Wednesday, June 12, 2013

How Should You Arrange a Perfect Home Improvement Project?

Spending money for home improvement project is not only a matter of buying materials, drawing the design and then hiring a contractor to make everything runs perfectly. You should understand that there is something more essential than such thing. Improving your home will let you to play with your creativity and explore your idea, thus you can make the home as a representation of style, preference and personality. Definitely, budget is another important thing to think about. Spending money to bring the best design will make you see that your expense is a really worthy investment. In fact, people determine budget by using two methods. First, they make a list about the areas they want to improve and finally calculate the amount of money they should have spent. The second alternative is to determine the amount of money they have and make a list about the things they can do with such amount of money. Which one do you like best? Doing the project should be done carefully, thus you should make sure that you would have arranged the best preparation. If you want to have the great home improvement project but only have limited budget, try to get the loan. It is always important to learn more about terms and policies before deciding the best creditor you would work with. Some requirements will be asked by the creditor and you should fulfill them to get the approval for your loan proposal. If you are not really sure about your decision, it is great to ask your friends or family members who have ever taken the loan to support their project. The new design is the center point of the project. You should not sacrifice the health and environmental aspects. The design should be well-considered. What should you think properly? The electrical system, ventilation and the temperature inside your house are the essential matters. Try to give the great concern toward the basic aspects as the priority, and then you can talk about secondary things such as the style, color and some other things. If you hire someone to do the entire project, make sure to tell him or her about the project you wish to do. You can also consult with them about the best design which is suitable with your home condition. He or she will calculate everything and let you know about it. The great combination of your idea and the right calculation on everything will bring the great final result for your project. Partner Us Reviews of Car Insurance Companies Auto Owners Insurance Company payday loans

Small Business Interview - Patriot Express Loans to Veteran-Owned Businesses - Are They Working?

Editor's note. This is an excerpt from an interview with an SBA small business loan provider, relating to the program known as U.S. Patriot Express. This program is for business loans available to veteran-owned ventures (active duty service members, veterans, and their widows and spouses), whether start-ups or existing businesses. The purpose of this interview is to get a real, in the trenches, view of how the program works from someone who does it every day. Does it is really benefit our veterans? Excerpts of Interview US Patriot Express Loan Program Q. Greetings, and thank you for giving me the opportunity to speak with you. A. My pleasure. Q. I would like to begin by focusing on the U.S. Patriot Express Initiative Loan Program. Fancy title, but what is it exactly? A. It's a long winded way of saying the Bush Administration came up with a vet loan program for business owners. These are loans for veteran-own business owners. The funding comes from private lenders and banks that are licensed with the SBA. As an incentive for the lenders to make the loan, they are guaranteed for default, namely are reimbursed 85% of the value of loan. I have to tell you, this makes a big difference because it really motivates the lenders. It gets them off the dime and makes them more willing to open up their coffers. Q. So the money doesn't come directly from the VA or the Small Business Administration? A. Right. The VA isn't involved in loaning the money. However, they are huge supporters of the program. The SBA directly loans taxpayers monies only under its disaster program. In this program the SBA approves the lenders and guarantees the defaults. Private banks and lenders actually loan the veterans the money. Q. But it is called a SBA guaranteed loan program. Doesn't that mean the approvals would be guaranteed if you're a veteran? A. I wish that was the case. It's not the approvals that are guaranteed. If you make a small business loan and don't make your payments and it goes into default, the bank has to alert the Federal government and after taking various steps and attempting to collect, the bank will eventually get paid 85% of the loan value. The SBA guarantee acts like an insurance policy to the lender; they guarantee the 85% to the lender who makes the loan. Q. So the veteran doesn't get any special consideration in the approval loan process? A. By law, the lender has to use their usual, customary, and prudent credit review practices that are used for both conventional and SBA business loans. But let me cut right through all of this. It depends a lot on the lender. We are pro "veteran small businesses" and will try everything to make the loan. Way before this program became politically popular in June of 2007; we were making lots of loans to veterans and trying everything in our power to say "yes." They just have to meet us half way, with more positive than negative on personal credit. Q. OK, so far so good. Because of 85% guarantee, doesn't that mean the vet applicant only has to put up 15% collateral because the rest is secured by the guarantee? A. Unfortunately, it does not work that way. First, most of my small business loans are unsecured and so we don't even ask about collateral. You're not describing your equity in your house, the value of your trade fixtures, or anything else. There are simply no liens on property. For larger loans collateral will be required and in today's market, it will usually be real estate. Q. Do they check the personal or business credit of the applicant? I notice that there are a lot of online businesses that claim you can get business credit without using your personal social security number. Will that work in this case? A. Unfortunately, the lenders in most cases only check your personal credit report through Experian, TransUnion, or Equifax. There are companies out there that promise to get you a business credit card or unsecured small business loan only using your taxpayer ID number and not your social security number. Be careful. Although there are people who have been successful, there just as many who have failed doing so. And it takes a lot of time, because you have to create credit in the business name first and then make the bank application. Q. I'm an adult and you can tell me like it is. What is the minimum credit score required? A. These military loans are not like applying for a credit card. They rarely base the decision solely on your credit score. They look at the overall credit report. As to that report, they look at: 1) your credit paying history back seven to ten years, 2) the current status of your accounts, 3) the number of accounts, 4) the quality of the accounts . . .there's a big difference between a Capital One credit card and platinum American Express, 5) how long you have had the accounts, 6) matters of public record such as judgments and tax liens, 7) enquiries, and how 8) how high your credit card balances are. Q. Who can qualify for these loans? A. The good news is it applies to a lot of individuals. You can be a veteran, current active duty service personnel in the TAP program , service disabled vet, in the reserve component's or National Guard, or the spouse or widow of any of the above. And if you are the spouse of a veteran, you can apply in your own name. You do not have to be a combat veteran. All you need is your honorable discharge papers which are in the form of a DD 214. Q. Can any small business qualify? I mean, can it be everything from raising chickens to developing software for weapons control systems? A. It's funny you should say that, because I have done both of those. There are very few categories that make you ineligible, including multi-marketing, speculative real estate, gambling activities, your own private investments or self-owned real estate, to name some of the bigger exceptions. Q. All right, we have some of the basics under our belt. How much can you apply for? A. They go anywhere from $5,000 to $500,000. I specialize in the smaller Patriot Express ones from $5,000 to $50,000, which do not require any collateral. Above that will require security. In the good ol' days about a year ago, the bank's considered using your trade fixtures or business personal property. Then when the economy got worse, they started requiring some form of real estate equity. Now most of them are requiring 100% real estate equity, which is getting tougher in these times because the value of people's homes is falling. Q. Well that's easy. Since I am a vet, I want the full $50,000. A. I am with you, but remember you have to qualify for that amount, which is why you get to select how much money you would like to borrow and then all of the key components of our credit matrix system is matched to your request. We always try to loan you for the highest amount, but you must qualify for it. Q. What is this going to cost me? What are the monthly payments and interest rate? A. Although it is a tough time for credit, it is a great time for low payments. Currently a smaller Patriot Express loan is at a four year interest low of 7.75%, which equates to $60 per $5,000 borrowed. These are ten year fully amortized, principal and interest loans. Because there is no prepayment penalty, you can pay them off early and stop the interest. Q. So the payments can go up? A. The smaller unsecured loans are variable and not fixed. But because the payments are spread out over such a long period of time, as interest goes up, there is not a precipitous increase in the monthly payment. Historically, they started out six years ago at $89 per $5,000 borrowed and are now down to $60.00. Q. Under your Patriot Express Initiative loan program, do I have to put up the equity in my house or have liens on my business assets? A. Not at all. They are 100% unsecured small business loans. As a matter of fact, they don't even ask you to list or describe your assets. Q. I'm in the process of finishing my business plan. Can I submit the application without one? A. You can. It is not required. On the other hand, it helps. So I tell people if they are a couple of hours away from finishing their business plan, by all means do so. It is beneficial to have even if you do not apply for the loan. But if it is going to take you two or three weeks, don't sweat it, and simply send in the application. We can always work on the business plan later. Q. How long will this take, from start to finish? A. The larger loans take longer because there's more paperwork and more review required by the lenders. But the small ones I do are extremely quick. You can usually get answers within 24 hours and is wired into your business account within approximately ten days with the completed paperwork. We have special software that allows us to expedite the process. And, the program mandates a quick issuance of an SBA loan number from the central processing center -- so once everything is finished, you can usually get an SBA loan number within one or two days and then the money is wired. Q. Do most banks do these types of loans? A. Any bank that is already approved by the SBA is able to do these loans. But the sad fact is that most banks do not do them. I've even run into lenders who have never even heard of the program. They will simply run you through their application process without concentrating on the fact that you're a veteran. We are veteran friendly and encourage these applications. Q. Before this interview, I didn't really know what a patriot loan was. How come it has taken this long to hear about this loan? A. The plain fact is it is I run into veterans all the time that have never even heard of the program. What a shame. It is here for our military - and we need everyone to help get the word out. Q. If my credit is not very good, can I use a co-signer? A. Unfortunately no. On the other hand, anyone with a 20% or more interest in the business will fill out the application and have their credit checked. But bear in mind you have to have at least a 51% or more interest from veterans to qualify. Q. What happens if I have gone through bankruptcy? Have I shot myself in the foot? A. We have applicants all the time that have worked hard after bankruptcy and have their credit score in the high 600's. Some banks won't touch you but we will. We require that you conclude the bankruptcy, wait approximately 6 to 8 months after that to re-establish credit, and show that you're paying your bills absolutely on time after that. This means you can't go on an "all cash" basis because you must establish credit first and it has to show you are meeting your obligations on time. We give you one chance to make a mistake but after that you need to show you learned from the mistake. Q. Assume I pay my bills religiously on time, but I have high credit card payments. Will this hurt my chances? A. This has become a very big problem. We have lots of people who pay their bills absolutely on time, but have high credit limits. This is now a factor seriously considered by lenders. The more you have and the higher your limits, the more negatively it is considered. The only problem is that many businesses stay afloat only with their credit cards, and had no other options because the banks are not lending. Q. What about business financial statements and tax returns? A. This is definitely required on the larger loans, but not on the small ones. The paperwork is meant to be short and simple so they can be processed quickly. Q. Do you have to incorporate or form an LLC? A. Not all. You can be a sole proprietorship. The nature of the business is not one of the factors in making the credit decision. Q. I have a good credit score and do not want any more enquiries which bring down my score. Is there anything I can do? A. That is a definite problem. We have to pull your personal credit report it is mandatory. On the other hand, my staff can give you a general idea of your chances if we know your credit score. That way you'll not be disappointed. Q. Do you find that the vets you deal with like the program? A. They absolutely love it. For good reason, they have put their lives on the line and they feel entitled to a fair shake in starting or expanding their business. They are grateful there is a program out there for them. Q. You have any inside suggestions as to how person can increase their chances? A. Sure: The following really helps: 1) a business plan with financials. Financials are the most important part. But I also tell people that you're not trying to get an "A" on a term paper. Just do a good basic job and trying for a "C+". 2) Tell them exactly what you're going to be spending and on. Just saying that you needed it for cash flow doesn't quite make it. I had a case once where someone had a restaurant and were expanding their kitchen. They had spent weeks shopping around and gave a detailed list of the exact equipment, model numbers, and the pricing. This was very impressive and really helped them obtain a loan. 3) A well written letter accompanying the application that positively describes the market and your future plans. Please proof read it; a poorly written letter could back fire. Recently, we received one with fourteen typos in one sentence, that one is the winner! Q. Are some businesses considered more risky? A. Yes, but we are still able to fund them. For example restaurants and dry cleaners are considered more risky as a result of Federal studies. Q. Are you finding more people are inclined to go into business themselves as opposed to working for someone else? A. No question on that one. The days are gone when our adults are employed in factories, large corporations, and government offices, sometimes working for only one employer their whole career. There has been a massive unleashing of such persons because of our lack of jobs, and many of them are out in the private sector trying to start their own businesses. It's both sad and exciting at the same time. For this reason, the SBA must provide more loans to the 27 million small businesses that can fuel our economy. Q. Now let us talk real practicality. We are in a credit crunch like never before. How has this affected your success rate? A. You hit the nail on the head. We are definitely in a credit crunch, and I am seeing the lenders requiring better credit reports. Fortunately, we are not involved in the toxic sub-prime mortgage fiasco and have funds to loan. But remember they are supervised by the SBA and the big problem is the secondary market has shut down. Although this makes it more difficult, but we are still very veteran friendly and give special consideration to them. We continue to loan to veterans, several a day, and plan to do so in the future Q. Overall, how would you rate the program? A. It's a great and well-deserved program. If I were to improve it, I would increase the outreach so more veterans knew about it. Q. Thank you for your time. A. My pleasure. Partner Us Reviews of Car Insurance Companies Auto Owners Insurance Company payday loans

Learn How To Buy Commercial Properties The Easy Way - Become A Commercial Mortgage Broker!

What is the easiest way to learn how to buy commercial properties? By becoming a Commercial Mortgage Broker! Most people ask me what should I do, so that I can buy my first commercial property? It seems so simple to me...learn the rules of the game! So you ask, what benefit do I gain by becoming a commercial mortgage broker? Benefit #1 - Develop Relationships With Lenders Unless you have a ton of money, you will have to borrow money in order to buy commercial properties. Well what if you have a good working relationship with a lender? Do you think you will have a better chance of getting your loan approved? Yes! And not because you're breaking some rule or getting special treatment. It is because you would have worked with that lender. You will know exactly what property types they will lend on and at what terms. You will know what criteria they are looking for and what will "kill a deal". Because your clients will have different needs, you will need to know different programs. For instance, I have a lender that specializes in loans for apartments. I know that this lender has a program that will loan 90% LTV for borrowers with good credit on loan amounts less than $1,000,000. This same program allows unlimited cash out apartment refinances. Now I learned about this program to help a client obtain a Dallas apartment building. But do you think I could use this same program for my personal acquisitions? Do you think I have a good idea of the time involved in closing a loan with this particular lender? Also, as a result of working with borrowers, you will learn what properties you DON'T want to own! You are learning through the school of hard knocks but you aren't the one getting knocked! Benefit #2 - Develop Relationships With Other Professionals Just imagine if you have contacts in the commercial appraisal industry, contacts with commercial realtors and contacts with commercial property managers. Do you think this will help or hurt you when acquiring your own portfolio? If you don't know the answer, then let me tell you, that it will help you tremendously. It helps you learn how to judge the good ones from the bad ones. And these relationships are not restricted to your home town! You will develop a network across the country. The real "players" in the game of commercial property ownership (think Donald Trump) own properties across the U.S. Why? Because you go where the income property is...not waiting for the property to come to your home town. Benefit #3 - Earn The Money To Buy Commercial Properties Of course, nobody works for free. If you're providing a valuable service to clients by getting the best financing for their projects, then you deserve a fee. Commercial Mortgage Brokers can earn anywhere from 0.5 points to 3 points. Your fee is based on the complexity of the loan and the level of services you are providing. As an example, let's say you are helping a client obtain a loan for $1,000,000 for a 20 unit Atlanta apartment building. With your help, your client is able to get 90% financing. Your fee for this service is 2 points. At closing, you will be paid $20,000. Not bad. Now let's raise the bar. You have a client that wants to purchase a Phoenix shopping center for $10,000,000. He has poor credit but you're able to overcome this with your lender. Your fee for your services is 2 points. At closing, you will be paid $200,000! That is a nice payday! Now you're able to build your own portfolio of commercial properties with your earnings! Partner Us Reviews of Car Insurance Companies Auto Owners Insurance Company payday loans

Chase Loan Modification Application Process

Confused about how to begin the Chase loan modification application process? Time is not on your side, so stop worrying and get started. $75 billion dollars is waiting for qualified homeowners, make sure you get your share of the stimulus package. Don't feel overwhelmed, follow these easy steps to get started and apply to get the lower mortgage payment you need. The Chase loan modification process is getting easier. The lender has opened centers across the country that are staffed with personnel to help borrowers apply for a loan workout. The federal programs are being offered to homeowners who qualify, however, learning about what is required before completing your paperwork is the key to success. This is not the time to just "take a shot" at your application, you need to invest a couple hours of your time to learn and prepare before contacting the bank. You will be asked to complete a Chase loan modification application. You can use a generic form or you can get the bank's form on their website. These forms include your basic information like name, social security number, employment information, etc. You will also have to complete a budget or financial statement that details your income and expenses. Remember, the bank will review all the information you give them and they will make their decision based on what they see. Make sure you show them the right information, in the right format so that you have the best chance of qualifying. A Chase loss mitigation counselor will go over your application on the telephone with you. Make sure you have kept copies of all of your forms, and have them and your income documentation at your fingertips when you talk to them. This is not the time to be hesitating or blurting out the wrong thing-you need to be confident and prepared so you don't make any mistakes. When your family's home is on the line it just makes sense to be prepared and informed. Why wouldn't you invest a couple of hours of your time if it can make the difference between keeping your home or losing it? You can learn the basics and greatly increase your chances of getting the Chase loan modification you need and deserve. You can get the help you need to apply and qualify for a Chase loan modification. by ordering and downloading the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly. The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. Learn how to apply and qualify for the Obama federal program too. Get started today on the path to secure home ownership, order and download The Complete Loan Modification Guide. Partner Us Reviews of Car Insurance Companies Auto Owners Insurance Company payday loans

Friday, June 7, 2013

How Effective is an Open House for Home Sellers or Real Estate Investors?

Open houses help real estate agents and investors more than they help home sellers. In 2202, a survey by the Real Estate Center at Texas A & M University found that private open houses for other agents were more effective than public open houses. The agents surveyed thought public open houses troublesome, dangerous, and generally ineffective except for agents who needed to build a client base. The survey said "Although open houses are popular with sellers, they appear to be losing their appeal among agents. Sellers see the open house as an indication the agent is actively promoting the listing. Agents know, however, the odds are long that an open house will produce a buyer." A more recent survey conducted by The National Association of Realtors in 2005 found that open houses led to only 7 percent of all home sales. In their profile of Home Buyers and Sellers, the NAR, reported that 42% of home buyers found open houses to be "Very Useful" as an information source. In fact, 55 percent of home buyers do look at open houses to gather information. However, of the nine categories listed where buyers first learned about the home they purchased, open houses was not even mentioned. Findings include: Most people attending open houses are not serious buyers. Most open houses are held merely to appease sellers. Three out of four agents think open houses are effective in interesting buyers in homes other that than the one being shown. Agents also pick up new listings at open houses. Should you hold an open house to sell your home? Not many homes actually get sold because of an open house. You get a lot of looky-lou's and unqualified buyers. Sometimes, thieves look for easy targets by visiting open houses. However, if you list your home, your agent should hold a private open house for other agents to preview your property. Should real estate investors stage an open house? If open houses lead to 7 percent of all home sales, real estate investors should consider an open house. Stage an open house when you finish remodeling a fixer and invite all the neighbors. Often, neighbors know a friend or family member looking for a house. Make the open house an event and tell the neighbors to bring anyone looking for a new home. Stage the house with extra flowers and essential oil scents, play music, serve refreshments, and have your loan officer on hand to answer financing questions. To do this effectively, you need help. Ask friends or family to actively pick up after people and run a Swiffer around the floors. Request that home shoppers put on hospital booties to help keep the floors clean. Plus, people like the idea that you're picky about keeping the house immaculate. Even with all this work, the best outcome for you is meeting the neighbors in your target area and finding people who want to SELL their homes. Most houses sell on MLS. This is because agents are working with qualified buyers and watch the new listings. Agents like to show properties that are staged to sell. Partner Us Health and Fitness Computers and Technology Adventure Travel Music and Entertainment Leadership Improvement Financial stability Forex Forum News and Social Lifestyle Health Care information Health Insurance Plan car insurance online Personal Care Product Real Estate sites 21st Century Home improvement Contractors House Payday Loan Medical Health Insurance Bad Credit Personal Loans Wedding Ideas Finance Company 21st century toys Trusted Health Care Products Trusted Product Review Weddings Plan Business Solutions|Business Summit

12 Awesome Real Estate Negotiation Tips for Home Buyers

Negotiation can turn a bad deal into a good deal, turn an undesirable house into the perfect new home, and save you plenty of money. The final agreement between buyer and seller is key, providing a counterbalance to judge the entire value of your new home. Your buying agent will be skilled in negotiation, but there are some important things that you, as a buyer, can do on your own to make sure you get the best deal. Here are 12 tips: 1. Do your research Research is 90% of the negotiation process. Before you begin communicating with any agents or sellers, you should gather information on your own. Knowledge is power, and the more you can learn about the local pricing information and value of features (such as fireplace, views, utilities, location) the more leverage you will have during negotiation. Before you step out the door, buckle down and take some notes. You never know what information will come in handy during negotiation. 2. Set your boundaries in advance Sit down alone, without an agent, and run through your personal finances to determine your "absolute" spending limit. Check and double check your calculations, and have confidence in your boundaries. Your spending limit must be based on your finances, not the negotiation process. Once you have a clear figure in mind, set it as your firm limit, and don't budge. 3. Declare your comfortable spending limit Once you have your absolute limit, take off about 5-10% and call this your "comfortable" spending limit. This is the limit you should communicate to your agent so they can help you negotiate. Your agent is your friend, and they are motivated to get you the best deal, but they are also business people. Their main goal is to make a sale, and sometimes an agent has more incentive to sell quickly rather than hold out for the best price. Only let them know your comfortable limit, adding that you might be willing to spend more for an exceptional home at an unbeatable deal. 4. Get pre-approved Before you begin your search, get pre-approved for a home loan. If you're "ready to buy" you can get the attention of sellers itching to sell quickly. You'll move up on their priority list and this could help you gain leverage when negotiations begin. You'll come off as a no-nonsense buyer who's ready for action-if the deal is good enough. 5. Don't be emotional When looking at a new house, or talking with an agent, try not to appear overly emotional. Showing emotions can send subtle (or not so subtle) signals that you wouldn't necessarily want to convey. If you're seeing a new home and you're excited because it's just what you're looking for, appear "interested" rather than excited. Excitement, or any display of a lack of calm rationality, can be a sign that your spending limit might be as flexible as your feelings. Along the same lines, if you're unimpressed with a home, try to avoid criticizing it. Appearing too negative will send the message that you could be a pain to work with, or it could offend the seller. 6. Ask questions about every house you visit So you've found a house that you're interested in and you need to ask more questions, but you want to avoid coming off as "too" interested. How do you get the information you need while remaining aloof? The best way to not be obvious about your enthusiasm is to make sure you ask the same important questions at each house you visit. Make sure you come off as an inquisitive, diligent, and methodical buyer every time you view a house. When you find a house that excites you, you can gather all the information you need without tipping off the seller. 7. Learn about the seller The more information you have, the more power you have in negotiations. If you can learn specifics about the seller, you can gain insight into their needs and potentially gain precious leverage. Why are they selling? Are they desperate to sell fast, because their life has taken an unexpected turn? Are they in a good position to wait patiently for the best deal? What kind of a deal are they looking for, and how can you give them what they need while still getting what you need? The more you understand about their circumstances, the more you'll be able to spot where your expectations overlap with theirs. The best deals are found within the center of the Venn diagram. 8. Don't rush Many people fear that the house they want will get sold to another buyer before they have a chance to negotiate, so they feel that it's best to make an offer early. Many real estate experts agree that this worry is often unfounded. If you're interested in a house, the seller will know, and even if they have other offers, they will still have incentive to give each potential buyer proper consideration. Waiting to make an offer will always make the offer more valuable. Always wait a few days before making your initial offer. When you finally come around with your offer, the buyer will be relieved, and you'll find yourself in a stronger position. 9. Have a strong initial offer Many people underestimate the importance of an initial offer. Even though the final price will be determined through negotiation, the initial offer plays a huge role in informing the price. A good rule of thumb is to offer 20-30% lower than your comfortable spending limit. Keep in mind that if your offer is too low it can offend the seller, and if your offer is too high it will end up dramatically increasing the final price. When you make a low initial offer, always give the seller a good reason, such as the local market, your budget, or other factors in the home's value. This will show that you're basing your offer upon logic, and you're inviting further conversation. 10. Be reluctant to increase your offer Make sure the agent "convinces" you to increase your offer. Always be reluctant to increase, and only agree when a strong argument has been made. It never hurts to wait. Avoid accepting offers to meet halfway. The final sale price isn't decided by the splitting your offer with the seller's asking price. Both offers should be treated as stepping-stones on your path to the final sale price. Make sure to crawl your offer up slowly and carefully. 11. Keep a bargaining chip You'll be negotiating more than just a sale price. The terms of the agreement will determine things like move-in date, closing costs, inspections, included furniture and features, as well as other incentives. Early on in the negotiation, hold on to one aspect of the agreement that you don't necessarily need. Don't let on that the issue isn't important to you, but hold onto it as if it's necessary. Near the end of the negotiation, you can concede on the issue as a final bargaining chip. This will help give you one final push toward closing the deal. 12. Be confident, positive, and respectful Start off your search by reminding yourself that you're on the path to your perfect home. Have confidence in yourself and your ability to work within any situation, stay positive, and get what you need, no matter what unforeseen challenges come your way. Remembering that you're dealing with people, with families, and you're all about to make one of the most important decisions of your lives. A "good deal" isn't good unless everybody gets what they need. You're not just searching for a new home; you're searching for the perfect circumstance, the perfect deal. At the end of your path lies your new life. You'll help plenty of people along the way, and many people will help you. Make the best of your situation, and enjoy your new home! Partner Us Reviews of Car Insurance Companies Auto Owners Insurance Company payday loans

Your Home Is an Investment and a Liability

For years, homeowners have had pride in home-ownership. Lately, the American dream of home ownership has been threatened for many in our country. Here are some tips to help you maintain your greatest possession: Understand that your home is an important debt The biggest debt that most consumers have is their home loan. Your home is your castle. Hopefully, you didn't buy more castle than you can afford. You may have assumed that the value of your home would never drop. Maybe you were hoping that your income would increase so that you could afford the higher payments. Maybe you forgot to add in the cost of maintenance, insurance, and taxes on your house. For whatever reasons, many people fool themselves into buying more house than they can comfortably afford. Hang onto your home If you bought your home with an adjustable-rate mortgage (ARM), the interest rate on your loan may be resetting to a higher rate soon. If you have an ARM, make an appointment as soon as possible with your home loan provider. Assure them that you will work with them closely to keep your home. Get a printout of your reset mortgage estimate, including what your new monthly mortgage will be and when it will start. If the reset rate is higher, you will have to pay more each month to keep your home. Start preparing for this new expense immediately. If you have good credit and want to avoid the uncertainty of adjustable interest rates, you can try to refinance your home with a fixed interest rate. In a time of tight mortgage credit, however, this can be more difficult to do. If you need to refinance and you can't find a new loan, ask your lender for help. Document your efforts. Avoid foreclosure Many homes across the country go into foreclosure. If you are afraid that you can no longer pay your home mortgage, you may be facing foreclosure, too. Whatever you do, try to avoid foreclosure. Here are some online resources to help you prevent foreclosure: · (800-569-4287). HUD is the U.S. Department of Housing and Urban Development. This site lists HUD-certified credit and foreclosure prevention counseling agencies. · (888-331-3332). Project Sentinel is a local HUD-certified counseling agency. · (408-279-2600). Neighborhood Housing Services Silicon Valley is another local HUD-certified counseling agencies. · Mortgage Bankers Associations Home Loan Learning Center has information under Your Finances, then Foreclosure and Delinquency. · (888-995-HOPE). This is the site for Home ownership Preservation Foundation. Save on your property insurance You may be able to save on your property insurance. Property insurance companies often sell their client data to each other. If this happens to you, you could possibly be charged higher rates and offered lower coverage due to a previous claim. An "insurance score," similar to a credit score or rating, is often assigned without the client's knowledge. Save on your property taxes You may be able to save on your property taxes. If your home has dropped in value, you may be able to petition your county tax board to reassess your home and tax you at its current, lower value. File the request for reduction in your property tax assessment by contacting your county assessor's office. They will ask you a few simple questions such as your contact information, parcel number of your house, and your estimation of what the current value of your house might be. It's not necessary to hire someone to file the request for you. Partner Us Reviews of Car Insurance Companies Auto Owners Insurance Company payday loans

How to Make Sure Your Target Neighborhood is Safe When Buying Your First Home

As a new homeowner make absolutely sure your new neighborhood is as safe as can be. The ONLY way to tell how safe an area truly is requires you to visit or call the local police station. You can ask the policemen for their number of reported crime events in the last twelve to twenty-four months in your selected area. You should also ask if they are noticing any alarming trends that you should be worried about. In all my years of real estate investing, I have found this to be the number one most effective way to judge whether a neighborhood is safe or not. Also be sure to check the local neighborhood zoning. There are few bigger surprises a new homeowner will encounter than learning that a mega-shopping center is in the works next door to their little slice of perfection, called home. Or worse yet, imagine waiting five years to buy the boat you've always wanted only to learn you are not permitted to park it in your driveway. Which means you'll have to pay some outrageous fees just to have somewhere to store your boat. Most planning and zoning offices can be found online within minutes. Once you find the contact information you can look over their five or ten year projections. You can also stop into the office and get brochures or free copies of the map of proposed economic development. Armed with these tools you will have significantly more information than most of the current residents of your prospective neighborhood. You can avoid many days of headaches by learning local zoning ordinances prior to buying a home. Here are some of the potential issues which may cause you to violate your local zoning code: Chop down a tree Park a large vehicle, RV or boat in your driveway Remodel your house Start a home-based business Add a pool, fence or a kids tree house Own farm animals Partner Us Reviews of Car Insurance Companies Auto Owners Insurance Company payday loans