Lynn Caldwell
313.884.2293 (Direct)
586.764.1356 (Cell)

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Why you shouldn't pay off your mortgage
Paying off your mortgage early sounds like a great idea. But could it be a mistake? Financial experts argue that with low interest rates, paying off a mortgage early for most people is not the best strategy.

Greg McBride at Bankrate.com told online financial resource TheStreet that when you factor in both inflation and tax deductibility, "you're basically borrowing money for free." He suggests that if you are going to pay off your mortgage early, make sure it's the last thing that you do.

Experts explain that you should pay off all high-interest credit cards, build up six months of living expenses for emergency savings, contribute to your kids' college funds, and max out your own retirement contributions before you prepay your home mortgage.

"The longer you save for retirement," McBride says, "the better off you'll be."
Why for sale by owner will cost you more
If you have been watching summer home sales sizzle, and you're thinking about selling your own home this fall, you might be tempted to do a For Sale By Owner. Most people think they will save money, since they won't have to pay a real estate commission. That assumption is false for two reasons.

First, you're unlikely to save money because your home is unlikely to sell for its potential maximum price. The National Association of Realtors found that a typical FSBO-sold home sells for $210,000, but a typical agent-sold home sells for $249,000 ($39,000 more).

Second, while you won't have to pay an agent to list your home, if you want to find the most buyers, you'll have to pay a commission to the agent representing the buyer, unless you also find a buyer that does not have an agent. Today, that's rare; our FSBO sales make up less than 10% of all home sales.
New Pricing
731 N Oxford Road, Grosse Pointe Woods, MI 48236
$434,900
4 Bedrooms  |  2.1 Bathrooms  |  2,691 Square Feet
Listing ID: 217083180

Grosse Pointe Woods Center Front Colonial w/ a Contemporary Flair in Prime Location. This original Owner home has been updated and is clean and ready to move in. Features Include New Kitchen with Granite, Stainless Appliances and Polished Natural Slate Floors, Breakfast Bar and Eating Area, Master with New Full Bath, Formal Dining Rm, Fireplace in Living Rm, 1st Floor Powder, Heated Four Season Room off Kitchen, New Windows Throughout, Hardwood Floors Throughout, Newer Furnace and Roof, Tastefully Freshly Painted including Basement and Garage, Second Floor 20x19 Family Rm, Fireplace in Waterproofed Basement, 80x120 Lot, Attached Garage, C of O Completed. Walking Distance to Schools and Lake St. Clair.

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A great life hack that will save your kids time this fall
Life gets a little hectic when kids go back to school. One of the biggest challenges high school students face is learning their new class schedule. It takes time for them to get it all down, especially in the first few days.

If you know students who bring their smartphones to school, share this hack with them: Take a picture of their class schedule with the times and classroom numbers and save it as a main image on their lock screens. That way, they'll have their new class schedule handy at all times!
Lynn Caldwell

Sine & Monaghan, REALTORS® Real Living
18412 Mack Avenue
Grosse Pointe, MI 48236
©2017 Real Living Real Estate, LLC. An independently owned and operated firm. Real Living is a registered service mark. Equal Opportunity Housing Provider.
©2017 Real Living Real Estate, LLC. Independently owned and operated.