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62 BRAVA MAGAZINE | JUNE 2014 Whether you are preparing for your first marriage, marrying again or are currently married, it's smar t to protect what you've worked to acquire. A marital proper ty agreement can ensure that your proper ty, investments or future inheritance are yours for the keeping. Call Murphy Desmond today! Madison Janesville Appleton 608.257.7181 murphydesmond.com Savings. Home Equity. 401K. Savings. Home Equity. 401K. Can you afford to give half your assets away? listed in their desired location. "One thing people need to know is you can't hesitate," he explains. "You have to be cautious and make sure you've got the right home, but once you ÄUKP[`V\IL[[LYQ\TW¹ FEARLESS FINANCING ;OLÄYZ[[OPUNI\`LYZZOV\SKKVPZJVUZ\S[ with a mortgage lender, Restaino and Howe advise. That way they can be preapproved for a mortgage they can afford—and be ready to buy at a moment's notice. "Find out what you can buy before you shop," advises Howe. /H]PUNÄUHUJPUNWYLHWWYV]LKW\[ZHI\`LY in a better position to get an accepted offer, especially when competing with other home shoppers. "Sellers want security and the best way to get a closing is to have a buyer who JHUNL[[OLÄUHUJPUN¹ZH`Z9LZ[HPUV Mortgage loan interest rates are still historically low at an average below 4.25 WLYJLU[)\[Q\Z[SPRLOVTLWYPJLZ^OPJOHYL VU[OLYPZLPU[LYLZ[YH[LZHYLHSZVWYVQLJ[LK to increase. "What that means is what's affordable now will be less affordable later," says Howe. "Right now we're at the peak of affordability." As prices go up and interest rates rise, you have less buying power. She explains that a 1 percent increase in an interest rate equals 10 percent less buying power for the same purchase. For example, HSVHUÄUHUJLKH[WLYJLU[PZ equal to a smaller, $180,000 loan at a 5.25 percent rate. While lending rules have tightened, Howe PUZPZ[Z[OH[[OLÄUHUJPUNWYVJLZZ can be accomplished fearlessly with the help of a good lender, who can advise on what's available to the buyers, as well as ways to attain their goals if not quite there, including ÄUHUJPUNWYVNYHTZ[OH[VMMLYKV^UWH`TLU[ assistance. "People shouldn't be afraid or shy about talking with someone," she adds. Financing questions may seem daunting, but Howe says that getting them answered upfront, before ÄUKPUN`V\YKYLHTOVTLPZH^PZLTV]L A TEAM APPROACH When buying or selling, these real estate professionals agree a team approach works best. One home-buying team member people may not initially consider is an attorney, but there are many reasons a legal presence can ILHTHQVYMHJ[VY[VHZ\JJLZZM\SZHSL Mendoza, who's bilingual in Spanish and often works with a diverse community of people and needs, says he most commonly advises sellers in a "for sale by owner" transaction, one with multiple buyers, or between family members. The latter, he says, is becoming more common as the population ages, and he adds, often requires knowledge beyond real estate law, especially if trusts and other estate planning functions are involved. For both homebuyers and sellers, he says an attorney can advise on contingencies, warranties or inspections, as well as be a liaison with the title companies. Contingencies on contracts are an area attorneys are often asked to step in for and VMMLYHK]PJL;OLZLÄULKL[HPSZVM[LUSLH]L[OL door open for a buyer or seller to walk away, a waste of time and resources for both sides. "A lawyer both anticipates and resolves issues, before or at closing," he says. "We help the parties complete the transaction as they intended." Even in today's improved market, it's good to look to experts, who can help buyers and sellers make or protect a wise investment. Some sage advice: "Be patient and be JVUÄKLU[¹ZH`Z9LZ[HPUV¸.VVKOVTLZJVTL and go, but bad purchases stay with you for a long time. The key is to work with someone who knows the market and that you trust." "You can't hesitate. You have to be cautious and make sure you've got the right home, but once you ÄUKP[`V\IL[[LYQ\TW¹ –Ron Restaino, owner/broker, Restaino and Associates SPONSORED CONTENT