Fed reduces rates by 1/2 point

rates.jpgGoing against their previously released statement of not issuing any more rate adjustments, the Fed has again reduced rates by half a percent as the economy slips deeper into financial troubles. They might not have had a choice for if they do not enact such measures, the true extent of the sub-prime lending debacle might be too much for even them to handle. As Economic policy analyst Schiller places it, if the government fails to aid the economy, the current low house prices would exceed levels that were seen during the Great Depression of 1930 when America fell into one of the hardest economic situations of all time. The current crisis is getting worse but their actions may mean the difference between a manageable and a downright uncontrollable economic problem

Housing Woes = Bad Credit , or is it Bad Credit = Housing Woes

woes.jpgMortgage rates are the main culprit in the current housing crisis that has swept America by surprise leaving many people without houses and not the other way round. Many in the real estate market wish to clear this up for many are blaming them for the sub-prime credit problems which were in fact the cause of the very much unstable housing market. Forecasts of a slowing economy coupled with a rise in unemployment insurance claims have further complicated the situation preventing it from bouncing back to acceptable levels. Insurance firms are opting not to renew housing insurance due to high risks of ending up with tons of foreclosed properties that nobody wants to buy. The money market shouts “Housing Market Depression”, yet financial markets are faring worse for the US dollar is losing strength especially when the Euro is gaining ground on financial markets all over the world.

January house sales rise – Housing market crunch over?

foreclosure.jpgHardly for the instability is very much far from over with many financers declaring losses in the millions of dollars. Insurance firms reeling in resources from the housing insurance market and refocusing them on other areas which are more profitable such as in Florida where a major insurance firm is said to be leaving 50,000 home insurance policies waiting for them to expire and not offering to renew. The government has announced plans to provide safety measures to prevent further foreclosures but that might come a bit too late for it to make and impact. Even the re-funds that are being given to Americans may not be much to help them through the mortgage rut the industry is in.

The Role of a Realtor

If you are in the market for a house, or you have decided to buy property, then there is a degree of research you need to do in order to put your plan into action. You need to look around for options, look at the market trend, get in touch with the sellers of these houses to have them schedule a time wherein you can see the houses, you have to discuss mortgage agreements, prices, discounts, interest rates, and the like. There is a lot to do, which is why there are also these individuals who are trained to help you. They are called realtors.


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A realtor can do the scoping for you. You can sit and discuss what kind of house you are looking for, what your budget is, how flexible you are etc. and the realtor will do the leg work and the paper work for you. Getting a realtor may even increase the chances of you seeing houses you would otherwise not seen on your own. So if house hunting is something you are set on doing, consider getting a realtor.

What You do Better than Brokers

So there are a lot of reasons why you should get a real estate broker if you are selling property. There are a lot of ways a real estate broker can make things much easier for you. He or she should be trained to do all the administrative work for starters. He or she will be the one to field calls, sift through inquiries for serious buyers, arrange for viewing schedules, go to the viewing and pitch your house in the best possible way. A real estate broker also has the network to market your home. But there is something you can do better than any broker and will not cost a cent.

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A house is always marketed better when a prospective buyer can see a future in it. You can make the house a home. In this love month, for example, use bouquets and little gifts as personal items to make the house homier. These touches can only come from someone who has lived in the house. So when marketing your place, remember the things you can add to the pciture.

Focus on Decorating for Green

Selling houses, buying houses, looking for agents, advertising, marketing, research, decisions- all of this can get pretty hectic, stressful, and confusing. Let us take a moment to step away from all this and look at the house itself. If you are selling, there are still some easy and inexpensive ways to spruce up the house and make it more appealing. If you are buying, then there are some things you can look out for that will make your possible new purchase, better and homier.

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Planting and gardening always softens a house and makes it more comfortable, more lived-in, more personalized. If the house you are selling or the house you are looking to buy is smaller and does not have space for a garden, then creating potted plant areas inside can add to its charm while looking for these areas can be the things that will convince you to buy. Not only id this simple and relatively inexpensive, it is also good for the planet.

Realtors and the true REALTORs

realtor1.jpgDo you know that the logo and seal that states REALTOR indicates a real estates agent who are members of the National Association of Realtors, which is a self-governing body that is composed of real estates agents from all over the US? They are the true realtors for they are recognized by most states as authorized agents when it comes to property sales, purchases and rentals. The body is so trusted due to their strict adherence to a set Code of Ethics that is in accordance with common business practices. This means you get your money�s worth in advice or risk to loose it all with some other choice.

Existing Home Sales down 2.0 %

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Home sales and prices are hitting bottom hard as previously posh neighborhoods with green lawns and filled with plants and flowers are turned into barren moon-like landscapes as house sales dwindle to ever lower levels. The figures for February shows them at 5.03 million units but March has them only at 4.03 % meaning less and less are being sold. These properties include existing single-family homes, townhouses, condominiums and co-op’s. Regionally, sales were nice in the Northeast and the West but very bad for the Midwest and South as everybody is touched by the effects of the sub-prime lending market problems that has rocked the world’s financial services.

How Do You Choose?

Ok, you have a house you want to sell. You have been trying to do this for most of last year but you have had little success. In your mind, you put in your best effort to get the property moving. But you know that the more time a house for sale stays unsold in the market, the lower you may get in sales once the deal closes. And while you have been trying to cut back on costs by doing everything yourself, you realize you need help.

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How do you choose the ‘best’ broker? Truth be told, the description ‘best’ is very subjective. Naturally, you want to go with someone who has experience and success in selling houses. But more than track record, you need to research. Ask your friends for references or get feedback about the person. Reputation is a huge thing in real estate so that is a good gauge of a person’s ability. Then talk to your options and choose the person who has a great record, great feedback, and who you feel really understands you and your house.

Home Business Insurance

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What type of insurance would cover a property that is both used for residential and business purposes? Is it the same product businesses get when their primary location is in the home of the owner? These are just some of the questions that may be going through the minds of businessmen who just happen to use their homes as their business address as well.

An ordinary home insurance is not fit for the purpose of the insured in this situation. Homeowners cum businessmen will find out that regular home insurance policies will not cover the specific needs of a property that is also used for business purposes. It would be ideal to look into all possible options such as those offered in http://homeownersinsurance.com/homeowners-insurance-quotes.php.

For an insurance policy to be useful, it needs to include coverage for risks that are specific to the nature of the use of the property. It is a common mistake among homeowners to presume that their businesses located in their homes will be covered by their existing home insurance policy. What the insured may not know is that he or she is actually violating the provisions of the policy by not declaring that a home also functions as a business area which could effectively void the policy.

For purposes of defining what constitutes doing business in a home in the eyes of insurance companies, a home business can be defined as any activity where money is accepted in return for goods or services rendered. Having a business name or a signage to indicate such business is not necessary to be categorized as a home business. The determination will be based on the actual use of the property.

If the existing homeowner policy does not cover a home business, it is necessary to find one which will. There are actually a number of ways to go about it. If the business is housed in a separate building from the residential home although located in the said property, homeowners can opt to get two separate policies that will cover each risk and need. Both forms of insurance will cover for the building, contents, and liability related to each. A business insurance may also provide coverage for business continuity.

Another option is to insure the home for a business insurance policy to also cover business property and liability coverage  and then cover personal property trough a renter’s insurance. If an insurance company says a home insurance policy they are offering will still cover the building in spite of the fact that a business is being conducted in the same property, it is necessary for the insured to ensure that the inclusion is written in the policy or has been acknowledged in writing by the insurance company.

About the Author

Teresa is a researcher-writer who covers a wide range of informational topics.

 

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