Eric Mitchell Real Estate

How to Help Home-Bound Teenagers Cope Stay-at-home restrictions are challenging for everyone, especially teenagers. In the wake of the coronavirus pandemic, teens – who would normally just be starting to enjoy life as independent beings in the world – are suddenly back under the purview of mom and dad. To make matters worse, many teens have had something extremely important to them suddenly ripped away: a lead in the school play, a varsity spot on the team, prom, graduation, a part-time job, etc. On top of that, their all-important social life is now off limits as well. What’s a parent to do? While nothing will come close to replacing the life your teenager had been living, here are a few strategies to help your teen cope: Make sure they’re informed.  Teens are masters of disguising their true feelings, so don’t misread their cool demeanor as apathy. They might be getting the bulk of their information through social media, which is not always accurate and may be causing und

Signs You're in a Lousy 401(k) Retirement Plan Many Americans just aren’t prepared for retirement. Two-thirds of families fall short of conservative retirement savings targets to retire at age 67, according to a 2015 study by the National Institute on Retirement Security. The median retirement account balance — including money in a 401(k) retirement account — is $2,500 for working-age households, and $14,500 for near-retirement households, the study found. Even for workers who contribute to their employer’s 401(k) plan, they may not be saving enough money to get them to the often recommended retirement income goal of having 70 – 80 percent of their pre-retirement income, or they may be in a 401(k) that isn’t doing a good job of making money for them. Here are some signs that you may be in a lousy 401(k) retirement plan: Low results:  Poor performance is an easy indicator to spot, and it doesn’t mean you have to stay with that 401(k). Moving to another retirement pla

Save for a Home with a Dollar-for-Dollar Match Program A federal program helps low-income families buy a home with a unique method meant to encourage saving: It matches dollar-for-dollar what they save to buy their first home. The Individual Development Account, or IDA, doesn’t offer a lot of money to help with a down payment — up to $2,000 in federal matching funds with more contributions possible from local IDA programs — but it’s a start. Participants can start by saving as little as $25 — matched to as much as eight to one, depending on the program, though most offer one-to-one matches. Income levels must be 200 percent below their state’s poverty level. With an 8:1 match, IDA participants can raise much more than the $4,000 total with federal matching, and could have $10,000 or so for a down payment on a house. Most IDAs are funded by the federal government and are run by nonprofit groups and financial institutions, and grantee programs are required to raise an equ

Is Granite on its Way Out? According to the National Kitchen and Bath Association, granite countertops are in less demand today, while the use of quartz is on the rise. Why? For one thing, man-made quartz countertops are offered in a far greater range of looks and feels. Reason number two: it’s a bit easier to maintain over the long haul, and it’s deemed a better environmental choice because it emits lower levels of radon—a potentially cancer-causing agent. To be fair, the Environmental Protection Agency (EPA) maintains the radioactive materials in granite countertops are far too minuscule to pose a health threat. So what, exactly, is a quartz countertop? It’s made of engineered stone, composed of at least 90% ground-up quartz mixed with a binder (like resin) then molded into a slab. Because pigment is added during the manufacturing process, the sky’s the limit when it comes to color. And quartz is non-porous and fairly resistant to stains, mold and bacteria. Unlike grani

Steps to Take After Identity Theft Reacting quickly is essential after you’ve been the victim of identity theft. It can lessen the damage by thieves and lower the stress of having your credit card lost or stolen. You may notice when you get home that your credit card is missing. Or you may get an email from your credit card company that there is some suspicious activity on your account. Whatever alerts you to identity theft, here are some steps to take immediately after realizing it: Get on the phone Depending on the circumstances, you may want to first call the police to report a crime. If someone just grabbed your purse and ran away, the police are obviously the first agency to contact. Next, call your credit card company and ask that it cancel your credit card and send you a new one immediately. If any charges were made by the thieves, the credit card company should remove them. With anyone you contact about this theft, be sure to take notes of the names, dates,

Making Financial Lessons a Family Tradition Teaching children manners and how to tie their shoes is one thing, but financial lessons are often pushed to the wayside until it’s too late. Budgeting and financial planning should be a focus in every household. Whether you are passing along your lessons to your children, nieces or nephews, keeping financial sense in the family can have longstanding benefits. Here are some financial lessons you can teach children before they leave home: How to Budget Whether it’s through a household budget that you let them become a part of, or a weekly allowance on which they have to determine how to spend and save, budgeting is a skill they will be able to use throughout their lives. Show the younger generations how to budget for monthly expenses, such as a mortgage, groceries, utility bills and other expenses, and then show them what your monthly income is. If the expenses are higher than the income, then work together to cut expenses and l

5 Financial Tips for First-Time Parents So a babe is on the way? Congrats! Along with the chaos of, well, everything that is to come, your finances are about to experience an upheaval, as well. According to the U.S. Department of Agriculture, it will cost upwards of $245,000 to raise a child born in 2013 to the age of 18—and this does not include college. Feeling that bank account burn already? Below are five tips for rocking your budget as a new mom or dad. 1. Tweak the budget.  Your new little one is going to cost a pretty penny. From hospital costs to diapers and child care, budgetary stress is an added strain on you as a new mom or dad. Look for any unnecessaries you can slash to make room for more baby dollars. The more prepared you are, the better. 2. Track your spending.  Don’t just make that budget and set it aside. Set a monthly meeting with your spouse to look over your spending, make sure you’re on track, and identify any problem areas or potential saving pockets

When A House Doesn't Sell So what happened? The house has been sitting on the market for 180 days, had a few showings, feedback wasn't bad, you even lowered the price by $20,000...what happened? It's a frustrating situation for sellers and their agents. It happens all the time.  "Oh, it's just the market. A buyer will come along eventually". Is it just the market? What about those homes that sold in a week just around the corner? The market was fine for that home. "It's over-priced. We need to cut the price by $10,000 to get to the next buying level". Could be. But if you've done the research and found the right comparable home sales and you know the price is right...what then? Marketing is the key ingredient to selling a house when it's priced right. A good marketing strategy can even overcome a house being a little over-priced by attracting a larger buying pool. Many agents look at marketing as putting a home in MLS, puttin