Ridgewood Real Estate Blog : Fall is here, focus on the Fs

Fall is here, focus on the Fs

September is here, the yellow school buses are on the road and the recreational football season is under way. As the leaves begin to change color it is a good time to think about Real Estate. Here are some areas and some questions to get the process started. The F's that we will be talking about this month are Finances and Fitness.

  

Finances

Do you have a budget?

Most folks don't have one written out. Everyone has expenses and bills. The idea of a budget is to have you put on paper all of your income and expenses. This way you can spend your money on paper and on purpose. Unfortunately, most folks don't do either. Remember, ignoring something will not make it go away. When you have a budget, you can spend your money on what you feel is most important. When you don't have a budget, you may find yourself spending money on things that you can't even remember.

 

First, make a budget. There are plenty of free websites that will help you. www.DaveRamsey.com has some great free tools.

 

Second, stick to it. In this economy, everyone has had to tighten their belts. Numbers don't lie, you may be surprised at what you don't need to spend your money on.

 

Whatever your financial situation, don't be disheartened. Sometimes putting all this information on paper seems overwhelming. If you are spending more than you are bringing in something needs to change. Spending that is out of control can lead to financial ruin.

 

In our practice we meet many families that have had their financial situation change on them. Perhaps they bought a home a couple of years ago (at the peak of the Real Estate Market). Both spouses were working and they had their budget under control. Through no fault of their own, one of the spouses got laid off and now is unable to secure work. Losing 50% of your income can cause a budget to be turned on its head. For a few months they get by on savings, then by borrowing from credit cards, eventually they can't find anyone else to borrow from, so they begin to miss their mortgage payment. At this point people are typically going through a multitude of emotions... denial, fear, anger and shame (to name a few). Don't go through this alone. Get in touch with professionals who can help you.

 

When the above situation goes on long enough, it becomes harder and harder to dig out from the hole that you are in. Selling your home may be an option. You will need to do whatever it takes to right your financial ship. There are many concerns that people have in this current market.

  1. We owe more than our home is worth, we can't sell.
  2. We have no money to pay a Realtor.
  3. The market is terrible and it is impossible to sell. (We have a friend who has had their place                                 on the market for over a year and can't sell).

 

All of the above concerns are not necessarily true. We have helped many homeowners who have been in this situation successfully sell their home.

  

  

Fitness

How do you feel about how you look? Could you stand to lose a few pounds? Making time to eat right and exercise is as important as anything else that you will do. Eating right and exercising will also give you more energy. Everyone could use a little more of that. Set some attainable goals to get moving in the right direction. If you aren't doing anything now, start with eating three meals a day and going for a short walk each day. Something is better than doing nothing. Remember, exercise is also a great way to relieve stress!

Get Educated.  Get Empowered.

For more information on this or any other topic, call Sal Poliandro, Broker Associate, Realtor, Marketing Advisor,

Short Sale Specialist and CDPE, Certified Distressed Property Expert

ePRO, SRES at 201-957-7650, visit our website: www.BCHomeTeam.com 

Follow me on Twitter: @salanddawn

Sal can be reached by snail mail at RE/MAX Properties 82 East Allendale Road  Suite 4B Saddle River, NJ 07458

Comment balloon 5 commentsSal Poliandro - Bergen County Realtor • September 01 2010 11:27PM

Comments

Both those Fs you mentioned require discipline to be successful. I MADE myself go for a jog tonight. I was feeling so sluggish. It's amazing how what we don't want to do...is SO VERY GOOD FOR US!! :)

Posted by Sonja Patterson, Texas Monthly 5-Star Realtor Recipient for the Hou (Executive Real Estate Services) almost 7 years ago

Hi Sonja,

     Maybe next month we can watch out for the D's. Thanks for stopping by.

Posted by Sal Poliandro - Bergen County Realtor, Short Sale Specialist - CDPE, SRES, SFR, IRES (RE/MAX Properties) almost 7 years ago

Hey good buddy...you are right on track!  When we pulled the plug on television over 1-1/2 years ago (did I really say that?), we pulled the plug on everything else that was draining our wallets.  You should see the result in our lightened electric bill.

And we basically stopped spending money on unnecessary items...it's just a lot of "stuff" you need a bigger house for!  It is amazing when there are no credit card balances with carrying charges!

Financially fit is fun!  We are in the "F's", aren't we?

Posted by Gail Gladstone, Brokering Success (Gladstone Group & Long Island Business Brokerage) almost 7 years ago

Hi Gail,

    Thanks for stopping by. Wish I could convince the kids to get rid of tv.

Posted by Sal Poliandro - Bergen County Realtor, Short Sale Specialist - CDPE, SRES, SFR, IRES (RE/MAX Properties) almost 7 years ago

Mike and I are really working on the FITNESS.  We have been going to the gym 3 times a week and eating healthier.  I have always eaten pretty healthy - him not so much!

Posted by Renée Burrows, Las Vegas Real Estate Broker - www.urLVhome.com (Savvy Home Strategies Realty, LLC-REALTOR®-Estate-Probate) almost 7 years ago

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