Archive for December, 2007
Brick With a New Twist
Posted by admin under: Main Dec 29Brick is a popular material for exteriors of homes, and it can even be seen in some trendy lofts in downtown Atlanta. A normal place that brick is seen inside a home is around the fireplace, adding a cozy feeling and a virtually maintenance-free background. But brick interior walls in other areas of Atlanta new homes are beginning to emerge as a growing trend. This warm, textural material can enhance the look of any room and make it warmer and cozier. Brick interior walls are now a sleek and modern home design trend that can help transform a room into the elegant showcase you want it to be.
Here are some new homebuilders who have utilized brick interior walls into homes throughout metro Atlanta.
Homebuilder Robert Harris Homes is on top of this emerging home trend. The model home in their custom Cobb County community, Hickory Woods, features two beautiful brick interior walls. The elegant formal dining room is offset with a brick accent wall with a niche perfect for placing an elegant dining buffet or china cabinet. Also, the game room downstairs gains some flare and modern style with another brick accent wall. The textured and color-toned wall adds a bit of prestige to the traditional billiard room.
Monte Hewett Homes used brick in the townhome model of their Heatherton community to introduce warmth in a basement space. A brick wall in the terrace level billiard room defines the atmosphere and makes it comfortable for play. In the daylight basement in Stonehaven at Vinings, Monte Hewett Homes chose stone instead of brick. In this case, the wall mimics the stone fireplace in the adjacent room, and it gives a finished look to a windowless wall. In other places, Monte Hewett Homes has been known to use brick in the breakfast area, for a true Tuscan feel.
Haven Properties utilizes brick in the wine cellar in their model home in Harmony on the Lakes, a Cherokee County TownPark community. The cellar entry is disguised by bookcases. An impressive mixture of brick walls and built-in storage within the cellar make it the envy of any wine connoisseur.
Source: Brick With a New Twist
Secured Homeowner Loans Can Be Taken For Almost Any Purpose
Posted by admin under: Main Dec 29Secured homeowner loans can be taken out for virtually any purpose but thought has to be given if the reason is worth putting the roof over your head in danger. A secured loan means that you will put something of extreme value up against the loan and in the case of a homeowner loan this is your home. The majority of lenders will use your homes equity when it comes to deciding how much you are able to borrow, but it means that throughout the term of the loan your home could be repossessed.
The amount of equity that is in your home will be decided by subtracting what you have left outstanding on your mortgage from the value of your home. What is left is called the spare equity and is the amount that lenders will allow you to borrow. If you are willing to pay a higher rate of interest then some will allow you to borrow up to 125% of the spare equity.
In order to make a search and to ensure that you search the whole of the marketplace for the cheapest rates of interest you should go with a specialist website. By going with a specialist site you can enter the criteria for the loan and then get several quotes from some of the top UK lenders and then compare them. However just as important when it comes to comparing quotes are the key facts of the loan. The key facts should come with the quotes if you use a specialist site.
It is imperative that you read them because a loan can come with hidden costs. One cost which some lenders put in is an early repayment fee. This means that if you should be lucky enough to be able to pay up the loan earlier than expected you would have to payout a lump sum. The key facts will also give such information as how much you will have to repay in interest and the total amount the loan will cost. All of this information can go a long way to helping you decide which to go for.
Secured homeowner loans can be taken out by anyone but can be valuable to those who have been turned down for a loan due to a bad credit rating. They will also usually allow you to borrow more than with a personal loan and the repayments can be spread out over a longer term. You do have to take into account that the longer you take the loan out over the more interest you will pay on the loan, but the cheaper the monthly repayments will work out at. As the loan will be secured on your home some thought to protecting the repayments should be given. You have to remember that your circumstances could change and this means that if you lost your job you would still have to find the money to pay your loan. If you falter on the loan then your home is at risk of being repossessed.
Jason Hulott is Business Development Director at Secured Loans service, PolarLoans. Visit Polar Loans now for more information about Homeowner and Secured Loans.
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Source: Secured Homeowner Loans Can Be Taken For Almost Any Purpose
Adverse Credit Secured Loans Give Those With A Poor Credit Rating Hope
Posted by admin under: Main Dec 29Adverse credit secured loans can give those who have a bad credit rating hope when it comes to taking out a loan. Your credit history and credit score goes a long way in determining how successful you are at being approved for a loan. If yours is less than perfect then you will be turned down when applying for a personal loan.
Lenders do offer adverse credit secured loans to those people who would otherwise not be able to get a loan but the rates of interest are usually higher. If you want to be sure that you have the cheapest rate of interest and best deal then make an online search with a specialist website. A specialist website will allow you to gather together quotes from some of the top lenders and search the whole of the marketplace. Along with getting quotes all on one page you should also be given the key facts of the loans and these help when comparing.
You should read the key facts as this is where you can find additional costs and the total amount you will pay. Costs that could be added onto the loan include an early repayment fee. Just as the quotes can differ then so can the small print so never overlook it.
While adverse credit secured loans do give hope to those who otherwise might not be approved, the downside to a secured loan is that your home is at risk. In order for you to be able to borrow if you have adverse credit then your home will be used as security. Usually the lender will take a look at how much equity you have in your home and you are able to borrow up to this amount. In some cases lenders will allow you to borrow up to 125% but the interest rate will be higher.
As your home is at risk if you should default on the loan serious thought has to be given as to whether the reason outweighs the risk. You also need to be sure that you can afford to take on the loan and be aware that your circumstances could change in the future. Providing that your circumstances permit it then thought should be given to loan protection. This can give you something to fall back on if you should find yourself out of work, if you are considering it then shop around for the cheapest premiums. It can also be worthwhile checking to see if the cover has already been included with the cost of the loan. Payment protection should not have been added but in the past lenders have added it on.
Adverse credit secured loans can help to repair your bad credit rating if you keep up the repayments. You will have to compromise between keeping the repayments at an affordable level each month, while at the same time keeping the term of the loan down to avoid too much interest. Even a low monthly interest rate will soon add up over several years so bear this in mind when considering how long to take the loan over.
Jason Hulott is Business Development Director at Secured Loans service, PolarLoans. Visit Polar Loans now for more information about Homeowner and Secured Loans.
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Source: Adverse Credit Secured Loans Give Those With A Poor Credit Rating Hope
Educate Yourself Before You Refinance a 2nd Mortgage
Posted by admin under: Main Dec 29There is no arguing that your home is your greatest asset. As the cost of living goes higher and higher, you may decide you want to get a second mortgage on your home. The money that you receive can be used to pay off those nagging bills and debts, do much needed maintenance or remodeling projects you’ve been putting off, or even pay for a child’s education. But you must be careful when applying for a second mortgage. You have got to be sure that you can afford the additional payment. If you are unable to make this payment you are facing the prospect of losing your home.
Maybe you have already taken out a second mortgage on your home. But as the interest rates fall, you realize that you are paying a higher interest rate than what the norm is. Consider refinancing your mortgage to obtain a better interest rate.
Even if your credit is less than perfect, you can obtain a lower payment through a better interest rate. But there are a few things that you must take into consideration before you sign those loan papers.
First of all, you should probably get the advice of a financial advisor or tax professional before you say yes to any mortgage refinance. Your mortgage lender is an expert on home mortgages, but he is not an expert on your financial situation. Therefore, it is better to get the opinion of a financial adviser before you decide to pursue refinancing.
Next, make sure that you get all finance terms and conditions in writing. Read the contract carefully and be aware of what it really says. If you are not sure of something in the mortgage contract, do not sign it. Take it to someone who can interpret it for you such as your financial advisor or your attorney. You must know what is in the contract to avoid nasty surprises later.
Before you go shopping for a second mortgage refinance, study up on the lingo. Know what the terminology and abbreviations mean. Mortgage lenders love to talk in their own language. Don’t let them take the upper hand by not knowing what they are talking about. Knowledge will give you power.
Shop around extensively. Don’t make the mistake of going with the first second mortgage lender that you come across. There is always a better deal to be found out there. Shop around until you find one that you are satisfied with. The Internet is a great source for researching lenders and various loans. You will find a goldmine online if you simply spend 30 minutes or so looking around.
There you have some great advice on a refinance 2nd mortgage. Be cautious and know what you are getting into before you sign. If you do it right, it can pay off for you in the long term.
You can find out more about how to Refinance 2nd Mortgage as well as much more information on everything to do with home mortgage refinancing at http://www.HomeMortgageRefinanceTips.net
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Source: Educate Yourself Before You Refinance a 2nd Mortgage
EMS A-Z Series - “G” Grants - Not Just For Big Red Trucks
Posted by admin under: Main Dec 29When most public safety professionals think of applying for grants, many think more of grants that are available for Fire or Police departments. After all paying for big fire engines and long term law enforcement training is a big expense that many departments cannot afford on their own or with local donations.
However, EMS stands to gain much from grants. Not only can they pay for new ambulances, but they can pay for training, equipment and more. As an example - one organization acquired a grant to pay for a multitude of training equipment to annually inservice their employees on skills not done on a day to day basis.
They sold the idea on meeting broader EMS standards and better patient care. Now that the stone is set for this, they can ask for new grants each year to update the equipment, add more skills or training and who knows what else they can work into the grant application.
Now it is important to remember that some grants are specific to what you can apply for. Some are for equipment only and others may be for a “study” project. So, read the application guidleines carefully so you don’t waste your time applying or get into trouble being awarded a grant you do not qualify for.
The whole process of applying can be quite frustrating, but it is possible. Below are some tips to point you in the right direction. It can be simpler than you think.
One thing you want to do is use the KISS principle (Keep It Simple, Silly) when writing your applications. Your proposal should not leave room for interpretation of what you are saying. Be clear and concise.
When writing your proposal ask yourself these types of questions.
“Where could your department best use the money?”
“How has a lack of funding affected your department’s ability to respond, train and operate?”
“What information and data would make your case stronger?”
By doing this before the application process starts you will be better prepared to to submit it on time with as many variables to support your request for the grant as possible.
When reading the grant submission guidleines, you may see words like “should” or “shall”. Whenever you see these words in a grant application, interpret them as being a “MUST”.
Another thing you need to address is “will it meet standards?” If the grant guidelines talk about meeting a standard, then make sure in your narrative that you quote that the equipment, training, etc., will meet the standard.
Keep in mind that many grants get rejected simply because the funding source ran out of money. There’s always next month, year etc. and there’s always another grant that can suite your needs. Don’t give up.
Grant reviewers love interagency cooperation. They actually encourage this and better yet, reward you for doing it. So when ever possible try to coordinate with other area agencies to train their officers.
Not only will more officers be proficient with the equipment, but noting this cooperation on your grant application will up your award odds.
Now, should you get a “No” on your grant request, it does not mean it will never happen. Most grant applications get rejected more times than they get funded. That old saying of a “squeaky wheel eventually gets oiled” is very true when it comes to grant writing. Persistence and practice will put you on the road to success.
To get some more great ideas on grant writing and available grants. Take a look at grants.gov government-grants.org and chiefsupply.com/grants
Jim Hoffman is a contributor to EMS Solutions.
Get the New Quick Study Guide - Now in paperback.
http://ems-safety.com/ems_quick_study.htm
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Source: EMS A-Z Series - “G” Grants - Not Just For Big Red Trucks
Peggy Slappey Wins Businesswoman of the Year
Posted by admin under: Main Dec 28Peggy Slappey, 2007 President of the Northeast Atlanta Metro Association of REALTORS, was named as the first Businesswoman of the Year by the Women’s Council, Gwinnett Chapter, at the December 13, 2007 meeting.
Businesswoman of the Year is a new award created by the national Women’s Council of REALTORS. The nominees must meet the following requirements:
- Must be a woman and member of National Women’s Council of REALTORS.
- She is a REALTOR or REALTOR Associate.
- Application form must be signed by the Association Executive Officer or Broker.
The award is based upon business accomplishments, production, education, leadership, political/business community involvement and career achievements. Ms. Slappey is a third generation REALTOR with over 27 years of general and new home sales experience. In 1982, Peggy started Peggy Slappey Properties, Inc.
Source: Peggy Slappey Wins Businesswoman of the Year
Wasilla Real Estate in 2007
Posted by admin under: Main Dec 28Here is just a preliminary look at real estate in the Mat-Su area for 2007. I am also comparing the statistics to 2006. I will be looking at these comparisons off and on for the next week or so.
We sold fewer houses in 2007, (1,666compared to 1,472), for more money compared to 2006. The average price in 2007 was $222,053, compared to 2006 average price of $216,520.
Here are some charts from the Alaska MLS system. (click to enlarge)
2006 Chart
2007 Chart
“This representation is based in whole or in part on data supplied by, and to, the subscribers of Alaska Multiple Listing Service, Inc. (AK MLS, Inc.). AK MLS, Inc. does not guarantee nor is it in any way responsible for its accuracy. Data maintained by AK MLS, Inc. is for its own use and may not reflect all real estate activity in the market. “
Source: Wasilla Real Estate in 2007
1031 Exchanging from Brick&Mortar to Oil&Gas
Posted by admin under: Main Dec 28While the tax deferral benefits of a 1031 Exchange can be very significant, there is another reason to consider a tax-deferred exchange. The 1031 Exchange provides the opportunity to diversify your investment portfolio, without triggering a tax liability. Let’s assume your personal net-worth is heavily weighted toward real estate, and you would like to create greater balance in your portfolio without generating taxes on the sale your property(s). One way to achieve this is through the sale of a conventional investment property into a non-conventional real estate asset such as an oil and gas interest. .
Tax Benefits Review. With 15% federal capital gains tax, plus state taxes where applicable (in Colorado the amount is 4.63%), the potential for deferring taxes is significant — particularly if you have held the property for many years.
On the sale of a $1-million property with a $250,000 basis, the amount of taxes to be paid or deferred by a Coloradoan could be nearly $150,000.
Plus, assuming you have taken depreciation for tax purposes, you have tax exposure on the recapture of this depreciation. The depreciation recapture, which is federally taxed at 25%, may also be deferred through the 1031 Exchange. When properly structured, an oil and gas interest can meet the IRS’s ‘like-kind’ requirement for a 1031 Replacement property
Quality, Quality, Quality. If the three keys to successful conventional real estate investing are Location, Location, Location, then the three principles of successful oil and gas investing are Quality, Quality, Quality. In considering an energy asset as a 1031 replacement property, look for quality in:
- Sponsorship. Oil and gas is a specialty; deal only with investment sponsors who have a proven track record for successfully putting together energy investments.
- Physical Reserves. Unless you are a petroleum engineer or geologist, you are going to need to rely on the opinions of others. This is another reason to deal only with quality sponsors.
- Field Operations. Look for a field operator with a proven track record a stake in the on-going success of the venture.
Investment Returns. Cash-on-cash returns on gas interests tend to higher than on a conventional real estate investment — and they should be. An important distinction between a brick and mortar property and an oil and gas interest is that while a good real estate investment will appreciate over time, the oil and gas field deplete over time.
Having energy assets in one’s portfolio is a good way to diversify away risk associated with a portfolio heavily concentrated in real estate. However, exchanging into an oil and gas interest requires expertise. A good Exchange Intermediary will help ensure your exchange meets Section 1031 of the IRS code. You will also want to have your attorney and tax accountant advising you in your decision.
Lastly, an investment real estate broker with solid expertise in tax-deferred exchanges can help you evaluate the benefits of exchanging into brick and mortar versus oil and gas, and provide your available properties to consider for acquisition.
Source: 1031 Exchanging from Brick&Mortar to Oil&Gas
A Self Cert Solution For Self-Employed UK Residents
Posted by admin under: Main Dec 28As long as you can put down a chunky deposit on the value of the property, you wish to buy, you are still in with a chance of a mortgage. Of course, you can’t provide the lender with copies of payslips or an employer’s reference and, unless you have been self-employed for three years or more, it won’t be satisfied by examining your accounts.
Even if you have been trading on your own for a long period, you may feel that the net profits shown do not create the sort of picture that would impress a potential mortgage lender.
The solution is the self-certification mortgage, a personal finance product that arrived in the early 1990s to cater for those borrowers who were able to lay down a reasonable deposit but would have difficulty proving their earnings.
Some lenders felt that this was an underrated market and that employees were as likely to lose their jobs as the self-employed were likely to lose their jobs as the self-employed were likely to fail in business.
In fact, they argued, the self-employed were better motivated not to fail, and might be better equipped to pick up the pieces if all went pear-shaped.
Self-certification mortgages do tend to be lumped in with lending to the insolvent and uncreditworthy and rates are unlikely to be the best on the market, but needs must when you need a roof over your head.
Lenders usually expect the borrower to provide a substantial deposit. You will probably need to contribute at least a fifth, more probably a quarter, of the property’s value.
Mortgage lenders regard it as too risky to provide more than a 75% or 80% self-certification mortgage. And if “self-certification” suggests that you simply cross your heart and promise to pay, it isn’t quite that simple. Lenders won’t take your word that you’re good for the repayments.
They will check your credit rating, and may go on to demand even more evidence or evidence of earning power than they would from the established self-employed.
Usually the main form of proof is a signed accountant’s certificate, but this may need to be supported by bank statements for your business account, over whatever period the lender specifies.
Also, if you already have a mortgage, you may be expected to provide your statements to show that you are a reliable customer - if you pay rent, your landlord can be asked to provide your statements to show that you are a reliable customer - if you pay rent, your landlord can be asked to provide a reference to the same effect.
If you are turned down for a self certification mortgage, ask the mortgage lender why and, if not satisfied ask one of the main credit-reference for a copy of your credit file. Take your time, seek help and advice, and don’t be afraid to question anything you don’t understand to help the development of your personal finance management.
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Source: A Self Cert Solution For Self-Employed UK Residents
Finding The Best Mortgage Deals
Posted by admin under: Main Dec 28Most people their home with a mortgage. A mortgage is the longest financial commitment you will ever make, typically extending over 25 years of your life.
However, the mortgage maze has never been more complicated. Over the past five years, the market has undergone a massive transformation - new players have taken their place on the financial scene and new types of mortgage present an increasing choice for home loan-seekers.
Thankfully, the day when hopeful borrowers had to queue outside a local building society for a loan have long gone. But in place of queues there is now almost a mortgage glut. Banks, insurance companies, so-called centralised lenders and other personal finance players are all vying for your business and offering a wide range of loan schemes. Add a thriving remortgage market - where a borrower changes lender to arrange a better deal - and it is no surprise that many people find the mortgage maze a daunting process.
Yet do not despair - obtaining the right mortgage is possible provided that you follow a few basic steps.
Now a lot of people idolise buying that dream home, but the key area to sort out first of all is affordability. There is absolutely no point borrowing more than you can afford. If you do, you may end up with the home of your dreams, but also with recurring financial nightmares while you scramble together enough money every month to meet your mortgage commitment.
Once your chosen lender has valued your ideal and checked out your means, it will make an offer which will probably be no higher than three or four times your income plus the value of a partner’s income. That leaves you to pay the deposit, which should be at least 10% of the property value, otherwise the lender is likely to penalise you by charging an additional lending fee to cover its risk.
If you can pay 25% or more of the value you are more likely to secure a good deal, but beware of any hidden charges that might cancel out benefits. Payments for a lender’s property valuation, non-returnable booking fees for limited-offer products, arrangement fees on fixed and capped-rate mortgages and administrative charges for checking your insurance cover are not uncommon.
For anyone choosing a mortgage either for the first time or because of a wish to switch, minimize the risks and efficiently use your resources to fulfill your financial goals by doing finance comparison for each step of your personal finance management.
Original here
Source: Finding The Best Mortgage Deals