2:24 PM - Jul. 15, 2008 - comments {0} - post comment

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Tune up that grill

The grilling season is heating up and regardless of whether you’re crazy about charcoal or are gaga over gas grills, you need to make sure your grill is in good working order before heading out to the patio with the brats, burgers and buns.

“Don’t treat your grill like a second-class culinary citizen. It’s an appliance just like your stove or refrigerator and with proper maintenance and care, it can give you decades of great use,” said Angie Hicks, founder ofAngie’s List (www.angieslist.com), a provider of ratings on local service providers.

“One Angie’s List member thought his 40-year old grill was a goner one summer when he tried to fire it up. He called the store where he’d bought it and not only was his service call made by the same technician who installed it originally, but that expert found a way to repair it and the grill is still in use today,” Hicks said.

While emergency calls can be made, it’s best to have a yearly service call to ensure your grill is in good shape.

The lifespan of a grill varies greatly, depending on how well-constructed it is. Typically, you get what you pay for. Regardless of price, replacement parts are available for most grills. It’s time to replace your grill when its casting (the lid and bowl) is rusted.

Angie surveyed dozens of highly-rated grill experts to help make sure your barbecue bash doesn’t flame out.

1. Clean and spider free: Before you fire it up for the season, give your grill a good scrub to get rid of food, grease and - spider webs. Spiders are attracted to the smell of propane and they can take up residence in the venturi tubes and valve openings, blocking air and gas flow and leading to uneven cooking and possible safety hazards.

2. Annual checkup: Just like your car, annual service checks on your grill are a good idea and most warranties require them.

3. Test drive: Give your grill a test run before the day of the big barbecue to make sure everything is in good working order. That way, if it does need a new part or repair, you’ll have it working in time for the big cookout.

4. Fuel check: Check that you have enough gas or coals for your grill before you fire it up. You can add a gauge to your propane tank to help detect levels. For charcoal users, generally use about 30 coals per pound of meat, with the charcoal extending about one inch beyond the area where the food is.

5. Low salt diet: Avoid seasoning while grilling. Salt acts as a corrosive and can help contribute to rust.

6. Keep it clean. Once you’ve pulled the food from the grill, allow any excess food to burn off and then clean the grill with a brass bristle brush. Avoid using a stainless steel brush on a porcelain-enamel finish. Clean the grill while it’s still warm. It’s far easier to clean than waiting until food and grease settles and hardens. Clean the drip pan regularly.

7. Protect your grill with a water-resistant cover when not in use. During colder months, store it out of the elements.

2:21 PM - Jul. 13, 2008 - comments {0} - post comment

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Fannie Mae has the "Keys to Recovery"

Fannie Mae recently announced its Keys to Recovery initiatives, which is a part of the organization’s efforts to prevent foreclosures, support counseling efforts, and provide market stability in the wake of the housing and mortgage market downturn.

The initiatives are geared toward helping struggling borrowers stay in their homes, assisting prospective home buyers with home purchases, and stabilizing impacted communities. Here is a summary from Fannie Mae: 

Keys to Recovery Initiatives

Fannie Mae’s Keys to Recovery^TM initiatives are geared toward providing liquidity, stability, and affordability to the housing and mortgage markets for the long term, and includes steps to keep struggling borrowers in their homes, assist prospective home buyers with home purchases, and stabilize communities impacted by the mortgage market downturn.

The initiatives include:

1.) A new refinancing option for Fannie Mae “underwater” borrowers that will allow for refinancing up to 120% of a property’s current value;
2.) A renewal and expansion of the company’s partnership with State Housing Finance Agencies (HFAs) to provide $10 billion in financing for qualified, first-time home
buyers;
3.) In partnership with Self-Help, a new initiative that allows families in hard-hit communities to reside in foreclosed properties on a rent-to-own basis; and 4) pricing for new jumbo-conforming loans that will be flat to conforming for portfolio asset acquisition through the end of the year.

Refinancing “Underwater” Borrowers

With home prices declining in many areas of the country and lending standards tightening as a result of the ongoing turmoil in the housing finance system, many borrowers find themselves with mortgages that exceed the value of their homes and are locked out of refinancing into safer loans that would allow them to sustain their mortgage payments.

In order to assist borrowers whose home equity is “underwater,” reduce foreclosures, and support sustained homeownership, Fannie Mae will purchase refinanced loans the company owns for up to 120% of the current property value provided the borrower is current with their mortgage payments.

HFA Investment

HFAs exist to provide affordable homeownership and rental housing opportunities within their states. The majority of HFA single-family business is for first-time home buyers who have received borrower counseling and down payment and/or closing cost assistance from the government.

Fannie Mae has maintained a long-term agreement with the National Council of State Housing Agencies (NCSHA) to purchase loans generated by the HFAs. The company is renewing and expanding its agreement with NCHSA to purchase up to $10 billion in HFA loans by the end of 2009. In addition, the company will provide access to low down payment mortgage products at competitive prices, resulting in more advantageous financing opportunities for first-time home buyers.

Neighborhood Stabilization

In order to minimize the neighborhood impact of foreclosed properties, Fannie Mae will support an initiative with Self-Help in partnership with local nonprofits to purchase foreclosed homes in hard-hit neighborhoods.

The nonprofits would acquire and rehab the properties, and then sell them to qualified borrowers or enter into a customized lease-purchase agreement. The initiative will be geared toward borrowers who have the income to qualify for the home purchase, but need additional time to improve creditworthiness. Participants choosing the rent-to-own option would be granted up to five years to qualify for the mortgage and receive extensive credit counseling during the lease period.

Jumbo-Conforming Loans

Following passage of the Economic Stimulus Act of 2008, Fannie Mae is temporarily able to purchase loans greater than the conventional-conforming loan limit of $417,000. In certain high-cost areas as designated by HUD, the company is able to purchase jumbo-conforming loans up to $729,750 in the continental U.S. The company is now accepting deliveries of 15-year and 30-year fixed-rate (FRM), and certain adjustable-rate (ARM), jumbo-conforming mortgages.

In order to bolster liquidity in the jumbo-conforming market and help reduce rates for jumbo-conforming mortgages in high-cost areas, the company will now:

• Price new jumbo-conforming loans flat to conforming for portfolio asset acquisition through the end of the year. This means that although jumbos are not TBA-eligible, we will be pricing them as if they were.

• Allow for cash-out, jumbo-conforming loan refinancings.

• Expand loan-to-value (LTV) criteria for jumbo-conforming purchase loans and limited cash-out refinancings.

• Offer expanded jumbo-conforming FRM and ARM options.

HomeStay

The company’s Keys to Recovery^TM efforts build on Fannie Mae’s HomeStay® initiative announced last year.

The company is working with lenders, loan servicing companies, and policy makers to respond to the housing and mortgage market crisis with a goal to minimize the impact on families and communities by preventing foreclosures, supporting counseling efforts, and providing market stability.

Through HomeStay®, since the beginning of 2007, the company has:

• Helped more than 200,000 at-risk homeowners refinance into safer loans or work out their loans, including nearly $28 billion in refinancings for subprime borrowers.

• Provided more than $10 million in grants - and hundreds of employee volunteer hours - to support foreclosure prevention counseling and workshops since the housing crisis deepened last year.

• Worked with loan servicers to emphasize work-outs for delinquent loans, instituted attorney incentive fees for workouts, provided HomeSaver Advance^TM loans that allow borrowers to catch up on their delinquent mortgage payments, deployed staff to work on-site with our largest servicers, and made dozens of operational changes and enhanced servicer authorities to allow for easier modifications and work-outs.

• Supported HOPE NOW initiatives and public policies to give at-risk and delinquent borrowers a better chance to afford their mortgages.

National Down Payment Policy

On May 16, 2008, the company announced a new, single down payment policy in all communities across the nation for conventional, conforming mortgages the company will purchase or guarantee. Starting with loan applications taken on June 1, 2008, Fannie Mae will accept up to 97% loan-to-value ratios for conventional, conforming mortgages processed through its Desktop Underwriter® automated underwriting system, and 95% loan-to-value ratios for loans underwritten outside of Desktop Underwriter, in all geographic locations in the United States.

This new national down payment policy will supersede the “Maximum Financing in Declining Markets Policy” Fannie Mae adopted in December 2007, which required higher down payments in markets where home prices are declining. The new policy now equalizes down payment requirements across the country, regardless of local market conditions.

2:17 PM - Jul. 11, 2008 - comments {0} - post comment

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Kitchen makeovers on the cheap

After downsizing to a historic 1920s cottage, a music-loving couple found perfect harmony with a kitchen makeover. They bought a fixer-upper after their daughters left the nest, and wanted to update the kitchen without spending a fortune. The couple chose mainly off-the-shelf products (with the exception of Special Order countertops) and created a space that’s jam-packed with personality.  Lowe's outlines how they did it:

What They Did

The Challenge: The kitchen’s inefficient layout and outdated appliances provided little inspiration for the homeowners. They wanted to infuse the warmth of a European bistro into the room’s new design and achieve a customized look.

The Solution: Open shelving and a harmonious color palette make the room feel larger. Sticking to their budget, the homeowners salvaged the hardwood floors underneath the tile and painted unfinished in-stock oak cabinets. They chose a suite of stainless appliances to bring the kitchen up to date. The new refrigerator was placed across from the sink for a better workflow, and improved lighting provides ample illumination in the work areas.

Here are 5 ways you can also get a custom look for less:

1. Prepare. Developing a game plan from the beginning helps you stay focused and stick to a theme and color palette.

2. Paint. By coating unfinished wooden cabinets with your desired color, you can get a bold look for a fraction of the cost.

3. Personalize. Do-it-yourself shelving or a breakfast bar maximizes space and adds a one-of-a-kind, professional feel.

4. Pick a suite. Choosing appliances from the same brand with the same finish will give the kitchen a more cohesive appearance.

5. Pad with finishing touches. Unique additions, such as a chalkboard wall or framed travel photos, make a kitchen anything but ordinary.

2:48 PM - Jul. 9, 2008 - comments {0} - post comment

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Have you considered a VA loan?

With all of the changes and restrictions that have been introduced by Fannie Mae, Freddie Mac and the Mortgage Insurance companies, the one type of loan program that has not been affected is VA loans. As a matter of fact, VA loans now, with few exceptions, are THE 100-percent financing option available for purchasing a home according to Jason Kotar, President of Kotar & Associates and Diversity Lending Group, Inc

Over the past few years, the proliferation of loan programs available often negated the value of a VA loan. The days of “liar loans” are over. Buyer required documentation of income and assets, increased focus on credit scores and declining market policies implemented by Fannie and Freddie have brought VA loans back into vogue. The VA loan program has stayed the course with its loan requirements. Let’s review some of them.

First, eligibility is generally limited to active and retired military personnel, as well as those who served in the National Guard or Reserves. There are other differences from traditional loan programs. The veteran must plan on occupying the home. The types of properties are limited to certain types: one to four family units; condominiums; town houses; and certain manufactured homes. Full documentation is required on all loans. All income must be proven with W-2’s or, if self employed, with tax returns. Employment records must be verified. Simply put, the VA wants to know that the loan that they are guaranteeing has a higher probability of being repaid. There are two other key differences between conventional loans and VA loans; a Certificate of Eligibility and a VA assigned appraisal. Basically, the VA wants to insure that the loan applicant meets their criteria for being considered for a loan and that the appraisal will fairly reflect its reasonable market value.

There are numerous advantages for a veteran to have a VA loan. With few exceptions, no down payment will be required. In addition, no mortgage insurance premiums will be levied. The buyer has a right to prepay without penalties or to assume an existing mortgage. Seller concessions of up to 4 percent are allowed. Loan amounts are allowed up to $417,000 with high cost areas like Alaska, Hawaii, etc. allowed to $625,500. The applicant is only required to prove assets needed for closing. For disabled veterans, property taxes may be reduced as well as VA funding fees.

The VA does not specifically look at an applicants credit score. They do take a hard look at the last two years of payment history. Any judgments and tax liens must be paid as well as any accounts out for collection.

Bankruptcies have to be two years out of discharge. The VA does require a “funding fee” of 2 to 3 percent to be charged for VA loans but, this amount may be rolled into the loan.

One final point, be careful of a VA loan applicant attempting to purchase a foreclosed (short sale) home owned by a Lender. The VA will not approve any repairs to a home prior to the sale to be paid for by the veteran.

While there are significant differences from traditional loans, the elapsed time to get loans approved and closed, are comparable. The key is to work with mortgage professionals who understand the requirements.

2:10 PM - Jul. 7, 2008 - comments {0} - post comment

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Don't become an identity theft victim

According to recent statistics released by the U.S. Department of Justice, about 1.6 million households experience theft of existing accounts other than a credit card (such as a banking account), and 1.1 million households discover misuse of personal information (such as their social security number) annually. In addition, a recent poll revealed that "sixteen percent of adults say they have had their credit or debit card used by someone they don't know without their permission" and that "substantial numbers" of people have taken specific steps to help prevent identity theft from happening to them.

Here are some important tips for keeping your information safe and sound:

Give it to me in writing. While many of us have limited our exposure to telemarketing calls by utilizing the Do-Not-Call registry, charities are exempt from the Do-Not-Call rules. If you receive a phone call from any charity, ask the caller to send you information in the mail instead of giving out your credit card information over the phone. If you get any resistance, just hang up. If someone isn't willing to give you the chance to review some information, they could be interested in more than earning a commission.

Just the facts. We often give unnecessary information like our date of birth and income level when we're filling out things like warranty cards for new products we've bought or supermarket club cards. Share only what's really necessary in every situation.

Navigating the Net. Never post your address or your full date of birth on any social networking sites because both are pieces of information needed to steal your identity. In addition, if you utilize internet job sites, never give a potential employer your Social Security number until they are ready to hire you. Also, thoroughly investigate companies before you submit your resume and check the privacy policies of any online job boards to make sure they won't sell your information.

The world of paper. Even though the Internet has added a whole new dimension to identity theft, there are still important steps to take when it comes to paper items. First, never keep your Social Security number in your wallet, glove compartment, and other easy-to-access places. Also, never have it printed on your checks or use it as your password. Second, when you are ready to get rid of old documents that contain important information, shred them. And last, if you have to mail something that contains sensitive information, drop the letter in a secure mailbox instead of a mailbox that anyone can open (like the kind at the end of many people's driveways).

The bottom line is this: When it comes to your personal information, share it on a need-to-know basis only!

2:28 PM - Jul. 5, 2008 - comments {0} - post comment

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Don't be afraid of color

Homeowners now have permission to go beyond beige.

With a desire to create spaces that are just right for them, today’s customer is looking for an experience inside the home. Neutrals are nice, but homeowners are moving “beyond the beige.”

Melissa Birdsong, vice-president of Trends at Lowes, Inc has these idea on adding color to your home.

When buying or selling a home, a neutral color scheme is the safe choice and often used as a way to provide a blank canvas, allowing potential buyers to paint their personal vision of home. But thanks to the world of home makeover shows and an abundance of how-to palette information available online and in stores, consumer color confidence is higher than ever. With permission to go beyond beige, many homeowners are rediscovering the power of color to create personality in their home that can, if executed thoughtfully, establish a unique and memorable impression-while they’re living there as well as when it’s time to sell.

So what is a “thoughtful” way to color scheme a home? Over the years, I’ve compared it with creating a musical composition-one that combines soft melody and slower tempo with louder and faster parts. The rhythm of the piece creates continuity, but the contrast between the parts adds drama to what could otherwise be a monotonous experience.

Translated to a room-to-room color scheme, neutral zones are the quiet parts; those painted with more color, the livelier ones. Transition between areas becomes very natural when you weave in the color and finishes of the furniture, artwork and accessories that playfully create a more interesting composition.

The actual selection of quiet colors vs. more dramatic ones depends on the mood and the feeling that you want a space to have: a peaceful space for contemplation and reading or a more dramatic backdrop for dining? By aligning the mood with the color “volume,” you create an expression that makes a home feel just right. And opting out of the beige box can provide an experience that’s colorful beyond the hue.

2:16 PM - Jul. 3, 2008 - comments {0} - post comment

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How to let your home "age" with you

With an increasing number of Baby Boomers choosing to stay in their homes as they age, homeowners are turning to remodelers for help to renovate their homes to accommodate their changing lifestyles. During May - National Home Remodeling Month - the National Association of Home Builders (NAHB) Remodelers highlights benefits of aging in place with the help of a certified professional.

“Even minor aging-in-place remodels make a huge difference in the lives of seniors and people with disabilities,” said NAHB Remodelers Chairman Lonny Rutherford, CGR, CAPS, CGP, a remodeler from Farmington, N. M. “Certified Aging in Place Specialist (CAPS) remodelers are trained and certified to assist homeowners with making the adjustments needed so that they can live in their homes comfortably. “

According to AARP, more than 84% of people age 50 and older want to stay in their homes as they age.

CAPS recognizes those remodelers who demonstrate understanding about working with older adults, knowledge of common barriers and solutions to aging at home, and techniques for building and sustaining a responsible remodeling business. To earn the CAPS designation, a remodeler must complete a series of industry-specific education courses, provide letters of recommendation, proof of licensing and insurance and adhere to a strict Code of Ethics. CAPS stands for professionalism, customer service and a commitment to quality.

“CAPS courses teach great design skills, and all homeowners can benefit from thoughtful and innovative design options, making their home friendly for people of all ages,” said Rutherford.

The most popular CAPS solutions make a vast difference in improving livability without wiping out savings:

- Installing grab bars in bathrooms and showers
- Replacing door and faucet handles with easy-to-grasp levers
- Creating no-step doors and entry ways
- Adding seated work areas in the kitchen
- Improving lighting and creating color contrast

1:35 PM - Jul. 1, 2008 - comments {0} - post comment

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Buy smart in today's market

When it comes to home purchases, everyone wants to buy low and sell high. “Now is the low; high is just around the corner,” says Alexis McGee, foreclosure information expert, educator, and president of foreclosure property information specialists ForeclosureS.com. “Already pending home sales are climbing in the North, and appear poised to rebound in the South and West, according to the most recent National Association of Realtors Pending Home Sales Index. NAR also predicts existing home sales will climb more than 6% next year, and that median prices — down this year — also will climb in 2009.”

With interest rates at a 35 year low, affordable financing, and abundant inventory, it’s a buyer’s market. “There are plenty of great opportunities that make the American dream of homeownership more affordable today if you know where to look and how to make the right deal,” says McGee, also author of “The ForeclosureS.com Guide to Advanced Investing Techniques You Won’t Learn Anywhere Else” (Wiley) and “The ForeclosureS.com Guide to Investing in Pre-foreclosures Without Selling Your Soul” (Wiley).

A recent survey from Trulia.com by Harris Interactive® indicated that more than half of Americans would consider purchasing a foreclosed home. “It sounds like those Americans recognize a good deal,” adds McGee. “So what are you waiting for? It’s bargain time. Buy now.”

McGee offers a few tips to help you buy right in today’s markets:

- Do your homework before you buy. That means know the local market, the going price in a specific neighborhood, and what kind of financing is available. You can get free information and guidance online at sites like ForeclosureS.com (www.ForeclosureS.com) and the National Association of Realtors (www.Realtor.org). But beware those websites that promise instant riches for “no effort and no money down.”
- Open your eyes to the opportunities that surround you. Even cities with high foreclosure rates have motivated sellers in sought after neighborhoods — where well-priced homes resell quickly.
- Make sure you know the current prices for comparable properties in the area. With markets in flux, prices from three months ago no longer are good enough.
- Don’t be afraid to ask for a discount. To figure your offering price don’t forget to deduct the costs of necessary repairs and rehab and your profit. If you’re buying a property with plans to turn around and resell it, deduct from your offering price the cost of buying, holding and selling the property until you find a buyer - and don’t forget to pencil in your profit!
- Don’t be derailed by marketing come-ons, gimmicks, and “insider secrets”. If it sounds too good to be true, it is.
- Beware the “great deals” at the auctions. Competitive bidding drives up prices. Instead of buying a house at discount, you could end up paying full market price or more if you factor in auction commissions and fees.
- Consider FHA as a low-cost, safe financing alternative. With new higher loan limits, interest rates at 35 year lows, and home buyer tax incentives still being ironed out in Congress, this is an excellent opportunity for you to buy low.

1:12 PM - Jun. 29, 2008 - comments {0} - post comment

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Are we getting close to the end of the mess?

In the initial stages of a Recession (yes everywhere people are now referring to the “R” word) sellers remain under an illusion of inflated home values regarding the real value of their property, while around them this false impression of value leads to a drop in sales as buyers respond by pulling out of the market.   Stefan Swanepoel of the Swanepoel Trends Report has some ideas of how to survive

 

At some point (about now) reality sets in and some owners reduce prices fueled by a growing financial crunch. There is an increase in the number of short sales, foreclosures rise and banks start taking back many unwanted properties, dropping cash flows lead to losses that force property auctions and a downward spiral of home prices is the result.

Prices are driven price down, developers are stuck with new homes and banks are bulging with foreclosed properties. So who are the largest sellers of homes today? Most likely Countrywide, US Bank, Deutsche Bank, Wachovia, Downey Savings and Loan, Wells Fargo and Washington Mutual.

 

As a matter of fact, the median sales price of a bank-owned property ranges between 15% to 45% lower than the median listed price of homes for sale in the same neighborhood.

 

So how far and how long will this go?

 

Well I’m no economist and I don’t have a crystal ball, but what I can share with you is that statistics indicate that a normal recession is around 10 months (but who knows what normal is). It seems that predictions are running everywhere from 10 to as many as 24 months before we turn the corner.

 

This is largely founded on the fact that we already have a national “house-for-sale” inventory of around 11 months. U.S. foreclosure filings jumped 57% and bank repossessions are up 129% from a year ago. We can expect some 2.5 million foreclosed properties to be on the market this year and in 2009.

 

In short - too much stock and too few buyers.

 

Add to that are mortgage rates, the mother’s milk of the housing market, that seem to be on the rise – both internationally and locally. It would seem that “The 2007 Hangover,” which I wrote about toward the end of 2006 in my annual Swanepoel Trends Report, will provide the industry a headache well into 2009 and beyond.

 

On another note, the Mortgage Reform and Anti-Predatory Lending Act of 2007 bars banks from steering any consumer to a loan for which the consumer lacks a reasonable ability to repay, does not provide a net tangible benefit or has predatory characteristics. A predatory loan has never been defined and will surely mean, to a trial lawyer, any loan that a marginal buyer cannot afford anytime in the future. Analysis performed for the Consumer Mortgage Coalition concluded that because of the subjective standards the House bill "will likely generate significant litigation" and lenders will "rarely, if ever, be able to dispose of even frivolous lawsuits".

 

So, during these complex and difficult times, this legislation adds a further incentive for banks to stop lending to all but the best qualified individuals. Therefore it would appear that for the foreseeable future, low-income home buyers without stellar credit scores will find it nearly impossible to get any home loan - which compounds the downward pressure on home values.

 

As if this isn’t already enough “bad news” another growing concern is the rapid build up of household debt in the U.S. According to Business Week, U.S. households now owe almost $14 trillion, nearly equal to the annual output of the U.S. economy. Regrettably these two are interwoven and one financial crisis feeds off the other.

 

On the optimistic side: The current housing recession, sub prime mess and the foreclosure explosion won’t last forever. The years 2006 – 2009 will unquestionably leave a scar, but the American dream of owning your own home will return in all its glory. We may have to wait another year or more but keep the faith, real estate will once again create wealth and fuel the economy.

 

Till then, be astute, knowledgeable and remain positive.

 

7:14 PM - Jun. 27, 2008 - comments {0} - post comment

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How to build "green"

With the growing concern about the ways in which our behaviors are effecting our environment, many people are being proactive when it comes to changing their lifestyle in order to alleviate these growing problems. The focus on ‘going green’ is steadily increasing and more and more individuals are taking a green approach to their life. Here, Carl Seville, owner, Seville Consulting explains what ‘going green’ really means.

Q. What was the motivation behind your becoming interested in green building?
A. I had known about green building for quite some time and got involved in green remodeling in 2001. From the beginning, it struck me as the only way to build. From that point forward, I felt that it was my mission to educate individuals in the building/remodeling industry as well as consumers and agents about the benefits of green building over traditional building and remodeling. In 2004, I became involved with EarthCraft House, a non-profit organization dedicated to green building and living and I headed their green remodeling committee. The pilot projects that I worked on for this committee were the turning point in my career.

Q. What are some of the features that make a home green?
A. There are four main precepts behind the process of building green. These four guidelines include that the home be energy efficient, healthy for the occupant, durable and resource efficient. All of these concepts interrelate, as a lot of things that make a home energy efficient will make it healthy and resource efficient as well. Green building is a fairly well-established building principle that anyone can employ with the proper training, and almost any building can be made green. The key thing to remember is that green building is not about products and materials, it is a process.

Q. What are some of the advantages to having a green home over a traditional home?
A. First and foremost, green homes are very healthy. Many individuals who move into a green home find that their allergies go away all together or severely diminish. The houses are comfortable, quiet and cleaner as well. In addition, green houses don’t get hot and cold spots that are typical in most traditional homes and they use a lot less electricity gas. In the end, fewer materials are used and wasted.

Q. What do you see in the future of green building?
A. There is no doubt in my mind that everything will be green, because it is where we have to go especially in order to protect our environment. Even today, most green energy codes are strong, but most builders don’t enforce and build to them. The movement is still on the trendy side right now, but it will continue to pick up speed and penetrate more of the market. As it becomes more understood, people will realize that they don’t have to spend more and there is no downside to building green.

7:08 PM - Jun. 25, 2008 - comments {0} - post comment

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Teaching your kids financial responsibility

With inflation on the rise (gas prices, grocery bills, health insurance premiums, etc.) and many companies being more conservative, more American families are feeling squeezed. So if you’re feeling guilty because you can’t buy your child that video game system he desperately wants or send him to that trendy summer camp, Eric Tyson has one word for you. Don’t. In fact, he says, now is the perfect time to teach your kids some valuable financial lessons.

“Kids are surprisingly aware of what’s going on in the world,” says Tyson, author of the new book Let’s Get Real About Money! Profit from the Habits of the Best Personal Finance Managers (FT Press, December 2007, ISBN-10: 0-1323416-1-1, ISBN-13: 978-0-1323416-1-5, $19.99). “And if they don’t know that times are a little bit tough and Mom and Dad are having to watch their spending, it’s time to tell them. Sheltering kids from financial realities does them no favors.”

Indeed, the opposite is true, says Tyson. A good grasp of personal finance is one of the most valuable life skills a person can have. And while previous generations may have been raised with the constant admonishment that “money doesn’t grow on trees!” too many of today’s parents neglect that lesson. It’s time to change that-and the economic slowdown we’re in now provides a great incentive for doing so.

“In many ways, a slower economy can be a blessing in disguise,” admits Tyson. “It leads families to make a budget and stick to it. It forces them to be conscious about how they handle money. That’s good for kids. It shows them how the world is supposed to work.”

Ready to get started? Tyson offers the following helpful hints:

1. Realize that kids learn what they live. It may sound like common sense, but you-Mom and Dad-are your kids’ most influential teachers. When you ring up a barge-load of credit card debt, take out exorbitant mortgages or car loans, and fail to save anything, that’s what your kids come to see as normal. If you are modeling unhealthy financial habits, you can’t realistically expect your kids to “do as I say, not as I do.”

“Adults who live it up now and fail to save for the future can expect to raise children who are accomplished spenders and poor savers,” notes Tyson. “Be honest with yourself about the powerful money messages you’re sending your kids. If your financial habits are poor, overhaul them now. You owe it to your kids.”

2. De-program them. Kids are constantly bombarded with information about what things cost, whether it’s the fancy sports car they like or the wardrobe of their favorite athlete or actor, not to mention the 40,000 commercials that the American Academy of Pediatrics estimates the average American child sees each year. What they aren’t bombarded with is knowledge on how to manage money effectively. And while schools are increasingly incorporating money issues into the existing curriculum, the broader concepts of personal financial management still aren’t taught. Frightening though it may be, some schools rely on free “educational” materials from the likes of VISA and MasterCard!

“These credit card titans provide materials that implicitly and explicitly support carrying consumer debt as a sound way to finance significant purchases and living expenses,” says Tyson. “In fact, VISA and MasterCard school-supplied resources endorse spending upward of 15 to 20 percent of one’s monthly take-home income to pay credit card and other consumer debts! Explain to your kids that such spending puts a lot of money directly into the credit card companies’ pockets, so of course they’re going to offer that advice…but that smart people don’t listen to it.”

3. An allowance is a great teaching tool. You don’t have to break child labor laws to find great ways to help your kids earn their allowance rather than just have it handed over to them. A well-implemented allowance program can mimic many money matters that adults face every day throughout their lives. From recognizing the need to earn the green stuff to learning how to responsibly and intelligently spend, save, and invest their allowance, children can gain a solid financial footing from a young age..

“A great time to start is when your kids reach the five-to-seven age range,” says Tyson. “Start them on some household chores, and explain to them that they will be paid for their work. Of course, the size of the allowance should depend, in part, on what sorts of expenditures and savings you expect your child to engage in and, perhaps, the amount of ‘work’ you expect your child to perform around the house. I recommend paying $0.50 to $1.00 per year of age. So, for example, a six-year-old child would earn between $3 and $6 per week.”

4. Start them saving and investing early. It’s never too early to start saving, and the sooner you can instill the importance of saving money into your kids the better. After they start earning an allowance, have your kids save a significant portion (up to half) of their allowance money toward longer-term goals, such as college (just be careful about putting money in children’s names as doing so can harm college financial aid awards). Tyson recommends that children reserve about one-third of their weekly take for savings. As they accumulate more significant savings over time, you can introduce the concept of investing.

“Rather than trekking down to the boring old local bank and putting the money into a sleepy, low-interest bank account, I prefer having kids invest in mutual funds,” says Tyson. “Another option is for kids to buy individual stocks. Kids can learn more about how the financial markets work and understand stocks better by sometimes picking individual stocks rather than using funds. Just be careful to keep transaction fees to a minimum and teach your kids how to evaluate a stock and its valuation and not simply buy companies that they’ve heard of or that make products they like. The money they are able to save and invest will be a huge help to them later on in life.”

5. Reduce their exposure to ads. The primary path to reduced exposure to ads is to cut down on TV time. When kids are in front of the tube, have them watch prerecorded material. You can direct the television viewing of younger children, in particular, toward videos and DVDs. And for older kids, if you use digital video recorders (DVRs), such as TIVO, you can easily zap ads. But when an ad does sneak under the radar and set the kids to begging, address it. Explain to your kids that there’s never a good time for frivolous impulse spending-but it’s especially harmful when money is tight.

“Invest the necessary time to teach and explain to your kids that the point of advertising is to motivate consumers to buy the product by making it sound more wonderful or necessary than it really is,” says Tyson. “Also explain that advertising is costly and that the most heavily promoted and popular products include the cost of all that advertising, so they’re paying for it when they buy those items.”

6. Find entertaining ways to teach good money habits. You’ll probably be facing an uphill battle when trying to get your kids to sit down and learn about personal finance. That’s why it’s so important to find entertaining ways to instill good financial habits in them. For younger kids Tyson recommends age-appropriate books like The Berenstain Bears Get the Gimmies. For late-elementary-school-aged kids, Quest for the Pillars of Wealth by J.J. Pritchard is a chapter book that teaches the major personal finance concepts through an engaging adventure story. You could also get them a subscription to Zillions, a kids’ magazine from the publishers of Consumer Reports, which covers money and buying topics.

“Another great opportunity to teach your kids about personal finance and get to spend quality time with them in the process is through board games,” suggests Tyson. “Monopoly and Life are two games that are very effective at getting your kids to think about the best way to manage money and plan whether they should spend or save.”

7. Teach them how to shop wisely. Family shopping trips, whether for groceries or something else, are likely to be your kids’ first encounter with spending. They’ll see you make decisions based on what the family needs, maybe see the occasional coupon used, and will observe how you pay. These trips are a great time to teach them lessons about money.

“Explain that being a smart consumer requires doing your homework, especially when buying more costly products,” says Tyson. “Teach your kids the value of product research and comparison shopping. Demonstrate how to identify overpriced and shoddy merchandise. Finally, show them how to voice a complaint when returning defective products and go to bat for better treatment in service environments, two additional tasks that are part of being a savvy consumer.”

8. Introduce the right and wrong ways to use credit and debit cards. Those plastic cards in your wallet offer a convenient way to conduct purchases in stores, by phone, and over the Internet. Unfortunately, credit cards offer temptation for overspending and carrying debt from month to month. Teach your kids the difference between a credit and debit card, explaining that debit cards are connected to your checking account and thus prevent you from overspending as you can on a credit card.

“Explain to them that credit cards should be used sparingly and then practice what you preach,” says Tyson. “Wean yourself off of using your credit card, and tell your kids why you’ve decided to do so.”

9. Encourage older kids to get a job. An allowance doesn’t have to be the only way for your kids to earn money. Your child’s initial exposure to the work-for-pay world can start with something as simple as a lemonade stand. Depending on age, he or she might do yard work for neighbors or offer babysitting services. And the fact that we’re in a recession makes it all the more appropriate for older kids to “help out” by getting a part-time job-especially to fund unnecessary purchases like DVDs or cool clothing.

“I had an extensive newspaper route for a number of years, and I cut lawns and did other yard work during high school and college summers,” says Tyson. “By holding down such jobs, kids can learn about working, earning, saving, and investing money. It also provides welcome relief for parents to not continually be the source of spending money. Working outside the home does raise some safety issues, so by all means be involved in ensuring that your child has a safe work environment.”

7:03 PM - Jun. 23, 2008 - comments {3} - post comment

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Why are you late again?

 If the minutes on the clock seem to fly by in the morning as you frantically run around collecting your keys, getting your kids out the door and grabbing your bills while trying to make it to work on time, you’re not alone. According to a recent CareerBuilder.com survey, 15% of workers say they arrive late to work at least once a week, while nearly one-in-four of all workers (24%) admit to making up fake excuses to explain their tardiness. The CareerBuilder.com survey, “Late to Work,” was conducted from February 11 through March 13, 2008 among 2,757 employers and 6,987 workers.

“Although flexible schedules are more common in the workplace these days, it is still important for employees to be mindful of their arrival times,” said Rosemary Haefner, vice president of human resources for CareerBuilder.com. “Consistently showing up late can affect how others in the company view your work ethic and discipline, as well as affect your productivity.”

While 43% of hiring managers say they don’t mind if their employees are late as long as their work is completed on time with good quality, others are much stricter, and would consider terminating an employee if he or she arrives late several times a year.

When asked to identify the primary cause for coming in late, more than 32% of workers claimed traffic was the culprit. Falling back asleep was the reason cited by 17%, while 7% pointed to a long commute as the main cause. Other popular reasons included getting kids ready for school and day care, forgetting something at home and feeling sick.

While the majority of hiring managers believe their employees’ reasons for being late to work, more than 27% say they are skeptical of the excuses.

Hiring managers provided the following top 10 examples of the most unusual excuses employees offered for arriving late to work:

- While rowing across the river to work, I got lost in the fog.
- Someone stole all my daffodils.
- I had to go audition for American Idol.
- My ex-husband stole my car so I couldn’t drive to work.
- My route to work was shut down by a Presidential motorcade.
- I wasn’t thinking and accidentally went to my old job.
- I was indicted for securities fraud this morning.
- The line was too long at Starbucks.
- I was trying to get my gun back from the police.
- I didn’t have money for gas because all of the pawn shops were closed.

Insights for Managers about Tardiness

Other jobs can be successfully performed with very flexible hours.

Some jobs require adherence to a specific schedule in order to maintain quality service levels and precise hours of operation. Other jobs can be successfully performed with very flexible hours. Whether you tend to be strict or flexible about schedules, frequent tardiness or lack of reliability should not be ignored. Managers who have frequently tardy employees should do the following:

Candidly discuss the tardiness issue with the employee, seeking the root cause. The employee may have personal scheduling issues that can be worked around with reasonable schedule adjustments. Employees who have problems with oversleeping or unanticipated traffic delays may need help understanding the importance of strong personal discipline. In talking with these employees, also inquire about their level of satisfaction with their current role. Frequent lateness can sometimes be an indicator of job dissatisfaction.

Evaluate the current policies and consider trying flextime, which can be implemented with various levels of flexibility. One recommended approach is to set “core business hours” and a weekly time requirement.

For example, require employees to be in the office between the core hours of 9:00 a.m. and 3:00 p.m. (excluding lunch), while working a total of 38 to 45 hours per week. This kind of policy, which lets employees set their own schedule to avoid traffic or drop kids off at school or day care, may reduce stress in the workplace.

When using flextime, it is usually best for managers to clearly define expectations and use measurements based on accomplishments and deadlines, rather than specific hours.

6:53 PM - Jun. 21, 2008 - comments {0} - post comment

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10 Red Flags for Home Buyers

The average home buyer views at least 10 homes over an eight week search so it isn’t practical to get a professional inspection of every house they tour. FrontDoor.com, a new real estate website powered by HGTV, comes to the rescue pointing out things to look for in your own pre-inspection that will help identify potential problems before calling in the pros.

FrontDoor.com’s Top 10 Red Flags for Home Buyers

1) Mass Exodus from the Neighborhood

Don’t let a home’s curb appeal keep you from glancing down the street. Are there several other homes for sale? Are nearby businesses boarded up or vandalized? Get the scoop from the neighbors. If everyone else wants to leave the street, maybe you should, too - before you’re stuck with a bad investment.

2) Mediocre Maintenance

Three layers of roofing and gutters with plants growing in them are signs the owners aren’t big on maintaining their home. What else did they neglect?

3) Foundation Failures

Check out the yard grading. If the yard slopes towards the house, it could cause water to run down the foundation walls or into the basement, which will be costly to repair. Scour the foundation for damage. Bulges or cracks bigger than 1/3 inch can mean the house has serious structural issues.

4) Bad Smells - Inside or Outside

Take a big whiff of the air inside and outside the house. Do you smell anything funky? If you can’t smell anything but the huge baskets of potpourri all over the house, this could be a red flag.

5) Faulty or Old Wiring

While you’re probably not an electrician, make sure all the switches and outlets in the house function properly. Flickering lights, circuits that don’t work and warm or hot outlets or faceplates are all symptoms of wiring problems.

6) Fresh Paint… on One Wall

New paint can really spruce up drab walls, but it can also hide bigger problems, like water damage, mildew or mold. If the room smells strange or if you see stains or saggy walls or ceilings, have an inspector look for mold and leaks.

7) Locked Doors and Blockades

Ask about any rooms that are “off limits” during your home tour, and arrange to see them later if you’re interested in the house.

8) Foggy or Non-Functioning Windows

Check for water in between double-paned windows and make sure all the windows are functional.

9) Structural Walls or Floors have been Removed

Sure you love the open floor plan, but was the house always open or did the homeowners renovate? If they removed a load-bearing wall without adjusting the framing, it can shift weight to other parts of the house. Hire a structural engineer if you think any renovations are questionable.

10) Bugs!

No one wants a house with a pest problem - be it roaches, mice or worst of all, termites. Be on the lookout for unwelcome creatures as you tour the house. Even if no foes pop out while you’re there, consider a separate termite inspection if you’re thinking of purchasing the property.

The Bottom Line

Always get a professional inspection for the house you choose to buy. Skipping a home inspection is not a good way to cut costs. You’ll end up paying more in the long run when problems arise.

6:50 PM - Jun. 19, 2008 - comments {0} - post comment

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Foreclosure solutions

Do you remember when the iPhone first came out?  About a week before it hit store shelves, an on-line sports book published odds claiming that 1 in 20 shoppers would be trampled to death while trying to get one.  Coincidentally, those are also the odds in any given week that someone will be behind on their mortgage payments.  There are solutions according to Scot Kenkel, President and CEO of Success Learning Institute, LLC, a training company.

 Are you one of them? 

 If you are, you realize that the stench of fear permeates your being, as you approach the unfamiliar territory of foreclosure.  You don't have to be a bum or a deadbeat to get into this position.  It can be as simple as missing a few days of work or having a mortgage payment or two wind up in the Dead Letter File at the post office.  Either way, your payment’s late or you're in deep doo-doo with your lender.  Now your lender's threatening you with the Big “F” -- foreclosure.

 The last thing you want or need is to face the stigma of foreclosure, so you're seeking any port in a storm.  The best way to get out of this mess – if you can come up with the cash – is reinstatement.  The concept is simple:  Pay your lender what you owe. In return, your lender will call off the hounds and allow you to continue with your mortgage contract as if nothing has happened.  This could be a practical and doable option if your problem is a short term financial hiccup.  

 In practice, however, it could be a pretty tall order because you'll be required to catch up your payments – with late fees – in one single lump sum payment.  Most lenders stipulate in your contract that partial payments won't be accepted.  While it's possible to pay less than the full balance of your back payments, it isn't as likely an outcome.  If you can work this out, you'll need to get it in writing and the only chance you have of making it happen is if you can satisfy the lender that the conditions that led to your being late won't be repeated.  If you're able to convince your lender to accept a lesser amount, it will likely take an act of Congress and your first born child.  In addition, this sort of an arrangement will take some time to negotiate – time you probably don't have.

 When you're in this precarious financial position, you're at your lender's mercy.  It's just you and your lender.  Instead of being intimidated or bullied into making a rash decision that could have a dramatic impact on your financial future, you should enlist the help of a trained professional, someone who will be in your corner, looking out for your best interests – not the bank's. 

 I'm talking about a real estate professional.

 By calling a trained real estate professional, you'll get sound advice from an objective advocate that will act as a counterbalance to the power of your lender.  This advice won't cost you an arm and a leg.  As a matter of fact, it won't cost you a thing.  Then you can decide for yourself whether reinstatement of your mortgage is the best course of action for you.  Then maybe you can consider getting an iPhone – but only if you're willing to run the risk!marketing.

3:10 PM - Jun. 17, 2008 - comments {0} - post comment

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Time Management and You

Time is money….there are only 24 hours in a day and everybody is allotted the same amount. How time is managed makes the distinction between true success and mediocre performance according to Tom Ninness of Cherry Creek Mortgage in Denver and President of Summit Champions. Big Ben in London has a poignant quote regarding the importance of time inscribed at the base of the clock tower. It reads: “No minute lost ever comes back again. Take heed and see you do nothing in vain.”

How do you use your time? Is your day comprised of rote activities, meaningless contacts and time wasters, or are you diligent in using each day as efficiently as possible? The importance of staying focused and using time wisely boils down to the small actions that can be taken throughout the day.

Reviewing the “list” before going to bed helps to organize your priorities for each day. By taking a few minutes in the evening to outline and prioritize the next day, you allow your mind to wind down and guarantee a better night’s sleep. Creating that time to permit a “brain-dump” before heading to bed, allows your whole being to be more relaxed and benefit with better sleep. Develop and maintain a list of specific things that will need attention each day. Keeping a notepad and pen by your bedside can help log ideas that occur during the night. Checking off details on the list daily offers a level of satisfaction and will enable you to accomplish more in less time. Aim to accomplish the most important difficult task/project to be completed early in the day.

Examine the month ahead and anticipate what obstacles may be lurking. Are there big projects or opportunities that need extra planning and time blocking? Anticipate what’s on the calendar. Sales appointments that are the bread and butter of most businesses and need advance preparation. Often the worse appointments are those that were not prepped in advance. “Winging it” should never be a part of an appointment.

Procrastination is a time killer. Self-talk is defined as what you say or think to yourself, either silently or aloud. Positive self-talk involves thoughts you intentionally choose to think because of the results they will produce in your life and business. Motivate yourself by being your biggest supporter!

What is time worth? Refine your day into doing the activities and tasks that will create the kind of income that your time is worth. Eliminate the non-dollar productive activities. Examine what your hourly rate is and focus on the activities that produce that rate, consistently.

Creating uninterrupted time to concentrate on the high priority items or activities that will improve business is the most elusive. For sales professionals, prospecting is the number one action for success. Eliminate all distractions and interrupts for four of the eight hours a day and a successful sales career will be secure. Place your phone calls on hold, offer a voice mail recording identifying specific times when you return calls, and outline time lines for specific activities, such as prospecting, paperwork and calls outside the office.

Take time to periodically examine your life and business plan. If you haven’t developed these plans, do so. A focused plan allows inspection of each project, person or activity, and the determination of the time and effort associated with it. Align purpose with your life and business model. Learn the advantages of using OPE-Other Peoples Energy and Expertise and delegate responsibilities whenever possible. Your time is important, as well as the use of capital and talents.

Time is a statement of starting, leaving or arriving and is what's expected. To be slightly early sends a message of purpose, courtesy and respect - to others and yourself - and assures better results over time.
To be even one minute late (consistently or not), implies a message of rudeness.

Time is serious. Respect time. Be organized, be prompt, respect the time of others and develop continuity within each day; the positive impact will improve business, and create trust.

Ralph Waldo Emerson said, "Activity is contagious." Have an impact. Enjoy great results. Embrace the early start. Go long. Inspire yourself and others.”marketing.

 

3:05 PM - Jun. 15, 2008 - comments {0} - post comment

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