Top 10 travel tips

Members of Priority Pass, one of the world’s largest independent airport lounge programs, recently gave their top travel tips in response to a survey.

The wide-ranging advice is a useful check-list for anyone preparing for a trip, and covers tips to save money, avoid stress, protect yourself and your belongings, and much more.

1. Protect laptops and essential business documents. A stolen or damaged laptop can ruin more than just a business trip. If vital documents are on it, it can be a commercial disaster. Make sure vital documents are backed-up and ensure that any sensitive information on your laptop is securely encrypted. If you are making presentations on a trip, then it’s wise to take them on a USB stick. Don’t check your laptop into the hold of an aircraft, unless you are not really bothered about seeing it again.

2. Get adequate insurance. If you travel frequently, it can be easy to get blasé about insurance, but having adequate coverage for all eventualities can be the wisest investment you will ever make. For frequent flyers, an annual policy makes sense, but don’t choose the cheapest without comparing deals.
it again.

3. Think about medication, glasses and more. Unless you’ve been stuck in a foreign land without the right medication, it may not occur to you how important it is. If you have prescription drugs, make sure you take enough with you, and it’s always wise to have a mini-medicine cabinet of essentials at hand. Less obvious are glasses and contact lenses. If you’re one of those people who would really struggle without your glasses, then take a spare pair with you- and maybe the prescription too. Losing or breaking glasses may not happen often, but if it does it can be highly inconvenient. If you’re travelling to more exotic destinations, don’t forget to check what immunizations you need- and whether you need certification of that with you in order to enter the country.

4. Control the cost of keeping in touch. If you don’t plan ahead, it can cost a fortune to stay in touch while travelling. Expensive roaming charges on your mobile phone, wi-fi charges to check your emails using your laptop, even just receiving calls and texts on your mobile- they can all add up to a lot more than you expect. Make sure you have selected the best mobile tariff for international calls, and plan ahead for wi-fi access if you plan to use the Internet a lot. You can save a lot of money by signing up to a global wi-fi access deal.

5. Overcoming jetlag. Priority Pass members find jetlag one of the most negative aspects of long-distance travel- and also one of the most difficult to overcome. Just as jetlag affects everyone differently, it seems that everyone has a different theory on how to get over it. The most common advice is that you should set your watch to the time in your destination as soon as you start your trip.

6. Avoiding airport stress. More than ever these days, airports are an ordeal rather than a pleasure and Priority Pass members had a number of suggestions to minimize the stress levels. Online check-in, when available, is one obvious solution, and ensuring that you know the airline’s baggage limits is another. With many no-frills airlines getting tougher on the weight of bags, it can come as a nasty shock if you have to get your credit card out at the airport, and you may find yourself paying more for your baggage to travel than for yourself.

7. Avoid excessive charges on foreign exchange and credit cards. It’s always a good idea to think about how you will pay for things on your trip. Does your bank charge a fee every time you use a card abroad? Will your card work at all when you are abroad? Another banking query that arises more these days is that you will be offered the opportunity to settle your bill at a given exchange rate so you can see the amount in your home currency. The general advice is not to do so, as most reputable banks will beat the rate offered by shops or restaurants.

Finally, if you are changing money, watch out for “commission free” deals that can actually work out to be very expensive because of the terrible exchange rate.

8. Getting an upgrade. Upgrades happen, but it seems not to be something you can plan for. Our feedback is that dressing relatively smartly and being friendly and polite at check-in helps, and it doesn’t do any harm to ask gently if there is any possibility of an upgrade.

9. Don’t be selfish - think of others. This is not exactly a tip, but a plea. One of the biggest complaints travelers have is selfish behavior of others; things like talking loudly on a mobile phone, or playing loud music through headphones.

10. And finally - enjoy yourself. This may sound daft, but sometimes the stresses of a journey can almost hide the pleasures, especially if it’s a business trip. But a lot of Priority Pass members made a point of saying that those who are fortunate enough to travel on business should ensure they appreciate how lucky they are. Yes, airports can be a pain, delays can be very frustrating and jetlag can leave you feeling wretched. But seeing new places and cultures is a thrill that not all can enjoy, and is something to be savored. Even on a business trip, try to leave a little time to explore your surroundings.

12:25 PM - Sep. 9, 2009 - comments {3} - post comment

New closing time lines

7:03 PM - Sep. 7, 2009 - comments {0} - post comment

Consider a stock secured loan

This article is by Joel Greene, mortgage broker and President of Condo Hotel Center.

With real estate values continuing their nosedive to astounding new lows, the one thing that prevents investors from taking advantage of the great buying opportunities is the scarcity of money.

Despite their federal bailout, banks still aren’t ready to open up the cash tap.

Most borrowers won’t meet the more severe regulations imposed by Fannie Mae and Freddie Mac. 

Home equity loans, with all their complex paperwork and extra costs have lost their appeal.  Plus, with today’s deflated values, these loans aren’t an option for most home owners.

Investors don’t want to secure private funds if it means paying 10-12 up front points or high interest rates. 

Even wealthy individuals who want to leverage what they have can’t get loans, despite their cash reserves. 

So how can investors get financing for real estate when it’s as elusive as Big Foot?

Stock-secured loans.  This new financing option is rapidly gaining popularity.  It lets borrowers use their stocks or other securities, (mutual funds, CD’s, bonds or treasury notes), as collateral for loans, up to 85% loan-to-value in some cases. 

Part of their appeal is that the process for obtaining these loans is surprisingly simple.  The real estate being purchased does not need to be appraised.  The borrower doesn’t have to furnish lots of documentation (tax returns, employment records, etc.).  And no credit checks are done.  The only thing required is a stock or securities portfolio to use as collateral.

Best of all, borrowers don’t have to liquidate any of their holdings, a real plus since values right now are at record lows.  They simply use their securities as collateral, even as those holdings continue to grow!

While most people seek stock-secured loans to purchase real estate, they also can be used for almost any other purpose, from paying for college to financing an overseas trip, a new business or even a yacht.  Again, if the borrower has stocks or securities, they most likely can be tapped for money right now.

For that reason, stock-secured loans even work for people who want to purchase homes but won’t qualify for traditional financing, either because they lack cash for a down payment, have poor credit, don’t have a job or have past foreclosures or bankruptcies in their past.

Borrowers can obtain stock-secured loans ranging from $50,000 to $200 million.  Currently, interest rates start at 4.99%, interest only.  Terms are typically 2-7 years. 

At the end of the term, a balloon payment of the loan’s balance is due.  The borrower then can do any of the following:  a) refinance the loan, b) sell the stocks pledged as collateral to repay the loan, or c) walk away from the shares pledged as collateral.  No matter which option is chosen, there is no recourse, and the loan is considered paid off.

In today’s tight-credit economy, stock-collateralized loans offer a viable alternative and are certainly an option worth considering for anyone seeking to invest in real estate or other major purchase.

6:30 PM - Sep. 5, 2009 - comments {0} - post comment

Cleaning uses for common household items

These ideas are from Front Range Inspection:

Hot sauce cleans copper-Rub it on dulled copper, rinse with water, and polish clean with a soft rag.
Olive oil brightens up wood-Use a thin coat to hydrate worn, dried-out wood, as long as it was originally treated with an oil finish. Finish by buffing it in.
White wine removes red wine-The first step in removing red wine stains is dousing the spot with white wine. Just blot with a clean rag to absorb the spill.
Vinegar cleans brushes-Boil a cup of white vinegar and rest hardened bristles in it overnight.
Cornmeal soaks up grease-Cover a fresh grease stain with cornmeal, let it sit a few hours, and sweep it up.
Baking soda removes tape residue-Make a thick paste of baking soda and water. Rub the paste onto bits of tape, then wipe clean.
Kitty Liter soaks up grease and oil stains on your concrete including the garage- Pour the kitty litter on the stain or spill completey cover the area and grind it in with your shoe, give it some time it will draw out the stain.

2:09 PM - Sep. 3, 2009 - comments {0} - post comment

Green remodeling

This article is fromFront Range Inspection.

As homeowners consider health issues, skyrocketing energy costs and Earth's natural resources. Green remodeling may increase the value of your home. The driving force behind green remodeling is energy conservation. The average home today uses systems for heating, ventilation and air conditioning, and some homes were not built as efficiently as they could have been, resulting in high energy consumption. The U.S. Department of Energy believes if current buildings were green-improved, they would use $20 billion less in energy per year. Green remodeling puts a strong emphasis on making homes as efficient as possible with modifications such as energy-efficient appliances and programmable thermostats. There are many sources that contribute to the air quality inside a home, including: pollutants brought in from the outside, toxic chemicals existing inside the home, and the activities of the occupants. Major contributors are tobacco smoke; smoke from the burning of wood, coal, kerosene or other such substances; toxic fumes from sealants or chemicals from cleaning products; lead paint; asbestos from insulation; damp carpets or fabrics; and certain pressed-wood furniture products that release chemicals into the air. Green remodeling seeks to remedy these problems with things such as better ventilation systems and using wood, paint, and sealants that are nontoxic. Reduced material waste and resource conservation. When remodeling a home, there is often a large amount of construction waste. Because 85 - 90% of those materials can be recycled, green remodeling focuses on reducing this waste during remodeling and reusing materials whenever possible. Some of the methods are using local materials, building with engineered lumber, and using recycling companies to remove waste are all ways this can be achieved during remodeling.

The benefits of green remodeling include:
-Reduces operating costs by increasing efficiency
- Conserves natural resources
- Non Toxic paints and sealants
- Improves indoor air quality
- Reduces waste
 

2:07 PM - Sep. 1, 2009 - comments {0} - post comment

Making your lawn look good

hese ideas are from Briggs & Stratton - makers of lawn mowing equipment.

With record low mortgage rates, expanded FHA loans and tax credit incentives, many Americans have plunged into first-time home ownership. In fact, the National Association of Realtors reports that first-time buyers accounted for 29 percent of existing home sales in the last month. But while taking advantage of the current incentives, many first-time buyers don’t think of everything that comes along with home ownership - including how to take care of their yard so they remain rightfully proud of their new castle.

Briggs & Stratton Corp., a leading manufacturer of lawn mower engines, offers these lawn care tips for even the most challenged green thumb.

Choose the right mower.
Purchase a mower with a quality engine. Elements to consider are torque, emissions and ease in starting. Briggs & Stratton engines are found in eight of the top 10 selling lawn mowers brands. To understand more about why engines make a difference, visit www.enginesmatter.com.

Never cut more than one-third of the grass blade during any one mowing.
By following this rule, the remaining two-thirds of the plant will develop deep roots and spread out, eventually creating a dense, healthy turf. Using this technique, of course, means shorter intervals between mowings during high growth times, but a healthy lawn is the best medicine for preventing weeds and disease.

Alternate your mowing pattern.
Try not to follow the same path each time you mow. Think of a clock. Start at the 12 o’clock position and mow to the 6 o’clock position. The next time you mow, begin at the 9 o’clock position and mow to the to 3 o’clock position. The third time, mow from 1 o’clock to 7 o’clock, etc. Changing the mowing pattern every time you mow will keep the turf and soil from compacting and prevent wheel patterns in your lawn.

Water early in the day.
Watering between 4 and 9 a.m. helps ensure that the sun won’t rob moisture from your lawn. It also gives your lawn the best chance to dry in the morning. Wet grass at night can lead to disease. Most lawns need about 1-2 inches of water a week to stay healthy.

Avoid a fertilizer overdose.
Even good medicine causes harm when used improperly, so avoid doubling the recommended rates of fertilizer as well as seed, herbicide, insecticide, etc. One pound of water-soluble nitrogen per 1,000 square feet is the maximum amount established lawns should receive at one time.

1:45 PM - Aug. 30, 2009 - comments {0} - post comment

5 ways to raise your credit score

Purchasing a home can feel overwhelming for buyers no matter how many times they've been through the process. And today, your credit score is more important than ever when it comes to your ability to buy the home you really want. If you are looking to improve your credit score, now is the perfect time to get started. Here are some great strategies you can utilize right away to give your score a little boost. And check out the accompanying video with Linda Ferrari from Credit Resource Corporation for even more details.

Create Some Balance: While paying down installment debt (car, school, mortgage, etc.) will definitely boost your credit score, paying down or paying off revolving debt, such as credit cards, can cause a quick jump in your credit score. The trick is to get and keep your balances below 30% of your credit limit on each card. For faster results, attack those cards with balances closer to their respective credit limits first, as opposed to those cards with simply the highest debt. Remember, if you pay off any credit cards completely, do not close your accounts without discussing it with your mortgage professional first. Cancelling those cards may inadvertently undo all of your hard work.

Know Your Limits: Make sure that your credit card issuers are reporting the correct limits on your accounts to the three major credit bureaus. Without an available limit, your account will appear to be maxed out at its highest reported balance each month. This could cost you up to 80 points in certain instances. Some creditors, such as American Express® and certain cards issued by Capital One®, actually have a policy of not reporting available credit. However, most companies will report your credit limits if you ask them in writing.

Take Some Credit: If you have a credit card account in very good standing, make sure that all three credit bureaus know about it. Just like your credit limits, some creditors don't report your information to all three credit companies – this is why credit scores often vary between bureaus. If this is the case, give them a call to find out why. Correcting this oversight could provide a significant boost to your score. Also, if you're in very good standing, ask your creditor for a lower rate or higher credit limit. This will increase the gap in the debt you owe versus the credit you have available. Sometimes hinting about closing an account can suddenly bring out the generous spirit of certain card issuers. Give it a try. The worst they can say is no.

Protect Your Interests: Your credit is calculated based solely on the information available to your creditors. If you have a HELOC, make sure it's listed as a mortgage or an installment account on your credit reports and not a revolving debt. If you had a bankruptcy, be sure that all items associated with the bankruptcy are being reported correctly, that is with a zero balance. This action could increase your score by 50-100 points. Because simple mistakes like these can wreak havoc on your credit score, it's important to monitor your credit every four to six months.

Even the Score: If you find information on your credit report that you believe is inaccurate or incomplete, then you have the right to dispute it free of charge. For the fastest results, visit the appropriate credit bureau's website and file a complaint online. If supporting documents are necessary, you have to file your dispute by mail.

With just a little bit of effort, you could be well on your way to a higher credit score...and to owning the home of your dreams!

7:00 PM - Aug. 28, 2009 - comments {0} - post comment

Important dates for home buyers

There's no place like home," so the famous saying from The Wizard of Oz goes. And this year, that saying applies to many new home owners, as first-time home buyers (FTHBs) have accounted for 53% of total residential real estate purchases during parts of 2009. For those of you who have already bought a home, congratulations. For those of you still waiting, this is a call to action: It's time to get moving.

While it's true that the best environment home buyers have ever seen may have been from January to late May of this year, outstanding opportunities still exist for those who act soon. If you are planning to buy a home, there are important dates on the calendar that you need to take note of so you can act accordingly. These dates represent money-saving opportunities for consumers.

We May Never See Rates This Low Again
Beginning in late November last year, 30-year fixed rates plunged into the mid 4.0% range. So what prompted this precipitous decline? The Federal Reserve announced that they would start purchasing mortgage backed securities (MBS) issued by Fannie Mae, Freddie Mac and Ginnie Mae. The Fed made this decision because there was a lack of liquidity and buyers in the fixed income securities market. By becoming a buyer for the securities that determine interest rates, the Fed helped lower rates to stimulate the economy by absorbing supply not picked up by others in the markets.

Following the announcement by the Federal Reserve, home loan rates immediately responded, falling a full percentage point. When the buying started, home loan rates fell even more, sparking a frenzy in refinancing and buyers seeking financing.

However...and here's what you need to note...this program implemented by the Federal Reserve has a deadline! That deadline is December 31, 2009. And as the Federal Reserve has been the primary buyer for MBS, purchasing up to 85% of all MBS since March, the impact to rates when the program ends could be as dramatic as when the program was announced. This means that interest rates could conceivably rise to well above 6.00%.

In the month leading up to the announcement, interest rates had been exceptionally volatile, peaking on some days near 7.00% for a 30-year fixed rate loan with no points and fees. This kind of volatility often happens when investors are reluctant to purchase MBS and trading volumes in securities are light, causing rates to rise quickly if investors demand a higher return for their investment.

While the final impact to interest rates will have to play itself out, one thing is certain: without the Federal Reserve as a primary buyer of MBS, home loan rates could be primed for a spike if other investors do not pick up the slack that could result in 2010.

It is unlikely that interest rates will return to the sub-5.0% range again this year. Why? The purchase and refinance mortgages that have already occurred this year were packaged into Mortgage Backed Securities after they closed and were sold on the secondary markets. This added supply to the markets and the new Bonds simply outweighed what the Fed had allocated to buy. Still, the Fed's program is helping slow down the rate increases we are seeing...but remember; their program is due to end on December 31. That's why now could mark the lowest rates that will be seen for some time to come.

Would You Like $8,000? Buy a Home. Soon!
To stimulate the economy, Washington juiced up the stimulus plan passed last year in February. Two benefits for FTHBs were that the amount of the tax credit was increased from up to $7,500 to $8,000. And, more importantly, the amount of the credit does not have to be repaid!

To qualify for the credit the individuals buying a home cannot have owned a home in the last three years. So, while the credit is discussed as a credit for first-time buyers, anyone who has not owned a home in the last three years is eligible.

There are income limitations to fully qualify but they are quite liberal. Single tax filers earning up to $75,000 and joint filers earning up to $150,000 based on modified adjusted gross income can earn the full credit. A partial credit is available for those earning up to $95,000 and $170,000 respectively.

The amount of the tax credit is based on a percentage of the price of the home, specifically 10% of the purchase price, up to $8,000. This means if someone purchases a home for $70,000 their credit would be $7,000 and if the amount of the home purchased is $100,000, the credit would max out at $8,000.

Note! The deadline to take advantage of this opportunity is November 30, 2009. Close in December, and you just lost $8,000.

Homes Have Never Been More Affordable
FTHBs are leading the way, taking advantage of one of the best home buying opportunities ever, providing support for the real estate market. As indicated earlier, FTHBs have accounted for as much as 53% of purchases for any month this year.

Who can blame them? In short, no one. Home prices have fallen to levels not seen in years and interest rates hit their lowest point ever. This combination led to the highest home affordability ever recorded.

The National Association of Realtors® tracks what is known as the Home Affordability Index. The Home Affordability Index is arrived at as a function of both median home prices, available interest rates, and median family income.

The index represents the amount of monthly income that is required to pay a mortgage payment. In 2005, approximately 23.3% of a family's monthly income was required to carry a mortgage payment. With falling home prices and interest rates, the percentage of monthly income required to pay a mortgage payment is now approximately 15%.

This means that for a family at the median income level purchasing a home priced at the median income level, the monthly mortgage payment has declined nearly 36%! This is great news for anyone shopping for a home today.

Get Busy, Time is Short!
In order to take advantage of both the available tax credit and low interest rates, anyone going into contract should strive to have their purchase agreement not later than mid-October. This will allow some time cushion in the event anything pops up in the purchase process and still allow for closing in time to take advantage of the available tax credit.

Home prices have fallen to levels not seen since the start of the decade in many parts of the country, interest rates are still near all time lows, and the availability of free money from the IRS all mean that the time to act is now. It is always easy to look back and identify times people should have acted, and this could well be one of those times people will look back and say, "Wow, I should have bought a home in 2009!"

6:57 PM - Aug. 26, 2009 - comments {0} - post comment

Selling your home in a foreclosure driven market

This article is by Relocation.com

For home owners contemplating selling their homes in the current market, Relocation.com, a leading online consumer resource for moving services, offers several tips to help sellers maximize the final sale price, get the home sold quickly and move on to their new home. While many factors come into play with finding the right buyer at the right time, there are many things sellers can do to help put the odds in their favor.

“Despite the tough economic times, people who want to sell their homes don’t have to wave a white flag in surrender. Relocation.com wants to help educate consumers about the selling process so that they can make smart decisions about moving to a new home,” said Sharon (Ron) Asher, chairman and founder, Relocation.com. “With these sales strategies, consumers can get their homes sold and on to moving into their new residences.”

Tips for Selling a Home in Today’s Market

1. Do not overprice the home. Buyers today are looking for a bargain, and the seller in the end will likely have to bring the price down to meet market demands. The longer the home sits on the market, the stronger the negotiating position of the buyer.

2. Select Internet-friendly pricing. More than 80% of home buyers begin their real estate searches online. Most real estate sites filter the prices in $25,000 to $50,000 increments. So while a creative price of $555,777 may grab attention, buyers who set their search maximum filter at $550,000 will exclude it. Additionally, prices ending in 000 (such as $500,000) tend to sell at a larger discount than homes ending in 500 (such as $524,500).

3. List the home on a Friday. Most buyers are checking out new listings on Fridays so they can see what is new for the weekend.

4. Occupy or stage the home. Buyers appreciate a home that is well attended. A vacant home typically feels cold and empty, while one that is still occupied has a warm, cozy feel, attracting more buyers. However, keep the personalization minimal; having neutral decor and paint colors will make it easier for a buyer to visualize their own style in the home. If a seller moves to a new residence before selling the old residence, it is a good idea to have the home professionally staged as if someone still lives in it.

5. Monitor local foreclosures. Foreclosures are costing sellers money and have become very aggressive opponents in today’s market. If the seller’s neighborhood has a lot of foreclosures, wait until they are sold before listing the home, if at all possible. Most banks are extremely eager to sell, thus creating an underpriced competitor. If the seller cannot wait to list the home, it will need to be priced competitively with the foreclosures, which can dig significantly into the home’s equity.

6. Keep the home neat and clean. With so many foreclosures on the market today, buyers are seeing homes at their worst. If the home is presented in the best possible way, it will attract more positive attention.

7. Keep records. Foreclosures do not come with any disclosures. Sellers who keep updated records, photos and permits handy for the buyer to review will make them feel much more confident about buying the home, giving the seller a competitive advantage over foreclosed properties in the neighborhood.

6:46 PM - Aug. 24, 2009 - comments {0} - post comment

Navigating today's markets

This article is by theCMPS Institute.

”There are five distinct strategies that can help home owners, buyers, and sellers successfully navigate today’s turbulent mortgage and housing markets,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers.

1. Understand and Utilize the New Tax Credits. Many home owners are not aware that the latest government stimulus package gives them a special tax credit of up to $1,500 for making certain home improvements. Also, if you are buying a primary home and you have not owned a primary residence in the last 3 years, you may qualify for the new $8,000 first-time-homebuyer tax credit. “Although you can’t use the credit to help with your down payment, the credit can be claimed on your 2008 tax returns if you buy the home in 2009,” Nicholas said. “This means that even if you buy the home after you file your taxes on April 15, you can simply file an amended 2008 tax return and the IRS will send you a refund check for $8,000.”

2. Consider Paying Points for Your Mortgage Transaction. Mortgage “points” are upfront fees that you pay in order to lower your mortgage interest rate. One point is equal to 1% of the loan amount. “In the past, it almost never made sense to pay points in most situations where you were refinancing your mortgage,” Nicholas said. “However, enormous changes have taken place in the mortgage securitization process. Wall Street investors are demanding higher upfront fees for borrowers with credit scores below 740, and mortgage lenders don’t have as much flexibility when pricing loans. This means that the interest rate savings can be very significant when you pay upfront points.”

“If you are buying a home, negotiate into your purchase contract for the seller to pay points on your behalf,” Nicholas said. “In addition to the significant interest and payment savings you will enjoy, you will also receive a tax deduction this year for points paid by the seller on your behalf. If you are selling a home, offer to pay points for potential buyers as part of your marketing efforts. This will make your home more affordable for potential buyers and help your listing stand out from the glut of available inventory in today’s market.”

3. Carefully Structure Your Real Estate Short Sale Transaction. A real estate short sale is when a home owner sells their property for less than what they owe on the mortgage, and the lender gives their permission to do this by forgiving the difference and/or releasing the mortgage lien on the property. “Short sales are very common in many markets because of negative home owner equity due to the steep decline in house values,” Nicholas said.

“If you are selling your home as part of a short sale transaction, make sure to negotiate for a release and full satisfaction of the mortgage from your lender. Depending on the laws of your state and your individual circumstances, lenders may be able to wait a year or two for you to improve your financial situation, and then file a deficiency judgment against you to try and recover the money that you still owe them. The only way for you to avoid this risk is to have the lender not only release the mortgage lien, but also agree in writing to a full satisfaction of the mortgage.”

If you are a buying a home as part of a short sale, Nicholas advises you to take steps to make sure the deal is closeable. “It is estimated that approximately 30% of short sale listings are not closeable deals because the lender simply won’t approve it. In most of these cases that aren’t closeable, the first or second mortgage lender is expecting home sellers that have money to contribute something to the deal. One way to avoid getting caught up in the middle of this is to have your Realtor verify the status of the seller’s hardship package with their lender.”

4. Utilize the Special Options Available for Seniors Age 62 or Older. “If you are 62 or older, you could use a reverse mortgage to buy a new home without making any monthly mortgage payments,” Nicholas said. “This is a fantastic opportunity if you are contemplating a move but are worried about trying to sell your current home into a down market. Additionally, reverse mortgages can be used to supplement your retirement income that may be declining due to unfavorable economic or financial market conditions.”

5. Carefully Interview Your Mortgage Professional. With all the noise, confusion, fear and misinformation in today’s market, it is more important than ever for you to work with a Certified Mortgage Planning Specialist who has the training and experience to guide you through the home buying or refinancing process. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way.

6:42 PM - Aug. 22, 2009 - comments {0} - post comment

Who does your inspection belong to?

This article is by Carl Brahe, owner of Inspection Perfection

The current economic environment has caused business to go two ways with customer service. It has gotten really good or really bad. In many retail establishments every customer brings multiple employees offering help where a year ago it was nearly impossible to find an employee, and even harder to find one who was willing to help. In other businesses customer service has become totally nonexistent.  

The same situation is occurring with property inspections. Stories of cut-rate, low quality inspections are common. In one instance an inspector quoted a low rate, but showed up without a camera. When asked about pictures he informed his client that photos were $100 extra. For the extra fee he  took pictures using a cell phone. I observed an inspector conducting an inspection without a tool belt or box, no camera nor computer. His only tools seemed to be a clip board and a flashlight. Other inspectors are working extra hard to please clients.

A Denver area real estate agent relates: “I had an instance of an Inspector (chosen by the buyer) who arrived at the residence and after the client spent about 20 minutes shadowing his inspection and asking specific questions about some questionable aspects of the home, he asked if she would leave him alone and wait for his report.  A first time buyer and intimidated by the thought that some serious things could be wrong with the property, she did what she was told. 

When it came to obtaining the report, we waited a few days and the Inspector faxed one copy to the buyer.  When the buyer and I called to have him explain a few things, he was too busy.  When I called to request my own copy, I was told that he didn't keep his records and I'd have to get it from the buyer.  Subsequently, issues with leaks in the water pipes had to be discovered and resolved late enough into the process that the buyer's earnest money was at stake.”

There are many articles to guide residential and commercial buyers in hiring an inspector. In practice, they tend to find you the best salesperson, not the best inspector. All have lists of questions to ask potential inspectors; questions about education, background, experience, but they never suggest the most important question of all. The question never asked is: “Who do you work for?”

Many answers to this question might be offered. Ask anyone who provides you with goods or services, and almost no one will give the only correct answer: “I work for you.” All economic activity occurs because a person or company has a need or desire and sufficient economic power to pay for it. All workers in all phases of all design, production, promotion, delivery and service work for the end consumer. The simple fact of economics is: All economic activity exists to serve the consumer.

6:22 PM - Aug. 20, 2009 - comments {0} - post comment

Have we reached bottom yet?

This article is by The Appraisal Institute

Historically, the value of real estate goes through cycles. Many factors affect the value of homes including the laws of “supply and demand.” From the Appraisal Institute, here’s a quick reference guide to some of the factors involved and advice on how to spot a turning point in the market:

1. A spike in local sales activity. A spike refers to a significant rise in the number of home sales (or values) in a local market area, which generally is measured month to month. A spike does not necessarily mean continued growth, i.e. it could be a one month phenomenon.

2. Higher asking and selling prices vs. appraisal value opinions for residential properties. Appraisers study the markets; they do not make the markets. When the data shows higher sale prices in comparable properties market value opinions will increase proportionally. Appraisers seek evidence of value but do not create the value. In time periods with low activity, evidence of any kind is difficult to find.

3. More activity at open houses. Open houses with five to eight attendees is considered average, so a dozen or more people attending an open house means buyer interest is picking up. Also, the mood of the attendees is important. Are they optimist and upbeat? Buyers interest alone does not always translate to effective purchasing power. If the number of buyers in the market increases but they do not have requisite down payments, the sales may still not occur.

4. Shorter marketing times. In some markets, houses have been up for sale for more than a year. In most balanced residential markets, properties that are priced competitively will typically sell in less than six months. If the Days On Market (DOM) is shortening, many practitioners will read an improvement in the market.

5. Reduced number of foreclosures and short sales. A reduction in these transactions commonly signals a more balanced market. If lenders are reluctant to foreclose because of an oversupply of inventory, they may choose to wait to repossess the properties, which could allow a spike in the number of foreclosures later despite a better market condition.

6. Stabilized employment. Stable or increasing employment rates provide the necessary confidence for potential buyers to invest in a home. Since most buyers rely on borrowed funds to make real estate purchases and borrowing money usually requires a source of repayment and that usually means jobs, an increase in this basic need, will enable more real estate sales.

7. Fewer buyer incentives and seller concessions. Seller-paid incentives or concessions are a sign of seller motivation. If there are fewer builders offering “free” upgrades and fewer sellers sweetening the deal with big screen TVs, it may be a sign of lessening supply and therefore a better market.

8. New construction starts. Most builders are quite attune to their markets and will not build new homes without a corresponding contract for sale or a perceived increase in demand. An increase in the number of building permits usually indicates higher demand and higher prices. If residential properties are selling for 25% less than they cost to build, only a few new homes will be built. It would be prudent to buy an existing home rather than build a new one for a much higher price.

9. “Move-up” buyers entering the market. More buyers willing to move to a larger or superior quality home indicates a healthy market. The lack of buyers at the lower end of the price range will have a chain reaction throughout the market. If a buyer for a high priced home has a lower priced home to sell first, the sale of the higher priced home may have to occur before the higher priced one can sell.

10. Apartments advertising renter specials - fewer renters in the market may indicate more people are moving into owner occupied homes or it could indicate a reduction in population. Lower population will cause an oversupply of housing which will oftentimes permeate throughout several markets.

6:40 PM - Aug. 18, 2009 - comments {0} - post comment

Moving scams

This article is by Sharon Asher at relocation.com

With millions of Americans moving this summer-the busiest part of the moving season-it bears repeating: beware of unscrupulous moving companies. Relocation.com, the leading online consumer resource for moving services, identified some of the less familiar tricks to avoid and offers guidelines to prevent getting taken.

“The majority of moving companies are solid, trustworthy companies. But like any product or service you buy, it’s the handful of bad ones that should keep consumers on their toes,” says Sharon (Ron) Asher, chairman and founder of Relocation.com. “Our goal at Relocation.com is to help people have an easy, stress-free move, and part of that is helping them be aware of any issues they might face when dealing with moving companies.”

The standard warnings apply: don’t accept a “low-ball” estimate, make sure the moving company is licensed, check Better Business Bureau (BBB) reports and reviews, and insist on an in-home moving estimate.

However, Relocation.com has some of the less well-known practices that a few moving companies use to separate consumers from their hard-earned dollars.

1. The “Guaranteed” Moving Quote. Most people rightly insist on getting a “binding estimate,” which is often referred to as a “guaranteed moving quote.” This estimate ensures that the customer pays no more than the quoted amount, and can actually pay less if the estimate was too high.

That “guaranteed” quote is only good for the inventory that the moving company uses to come up with the estimate. If that inventory is wrong - whether on purpose or not - the “guaranteed moving quote” becomes void, and a new rate will need to be negotiated with the moving company (on moving day, no less).

How to Avoid the Scam: “After the moving estimator compiles the inventory during the in-home visual estimate, double-check the inventory to ensure that it includes everything you need to have moved,” says Asher. “Many people don’t even look at it.”

Additionally, don’t try to add extra items to the move after receiving an estimate; this will void the estimate and incur additional fees.

2. Packing Pratfalls. Many people choose to pack their belongings themselves to save money. However, crafty moving companies may see this as an opportunity to add unnecessary charges on moving day. There might be a few extra items that the moving company wants to go into boxes, or they insist that some of the boxes need extra tape that they charge much more for than the actual cost. Another scam is the half-filled box - the mover takes a box, puts just a few items in the bottom and fills the rest of the box with packing paper. All of a sudden, an extra $100 in packing costs is tacked onto the final moving bill.

How to Avoid the Scam: Make sure the estimate details all the charges for extra packing material from the moving company. Knowing the prices in advance may be extra motivation to make sure that every item that should be packed before moving day is indeed securely taped and packed. Also, consumers should be sure to closely monitor the movers during the process, and make sure the manager is aware.

“The more consumers communicate and work with their movers, the better the move they will have overall,” says Asher.

3. The Move Size: Cubic Feet or Weight? When estimating the size of the move, some moving companies use cubic feet instead of weight. For many consumers, trying to envision all their belongings in terms of cubic feet is often downright confusing.

Why do they use cubic feet instead of weight? For an estimate based on weight, the moving company must go to a certified weighing station to see how much the inventory weighs - and that scale doesn’t lie. With cubic feet, the moving company measures the final move by the amount of space everything takes up in the truck. This gives the moving company sizeable “wiggle room” - literally - to load up the truck improperly, with lots of empty spaces. The moving estimate becomes much higher because the estimated cubic foot load is much lower than the final load in the poorly packed truck.

How to Avoid the Scam: “Insist on a moving quote based on weight,” says Asher. “And if the party being moved has concerns that there might be issues when the moving company weighs the load, tag along with the movers to the scales - consumers have the right to do this and should feel entirely comfortable asking.”

2:00 PM - Aug. 16, 2009 - comments {2} - post comment

What is title insurance and who pays for it?

this article is by Todd Foust who is the chief marketing executive for the FOUST Team at C21 Discovery; one of the top-selling real estate teams in Southern California

When it comes to real estate, we all know by now that things are not as simple as finding the home of your dreams and going on with your life.

Real estate comes with some strange procedures, terms, and lingo which can become very overwhelming to consumers. Despite the potential for confusion, there are some questions that they absolutely should be asking, particularly about the subjects of title and title insurance.

We have found that obtaining answers to these questions will help alleviate much of the normal home buying anxiety. With this in mind, here are the 3 best title insurance questions consumers should be asking, and the typical answers we would give.

Top Question #1 - What is Title?

Our Answer: The word "title," obviously, can mean a number of things. In real estate, when you hear "title," it is referring to one's right to ownership, or any form of evidence of land ownership. Simply put, you need to know is that having title means you have the rights to that land.

Top Question #2 - What is Title Insurance and Why Do I Need It?

Our Answer: Title insurance is a protection mechanism that will protect you against any kind of damage caused by a defect in the title. In California, for example, a standard title insurance policy will protect against things such as forgery, impersonation, and the expenses incurred in defending the title. Title insurance not only verifies ownership, it will also detect any possible "clouds" on your title. Clouds could be in the form of IRS claims, liens, or other uncertainties of ownership.

Speaking in more detail, consumers should know there are two different title insurance policies issued in every real estate sale. The first type is an owner's policy, which will protect the new owner from any ensuing claims to the property. The second type is a lender's policy, which will protect the lender against loss of an unpaid loan balance in the event of a claim.

Title insurance policies are important because they protect against possible non-recorded claims against your property and ensure free and clear ownership. As such, these policies benefit consumers in establishing safety and security in owning real estate.

Top Question #3 - Who Pays for Title Insurance?

Our Answer: Although there is not just one way to pay for title, one method stands out as the most common. As mentioned before, there are two types of policies: a lender's policy and an owner's policy. As far as the lender's policy goes, it is usually paid for by the actual buyer of the real estate. The owner's policy on the other hand is paid for by the seller of the real estate. Of course in real estate, almost everything is negotiable, but this is typically the way the policies are paid.

1:56 PM - Aug. 14, 2009 - comments {0} - post comment

What was your name again?

Tips for Improving Memory

Have you ever been introduced to someone, only to forget her name two seconds after you shake her hand?

Don't worry. This is NOT evidence that you're losing your mind. Turns out, it's actually an extremely common occurrence for many people. The good news is there is plenty of research on the subject and there are a number of simple, practical steps you can take to improve your memory now and long into the future.

With that in mind, here are a couple of great tips for proactively strengthening your memory:

Tip #1: Neurobic Exercise

You know all about the wonderful effects aerobic exercise has on the heart, but have you heard of neurobic exercise for the brain?

According to Lawrence Katz, co-author of Keep Your Brain Alive: 83 Neurobic Exercises, the best exercise for the brain is to force it to form "new patterns of association" or new pathways. In other words, challenge your brain every day. take it off autopilot and make it relearn or create new associations with the most routine activities of your day.

Katz's book offers numerous examples of small changes you can make to activate your brain, including: brushing your teeth with the other hand; taking an alternative route to work; moving your wastebasket to the other side of your desk; closing your eyes while putting your key in and unlocking the front door; and changing where you and your family members sit at the dinner table.

So if you feel like your memory might be starting to slip a bit, try some of these simple neurobic exercises today!

Tip #2: Mnemonic Drilling

There are actually three steps or stages of memorization: acquisition, consolidation, and retrieval. That means, once we acquire new information, like someone's name for instance, the way in which we consolidate that data will directly affect how well we're able to retrieve it from memory.

Whether you're a visual or auditory type of learner, there are many mnemonic devices that can help you to better organize or consolidate the new information that you need to recall.

Here's an example of simple steps that might help:

First, associate the data you want to remember with common images. For instance, let's say you meet someone named Jennifer Green. Imagine Jennifer playing golf, or picture her wearing all green clothes, or imagine her face painted completely green.

Second, think of associations you can use to help you remember this person. For instance, link Jennifer to the quality that best fits her personality (use alliteration and rhymes whenever possible): Jolly Jennifer Green.

Finally, connect sound to your memory by saying the name aloud.

Do this regularly and, before you know it, you'll never forget anyone's name again!

1:50 PM - Aug. 12, 2009 - comments {0} - post comment

Ways to tell if the market is changing

This article is from The Appraisal Institute.

Historically, the value of real estate goes through cycles. Many factors affect the value of homes including the laws of “supply and demand.” From the Appraisal Institute, here’s a quick reference guide to some of the factors involved and advice on how to spot a turning point in the market:

1. A spike in local sales activity. A spike refers to a significant rise in the number of home sales (or values) in a local market area, which generally is measured month to month. A spike does not necessarily mean continued growth, i.e. it could be a one month phenomenon.

2. Higher asking and selling prices vs. appraisal value opinions for residential properties. Appraisers study the markets; they do not make the markets. When the data shows higher sale prices in comparable properties market value opinions will increase proportionally. Appraisers seek evidence of value but do not create the value. In time periods with low activity, evidence of any kind is difficult to find.

3. More activity at open houses. Open houses with five to eight attendees is considered average, so a dozen or more people attending an open house means buyer interest is picking up. Also, the mood of the attendees is important. Are they optimist and upbeat? Buyers interest alone does not always translate to effective purchasing power. If the number of buyers in the market increases but they do not have requisite down payments, the sales may still not occur.

4. Shorter marketing times. In some markets, houses have been up for sale for more than a year. In most balanced residential markets, properties that are priced competitively will typically sell in less than six months. If the Days On Market (DOM) is shortening, many practitioners will read an improvement in the market.

5. Reduced number of foreclosures and short sales. A reduction in these transactions commonly signals a more balanced market. If lenders are reluctant to foreclose because of an oversupply of inventory, they may choose to wait to repossess the properties, which could allow a spike in the number of foreclosures later despite a better market condition.

6. Stabilized employment. Stable or increasing employment rates provide the necessary confidence for potential buyers to invest in a home. Since most buyers rely on borrowed funds to make real estate purchases and borrowing money usually requires a source of repayment and that usually means jobs, an increase in this basic need, will enable more real estate sales.

7. Fewer buyer incentives and seller concessions. Seller-paid incentives or concessions are a sign of seller motivation. If there are fewer builders offering “free” upgrades and fewer sellers sweetening the deal with big screen TVs, it may be a sign of lessening supply and therefore a better market.

8. New construction starts. Most builders are quite attune to their markets and will not build new homes without a corresponding contract for sale or a perceived increase in demand. An increase in the number of building permits usually indicates higher demand and higher prices. If residential properties are selling for 25% less than they cost to build, only a few new homes will be built. It would be prudent to buy an existing home rather than build a new one for a much higher price.

9. “Move-up” buyers entering the market. More buyers willing to move to a larger or superior quality home indicates a healthy market. The lack of buyers at the lower end of the price range will have a chain reaction throughout the market. If a buyer for a high priced home has a lower priced home to sell first, the sale of the higher priced home may have to occur before the higher priced one can sell.

10. Apartments advertising renter specials - fewer renters in the market may indicate more people are moving into owner occupied homes or it could indicate a reduction in population. Lower population will cause an oversupply of housing which will oftentimes permeate throughout several markets.

6:47 PM - Aug. 10, 2009 - comments {0} - post comment

Colorado Getaways

This summer, discover Colorado and soak in the breath-taking scenery as well as some local attractions. There are many great escapes in our backyard, including:

6:40 PM - Aug. 8, 2009 - comments {0} - post comment

Moving tips

When moving, many people are faced with weighing the options-should they hire movers or pack themselves? What are the benefits of doing either? What do most people forget when packing up and moving? How can you save money when moving? From FlatRate Movers, a nationwide leader in moving and storage, here are some tips to keep in mind:

• Order boxes and moving supplies early so you can start packing. Moving companies provide boxes that are purpose made and easily marked. If your moving company allows you to return unused boxes, order more than you think you’ll need, by 20%. Likewise, do not scrimp on tape. It is inexpensive and prevents boxes from splitting open. You need fresh felt tip pens for labeling. Use colored ready-stick labels to designate boxes to their respective rooms.

• Start a book about your upcoming move and keep it in one place. Create a “Move Book,” using a large noticeable notebook, to centralize all the important details of your move. It should contain any lists you make, including that of labeled boxes. Supplement this with a computer printout of box contents. E-mail this to yourself as a backup. You can also access it remotely.

• First, pack up what you don’t use. Items, such as books, you do not immediately need can be packed right away. Keep your list up to date. Do not make the boxes too heavy for a person to carry, and place heavier objects at the bottom.

• Document your media connections. Take photos of or make notes on how your media equipment is set up: television, sound equipment, modems and computer equipment. Keep track of your remote controls and wires so you can locate them quickly in your new home.

• Make arrangements for pets. Moving can be particularly stressful for animals. You may want to consider leaving them with a friend or retaining a professional pet boarding service.

• Plan to care for your valuables and vital documents yourself. Most homeowner’s insurance will not cover property in transit. It may be desirable to insure certain items separately. Remember to take photos in case you need documentation to support loss or damage claims. If the items are irreplaceable (family heirlooms) or complicated to replace (passports and birth certificates), carry them with you.

• Choose a good moving company. Good companies guide you through the process and minimize surprises on moving day. They have local knowledge and a proven track record, and they can also advise you on receiving building permissions. Moving companies have no incentive to create extra hours of work for themselves, if they work for a flat fee.

• Keep your moving receipts for income tax deductions. In many cases, moving expenses are deductible from federal income taxes. If you are moving because of a change in employment, you may be able to claim this deduction even if you do not itemize. Consult your tax preparer. Also note that there is an $8,000 tax credit for first-time home buyers in the economic stimulus plan, signed into law by President Obama. To learn more, visit www.federalhousingtaxcredit.com.

8:02 AM - Aug. 6, 2009 - comments {0} - post comment

Managing your schedule just got easier

Summer schedules always seem to be hectic. Between sporting events, graduation parties, weddings, family vacations and more, it can be hard to keep track of everything your family and friends will be doing this summer.

That's where a helpful little tool from Google™ - called Google Calendar - can come in handy. As with most of Google's applications, Google Calendar costs nothing and signing up is easy.

Getting Started

Just log on to Google.com/calendar and create a free account, which will take all of two minutes.

Once you've registered, organizing your schedule is only a few clicks away. If you're still apprehensive, take comfort in knowing that Google Calendar works like most personal scheduling programs, but with a few added perks.

More Than Just a Calendar

For starters, Google Calendar is fairly user-friendly, offering daily, weekly, and monthly views of your schedule. The program also offers the ability to create personal calendars for things like American holidays or birthdays. Any calendar you set up can be easily integrated with Google's email program, Gmail. This allows you to quickly add events mentioned in Gmail conversations as well as most other events you find online.

Google Calendar also gives you the ability to share your schedule with others and vice versa. Perfect for families on the go or business associates at opposite ends of the country, Google Calendar maintains your privacy by allowing you to pick and choose which events you want others to see. The program also allows you to plan and promote events by giving you the ability to send invitations as well as track RSVPs.

Perhaps the most exciting feature of Google Calendar is the options it gives you in terms of reminders. Whenever you schedule an important event, Google Calendar gives you the option to receive reminders via email, an online pop-up, or a text message on your cell phone!

Google Calendar also has a really great tool that allows you to search all of your calendars for specific information.

One other feature worth noting is called "Quick Add." This enables you to add events to your schedule simply by clicking a link and then typing in the relevant event information in "natural language" (i.e. Tom's party next Saturday at 8:00pm).

Finally, Google Calendar does integrate fairly well with most existing scheduling programs; however, it may require a little manipulation in some instances.

10:13 AM - Aug. 4, 2009 - comments {0} - post comment

Consider camping for you vacation

 This article is from YOU magazine.

9:56 AM - Aug. 2, 2009 - comments {0} - post comment

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