maintenance fees, and any fee increases expected in the future.
Tip: You’ll want to carefully review your status certificate with your lawyer before making a purchase.
Property taxes are paid annually by homeowners to their municipality. These taxes are ongoing and are separate from your mortgage. Your annual property tax can often be paid in installments.
Tip: It’s important to remember that this cost is not due at closing, but is a recurring cost.
How Are Property Taxes Calculated?
Your property tax rate will vary depending on the value of your property as assessed by your provincial assessment authority. This is then multiplied by a rate that falls between 0.5% to 2.5%.
How Do You Pay Property Taxes?
You can pay your property taxes either through your mortgage provider or directly to your municipality.
Your Utility Bills
When you purchase a home, you’ll have to set up or transfer your utility bills to your new home. If you live in a condo, these costs may be included in your monthly maintenance fee. Your utility bill will include:
Water and Garbage
Internet, Phone, Cable
For the full details on the home buyer’s journey including examples, advice, pictures and sample calculations, download a copy of our free Home Ownership Costs to Consider Guide here.
The post A Guide To Everything You Need To Know About Home Ownership Costs [Free Download] appeared first on Zoocasa Blog.
Looking to buy a home soon? There will be upfront costs of buying a house.
You may have found a house that you like. You may have been approved for a mortgage loan, and have your down payment ready to make an offer. If you think that, at that point, all of the hard work is over, well think again.
In addition to the down payment, which can be significant depending on the price of the property, there are plenty of upfront costs of buying a home. As a first time home buyer, this may come to you as a surprise. So, be ready to have enough cash to cover these costs. In no particular order, here are 8 common upfront costs of buying a house.
If you are interested inÂ comparing the best mortgage rates through LendingTree click here. Itâs completely free.
What is an upfront cost?
An upfront cost, as the name suggests and in terms of buying a house, is out of pocket money that you pay after you have made an offer on a property. They are also referred to as closing costs and cover fees such as inspection fees, taxes, appraisal, mortgage lender fees, etc. As a home buyer, these upfront costs should not come to you as a surprise.
If your down payment is less than 20% of the home purchase price, then your mortgage lender will charge you a PMI (private mortgage insurance). A PMI is an extra fee to your monthly mortgage payment that really protects the lender in case you default on your loan. Again, depending on the size of the loan, a PMI can be significant. So if you know you won’t have 20% or more down payment, be ready pay an extra fee in addition to your monthly mortgage payments.
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Upfront cost #2: inspection costs.
Before you finalize on a house, it’s always a good idea to inspect the house for defects. In fact, in some states, it is mandatory. Lenders will simply not offer you a mortgage loan unless they see an inspection report. Even if it is not mandatory in your state, it’s always a good idea to inspect the home. The inspection cost is well worth any potential defects or damages you might encounter.
Inspection fee can cost you anywhere from $300-$500. And it is usually paid during the inspection. So consider this upfront cost into your budget.
Upfront cost # 3: loan application fees.
Some lenders may charge you a fee for applying for/processing a loan. This fee typically covers things like credit check for your credit score or appraisal.
Upfront cost # 4: repair costs.
Unless the house is perfect from the very first time you occupy it, you will need to do some repair. Depending on the condition of the house, repair or renovating costs can be quite significant. So consider saving up some money to cover some of these costs.
Upfront cost # 5: moving costs.
Depending on how far you’re moving and/or how much stuff you have, you may be up for some moving costs. Moving costs may include utilities connections, cleaning, moving
Upfront cost # 6: Appraisal costs.
Appraisal costs can be anywhere from $300-$500. Again that range depends on the location and price of the house. You usually pay that upfront cost after the inspection or before closing.
Upfront cost # 7: Earnest Money Costs
After you reach a mutual acceptance for the home, in some states, you may be required to pay an earnest money deposit. This upfront costs is usually 1% to 3% of the home purchase price. The amount you pay in earnest money, however, will be subtracted from your closing costs.
Upfront cost # 8: Home Associations Dues
If you’re buying a condo, you may have to pay homeowners association dues. Homeowners association dues cover operation and maintenance fees. And you will pay one month’s dues upfront at closing.
In conclusion, when it comes to buying a house, there are several upfront costs you will need to consider. Above are some of the most common upfront costs of buying a house.
Click here to compare mortgage rates through LendingTree. Itâs completely FREE.
MORE ARTICLES ON BUYING A HOUSE:
10 First Time Home Buyer Mistakes to Avoid
How Much House Can I afford
5 Signs Youâre Better Off Renting
7 Signs Youâre Ready to Buy a House
How to Save for a House
Not All Mortgage Lenders Are Created Equally
When it comes to getting a mortgage, rates and fees vary.Â LendingTree allows you to view and compare multiple mortgage ratesÂ from multiple mortgage lenders all in one place and at the same time, so you can choose the best rates for your needs. LendingTree makes getting a loan faster, simpler, and better.Â Get started today >>>
The post 8 Upfront Costs of Buying a House appeared first on GrowthRapidly.
There are times in life when you just need a little extra cash, and a personal loan can fit the bill. Perhaps, youâve sprung a leak in the home or need to consolidate mounting debt. Your childâs tuition assistance may not have come through yet, or perhaps you need an extra boost to get through […]
The post The Best $20K Loans Options appeared first on The Simple Dollar.
For a good look at how life changes can affect the home you have, check out this timeline of El Moussa’s many homes through the years, and how much his tastes have evolved.
Early 2000s: Tarek El Moussa’s first home
Even El Moussa had to start somewhere! Back when this HGTV star was just 21, he bought his first homeâand spent way more than he expected. He set out to find a house for around $400,000, but ended up falling in love with a home that was listed for over $800,000.
“It was the perfect bachelor padâ1,400 square feet, massive master bedroom, man cave all to myself, and coolest of all, a 300-gallon shark tankâmay I remind you I was 21 at that time?” he wrote for realtor.comÂ®.
Let’s just say that El Moussa’s first home was a huge life lesson for him that you should never bite off more than you can chewâfinancially or otherwise.
“I was very, very broke,” he admitted. “With no money for furniture, I ended up living in an empty house for nearly nine months.”
2013â18: El Moussa’s first family home with Christina Anstead
By 2013, El Moussa was married to Christina Anstead, and they had their daughter, Taylor, so they needed a bigger family house. The couple’s hit TV show, “Flip or Flop,” had completed its first season, so they had the cash to upgrade.
And upgrade they did:Â El Moussa and Anstead’s home in Yorba Linda, CA, was purchased for an even $2 million at the end of 2013.
Watch: Kate Gosselin Vacates Her ‘Kate Plus 8’ Pad
With six bedrooms and 6.5 bathrooms, this property was already impressive, but the couple ended up spending an additional $1.5 million to improve the property, turning the backyard into an oasis, with a gorgeous dining area, swanky pool, and fire features.
Despite all that renovation equity sweat, when the pair split in 2018, they sold the house at a loss, accepting an offer for just $2,995,000âproving that renovations don’t always pay off.
2017: El Moussa’s Bad Decisions houseboat
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A post shared by Tarek El Moussa (@therealtarekelmoussa)
Originally, El Moussa and Anstead bought this yacht together, naming it Flip or Flop. But soon after they separated, El Moussa pointedly renamed it Bad Decisions.
The boat, which cost almost $1 million, has two bedrooms and two bathroomsâmaking it virtually as spacious as some of his flips.
With teak flooring and cedar-lined closets, the boat is stylish, and it has a kitchen and a washer and dryer. It is also convertible and can either be left open to the ocean breezes, or closed up so that the heater or air conditioning can make the ride more comfortable.
âHis boat was parked next to the boat I was on,â Young explained on Netflix’s “Selling Sunset.” âAnd my girlfriend happened to be on his boat.â
She jumped aboard, she recounted, and El Moussa turned around.
âAnd he was, like, âHi, Iâm Tarek,ââ she said. âThen we were just, like, texting and kept in touch.â
2018â20: El Moussa’s postdivorce ‘dadchelor’ pad
After El Moussa and Anstead split, El Moussa moved into a four-bedroom “dadchelor” pad”Â Â in Costa Mesa, CA. A good mix of family-friendly and all-El Moussaâwithout Anstead’s feminine touchesâit was only a couple of blocks from his ex-wife’s place, making shared custody of their kids much simpler.
The home had a pool, spa, and outdoor dining space. The interior was styled in bold colors, making it homey but masculine. With a modern fireplace and high ceilings, the space was perfect for El Moussa.
April 2020: El Moussa and Young’s first rental together
By April this year, El Moussa and Young were ready to move in together. They rented a snazzy Newport Beach home, just a block from the ocean. El Moussa and Young’s home had fun swivel chairs, a dining table perfect for a family of four, and lots of family photos.
This rental was temporary, but these two certainly looked comfortable!
September 2020: El Moussa’s beachside fixer-upper
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A post shared by Tarek El Moussa (@therealtarekelmoussa)
Of course, Young and El Moussa didn’t plan to rent forever, and in September, they bought a home in Newport Beach. Originally, El Moussa bought this house to flip, but after he proposed in July, they decided it would make a great home for both of them.
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A post shared by Heather Rae Young (@heatherraeyoung)
Unfortunately, it looks as if it will be a while before these lovebirds can move in to their new abode.
In November, El Moussa reported that his new house had flooded. “Ugh, when it rains it pours! We are now way behind schedule and way over budget lol,” he said.
It may take some work to get this place ready, but if El Moussa has proved anything, it’s that he can roll with the punches and is always up for a challengeâwith his homes or otherwise.
The post An Eye-Opening Timeline of Tarek El Moussa’s Own Homes, From His First to Where He Lives Today appeared first on Real Estate News & Insights | realtor.comÂ®.