Anthony S. Park

Most homebuyers don’t shop for mortgages until they’ve started going to open houses. Heck, some wait until they’re ready to make an offer on a home.   Wrong   Let’s talk about the reasons you should start mortgage shopping NOW, if you plan on homebuying in a few weeks (or even months). ========== “How Probate Works” on Amazon https://amzn.to/2Eld2DF   “How to Buy Your Perfect First Home” on Amazon...

Everyone else is talking about the political, social, and educational impacts. We’ll talk real estate. Let’s talk about 5 ways the proposed changes to the Stuy test may impact homebuying. ========== “How Probate Works” on Amazon https://amzn.to/2Eld2DF   “How to Buy Your Perfect First Home” on Amazon https://amzn.to/2EjdDH9   All books by #AnthonySPark at https://www.amazon.com/-/e/B07KY2JDGR   Su...

Almost 2/3rds (63%) of millennial homeowners regret their first home purchase ! Let’s talk about the 12 mistakes first-time homebuyers regret the most, and how to avoid them.   ========== “How Probate Works” on Amazon https://amzn.to/2Eld2DF   “How to Buy Your Perfect First Home” on Amazon https://amzn.to/2EjdDH9   All my books at https://www.amazon.com/-/e/B07KY2JDGR   Subscribe to our YouTube ch...

Doesn’t it feel like everyone is telling you it’s “so easy” to make money with probate real estate? So let me share the real deal, from the perspective of a professional executor and probate attorney. That means I’m the guy actually selling the probate real estate.   “How Probate Works” on Amazon https://amzn.to/2Eld2DF   “How to Buy Your Perfect First Home” on Amazon https://amzn.to/2EjdDH9   All...

Recent tax reform made many changes, mostly in the form of capping or limiting deductions.  BUT, the trade-off is the standard deduction nearly doubled (ex. $6,350 to $12,000 for individuals) Personal Exemptions Unlimited SALT Deductions Interest on Mortgages Above $750,000 Moving Expenses Professional fees

They say you can always re-finance your mortgage, but your purchase price is forever. So you want to get it right. Why are They Selling? Know the Listing’s History Know the market Keep Your Cards Close Don’t Just Negotiate the Purchase Price   My book “How to Buy Your Perfect First Home” available on Amazon

Summary Assume it’s income Don’t miss any 1099s Don’t ignore the IRS Keep your records Amend with caution File on time (even if you can’t pay) They don’t like big refunds

Summary Robin’s background Blended family Robin planned well, because he knew the cost of legal battles In 2011, signed a prenuptial agreement with Susan In 2012, updated his estate plan and trust to be consistent with the pre-nup What Robin did right: After Robin’s death, Susan sued Because Robin had up-to-date prenup and trust, settled pretty quickly What happened?   Also watch the Robin William...

Dad died, Step-mom isn’t sharing any information. What do you do?   We see this situation often. So today let’s talk about: Can you MAKE step-mom talk to you? What you should do before spending any money on a lawyer How to decide if it’s worth lawyering up   ==========   “How Probate Works” on Amazon https://amzn.to/2Eld2DF   “How to Buy Your Perfect First Home” on Amazon https://amzn.to/2EjdDH9

Summary Deduction for home mortgage interest Mortgage must be less than $750,000 Includes HELOCs Must itemize, not standard deduction All SALT capped up to $10,000 Deduction for property taxes “Points” are the fee you paid to get a lower interest rate Deduction amortized over life of mortgage Deduct “points” PMI = private mortgage insurance Usually required when your downpayment is less than 20% D...

Summary Issues unique to podcasting in New York It’s noisier Less space Tighter budgets “Good enough” approach Microphone Condenser mics too sensitive Get a dynamic mic instead Recording apps Solo: native Apple apps, QuickTime or Voice Memo Interview: Skype + Ecamm Call Recorder Post-production Plenty of inexpensive freelancers Or use AI-based software Hosting and publishing Just use Libsyn, even...

Summary Trust is Key Take Age Into Consideration Put One Person in Charge of the Will Learn the Residency Rules Where You Live Know When a Trust Makes Sense   Read the post at https://www.fatherly.com/love-money/choose-right-executor-will-estate/ My book “How Probate Works” available on Amazon

Summary 40% of millennials feel homeownership is completely out of the question for them 42% of millennials say they want to buy a home but just can’t afford it 29% of millennials feel they will never be able to afford a down payment 27% say the only way they will ever own a home is through inheritance Why so pessimistic? 47% believe that buying a home now is a lot more difficult than it was 30 ye...

Summary You’re assuming significant personal risk It’s a major drain on your time The heirs can make your life miserable The pay is really bad   Read the post at https://anthonyspark.com/4-unexpected-hazards-of-being-an-executor   My book “How Probate Works” available on Amazon

Summary You’re buying in a seller's market You want to remodel your new home (or your old one) You have kids You’re downsizing You’ve found a great deal, or your dream home You can deal with moving only once TIP: Can't carry two mortgages? Consider a bridge loan TIP: Add a home-selling contingency to your contract Read the post at https://www.realtor.com/advice/sell/times-to-buy-a-new-home-before-...

A Q&A podcast with Maureen Pritchard, estate planning attorney . Here are the listener questions Maureen answers: "[Do I just] assign/designate guardians with separated responsibilities plus a will?" "Is it better to have a trust where the insurance money gets deposited and designate the smarty cousin as trustee?" "I assume i have to designate the trust as the beneficiary of the life insurance?" "...

Summary Change the locks Check your outdoor lights Test the smoke detectors Find the water main shut-off valve Get familiar with your circuit breaker box Find the gas shut-off valve Get contact info for your utility providers Get the essential homeowner’s tools Clean out the dryer hose Change your air filters Collect your closing documents Update your budget   Read the post at https://anthonyspark...

When the Executor Fails to Preserve the Value of the Estate When the Executor Appears Biased When a Beneficiary Steals Estate Items When Siblings at Odds Inherit a Piece of Property Together When Co-Executors Disagree on How the Estate Should Be Administered   We talk about Cynthia Meason's ( LinkedIn ) post from  https://www.gobankingrates.com/making-money/wealth/settle-inheritance-disputes/ My b...

Former pension and retirement plans Life insurance policies Federal tax returns State departments of taxation Bank accounts Unpaid back wages Savings bonds Bonus tip 1: Do not pay somebody to find money for you Bonus tip 2: Arrive with the appropriate documentation and proof of your identity   Read Geoff Williams' ( @geoffw or LinkedIn ) post at https://money.usnews.com/money/personal-finance/savi...

Waiting too long to prep your home for selling Skipping the backup plan Buying too big Working with too little cushion Failing to compromise Using two different real estate agents Closing on a Friday or late in the afternoon We talk about Jamie Wiebe's ( @jamie__wiebe or LinkedIn ) post from  https://www.realtor.com/advice/buy/buying-and-selling-a-home-simultaneously-8-mistakes/   My book “How to...

Choose a “trusted user” Don’t rely on their Terms of Service Name a Digital Fiduciary in your will Make a list of your digital assets Talk to an attorney Read the post at https://anthonyspark.com/how-to-create-an-estate-plan-for-your-digital-assets

Familiarize yourself with the inheritance process Know what you’re inheriting Make a written plan for the money Invest wisely   Read the post at https://anthonyspark.com/inheriting-money-do-these-5-things-first Get my book “How to Buy Your Perfect First Home” available on Amazon

They Focused On Investing, Not Living They'd Rather Have Experiences Over Mortgages They Didn't Know How The Process Works They Bought Out Of FOMO They Didn't Run The Numbers Before They Bought They Were Looking For Instant Results They Underestimated The Work Involved They Didn't Do Their Homework They Felt Tied Down To One Location After Buying The Home Didn't Fit Their Lifestyle They Didn't Hav...

You're not flexible on the timeline You don't have your paperwork squared away You're asking for too many contingencies and concessions You're requesting too many things be included with the home You haven't expressed your love—for the house You gave up after your offer was initially refused   https://www.realtor.com/advice/buy/reasons-why-your-higher-offer-wont-win-the-house/   Original post by W...

Millennials Have More Pets Millennials Have More Digital Assets Millennials Expect, but Won’t Receive, An Inheritance Millennials Aren’t Getting Married   Read the post at  https://anthonyspark.com/4-reasons-millen…han-baby-boomers/   Get my book “How to Buy Your Perfect First Home,” available on Amazon