RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Report: Saving Money…and It Feels So Good

April 26, 2016 12:30 am

More of us are padding our coffers—and boy, do we feel good about it!

A recent report by Bankrate.com shows that Americans’ feelings of financial security have reached a high, thanks to rising net worth, job security and “comfortable” debt levels. Nearly 30 percent of Americans included in the report have a higher net worth now than they did a year ago.

Millennials are saving more money than any other age group: over 5 percent of their incomes, according to the report. Some are even saving more than 10 percent.

Still, all age groups are setting aside more than they did last year, with 1 in 6 working Americans saving 15 percent of their incomes, and just 21 percent saving 5 percent or less of their incomes.

“The good news is that many working Americans, millennials in particular, are saving, and saving more than last year,” says Greg McBridge, chief financial analyst for Bankrate.com. “The bad news is that 21 percent of employed Americans claim not to be saving any of their paycheck—nothing for retirement, nothing for emergencies, and nothing for other financial goals.”

In the report, higher savings rates predictably skewed toward higher incomes—but nearly 30 percent of lower-income savers (earning between $30,000 and $50,000 each year) are socking away more than 10 percent of their incomes, besting the 24 percent of $50,000-$75,000 households doing the same.

Source: Bankrate.com

Published with permission from RISMedia.


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Headed to an Open House? Mind These Tips!

April 26, 2016 12:30 am

In a previous segment, “Sellers: Remember These Tips for a Safe Showing,” we provided sellers guidance for the real estate listing process. In this segment, we're offering critical advice from a few sources to buyers touring potential new homes.

Frugalwoods.com, a blog by a Boston couple who’ve visited over 270 open houses (and counting!) recommends this tip:

• Take a listing sheet containing photos of the house, specs and the asking price—and read through it. Ask the listing agent any clarifying questions and take notes.

StyleAtHome.com suggests these tips:

• Overlook elaborate staging. During open houses, interiors (and exteriors) could be dressed to the nines. Try to inspect the home as it really is.

• Examine the parking situation, and be on the look-out for broken appliances.

The experts for the Consumer Advocates in American Real Estate (CAARE) organization advise the following:

• Work with a buyer’s agent, if possible. He or she will have your best interests in mind when visiting an open house.

Most importantly, avoid visiting an open house without your real estate agent—doing so could be detrimental to your home search. Keep in mind the listing agent will likely focus on visitors who show up with an agent in tow!

Published with permission from RISMedia.


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