related linksRead more about buying a house
FIND YOUR DREAM HOME OR APARTMENT
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Dude! In the wake of the housing crisis, and big time agencies screwing everyone over, it’s about time that people educate themselves on buying and selling a home. There’s no way we should expect these “big wig agencies” and lobbyist groups to do the right thing. I’m all for books like Simple and Sold and sites like Zillow and Trulia. Not only could you probably prevent getting screwed, but you’ll pocket tons more money.
Here’s something I learned: Let’s say your house is worth $400,000 and your equity is $60,000. Let’s say you hire a real estate agent who charges the customary 6 percent commission. Even if your home sells for its full value, you’ll end up paying the agent $24,000. There goes 40 percent of your equity. There goes a significant chunk of real, hard cash that cannot be recouped.
- 24,000 real estate commission at 6 percent
= 40 percent of your equity gone!
Your home equity is like your 401(k): these things are financial Holy Grails. Unless it’s a matter of life or death or putting food on the table, don’t touch either.
The fact that it's in Oakland don't seem impressive either.
Detroit in demand???
This article just lost any and all credibility with that laughable statement.
Gawd -- I hate slide shows more every day. Listicle indeed. I gotta remember that and quit taking click-bait.