Sheri Goldman

Buying a House

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Buying a House | 25 Posts
Green Living | 1 Posts
Homeowner Tips | 1 Posts
Kent WA | 3 Posts
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Selling a House | 12 Posts

Home Buying PMI

What is Private Mortgage Insurance (PMI)?

There are a whole bunch of new terms you'll hear when you decide to start shopping for your first home. One you may have heard of is Private Mortgage Insurance (PMI). Here's what you need to know about PMI and how it can help you buy a home.

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Buy Your First Home
Buying your own home is a wonderful goal to have. Renting is okay for some people but you might be starting to think it's not for you. For many people, the benefits of owning a home often outweigh any benefits to renting. Our Team works with many first-time buyers regularly. Here are two benefits of homeownership that can change your life for the better.

Lifestyle Benefits

As a homeowner, you have more control over your life than that of a renter.

  • As a renter, one of the worst situations to deal with is nuisance neighbors. Noise, illegal activities, and lifestyle differences are just a few examples of what you might face--repeatedly. You can't control what your neighbors do or who your landlord rents to, but you can control where you live.
  • Another tough situation for renters is repairs and maintenance your landlord is slow to perform or ignores your requests entirely. As a homeowner, you have control over your surroundings. You can DIY repairs or hire a professional, but you'll make sure they're done. You can paint or decorate as you wish.
  • Many people choose to buy a home because their current apartment no longer fits their needs. Their family size or lifestyle changes and that means they need more or less room or different living arrangements. But what if a single-family home doesn't fit your lifestyle? You can still have the benefits of homeownership by buying a condo or apartment. Many young single people can take advantage this if you love the city you're in and plan on staying for the long-term.

It's true that buying a house comes with larger upfront expenses. There are other expenses you don't have as a renter. But for most people at some point, it makes more financial sense to buy a house. The biggest financial benefit is NOT putting money into your landlord's pocket. Technically, your home is an investment. You might not want to approach your home choice the same way you would manage your retirement account, but the money you pay in a mortgage is building equity in your home and financial security for you. And those are your benefits, not the landlords.

In many neighborhoods, rent payments are equal to or more than house payments. Over a long period of time, the cost of living will go up, and rent will go up as well. Eventually, it just might not be possible for you to pay out any more of your budget in rent. The most common mortgages are 15-year and 30-year terms. That means you have a consistent housing expense for years to come, freeing up your money for other uses. And when the mortgage is paid off, you'll own an asset. After years of paying rent, you won't own anything and your landlord has made a lot of money in the process. As long as you plan to stay in the area, you can buy a home and build some financial security.

If you're ready to escape the rental trap and purchase a home, contact The Sheri Goldman Group. We can help find the South King County home you've been waiting for. 

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There's an art to buying homes, and while there are certainly exceptions to every "rule," you can increase the probability that your offer will be accepted if you do your homework.  

Our team works hard to provide clients with as much information as possible once they've found their dream home to help them make strong purchase offers.  

While factors like length of time on the market and price decreases are certainly important data points to know when writing a purchase offer, it's always a good idea to work with the seller's agent to determine the homeowner's reason for selling.  Here are some of the things we help you determine to make the right offer for you: 

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Newlywed Home Buying Advice
The big day has come and gone! The vows are exchanged and the cake is cut. Now, it's time to move forward to one of the most exciting parts of married life: Your first home together. 

About 35 percent of married Americans buy a home together within two years of tying the knot.

That said, the process can take anywhere from a few weeks to months. Knowing what you're getting into early on will help smooth the process and make it go faster. Every bit of effort you put into it can make things easier.

After all, your home is one of the first – and among the biggest – things you need to agree on.

With that in mind, let's look at five of the most valuable tips for newlyweds buying a home:

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Last Minute Credit Checks
You have followed every rule; you saved hard, kept impeccable credit before your home purchase, and listened to your professional real estate agent. Your sellers accepted your offer, and you have a closing date. You and your partner decide to splurge. To the appliance store! In one buying spree, you buy a washer, dryer, refrigerator, oven, microwave, dishwasher and freezer. You know your credit card can handle it. But can your credit report handle it? On the day of closing, you discover to your horror that your lender pulls a day-of-closing credit report, and now your loan is at risk.

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FHA Loans - What Home Buyers Should Know
We hear a lot of chatter in the news these days about the pros and cons of our government; however, for prospective home buyers, Uncle Sam can be a mighty good friend. The Federal Housing Administration (FHA) is one of our country's most enduring gifts to its citizens. FHA mortgage insurance backstops your FHA loan with the full faith and credit of our country. Without using taxpayer money, FHA insures mortgages on single-family, multi-family, and manufactured homes.

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Home Buyer Mistakes to Avoid
Welcome to homeownership! Whether you just bought your first house or you're still looking at homes for sale in South King County, you're about to begin a very important year. Your first twelve months as a homeowner will set the stage for your financial future, whether you make smart choices that pay off or impulsive choices that hurt your budget. We want to make sure you avoid the most common missteps.

Many new homeowners make purchases and changes they later regret, but you don't have to learn these lessons the hard way. Instead, our team can help you form your own game plan! Start by avoiding these five mistakes during your first year:

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Use These Tips to Pay Off Your Mortgage Early Without Destroying Your Budget 

Hacks to Pay Your Mortgage Off Early

Your home mortgage is probably the largest debt you will ever take on, so it's no surprise that many homeowners are motivated to pay off their mortgage as quickly as possible. Depending on your financial situation, it may be possible to shave months, years, or even decades off your mortgage.

If you're interested in getting out from under your mortgage as soon as possible, our team at is here to help. Here's how you can pay off your home loan early without destroying your budget:

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Buy a Home at the HolidaysAre you planning to buy a new house after the holidays? If you're looking for real estate, you might not want to wait. In fact, next time you hear "happy holidays", think "happy house-hunting" too. This time of year is actually a great time to buy a house, in part because most buyers shy away from it. Here are some of our team's favorite reasons to buy a house during the holiday season:

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5 Etiquette Tips for Buyers Attending an Open House Open House Guide

Attending an open house is an excellent way to see what neighborhood homes are available in a low-pressure way. By touring a number of open houses you can whittle down your home search before scheduling an official showing with a REALTOR®.

If you are new to home buying, take some time to get to know these basic open house etiquette tips from our team at

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