Janderson_Week9_Xeco_Final Project

Janderson_Week9_Xeco_Final Project - 7/15/11 Mortgage...

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7/15/11 Click to edit Master subtitle style A New House Decision Final Project By: Jessie Anderson
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7/15/11 Index Introduction How much can I afford Market View Risks Benefits Economy Process
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7/15/11 Introduction 1. Figure out how much you can afford 2. Know your rights 3. Shop for a loan 4. Learn about home buying programs 5. Shop for a home 6. Make an offer 7. Get a home inspection 8. Shop for homeowners insurance 9. Sign papers
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7/15/11 How much can I afford. Cost Budget Of houses Money
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7/15/11 Market view. Economic activity Recession
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7/15/11 Risks U.S. Department Federal Reserve Research National Polices
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7/15/11 Benefits Interest rates Doing Research House price drops No lost money
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7/15/11 Economy Marginal costs Consumers Marginal benefits Better
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7/15/11 Process Median Household Income. This is the middle level of income. To obtain this number, line up all household incomes in declining order and move down to 50 percent Median New-home price. Use the same techniques you used for determining
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Unformatted text preview: 7/15/11 Mortgage Mortgage Chart It takes a long Mortgage 1 Mortgage 2 Mortgage 3 Mortgage 4 Home price $125,000 $125,000 $125,000 $125,000 Percentag e down 20% 5% 20% 20% Total down payment 25,000 6,250 25,000 25,000 Initial principal 100,000 118,750 100,000 100,000 Annual interest rate 7% 7% 6% 6.5% Term 30 years 30 years 30 years 15 years Home price 7/15/11 Neighborhood Schools Nice looking Jobs Kids in neighborh ood Property taxes 7/15/11 Decision Buy the House Room to grow a family School district Nice communit y 7/15/11 Conclusion Plan, Prepare, Execute. Budget Market Econo my 7/15/11 Questions for the Audience How does median income affect home sales? Home prices? How can you reduce your cost of buying a home? 7/15/11 References Mankiw, N. G. (2007). Principles of economics (4th ed.) . Mason, OH: South-Western Cengage Learning http://www.fool.co...
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This note was uploaded on 07/14/2011 for the course XECO 212 taught by Professor Cohen during the Spring '10 term at University of Phoenix.

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Janderson_Week9_Xeco_Final Project - 7/15/11 Mortgage...

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