Cheryl Bourland's blog

Dealing with a Smoker's Home

Picture this: you've been searching for your dream home and think you might have finally found the one. You head over to check it out, marveling along the way at the convenience of the location, the exterior's curb appeal, and the great price, only to step inside and realize that the interior is saturated with the smell of cigarettes. Although smoking isn't nearly as prevalent as it was in years past, this is still a common situation encountered by prospective home buyers. The CDC reports that the proportion of U.S. adults who smoke dropped from 20.9% in 2005 to 15.5% in 2016, but this still means that around 38 million potential home sellers are active smokers. In this post, you can read about some of the methods that smokers and nonsmokers alike might want to employ in an attempt to rid their home of the distinctive smell. Plus, those who still smoke indoors might be interested in learning just how much it reduces the resale value of their home.

Is Another Housing Crash Looming? Expert Says No

Although the housing market bubble burst over a decade ago, it is still fresh in the minds of many Americans. Given current high price growth and slowing sales, anyone with a stake in housing can't help but worry if another correction is on the horizon. Luckily, in a new article written by National Association of Realtors chief economist Lawrence Yun, he argues that the underlying market conditions in 2018 are fundamentally different than those that existed prior to the last crash. Keep reading to learn why he believes that "the likelihood of a nationwide home price collapse is near nil for the foreseeable future."

Buying a Home? Factor in These Forgotten Costs

All serious home buyers should already know about closing costs, the cash needed to finalize a home purchase. Usually totaling between 2% and 5% of the purchase price, this money covers a variety of expenses, including the title, lender, and appraisal fees, that are required to sell a home. As part of your financial preparation for buying a home, you probably budgeted for these official closing costs; however, there are several additional expenditures which are commonly overlooked by otherwise well-prepared home buyers. Keep reading to learn about these forgotten costs so that they don't end up busting your budget!