Mortgages, Refinance, and Real Estate. AIER Women's Financial Empowerment, 9/18/12.

In this Session, four presenters gave us a wide range of information to take into account when considering purchasing a home.

Zinnia Mukherjee (researcher and macro-economist from AIER) spoke about the importance of understanding that a home is not a 'liquid asset', and to assess whether locking your finances into this kind of purchase will work for you in the long-term.

Jen Harvey shared (from her 10 years experience as a real estate agent) about the regional market. She told us about the changes in trends over the last ten years, 'sweet-spots' in price range, shared a bunch of county-wide numbers regarding houses sold/days on market/final purchase prices. And she talked about the nuances in the shift from a seller's market to a buyer's market.

Louanne Harvey talked from her 30 years experience as a mortgage broker. She encouraged most new buyers to choose a variable apr., given the lower rates they offer and the high percentage of home buyers who don't stay in a house longer than 5 years. She also encouraged us to check into HARP -- a resource to find out about the various programs available that provide mortgage and refinance assistance for a range of qualifications.

Andrea Harrington shared from a legal perspective, emphasizing several points for a buyer to know, especially the importance of having your home classified as a "Homestead" on your deed, to protect it from certain kinds of debt collection.

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