Episode 21 - Dollars and Sense: Financial Planning for Homebuying

Be Real: The Maryland Real Estate Podcast

Episode 21 (Dollars and Sense: Financial Planning for Homebuying): In The Rundown, Michael and Brad highlight the latest mortgage news and real estate market stats. Michael makes his next prediction for where interest rates are headed. Brad reviews the March year-over-year plus the last 7 days of real estate market activity and how the market is trending. In The Scoop, we're joined by a special guest and financial planner - Jason Piebes of Edward Jones. We discuss common sense financial planning to get ready for homebuying and for setting yourself up for financial success. In this week's The Unreal, we talk about a recent CoreLogic study that the average US homeowner lost approximately $5400 in equity from Q1 2022 to Q1 2023 (and what that means). In The Spotlight we feature Pairings Bistro in Bel Air! Their premise is combining great food with the right wine for an incredible experience. They're on Instagram at @pairingsbistro, or call them at [phone], or find them on the web at www.pairingsbistro.com. Check them out! Episode Highlights

• Brad talks too fast
• National Beef Jerky Day
• Ideas for inflicting Dad Jokes on your family
• Say yes to everything and tell your people you love them
• How 'bout dem O's!
• What president is credited with creating the 7th inning stretch?
• [00:08:06] THE RUNDOWN (Mortgages)
• [00:12:50] THE RUNDOWN (Real Estate)
• [00:20:00] THE SCOOP (Dollars and Sense: Financial Planning for Homebuying)
• [00:21:47] It's hard to impulse buy a home
• [00:22:03] How much of your income should you use toward your home?
• [00:25:55] How should you set up a budget? Think cash flow.
• [00:29:07] Cash or credit?
• [00:31:54] Strategies for saving money
• [00:34:25] Reducing your tax liability
• [00:35:30] First-Time Homebuyer Savings Accounts
• [00:40:05] Can you buy a home with college debt?
• [00:42:13] The impact of SECURE ACT 2.0
• [00:45:33] Can current homeowners buy a new home without a home sale contingency?
• [00:50:22] Including real estate in your investment strategy
• [00:54:55] How to balance saving for your future vs saving for your home purchase
• [01:01:40] THE UNREAL
• CoreLogic's report - homeowner equity down year over year (and what it means)
• [01:08:00] THE SPOTLIGHT
• Pairings Bistro in Bel Air!
• [01:10:50] Final thoughts
• Next episode - Behind the Curtain: The Role of Title Companies in Homebuying

Hosts

Michael Becker, Sierra Pacific MortgageNMLS #200085 [e-mail] [phone] (m) / [phone] (office) https://lo.sierrapacificmortgage.com/michael-becker

Brad Cox, The Vesta Group of Long & Foster Real EstateMD Lic #652795 [e-mail] [phone] (m) / [phone] (office) https://www.bradcox.realtor/

Our Guest

Jason Piebes, Edward Jones [phone] (office) https://www.edwardjones.com/us-en/financial-advisor/jason-piebes

Links

Michael Becker, Sierra Pacific Mortgage Brad Cox, The Vesta Group of Long & Foster Real Estate @berealmdpod