A sudden and devastating flash flood in Pennsylvania has left a family shattered and a community searching for answers. Katie Seley, a brave and selfless 32-year-old mother from South Carolina, tragically lost her life while trying to save her two young children from the raging waters. As the search for her missing kids continues, the community has rallied together to support the grieving family in their time of need.
The unexpected flood occurred over the weekend in Pennsylvania, catching many people off guard. The torrential downpour caused the General Washington Memorial Boulevard to flood, trapping 11 vehicles and causing widespread destruction. Unfortunately, this natural disaster has already claimed the lives of five individuals, and the search for the missing is ongoing.
Katie’s husband, Jim Sheils, their eldest son, Jack, and Katie’s mother, Dahlia, miraculously survived the flood. Together, they are determined to protect their family. Both Katie and her mother bravely attempted to rescue their other two children, Mattie and Conrad. Tragically, the force of the flood was too powerful, tearing the children from their desperate grasp.
The family has requested a spokesperson to speak on their behalf, revealing that they were visiting relatives in Pennsylvania when disaster struck. They were on their way to a barbecue when their car was engulfed by the torrent of water. Search teams swiftly arrived at the scene and recovered Katie’s lifeless body amidst the wreckage caused by the flash flood. However, Mattie and Conrad are still missing, prompting a massive search effort.
Amidst their grief, Katie’s family expressed their gratitude for the outpouring of support from the community. The strength they find to carry on is bolstered by the unwavering commitment and compassion of those involved in the rescue efforts.
The flood caught everyone by surprise, inundating streets and homes without warning. Jim managed to save their eldest son, while Katie and her mother desperately tried to protect the other two children. However, the sheer force of the water overwhelmed them, sweeping them away.
As search teams continue their tireless efforts to find Mattie and Conrad, the family pleads for privacy and understanding. They will not be making any further statements or responding to inquiries while they mourn and grieve.
The devastating flood wreaked havoc on the area, leaving cars overturned, trees damaged, and countless homes in ruins. Search operations had to be temporarily suspended until the floodwaters receded.
Once the weather cleared and the floodwaters subsided, rescue crews resumed their search. Boats scoured the Delaware River, while drones meticulously combed the area in the relentless pursuit to locate the missing children.
While Katie’s body has been recovered, the search for nine-month-old Mattie and two-year-old Conrad continues. The surviving family members are deeply grateful for the compassion, kindness, and bravery of all those involved in the rescue efforts. They remain hopeful and unwavering in their mission to bring the missing children home.
The community’s unwavering support has been instrumental in helping the family stay strong during this unimaginably challenging ordeal. The family appreciates the love and prayers extended to them during this time of grief.
Katie’s tragic death is not the only loss suffered during this devastating flood. Four other individuals also lost their lives, further highlighting the immense impact it had on the community.
Time Brewer, the Upper Makefield Fire Chief, reflected on the magnitude of the flood, stating that in his 44 years of service, he had never witnessed anything like it. The flood, which dumped six to seven inches of rain within just one hour, caused severe damage to local properties and left an indelible mark on the community.
As the search continues, the Upper Makefield Township Police Department urges everyone to pray for the affected families and respect their privacy. The support and dedication of the first responders and the entire community have not gone unnoticed, and the Sheils family is grateful for the overwhelming support received during this challenging time.
This heartbreaking tragedy serves as a reminder of the fragility of life and the importance of uniting in times of crisis. Let us continue to rally around the Sheils family and all those affected by this devastating flood.
How to Own Your Dream Home
For most people, their first home isn’t their dream home. It starts off nice enough. But as time goes by and your family grows, starter homes tend to get a little . . . cramped.
But don’t hate on your current home too much. Because while it gave you a safe and dry place to lay your head at night, it was also setting you up to own your dream home someday.
We’ll show you how it all works and walk you through the steps that’ll get you in your dream home—one you can actually afford!
How to Get Your Dream Home in 5 Steps
Here are the steps:
- Follow the Financial Basics
- Find Out How Much Equity You Have
- Set Your New Home-Buying Budget
- Find the Right Dream Home for You
- Be Picky and Patient
Now let’s cover each step in more detail.
Step 1: Follow the Financial Basics
First thing’s first—you have to get out of debt, get on a budget, and build up an emergency fund of 3–6 months of expenses. Sounds pretty basic, right? If you haven’t completed these steps, then you’re not ready to upgrade to your dream home . . . yet.
Now, when you’ve got house fever, it can be hard to focus on paying off debt or saving an emergency fund before you upgrade your home—especially when you’re feeling the pressure of rising home prices and interest rates.
But whether it’s your second or third house, you should only buy a home when you’ve covered the financial basics we mentioned above. Then you’ll be ready to start the journey toward owning your dream house.
And that journey starts with your home equity. What’s equity? Well, we’re glad you asked . . . that brings us to the next step.
Step 2: Find Out How Much Equity You Have
Home equity is a pretty simple concept: It’s your current home’s value minus whatever you still owe on your mortgage.
See, in most cases, your home’s value increases over time. Similar to other long-term investments (like retirement accounts), homes gradually increase in value. There have been periods of ups and downs in the market to be sure, but the value of real estate has consistently gone up. According to the St. Louis Federal Reserve, the average sale price of a home has increased over 2,300% from 1965 to 2023! And in the last ten years (2013 to 2023), there’s been a 68% increase.1 As your home increases in value, so does your equity. In real estate terms, this is called appreciation.
Other factors that increase your home’s equity include:
- Added value: Home improvement projects like adding square footage, updating fixtures and appliances, or even just slapping on a new coat of paint can add value to your home.
- Mortgage paydown: Paying down your mortgage not only gets you out of debt faster, it also builds your equity. The less you owe on your home, the more equity you have.
The amount of equity you have gives you a pretty good idea of how much money you’ll end up with after selling your house. You can use that money to make a hefty down payment and cover the other costs that come with buying a home.
Find expert agents to help you buy your home.
So, how do you determine your home’s value? Well, you can get a ballpark estimate on real estate websites like Zillow, ask a trusted real estate agent to perform a competitive market analysis (which they’ll do anyway if they’re helping you sell your house), or get a professional appraisal.
Finding out your home’s equity will involve a little math, but it’s third-grade-level stuff, so don’t sweat it.
Here’s what we mean. Let’s say your home’s current value is $355,000. When you sell that house, you’ll have to pay for between 1–3% of the sale price in closing costs, another 6% in fees for the real estate agent who helped you sell it, and whatever’s left to pay off on your mortgage.
That means you can estimate clearing over $223,000 from selling your house. That’s a killer down payment on your dream home! And if your home is paid off, that’s even more money to put down and use to pay for things like repairs and moving expenses.
Step 3: Set Your Dream Home Budget
Once you know how much you’ll clear from the sale of your home, you can start making a budget for your dream home.
The key to owning your dream home (instead of it owning you) is to keep your mortgage payment to no more than 25% of your take-home pay on a 15-year fixed-rate mortgage, along with paying a down payment of at least 20% to avoid private mortgage insurance (PMI). Never get a 30-year mortgage even if the bank offers it (and they will). You’d pay a fortune in interest—money that should go toward building your wealth, not the bank’s.
So, let’s say your take-home pay is $4,800 a month. That means your monthly mortgage payment shouldn’t be any bigger than $1,200. By the way, that 25% figure should also include other home fees collected every month with the mortgage payment like homeowners association (HOA) fees, insurance premiums and property taxes.
Plug your numbers into our mortgage calculator to see how much house you can afford.
And don’t forget to budget for all those other costs that come with the home-buying process in addition to your closing fees—things like moving expenses and any upgrades or repairs you might need to make. You don’t want these hidden costs to catch you off guard or drain your emergency fund.
Step 4: Find the Right Dream Home for You
This is where things get real. After all your hard work building up your equity (and doing a lot of math—don’t forget that), you’re finally ready to start the house hunt. Woo-hoo!
But don’t lose focus. Stay zoned in by making a list of features that make a home fit your budget, lifestyle and dreams—and stick to it throughout your house hunt. Here are a few ideas to get you started.
- Don’t compromise on location and layout. If you plan to be in this home for the long haul, an out-of-the-way neighborhood or a wacky floor plan is a deal breaker. Look for a community and layout that’ll suit your lifestyle now and for years to come.
- Think about how much space your family needs. While your budget has the final say about how much home you buy, you’ll want your dream home to fit your family’s needs through different life seasons.
- Consider the school districts. If you have or want kids, the quality of the nearby school districts is probably already on your mind. But even if you don’t have kids or you’re retired, keep in mind that having good schools nearby could increase your home’s value.
- Look for a house that’ll grow in value. Are home values rising in the area? Is the number of businesses going up? These factors can help you figure out whether your dream home will turn into a good investment.
- Count the costs. Want that fancy master bathroom with the multiple showerheads and the Jacuzzi tub? Be clear on what’s a must-have and what’s nice to have. And don’t forget, upgraded features like that will make your dream home more expensive.
Step 5: Be Picky and Patient
We know you’re anxious to get into those new digs, but be patient. Wait for the right house at the right time. Don’t spend your money on a less-than-ideal home just because you’re tired of looking.
The key is finding a good real estate agent who understands your budget and refuses to settle for “good enough.” They’re as committed to your dream as you are and will have your back throughout the entire process, no matter what it takes.
In addition to teaming up with a great real estate agent, you can take a couple of extra steps to make sure you’re ready to strike as soon as the right home comes up:
- Get preapproved for a 15-year fixed-rate mortgage. Having preapproved financing is a green flag for sellers—especially in multiple offer situations. And because this puts most of your information in the lender’s system, you’ll be on the fast track to closing once your offer is accepted.
- Offer earnest money with your bid. Earnest money is a deposit to show you’re truly interested in a home. Usually it’s 1–2% of the home’s purchase price and it’s applied to your down payment or closing costs. Even if the deal falls through, you can almost always get most of it back.
Find a Real Estate Expert in Your Local Market
Now, you might be thinking you have some work to do before you’re ready to find your dream home. Or you may be realizing your years of hard work are about to pay off! Regardless, if you follow these steps, you’ll find the house you’ve always wanted and avoid a purchase you’ll regret.
Once you’re ready, connect with one of our RamseyTrusted real estate agents. These are high-performing agents who do business the Ramsey way and share your values so you can rest easy knowing the search for your dream home is in the right hands.
Find the only real estate agents in your area we trust, and start the hunt for your dream home!
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