Please watch your home owners insurance policy. Insurance companies, like Allstate, Nationwide, and State Farm, have a way of getting maximum profits by stiff arming homeowners. Many insurance companies employed McKinsey & Co., a New York-based consulting firm that has advised many of the world's biggest corporations, according to records in at least six civil court cases.
These insurance companies want you to pay for 100% replacement costs premiums but when its time for them to pay, they find every excuse not to do so. The insurance companies change the language , be aware of "extended replacement costs."
Watch http://www.pbs.org/now/shows/333/insurance-industry.html as well as check the link out above.
Oh yes be sure to check your insurance policy for the "hidden" language.
Thursday, August 30, 2007
Bernanke Needs To Show Leadership
This situation is Enron on steroids.
Actually go back to the S&L crisis, then Enron, then dot com crisis. stock market crash. All of these occurred because of cheap money as well as Corporate America's fraud, abuse and enriching themselves. When a CEO sell his stocks ( options) and tell the employees to buy, something is amiss. Corporate America makes these exotic loans, backdating, and other nefarious deeds to gain wealth, but when they go bad they look for the Federal Government to bail them out. Corporate Welfare.
Bernanke needs to hold Fed rates where they are and be his own man. Not a clone of Greenspan who followed the whim of Corporate America. If Bernanke lowers interest rates, what is he saying to those who played by the rules?? This bailout is akin to Amnesty for illegal aliens breaking the law to get in and stay in USA. What is given to those immigrants who did the right thing by waiting in line to be citizens??
The problem is too cheap money for Corporate America to fiddle with as in fraud, abuse, and enriching themselves. Too cheap money and lack of oversight will always result in Enron and S&L crisis. There was fraud from the borrower to the mortgage lender to the ratings firms to accounting firms. What are these CDO's worth? Who knows? Check the balance sheet of these firms. H & R, Countrywide, Bear Stearns, Moody, and many others. They don't know the value of their subprime loans and neither does the investors ( especially the investors). Enough already.
Bernanke knew coming into this job that he will get criticized from all sides. He needs to do the right thing and let the markets work out themselves ( the correction).
Look, even if Bernanke drop the rate .5% or even 1%, it will do no good. As Americans are spent out. They are indebt up to their eyeballs. They have charged out, pulled out equity from their homes, and even spent their savings.
The economy is going to slow no matter what.
Spending is over. Now we must tighten our belts and get our financial house in order.
Actually go back to the S&L crisis, then Enron, then dot com crisis. stock market crash. All of these occurred because of cheap money as well as Corporate America's fraud, abuse and enriching themselves. When a CEO sell his stocks ( options) and tell the employees to buy, something is amiss. Corporate America makes these exotic loans, backdating, and other nefarious deeds to gain wealth, but when they go bad they look for the Federal Government to bail them out. Corporate Welfare.
Bernanke needs to hold Fed rates where they are and be his own man. Not a clone of Greenspan who followed the whim of Corporate America. If Bernanke lowers interest rates, what is he saying to those who played by the rules?? This bailout is akin to Amnesty for illegal aliens breaking the law to get in and stay in USA. What is given to those immigrants who did the right thing by waiting in line to be citizens??
The problem is too cheap money for Corporate America to fiddle with as in fraud, abuse, and enriching themselves. Too cheap money and lack of oversight will always result in Enron and S&L crisis. There was fraud from the borrower to the mortgage lender to the ratings firms to accounting firms. What are these CDO's worth? Who knows? Check the balance sheet of these firms. H & R, Countrywide, Bear Stearns, Moody, and many others. They don't know the value of their subprime loans and neither does the investors ( especially the investors). Enough already.
Bernanke knew coming into this job that he will get criticized from all sides. He needs to do the right thing and let the markets work out themselves ( the correction).
Look, even if Bernanke drop the rate .5% or even 1%, it will do no good. As Americans are spent out. They are indebt up to their eyeballs. They have charged out, pulled out equity from their homes, and even spent their savings.
The economy is going to slow no matter what.
Spending is over. Now we must tighten our belts and get our financial house in order.
Wednesday, June 27, 2007
Subprime Loans and Rising Foreclosure Fiasco
There are still major problems happening in the US real estate market with foreclosures. According to CNNMoney.com, foreclosures have jumped 90% over last year. To blame is the slowing real estate market and the subprime lending nightmares.
According to RealtyTrac, the US foreclosure rate was one foreclosure filing for every 656 U.S. households during May.
These problems, and numerous others, are encouraging the Federal Reserve to tighten up regulations to slow things down. According to CNNMoney.com, there are four areas where the government and those highly affected by these problems are focusing right now:
1. Prepayment Penalties- Where borrowers are stuck with high interest rates or fees because they can’t afford to pay the penalties involved to refinance or sell to get lower rates and fees.
Insurance and Taxes Not in Escrow- When neither of these is being paid out of escrow and money gets tight, borrowers stop paying these. Taxes get behind and insurance lapses, and the lender is left with the consequences.
2. “Stated” or “No Doc” Loan Programs- These encourage borrowers to participate in what many call “liar loans” where income and assets are exaggerated.
3. Poor Judgement on the Borrower’s Payment Ability- Because most brokers do not have to worry about what happens after closing, deals are made that should not be happening in order to make a commission.
4. Lenders have already begun tightening things up and it’s gotten harder and harder for homeowners to get a good loan on a property, never mind your average investor.
According to RealtyTrac, the US foreclosure rate was one foreclosure filing for every 656 U.S. households during May.
These problems, and numerous others, are encouraging the Federal Reserve to tighten up regulations to slow things down. According to CNNMoney.com, there are four areas where the government and those highly affected by these problems are focusing right now:
1. Prepayment Penalties- Where borrowers are stuck with high interest rates or fees because they can’t afford to pay the penalties involved to refinance or sell to get lower rates and fees.
Insurance and Taxes Not in Escrow- When neither of these is being paid out of escrow and money gets tight, borrowers stop paying these. Taxes get behind and insurance lapses, and the lender is left with the consequences.
2. “Stated” or “No Doc” Loan Programs- These encourage borrowers to participate in what many call “liar loans” where income and assets are exaggerated.
3. Poor Judgement on the Borrower’s Payment Ability- Because most brokers do not have to worry about what happens after closing, deals are made that should not be happening in order to make a commission.
4. Lenders have already begun tightening things up and it’s gotten harder and harder for homeowners to get a good loan on a property, never mind your average investor.
Thursday, May 24, 2007
When You Are Ready To Sell
Realtors contend that well-priced homes sell in any market and any season but home sellers today have to assume a declining market when determining their asking price.
Since you have no control over the declining market, focus on the items you can have control over, the three P’s of home selling: pricing, promotion, positioning. Price it competitively, promote it everywhere it can be posted and position it well through home ‘staging’ principles made famous by Barb Schwarz. Free your home from clutter and claustrophobia before you put it on the market and clean it thoroughly. Staging will create an opportunity for buyers to focus on the home and the architecture instead of your life and hobbies.
The home seller who needs to sell with a certain period of time should structure his home sale with price reductions in mind on a scheduled basis. Some real estate agents push for price cuts after 14 days or 21 days. Most agents will tell you that the first 30 days of the listing is the critical period. After that the listing is ‘stale.’ You don’t want buyers wondering if something is wrong with your house when the only thing wrong is that you priced it too high.
Although many real estate brokers and agents are highly skilled in their knowledge of their local real estate market and can produce solid CMAs (comparative market analysis) and BPOs (broker price opinions), the trained professionals who conduct the most thorough reports are licensed appraisers such as members of American Society of Appraisers.Their web site offers the following tips for maximizing your home sale price:-
Update the paint and carpeting. The best thing you can do to update the look of your house is give the outside and the inside a fresh coat of paint and add new carpet. When in doubt, nothing works better than a fresh coat of white paint. -Give your house curb appeal. If you are going to spend any money on the yard or landscaping, work on the front yard. It is more important to buyers that a home looks good from the street. They can always fix up the backyard later.
-Clean house. Even if you have to put things in storage, clear your rooms and garage of clutter, knickknacks, etc. Sparse and simple are better than clutter and will make your rooms look bigger.
For homeowners who are thinking about selling in the long term, appraisers note that many people put time and money into areas that don’t increase value. For the best bang for your buck, think about the following:-Add square footage. When it comes to your house, nothing will offer a greater return on investment than putting an addition onto your home. -
Build out your garage. You may not think so at first, but your garage is of great interest to buyers. By adding a garage or expanding the garage you have, you will increase the value of your property. -Think before you build that pool. Even though you may love the idea of having a pool, don’t build one thinking of it is an investment. Many buyers don’t want a pool and don’t want the upkeep.
Location, location, location. The best thing you can do to make sure your home sells is to buy in a good location in the first place. When it comes to the value of your home, the location is still the most important factor.The bottom line advice is to sharpen the pencil and do the best you can on your own home pricing to compete with the other sellers. Yesterday’s prices are history so focus on the most recent sales of comparable properties.
Incentives or gimmicks can get you added attention but the value has to be there for the buyer to get excited about your offer to pay closing costs, etc. You might consider offering to pay the mortgage for 3-6 months for the home buyer. That incentive could calm relax the nervous buyer who is fearful of not selling his own home as part of his trade up or downsizing move. You can also offer agent bonus incentives but it can create a conflict for agents who work as buyer’s agents and must put the buyers’ interests first.
Since you have no control over the declining market, focus on the items you can have control over, the three P’s of home selling: pricing, promotion, positioning. Price it competitively, promote it everywhere it can be posted and position it well through home ‘staging’ principles made famous by Barb Schwarz. Free your home from clutter and claustrophobia before you put it on the market and clean it thoroughly. Staging will create an opportunity for buyers to focus on the home and the architecture instead of your life and hobbies.
The home seller who needs to sell with a certain period of time should structure his home sale with price reductions in mind on a scheduled basis. Some real estate agents push for price cuts after 14 days or 21 days. Most agents will tell you that the first 30 days of the listing is the critical period. After that the listing is ‘stale.’ You don’t want buyers wondering if something is wrong with your house when the only thing wrong is that you priced it too high.
Although many real estate brokers and agents are highly skilled in their knowledge of their local real estate market and can produce solid CMAs (comparative market analysis) and BPOs (broker price opinions), the trained professionals who conduct the most thorough reports are licensed appraisers such as members of American Society of Appraisers.Their web site offers the following tips for maximizing your home sale price:-
Update the paint and carpeting. The best thing you can do to update the look of your house is give the outside and the inside a fresh coat of paint and add new carpet. When in doubt, nothing works better than a fresh coat of white paint. -Give your house curb appeal. If you are going to spend any money on the yard or landscaping, work on the front yard. It is more important to buyers that a home looks good from the street. They can always fix up the backyard later.
-Clean house. Even if you have to put things in storage, clear your rooms and garage of clutter, knickknacks, etc. Sparse and simple are better than clutter and will make your rooms look bigger.
For homeowners who are thinking about selling in the long term, appraisers note that many people put time and money into areas that don’t increase value. For the best bang for your buck, think about the following:-Add square footage. When it comes to your house, nothing will offer a greater return on investment than putting an addition onto your home. -
Build out your garage. You may not think so at first, but your garage is of great interest to buyers. By adding a garage or expanding the garage you have, you will increase the value of your property. -Think before you build that pool. Even though you may love the idea of having a pool, don’t build one thinking of it is an investment. Many buyers don’t want a pool and don’t want the upkeep.
Location, location, location. The best thing you can do to make sure your home sells is to buy in a good location in the first place. When it comes to the value of your home, the location is still the most important factor.The bottom line advice is to sharpen the pencil and do the best you can on your own home pricing to compete with the other sellers. Yesterday’s prices are history so focus on the most recent sales of comparable properties.
Incentives or gimmicks can get you added attention but the value has to be there for the buyer to get excited about your offer to pay closing costs, etc. You might consider offering to pay the mortgage for 3-6 months for the home buyer. That incentive could calm relax the nervous buyer who is fearful of not selling his own home as part of his trade up or downsizing move. You can also offer agent bonus incentives but it can create a conflict for agents who work as buyer’s agents and must put the buyers’ interests first.
A Receipt for a Successful Sale
Seven Main Ingredients that Make up a Sell / Purchase
When all of the following ingredients are in agreement…
Location:
To coin the favorite phrase of appraisers: “Location, Location, Location.” The pricing of your property must reflect its location.
Condition:
The upkeep and presentation of your property is crucial to obtain the highest value for your home in any given market at any given time.
Price:
Price is the number one factor in the sale of a home. A property is really only worth what one person is willing to pay another to gain ownership of it. Price must be in direct relationship to the other 4 ingredients and it is the most important of all!
Terms:
The more terms available on your property the more potential purchasers you reach. The pricing of your property must reflect the kinds of terms available to purchase it.
The Market:
I.E. Interest rates, competition, and the economy all make up and influence the state of the Market when you sell your home. The pricing of your property must reflect the current status of the Market.
Creative Financing
Financing can be time consuming and stressful. When the buyer is pre-approved it makes the process run smoothly.
A Good Realtor:
An agent that cares about what your goals are and is willing to work towards that goal of getting the best deal in a timely manner is exactly what you will need.
Setting the best price to list your home is part science, part art. There are several aspects of the home's value we consider when making pricing recommendations.
1. Comparison. Where does your home fit in the marketplace? It should be priced to be competitive with comparable houses in the same area.
2. Negotiation. The price should allow some space to make concessions in order to close the deal.
3. Return. The listing price should be set so you net the most money possible from the sale.
4. Target. Ideally, the price is adjusted to the top of a multiple listing category, so the home's features compare favorably with lower-priced homes in the range. (If it is placed at the bottom of the next higher price grouping, the higher-priced houses will look better and sell more quickly.)
Unfortunately, what you paid for your home is not a factor in determining its market value. Neither is what you would like to get out of the home. Some home improvements you've made may add to the market value, however. Having the house in picture-perfect condition from the first day of the listing may also increase the value of your home. But mostly, these will help you sell faster, and that could mean a sale price close to your asking price.
Don't offer gimmicks; instead, correct defects -- cosmetic and structural -- and price the property right. The biggest incentive you can give a buyer is a well-prepared home that's listed for a realistic price. The listings that are selling in today's market are priced right for the market, they look good and there's no doubt in anyone's mind that the property is available.
Consultation with an accountant and/or attorney is recommended before entering into any financial transaction.
When all of the following ingredients are in agreement…
Location:
To coin the favorite phrase of appraisers: “Location, Location, Location.” The pricing of your property must reflect its location.
Condition:
The upkeep and presentation of your property is crucial to obtain the highest value for your home in any given market at any given time.
Price:
Price is the number one factor in the sale of a home. A property is really only worth what one person is willing to pay another to gain ownership of it. Price must be in direct relationship to the other 4 ingredients and it is the most important of all!
Terms:
The more terms available on your property the more potential purchasers you reach. The pricing of your property must reflect the kinds of terms available to purchase it.
The Market:
I.E. Interest rates, competition, and the economy all make up and influence the state of the Market when you sell your home. The pricing of your property must reflect the current status of the Market.
Creative Financing
Financing can be time consuming and stressful. When the buyer is pre-approved it makes the process run smoothly.
A Good Realtor:
An agent that cares about what your goals are and is willing to work towards that goal of getting the best deal in a timely manner is exactly what you will need.
Setting the best price to list your home is part science, part art. There are several aspects of the home's value we consider when making pricing recommendations.
1. Comparison. Where does your home fit in the marketplace? It should be priced to be competitive with comparable houses in the same area.
2. Negotiation. The price should allow some space to make concessions in order to close the deal.
3. Return. The listing price should be set so you net the most money possible from the sale.
4. Target. Ideally, the price is adjusted to the top of a multiple listing category, so the home's features compare favorably with lower-priced homes in the range. (If it is placed at the bottom of the next higher price grouping, the higher-priced houses will look better and sell more quickly.)
Unfortunately, what you paid for your home is not a factor in determining its market value. Neither is what you would like to get out of the home. Some home improvements you've made may add to the market value, however. Having the house in picture-perfect condition from the first day of the listing may also increase the value of your home. But mostly, these will help you sell faster, and that could mean a sale price close to your asking price.
Don't offer gimmicks; instead, correct defects -- cosmetic and structural -- and price the property right. The biggest incentive you can give a buyer is a well-prepared home that's listed for a realistic price. The listings that are selling in today's market are priced right for the market, they look good and there's no doubt in anyone's mind that the property is available.
Consultation with an accountant and/or attorney is recommended before entering into any financial transaction.
Buyer: Be Prepared To Buy
Buying a home is one of the most important personal and financial decisions you'll ever make. We want you to have this step-by-step guide to help you be prepared to buy your first home.
Knowledge Is Power ...
Accurate Information Is Essential Knowledge is power become an educated consumer because misinformation can get in your way. First, learn about the process and requirements for buying a home. Choosing Your Real Estate Professional Deciding to find and buy a home is one of the most important decisions of your life. It combines your personal hopes and dreams with wanting what's best for you and your family. It means making changes. That's why it's in your best interest to choose an experienced real estate agent who listens to and understands your needs, and works in the area where you want to live.
Reduce the Stress, Develop a Financial Plan
You can reduce the stress of home buying by thinking ahead. Before you find a home you want to purchase, develop a financial plan. This plan becomes your guide not only for saving money for the down payment, but also for covering other expenses such as your credit check, mortgage application and closing costs.
Establishing Credit
Having an established credit history plays an important role in the home buying process. It's never too soon to start building a good credit history. Start by diversifying how you pay for things; don't pay for everything with cash. Pay your bills on time, limit your debt, reduce the number of credit cards you have, and use them responsibly. Your goal is to show that you are financially responsible and a "good credit risk."
Closing and Other Additional Costs
After you find a home and receive mortgage approval, the closing is when ownership of your new home officially transfers from the seller to you. In some cases, sellers pay the closing costs. If not, you need to be prepared to pay this additional cost. This can add another two to five percent to the home purchase price. These costs also can vary from state to state.
Finding A Home …Your Search
Where do you start when you're ready to find a home? You'll want to have an idea of the features you "want" versus "need" in a home. Then the fun begins!
Making An Offer
When you find a home you want to buy, you'll make the seller an offer in writing. Your offer is typically the first step toward negotiating a sales contract. That's why determining how much to offer is more complex than simply determining a price. Because of the large amount of money involved, both the buyer and the seller need to protect their investments and limit their risk. This is why when you make an offer, you not only specify the price you are willing to pay, but also the other details of the purchase.
Contingencies
Contingencies generally allow you to anticipate potential problems so if something goes wrong, you can cancel the contract without penalty. If you cancel a contract without having agreed upon conditions and contingencies, you could find yourself forfeiting your good faith deposit and money spent to inspect the property, as well as other damages. For this reason, it's recommended you retain an attorney. Your attorney will advise you about what to include in your offer to protect yourself.
Your Good Faith Deposit
Along with your offer, you'll provide a "good faith" deposit that demonstrates to the seller your serious interest in buying. This is one of the additional costs mentioned earlier. This money is deposited only once the offer has been negotiated and accepted by both parties.
The Home Inspection
After you find a home and make an offer, a house inspection is often ordered. The seller should have the property available for inspection by a professional. In a typical inspection, experts examine the existing conditions of the property. Inspections may be required by law with the elements inspected varying by region, state, and/or your agreement. The most common type is the General Home Inspection. A home inspector can provide you with a complete service that covers from the basement to the attic, as well as the exterior of the home, walls, chimneys, and fixed appliances such as refrigerators and stoves. Other specific elements that can be included: (not a complete list)
· Termite · Plumbing · Water Quality · Lead
· Radon · Septic Tank · Asbestos · Electricity
The Final Walk
Though Before the closing and property ownership is transferred, you will want to visit your future house. This "walk-through" is an opportunity to ensure that the house has been left in the expected condition. You should make sure that all the items the owner agreed to leave are still there, such as kitchen appliances. This may also include furniture and accessories listed in the final sales contract. If there are problems, discuss them with your agent and attorney. In some cases, you can ask for a discount or credit at the closing to cover missing items or last-minute damages to the property.
The Closing
To be knowledgeable and prepared, ask your agents and attorney to go over the details of the closing with you beforehand. The closing process can vary by area of the country and even within the same state. Generally, the seller is required to provide clean title to the property at closing.
FUNDING
It's also important to review your credit report. This is a record of past and current debt that states when, how and if you paid. Make sure that the information contained in your credit report is accurate. By reviewing your credit report now, you'll have the opportunity to correct an errors. Ask your Agent to help you get a copy of your credit report to review. Don't wait until you've found a home to do this. Do it now. (see funding for more info)
Mortgage Pre-approval
A pre-approval is a simple calculation done by a mortgage lender that tells you (a) the amount you'll be able to finance through a loan and (b) what your monthly payment will be. When you find a home to buy, a pre-approval also reassures the seller that you have the financial means to purchase his or her home.
Once you know the amount the bank will lend you, the next step is to determine how much to save for your down payment. This will help you define the types of homes within your budget. Keep in mind the monthly costs associated with home ownership include not only your mortgage payment, but also real estate taxes, homeowner's insurance and utilities.
Your Down Payment
A down payment is the money you pay up front toward the purchase of your new home. Typically, the larger your down payment, the less you pay each month on the mortgage, and the lower the interest costs will be over the life of the mortgage.
How large should your down payment be? Many people make down payments of 5%, 10% or 20% of the sales prices of the homes they buy.
Your Mortgage
Your options for financing the home you find depend on your personal financial situation and your unique needs. Ask your agent for guidance about contacting mortgage lenders and getting a Mortgage Pre-approval. This will help you gauge how much you can afford to spend on a home and the financing options available to you. Here's an overview of typical financing
Knowledge Is Power ...
Accurate Information Is Essential Knowledge is power become an educated consumer because misinformation can get in your way. First, learn about the process and requirements for buying a home. Choosing Your Real Estate Professional Deciding to find and buy a home is one of the most important decisions of your life. It combines your personal hopes and dreams with wanting what's best for you and your family. It means making changes. That's why it's in your best interest to choose an experienced real estate agent who listens to and understands your needs, and works in the area where you want to live.
Reduce the Stress, Develop a Financial Plan
You can reduce the stress of home buying by thinking ahead. Before you find a home you want to purchase, develop a financial plan. This plan becomes your guide not only for saving money for the down payment, but also for covering other expenses such as your credit check, mortgage application and closing costs.
Establishing Credit
Having an established credit history plays an important role in the home buying process. It's never too soon to start building a good credit history. Start by diversifying how you pay for things; don't pay for everything with cash. Pay your bills on time, limit your debt, reduce the number of credit cards you have, and use them responsibly. Your goal is to show that you are financially responsible and a "good credit risk."
Closing and Other Additional Costs
After you find a home and receive mortgage approval, the closing is when ownership of your new home officially transfers from the seller to you. In some cases, sellers pay the closing costs. If not, you need to be prepared to pay this additional cost. This can add another two to five percent to the home purchase price. These costs also can vary from state to state.
Finding A Home …Your Search
Where do you start when you're ready to find a home? You'll want to have an idea of the features you "want" versus "need" in a home. Then the fun begins!
Making An Offer
When you find a home you want to buy, you'll make the seller an offer in writing. Your offer is typically the first step toward negotiating a sales contract. That's why determining how much to offer is more complex than simply determining a price. Because of the large amount of money involved, both the buyer and the seller need to protect their investments and limit their risk. This is why when you make an offer, you not only specify the price you are willing to pay, but also the other details of the purchase.
Contingencies
Contingencies generally allow you to anticipate potential problems so if something goes wrong, you can cancel the contract without penalty. If you cancel a contract without having agreed upon conditions and contingencies, you could find yourself forfeiting your good faith deposit and money spent to inspect the property, as well as other damages. For this reason, it's recommended you retain an attorney. Your attorney will advise you about what to include in your offer to protect yourself.
Your Good Faith Deposit
Along with your offer, you'll provide a "good faith" deposit that demonstrates to the seller your serious interest in buying. This is one of the additional costs mentioned earlier. This money is deposited only once the offer has been negotiated and accepted by both parties.
The Home Inspection
After you find a home and make an offer, a house inspection is often ordered. The seller should have the property available for inspection by a professional. In a typical inspection, experts examine the existing conditions of the property. Inspections may be required by law with the elements inspected varying by region, state, and/or your agreement. The most common type is the General Home Inspection. A home inspector can provide you with a complete service that covers from the basement to the attic, as well as the exterior of the home, walls, chimneys, and fixed appliances such as refrigerators and stoves. Other specific elements that can be included: (not a complete list)
· Termite · Plumbing · Water Quality · Lead
· Radon · Septic Tank · Asbestos · Electricity
The Final Walk
Though Before the closing and property ownership is transferred, you will want to visit your future house. This "walk-through" is an opportunity to ensure that the house has been left in the expected condition. You should make sure that all the items the owner agreed to leave are still there, such as kitchen appliances. This may also include furniture and accessories listed in the final sales contract. If there are problems, discuss them with your agent and attorney. In some cases, you can ask for a discount or credit at the closing to cover missing items or last-minute damages to the property.
The Closing
To be knowledgeable and prepared, ask your agents and attorney to go over the details of the closing with you beforehand. The closing process can vary by area of the country and even within the same state. Generally, the seller is required to provide clean title to the property at closing.
FUNDING
It's also important to review your credit report. This is a record of past and current debt that states when, how and if you paid. Make sure that the information contained in your credit report is accurate. By reviewing your credit report now, you'll have the opportunity to correct an errors. Ask your Agent to help you get a copy of your credit report to review. Don't wait until you've found a home to do this. Do it now. (see funding for more info)
Mortgage Pre-approval
A pre-approval is a simple calculation done by a mortgage lender that tells you (a) the amount you'll be able to finance through a loan and (b) what your monthly payment will be. When you find a home to buy, a pre-approval also reassures the seller that you have the financial means to purchase his or her home.
Once you know the amount the bank will lend you, the next step is to determine how much to save for your down payment. This will help you define the types of homes within your budget. Keep in mind the monthly costs associated with home ownership include not only your mortgage payment, but also real estate taxes, homeowner's insurance and utilities.
Your Down Payment
A down payment is the money you pay up front toward the purchase of your new home. Typically, the larger your down payment, the less you pay each month on the mortgage, and the lower the interest costs will be over the life of the mortgage.
How large should your down payment be? Many people make down payments of 5%, 10% or 20% of the sales prices of the homes they buy.
Your Mortgage
Your options for financing the home you find depend on your personal financial situation and your unique needs. Ask your agent for guidance about contacting mortgage lenders and getting a Mortgage Pre-approval. This will help you gauge how much you can afford to spend on a home and the financing options available to you. Here's an overview of typical financing
Buyer: Be Prepared To Buy
Buying a home is one of the most important personal and financial decisions you'll ever make. We want you to have this step-by-step guide to help you be prepared to buy your first home.
Knowledge Is Power ...
Accurate Information Is Essential Knowledge is power become an educated consumer because misinformation can get in your way. First, learn about the process and requirements for buying a home. Choosing Your Real Estate Professional Deciding to find and buy a home is one of the most important decisions of your life. It combines your personal hopes and dreams with wanting what's best for you and your family. It means making changes. That's why it's in your best interest to choose an experienced real estate agent who listens to and understands your needs, and works in the area where you want to live.
Reduce the Stress, Develop a Financial Plan
You can reduce the stress of home buying by thinking ahead. Before you find a home you want to purchase, develop a financial plan. This plan becomes your guide not only for saving money for the down payment, but also for covering other expenses such as your credit check, mortgage application and closing costs.
Establishing Credit
Having an established credit history plays an important role in the home buying process. It's never too soon to start building a good credit history. Start by diversifying how you pay for things; don't pay for everything with cash. Pay your bills on time, limit your debt, reduce the number of credit cards you have, and use them responsibly. Your goal is to show that you are financially responsible and a "good credit risk."
Closing and Other Additional Costs
After you find a home and receive mortgage approval, the closing is when ownership of your new home officially transfers from the seller to you. In some cases, sellers pay the closing costs. If not, you need to be prepared to pay this additional cost. This can add another two to five percent to the home purchase price. These costs also can vary from state to state.
Finding A Home …Your Search
Where do you start when you're ready to find a home? You'll want to have an idea of the features you "want" versus "need" in a home to help your Mother and Daughter Team agents guide you in a successful home search. Then the fun begins!
Making An Offer
When you find a home you want to buy, you'll make the seller an offer in writing. Your offer is typically the first step toward negotiating a sales contract. That's why determining how much to offer is more complex than simply determining a price. Because of the large amount of money involved, both the buyer and the seller need to protect their investments and limit their risk. This is why when you make an offer, you not only specify the price you are willing to pay, but also the other details of the purchase.
Contingencies
Contingencies generally allow you to anticipate potential problems so if something goes wrong, you can cancel the contract without penalty. If you cancel a contract without having agreed upon conditions and contingencies, you could find yourself forfeiting your good faith deposit and money spent to inspect the property, as well as other damages. For this reason, it's recommended you retain an attorney. Your attorney will advise you about what to include in your offer to protect yourself.
Your Good Faith Deposit
Along with your offer, you'll provide a "good faith" deposit that demonstrates to the seller your serious interest in buying. This is one of the additional costs mentioned earlier. This money is deposited only once the offer has been negotiated and accepted by both parties.
The Home Inspection
After you find a home and make an offer, a house inspection is often ordered. The seller should have the property available for inspection by a professional. In a typical inspection, experts examine the existing conditions of the property. Inspections may be required by law with the elements inspected varying by region, state, and/or your agreement. The most common type is the General Home Inspection. A home inspector can provide you with a complete service that covers from the basement to the attic, as well as the exterior of the home, walls, chimneys, and fixed appliances such as refrigerators and stoves. Other specific elements that can be included: (not a complete list)
· Termite · Plumbing · Water Quality · Lead
· Radon · Septic Tank · Asbestos · Electricity
The Final Walk
Though Before the closing and property ownership is transferred, you and your Mother and Daughter Team agents will want to visit your future house. This "walk-through" is an opportunity to ensure that the house has been left in the expected condition. You should make sure that all the items the owner agreed to leave are still there, such as kitchen appliances. This may also include furniture and accessories listed in the final sales contract. If there are problems, discuss them with your agent and attorney. In some cases, you can ask for a discount or credit at the closing to cover missing items or last-minute damages to the property.
The Closing
To be knowledgeable and prepared, ask your agents and attorney to go over the details of the closing with you beforehand. The closing process can vary by area of the country and even within the same state. Generally, the seller is required to provide clean title to the property at closing. Your Mother and Daughter Team agents, mortgage lender representative, and real estate attorney/legal counsel can help you make sure all documents are provided and steps followed.
FUNDING
It's also important to review your credit report. This is a record of past and current debt that states when, how and if you paid. Make sure that the information contained in your credit report is accurate. By reviewing your credit report now, you'll have the opportunity to correct an errors. Ask your Agent to help you get a copy of your credit report to review. Don't wait until you've found a home to do this. Do it now. (see funding for more info)
Mortgage Pre-approval
A pre-approval is a simple calculation done by a mortgage lender that tells you (a) the amount you'll be able to finance through a loan and (b) what your monthly payment will be. When you find a home to buy, a pre-approval also reassures the seller that you have the financial means to purchase his or her home.
Once you know the amount the bank will lend you, the next step is to determine how much to save for your down payment. This will help you define the types of homes within your budget. Keep in mind the monthly costs associated with home ownership include not only your mortgage payment, but also real estate taxes, homeowner's insurance and utilities.
Your Down Payment
A down payment is the money you pay up front toward the purchase of your new home. Typically, the larger your down payment, the less you pay each month on the mortgage, and the lower the interest costs will be over the life of the mortgage.
How large should your down payment be? Many people make down payments of 5%, 10% or 20% of the sales prices of the homes they buy.
Your Mortgage
Your options for financing the home you find depend on your personal financial situation and your unique needs. Ask your agent for guidance about contacting mortgage lenders and getting a Mortgage Pre-approval. This will help you gauge how much you can afford to spend on a home and the financing options available to you. Here's an overview of typical financing
Knowledge Is Power ...
Accurate Information Is Essential Knowledge is power become an educated consumer because misinformation can get in your way. First, learn about the process and requirements for buying a home. Choosing Your Real Estate Professional Deciding to find and buy a home is one of the most important decisions of your life. It combines your personal hopes and dreams with wanting what's best for you and your family. It means making changes. That's why it's in your best interest to choose an experienced real estate agent who listens to and understands your needs, and works in the area where you want to live.
Reduce the Stress, Develop a Financial Plan
You can reduce the stress of home buying by thinking ahead. Before you find a home you want to purchase, develop a financial plan. This plan becomes your guide not only for saving money for the down payment, but also for covering other expenses such as your credit check, mortgage application and closing costs.
Establishing Credit
Having an established credit history plays an important role in the home buying process. It's never too soon to start building a good credit history. Start by diversifying how you pay for things; don't pay for everything with cash. Pay your bills on time, limit your debt, reduce the number of credit cards you have, and use them responsibly. Your goal is to show that you are financially responsible and a "good credit risk."
Closing and Other Additional Costs
After you find a home and receive mortgage approval, the closing is when ownership of your new home officially transfers from the seller to you. In some cases, sellers pay the closing costs. If not, you need to be prepared to pay this additional cost. This can add another two to five percent to the home purchase price. These costs also can vary from state to state.
Finding A Home …Your Search
Where do you start when you're ready to find a home? You'll want to have an idea of the features you "want" versus "need" in a home to help your Mother and Daughter Team agents guide you in a successful home search. Then the fun begins!
Making An Offer
When you find a home you want to buy, you'll make the seller an offer in writing. Your offer is typically the first step toward negotiating a sales contract. That's why determining how much to offer is more complex than simply determining a price. Because of the large amount of money involved, both the buyer and the seller need to protect their investments and limit their risk. This is why when you make an offer, you not only specify the price you are willing to pay, but also the other details of the purchase.
Contingencies
Contingencies generally allow you to anticipate potential problems so if something goes wrong, you can cancel the contract without penalty. If you cancel a contract without having agreed upon conditions and contingencies, you could find yourself forfeiting your good faith deposit and money spent to inspect the property, as well as other damages. For this reason, it's recommended you retain an attorney. Your attorney will advise you about what to include in your offer to protect yourself.
Your Good Faith Deposit
Along with your offer, you'll provide a "good faith" deposit that demonstrates to the seller your serious interest in buying. This is one of the additional costs mentioned earlier. This money is deposited only once the offer has been negotiated and accepted by both parties.
The Home Inspection
After you find a home and make an offer, a house inspection is often ordered. The seller should have the property available for inspection by a professional. In a typical inspection, experts examine the existing conditions of the property. Inspections may be required by law with the elements inspected varying by region, state, and/or your agreement. The most common type is the General Home Inspection. A home inspector can provide you with a complete service that covers from the basement to the attic, as well as the exterior of the home, walls, chimneys, and fixed appliances such as refrigerators and stoves. Other specific elements that can be included: (not a complete list)
· Termite · Plumbing · Water Quality · Lead
· Radon · Septic Tank · Asbestos · Electricity
The Final Walk
Though Before the closing and property ownership is transferred, you and your Mother and Daughter Team agents will want to visit your future house. This "walk-through" is an opportunity to ensure that the house has been left in the expected condition. You should make sure that all the items the owner agreed to leave are still there, such as kitchen appliances. This may also include furniture and accessories listed in the final sales contract. If there are problems, discuss them with your agent and attorney. In some cases, you can ask for a discount or credit at the closing to cover missing items or last-minute damages to the property.
The Closing
To be knowledgeable and prepared, ask your agents and attorney to go over the details of the closing with you beforehand. The closing process can vary by area of the country and even within the same state. Generally, the seller is required to provide clean title to the property at closing. Your Mother and Daughter Team agents, mortgage lender representative, and real estate attorney/legal counsel can help you make sure all documents are provided and steps followed.
FUNDING
It's also important to review your credit report. This is a record of past and current debt that states when, how and if you paid. Make sure that the information contained in your credit report is accurate. By reviewing your credit report now, you'll have the opportunity to correct an errors. Ask your Agent to help you get a copy of your credit report to review. Don't wait until you've found a home to do this. Do it now. (see funding for more info)
Mortgage Pre-approval
A pre-approval is a simple calculation done by a mortgage lender that tells you (a) the amount you'll be able to finance through a loan and (b) what your monthly payment will be. When you find a home to buy, a pre-approval also reassures the seller that you have the financial means to purchase his or her home.
Once you know the amount the bank will lend you, the next step is to determine how much to save for your down payment. This will help you define the types of homes within your budget. Keep in mind the monthly costs associated with home ownership include not only your mortgage payment, but also real estate taxes, homeowner's insurance and utilities.
Your Down Payment
A down payment is the money you pay up front toward the purchase of your new home. Typically, the larger your down payment, the less you pay each month on the mortgage, and the lower the interest costs will be over the life of the mortgage.
How large should your down payment be? Many people make down payments of 5%, 10% or 20% of the sales prices of the homes they buy.
Your Mortgage
Your options for financing the home you find depend on your personal financial situation and your unique needs. Ask your agent for guidance about contacting mortgage lenders and getting a Mortgage Pre-approval. This will help you gauge how much you can afford to spend on a home and the financing options available to you. Here's an overview of typical financing
Sunday, May 13, 2007
Places To Get Help For Your Small Business
Most Municipal governments have Small Business Development Centers. They also have Minority and Female Based Business Advisory boards. These are great resources for advice from a city/county/state perspective. There are resources for submitting bids, finding open requests for projects, etc... and there are possibly grants to grow your business, expand your business and hire particular types of employees.
They also have funds for renovating certain properties in central business districts or historical districts.
What you can also find there is contact information for the local chapter of Service Corps of Retired Executives (SCORE). It can be a great and inexpensive way to get some consulting from retired accountants, business managers, attorneys etc...
But where do you go when you're 2-3 years into your business and in RAPID GROWTH Mode??
This is when you just don't have time to make 100 appointments with government employees to get referred to the next appointment. This is the time when your business relies on YOU BEING ON THE JOB.
This is when you NEED to start creating your team of trusted business advisors.
Here are the basic needs and why:
1) CPA/Bookkeeper - in Rapid Growth Mode, your business is no longer in a place where you should be doing your own taxes or bookkeeping without at least professional guidance. You could have a part time bookkeeper or have a CPA set up your Quickbooks... but they need to be part of your planning and advising at this point.
Strategise for tax savings NOW!
2) Mortgage Broker - in Rapid Growth Mode, your personal and business finances are especially important. Now is the time to make sure that you're leveraged properly. You want to make sure your personal mortgage is in order. Now is NOT the time for a 15 year mortgage, a bi-weekly payment plan, or anything that ties up your money from your use. Remember - you might think that putting it in your business is an expense - but it is actually an investment and you can regain that money down the road with interest as a loan!
Speaking of which... now is the time you're probably going to start looking for new space. You're bursting at the seams and need to find something - rent or buy is your decision and your mortgage professional will be able to look at your finances and see if now is the time. If it is, he/she will be able to show you how best to finance the transaction with the LEAST STRESS on you and your business.
3) Realtor - when bursting at the seams, a Realtor can help identify the right space for you while you're working. Don't worry about shopping, calling property owners, landlords etc... contrary to popular belief, it does NOT cost more to use a Realtor in a real estate transaction.
Whether renting or buying, your realtor partner will be there to help you find the right place in the most efficient manner!
4) Attorney - hmmm...lots of people would be confused as to why I would leave this person til last. You have to have an attorney one way or another to make sure you're legally sound. I just don't push this one to the front because there are so many other professionals up there that cover a lot of the same bases. Sure, they don't do what an attorney does ... but an attorney can't do what they do either!! for example ... Attorney's can close loans, but not pick them!
Your attorney should welcome the opportunity to work hand in hand with the rest of your team. Then you'll be getting the best overall legal advice.
5) Personal Banker - if your bank doesn't know who you are or what you do... then it is time to find a smaller bank that caters to your needs as a small business owner. Any of your other professionals should know some of these people... they're not advertising like the big banks - but they will treat you better.
These are also the people most likely to help you with financial issues outside of your mortgages like merchant accounts, operating capital lines of credit, money market accounts, deposit accounts... they will also help you keep your books in good order! Sure... they'll do your mortgages too, but they will only have a few specialty loan programs so they won't be able to help you with ALL your needs.
When you've outgrown the small business groups and are ready to step into the big leagues, you probably don't even have time to do so without some major overhauling of your schedule! It will be well worth it, though to focus on identifying at least one of the first ones... they'll be able to refer the rest of the team with professionals they know, trust and work with regularly.
A good team of professionals at your service will not only save you time and money.... but grow your business for you!
Sound advice do take and cherish it.
read more here http://activerain.com/blogsview/96584/Small-Business-Real-Estate
They also have funds for renovating certain properties in central business districts or historical districts.
What you can also find there is contact information for the local chapter of Service Corps of Retired Executives (SCORE). It can be a great and inexpensive way to get some consulting from retired accountants, business managers, attorneys etc...
But where do you go when you're 2-3 years into your business and in RAPID GROWTH Mode??
This is when you just don't have time to make 100 appointments with government employees to get referred to the next appointment. This is the time when your business relies on YOU BEING ON THE JOB.
This is when you NEED to start creating your team of trusted business advisors.
Here are the basic needs and why:
1) CPA/Bookkeeper - in Rapid Growth Mode, your business is no longer in a place where you should be doing your own taxes or bookkeeping without at least professional guidance. You could have a part time bookkeeper or have a CPA set up your Quickbooks... but they need to be part of your planning and advising at this point.
Strategise for tax savings NOW!
2) Mortgage Broker - in Rapid Growth Mode, your personal and business finances are especially important. Now is the time to make sure that you're leveraged properly. You want to make sure your personal mortgage is in order. Now is NOT the time for a 15 year mortgage, a bi-weekly payment plan, or anything that ties up your money from your use. Remember - you might think that putting it in your business is an expense - but it is actually an investment and you can regain that money down the road with interest as a loan!
Speaking of which... now is the time you're probably going to start looking for new space. You're bursting at the seams and need to find something - rent or buy is your decision and your mortgage professional will be able to look at your finances and see if now is the time. If it is, he/she will be able to show you how best to finance the transaction with the LEAST STRESS on you and your business.
3) Realtor - when bursting at the seams, a Realtor can help identify the right space for you while you're working. Don't worry about shopping, calling property owners, landlords etc... contrary to popular belief, it does NOT cost more to use a Realtor in a real estate transaction.
Whether renting or buying, your realtor partner will be there to help you find the right place in the most efficient manner!
4) Attorney - hmmm...lots of people would be confused as to why I would leave this person til last. You have to have an attorney one way or another to make sure you're legally sound. I just don't push this one to the front because there are so many other professionals up there that cover a lot of the same bases. Sure, they don't do what an attorney does ... but an attorney can't do what they do either!! for example ... Attorney's can close loans, but not pick them!
Your attorney should welcome the opportunity to work hand in hand with the rest of your team. Then you'll be getting the best overall legal advice.
5) Personal Banker - if your bank doesn't know who you are or what you do... then it is time to find a smaller bank that caters to your needs as a small business owner. Any of your other professionals should know some of these people... they're not advertising like the big banks - but they will treat you better.
These are also the people most likely to help you with financial issues outside of your mortgages like merchant accounts, operating capital lines of credit, money market accounts, deposit accounts... they will also help you keep your books in good order! Sure... they'll do your mortgages too, but they will only have a few specialty loan programs so they won't be able to help you with ALL your needs.
When you've outgrown the small business groups and are ready to step into the big leagues, you probably don't even have time to do so without some major overhauling of your schedule! It will be well worth it, though to focus on identifying at least one of the first ones... they'll be able to refer the rest of the team with professionals they know, trust and work with regularly.
A good team of professionals at your service will not only save you time and money.... but grow your business for you!
Sound advice do take and cherish it.
read more here http://activerain.com/blogsview/96584/Small-Business-Real-Estate
Saturday, May 12, 2007
Competition in the Real Estate Industry
The FTC and DOJ released a report this week entitled Competition in the Real Estate Brokerage Industry: A Report by the Federal Trade Commission and the U.S. Department of Justice.
According to the press release, recommendations of the report include:
1. The FTC and the Department should continue to monitor the cooperative conduct of private associations of real estate brokers and bring enforcement actions in appropriate circumstances. While cooperation among brokers through a multiple listing service can provide consumers with important efficiencies, cooperation used to adopt rules that hinder rivals can be anticompetitive and, as recent agency actions indicate, may violate the antitrust laws.
2. The FTC and the Department should continue to provide state legislators and industry regulators with information concerning the competitive consequences of state legislation and regulations that threaten to or already do restrict competition and consumer choice in the real estate brokerage industry, and take enforcement action in appropriate circumstances.
State legislators and industry regulators should consider repealing existing laws, rules and regulations, such as minimum-service and anti-rebate provisions, that limit choice and reduce the ability of new brokerage models (e.g., fee-for-service brokers, discount full-service brokers, virtual office Web site brokers, and broker referral networks) to compete and that do not appear to provide any consumer benefits that would justify such restrictions. They should also avoid enacting such laws, rules and regulations in the future.
3. The FTC, Department, and industry regulators should promote consumer understanding of marketplace options. Some consumers may not be aware of the range of alternatives available to them when hiring a real estate broker, including the types of business models available and the negotiability of fees, for both home buyers and sellers, or may not understand the duties owed by their broker. Competition in the real estate brokerage industry would likely be enhanced if consumers had better access to such information.
4. The FTC, Department, and industry regulators should assess the feasibility of an empirical study of the real estate brokerage industry. Transaction-level data on commission rates and fees are not publicly available, but broad national aggregate data suggest that commission rates and fees move in tandem with housing prices. Just as a 1983 FTC study provided valuable information about how real estate brokers competed in the late 1970s and early 1980s, a new study examining how transaction-level commission rates and fees vary based on such factors as market conditions, housing prices, and regulation would provide a better understanding of the current state of competition in the real estate brokerage industry.
According to the press release, recommendations of the report include:
1. The FTC and the Department should continue to monitor the cooperative conduct of private associations of real estate brokers and bring enforcement actions in appropriate circumstances. While cooperation among brokers through a multiple listing service can provide consumers with important efficiencies, cooperation used to adopt rules that hinder rivals can be anticompetitive and, as recent agency actions indicate, may violate the antitrust laws.
2. The FTC and the Department should continue to provide state legislators and industry regulators with information concerning the competitive consequences of state legislation and regulations that threaten to or already do restrict competition and consumer choice in the real estate brokerage industry, and take enforcement action in appropriate circumstances.
State legislators and industry regulators should consider repealing existing laws, rules and regulations, such as minimum-service and anti-rebate provisions, that limit choice and reduce the ability of new brokerage models (e.g., fee-for-service brokers, discount full-service brokers, virtual office Web site brokers, and broker referral networks) to compete and that do not appear to provide any consumer benefits that would justify such restrictions. They should also avoid enacting such laws, rules and regulations in the future.
3. The FTC, Department, and industry regulators should promote consumer understanding of marketplace options. Some consumers may not be aware of the range of alternatives available to them when hiring a real estate broker, including the types of business models available and the negotiability of fees, for both home buyers and sellers, or may not understand the duties owed by their broker. Competition in the real estate brokerage industry would likely be enhanced if consumers had better access to such information.
4. The FTC, Department, and industry regulators should assess the feasibility of an empirical study of the real estate brokerage industry. Transaction-level data on commission rates and fees are not publicly available, but broad national aggregate data suggest that commission rates and fees move in tandem with housing prices. Just as a 1983 FTC study provided valuable information about how real estate brokers competed in the late 1970s and early 1980s, a new study examining how transaction-level commission rates and fees vary based on such factors as market conditions, housing prices, and regulation would provide a better understanding of the current state of competition in the real estate brokerage industry.
10 TIPS FOR BUYING OR SELLING REAL ESTATE
In the market to buy or sell real estate? Follow these tips from the people behind the HGTV program "Bought & Sold" to make the process easier.
1. Arranging an open house to attract potential buyers doesn't necessarily work. Nosy neighbors and real estate agents will be attracted to the event but not serious buyers.
2. Despite conventional wisdom, the smell of baking cookies does not make a home more appealing to potential buyers. To enhance the chances of selling a home, ensure that the home always looks and smells good, and is well-lit inside and out.
3. Hire a home-stager to help maximize your furniture and accessories. An expert can help rearrange these items to make each room look more appealing.
4. Flipping real estate is great, but be sure to hire an agent with house-flipping experience. First-timers should start with a smaller project to get familiar with the process.
5. Reduce the asking price if there are no takers within the first month. If selling the home is a top priority, reduce the price substantially. It lets potential buyers know that you are serious about selling.
6. A good listing agent can usually point out property damage, such as termites or asbestos, that could become an inspection problem.
7. Roofs, air-conditioning units, wet basements with drainage problems, and major structural issues such as dry-rotted or cracked support beams, are usually the most costly issues uncovered during home inspections.
8. Many people interview agents to list their home for sale but never consider interviewing them to help them look for a new home. Both endeavors are equally important.
9. Interview several real estate agents before selecting the one for you. It is important to meet with at least three. Don't feel obligated to accept the one that an agency assigns to you.
10. Don't ask your agent for predictions. In a fluctuating real estate market, no one can predict what will happen during the buying and selling process.
1. Arranging an open house to attract potential buyers doesn't necessarily work. Nosy neighbors and real estate agents will be attracted to the event but not serious buyers.
2. Despite conventional wisdom, the smell of baking cookies does not make a home more appealing to potential buyers. To enhance the chances of selling a home, ensure that the home always looks and smells good, and is well-lit inside and out.
3. Hire a home-stager to help maximize your furniture and accessories. An expert can help rearrange these items to make each room look more appealing.
4. Flipping real estate is great, but be sure to hire an agent with house-flipping experience. First-timers should start with a smaller project to get familiar with the process.
5. Reduce the asking price if there are no takers within the first month. If selling the home is a top priority, reduce the price substantially. It lets potential buyers know that you are serious about selling.
6. A good listing agent can usually point out property damage, such as termites or asbestos, that could become an inspection problem.
7. Roofs, air-conditioning units, wet basements with drainage problems, and major structural issues such as dry-rotted or cracked support beams, are usually the most costly issues uncovered during home inspections.
8. Many people interview agents to list their home for sale but never consider interviewing them to help them look for a new home. Both endeavors are equally important.
9. Interview several real estate agents before selecting the one for you. It is important to meet with at least three. Don't feel obligated to accept the one that an agency assigns to you.
10. Don't ask your agent for predictions. In a fluctuating real estate market, no one can predict what will happen during the buying and selling process.
Tuesday, May 8, 2007
General Shinseki Vindicated
Its interesting that President Bush said, the Democratic-led Congress shouldn't be telling the generals how to handle the Bush's Iraq war or micromanage his war. However, if the Republican-led Congress had done their job at the time, we wouldn't even be in this waror the resulting mess of this war.
General Shinseki said at the start of the war, several hundred thousand troops were needed, who listened to him? he was a general with knowledge of what was needed. Who was micromanaging then instead of the generals?
Donald Rumsfeld retired in shame rather ran out of office. Paul Wolfowitz is now at World Trade Bank causing another scandal. Gen Tommy Franks, nowretired supported Rumsfeld. Gen. Richard Myers is now retired. These folks escaped the fiasco they created or allowed to be created. Those, who were micromanaging the war into this quagmire we now have, have left the governement. The excuse, mistkaes were made, is an understatement as many soldiers and citizens have died needlessly. President Bush said we are fighting the global war on terror but we are in Iraq not Afghanistan where the terrorists are. Iraq had nothing to do with 9/11 or terrorism we experienced. Since we have devoted all our resources to fighting in Iraq we arent fighting the global war on terror. President Bush and his co-horts actually think USA citizens can't see through their smoke screen.
The judgment of how many troops would be needed to invade Baghdad and secure the country in the months ahead should have been based on military knowledge. Months before the invasion, Shinseki, then the Army chief of staff, told the Senate Armed Service Committee that occupying Iraq would require "several hundred thousand troops," partly because of "the kinds of ethnic tensions that could lead to other problems."
Shinseki, the first Japanese-American to wear four stars, was the right man to ask that question, having successfully commanded the NATO peacekeeping force in Bosnia. However, his estimate was quickly denounced by Paul D. Wolfowitz, then Rumsfeld's deputy at the Pentagon, as "wildly off the mark," and the secretary repeated that sentiment. Shinseki was shunned and set for retirement; Rumsfeld did not attend his retirement ceremony.
General Shinseki said at the start of the war, several hundred thousand troops were needed, who listened to him? he was a general with knowledge of what was needed. Who was micromanaging then instead of the generals?
Donald Rumsfeld retired in shame rather ran out of office. Paul Wolfowitz is now at World Trade Bank causing another scandal. Gen Tommy Franks, nowretired supported Rumsfeld. Gen. Richard Myers is now retired. These folks escaped the fiasco they created or allowed to be created. Those, who were micromanaging the war into this quagmire we now have, have left the governement. The excuse, mistkaes were made, is an understatement as many soldiers and citizens have died needlessly. President Bush said we are fighting the global war on terror but we are in Iraq not Afghanistan where the terrorists are. Iraq had nothing to do with 9/11 or terrorism we experienced. Since we have devoted all our resources to fighting in Iraq we arent fighting the global war on terror. President Bush and his co-horts actually think USA citizens can't see through their smoke screen.
The judgment of how many troops would be needed to invade Baghdad and secure the country in the months ahead should have been based on military knowledge. Months before the invasion, Shinseki, then the Army chief of staff, told the Senate Armed Service Committee that occupying Iraq would require "several hundred thousand troops," partly because of "the kinds of ethnic tensions that could lead to other problems."
Shinseki, the first Japanese-American to wear four stars, was the right man to ask that question, having successfully commanded the NATO peacekeeping force in Bosnia. However, his estimate was quickly denounced by Paul D. Wolfowitz, then Rumsfeld's deputy at the Pentagon, as "wildly off the mark," and the secretary repeated that sentiment. Shinseki was shunned and set for retirement; Rumsfeld did not attend his retirement ceremony.
Sunday, May 6, 2007
Real Estate Agents vs Snake Oil Salesman
“‘We’re in a real estate recession,’ said David Lereah, chief economist for the National Association of Realtors, who surprised many this week when he announced he would leave the Chicago-based trade group on May 19. ‘I’m projecting the first [nationwide] price drop since the Great Depression,’ he said. ‘We’re going to have negative home prices in 2007.’”
“‘He promotes housing,’ said Washington economist Dean Baker. ‘Certainly, people who were making decisions to move, they either heard David directly or from someone who heard from David that home prices will never fall, don’t worry, the market will stay strong. So they paid too much for a house.’”
“Lereah, in an interview Wednesday, shrugged off the criticism. ‘I feel confident I did a very good job forecasting and reflected what was happening in the marketplace,’ he said.”
It’s hard for me to have a whole lot of contempt for Lereah.
After all, he was just doing his job — which was NOT to give a fair and unbiased assessment of the RE market. His job was to be the mouthpiece for a group of people who sell houses for a living, and to maximize these people’s profits by getting Americans to buy and sell as many houses as possible at the highest possible price.
And you know what? He did a pretty good job.
For someone whose paycheck was signed by a group of house-sellers, what else would you have expected him to do? What would have been a desirable outcome? So he says prices are too high back in 2003, then he gets fired and the NAR puts someone more accommodative in, so now what?
It just goes to show Beware of Snakeoil Salesmans. If it sounds too good to be true, it probably isn't. Do your OWN homework. Crosscheck even your real estate agent as they want to get paid as well, no matter how or who is doing the paying.
Saturday, May 5, 2007
Obstruction of Justice by the White House
If the United States attorney scandal has made one thing clear, it is that the riskiest job in the Bush administration is being a prosecutor investigating a Republican member of Congress.
Carol Lam, the United States attorney in San Diego, was fired after she put Randy Cunningham, known as Duke, in prison. Paul Charlton, in Arizona, was dismissed while he was investigating Rick Renzi. Dan Bogden, in Nevada, was fired while he was reportedly investigating Jim Gibbons, a congressman who was elected governor last year.
Ms. Yang was investigating Jerry Lewis, who was chairman of the powerful House Appropriations Committee. Ms. Lam and most of the other purged prosecutors were fired on Dec. 7. Ms. Yang, in a fortuitously timed exit, resigned in mid-October.
Carol Lam, the United States attorney in San Diego, was fired after she put Randy Cunningham, known as Duke, in prison. Paul Charlton, in Arizona, was dismissed while he was investigating Rick Renzi. Dan Bogden, in Nevada, was fired while he was reportedly investigating Jim Gibbons, a congressman who was elected governor last year.
Ms. Yang was investigating Jerry Lewis, who was chairman of the powerful House Appropriations Committee. Ms. Lam and most of the other purged prosecutors were fired on Dec. 7. Ms. Yang, in a fortuitously timed exit, resigned in mid-October.
Bush Won't Fire Gonzales
Already, the Senate is outlining conditions for confirming a Gonzales successor. Sen. Patrick Leahy, D-Vt., head of the Judiciary Committee, said that his panel wouldn't hold confirmation hearings unless Karl Rove and other White House aides testify about the firing of U.S. attorneys to clarify whether "the White House has interfered with prosecution."
Rather than face such scrutiny, the White House may prefer keeping a drastically weakened Gonzales in place. But doing so exacts a high price for the Justice Department and the nation. It damages department morale and credibility, undermines its ability to recruit and could affect perceptions of federal prosecutors, jeopardizing important cases. By retaining Gonzales to preempt Senate action, the president has signaled that this is a price he is willing to make the nation pay.
Rather than face such scrutiny, the White House may prefer keeping a drastically weakened Gonzales in place. But doing so exacts a high price for the Justice Department and the nation. It damages department morale and credibility, undermines its ability to recruit and could affect perceptions of federal prosecutors, jeopardizing important cases. By retaining Gonzales to preempt Senate action, the president has signaled that this is a price he is willing to make the nation pay.
Bush's New Definition of Victory in Iraq
Bush has simply defined "victory" as a decrease in sectarian violence, and doesn't really talk about the "strong ally" (or ally, period), or about the shining democracy that will make dictators across the Middle East tremble. Heck, we don't even care about car bombings, unemployment, a deadlocked Parliament, or refugees in the new picture of "success".
Robert Gates has even gone so far as to suggest that that Iraqis kicking us out would be considered "victory".
Robert Gates has even gone so far as to suggest that that Iraqis kicking us out would be considered "victory".
Lack of Diversity in Bush's Justice Department
John Conyers, while investigating Attorneygate, has learn there is a lack of diversity in the Justice Department. I am not surprised but I am syrprised that John Conyers is.
Congressman John Conyers: "They need someone to investigate them."
Since 2003...the criminal section within the Civil Rights Division has not hired a single black attorney to replace those who have left. Not one.
Out of fifty attorneys in the Criminal Section - only two are black.
The same number the criminal section had in 1978 - even though the size of the staff has more than doubled.
read more here http://www.wjla.com/news/stories/0507/420376.html
Congressman John Conyers: "They need someone to investigate them."
Since 2003...the criminal section within the Civil Rights Division has not hired a single black attorney to replace those who have left. Not one.
Out of fifty attorneys in the Criminal Section - only two are black.
The same number the criminal section had in 1978 - even though the size of the staff has more than doubled.
read more here http://www.wjla.com/news/stories/0507/420376.html
Friday, May 4, 2007
Harriet Miers focused on Debra Yang.
Ms. Yang was investigating Jerry Lewis, who was chairman of the powerful House Appropriations Committee. Ms. Lam and most of the other purged prosecutors were fired on Dec. 7. Ms. Yang, in a fortuitously timed exit, resigned in mid-October.
Ms. Yang says she left for personal reasons, but there is growing evidence that the White House was intent on removing her. Kyle Sampson, the Justice Department staff member in charge of the firings, told investigators last month in still-secret testimony that Harriet Miers, the White House counsel at the time, had asked him more than once about Ms. Yang.
He testified, according to Congressional sources, that as late as mid-September, Ms. Miers wanted to know whether Ms. Yang could be made to resign.
Yang's resignation, as has been discussed here before, found her land at the powerful Gibson, Dunn & Crutcher firm with a nice bonus. We don't know if they enticed her to leave public service or recruited her after the resignation, but as Cohen says, these questions should be asked under oath.
Well well With Ms Yang working at the Gibson, Dunn & Crutcher with a nice bonus and the firm defending Mr Lewis, I suppose she will tell all the evidence against Mr Lewis. So he should get off nice.
It must be nice to be Republican, have a brain like a Karl Rove, a nominess for Supreme Court who loves like a dove but is really a vulture while smiling, and an attorney general who cant remember, and a war with the insurgents "in their last throes" for 3 years.
Ms. Yang says she left for personal reasons, but there is growing evidence that the White House was intent on removing her. Kyle Sampson, the Justice Department staff member in charge of the firings, told investigators last month in still-secret testimony that Harriet Miers, the White House counsel at the time, had asked him more than once about Ms. Yang.
He testified, according to Congressional sources, that as late as mid-September, Ms. Miers wanted to know whether Ms. Yang could be made to resign.
Yang's resignation, as has been discussed here before, found her land at the powerful Gibson, Dunn & Crutcher firm with a nice bonus. We don't know if they enticed her to leave public service or recruited her after the resignation, but as Cohen says, these questions should be asked under oath.
Well well With Ms Yang working at the Gibson, Dunn & Crutcher with a nice bonus and the firm defending Mr Lewis, I suppose she will tell all the evidence against Mr Lewis. So he should get off nice.
It must be nice to be Republican, have a brain like a Karl Rove, a nominess for Supreme Court who loves like a dove but is really a vulture while smiling, and an attorney general who cant remember, and a war with the insurgents "in their last throes" for 3 years.
Rove's Hall of Infamy
WASHINGTON -- Following fresh allegations of partisan bias in the Justice Department, Sen. Arlen Specter (R., Pa.) said yesterday that the department was "dysfunctional" and would be better off without embattled Attorney General Alberto R. Gonzales at its helm. Specter said it was President Bush's prerogative to fire Gonzales and refused to call for the attorney general's ouster. But the ranking Republican on the Judiciary Committee said there was a "likelihood" that Bush would act once the clamor from Congress abated.
"I think there's a distinct possibility, maybe probability, that the president will act on his own," Specter said in an interview. "I think the president is more likely to fire him if he's not being told what to do . . . if he didn't have the 'anvil chorus' coming down all around him and making it appear like he's yielding to pressure."
On Wednesday, the Justice Department announced that it was investigating whether Monica Goodling, former senior adviser to Gonzales, tried to determine the political affiliation of job applicants before they were hired as prosecutors. Such a determination may violate federal civil-service laws. The inquiry is part of a much wider-ranging probe by the House and Senate Judiciary Committees of the circumstances relating to last year's dismissals of eight U.S. attorneys.
Two of the dismissed attorneys, Paul Charlton of Phoenix and John McKay of Seattle, released statements Wednesday saying they were threatened by Deputy Attorney General Paul McNulty's chief of staff before Gonzales testified in the Senate in January.
Charlton and McKay said that the chief of staff, Michael Elston, suggested that Gonzales would not discuss their dismissals in his testimony if the two men did not publicly speak about their firings.
Specter said he was concerned with these allegations. "That's dead wrong to try to silence these people from testifying and to issue a threat that if they do, there will be retaliation in Gonzales' testimony," the senator said.
"That's intimidation." Specter said he was also troubled with reports that Goodling used political affiliation in hiring decisions. "I want to take a look at what the Hatch Act says and what the civil-service requirements are," he said, referring to the federal statute that circumscribes political activity by federal employees.
In the ongoing investigations of why the prosecutors were fired and what role, if any, the White House played in the dismissals, it has been disclosed that Gonzales delegated to Goodling and D. Kyle Sampson, his former chief of staff, the hiring and firing of political appointees and senior executives who did not require Senate confirmation.
Specter said he was "infuriated" by this revelation, particularly since the attorney general has professed little, if any, knowledge about the dismissals. "I'm really angry about it. Outlandish," Specter said. "That guy would testify that he didn't know what was going on and he signed a written delegation of authority," he said of Gonzales. "I have grave questions about whether the attorney general can delegate that authority."
Despite all the accumulating accusations of political bias in the Gonzales-run Justice Department, Specter tiptoed up to the waterline of demanding the attorney general's ouster but would not plunge in. "The decision on whether to fire him or not is the president's," Specter said. "I'm not going to tell the president how to run the executive branch."
Carl Tobias, a constitutional authority at the University of Richmond Law School and an avid Specter-watcher, said the senator's position was not surprising, given the lack of cooperation by the Justice Department and the White House to provide "sufficient information" about what really happened. "Specter may also be exhibiting a healthy respect for the separation of powers and presidential prerogatives about the selection of cabinet members," Tobias said.
Specter said that he had given the president "all the facts" he knew about the case, as well as some advice, but he would not disclose what was said. Judiciary Committee Chairman Patrick J. Leahy (D., Vt.) and Specter are drafting a letter to the Justice Department asking about the nature of the ongoing investigations and whether the U.S. attorneys were asked to resign because they were pursuing matters that headquarters didn't want them to pursue.
"It's a ticklish question to ask because of the confidentiality of those investigations," Specter said. "Now there's sufficient grounds to pursue this. . . . It's not just fishing. It has the potential to be a real blow-up."
Source: Copyright (c) 2007, The Philadelphia Inquirer. Distributed by McClatchy-Tribune Information Services.
Anyone knows Rove wanted these attorneys to investigate only Democrats. His thinking, people dont read the newspapers to compare corruption of Democrats or Republicans, they will just vote Republicans.
"I think there's a distinct possibility, maybe probability, that the president will act on his own," Specter said in an interview. "I think the president is more likely to fire him if he's not being told what to do . . . if he didn't have the 'anvil chorus' coming down all around him and making it appear like he's yielding to pressure."
On Wednesday, the Justice Department announced that it was investigating whether Monica Goodling, former senior adviser to Gonzales, tried to determine the political affiliation of job applicants before they were hired as prosecutors. Such a determination may violate federal civil-service laws. The inquiry is part of a much wider-ranging probe by the House and Senate Judiciary Committees of the circumstances relating to last year's dismissals of eight U.S. attorneys.
Two of the dismissed attorneys, Paul Charlton of Phoenix and John McKay of Seattle, released statements Wednesday saying they were threatened by Deputy Attorney General Paul McNulty's chief of staff before Gonzales testified in the Senate in January.
Charlton and McKay said that the chief of staff, Michael Elston, suggested that Gonzales would not discuss their dismissals in his testimony if the two men did not publicly speak about their firings.
Specter said he was concerned with these allegations. "That's dead wrong to try to silence these people from testifying and to issue a threat that if they do, there will be retaliation in Gonzales' testimony," the senator said.
"That's intimidation." Specter said he was also troubled with reports that Goodling used political affiliation in hiring decisions. "I want to take a look at what the Hatch Act says and what the civil-service requirements are," he said, referring to the federal statute that circumscribes political activity by federal employees.
In the ongoing investigations of why the prosecutors were fired and what role, if any, the White House played in the dismissals, it has been disclosed that Gonzales delegated to Goodling and D. Kyle Sampson, his former chief of staff, the hiring and firing of political appointees and senior executives who did not require Senate confirmation.
Specter said he was "infuriated" by this revelation, particularly since the attorney general has professed little, if any, knowledge about the dismissals. "I'm really angry about it. Outlandish," Specter said. "That guy would testify that he didn't know what was going on and he signed a written delegation of authority," he said of Gonzales. "I have grave questions about whether the attorney general can delegate that authority."
Despite all the accumulating accusations of political bias in the Gonzales-run Justice Department, Specter tiptoed up to the waterline of demanding the attorney general's ouster but would not plunge in. "The decision on whether to fire him or not is the president's," Specter said. "I'm not going to tell the president how to run the executive branch."
Carl Tobias, a constitutional authority at the University of Richmond Law School and an avid Specter-watcher, said the senator's position was not surprising, given the lack of cooperation by the Justice Department and the White House to provide "sufficient information" about what really happened. "Specter may also be exhibiting a healthy respect for the separation of powers and presidential prerogatives about the selection of cabinet members," Tobias said.
Specter said that he had given the president "all the facts" he knew about the case, as well as some advice, but he would not disclose what was said. Judiciary Committee Chairman Patrick J. Leahy (D., Vt.) and Specter are drafting a letter to the Justice Department asking about the nature of the ongoing investigations and whether the U.S. attorneys were asked to resign because they were pursuing matters that headquarters didn't want them to pursue.
"It's a ticklish question to ask because of the confidentiality of those investigations," Specter said. "Now there's sufficient grounds to pursue this. . . . It's not just fishing. It has the potential to be a real blow-up."
Source: Copyright (c) 2007, The Philadelphia Inquirer. Distributed by McClatchy-Tribune Information Services.
Anyone knows Rove wanted these attorneys to investigate only Democrats. His thinking, people dont read the newspapers to compare corruption of Democrats or Republicans, they will just vote Republicans.
Now aint Rove surprised by the outcome of the 2006 election and now his cartel is being investigated. Rove wanted the Republican Party to be remembered and be in control for as long as time. Well, Republican Party is going to be remembered. I am sure the printing presses are in full swing. Rove wanted the Republican Party in control but of what?? Well the Republican Party is in control, in control of missdeeds, missteps, and misfires.
Long live the Republican party in the Halls of Infamy.
USA, The High Cost of Eating Cheaper Or Getting Cheaper Products
Its sad when USA has to depend in another country to feed its citizens; however, its reprehensible that USA depends upon a country like China as this report reveals:
The United States is increasingly relying on other nations for its food supply, including communist China. China's food and agricultural injury has an absolutely appalling track record for safety and quality. But that hasn't inspired any American oversight or concern.
In fact, as Kitty Pilgrim reports, that track record could have a devastating impact on Americans.(BEGIN VIDEOTAPE)
KITTY PILGRIM, CNN CORRESPONDENT (voice-over): The United States is importing tons of food and food additives from China. Imports of Chinese food and agricultural products have soared 400 percent in the last 15 years. Nobody knows how much of it is safe.
MICHAEL DOYLE, CENTER FOR FOOD SAFETY: In China, a lot of small farmers that use lots of antibiotics and pesticides that in some instances are not approved for use in the United States. So there's lots of possibilities where things can go wrong.
PILGRIM: The Chinese themselves suffer from contaminated food and water. The U.N. estimates 300 million Chinese every year suffer food poisoning. Sometimes, it's substandard sanitation, such as the 100 restaurant goers hospitalized after eating bad snails. Sometimes deliberate fraud. A Chinese company was caught making lard from sewage. Farmers were caught adding cancer-causing dye to duck feed to enhance the eggs. Pollution from industrial production or toxic accidents find their way into the water and subsequently into the food chain in China. Some of that food may be shipped to the United States. Almost all of it, untested and uninspected.
MICHAEL TAYLOR, FORMER FDA OFFICIAL: No amount of inspection is going to be sufficient if we don't have confidence in the conditions under which food is proud, wherever it's produced in the world.
PILGRIM: A look at the FDA violation code lists sanitary citations on imports from China. One entry reads, "A cosmetic product may have been prepared or packed under unsanitary conditions whereby it may have been contaminated with filth."A food import reads, "The article consists, in whole or in part, of a filthy, putrid or decomposed substance, unfit for food."Or another, "The article appears to contain hepatitis A virus."
PILGRIM: A congressional hearing this week on the pet food poisoning revealed U.S. importers often don't test the products they import from China. And 99 percent of them go unscreened by the U.S. government and authorities until a consumer gets sick. No one is aware of the problem, Lou.
DOBBS: I just have to stay astonishing. The idea that the federal government continues to -- as our food imports now are rising to just about a little over 20 percent of our total food supply.The FDA doing almost nothing -- I think 1 percent would be almost nothing -- to inspect the safety of what people are consuming in this country. And there's a great -- you know, hullabaloo about pet food as there should be. But the idea no one is examining this issue.
PILGRIM: You know, to read down the list of what they caught is almost scarier, because 99 percent of it wasn't inspected. So you wonder what they didn't catch.
DOBBS: Exactly. And I'm certainly glad -- it's very reassuring after you point that out, Kitty. Thanks very much. Kitty Pilgrim. Somebody in Washington, wake up, please!
I am shocked and horrified about this report as anyone who have seen or read it. However, I am more shocked that our leaders aren't paying more attention. Can't they chew gum and walk at the same time?
Bush still running around for those phantom WMD in Iraq as he has to be RIGHT.
"Lou Dobbs concluded his remarks on this segment by pleading for 'somebody in Washington' to 'wake up!' But are they asleep in Washington? Are they so massively clueless and inept and useless that they really are not aware of these things? If so, then they have no business governing anyone or 'representing' us. If, however, they are aware of how things are done in China, and of the general prevalence of squalid Third World standards and lack of oversight, and yet they still avidly push importing more and more from China, then they are more than derelict; the obvious conclusion would be that they do not care about American citizens, about our health and our safety."
We have Walmart to thank for many companies going to China for products. Walmart wouldnt allow companies to supply the Walmart's stores unless the companies got costs under control. That control Walmart portends was for the compnaies to get supplies, products, merchandise from China.
Thanks Walmart for saving me a penny while allowing China to kill me.
read more here http://www.fastcompany.com/magazine/77/walmart.html
The United States is increasingly relying on other nations for its food supply, including communist China. China's food and agricultural injury has an absolutely appalling track record for safety and quality. But that hasn't inspired any American oversight or concern.
In fact, as Kitty Pilgrim reports, that track record could have a devastating impact on Americans.(BEGIN VIDEOTAPE)
KITTY PILGRIM, CNN CORRESPONDENT (voice-over): The United States is importing tons of food and food additives from China. Imports of Chinese food and agricultural products have soared 400 percent in the last 15 years. Nobody knows how much of it is safe.
MICHAEL DOYLE, CENTER FOR FOOD SAFETY: In China, a lot of small farmers that use lots of antibiotics and pesticides that in some instances are not approved for use in the United States. So there's lots of possibilities where things can go wrong.
PILGRIM: The Chinese themselves suffer from contaminated food and water. The U.N. estimates 300 million Chinese every year suffer food poisoning. Sometimes, it's substandard sanitation, such as the 100 restaurant goers hospitalized after eating bad snails. Sometimes deliberate fraud. A Chinese company was caught making lard from sewage. Farmers were caught adding cancer-causing dye to duck feed to enhance the eggs. Pollution from industrial production or toxic accidents find their way into the water and subsequently into the food chain in China. Some of that food may be shipped to the United States. Almost all of it, untested and uninspected.
MICHAEL TAYLOR, FORMER FDA OFFICIAL: No amount of inspection is going to be sufficient if we don't have confidence in the conditions under which food is proud, wherever it's produced in the world.
PILGRIM: A look at the FDA violation code lists sanitary citations on imports from China. One entry reads, "A cosmetic product may have been prepared or packed under unsanitary conditions whereby it may have been contaminated with filth."A food import reads, "The article consists, in whole or in part, of a filthy, putrid or decomposed substance, unfit for food."Or another, "The article appears to contain hepatitis A virus."
PILGRIM: A congressional hearing this week on the pet food poisoning revealed U.S. importers often don't test the products they import from China. And 99 percent of them go unscreened by the U.S. government and authorities until a consumer gets sick. No one is aware of the problem, Lou.
DOBBS: I just have to stay astonishing. The idea that the federal government continues to -- as our food imports now are rising to just about a little over 20 percent of our total food supply.The FDA doing almost nothing -- I think 1 percent would be almost nothing -- to inspect the safety of what people are consuming in this country. And there's a great -- you know, hullabaloo about pet food as there should be. But the idea no one is examining this issue.
PILGRIM: You know, to read down the list of what they caught is almost scarier, because 99 percent of it wasn't inspected. So you wonder what they didn't catch.
DOBBS: Exactly. And I'm certainly glad -- it's very reassuring after you point that out, Kitty. Thanks very much. Kitty Pilgrim. Somebody in Washington, wake up, please!
I am shocked and horrified about this report as anyone who have seen or read it. However, I am more shocked that our leaders aren't paying more attention. Can't they chew gum and walk at the same time?
Bush still running around for those phantom WMD in Iraq as he has to be RIGHT.
"Lou Dobbs concluded his remarks on this segment by pleading for 'somebody in Washington' to 'wake up!' But are they asleep in Washington? Are they so massively clueless and inept and useless that they really are not aware of these things? If so, then they have no business governing anyone or 'representing' us. If, however, they are aware of how things are done in China, and of the general prevalence of squalid Third World standards and lack of oversight, and yet they still avidly push importing more and more from China, then they are more than derelict; the obvious conclusion would be that they do not care about American citizens, about our health and our safety."
We have Walmart to thank for many companies going to China for products. Walmart wouldnt allow companies to supply the Walmart's stores unless the companies got costs under control. That control Walmart portends was for the compnaies to get supplies, products, merchandise from China.
Thanks Walmart for saving me a penny while allowing China to kill me.
read more here http://www.fastcompany.com/magazine/77/walmart.html
Wednesday, May 2, 2007
A Few Renting Tips
Dress in a ìbusiness casualî fashion when looking at apartments and houses. Consider it almost like a job interview! The prospective landlord is looking for the best ìcandidateî for their rental - and appearance does count.
Some landlords will require an application before they will consider you as a tenant. Gather the following information beforehand: Social Security number, Driverís License, Rental History (name & phone number of previous rentals, including time rented), Job History, 3 personal and 3 work references, and monthly payment information (credit cards, loans, etc.
If you call on a listing and it has been rented, donít hesitate to ask if the landlord has another property that they would like to rent. Or, they may have a fellow rental property owner that is looking to fill a vacancy.
Pets are a sure way to lessen your chances for finding a suitable apartment or home to rent at a reasonable price. You will generally pay a higher security deposit and a higher monthly rent. And, the place you do find may have pet damage (carpets) from the previous renter. If at all possible, wait to get pets until you can purchase your own house.
You should also consider the quality of your landlord when renting. Ask your friends or family that rent their dwelling about their landlord - and then find out if that landlord has properties available for rental.
Consider choosing a C.P.L. (Certified Professional Landlord) listed on this web site. These individuals aspire to high standards of professionalism in taking care of their tenants and properties.
your landlord may not:
Refuse to let you make reasonable modifications to your dwelling or common use areas, at your expense, if necessary for the disabled person to use the housing. (Where reasonable, the landlord may permit changes only if you agree to restore the property to its original condition when you move.)
Refuse to make reasonable accommodations in rules, policies, practices or services if necessary for the disabled person to use the housing.
Example: A building with a "no pets" policy must allow a visually impaired tenant to keep a guide dog.
Example: An apartment complex that offers tenants ample, unassigned parking must honor a request from a mobility-impaired tenant for a reserved space near her apartment if necessary to assure that she can have access to her apartment.
RIGHTS AGAINST RETALIATION
Although the landlord of a Tenant at Will can terminate the tenancy or raise the rent without reason, s/he cannot do so in response to the tenant's exercising his or her legal rights. If the landlord tries to raise your rent, terminate or otherwise change your tenancy within six months of when you contact the Board of Health, join a tenants' organization, or exercise other legal rights, the landlord's action will be considered retaliation against you.
Late Payment Penalty:
Tenants should pay rent on time. The landlord can't charge any interest or a penalty until 30 days after the due date. However, the landlord can begin the eviction process immediately -- even if the rent is only one day overdue. (MGL c 186, s 15B). The landlord also cannot use a reverse penalty clause to encourage tenants to pay early. For example, it is illegal for a landlord who charges $400 per month to reduce the rent by 10% if the rent is paid within the first five days of the month.
Check with the landlord to see if subletting is allowed. In most cases, leases have a provision for subletting with the landlord's permission. If the lease does not permit subletting, and you sublet, you could be sued for breaking the lease.
TYPES OF TENANCY AGREEMENTS:
Written Rental Agreements: According to state consumer protection regulations (940 CMR 3.17(3b)), a landlord must include the following in a written rental agreement:
*The names, addresses, and telephone numbers of the owners and any other persons who are responsible for the care, maintenance and repair of the property;
*The name, address and telephone number of the person authorized to receive notices of violations of law and to accept notice of lawsuit on half of the owner;
*The amount of the security deposit and disclosure of rights under the Security Deposit Law.
Verbal Rental Agreements: You and the landlord may agree verbally to the terms of your tenancy. However, it is safer to get all terms in writing.
Lease: A lease is merely a contract form which has been adapted for use by an individual landlord. The lease should clarify the rights and responsibilities of both the tenant and the landlord. ALWAYS READ YOUR LEASE BEFORE SIGNING. If wording is unclear, ask for an explanation. Within 30 days after the lease is signed, the landlord is required to furnish you with a copy for your records. If the landlord does not give you a copy within the allotted 30 days, s/he can be fined up to $300. Any provision which conflicts with the law or requires you, as a tenant or prospective tenant, to waive your rights is void and unenforceable (MGL c 186,s 15B).
Types of Leases:
A standard fixed-term lease typically runs for a 12-monthperiod and may or may not be renewed after the period expires. A self-extending lease is one which automatically renews itself if neither the landlord nor the tenant gives formal notice that there will be no renewal by the date specified in the lease.
Remember:
*Describe in the lease all rental terms, conditions, and charges. During the lease term, the landlord cannot add a charge for the use of facilities that were available at no cost when the lease was signed.
*Check that all blanks appearing in the lease have been filled in and that the agreed upon rent is stated.
*Write into the lease all verbal promises, additional clauses or clarifications made by either party. Both you and the landlord must initial each change.
Some landlords will require an application before they will consider you as a tenant. Gather the following information beforehand: Social Security number, Driverís License, Rental History (name & phone number of previous rentals, including time rented), Job History, 3 personal and 3 work references, and monthly payment information (credit cards, loans, etc.
If you call on a listing and it has been rented, donít hesitate to ask if the landlord has another property that they would like to rent. Or, they may have a fellow rental property owner that is looking to fill a vacancy.
Pets are a sure way to lessen your chances for finding a suitable apartment or home to rent at a reasonable price. You will generally pay a higher security deposit and a higher monthly rent. And, the place you do find may have pet damage (carpets) from the previous renter. If at all possible, wait to get pets until you can purchase your own house.
You should also consider the quality of your landlord when renting. Ask your friends or family that rent their dwelling about their landlord - and then find out if that landlord has properties available for rental.
Consider choosing a C.P.L. (Certified Professional Landlord) listed on this web site. These individuals aspire to high standards of professionalism in taking care of their tenants and properties.
your landlord may not:
Refuse to let you make reasonable modifications to your dwelling or common use areas, at your expense, if necessary for the disabled person to use the housing. (Where reasonable, the landlord may permit changes only if you agree to restore the property to its original condition when you move.)
Refuse to make reasonable accommodations in rules, policies, practices or services if necessary for the disabled person to use the housing.
Example: A building with a "no pets" policy must allow a visually impaired tenant to keep a guide dog.
Example: An apartment complex that offers tenants ample, unassigned parking must honor a request from a mobility-impaired tenant for a reserved space near her apartment if necessary to assure that she can have access to her apartment.
RIGHTS AGAINST RETALIATION
Although the landlord of a Tenant at Will can terminate the tenancy or raise the rent without reason, s/he cannot do so in response to the tenant's exercising his or her legal rights. If the landlord tries to raise your rent, terminate or otherwise change your tenancy within six months of when you contact the Board of Health, join a tenants' organization, or exercise other legal rights, the landlord's action will be considered retaliation against you.
Late Payment Penalty:
Tenants should pay rent on time. The landlord can't charge any interest or a penalty until 30 days after the due date. However, the landlord can begin the eviction process immediately -- even if the rent is only one day overdue. (MGL c 186, s 15B). The landlord also cannot use a reverse penalty clause to encourage tenants to pay early. For example, it is illegal for a landlord who charges $400 per month to reduce the rent by 10% if the rent is paid within the first five days of the month.
Check with the landlord to see if subletting is allowed. In most cases, leases have a provision for subletting with the landlord's permission. If the lease does not permit subletting, and you sublet, you could be sued for breaking the lease.
TYPES OF TENANCY AGREEMENTS:
Written Rental Agreements: According to state consumer protection regulations (940 CMR 3.17(3b)), a landlord must include the following in a written rental agreement:
*The names, addresses, and telephone numbers of the owners and any other persons who are responsible for the care, maintenance and repair of the property;
*The name, address and telephone number of the person authorized to receive notices of violations of law and to accept notice of lawsuit on half of the owner;
*The amount of the security deposit and disclosure of rights under the Security Deposit Law.
Verbal Rental Agreements: You and the landlord may agree verbally to the terms of your tenancy. However, it is safer to get all terms in writing.
Lease: A lease is merely a contract form which has been adapted for use by an individual landlord. The lease should clarify the rights and responsibilities of both the tenant and the landlord. ALWAYS READ YOUR LEASE BEFORE SIGNING. If wording is unclear, ask for an explanation. Within 30 days after the lease is signed, the landlord is required to furnish you with a copy for your records. If the landlord does not give you a copy within the allotted 30 days, s/he can be fined up to $300. Any provision which conflicts with the law or requires you, as a tenant or prospective tenant, to waive your rights is void and unenforceable (MGL c 186,s 15B).
Types of Leases:
A standard fixed-term lease typically runs for a 12-monthperiod and may or may not be renewed after the period expires. A self-extending lease is one which automatically renews itself if neither the landlord nor the tenant gives formal notice that there will be no renewal by the date specified in the lease.
Remember:
*Describe in the lease all rental terms, conditions, and charges. During the lease term, the landlord cannot add a charge for the use of facilities that were available at no cost when the lease was signed.
*Check that all blanks appearing in the lease have been filled in and that the agreed upon rent is stated.
*Write into the lease all verbal promises, additional clauses or clarifications made by either party. Both you and the landlord must initial each change.
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