Parkland
e I’ll do th you! r o f running
1136B N Desloge Dr. Desloge CELL OFFICE
N ew L istiNg
21040170
101 Briar Lane • $41 Picturesque setting! Gorgeous 2 story home sitting on 5 acres with beautiful landscaping. A detached oversize 2 car garage with a finished loft could make a great place for guests. The new owners constructed a 48x36 building with 12’ lean to, insulated, electric and has pellet stove and provides so much space, park your camper, boat and so much more!! The main level welcomes you with an open floor plan, living room with gas fireplace, great kitchen with center island, lots of counter space and cabinets, comes with gas range, refrigerator and dishwasher. A main floor laundry and bath finish off the main level. Retire to the master bedroom with large closet, recently remodeled bath with beautiful shower. The lower level has lots of storage, additional laundry hook up, one room finished off, need more finished space? bring your plans! Enjoy time on the 3 sided wrap around porch, play in the yard or make smores on the firepit! This is a dream home!! Call today!!
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Daily Journal Weekly Real Estate
Friday, June 25, 2021
Give your budget breathing room if you’re near retirement The Employee Benefits Research Institute recently asked retired women about expenses. Nearly 40% of women who had never been married reported their housing expenses were running higher than expected. Among divorced retirees, more than one in three said the same. That’s an argument for not stretching to buy a house that stretches your budget. Keep in mind that as DIY as you are today, as you age it’s likely you’re going to want (or need) to offload some of the upkeep to people you hire.
Friday, June 25, 2021 PAGE R2
Daily Journal Weekly Real Estate
PERSONAL FINANCE | REAL ESTATE
GOING IT ALONE Advice for single women seeking homeownership CARLA FRIED | Rate.com
F
or households that choose to own a home, the equity that builds up over time ends up accounting for a big chunk of net worth, which is the value of all assets minus all debts. Data from the U.S. Census Bureau finds homeowner net worth is 80 times that of renters. The median value of equity among homeowners is more than the median value of household retirement accounts. That’s an opportunity single women are eager to take advantage of. Freddie Mac, which guarantees mortgages, reported that in 2019 single women took out one in five of the mortgages it backed, up from 15% in 2010. The National Association of
Realtors reports single women are twice as likely as men to buy a home on their own (18% vs. 9%). For single women, whether not-yet married, never-married, divorced or widowed, a few tips:
Focus on what you need, not the max you can borrow One of the better investments you might consider ahead of getting serious about home buying is to sit down with a financial planner to think through your financial life and set a housing budget. This is important because once you start working with lenders, they will tell you the maximum you can borrow — not what you should borrow given your total financial picture. Nothing against lenders. It’s not their job to help you right-size a mortgage to your big picture. That’s what a financial planner can do. And plenty of planners will work on an hourly or project basis.
Don’t worry about coming up with a 20% down payment One of the biggest misconceptions among homebuyers is that you need to have a huge wad of cash for a down payment. Many mortgages adhere to rules put out by Fannie Mae and Freddie Mac, quasi-government agencies that provide financial guarantees to lenders. Fannie and Freddie will back a mortgage with a down payment of just 3%. Anyone who makes a down payment of less than 20% will have to pay for mortgage insurance. There are different insurance programs for different types of low-down-payment loans. For some, your credit score will come into play. But generally a down payment of 3% or 3.5% might tack on an extra 0.60% to 1.5% a month in payments, and you can roll the cost into your monthly mortgage payment.
The Garrett Financial Network groups together certified financial planners who operate as fiduciaries — that’s a must — and charge hourly fees. The XYPlanning Network is much the same, with a specialty in working with Gen X and Gen Y clients. No endorsement; we single them out because they will work by the hour and act as fiduciaries.
Consider a 15-year mortgage Not only does it have a lower interest rate, but polishing off the payments in double time can open up all sorts of options. Maybe it’s the ability to retire a bit earlier, or at least to not have to sweat staying at a high-powered job through your 60s. Set a low enough home-price target so you can handle the higher monthly payments compared to a 30-year loan. If a 15-year is too much of a stretch, you can take out a 30-year loan and send in extra money monthly (or once a year) to speed up repayment. Every lender allows this, and you should not be charged a penny.
Skip the four-bedroom Even if it fits in your budget, a recent analysis found that in the 100 largest metro areas, a four-bedroom home had a median cost $100,000 above a three-bedroom. A calculation suggests that opting for the smaller mortgage and investing the difference can grow to a $500,000 nest egg in 30 years (the standard mortgage choice). A $500,000 cushion can bankroll plenty of hotels and Airbnb’s for visitors.
Negotiate When it comes to buying and selling homes, single men are about 2 percentage points better. That’s the finding from a recent study by the National Association of Realtors of the deals single homebuyers and sellers agree to. Using the median priced home, researchers estimate single women end up losing $1,600 a year compared to single men. That’s money you likely could find plenty of uses for — in your home.
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132 Commercial Drive • Fredericktown • 783-4600
Tom Priday 573-760-3518 Broker/Associate Kay HarPEr 573-760-7943 Sales Associate JaSoN dEES 573-760-5626 Sales Associate LaNcE curEToN 573-561-4400 Sales Associate miSTy BroWN 573-944-7749 Sales Associate
www.fredericktownmorealestate.com w NetiNg Lis
#21043336 • $39,900 off CR 229 • Fredericktown GREAT BUILDING SITE CLOSE TO TOWN: Located just a few miles from Fredericktown, this 8 wooded acres has paved county road frontage and electric near. It would be a perfect place to build that new home or cabin.
w NetiNg Lis
#21041353• $64,900 #21031591 • $249,900 #21013488 • $159,900 Co Road 535 • fRedeRiCktown 679 RoCkshiRe dR • heRCulaneum 1020 madison 9218 • fRedeRiCktown 8.08 ACRES W/ WELL, ELECTRIC & ACCESS TO THE BIG ST. FRANCIS RIVER: Located just up river from Mill Stream Gardens, this 8+ acres offers a great place to build or set up your camper. It already has the well & electric in place and a nice shooting house and shooting range. The seller reports the deer hunting is fantastic. There is access to the Big St. Francis River for fishing, swimming and kayaking, which makes this property ideal for the outdoor enthusiast.
3-BR, 2-BA Ranch @ Providence Subdivision in Herculaneum: Tired of trying to find a home is this market? This new construction home is currently being built with an expected finish date of August 31, 2021. If you contract this one soon enough, the buyer can choose siding, brick, shingles, flooring cabinets, countertops and paint color. Several options and upgrades are available. The home shown is a similar model and my show upgrades and options.
4 BAY COMMERCIAL GARAGE WITH HWY. OO FRONTAGE: Located just outside of Fredericktown, Mo. this established garage has Hwy. OO frontage and offers a 3,483 sq. ft. garage with a lift, a 2,640 sq. ft. garage and a 1978 mobile home. This is a good business opportunity in a high traffic area.
#21005170 • $49,900 1006 saCket • faRmington 3.43 ACRES M/L BUILDING SITE IN FARMINGTON SCHOOL DISTRICT: Located in Southern St. Francois County, This mostly wooded tract is ready for building or a manufactured home. There is electric, a septic system in place and a shared well agreement. This property sits at the end of a deadend road.
PAGE R3 Friday, June 25, 2021
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PERSONAL FINANCE | ADVICE
SHEDDING
DEBT WEIGHT 8 steps f or gettin g old defau lts off your cre dit repor t
MO NS T
ER A
,P EX
ELS .CO M
DAN MILLER | Bankrate.com
B
ad credit doesn’t have to last forever. If you take steps to improve your finances, old debt will disappear from your credit report over time. Chapter 7 bankruptcies will stay on your credit report for 10 years, while unpaid or delinquent accounts stay for seven. But they don’t always disappear on schedule. If you’ve noticed old debts on your credit report, here are eight steps for getting them removed.
Verify debt age With a court judgment or bankruptcy, you can determine the age from the filing date. With delinquency, count the date that you first became delinquent and never caught up, says Maxine Sweet, retired vice president of public education for credit bureau Experian. For example: You miss a payment in January, but make it up and also pay for February. Then you miss March and your bill eventually goes into default. March is your delinquency date. Look back through your records to verify the payment history for old debts. If your credit report has an error, you can use these records to dispute the error with the credit agency. Why this is important: The original date of a debt determines when it falls off your credit report.
1
Confirm the age of sold-off debt No matter how many times a debt is sold, the date that counts for the seven-year credit report clock is the date of delinquency with the original creditor. It’s wrong if a collection agency buys your 10-year-old retail card debt and puts it on your credit report with a different date. Why this is important: You want records of original debt date to be as accurate as possible.
2
Get all three of your credit reports Your credit reports from consumer reporting agencies Equifax, Experian and TransUnion are not identical. The old debt in question might not be listed on all three. Download free copies of each report at AnnualCreditReport.com. Federal law entitles you to a free copy of each report every 12 months, but Equifax, Experian and TransUnion will give consumers free weekly credit reports until April 20, 2022. Why this is important: If you’re looking at only one bureau’s credit report, you may miss inaccurate information on another.
3
Send letters to the credit bureaus If the debt really is too old to be reported, it’s time to request its removal with the credit bureaus. When you dispute an old debt, a bureau will open an investigation and ask the creditor reporting it to verify the debt. If it can’t, the debt has to come off your report. In your correspondence, include copies of anything that supports your claim for removal, such as copies of court filings that show the correct date for a judgment or a letter from your original creditor showing when the account became delinquent. If a collection agency is reporting an account as a different or newer debt, include any paperwork showing that the two accounts are really the same debt. Send your documents certified with a return receipt requested, so that you can prove when it was sent and that it was received. Why this is important: If you can prove that the debt is older than legally allowed to show on your credit report, the credit bureaus can remove it.
4
Send a letter to the reporting creditor Send a similar letter to the creditor who’s currently reporting the debt. Either reframe your credit bureau letter with copies of your documentation to the creditor or simply send a copy of the same letter with copies of any documents included. Avoid making statements that could restart the debt clock if the statute of limitations has not expired. As with the credit bureau, send the letter certified with a return receipt requested. The creditor has 30 days to investigate your claims and respond. Why this is important: Depending on who your creditor is, it may be faster to work directly with it to get your old debt off your credit report. You may find it easier to work with larger, more established creditors than with smaller collection agencies.
5
Get special attention If your initial letters don’t do the trick, “direct your next letter to the president’s attention at the company’s headquarters address,” says Sonya Smith-Valentine, former managing attorney at Valentine Legal Group. “You get a different kind of response from the office of the president than you do from customer service.” Again, send it certified and keep a copy in your files. Why this is important: Escalating your communications may help get you to the right person or department to dispute old debt.
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Contact regulators If the collector is a bank, it has a federal regulator, SmithValentine says. “They actually take individual complaints and contact the companies about the complaints they receive.” Do this only if “you have contacted the company and received no resolution or response,” she says. Regulators want to see that you’ve tried to solve it yourself. Again, opt for snail mail. Print out the regulatory agency’s complaint form, fill it out and send with your documents. Why this is important: Financial regulators provide critical oversight and support for consumers trying to set the record straight about their credit reports. If you have not been able to get through to the credit bureaus or the creditor directly, financial regulators may be able to help.
7
Talk to an attorney Consulting an attorney doesn’t always mean pursuing a lawsuit. Sometimes all it takes is a letter on legal stationery to make a creditor review records. If, despite your efforts, a creditor is keeping old debt on your report, an attorney can also advise if you should pursue a lawsuit. One source for help is the National Association of Consumer Advocates, an organization of lawyers specializing in debt law. Why this is important: A lawyer’s help can help get your case seen by the correct people.
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CELL OFFICE
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1136B N Desloge Dr. - Desloge Farmington / $499,900
Farmington / $424,900 Stunning 2 story, 5 bed, 3.5 bath home with approximately 3500 square feet of living space, 3 car attached garage sitting on a beautifully landscaped yard. You will feel right at home in the large great room as it will awe you with vaulted ceiling, open wooden staircase to the upper level & gas fireplace, the perfect space to spend time with family & friends. The kitchen was designed to make preparing meals a pleasure, beautiful maple cabinets, granite counter tops & newer appliances & adjoins the large dining rm. The large master bedroom with vaulted ceiling & ensuite bath has separate tub & shower along with a spacious walk in closet provides a get away right at home! The upper level has 3 additional bedrooms, bath and a laundry shoot to make getting the laundry where it needs to go! Lower level is finished with a 36 x 26 room that could be used for multiple purposes, bathroom, storage, wet bar & additional room currently used as a office. Lots of extras must see to appreciate.
21035120 Farmington / $209,900
21033585
Back on the market no fault of the seller! This spectacular home built in 1882 has stood strong & weathered many storms while being a safe haven to many families!If you love old world charm this 2 story, 3 bed, 2 bath home with approximately 1961 sq feet of living space will welcome you with it’s character, from the beautiful foyer, large living & dining room with bay window & gorgeous hard wood floors!Large kitchen has lots of cabinets,counter tops,center island & gas range/oven to make preparing meals for family & friends a pleasure.When it’s time to retire for the evening head up the beautiful stair case,in additional to bedrooms, a large bath with claw foot tub & 22x12 closet/storage area will wow you!The home sits on a corner lot & has a privacy fence around the back yard, hang out on the deck or play in the yard!Check out the beautiful landscaping & the upstairs storage in the garage!The current owners have put a lot of time and energy into making this home move in ready for you!
Needing to Buy or Sell?! Call Vicky Crocker Realty TODAY, and Let Us Do the Running For YOU!! www.facebook.com/vickycrockerrealty
PAGE R5 Friday, June 25, 2021
21041045
Beautiful custom home in a highly desired location just minutes from Farmington. With over 2600 sq/ft, this home boasts 3 bedrooms and 3 bathrooms and a full basement with tuck under garage and concrete safe room. Enter into this tastefully decorated and well-maintained home with ample living space and you are sure to enjoy the kitchen space, connected dining area and attached large family room. A large patio outside the family room makes this home perfect for entertaining family and friends. The attractive master suite includes a vaulted ceiling and walk out to the covered porch, with attached bath including a walk in closet, jetted tub and separate tile shower. Two bedrooms upstairs with, full bath and additional living space. 100 solar panels produce more than enough electric. Endless possibilities with 20x20 office & 40x64 heated/cooled garage; room for all of your recreational vehicles. Inside and out, properties like this are difficult to find. Call today for a personal showing.
NEW
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Friday, June 25, 2021 PAGE R6
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Daily Journal Weekly Real Estate Friday, June 25, 2021 PAGE R8
Vanessa Trokey 573-330-6261
Cindy Backer 573-760-4243
Nic Woods 573-631-4927
Jim Triplett 573-760-4246
Alma Lorch 573-760-6042
David Werner 314-402-0176
Jeff Layton 573-631-9316
Abby Heberlie 573-760-5441
Wanda Sucharski 573-631-9494
Tom Weddle 573-760-6477
Macy Busenbark 636-234-8670
Nick & Larissa Jennings 573-315-1376
Mike Curtis 573-366-8283
Justin & Casey Patterson 573-701-4184
Ric Hampton 314-808-0485
Thomas Beckerman 573-631-1825
Ben Zimmerman 573-747-9325
Jay Sheets 573-631-8970
Amy Forsythe 314-660-3518
Kim Hutson 573-760-9789
Glen & Mary Hagan 573-701-1690
Tom Stanfield 573-760-6000
Ronda Barks 573-631-1663
Candace Glore 573-366-8739
Thinking of Buying or Selling – We’d ❤ to help!!