The Real Estate Directory

New home sales plummet in May

2010-06-28T14:29:00.000-04:00

Federal Tax Credits came to an end April 30th. Part of the fallout - new home sales plummeted a whopping 32.7 percent from April according to the Commerce Department.

The annualized sales rate of 300,000 homes is the lowest since the Commerce Dept starting tracking data in 1963.

The Mortgage Bankers Association indicates a lack of buyers - actually 6% less than the previous week.

Loan modificatins made payments more affordable allowing them to pay their mortgage payments on time.

The Associatin of Home Builders beieves the improving economy will be a strong incentive for home buyers to return to the market. Let's watch the June numbers.

Where are Mortgage Rates now??

2009-11-17T11:42:00.002-05:00

by Nan Woodward

Home mortgage rates fell last week. Long term rates are at the lowest they've been in five weeks according to Freddie Mac.

You can get a thirty year mortgage rate below 5%. Fifteen year fixed rate mortgages averaged 4.36%. Now you need to read your quote, there is a paydown to obtain these wonderful rates but that is low also today.

Since this is coming now when home rates are lower, you have a win win situation. Mortgage applications are currently at a low - lower than they have been in nine years according to the Mortgage Bankers Assoc.

So now is the time to buy and the time to get a great mortgage rate.

Mortgage Relief is missing 4 out of 5 eligible

2009-11-12T12:15:00.002-05:00

The mortgage relief program isn't hitting the mark. Only one out of five is reached and they are currently on temporary plans. To complete the process, the borrow must complete a stack of paperwork and indicate they can make their current payments on time.

Are the banks doing enough to follow thru the process? I think not. When you realize the amount of publicity out there on the benefits of the program, this is sad to hear.

Another time we spent the $$ and didn't gain on the problem?

Nan Woodward

Cape May County Foreclosures Rise

2009-08-22T12:13:00.004-04:00

by Nan Woodward

Are you aware that there is help out there for anyone experiencing foreclosure threats? And that it is FREE?

You can find financial assistance and guidance all over the state of New Jersey.

Foreclosure filings in Cape May County increased 324% from June to July, 2009. You must look for this help before the bank actually foreclosures. Don't wait.

Check out NJHMFA Mortgage Assistance Pilot Program and Mortgage Stabilization Program.

The New Jersey Judiciary Foreclosure Mediation Program has conseling and mediation for homeowners in need of help. You can reach them at the following number:

1-888-989-5277

Don't wait until it is too late to look for help. You know you are experiencing a problem making payments on your mortgage loan. Lenders actually don't want to foreclosure on your home. There are too many homes in the market now. They want you to make payments so they can collect interest on the loan.

Take this advise and call now.

Nan Woodward
http://nanwood.com

Fed: Recession Ending, Rates Left Alone

2009-08-14T13:41:00.000-04:00

The Federal Reserve ended its policy-making meeting Wednesday with the declaration that the recession is ending and it would move toward more normal policies.

The Fed said, “Economic activity is leveling out.” It added that it expected inflation would remain “subdued for some time.”

The Fed said it will keep the short-term key interest rate near zero, but it will end its program to buy $300 billion worth of Treasury bonds by the end of October. Buying bonds was one of the Fed’s efforts to drive down the cost of home mortgages.

“In a way, it’s more of a thumbs-up than if they had said they were continuing the Treasury-buying,” said Edward McKelvey, an economist at Goldman Sachs. “They’re saying that things are going according to plan, and that the policy is O.K.”

Source: The New York Times, Edmund L. Andrews (08/12/2009)

Real Estate Today - What's HOT?

2009-04-05T12:36:00.003-04:00

by Nan Woodward

Today you really need to look around you and see what it will take to buy, sell and profit from investing.

Investors are becoming very creative today. So what can you do to make the process more effective for you? Consider financing for the buyer. How about a good oldfashioned lease option? When owners don't a large enough downpayment or their credit isn't good enough - do you give up on them?

Not I. I would seriously consider a lease option arrangement. It will help me move a property and make money. It's a win win.

I recently re-rented my house in Tucson, Az. This was my first suggestion to the renter. They chose to rent. This leaves me with a property I'm renting in a decling market. I'm sure they are thinking I will sell it for less in a year. If the market continues to decline, I will probably look to re-rent it again.

You never know where you will be twelve months from now. I expect the market to stay slow although I do believe it will improve from its current position.

Enjoy your day and make money.

Private Lenders vs the 'BANK'

2009-03-21T09:48:00.001-04:00

by Nan Woodward

There are many reasons:

1. It is a hassle to deal with the banking system today.

2. How long does it take from start to finish?

3. You can only finance 70% on a cash out.

4. Private investors funds are available when you need them.

Actually you should consider being a private lender yourself if you are in a position to do so. You can earn 9 - 15% interest, as well as, points.

If you are interested in doing so, contact me.

Nan Woodward
nanwoodward@gmail.com

Why you want to buy foreclosures

2009-03-18T12:35:00.002-04:00

by Nan Woodward

Now is the time to buy foreclosures. The price is right. You make your money when you buy, you get paid when you sell real estate investment property.

You should investigate exit strategies you can use before you buy. Good uses for real estate foreclosures and bank reo properties is -

1. Rent them

2. Lease Option them

3. Do subject to deals

4. Wholesale them to other investors

5. Sell them on the Real Estate Market after rehab

Since the property is owned by an investor, it is less complicated to do a deal. Foreclosures take time to work your short sale with the lending company. It depends what type of process you must follow - judicial or non-judicial.

We'll discuss the types of processes in a future Investment post.

Have a good Real Estate Investing day!!

Short Sale Protocol

2009-03-17T14:33:00.002-04:00

by Nan Woodward

Folks going down the Real Estate foreclosure road are sad, depressed, sometimes actually angry at everyone. If you are working with them, you need to understand that you cannot
give them money.

It is against the law to provide them with cash. I have walked away from potential deals for this reason.

Real Estate that the owner can't pay for can't provide them with profit.

Take care. Watch what you do, don't allow your actions to be construed the wrong way.

Real Estate Investing requires you to do your due diligence.

The United States Economy

2009-03-16T10:51:00.004-04:00

by Nan Woodward

First, I would like to let you know i've changed my blogging zone. I've been working on a new blog - http://nanwood.com/blog

I just read an excellent email. I so totally agree that fear in this economy is spinning out of control. It is making the economic situation worse than it should be at this time.

Fear, doubt, anxiety, worry, overwelm, panic are on the rise.

So, what can we do? First - check the US Mint website to buy gold. You should see a message that says "temporarily suspeneded because of unprecedented demand".

Stop listenting to every fear monger. Take a deep breath. Look for ways to decrease your expenses and/or increase your income.

I am a Real Estate Investor in Chicago and Memphis. I am looking for new properties to add to my portfolio. I believe in the United States and all of our people. We will overcome. Mortgage rates are falling along with sales prices. Look at the positive - this a good time to be buying.

When I talk to people who are experiencing problems paying their mortgage loan, I tell them the government has programs. I tell them to contact their bank or mortgage company to see what can be done. Be proactive. Take an attitude of service to others.

I am fortunate - I bought my real estate - my home - before the huge increase in prices, my mortgage loan is reasonable. Many Americans are in that position also.

Help others!

Did you read the 2009 forecast?

2009-02-25T12:24:00.002-05:00

by Nan Woodward

Not only did I read it but I personally have decided that it shall not affect me. The recession is projected to continue deepening. The US unemployment is the highest it has been in 16 years! Its 7.6 percent. Wowwww.

The economy will continue to weaken. Gloom and doom.

I'm not saying the numbers don't speak for themselves.

I am saying - create your own space and stay off the track that is predicted for you. I believe I create my future with my current mindset. Do you feel that way?

I'm currently a marketer and client of Brian Tracy's new site - http://ilearningglobal.biz/nanwood. I am learning to use self improvement to my advantage and ignore the doom and gloom. You can do the same thing. Just take five minutes to go to the site and check it out.

Now that I've preached, use this information to create your own business ventures. I am currently working with Jim Fleck and buying real estate investment property in the Chicago, Il area. I buy at the right price (foreclosures, bank REO's etc) and use a property management company to rent the units for me. Since I have been taught to buy at the right price and make money when you buy - I'm doing well.

Would you like some information on properties in the Chicago area? Send me an email - nanwoodward@gmail.com

I'd be happy to help you move your biz forward as I am. Don't take yourself down, stop focusing on the negative in the world today - take charge of your future.

Nan Woodward

401K's, the economy and Nan

2009-02-18T12:38:00.002-05:00

by Nan Woodward

So are you one of the folks like me that has a 401K? I pulled out of the market before the actual sinking. I'm in a better position than many. But, I realized a while ago that 401K's aren't the answer to retirement.

I'm building multiple streams of income. Are you??? If you aren't, why not?

I am a Real Estate Investor who dabbled around. I'm now seriously working this biz. I have excellent connections for buying investment property in several states. I'm currently building a list of investors and jv partners for all types of real estate ventures.

What are you doing to help yourself? Real Estate is a good way to diverse your business. there are good buys in Real Estate both residential and commercial today. With good credit, you can finance property.

so what are you waiting for? Hasn't the roof fallen in on your 401K and pension? For more information on real estate investing and/or properties available contact me with Real Estate in the subject line.

Nan Woodward
nanwood@yahoo.com

Short Term help for the economy declines

2009-02-13T12:47:00.002-05:00

by Nan Woodward

The current version of the economic stimulus plan reduced the amount for short-term support. Some aid is target to state and local governments to prevent more job cust and reduce tax breaks for workers that were meant to spur quick spending.

Payroll tax cuts are reduced to $400 per individual or $800 per family. Aid to states has been reduced more than $30 billion in this new agreement.

Expenses have continued to climb while the recession has reduced tax revenues. So what happens next - if states don't receive enough tax revenues to hold the payroll where it is, they reduce the number of employees and/or cut services.

Business' is at this point now. Companies are laying off, reducing expenses in any way they can to stay viable for the long haul.

We need Americans to be more confident. Until confidence is restored, companies will not add to their staff thereby creating more jobs.

As Real Estate Investors, your future is in your hands. Be confident, move forward just do it wisely.

How do Real Estate Sales in New Jersey affect the economy?

2009-01-21T12:21:00.002-05:00

by Nan Woodward

When a home is sold in New Jersey, income is generated for related industries. Furniture sales/purchases and appliances total almost $40,000.00. You must look at the greater picture. Home sales create jobs. Taxes are paid on these property sales that roll into the State coffers.

The more stable the industry is, the stronger the economy will be. The NJ Realtors would like to see the state roll back recent increases to the realty transfer fees to boost sales. They definitely would like to see our property tax system totally revamped.

Help put the pressure on our legislators. This is your State and your economy also.

Real Estate today

2009-01-06T12:34:00.004-05:00

So where are we now?

Thats a complicated question actually. I believe home prices will continue falling just not as quickly. I think sales will start to increase but the major boom of customers won't be here in 2009.

At this moment, we have inventory excesses of existing and new homes while a bad economy and credit crunch are simulataneously happening. So you should expect prices to fall.

Do I think prices will eventually increase, of course. Just at a more reasonable pace.

This is Nan Woodward's comments for today.

today

2008-12-18T13:26:00.001-05:00

We are arriving at a new year, with major challenges. Let's focus on building our business and avoid the negativity.

Nan

Questions about Real Estate Syndication

2008-03-28T13:48:00.000-04:00

Joel has been answering some of the questions he's been frequently ask. Here are three that I believe are important.

How is it that some people perform badly but their clients continue to invest with them?
Unbelievably, in the stock market, during turbulent times when things weren’t going well, even when investors were taking losses, the brokers would continue to get investment instructions from their clients, largely because they learn to be good communicators. If they called the client and they told them what was going on, the client would retain their confidence and continue moving forward. The issue of dealing with hardship is always one of communication. Be a good communicator, be honest, and people will respect the good effort that you make on their behalf.

How do you deal with some investors who want straight interest, while others want an equity position, or some who may want both?
If you have different kinds of investors who want different kinds of returns, you can create multiple classes inside of your operating agreement. You have to know what kind of investors you have access to. If you have investors who simply want a strong rate of return and a secure interest in the property that gets paid before others get paid, then structure a deal where they provide a certain kind of loan to the deal, while the equity investors get a subordinated interest in the property. By doing that, you can accommodate many different kinds of investors.

Should the syndicator always be a partner in the deal?

When the syndicator is an investor in the deal, it provides great confidence to the investors because you put your own money on the table. That puts you on the same side of the table as the investors. However, as a syndicator you have to ask yourself if you have enough money to put a lot into every deal. Putting a lot into every deal is contrary to the concept of leverage that the syndicator gets. Therefore the syndicator needs to take a small and properly calculated interest in each deal that he takes. And the syndicator needs to manage when the cash gets put into the deal. The syndicator does not necessarily have to write a check on day one to get into the deal. The syndicator may instead place that money into the deal over time, as his cash flow permits. There are strategies that we will discuss in the live seminar program that help the syndicator to manage this very delicate situation.

Tomorrow I'll give you more. To register for more free info and possibly the seminar visit Joel'sSeminar

What is a Real Estate syndication?

2008-03-25T12:07:00.000-04:00

by Nan Woodward
Connector

A syndication is truly a partnership; Usually in the form of private corporation. When we find a property for sale that has an unusual profit potential, we canvas individuals from our client lists to find a buyer, or we may find two or more buyers willing to form a partnership to purchase the property forming a syndicate. Its the partnership agreement of a syndicate that determines what kind of syndicate it is. Our syndicates are based on simple and straight forward partnership agreements, as we deal with experienced well qualified individuals who rely on the strength and experience of their partners rather than the existence of a lengthy, convoluted and complicated partnership agreement. We use one local lawyer, experienced with our history of syndications, to prepare the agreement, and individuals in the partnership seek independent advise from there own legal counsel before entering our syndicate.

Joel Block is holding a seminar in LA covering raising capital for Real Estate. Joel says:

It's no secret that investors who leverage their money profit more in real estate than others do. If you're one of the thousands who come across many real estate deals and you don't know how to get enough money to profit from them all, then this may be the most important article you read all year.

Let us explain. There are two sides to succeeding in real estate investing. First you must have intimate knowledge of the real estate market. Second you must have access to the money to capitalize on your real estate knowledge. If you have either one without the other, you won't be able to maximize your earning potential. But what if you could have both?

What if someone could show you how to leverage your real estate knowledge and get others to happily put up the money to build your real estate empire?

Joel, one of California's successful syndicators has agreed to show a few ambitious real estate professionals how to leverage their expertise instead of their money in order to generate profits several times greater than they ever thought possible in this one-of-a kind, closed-door event.

In fact, we guarantee you will not find this type of information readily available anywhere else at any price. There are very few people who have access to this insider information, and they're not talking. And why should they share the business secrets that are making them rich?

Please listen to the preview call and judge for yourself. The event will be held in LA, the last weekend in May. I'd like to connect you with Joel to discuss your possible promotion of this life worldclass event for everyone's mutual benefit.

Webinar Preview:

http://m262.infusionsoft.com/go/webinar/nans913/

You can reach me at:

nanwoodward@gmail.com
skype nans913
phone 609-827-3691

Premier Seminar - Raising Money for Real Estate

2008-03-24T13:30:00.000-04:00

This event is limited to the first fifty who register. Top people in the industry are participating. Networking is expected.

THERE WILL BE NO SELLING AT THIS EVENT. Leave your checkbook home.

Come with your business cards to learn and network with the best.

Here’s some of what you will learn step-by-step in the “How to Raise Money for Real Estate - Harnessing the Power of Syndication” Seminar…

How to set up an organization that generates profits on the very first transaction
How the syndication business works and how money gets made
How to leverage your real estate knowledge into massive wealth
How to create and generate profits 8 to 12 different ways on every deal
How to position yourself as a syndication expert
How to raise money (capital formation)
How to minimize your tax exposure and other potential liabilities
How to deal with the legal ins and outs
How to work with professionals (securities attorneys and accountants)
How to know which deals not to syndicate and make money on the deal anyway
And much, much more!

Register for this blog and receive the preview call.

Real Estate Syndication Seminar

2008-03-21T13:24:00.001-04:00

The “How to Raise Money for Real Estate - Harnessing the Power of Syndication” Seminar is the only program of its kind, and you can be among the first to profit from it!

Joel wants you to stop limping along one property at a time and build an INSTANT portfolio. How do you do this? Joel will show you how to position yourself to attract investors who want to get in on your deals. As the syndication promoter, you call the shots. You determine your profits and how they will be paid. You may know real estate well, but few people know how to pull money together to maximize profits. This is exactly what Joel will teach you.

Here’s some of what you will learn step-by-step in the “How to Raise Money for Real Estate - Harnessing the Power of Syndication” Seminar…

How to set up an organization that generates profits on the very first transaction
How the syndication business works and how money gets made
How to leverage your real estate knowledge into massive wealth
How to create and generate profits 8 to 12 different ways on every deal
How to position yourself as a syndication expert
How to raise money (capital formation)
How to minimize your tax exposure and other potential liabilities
How to deal with the legal ins and outs
How to work with professionals (securities attorneys and accountants)
How to know which deals not to syndicate and make money on the deal anyway
And much, much more!

Show Me The Money

Not only will you learn this insider information but imagine the networking possibilities when you rub shoulders with the people who advise the “money people.” These are the accountants, attorneys, and bankers, in addition to all the real estate professionals and investors who you will meet at this amazing live event. There will be ample time set aside for networking and deal making. And believe me…You will be rewarded many times over what you invest in this program by combining efforts with likeminded people who you meet at this “first-of-its-kind” event!

Reserve your seat now and save $2,000! The full price of this seminar is $4,995. But you can save $2,000 when you register before April 18, 2008 and get the early bird price of $2,995. Tickets are limited and on a first come first served basis.

Any participant may bring a “partner” at half price. A partner can be any second person regardless of the relationship that they have to each other.

Due to the meeting room capacity at our host hotel, seminar enrollment must be strictly limited. And we know that there are more people interested in this program than we have capacity for in the room.

You will emerge from this intensive program ready to syndicate your own real estate projects. Joel will even show you how to get all the money that you invested in this program reimbursed back to you. That is just one of the benefits of this powerful weekend course.

And by the time you leave, you will know more than most people learn in a lifetime about creating a backlog of people anxious to give you money and how to profit in up to twelve ways on every transaction!

Okay, the next step is yours! Sign up today

JoelBlocksSeminar

Real Estate Markets are Uncertain Today

2008-03-19T12:14:00.000-04:00

Stocks are jumping all over the place. Bear Stear is being bought out by JPMorgan. Investors are concerned.

the dollar is sinking against the euro, oil plunged, the Nikkei stock average fell.

when will this stop???

First Time buyers are creating Upsurge

2008-03-13T12:33:00.000-04:00

The market is becoming a bit more viable. First time buyers are in the first time buyer's market of this century. Sellers are more willing to work with buyers.

Borrowers with good credit and a downpayment will see flexibility. At this point lenders are not accepting those with credit issues and no down payments.

The recent Fed changes make it less likely that there will be a meltdown in the housing industry. The fed is taking the bad loans off the banks books. Central banks in Canada and Europe are injecting money into their financial systems at the same time.

The dollar rose against the euro and the yen based on these announcements. The slipping dollar has driven up oil prices to record leves. Oil is priced in dollars.

The future looks brigher today.

Should Agents be Optomistic?

2008-02-08T12:34:00.000-05:00

by nancy woodward

It depends on your outlook. I found five reasons that make good sense to me:

1. Since prices are falling, buyers get better deals.
2. Less salespeople - Realtors have more clients
3. Builders use realtors during down times.
4. Sellers pay larger commissions just to make it happen.
5. Homeowners need realtors who are more experienced when the market is deflated.

Hopefully I have helped you a bit.

Real Estate Information

2008-01-12T19:01:00.000-05:00

by Nancy Woodward

I'm certainly into Real Estate. I've been working with Foreclosures in the last year. I'm now troubled over the constant increase in the number of foreclosures in the UNited States.

I believe, in an effort to help my clients, I shall begin also offering information and resources on the current state of the market with regard to Real Estate, financing and refinancing information and more.

If I can help you find more resources to help, I shall.

What do I do when I'm falling behind on Mortgage Payments and selling isn't feasible?

2007-12-17T12:46:00.000-05:00

by nancy woodward

There are so many homeowners in this position today. They find themselves owing more to their lender(s) than the current market value of their home. As Real Estate values decline this occurence is becoming more common. Many families with multiple mortgages are realizing they can't sell their home and break even today.

I believe all lenders really don't want your home. They want you to continue making interest payments for the next thirty years. The lender makes money by receiving your continuing payments - the interest portion of your payment is the lenders income stream.

Lenders actually rework 90% of loans for their good customers who are experiencing problems meeting their obligation. They have more than one option which will help you stay in your home.

1. Partial Reinstatement - you agree to continue making your payment as usual and makeup the balance overdue in the next year.

2. Short-term Forebearance - You skip a number of payments or reduce your payment for a few months - then make up the difference in a set period of time.

3. Long-term Forebearance - Payments discontinue for a longer period of time (usually more than twelve months) then you begin to repay all.

4. Loan modification - Your payment is permantely changed. This could be a rate change, time extension or a combination so you can continue making your payments.

5. Other terms - the bank has the flexiblity to combine and or modify whatever it takes to reduce your payment to an acceptable level.

Call your lender when you realize you will be having a problem meeting your obligations. You need to ask for the correct department - don't speak with collections. Their job is to collect money, not modify loan terms.

Most lenders have experienced these problems over and over in the past year. They will be willing to talk to you.

The Government Intervenes in the Mortgage Loan Problem as Mortgage woes continue to plague us

2007-12-09T11:16:00.000-05:00

by Nancy Woodward

The government, aka Bush, has created an agreement to freeze interest rates. But, this option is only available for those with certain sub-prime mortgages and will only continue for five years. The reason for this is hopefully reduce the number of foreclosures coming in the near future. The number of foreclosures continues to rise dramatically.

Credit is no longer easy for borrower’s to obtain. In Pennsylvania one third of the number of mortgage banks have closed this year. In New Jersey the decline has been less but still it’s an impressive 22% decline.

This decline is just the icing on the cake – there is also a decline in employment related to the closings. Of course, the snow ball effect begins - less jobs, less spending, therefore less jobs and so on.

So, the governments plan will help but it definitely won’t cure the Foreclosure problems we are experiencing and will continue on into the foreseeable future.

Foreclosures in Tucson

2007-12-07T18:52:00.000-05:00

by Nancy Woodward

Thousands in Tucson face the possibility of losing their homes. The Tanner family fell behind in the mortgage on their home in the Northwest side of Tucson. Thousands of homeowners face this predicament.

Already more than 5,000 homes have gone into foreclosure during the first nine months of this year. that is double the number of foreclosures for this area last year according to RealtyTrac.

The problem prevails all over the area. It happens for various reasons such as job loss, increase in mortgage payments, divorce and more.

Many of these homes can't be put on the market since they are now worth less than the going rate for similar homes. This problem is increasing the inventory of unsold and vacant homes in the area.

Current Real Estate and Mortgage Financing Status

2007-12-06T11:57:00.000-05:00

By Nancy Woodward

Financing is becoming more of an effort these days. Lenders are scrutinizing all loans closely. All loans includes investor loans, as well as, homeowner loans. As an investor, I suggest you talk to your mortgage lender and test the waters.

Did you know that you can move some of your investments into an LLC which will remove them from your credit report? Since lenders penalize you for having more than ten properties, consider moving them into an LLC. You will find it easier to obtain financing.

In a time of declining values you must know if your investment is in an area considered declining values. You certainly would not want to purchase any property in these areas today. You can find a report – The House Price Index – at http://www.ofheo.gov

As normal, do your due diligence prior to investing in anything.

Mortgage Rates are Falling

2007-11-27T12:32:00.000-05:00

by Nancy Woodward

Long term mortgage rates are now falling. This is the first time since 2005 the've been at Monday's level.

Quicken Loans Chief Economist, says mortgage rates are benefitting form the volatility of the stocks when compared to the security of bonds. When the stock market is in a period of fluctation, investors tend to look for safer places to put their funds - like Treasury Bonds.

This could mean more sales of homes as consumers are more likely to find financing at lower rates.

Builders have been giving away a lot of goodies - like granite countertops, no cost closings, price cuts and more in an effort to improve their sales positions. Many large firms believe they need to cut costs to prevent more sales of foreclosed homes.

The market is in a constant fluctation stage - I prefer to wait a bit before jumping in.

Phila housing market slows and foreclosures increase.

2007-11-20T20:08:00.000-05:00

by Nancy Woodward

Housing prices in Philadelphia feel slightly. An analysis by a Wharton economist shows home values in Philadelphia falling last quarter for the first time since the first quarter of 2003.

During this time, the foreclosure activity surged. This will create a $223 billion drop in property values overall. The decline in the area has a direct correlation to the fact that Phila was late reaching the boom and is, consequently, late to bust.

The Center for Responsible Lending estimates that roughly one in three households will see their equity value declining while mortages taken in 2005 and 2006 reset (arms) at much higher interest rates. This will, of course, increase the number of foreclosures in the future.

In the future, it will be very difficult for homeowners who are in this sector to purchase homes again. While the housing market in the nation declines, Phila is one of the cities with a lesser decline.

Seek help and guidance if you are experiencing a financial problem. Your lender may work with you.

Housing and Credit Markets affect each other

2007-11-19T12:25:00.000-05:00

by nancy Woodward

The stock market is sliding downward. The sad state of the banking sector and less than great hews from home builders has pushed the stock market further down the hill.

Economists fear the results of the collapsing housing market and credit problems will reduce economic growth in the final quarter of the year.

This can also cause a decline in the first quarter of 2008. They are hoping that consumers do not cut back sharply on spending.

The decline in housing combined with declining home values and credit reductions could make consumers wary of spending future dollars.

Are we headed for a Recession?

2007-11-17T18:21:00.000-05:00

by Nancy Woodward

Consumer spending accounts for two thirds of the economic activity in the nation. Last year, payrolls grew by 189,000 a month. this year the number is closer to 125,000.

Spending power is definitely eroding. This is caused in part by rising energy costs. Since tigher lending practices now pervail, homeowners will be less able to drain the equity in their home and increase their spending power.

You should consider your entire financial position prior to seeking additional funding. Should inflation continue to rise, it is possible we will see a recession.

As usual, I recommend you do your due dilligence prior to making significant changes to your financial situation.

Short Sale - What happens afterwards?

2007-11-11T10:35:00.000-05:00

by Nancy Woodward

When real estate is sold, normally there is a profit for the buyer. When the buyer has less equity than the current selling price of the home, it is necessary to do a short sale to avoid foreclosure.

This definitely leads to tax consequences for the seller. They may owe taxes to the government on the amount that was forgiven by the lender. This can be acapital gains.

Many of the homeowners I have spoken to in an effort to help them - don't understand or believe this concept. They tell me ' other investors don't tell me this'.

You should make yourself aware of this situation and how the process actually works. The lender has several ways of handling the deficiency:

1. They can attempt to collect this amount from the seller

2. They can require the seller to sign a promissory note.

3. They can just cancel this amount.

Now we need to see how the IRS handles this process. They consider any amount of mortgage debt ordinary income once it is forgiven. This means income taxes will have to be paid.

More to follow --

Foreclosures in Atlantic County

2007-11-03T23:01:00.000-04:00

by Nancy Woodward

Foreclosures in the south jersey area in the third quarter declined seven percent. Unfortunately forclosures in Cape May County rose thirteen percent during the same period.

These numbers are still below the state average of sixteen percent and the national average of thirty percent.

Realty Trac Inc. calculated the numbers. They are a tracking firm based in Irvine, California with a major presence on the internet.

I have used the site to find foreclosures in the New Jersey area.

Contacting Homeowners

2007-08-09T18:10:00.000-04:00

Contacting Homeowners in Pre-Foreclosure Situations
By Nancy Woodward

I try to put myself in their place. Homeowners who have received legal documents leading to Foreclosure are in a very stressful situation. They are grasping at anything they can to make this situation go away. Some homeowners remain in denial for a long time.

Situations beyond their control can cause a financial drain resulting in default such as:

1. Medical problems
2. Divorce
3. Death
4. Loss of a job
5. Natural disasters

I have considered this issue many times. I have never been in this position and have trouble imaging how the homeowner feels.

I created a list of questions to review before contacting a homeowner for the first time:

1. How would I feel if I had defaulted on my mortgage loan?
2. How would I feel if I were receiving a ton of mail offering to abate my foreclosure?
3. Can I trust the people sending this mail to me to help me and treat me respectfully?
4. How will my family and friends perceive this situation I am in?
5. Will I ever be able to buy Real Estate again?
6. Will I be forced to file bankruptcy?
7. Can I sell this house myself?

I find if I spend a moment reviewing my list before I knock on the homeowners door, I have more compassion and listen well before I speak. I bring homeowners my Foreclosure Assistance Guide. I make suggestion they can pursue on their own.

I explain the reasons they should stop the foreclosure and some of the misconceptions related to this process. I provide a list of questions they can review with their mortgage broker, attorney and realtor, and the foreclosure agent in the Loss Mitigation Department.

Real Estate Market today and Foreclosures

2007-07-28T14:48:00.001-04:00

Real Estate Foreclosures affect the current Real Estate Market
By Nancy Woodward

For many months now, real estate foreclosures have been on the rise. We hear this on the news regularly. The causes are many – a major cause was the creative financing in the form of adjustable rate mortgages which now are adjusting upward.

More than one million foreclosure filings were reported in the United States this year. That represents 42% more than the foreclosures reported in 2005. The increasing number of foreclosures creates an opportunity for Real Estate Investors but have a different affect on the current market trends.

In Atlantic County, New Jersey, most homes sold are ones that are priced right. This means the price that the buyer is willing to pay for the property today. For many homeowners this is not easy to do. It actually means the under priced homes are the ones selling in a reasonable amount of time.

The purchases represent those who plan to occupy the home. The market is much slower and the appreciation in homes will continue to be slower for some time. The day of swift appreciation allowing investors to sell the home quickly for a substantial increase are over for the moment.

Purchasing a pre-foreclosure property might be the right action for you to take if you have been considering buying a home and felt you could not afford to buy one. You can get a better value if you do your due diligence. Research the market before you begin.

Many investors, including myself, will offer a pre-foreclosure property at below market prices. This allows the investor to make money but still move property more quickly. If you are able to find one of these properties, you can get a good deal.

As usual, do your due diligence. Good luck!

What should I do to Avoid Real Estate Foreclosure?

2007-07-19T14:52:00.000-04:00

What should I do to Avoid Real Estate Foreclosure?
By Nancy Woodward

If you are in this position, you have certainly experienced financial difficulties. You may or may not be behind in your mortgage payments. When you realize you are having problems, you should make a list of your creditors and begin contacting them.

The worst thing you can do is to ignore the situation and assume it will take care of itself. Lenders and creditors do not want to take legal action. They are willing to work with sincere people who are experiencing temporary problems.

So, you should:

1. Write a complete list of your creditors
2. Find documentation of your loans to obtain the following information -
a. Your loan number
b. Payment amount
c. Due date
3. Calculate your current living expenses.
4. Determine if you need to decrease expenses and/or payments of liabilities and for who long.
5. Call your lenders

While this sounds simple in theory, you may experience problems reaching persons in authority who can help you. You need to find the right department and person who are handling your account.

Create a spread sheet. Track all calls you make and the conversations you have with lenders. You should know the name of the person you are talking to and what their position is in the company. You need to follow up yourself.

Ask your mortgage lender for help and information. Perhaps they will allow you to refinance your mortgage, take out an equity loan, or pursue forbearance. Once you make it clear that you are willing to work with them, you will stand a better chance of avoiding foreclosure.

What is Forbearance?

2007-07-16T13:29:00.000-04:00

Real Estate Foreclosures – What is Forbearance?
By Nancy Woodward

Forbearance is a process taken by a lender which allows the borrower to temporarily stop or decrease the amount of their payments for a period of time. The lender may allow the borrower forbearance of principal, interest or actually both.

Forbearances have a limited time span. Twelve months is the maximum amount of time allowed. This process allows the borrower time to get on his feet again.

Lenders are not required to offer forbearance to borrowers. They may choose to do so for a good client experiencing temporary problems. It generally is considered for those who are willing to make their payments and are suffering a temporary problem that would be helped out with this process.

If your problems have had an adverse effect on your credit, pursuing forbearance will not change anything related to this. I would suggest you contact your lender and creditors before your problem gets out of hand. Many lenders and creditors will work with you once they know how sincere you are.

Foreclosures are a Reality of Life Today

2007-07-14T11:53:00.000-04:00

Foreclosure is now a sad reality of life for many homeowners
By Nancy Woodward

Foreclosures in general have been on the rise for over a year. At this time, sub prime borrowers are scrambling to refinance their loans. They payments have now skyrocketed and homeowners realize they must find a way to reduce the loan payment now. Tighter lending standards put into place by Federal Regulators in recent months are making it more difficult to refinance subprime loans.

According to Brett Warren, president of Buyer’s Home Mortgage Inc., as recently as six months ago, most requests to refinance were from homeowners wanting to reduce their interest rates or take equity from their property. Today, most requests are coming from subprime borrowers trying to reduce payments.

Many of these homeowners obtained loans with teaser rates and high fees. Some now find themselves in a position where the equity in their home is negative. As the number of resetting loans increase, so will the foreclosure rate.

Philadelphia and New Jersey have a majority of mortgages in the prime rate area. These seem to have a lower foreclosure rate according to Mortgage Bankers Association. The highest increases in foreclosures last month were in California and Florida, followed by Ohio and Michigan. The firing of employees in the automotive industry had a direct impact on this.

While this number will continue to increase, homeowners should seek help before they reach the foreclosure point. There are ways to solve the problem.

Foreclosures in New Jersey

2007-06-18T12:25:00.000-04:00

Sub-prime Loans and Foreclosures in New Jersey
By Nancy Woodward

The mortgage market has seen a large increase in the sub-prime market arena. This type of loan is fairly new. These loans provide the opportunity for those with low credit scores to become homeowners. Unfortunately this type of loan has also created an opportunity for purchasers to obtain loans without truly understanding the ramifications and, in some cases, the cost they will be paying in the future.

Lending practices in the sub-prime market contributed to the increasing number of foreclosures that is shaking the Real Estate Market in New Jersey. A new version of loan – the exploding ARM – is responsible for the increase.

These loans are hybrids of the ARMs we are familiar with. They start with a low rate, and run for thirty years. The rate resets after two or three years. The new rate which is significantly higher creates a much higher mortgage payment. In 2005, initial rates were set at seven percent increasing two ten percent after two years. This rate can increase in six months to a year from now.

In 2006 Fitch Ratings reported that 2/28 sub-prime ARMs carried an average ‘payment shock of twenty-nine percent over the initial rate even if the short-term interest rate remained the same. For those given loans with very low rates based on the income they reported when obtaining the initial loan, this increased payment can be a disaster.

The current state of the housing market is softening. Interest rates are increasing and home sales prices are declining. This situation increases the possibility of financial problems. As the sub-prime market loan’s reset at higher rates, this will result in more delinquencies. It is possible for homeowners to find they cannot refinance their loan. The declining prices result in declining equity and perhaps larger loans than the remaining equity in the property.

As usual, I suggest you do your due diligence before signing on the dotted line.

How do I receive proceeds of a Reverse Mortgage?

2007-05-16T12:44:00.000-04:00

Reverse Mortgages - How do I receive the proceeds of my Mortgage?
By Nancy Woodward

There are several ways for you to obtain cash from your home using a reverse mortgage without having to repay the loan at all. When you obtain a normal mortgage, you decrease your loan thereby decreasing your liability and increasing your equity. Since this type of mortgage(Reverse Mortgage) works exactly the opposite of a normal mortgage, it essentially increases your liability to the lender and decreases equity in your home.

Four ways to receive the proceeds of your loan:

1. Lump sum - You can take all of the money at one time in a single lump sum of cash.
2. Cash advance – You can take a regular cash advance – i.e. monthly
3. Credit line - You can use an account that will allow you to take cash when you want it up to a maximum amount.
4. Using one or more of the above ways – this gives you the freedom to choose when and how much you want to take. This way can be used to effectively reduce the interest added to the balance of your loan.

After you qualify for your loan and receive funds, no one will have to repay this loan until you die, sell your home, or move out of your home on a permanent basis. You will have to qualify for the loan:

1. You must own your own home
2. You must live in this home
3. You must be 62 years of age or older.
4. Generally you must not have a mortgage loan on your home – generally Reverse Mortgages must be the ‘first’ mortgage.

While Reverse Mortgages can help you remain in your home, you are still the property owner. This means you must pay your property taxes and homeowner insurance, and making repairs on the property.

While you cannot have another first mortgage, it is possible to pay off existing debt, both in your home and credit debt, and with the money you obtain from your Reverse Mortgage proceeds.

As Americans are aging, society is seeking more ways to help them maintain their lifestyles by remaining in their home as long as possible. This is a way homeowners can obtain the necessary income without additional expenses.

As in any financial arrangement, I suggest you do your due diligence. Investigate the subject, talk to your attorney and perhaps your relatives and friends prior to moving forward.

Why Consider a Reverse Mortgage?

2007-05-15T11:59:00.000-04:00

by Nancy Woodward

There are so many reasons for you to consider creating a reverse mortgage. You could create a major list if you choose to do so. I believe there are some very valid reasons to do so such as:

1. Supplement your income. Many retired folks reach a point of needing more money to keep up with the cost of inflation.

2. Of course your income may be insufficient to maintain a minimum quality of life lifestyle.

3. Pay off debt. Your debt level needs to be low to non-existent when you retire.

4. Pay property taxes. Rising property taxes are an issue for working folks so..

5. Medical Expenses. Unforseen medical expenses or rising medical expenses will drain your income.

6. Health Care - in your home. Should you reach a point of needing daily help to stay in your home, you may need a greater income to maintain this expense.

7. Home repairs and/or home improvements. You must keep your home in good shape to avoid larger expenses to repair deterioration. A new roof or other capital repair may need to be financed.

Okay, they are the reasons I would consider getting a Reverse Mortgage. There are an unlimited number of reasons, some of which, I just would not consider:

1. Travel

2. Vacation home purchase

3. Helping relatives and friends financially.

4. To pay for luxuries.

You can make your own decision for your reason. I suggest that you carefully investigate all the posibilities before you sign mortgage documents. It is always advisable to do your due dilligence.

Have you seen the consumer incentives around today?

2007-05-10T12:52:00.000-04:00

by Nancy Woodward

How about -

Zero Financing Deals
Cash Back
Free Checking Accounts
Refinance your home at low rates

There are so many offers around today. You must do your due dilligence and check them out carefully.

You don't want to find yourself owning even more money, paying higher interest rates, having large balloon payments to make because you didn't understand or read the bottom line.

You can find professionals to help you decipher the legalese or pay your attorney a visit.

To my loyal readers --

2007-05-02T12:59:00.000-04:00

Unfortunately I have been remiss. I have not posted in a few weeks. This was due to family needs.

I am back on track and should be posting regularly. If you have a question related to this subject, I'd like to know.

Thanks for your loyalty.

Do I Qualify for a Reverse Mortgage Loan?

2007-05-02T12:57:00.000-04:00

Do I Qualify for a Reverse Mortgage Loan?
by Nancy Woodward

This is a good question I received from a friend. There are guidelines to qualify.

1. You must own a home. You can own this home with others but your name must be on the title of the home.
2. You must live in the home and it must be your primary residence.
3. You may be eligible even if you have a small loan on this home whether it be a mortgage or secondary loan.

While these are easy qualifications, you must continue to own the home and live in it for the loan to remain open.

You will not have to make payments on this mortgage. You won’t need to qualify for the loan other than the value of your property must be ascertained. You won’t be asked questions about your health.

Easy… Yes, but consider the costs prior to moving forward.

How do Reverse Mortgages Work?

2007-03-01T13:32:00.000-05:00

By Nancy Woodward

Reverse mortgages are good those retirees who have a great deal of equity in their Real Estate but they need an influx of cash to support their lifestyle. So what actually is a reverse mortgage?

This is a mortgage loan on the equity in your home but in reverse. Your take the cash value out of your home without making mortgage payments while you continue to reside in the residence. Since you don’t make monthly payments, your debt increases. You also do not need to qualify for a reverse mortgage in terms of your income.

There are few qualifications - you generally must be older than 62 and be the owner of the home. The loan will not have to be repaid until:

1. You move out of the home permanently.
2. You sell the residence.
3. You die.

As your debt grows larger, the amount of interest added to the loan increases. So your equity is falling and your debt continues to increase. If your property value is not increasing rapidly, you may consume the equity during your lifetime.

According to the Federal Trade Commission, there are some downsides you should consider prior to signing up. They are:

1. Lenders charge closing costs and all loan fees to create this loan.
2. Lenders may charge you fees to carry the loan.
3. Your total mortgage amount will probably increase in time.
4. Your equity will decrease.
5. Most reverse mortgage loans are given out with variable interest rates. This means the rate can increase based on market conditions.
6. Interest on these mortgages is not tax deductible on income tax until the loan is paid.
7. If you don’t plan to live in the home for an extended period of time, the costs you pay to obtain the loan are just too high.

For more information on this subject, check out the Federal Trade Commission site at www.ftc.gov/credit or HUD at www.hud.gov.

Is it harder to get a mortgage if your credit isn’t perfect?

2007-02-27T12:14:00.000-05:00

by Nancy Woodward

Although everything in the world of mortgages is not black and white, generally you must take good care of your credit history to easily obtain a mortgage. Lenders consider credit scores to determine if you are worthy of a loan.

Most lenders see scores above 700 as positive indicators of good credit health while scores below 600 are deemed to be risky. Interest rates for mortgage loans are higher if your credit score is in the lower ranges.

Lenders seem to be pulling in the reins on mortgages or refinancing if your credit score has marks on it. Many lenders don’t want to handle riskier loans when the market is slower.

Novastar Financial Inc. of Kansas City, MO, lost 42 percent of its share price due to a fourth quarter loss of $14.4 million. Company officials set aside $45 in anticipation of defaulting mortgages.

When the market shifts, investors demand much higher standards to approval a mortgage loan. This shift causes some consumers to be squeezed out of the market.

During the past few years, many homeowners borrowed against their homes while the market was forging forward. They now have second mortgages and home equity loans to pay when the economy is tightening. Real Estate prices are leveling at this point.

The nation’s economy may be affected by the slowing housing market and increase in the interest rates. The trend for lenders and investors will lean toward more care when handing out mortgage loans. This does not mean you can’t obtain financing, it just means it make take a bit of creativity.

Mortgage Loan Rates may Rise

2007-02-25T13:44:00.000-05:00

Mortgage Rates May Rise – if Inflation risk Increases
By Nancy Woodward

According to Charles Plosser, President of the Federal Reserve Bank of Philadelphia, the Federal Reserve may need to raise the benchmark interest rate as recent stronger US economic growth increases the risk of more than moderate inflation.

Mr. Plosser discussed the growth prospects in a speech to the Greater Philadelphia Chamber of Commerce. He feels we may not see stability without an increase in the rate to avoid inflation.

The Fed has not changed the benchmark interest rate which stands at 5.25 percent. This is the fifth straight meeting they where there has not been an increase. The benchmark rate affects the rates which bank charges for loans to individuals and business customers.

The Fed is concerned over inflation. Possner thinks it is possible that moderate inflation will continue although he is concerned over the 3.5 percent annual pace the economy expanded in the last quarter.

Greater growth than expected fuels the fear of inflation when the economy is strengthening. Let’s hope the fears are unfounded. Rising inflation affects all of us, particularly the Real Estate – Home Loan Market.

If you are in the market to buy Real Estate, you should keep an eye on this. You will win on the value of the home you buy now, but you can offset that win with a greater than expected interest rate.

Consumer Prices are Growing Creating Inflation Worries

2007-02-22T20:13:00.000-05:00

Consumer Prices are growing creating Inflation Worries – Where will this leave interest rates?
By Nancy Woodward

Rising prices are a fact of life. When prices rise faster than expected, the powers in charge are very concerned.

The Consumer Price Index rose .2 percent in January, 2007. Considering there was a large drop in the costs related to energy, this indicates the cost of medical care, food and plane fair rose at a faster pace.

Economists were not expecting this size increase. The Fed held its meeting yesterday and they again expressed concern that inflation is the biggest threat to our economic future. With prices rising and performance slowing, the threat is definitely increasing.

If the Fed becomes concerned enough, Fed Chairman Bernanke will raise interest rates. Rising rates directly affect mortgage rates and the ability of the consumer to buy homes. First time buyers have a harder time qualifying for a loan when rates rise.

The number of homes in inventory rise. Builders and contracts slow their efforts in the new construction arena. Those businesses affected by the rising rates reduce their spending in other areas to compensate for cost increases.

All of this causes growth to slow down thereby affecting inflation. While it is good to slow inflation, those affected negatively by the process would disagree. Hopefully the economy will hold it self in check and Bernanke’s statement to Congress that inflation pressure would decline over the next two years as growth remains moderate will, in fact, be the way it goes.

Mortgage Loans – Are No-money-down Mortgages Risky?

2007-02-21T12:27:00.000-05:00

by Nancy Woodward

Once upon a time, home buyers were required to make twenty percent down payments when they bought homes. Many people saved their money until they had larger down payments.

Today, it is more unusual to find any one making a large down payment. Skyrocketing real estate prices have surpassed buyer’s incomes and savings. National surveys indicate this trend is increasing in today’s real estate market.

According to the National Association of Realtors, a statistical sampling of a group of 7,500 purchasers from mid-2005 to mid-2006 was conducted and it was found that nearly half of the group of first time homeowners financed the entire mortgage. This means they began owning Real Estate with no equity at all.

An additional thirty percent put less than ten percent down, and twenty percent put down less than five percent. This means eighty percent of first time buyers became Home owners with less than ten percent equity.

Since this survey used information from Experian, one of the three major credit and realty data firms, the numbers are definitely representative of the situation. Experian stated the median down payment was actually two percent.

I consider this trend to be very risky. It is possible these home owners can find themselves with a mortgage and principal balance that is greater than the current market value of their home. In flat and depreciating market conditions, the risks are great.

Five of the top reasons for greater risk are:

1. Real Estate Market fluctuations..
2. Job transfers.
3. Large consumer debt.
4. Corporations downsizing.
5. Trend toward mega-corporations.

I would not recommend making a small to non-existent down payment to anyone who does not have sufficient capital in the event they need it. While I do realize there are many more home owners due to this practice, I consider it to be too risky for the average first time buyer.

Real Estate Investing

2007-02-18T14:20:00.000-05:00

Real Estate Investing
By Nancy Woodward

Investing in Real Estate has never been more popular. When markets correct, other markets offer better buying opportunities.

Use the internet to search - Eighty percent of home buyers do this now.

Webinars help you learn all about this subject. My Friend, John Oconnor, is currently helping investors at all levels learn to earn. Please visit John's new site RealEstateInvesting to learn more on the subject and be sure to let him know you hear about him from me.

Nancy Woodward
The Million Dollar Referral Lady
http://therealestatedir.blogspot.com

Approval for Loans depends on Your Credit Rating

2007-02-17T09:16:00.000-05:00

by Nancy Woodward

Getting approval for any type of loan depends on your credit rating. If you have average credit rating, you will find it almost impossible to get approved. It’s possible to get good rating or even improve you credit rating. Most companies almost use same rating system and if you are able to know more about it you should be able to have better credit score.

Your age is the first factor which it’s almost impossible to do anything about. Yes it’s possible to lie, but don’t because it will make things more difficult for you in future if the creditor get to know. If you are between 24 to 64 years of age you will get one point. Any age bellow or above that will score you zero point.

If you are married you have chance of adding extra point to your score. If not, you still score zero as most creditors see you as a higher risk. Also if you have no dependant you will score zero. But if you have between one to three you will add to your points. Here is how it works – if you have no dependant creditors believe you can skip town and not pay off your credit.

Creditors will also want to know more about your root. They will want to know where you live. Owning a home with a big fat mortgage or even without mortgage will give you more points. How long you stay in your present or previous residence also adds more points to your score. If you’ve move so often you will score zero point. However, if you’ve stayed up to 5 years before moving, you will surely get more point. It shows you are a good risk to them.

Other factors that will add to your point are your years on job (the longer the better), kind of job, your monthly income, present debt status, previous credit history and your saving or checking account.

Bad Credit - You can Still get a Loan

2007-02-16T11:03:00.000-05:00

Bad Credit? You can Still get a Loan
by Nancy Woodward

Don’t let bad credit get you down - you can still get a loan. With a mortgage loan, college loan or even a personal loan, many mortgage lenders turn bad credit down. However, there are some who will take a chance with you. Just because you have bad credit does not make you a bad person. When you have bad credit or absolutely no money to put down you should look for a bad credit mortgage lender.

A bad credit mortgage lender helps those who have a bad credit score or low income. They can also help get your loan approved faster than other programs. Although getting a bad credit loan may be easy, a bad credit mortgage loan has its price – you will likely pay higher interest rates and higher closing fees.

However, just because you will be carrying a higher interest rate doesn’t mean you shouldn’t look at many different companies and compare rates. Shop around before settling down. If you find one that fits your goals than go for it. Just don’t settle for the first one that you find. At this moment in time interest rates are low and it is important to get the greatest deal to avoid defaulting on your loan.

You can also solve your poor credit problems with time and knowledge about finances. Perhaps you might decide to wait on a home loan while you work to bring up your credit score. If you deicide to do this then its possible you will start out with a much lower interest rate.

When getting a bad credit loan you may find that they carry a pre-payment penalty, so you will want to check all information given to you for that. These penalties range from 6 months to 2-3 years. This could mean that you have to pay huge amounts of interest for a minimum of 6 months before you can even start to pay off your loan. If you get a loan that has a pre-payment penalty you will want to make sure you choose the shortest term so that the loan is paid off quicker and without the penalty. If you are looking for a bad credit mortgage lender, you’ll probably be able to find this resource online or through referrals through other lenders. Search for the mortgage loan that will help you to find the absolute best bad credit refinance loans and bad credit home equity loans.

Mortgage Loans - Refinancing Your Mortgage is on the Rise

2007-02-06T12:56:00.001-05:00

Mortgage Loans -Refinancing Your Mortgage is on the Rise
By Nancy Woodward

Long term mortgages rates are remaining relatively low. The average rate for a thirty year loans is approximately 6.2%. Since home equity loans and lines of credit have their interest most often tied directly to the prime rate, they have gotten more expensive since the prime is now over eight percent.

Many customers prefer to have a fixed rate loan than risk their economic future on fluctuating rates that can continue rising in the future. Freddie Mac says 89% of the loans it owns that were refinanced in the third quarter of 2006 had amounts at least five percent higher than the original mortgage balances.

According to the American Bankers Association, the dollar amount of home equity loans has increased by an annualized 14.6% for the first three quarters of 2006. This includes both home equity loans and home equity lines of credit.

Before you consider refinancing, you should look for the most economical way to accomplish this. You should also consider if refinancing to take additional cash is a wise move. If refinancing gets you a better rate and it has been a long enough period of time since your last change, then perhaps it is a good move.

If you have credit card debt, it is often financed at a much higher rate than you can obtain with a loan connected to your real estate. Sometimes you can obtain a fixed rate loan for a home equity line that will help you reduce your loan expense.

Consider the fees it takes to accomplish new financing and the time for repayment of the new debt. I personally am working on paying off my current mortgage with a Mortgage Payoff program.

I am now in the process of financing a second home. I just obtained a first mortgage at slightly less than 6.2%. Since this article was originally written about a month ago, the rates are remaining at the same levels.

If I had a loan that was at a higher rate - generally more than 2%, I would consider refinancing it to bring down my mortgage payments. You should consider how long it will take you to recoup the fees you spend to do this.

Jim Edwards’ Mortgage Loan Tips will tell you why some people almost always get the lowest interest rate on their home mortgage loan and never pay too much in points or “junk” loan fees!

Check out Mortgage Loans Tips by Clicking Here! You will save yourself time and effort, as well as, money.

Arizona Real Estate - The Buying Motivation

2007-02-03T21:40:00.000-05:00

Arizona real estate market is really hot. The centre of a lot of action in Arizona is Phoenix metropolitan area. However, when it comes to real estate investing, every area is hot. Based on whether you are looking for Arizona real estate just as an investment avenue or whether you are looking for Arizona real estate to actually live in, your preferences would change a bit. However, one thing which you would always want is a low price. And that is something that would require some effort.

If you are looking to get a piece of Arizona real estate for yourself and your family, then you need to consider a lot of different things which will also influence your perception of the lowest (or the best price) for that Arizona real estate piece. Note that the best price for the same Arizona real estate piece might be different for different people (because their level of motivation to buy a particular Arizona real estate piece might vary). So, if you have a lot of friends living in a particular area in Arizona, then Arizona real estate in that area might become your preference and hence increase your motivation level.

Similarly your buying motivation will be higher if you are planning to move into the place on account of a new job that you are taking up in that place or if you have been transferred to that place in your current job itself. If you have children, you would have to look around for Arizona real estate which has good schools around it. Again, you would like to evaluate your lifestyle and see if there is place that is in particular suited to your lifestyle.

So, there are a lot of factors that could lead to increased motivation levels. Generally, more the motivation of either side (buyer-seller), lesser is their negotiation power. So even if you are much motivated to buy a particular Arizona real estate piece, do not show it in front of the seller. Though hiding your motivation will be a bit difficult, nonetheless give it a good try.

If you are looking for Arizona real estate just for investment purposes then you would probably have a lot more time on hand to evaluate various properties before you actually go ahead with one. So your buying motivation will not (and should not) be too high. Remember that if you have time on hand, you can always get better deals (and there are lot of Arizona real estate deals out there, if you were to look properly).

I recently made an offer on a home in Tucson, Arizona. The market has slowed substantially and the inventory of unsold real estate has grown. I found a motivated seller who obviously didn’t want to wait any longer and was therefore able to buy a property in the Northeast part of town at a substantial savings. Take your time, find a good realtor and do your due diligence.

Nancy Woodward, better known as the million dollar referral lady, is a Real Estate and Mortgage Professional. You can discover how to achieve financial prosperity by subscribing to her online newsletter

Mortgage Loans -Refinancing Your Mortgage is on the Rise

2007-01-23T23:21:00.000-05:00

Long term mortgages rates are remaining relatively low. The average rate for a thirty year loans is approximately 6.2%. Since home equity loans and lines of credit have their interest most often tied directly to the prime rate, they have gotten more expensive since the prime is now over eight percent.

Many customers prefer to have a fixed rate loan than risk their economic future on fluctuating rates that can continue rising in the future. Freddie Mac says 89% of the loans it owns that were refinanced in the third quarter of 2006 had amounts at least five percent higher than the original mortgage balances.

According to the American Bankers Association, the dollar amount of home equity loans has increased by an annualized 14.6% for the first three quarters of 2006. This includes both home equity loans and home equity lines of credit.

Before you consider refinancing, you should look for the most economical way to accomplish this. You should also consider if refinancing to take additional cash is a wise move. If refinancing gets you a better rate and it has been a long enough period of time since your last change, then perhaps it is a good move.

If you have credit card debt, it is often financed at a much higher rate than you can obtain with a loan connected to your real estate. Sometimes you can obtain a fixed rate loan for a home equity line that will help you reduce your loan expense.

Consider the fees it takes to accomplish new financing and the time for repayment of the new debt. I personally am working on paying off my current mortgage with a Mortgage Payoff program.

Identity Theft is an Ongoing Credit threat

2007-01-14T13:03:00.000-05:00

Several months ago, the personal information of our veterans was compromised. There are approximately 26.5 million names in the database at risk. This means that they could become the victims of identify theft.

In 2005 the average loss experienced by identity theft victims was more than $6,000.00 as determined by a study completed by Javelin Strategy & Research. They indicate it cost the victims approximately $400 to remove inaccurate information, close or change their credit card accounts and complete all the necessary documentation.

There are a number of companies who help those with resolution of identity theft issues. They do some or most of the work to file police reports and gather pertinent information including making phone calls. Check with your bank, credit union, insurance company, automobile insurance as well as homeowners and renters insurance to see if there is a rider on your policy that will pay for the service. There are a few companies who offer services directly to the public.

Check out the information on http://www.consumer.gov/idtheft/ for relevant information that will help you. I suggest you check out the available sources including your creditors prior to having a problem. While caution with your credit information is a prudent choice, you should be prepared in the event you have a problem.

Since the problem of identity theft is ongoing, you must do what you can to protect yourself.
Use common sense when using your credit cards. I suggest you:

1. Don’t use your credit card and pin number with anyone too close to you.

2. Don’t leave carbon paper used for credit imprints. (While this is generally uncommon today, it does still occur.).

3. Keep your credit cards in a safe place.

4. Don’t carry unnecessary credit information on your person.

5. Don’t give out personal information unless you are certain that it is appropriate.

In general, just take care. Check your credit report once a year. Don’t make your credit information available to unauthorized individuals. Use the government site listed above for more information.

Nancy Woodward, better known as the million dollar referral lady, is a Real Estate and Mortgage Professional. You can discover how to achieve financial prosperity by subscribing to her online newsletter to help you better manage our mortgage and real estate properties.

Real Estate - Saving Money and Energy in Your Home

2007-01-11T12:36:00.000-05:00

by Nancy Woodward

You can save some of both with a little effort. Energy bills rise as the rates move upward. So why not make an effort to conserve your hard earned money and as a byproduct, help the environment at the same time?

1. Reduce wasted energy

Limit showers. Use a simple timer - thirty minutes is the max. Since water heaters suck energy, this will help. Just maintaining the temperature of the water in the water heater drains your energy. When you empty it and refill, you just keep the clock on the meter moving upward.

There are systems on the market today that don't use tanks!! Bosch has a system that creates hot water on demand. These units start at about $500 but there is a tax credit available and the long term savings must be considered.

2. Heat Pumps

Heat pumps are more expensive to install but they are environmentally sound. They can reduce your heating and cooling bill by as much as fifty percent. Check out the websites of the manufacturers.

3. All those Lights

I researched this subject for myself. Using small fluorescent light bulbs consumes less energy overall.

4. Windows and Doors

Are your windows air tight? Cracks around the windows allows leakage. When it is time to replace your windows, consider double pain. The energy efficient windows today can cut costs by 15%.

Replacing doors and windows taking advantage of modern efficient models will curb energy costs. You can do this over time as your budge allows. I saw a window that allows you to tint them in the summer but lets all that winter sun flow though.

These are four areas I suggest you check out. There are many more areas you can research to help you make good choices that will save you money in energy costs in the future. Sites online will provide you with good research.

Homeownership -Pursuing the American Dream

2007-01-10T10:45:00.000-05:00

Renting and apartment, condo, house might be the right thing for you to do at certain times in your life. Long term, homeownership provides more benefits and may outweigh the advantages of renting.

In general the house market is remaining strong. Real Estate investments are expected to double by the end of the decade. This is the best time to be in the real estate market and is one of the best for the housing market in general.

Consumers today are savvier today than ever. The total amount of information available about the process of real estate buying and selling is enormous. Real Estate Professionals abound and are very happy to assist you with your questions, including detailed information about the market you live in.

Online research provides unlimited information. Real Estate Agents and Brokers on listed on the Internet today. AAA has a Real Estate program in partnership with Cendant Mobility. Their connection is top-tier agents from members such as Century 21, Coldwell Bank, ERA, and Sotheby’s International Realty.

Franklin D. Rains, chairman and CEO of Fannie Mae stated “The American love affair with homeownership and the growing need for housing should power the housing sector and the economy at least for the rest of the decade. The best is yet to come.”

Wherever you are today in this process, look at the long term benefits of homeownership versus renting. List your pros and cons to make an informed decision. Ask trusted friends and relatives for their thoughts on this subject. Make a decision and move forward. The best is yet to come.

Nancy Woodward better know as the Million Dollar Referral Lady strives to provide you with Real Estate Tips to improve your financial interests.

Credit Card Companies offer More Cards

2007-01-06T21:03:00.000-05:00

Credit Offers – Credit companies offer more cards
By Nancy Woodward

Credit companies have stepped up the pace. I thought it was just my imagination until I read a recent article on the subject. I receive an offer a day for new credit cards or increases in credit lines.

In the past year, credit companies have mailed more than 6 billion solicitations. This is a record event. Approximately .3 percent of these offers were actually accepted. This represents 18 million offers.

The offers are being sweetened with freebies, rebates and rewards. There are now cards that rebate five percent of the money you spend on gasoline purchases. A card issued by American Dream Card is matching your spending with lottery tickets. Spend $100 and get the same amount in lottery tickets.

Of course, this provides an enticement to use your card. When the month is over, you must pay the balance or begin incurring interest. Since many companies charge eighteen percent interest, you have lost more than your rebate and lottery tickets while incurring an ongoing debt.

According to Mail Monitor, a unit of Synovate, a consumer research company, last year fifty eight percent offered rewards worth several pennies on the dollar. Many companies are now aggressively promoting cards with the images consumers love – such as sports teams, colleges and more. Studies have shown that consumers care more about rewards than interest rates.

In the event you are in the group of consumers who pay their bill in full at the end of each month, then take advantage of the rewards and rebates. If you are not in this group, then take care. Your bill is due in full at the end of your billing cycle, or you will find yourself making payments for some time to pay off the bill. Use due diligence in investigating the offer before you accept it and start spending your future earnings.

Nancy is a Real Estate Professional and Business Writer. Register for her newsletter on this site for email updates.

Credit Scores – Understanding and Improving Your Credit Score

2007-01-04T19:23:00.000-05:00

Since your financial health revolves around the quality of your credit score, it is important you understand what it is, how it works and ways to improve it over time.

When you apply for a loan, lenders try to determine what your risk level is. They are deciding if you can afford the loan, the terms, and what their potential risk is should they extend you credit.

Lenders look at your debt versus your current income, how long you have been employed on your job, and how you have paid your debts in the past. The better your credit score, the chances are you will get the best possible terms for your loan. You can get lower interest rates and faster approvals when you have an excellent credit score.

Your credit report is accessed by the prospective lender to determine if you are credit worthy. This report shows your credit history:

1. The type of credit you use.
2. How long your accounts have been open.
3. How timely you pay your bills.

The lender can also see how much credit you are currently using and how many potential lenders are looking at your report.

You should verify the information on your credit report. You can subscribe to services to receive your report at set intervals or you can annually obtain a free credit report. Derogatory information will affect the interest rates you obtain and the fees you pay. You can be declined for credit based on erroneous information in your credit report.

After obtaining a current report, verify all of the information in it. If you find an error, the credit reporting agency must investigate the potential error. They also must reply to you within thirty days. If this happens while you are applying for credit, you should inform your lender of the inaccuracy.

A few ways you can improve your credit score over time are:

1. Pay your bills on time.
2. Get current and stay current.
3. If you are in trouble making payments, get help. This will take time to turn around your score, but it will work.
4. Reduce the amount of credit you are using ie keep it low on credit cards.
5. Don’t close accounts to raise your score. Generally this may lower your score.

Well, this is a good beginning to understanding your credit and ways to improve your credit score over time. Everything worth having takes time so just work at it consistently.

Real Estate Ownership is the American Dream with Large Debt Attached

2007-01-01T14:23:00.000-05:00

Real Estate Ownership is the American Dream with Large Debt Attached

The heart of the American Dream is home ownership. You begin by making a conscious decision toward home ownership. This is just the first step in the process.

Of course, for you to reach this goal, you must find a way to pay for your asset. Since most people are unable to save enough to pay for their first home outright, they must find a means of financing it. There are several things you should consider before you start this process:

1. How long have you been employed.
2. Have you created a good credit history.
3. Do you pay your bills in a timely manner.
4. Can you afford to increase your debt level at this time.
5. Have you obtain a current credit report, reviewed the information, and believe it is accurate.

After you find your first property, you must consider how to finance it. Generally you need a Mortgage. This is a loan from a bank or other lending institution. The loan will consist of a principal and interest payment. The principal you pay monthly reduces the balance of your loan. The interest is your cost of borrowing the funds and will decrease slightly each month.

The cost of this debt is truly huge. If you borrow $120,000 with a thirty year fixed rate mortgage at a modest seven percent, you will pay $167,000 in interest over the life of this loan. While it is true you will pay some of the interest with future dollars when the dollar will be worth less (inflation), you still have committed to paying an enormous amount of interest for the privilege of home ownership.

Do your due diligence when choosing your mortgage vehicle. There are two basic choices – fixed rate and variable rate mortgages. Within these categories are other options for you to consider. The amount of interest you actually pay varies while your expenses are continuing to rise.

Weigh the pros and cons of each mortgage type before you decide. I suggest you take the time to do this research and reach a tentative decision before you find the property you just must have. Once you find the property, emotion takes over and you may not make the best decision in your excitement.

Two issues to consider before moving forward are:

1. Fixed or adjustable rate mortgages
2. How much financial risk are you willing and able to take on?

If you take an adjustable rate mortgage, you are gambling more than someone who stays with a fixed rate mortgage. You need to consider :

1. Job stability
2. Income stability
3. Interest rates
4. Can you afford the maximum payment based on the lifetime cap on the adjustable rate mortgage.
5. Your stress level. Only take on what you can deal with comfortably.

Be conservative in your choices for your first property and the vehicle you use to finance it. When you are ready, you can use a Mortgage Payoff vehicle to eliminate your debt much sooner. This will put you in a position to buy more/larger properties in the future.

Nancy Woodward is a Real Estate Professional and business writer. Her online newsletter provides Mortgage and Real Estate Information, Resources and products for your financial prosperity.

MillionDollarReferralLady’sBlog

Mortgage Loans

2006-12-22T13:57:00.000-05:00

You can’t buy a home without the ability to pay for it. Usually this takes a mortgage loan.

To obtain a loan, you must apply for it and wait for the lender to determine if you are an acceptable credit risk. They want to know:

1. That you pay your bills promptly.
2. You can afford the amount of debt you are applying for.
3. Your employment history.

It is possible to have a good credit score and still be declined for credit. Handling your credit should be a lifetime project. Over time you can increase your credit score. Improving your score can help you:

1. Get better credit offers.
2. Get better interest rates.
3. Make the approval process happen quicker.

Potential creditors look at your credit report. This report tells them what type of credit you use, how long your accounts have been open and if you pay your bills as agreed.

You should check your credit report yearly. I found a free credit report at www.annualcreditreport.com You should obtain your report and review it carefully. In accurate information can affect your credit adversely.

Well, this has been Mortgage Financing 101. Stay tuned for more information on this subject and Real Estate.

Assets and Liabilities are part of all business ventures

2006-12-10T16:53:00.000-05:00

Assets and Liabilities
by Nan Wood

Making a profit in a business is derived from several different areas. It can get a little complicated because just as in our personal lives, business is run on credit as well. Many businesses sell their products to their customers on credit. Accountants use an asset account called accounts receivable to record the total amount owed to the business by its customers who haven't paid the balance in full yet. Much of the time, a business hasn't collected its receivables in full by the end of the fiscal year, especially for such credit sales that could be transacted near the end of the accounting period.

The accountant records the sales revenue and the cost of goods sold for these sales in the year in which the sales were made and the products delivered to the customer. This is called accrual based accounting, which records revenue when sales are made and records expenses when they're incurred as well. When sales are made on credit, the accounts receivable asset account is increased. When cash is received from the customer, then the cash account is increased and the accounts receivable account is decreased.

The cost of goods sold is one of the major expenses of businesses that sell goods, products or services. Even a service involves expenses. It means exactly what it says in that it's the cost that a business pays for the products it sells to customers. A business makes its profit by selling its products at prices high enough to cover the cost of producing them, the costs of running the business, the interest on any money they've borrowed and income taxes, with money left over for profit.

When the business acquires products, the cost of them goes into what's called an inventory asset account. The cost is deducted from the cash account, or added to the accounts payable liability account, depending on whether the business has paid with cash or credit.

Nan is an Accountant with a Real Estate info and resource site at
RealEstateLady and her blog to provide basic info to the real estate newbie -
BusinessandRealEstateTips

Real Estate Blogger's Gifts

2006-12-08T12:33:00.000-05:00

I have been enjoying writing and reading blogs for a while. I've used my own writing and researched other's.

Today I'm writing to give the Bloggers I know some freebies. I joined an Xmas Giveaway for Bloggers. You have ten days to get your goodies - all free.

Visit BloggingGifts and grab your goodies. For more real estate information on a basic level, visit
RealEstate

Helpful tips for Small businesses

2006-11-22T12:54:00.000-05:00

Helpful Tips for Small Businesses
by Nan Wood

If you are looking to start a small business, there are many things you should know. Here are two helpful tips.

Be prepared for lots of work
One of the things that most entrepreneurs don’t expect is how time consuming and how much hard work must be done in order to start and launch a business. Starting a small business is not for everyone and usually only people that are looking for a challenge or are willing to put in the time and energy into the business will succeed in the long run. If you are interested in starting a small business, make sure you don’t have other full time commitments.

Create a Business Plan
It is extremely important to create a comprehensive business plan. While business plans do take time to create, they are a great resource for analyzing your business’s possible strengths and weaknesses, as well as figuring out how money is necessary to launch a business, operate it for a while before revenue begins to flow and figure out how much money you have for advertising, inventory, etc.

If you are thinking about starting a small business, keep in mind the above tips on creating a successful small business.

Nan, the million Dollar Real Estate Lady, has a blog at http://www.nancywoodward.com

Acting Into Appraisals

2006-11-17T13:44:00.000-05:00

I found this mini article on appraisals. Since I haven't been faithful to you in recent days, I deced to share the simple info of appraisals. Hope you can use it.

Acting Into Appraisals

Investments, terms for loans, processes, and other parts of real estate can often be overwhelming to someone who hasn't received a degree in real estate. If you are looking for definitions and actions behind those definitions, then don't forget about getting the right appraisals. This will help you if you are looking for the right market for your home.

An appraisal consists of a professional opinion that is made about a property. Included in this opinion are several factors that allow for this statement to be made. Overall, the appraisal will lead to the conclusion of what the market value is. If the market price can not be defined easily, then someone can look at the different parts of the property and determine what they believe the market price should be. Usually, this will be done by an inspector looking at the various mechanics that may have been swept underneath the rug.

An appraisal is a necessary requirement when one is looking into selling a home or having the property insured or financed. It may use several external resources and definitions of what market value may include in relation to the opinion being made in order to determine the price value of a home. When getting an appraisal, you can expect that the estimates will be based around the various factors that are related to the market at the time. Instead of just examining the parts of the property, an appraiser will also examine the neighborhood and see what everything else is worth in relation to the property.

By appraising a property, you will know how much the home is worth in relation to your own needs on the property and in relation to everything around it. By observing the standards that are set both inside and outside, you will have the ability to know when the timing is right to get involved with your piece of real estate.

Real Estate - Should you fix up your home before listing it?

2006-11-06T12:30:00.000-05:00

Real Estate Sales – Should you fix up your home before listing it?
By Nan Wood

Yes, you should fix all of the obvious things you can. When buyers visit homes, they look for the things they see that obviously need some fixing. Most buyers would rather not see the repairs in front of them. They want to buy a house that is in ‘perfect’ repair.

You should put yourself in the buyer’s shoes. Think like a buyer. Would you want to repair or fix up anything in your new home? No, you would not. While you are still in the buyer’s frame of mind, tour your house. Make a list of all the things you see that need repair.

Here are eleven obvious things to look for and correction any defects:

1. Do your walls need a fresh coat of paint?
2. How about the trim?
3. Are all of your floors and carpets in good shape? Do they need cleaning?
4. Are your windows and shades okay? Are the screens in good condition?
5. Do your appliances work properly?
6. Eliminate squeaks and cracks of all kinds.
7. Is your basement clean and organized?
8. Is your roof in good condition and non-leaking?
9. Check all faucets, fixtures and knobs.
10. Make your lights as bright as you can.
11. Clean the fireplace.

The time and effort you put into this list will save you money and aggravation in the sales process. You can do these repairs yourself or hire someone else to do them for you. The money you spend doing this will come back to you in savings. Your house will show better and sell faster in tip-top shape.

Nan is an Accountant and Real Estate Professional with an information and research site online RealEstateLady and a Business
Writer with a blog BusinessTips

Maintain your Credit

2006-11-02T10:36:00.000-05:00

Maintain Your Credit Rating
by Nan Wood

Having good credit in today’s society is extremely important. Without good credit, you will have trouble buying a new home, car, possibly find it difficult to find employment for certain jobs, etc. If you are having financial difficulties, here are some tips on preventing bad credit.

If you are late on a payment or can’t afford to pay your bills, this does not necessarily dictate you having bad credit. In fact, most people in their lifetime will be temporarily unemployed or ill for a period of time and will not be able to work. Many of these people will have bills that they will fall behind on. However, you can do a few things to avoid bad credit, even though you have fallen behind on your bills.

Make sure you contact your creditors immediately, whether it is your mortgage company, car company or credit cards. You can usually ask for a deferment or at least tell them the situation. Most of the time, they will work with you. You can create a payment plan where you can send them a little money each month, to show that you are in good faith willing to pay the debt off. For credit card companies, it is much easier for them to work with you then to send creditors to try to collect their money. If you are having financial difficulties, contact your creditors and communicate with them to come to a solution in order to prevent bad credit.

Maintaining a good rating will carry you thru all financing needs. Take care and you will have no problems.For online research on financing visit
RealEstateLoan

Real Estate - Should you fix up the homestead before listing it?

2006-10-28T14:32:00.000-04:00

The US Economy and Spending

2006-10-26T11:15:00.000-04:00

Living in the United States - Are We Spending Ourselves into Bankruptcy?
By Nan Wood

For years the United States Government has been adding each year’s deficit into the total of the National Debt. Generally when you hear people discussing the problem, they are usually referring to the current years’ deficit. The problem is much larger than this year’s overspending.

The gap between the amount the government spends and the actual amount of taxes it receives to support this is increasing rapidly. In 2002, the United States Treasury commissioned a study on this subject. The result of the study showed a $45 trillion gap.

Since that time, there have been more tax cuts and discretionary spending has continued to increase. One large increase came in the area of Medicare which now covers prescription drugs.

Former Fed and Treasury economists Jagadeesh Gokhale and Kent Smetters now estimate the gap to be at $63 trillion. Since senior benefits tend to grow almost twice as fast as the economy, the problem will continually grow larger. Baby boomers are reaching retirement and entitlement age. This group is the largest in history to reach retirement at one time.

The unpopular answer would be to restructure benefits thereby reducing the cost for the entitlements given out in the future. Of course this is not a popular approach and it would be hard for the lawmakers to pass the necessary measures to put this into effect.

An equally unpopular way to solve the problem would be to increase taxes or cut actually discretionary spending in other ways. Since there have been no major changes in Social Security since 1983, this program just continues to expand. We will not improve the future by allowing status quo to continue.

Since markets are affected by the economic health of our nation, I am slowly reducing my investments in the market. I was one of the unfortunate people who held a fair amount of technology stock at the wrong time. I am now considering investing in Canada. The Canadians, as well as other countries, have very low fiscal gaps. I am watching to see what moves our politicians make toward closing this fiscal gap to make long term progress in reducing the debt.

Nan is an Account and Business Writer. She has an online research site for information purposes at
RealEstateInfo

Real Estate Improvements - Kitchen Faucets

2006-10-21T19:10:00.000-04:00

Kitchen Faucets
by Nan Wood

If you are looking to remodel your kitchen, one thing you definitely want to consider is a new faucet. Kitchen faucets can be the centerpiece of your kitchen so you want to make sure that your faucet stands out and looks great. Today, you can find so many choices in a wide variety of materials, styles and models. If you are looking to replace your old kitchen faucet, here are some tips.

Kitchen faucets are an important addition to any kitchen. Not only does your kitchen faucet need to be practical it is also necessary for it to have style. There are so many styles available today from the classic look with two knobs to faucets with an extendable nozzle and one hand operation.

No matter what your kitchen décor you can easily find a great kitchen faucet that will fit perfectly. For instance, you can find kitchen faucets in almost any color and choice of metal. Kitchen faucets are usually very easy to install and many do it yourselfers can usually install a kitchen faucet in about an hour or two, for people that consider themselves not handy, you can easily hire a plumber to install your faucet quick and easily.

Maintaing your home and/or improving your home greatly adds to its value. Accessories are one way of improving the appearance with little cost.

Nan is a Real Estate Agent and Business Writer. To obtain a free mortgage calculator, visit her online research site
Mortgage

Real Estate - Non-metal Roofs are here

2006-10-15T16:50:00.000-04:00

Real Estate Improvements – Non-metal Roofs are now Available
By Nan Wood

There are advantages to using the new roofing products. The cost, durability, and life cycle are longer. The new products are created from recycled and natural materials. When your roof, made of shingles, needs repair, the old shingles are removed and taken to a landfill.

If you are considering one of the newer roofs, you must take the weight of the material into consideration. Some of the newer materials, such as slate and tile, can weight five to ten times more than asphalt shingles; therefore, the supports must be strong enough to hold the added weight.

While this will increase the expense of installation, the expense will only occur once. To determine the actual cost, you must take both the cost of the product and the added expense of strengthening the rafters or trusses. Then determine the length of time of your product warranty.

If you are concerned about the environment, you can use recycled plastic products. Since they weigh approximately the same as shingle, you will not have to strengthen the support system. This will save you added expense while still allowing you to gain the benefits of the new materials. Plastic can carry a warranty as long as fifty years.

Other quality materials to consider using are:

1. Slate
2. Tile
3. Shakes
4. Fiber-cent
5. Cedar Shakes
6. Pine shakes

There are companies out there today specializing in a variety of roofing materials. Check online for more information.

Nan is an Accountant, Real Estate Professional and Business Writer. She is online with an information site
RealEstateInfo

Real Estate Improvements - Create a Great Bathroom

2006-10-12T12:25:00.000-04:00

Create a Great Bathroom
By Nancy Woodward

One of the rooms in a house that is a popular for remodeling is the bathroom. Many people get very personal when it comes to their bathroom. A bathroom for many people, is an important way to relax after a hard days work by taking a nice bath or a way to wake up in the morning with a nice shower. Bathrooms are also where many people do their personal grooming and would like a room that is comfortable and has all the amenities to make them look and feel their best. Here are a few tips on creating a great bathroom.

One of the most popular ways to create a great bathroom is to install a shower with lots of great features. Most people take showers, especially in the morning. If you enjoy your morning ritual of taking a shower, make it even better with a massaging water head or climate controlled thermostat. Massaging water heads are a great way to get the kinks out of your back. Massaging water heads can also be held and can be directed to every part of the body. This makes showering very comfortable and easy in the morning.

If you like a nice shower that is not too hot or not too cold look into climate controlled water thermostats. You can literally set the temperature of the water and keep it steady as you shower. If you are looking for a way to make your bathroom special, look to the above ways on creating a great bathroom.

Should you decide to sell your house, many of these small improvements will provide the buyer with a feeling that you have taken care of your home and upgraded it.

Nan is an Accountant and Real Estate Agent affiliated with “The Dream Team”. For online research related to Real Estate, visit
RealEstateLady

Getting out of Debt - Takes planning

2006-10-11T07:52:00.000-04:00

Get Out of Debt
By Nan Wood

If you are in debt, then you know the feeling, the stress, the anxiety, and the calls from creditors and letters from banks. If you are in debt then, the first thing you would like to do is run away from the problem. However, you don’t have to run away from your debt, here are some tips for getting out of debt.

Many people don’t realize that they are going into debt, they realize once they are in debt there is a problem. If you realize that you are in debt, don’t panic. First it is necessary to understand your expenses and your income.

1. Create a budget to know exactly how much can be spent each month.
2. How much do I have available to pay to your creditors.
3. Contact your creditors. Discuss a plan.
4. Stick to the plan.

It is highly advisable to contact your creditors and tell them that you are having financial difficulties. They are more than likely to work with you instead of bark at you for their money. If you are willing to work with them, they see it as that you’re more reliable to pay them back.

Stick to your budget, and pay back the most to the highest interest accruing debts first. By paying the highest interest accounts first, you are able to save money in the long run and get out of debt faster. If you require more information then talk to a lawyer or a debt consultant. But if you are in debt, don’t run, do something about it.

If you make a conscious effort to contact your credits and make arrangements, you may be able to stall a negative impact on your credit history. Ask your creditors to work with you. If you have a clean credit history and show a diligence to rectify your problem, your creditors may be willing to work with you.

If all fails, there are companies who work with debtors to help them repay their loans. These companies deal with the creditors to facilitate your debt repayment. They will charge you a fee for this service but using a professional may be the best route. Consider the possibilities and develop a plan.

Nancy Woodward is an accountant and real estate professional affiliated with “The Dream Team”. She is working online at
MortgageFinancing
and
BusinessTips

Another way to Add Light to your Home - Save Energy

2006-10-10T07:17:00.000-04:00

Home Lighting – Another way to add light to your home while saving on heating expense and adding value to your home.
By Nan Wood

There are many benefits to finding creative lighting ideas. The top one is the mere saving on utility bills within your home. A new fireplace will help both. Actually, dollar for dollar, a fireplace adds more value to your home. Houses with fireplaces sell six percent higher than those without this improvement.

There is a growing trend in the housing market for new homes to have more than one fireplace – living room, master bedroom, and in the family room. Peninsula fireplaces are the latest decorative fireplaces I’ve seen in many homes. Fireplaces today come in many styles and colors and they can be installed almost anywhere since they no longer require an outside wall.

Consider the special glow coming from a fireplace. The glow adds ambiance to any room. My particular fireplace is gas. I find it throws off enough light to illuminate my family room in the evening requiring less artificial lighting in the room. Since the fireplace also gives off heat, I am simultaneously increasing the room temperature while I am enjoying the fireplace.

Take the time to consider your options to determine whether you want a gas or wood burning fireplace. Wood fireplaces are very attractive and certainly have become more environmentally friendly; but a substantial amount of heat goes into the flue not your room. Gas units work with switches and provide a lot more heat. They are cheaper to run and don’t give off smoke that can cling to your furniture.

Consider improving your home by adding a fireplace or two. You will increase the value of your asset while enjoying the benefits and beauty it will provide.

Nan is an Accountant, Real Estate Agent and business writer. She has an information site online on HomeLighting and research for RealEstate

Good Personal Credit

2006-10-09T19:29:00.000-04:00

Starting a Business: Good Personal Credit is a Necessity
by nan wood

If you are thinking about starting your own business, banks will look at your personal credit history if you have no business credit history. Thus, credit scores are more important than ever. While banks previously determined whether to lend to a business or not by looking at your credit, the business’s potential, any collateral you may offer, and your personal career history, this process has become extremely condensed in order to process more applications and level out the bank’s risk, so without excellent credit, you might find yourself denied a business loan.

Start by getting a tax identification number for your business, which helps separate your business credit history and your personal credit history – an important step in building your business credit and helping to launch your business. If you have bad credit, separating your business from your personal credit is crucial. You can do this by applying for a tax identification number for your business, but also by securing a business office address and phone, as well as a business bank account.

Larger and better-known financial institutions often automate their credit application processes now, and having a less than average personal credit score and no business credit history will hurt your chances of obtaining a loan. Try smaller, hometown banks, which are more likely to view you personal credit score while factoring in the potential of the business. Some lenders focus on high-risk loans for entrepreneurs. These loans often start with high interest rates, with the understanding that increased business cash flow can lower the rate. Depending on the amount of your start-up costs, you can also consider opening up a business credit line to help with initial expenses.

Another option in obtaining money is opening up a home equity loan. This may be a risky option, depending on the viability of your business. Home equity loans are loans taken out against your home. These loans can give you the start-up cash necessary to fund your business at relatively low interest rates, but depending on the strength of your business, you could lose your house if your business fails.

Once you have a tax identification number for your business, you can begin building your business’s credit history and score. You can do this by paying any business bills on time, especially your business credit cards. The national credit reporting agencies have also developed a credit report for businesses, and this will allow you to better track your business’s credit. By maintaining good personal credit, you can start off with good credit in the business world as well.

Losing Your Identity and Your Good Credit

2006-10-08T11:47:00.000-04:00

Losing Your Identity and Your Good Credit
by Nan Wood

Identity theft has become a problem with the introduction of shopping online. Thieves set up
clone web sites much like the ones that are used popularly to make purchases so that they can fool unsuspecting victims into entering their personal information. You can also have your information stolen by not correctly disposing of bank statements and other mail that contains personal information, such as your social security number. It is important to always shred any trash that contains such information, because having your identity stolen can adversely affect your good credit.

Any woman knows that it is a nightmare to have her purse stolen. You lose any money and belongings, and then have to get all of your personal information cards either canceled or replaced. Your debit account could go into a negative balance merely by someone forging your signature. If you don't have a credit card, the person who holds your personal information can easily open one and charge thousands of dollars worth of merchandise in a matter of hours. If you do not cancel your credit cards and freeze your bank account immediately you could drop from having excellent credit to bad credit sooner than you might think. Other necessary actions would be to file a report with the police and place an initial fraud report on your credit report.

On the Internet and telephone, you take a chance anytime you give out personal information. Prior to entering any personal information, such as your credit card number for making a purchase, be sure to check the web address to be sure that you are on the companies' official web site rather than a clone with the same appearance but different address. This one thing is often overlooked and thieves have exploited it successfully many times. If you notice this, report the fake site to the official site so that you can help prevent some unsuspecting person from making a simple mistake that could completely ruin their credit.

The best thing to do if you feel that you may have been a victim of identity fraud is to get an up to date credit report and look for activity that you are certain is not your own. In the event that you do find a new account opened or activity that is not your own, contact any companies involved to try to obtain a signature that was not made by you. The sooner you file your identity theft report, the easier it will be when trying to keep your credit report from being harmed. Keep track of every action that you take, and make sure to ask lots of questions about your credit score to be sure that everything is correct.

Good credit is worth protecting. You need good credit for your financial wellbeing.

Credit Reports are Valuable

2006-10-06T12:43:00.000-04:00

Credit Reports are Valuable Tools
by Nan Wood

If you are concerned about your credit and would like to see how you rate, one of the best tools to use is credit reports. Credit reports are extremely valuable tools that can help you understand your credit rating, in case you are buying a home or a car. Understanding how credit reporting agencies work is very useful, here are some tips.

You can easily request a credit report sometimes for free (depending on the state of residence) to determine if you have good credit or have blotches of bad credit. Practically all your lending institutions report their credit history with you and depending on how much loans you have out, how you paid off your previous debt and your current employment can determine how lending institutions approve you for mortgages, car loans, etc.

Credit reports are a very valuable tool, especially for the many people today that rely on their good credit rating. Credit reports help people protect themselves from identity theft and unauthorized charges. When you request your credit report, you can easily tell if another entity opened up a credit card or took out a loan under your name. Credit reports should be requested every year or even every 6 months to determine if identity theft has taken place.

Credit is an issue when you are buying a home. take good care of your credit report. Visit RealEstate

Setting Up a Small Business

2006-10-05T10:22:00.000-04:00

Setting Up a Small Business

If you are an entrepreneur and trying to launch a business, you should first consider the costs and time necessary to set up your small business. Many entrepreneurs are ill prepared for the amount of time, energy and money many businesses cost to set up. Here are some tips on setting up a small business.

Just like everything else, preparation and organization matter in business. You can lose valuable time, money and energy if you don’t set up a plan of action when setting up your business. In fact, many entrepreneurs try to wing it. Unfortunately, setting up a business can be difficult and there are tons of unforeseen expenses that always pop up.

Some businesses never get off the ground because of unforeseen expenses and difficulties when setting up a business. It is not enough to plan out your product, customer base, advertising and budgets. Launching your small business is crucial and should take a lot of effort in order to get off on a good foot.

Many businesses forgo certain expenses because at the time it seems like a waste of money. It is important to be cautious with your money, but don’ forgo necessary expenses that later down the road can make or break your business. If you are setting up a small business, take a look at the above suggestions in order to help your business succeed.

Tanke your time, do your research. Ask your Accountant, Business Partners and friends to brainstorm with you before you start. Do your due dilligence.

Nan is an Accountant with an interest in RealEstate. For online resources and free info visit here site.

Credit Laws

2006-10-04T12:11:00.000-04:00

Credit Laws You Need to Know
by Nan Wood

The Equal Credit Opportunity Act states that all lenders will apply the same credit standards to all consumers, without prohibiting by race, sex, marital status, national origin, religion, age, or public assistance program involvement. This does not guarantee the approval of a loan or credit but does insure that all consumers are given an equal chance to obtain credit. The only acceptable measurement for creditors to use is your ability to pay your debts.

Many applications will contain questions about your sex, your race, or your nationality. You are not required to answer such questions on an application for credit. These may be asked in conjunction with fair housing laws or affirmative action laws, but these are completely optional. Furthermore, you should not be asked about your marital status, unless your partner will help secure and use the loan. You may be asked your age under the Equal Credit Opportunity Act, but only to determine if you are old enough to obtain credit (usually 18 years old in the U.S.)

All creditors must notify any applicants of their decision within 30 days. If the application is denied, the creditor must provide a written statement detailing the outcome or decision along with the reason for the denial and information on the applicant’s rights. This act helps ensure that a certain standard is kept with all applications for credit – no matter who the applicant is.

The Fair Credit Reporting Act gives individuals the right to view their credit report. To disseminate this, each citizen can receive one free credit report every 12 months. The act allows individuals to receive their credit history for all three national credit reporting agencies. In reviewing his or her credit, disputes can be logged against specific items on the credit report, allowing the consumer to police the credit reporting agencies. If the correction to your credit is not up to par, you can also add a brief statement of 100 words or less clarifying the particular item.

The act was instituted to uphold the accuracy and privacy of an individual’s information in credit reports. It was also passed with the intention of curbing identity theft, an ever-growing crime. By reviewing one’s credit report each year, he or she could determine if any sort of identity theft had occurred.

Both acts help protect you by insuring the fairness of the lending industry while allowing you to take control of your credit history and ensure its accuracy. Maintaining good credit begins by learning all you can about how credit reporting works. By understanding these laws, you are taking a positive step in creating good credit for a stable financial future.

For more information visit
Mortgages

Read the Fine Print on all Contracts

2006-10-03T07:55:00.000-04:00

Read the Fine Print on Credit Card Contracts
by nan wood

If you are planning on applying for a credit card, make sure that once you receive your credit card in the mail, read the fine print. Credit card companies try to make sure that the agreement between them and the consumer benefits them in large part. Before you use the credit card, make sure you protect your rights and read the fine print so that you can determine if the credit card is worth the convenience.

Most credit cards create long, fine print terms and conditions in the hopes that most consumers will not read it. Yes, it is correct, that many credit card companies hope that you do not read the fine print of their contract with you. This practically guarantees that they have a financial advantage and that you sign on to an agreement with very little recourse.

Credit card companies are not looking to be fraudulent with you; however they try to gain every advantage that they can. This can include the possibility of raising your interest rate if you are late with a payment, the possibility of fees they can levy against you if you go over your credit limit or the amount of interest they charge you once you make a purchase. If you want to make sure that you understand what you are signing up for, make sure you read the find print of the terms and conditions of the credit card.

I wrote this article for credit card users but, in reality, you must read the fine print in all contracts you sign. The difference can be enormous, particularly when you have a problem. Take care.

Nan is a Real Estate Agent with an information site online for research.
Visit RealEstate

Timeshare Offers

2006-10-02T11:51:00.000-04:00

Timeshare Offers
by Nan Wood

If you are thinking about buying a timeshare, one of the best things you can do is try out a timeshare offer. Timeshare offers are a great way to see timeshare properties, learn about what kind of timeshares are available and what amenities are included. However the best thing about timeshare offers is usually the free vacation that comes with just looking at a timeshare and sales presentation.

Many timeshare developers offer potential customers free vacations in their timeshare units in order to spur sales of their timeshare properties. These offers are either free or extremely low cost. For instance, it might only cost you $200 for a family of four to spend a week at a timeshare property in Orlando or another Florida community. While these prices are very inexpensive, be prepared to sit through a sales presentation, which may include a hard sell.

While it is not advisable that you take advantage of a timeshare offer if you are not truly interested in buying a timeshare, many people go through the pain and agony of the hard sell and sales pressure in order to enjoy a long vacation for a very affordable amount. If you are looking to buy a timeshare, take advantage of timeshare offers.

For more information on Real Estate and online resources visit
RealEstateDir

Good Credit is Vital - Tips for you

2006-10-01T20:01:00.000-04:00

Tips for Good Credit
by Nan Wood

Having good credit can open up many doors for you and your family including approval for a mortgage or car loan and a lower interest rate based on your past experience of paying back your debt in quick time. If you are looking for ways to improve or keep up your good credit rating, here are some tips.

Pay Your Bills on Time
Obviously, this is an easy one; however we all have financial difficulties from time to time. If you find yourself having difficulties paying your bills on time, the best thing you can do is contact your lenders and alert them of the situation. You can be put on a payment plan or have a deferment for a couple of months.

Don’t Go Over Your Head with Credit
Don’t take out too many credit cards or too many home loans. Even if you don’t have that much on your balance, a credit card company will look at having too many credit cards in your possession as a negative. While each creditor is different, usually three credit cards, two loans and a mortgage are seen as a responsible amount of credit.

Have a Balance on Your Credit Card
In order to build good credit, you need to show the credit card companies that you buy and then pay off your bill. If you have a credit card with no balance, they can’t predict your credit history.

Your Customer must be your Focal Point

2006-09-29T23:28:00.000-04:00

Keeping Your Focus on the Customer
by Nan Wood

With so many ecommerce web sites out there and strong competition in each category, it is very important to keep your focus on the customer. Many people are so short sighted on making a profit, that they forgo the most important part of the business equation-the customer.

Most online web developers spend lots of time and money building a web site as well as attracting web visitors to their web sites. Once a visitor lands on your web page, don’t throw all that hard work away, keep your focus on the customer so that they stay longer, hopefully buy a product and become a return visitor.

Everyone has probably landed on a web site that is out to make a quick sale with no respect for the visitor. You probably encounter pop up ads, an overload of flash advertisements and a mouse trap that makes you close your browser window just to leave their web site. Most visitors would run from a web site like this, let alone purchase an item. So if you are a web designer, create a web site that accommodates your visitors, treats them fairly and has a long term philosophy to build a relationship with visitors and offers a fair product.

Changing Real Estate Market – Does this Create an Opportunity?

2006-09-27T23:02:00.000-04:00

Changing Real Estate Market – Does this Create an Opportunity?
By Nancy Wood

Yes, it definitely does create a new opportunity. Since the Real Estate market is slowing down, there is a larger inventory of houses. Since a larger inventory of Real Estate exists, buyers can move somewhat slower in making decisions and signing on the dotted line. The market is more balanced at this point in time and there are benefits to this situation for both the buyers and sellers.

Buyer’s advantages are:

1. More choice in houses
2. Decisions can be made slower
3. Sellers will have fewer offers to choose from.
4. Properties will be competitively price from the beginning.
5. Mortgage rates are still at historical lows.
6. Since appreciation is expected at a slower rate, moving up is more affordable.

If you are considering moving, now is a good time to enter the market looking for your perfect home. You will still find a reasonable interest rate; particularly if you have a good credit history and credit score. Sellers will give your offer more attention since they will be receiving fewer multiple offers.

Atlantic County, New Jersey, is one of the areas where prices have just skyrocketed in the past few years. Homes in my neighborhood have risen 75% in the last three – four years. This appreciation makes it difficult for the new buyer or young buyer to enter into the marketplace. The slow down of the Real Estate market will help them tremendously.

Nancy is a Real Estate Professional and Accountant. Visit
RealEstateLady

Selling Timeshares

2006-09-26T12:22:00.000-04:00

Sell Time Share the Best Way
by Nan Wood

Timeshare selling can be a lucrative business. Timeshare on a property like that of a condo, vacation resorts, yachts, houseboats or motor homes can be a financial exchange as well.

An owner who has time share can sell it to other interested buyers. One reason why one would want to resort to selling his timeshare is he might not be able to use it at that given time and it was already paid for by him. So as to not go through a fiscal loss, he’ll compensate for it by letting somebody else use it – and that someone will be paying him instead.

To avoid the illegal re-selling of timeshare, it is best that the parties involved comprehend fully well the terms of their transaction. First of all, one must know what kind of timeshare does the owner own.

Running it briefly, the different kinds of time shares are:

1. Fixed week ownership
The most basic timeshare unit. Example: Fourth of July Holiday is always in high demand. If you own this particular week at an often-visited resort, you can use it every year to your advantage.

2. Floating
Ownership is the number of weeks. Example: Weeks 22 to 36.

3. Rotating
If the time share has many owners, the weeks that are often most demanded such as week 26 which normally includes the Fourth of July holiday will be rotated among them.

4. Deeded and Right to Use
The use of timeshare in deeded contracts is often divided into weeks and are sold as if they were real property. Therefore, the owner can do whatever he chooses to with his week – he can use it, rent it out, give it to those who are requesting for it or make it an inheritance to his heirs. As for right to use, the person who buys the timeshare must use the property with what is stated on his contract.

5. Vacation Clubs
These are organizations owning units in various resorts in different locations. They are sold as deeded contracts, as well as right to use. Therefore, club members can make reservations at any time at the locations as long as it is available.

Therefore, if you are going to sell your timeshare, you must tell buyers all the information they need to know. Discuss it clearly with them.

You could also seek the help of Timeshare Resale Services. They have programs which will place advertisements in for you. They call these as “Ad-Listing.”

Being the seller, you need to have an exposure. That is exactly what those Timeshare Resale Services provide. With Ad-Listings, your timeshare is made available to the interest of other resale companies, rental companies and most importantly, potential buyers.

You could also opt that they hold an auction for your timeshare. Usually, Timeshare Resale Services conduct auctions each week, considering a lot of timeshare owners can not always use their week at that given point.

With Timeshare Resale Service’s advertising campaign, more people will be made aware of what you are selling. Their campaign covers newspapers, yellow pages, magazines, radio and even direct mail. Lately, the internet is also being used to announce the recent selling of timeshare.

Finally, you must be up on your toes whenever your timeshare is being evaluated. Like yourself, you must know how much your timeshare is worth. Some timeshare resale companies say that your timeshare is worth more than it really is and charge you way too high.

The key is selling your timeshare week for less than what the resort is selling. Mark it down around 20 to 50%.

Or if you’re up to it, you can just not sell it and donate it to charity. Thus it will reflect a write off on your tax return. If you want, you can also trade it in for another timeshare week at a different resort. You can actually trade what you have for something better.

Like what is mentioned earlier, timeshare is a business. And in a business, you always, always have to use your head.

Engery Bills

2006-09-23T16:52:00.000-04:00

Real Estate – Saving Money and Energy in your Home
By Nan Wood

You can save some of both with a little effort. Energy bills rise as the rates move upward. So why not make an effort to conserve your hard earned money and as a byproduct, help the environment at the same time?

1. Reduce wasted energy

Limit showers. Use a simple timer - thirty minutes is the max. Since water heaters suck energy, this will help. Just maintaining the temperature of the water in the water heater drains your energy. When you empty it and refill, you just keep the clock on the meter moving upward.

There are systems on the market today that don't use tanks!! Bosch has a system that creates hot water on demand. These units start at about $500 but there is a tax credit available and the long term savings must be considered.

2. Heat Pumps

Heat pumps are more expensive to install but they are environmentally sound. They can reduce your heating and cooling bill by as much as fifty percent. Check out the websites of the manufacturers.

3. All those Lights

I researched this subject for myself. Using small fluorescent light bulbs consumes less energy overall.

4. Windows and Doors

Are your windows air tight? Cracks around the windows allows leakage. When it is time to replace your windows, consider double pain. The energy efficient windows today can cut costs by 15%.

Replacing doors and windows taking advantage of modern efficient models will curb energy costs. You can do this over time as your budge allows. I saw a window that allows you to tint them in the summer but lets all that winter sun flow though.

These are four areas I suggest you check out. There are many more areas you can research to help you make good choices that will save you money in energy costs in the future. Sites online will provide you with good research.

Nan is an Accountant and Business Writer with an information site online
HomeLighting

Safety for Real Estate Agents

2006-09-20T12:38:00.000-04:00

Real Estate Agents – Safety is an Issue
By Nancy Woodward

As a Real Estate Agent, I read articles from various sources. I read an article today that gave me reason to think. Is safety an issue when you are showing a house?

The article I read indicated the agent gets to an open house and hides the knives and sharp objects prior to hosting the open house. This agent is very safety conscious. She protects herself from the public as much as she can. Her point - I’m doing an open house. Everyone knows it is going on - see the sign and balloons. They know there is a potential to find a Real Estate Agent alone if there are no vehicles in the area.

This agent checks the sex-offender registry before going to an appointment with a potential client she is has never met. Agents in other areas have experienced problems in vacant houses.

Is she right? Well, I think that is a matter of opinion. I agree you must be safety conscious at all times. You must be aware of the potential, the crime rate in your area, the trends going on in the area you work, the neighborhood you are visiting and/or working in regularly. Use good judgment and mostly importantly “be aware”.

Roofing Materials

2006-09-19T14:48:00.000-04:00

Plumbing Requires Maintenance

2006-09-15T08:58:00.000-04:00

Maintaining Your Home Plumbing
by Nan Wood

Home plumbing is an important facet of your home. Your home plumbing obviously consists of all your sinks, bath tub, shower stalls and washing machine outlets as well an incoming water line and outgoing sewer line. Here are some tips on maintaining your home plumbing.

While it is easy to view and inspect your home plumbing whether it being your sinks or bath tubs, it can sometimes be difficult to inspect the pipes that connect to your home via the underground municipal water line. Most exterior pipes are made out of galvanized steel which usually lasts for decades with relatively little issues. If you find that there are always puddles of water on your lawn, by your sidewalk, street or drive way, this can be a sign that there might be a leak. Most of the time, you will need to contact your municipalities water department for them to come inspect the pipes. If you have a leak on your land, you municipality will either do the work or you can hire a plumber that will probably need certain permits.

The only thing worse than an incoming pipeline leak is a sewer leakage either going out to the municipalities sewer system or to your septic tank. You will need to contact someone immediately to correct the problem as it can be very messy along with foul smelling.

Indoors, check your pipes regularly. If you notice rot, talk to your plumber about replacing your older pipes. Nowadays, indoor plumbing usually consists of PVC plastic piping so they are much easier to replace and last much longer than older metal piping.

Fireplaces add light

2006-09-14T13:22:00.000-04:00

Keep it Simple

2006-09-02T16:33:00.000-04:00

Simplicity Can Help
by Nan Wood

For most entrepreneurs starting a small business can be a huge undertaking. Even the smallest business can require lots of time, labor and mental energy. If you are looking to succeed but feel defeated, here are some tips to empower yourself as well as your business.

Simplicity can sometimes be the key to your businesses success. Many entrepreneurs sometimes feel overwhelmed, because it is difficult to grasp many parts of their business, it is very helpful in these situations to take a step back and take a look at the big picture. Many entrepreneurs break things down until they are easier to understand. There are many different organizational tools that can be used to efficiently look and analyze your business to make better sense of it.

Sometime what entrepreneurs need is a mentor to talk to when things get rough and confusing. Mentors are a great way to get first hand knowledge on what might be wrong with your business and some possible tips to fix it. If you don’t have a mentor, there are plenty of resources where you can also find great commentary and talk to contemporaries, such as online forums. If you are finding your business difficult to run, look at the above tips.

Real Estate Agents

2006-08-23T12:57:00.000-04:00

Real Estate Agent

While most people don’t consider being a real estate agent a work at home job, real estate agents can have an extremely flexible schedule allowing many of them to work the majority of time from the comfort of their own home.

The real estate industry has changed dramatically with the internet. Today, many home owners can search dozens of listings from their own home and go over properties together with an agent, all without the need for an office. If you are looking for a flexible career that has plenty of potential, here are some tips on becoming a real estate agent.

In order to become a real estate agent, you must first pass a test and receive a license. There are many real estate agent courses available and you can be well on your way to selling real estate in only a few months, depending on the state. Many people that first start out in real estate usually work on commission with the possibility of a stipend. One of the great things about real estate is that you can do the majority of your work at home. If you are looking for a full time career with a great earning potential, look into being a real estate agent.

For online resources on the subject visit
RealEstate

Easy to Incorporate

2006-08-09T07:43:00.000-04:00

Easy Ways to Incorporate Your Business
by Nan Wood

If you are starting a small business, or have a small business that is starting to expand, you probably want to look into incorporating your business to make it a separate legal entity from yourself. Creating a corporation or LLC (Limited Liability Company) is a great way to lessen the liability that can occur if your business fails or another party sues your business. Here are some tips on some easy ways to incorporate your business.

Incorporating your business is actually a quite simple procedure. Many people can either incorporate their business on their own or have a lawyer incorporate your business for you.

If you decide to incorporate your business on your own, check out incorporation guide books that have all the information to incorporate your business in the state that you choose. You can easily complete the forms and send them to your government office. You can incorporate your business or start an LLC for less than $200 and that includes choosing your businesses name.

If you don’t feel like going it alone, you can hire a lawyer that will incorporate your business fast and easy. Most lawyers will charge you less than $500 and fill out the necessary paperwork as well as register your businesses name for you. So if you are looking to start a small business or expanding your present business, look into incorporating it.

Computers for your Office use

2006-08-06T18:51:00.000-04:00

Desktop Computers
By Nan Wood

You will need some computing available if you plan to create your own business. Real Estate agents use computers daily for research and more. Most offices require computers to perform their word processing, as well as, their accounting tasks.

Both Laptop and Desktop computers are capable of all functions today. There are some advantages to buying desktops today.

Desktop computers are a great way to accomplish all your computer tasks while giving you high performance and a great price. Many people have been switching recently to laptops; however desktops still hold lots of advantages for many people.

If you are looking to buy a computer this year, don’t forget about a desktop computer. Most people are switching to laptop computers due to their portability and now easy access to the web.

Desktop computers will always be better at upgrading and swapping hard drives and other hardware. If you are a person that likes to work on their computer by adding cards, swapping hard drives or upgrading memory, desktop computers can’t be beat. They are easy to work on, have lots of room inside for upgrades and very easy to maintain.

Desktop computers are also more affordable than laptops. With desktops you don’t have to worry about the extra weight or extra heat given off by a component. Desktops are easy to upgrade and are easier to cool. If you are looking to buy a computer this year, don’t forget to check out desktop computers. The price for laptops is definitely higher and this may not be in your budget yet. There is a large selection of both laptops and desktop computers available on the market today.

Nan is an Accountant and Business Writer. She has information sites on line
BusinessTips and information for research on
RealEstate

Starting a new business - Find Ideas

2006-08-05T12:18:00.000-04:00

Finding Start Up Business Ideas

If you are looking to start your own small business but don’t know what to sell, here are some tips on where to find great start up business ideas.

Many people fail to realize that there are thousands of great business ideas right in front of their eyes, you just have to know where to look. For instance, looking to find a great item to sell on large auction sites, the best place to find items to sell on auction sites is to look carefully at these sites. The best thing about Ebay is that all the sales data is right in front of you. Look through the different categories and find a product that is selling well.

You can look at how many of these products are selling, daily or weekly, how many merchants are selling this product, and how much money does each product usually sell for. Selling an item with this type of information makes the entire process much easier. This information is far too valuable to pass up. If you still have questions, hit the merchant forums. There are always interesting posts on how to find great products and to get the latest buzz on what categories are hot.

Ebay has a secion for What folks want right now. This is a good place to look for ideas. Check out the popularity of words in google and yahoo search. Yahoo has search marketing that I find very helpful as a research tool.

Use the tips above, brainstorm with your friends and go for it. An online business in particular is easy to start and very cost effective. Good Luck.

Legal Stuff

2006-08-04T12:14:00.000-04:00

Law Resources
by Nan Wood

If you have a small business, one of the many areas that you usually need advice on is law. The law can be confusing at times and consulting with a lawyer will be a necessity. If you are looking for a great way to save on legal fees, here are some tips on law resources.

Most businesses need to consult with a lawyer from time to time on serious matters or trivial matters, however no matter what the circumstance; it can cost lots of money for face time with a lawyer. There are a few ways to save on legal fees; one of the ways is to subscribe to a law service. Law services are sort of like health care. You can subscribe each year and pay a monthly premium. If you need a law service, you can usually find services that are free or cost only a small co-payment for a specific service.

If you don’t want to sign up for a law service, but just need some general law documents such as contracts, wills, legal business letters, etc, you can usually find these documents all in one package for a low price. Many legal documents can be purchased in packaged software and is a fraction of the cost that it takes a lawyer to write up a document specifically for you. If you are looking for law resources, take a look at the above suggestions.

Ideas for Setting Up your Business

2006-08-02T08:13:00.000-04:00

If you are an entrepreneur and trying to launch a business, you should first consider the costs and time necessary to set up your small business. Many entrepreneurs are ill prepared for the amount of time, energy and money many businesses cost to set up. Here are some tips on setting up a small business.

Just like everything else, preparation and organization matter in business. You can lose valuable time, money and energy if you don’t set up a plan of action when setting up your business. In fact, many entrepreneurs try to wing it. Unfortunately, setting up a business can be difficult and there are tons of unforeseen expenses that always pop up.

Some businesses never get off the ground because of unforeseen expenses and difficulties when setting up a business. It is not enough to plan out your product, customer base, advertising and budgets. Launching your small business is crucial and should take a lot of effort in order to get off on a good foot.

Many businesses forgo certain expenses because at the time it seems like a waste of money. It is important to be cautious with your money, but don’ forgo necessary expenses that later down the road can make or break your business. If you are setting up a small business, take a look at the above suggestions in order to help your business succeed.

Business Resources to Help you Succeed

2006-08-01T12:05:00.000-04:00

Business Resources
by Nan Wood

If you are a small business person looking to succeed, there are a tremendous amount of resources available to you. Starting or running a business can be extremely difficult and require you to wear lots of hats. Not being proficient in all areas of your business can cause you limited success. If you truly want to succeed, here are some resources that can help.

There are plenty of resources available, from small business magazines to business forums, to organizations that help small business out. No matter what your business field or industry, you can find great resources.

For people that like to get insightful and inspirational information you can always pick up a handful of magazines or business newspapers. Forums are also a great choice for businesses looking to speak with other entrepreneurs and either ask questions, comment on events or help others out by answering questions.

Small business organizations are also a great resource. Whether it is a professional organization, small business association or a non profit community service that works with businesses, you can find lots of grass roots organizations that are willing to help make your business successful. If you are looking for great business resources, take a look at the above web sites.