Page 11 - June 2021 Issue.indd

There simply are more buyers than there
are sellers. Knowing you are paying more
for a product than the seller is asking Denton Rotary 2021
plants a seed in your mind that value of
your home in the future may be less than DISCOUNT CARD
what you paid for it. In other words,
buying high and potentially selling low.
Many remember what happened in the
last real estate boom when prices peaked This fundraiser will help the Denton Rotary Club fund local
in 2006 to 2008. initiatives such as Dolly Parton’s Imagination Library, Denton
Boy Scout Troup 168, local food banks, along with Kenny Wood’s
The market 13 to 14 years ago was
driven by what was called “easy money”. Lifetime Wells International. Discount cards may be purchased
Mortgage products were available to for only $20 from any Denton Rotary member.
just about anyone regardless of credit
or income or ability to repay. No Doc Stop by the following members’ place of work to purchase cards:
loans ruled the day where you were not Charlie Huber , State Farm, 19 S. 3rd St.; Debby Bennett, CC
required to document assets or income.
Basically, if you could fog a mirror by Public Library, 100 Market St.; Amy Horne, CASA, 114 Market St.
breathing on it you were qualified. Suite 100; Laura Reeder, Shore United Bank, 850 S. 5th Ave,
Houses were selling like crazy because Denton. Payment can be made by cash or check made out to the
lenders were crazy about lending. Denton Rotary. Online payments may be arranged.
Today’s market is totally different.
Participating Businesses Listed Below (Discounts Good Thru 12/31/21)
Getting a mortgage is not as easy as it
was then. Underwriting guidelines are
tighter. Property appraisals are more
regulated and the relationships between
parties in the transaction, namely
lenders and appraisers, are more tightly
regulated and monitored. Getting a
Katie
mortgage today is not considered “easy
money.” Mae’s
The decision to buy your first home 10% Off 15% Off Dine-In 10% Off
in this market should be driven by a Produce & Plants or Take-Out Everything
simple question, will this home provide
me and my family what is necessary to
satisfy our housing needs for the next
7-10 years? If it will not, will I be able to
improve it to make it so or at the very
least improve it to enhance its value if
selling and moving up is an option.
15% Off in Gift Shop
10% Off LLH
The need for housing will not be going 10% Off

Prepared Foods and
away. The desire of most Americans is to Everything

NK Coffee & Spices

own their own home. The cost of renting
a home is not significantly cheaper than

owning in many markets, considering
monthly payments only. Mortgage rates
10% Off Everything
have not been at these levels in 50 years,
although they were slightly lower several
months ago.
Buying your first house is a good
investment decision if you are aware
of and accept the possibility that the 15% Off in Gift Shop 10% Off
real estate values could and at some 10% Off Ice Cream or 15% Off Everything Dine-In or
point, will go down. Right now, Dessert in Cafe in the Foundry Take-Out

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