What Makes Denver Great!

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Taking care of energy efficient light bulbs

 We've all heard that using compact fluorescent light bulbs (CFLs) is one very simple thing we can do to have a big impact on the amount of energy we use. In fact, if every American home replaced just one incandescent light bulb with an ENERGY STAR qualified CFL, we would save enough energy to light more than 3 million homes for a year, more than $600 million in annual energy costs, and prevent greenhouse gases equivalent to the emissions of more than 800,000 cars.

Most CFLs contain some elemental mercury. It is a necessary component of energy efficient light bulbs, allowing them to use up to 75% less energy and last up to 10 times longer than regular bulbs. The amount of mercury used depends on a few factors, but the average is between 3.5 and 15 milligrams. Compare that to older fever thermometers, which contain about 500 milligrams, and you see it's a relatively small amount.

No mercury is released as long as the bulbs remain intact – exposure is only possible when one has been broken. Still, there are definite precautions you should exercise when using CFLs, particularly with their disposal.

Disposing of Burned-Out Bulbs
Simply throwing your old bulbs in the garbage will result in breakage and the release of mercury into the environment. Although most states do not have recycling requirements for CFLs, the EPA strongly encourages the recycling of all mercury-containing bulbs when they burn out, regardless of their mercury content  - almost all parts of compact fluorescent light bulbs can be recycled.

To locate a hazardous waste collection and recycling center in your area visit the EPA's bulb recycling page or Earth911.org. Your local electric company may also have recycling information on its website.

Cleaning Up Broken Bulbs
Now, what to do if one of your fluorescent bulbs breaks? Well, here's where you need to take a little extra care – for your safety and the environment's. In addition to the steps below, which are recommended by the EPA, it is recommended that you first put on a pair of rubber, latex or nitrile gloves.

Before Clean-up: Air Out the Room

1. Have people and pets leave the room, and don't let anyone walk through the breakage area.
2. Open a window and leave the room for at least 15 minutes.
3. Shut off the central forced-air heating/air conditioning system.

Clean-Up for Hard Surfaces

1. Carefully scoop up glass pieces and powder using stiff paper or cardboard and place them in a glass jar with metal lid or in a sealed plastic bag.
2. Use adhesive tape, such as duct tape, to pick up any remaining small glass fragments and powder.
3. Wipe the area clean with damp paper towels or disposable wet wipes. Place towels in the glass jar or plastic bag.
4. Do not use a vacuum or broom to clean up the broken bulb on hard surfaces.

Clean-up for Carpeting or a Rug

1. Carefully pick up glass fragments and place them in a glass jar with metal lid or in a sealed plastic bag.
2. Use adhesive tape, such as duct tape, to pick up any remaining small glass fragments and powder.
3. If vacuuming is needed after all visible materials are removed, vacuum the area where the bulb was broken.
4. Remove the vacuum bag (or empty and wipe the canister), and put the bag or vacuum debris in a sealed plastic bag.

Clean-up Steps for Clothing, Bedding and Other Soft Materials

1. If clothing or bedding materials come in direct contact with broken glass or mercury-containing powder from inside the bulb that may stick to the fabric, the clothing or bedding should be thrown away. Do not wash such clothing or bedding because mercury fragments in the clothing may contaminate the machine and/or pollute sewage.
2. You can, however, wash clothing or other materials that have been exposed to the mercury vapor from a broken CFL, such as the clothing you are wearing when you cleaned up the broken CFL, as long as that clothing has not come into direct contact with the materials from the broken bulb.
3. If shoes come into direct contact with broken glass or mercury-containing powder from the bulb, wipe them off with damp paper towels or disposable wet wipes. Place the towels or wipes in a glass jar or plastic bag for disposal.

Disposal of Clean-up Materials

1. Immediately place all clean-up materials outside in a trash container or protected area for the next normal trash pickup.
2. Wash your hands after disposing of the jars or plastic bags containing clean-up materials.
3. Check with your local or state government about disposal requirements in your specific area.

Future Cleaning of Carpeting or a Rug: Air Out the Room During and After Vacuuming

1. The next several times you vacuum, shut off the central forced-air heating/air conditioning system and open a window before vacuuming.
2. Keep the central heating/air conditioning system shut off and the window open for at least 15 minutes after vacuuming is completed.

Additionally, you may read about what never to do with a mercury spill on the EPA's website.

Health Effects of Mercury Exposure
Elemental mercury usually causes health effects when it is breathed in as a vapor and absorbed by the body through the lungs. Some symptoms of mercury poisoning can include tremors, mood swings, muscle weakness, and headaches. With higher exposure there may be serious effects, including death. To read more about the health effects of exposure to mercury, please click here. If you are worried about your exposure to mercury, please consult your doctor.

Something as easy as replacing your light bulbs can make a significant difference in the amount of greenhouse gases emitted by power plants, not to mention the savings you'll see on your electric bill. Just make sure you're taking the necessary steps to ensure your safety – and the environment's

4:10 PM - Nov. 18, 2008 - comments {1} - post comment

The Salt of life

 This article is by Kirk Leins who has been cooking his entire life. No stranger to professional kitchens, he currently devotes most of his time to cooking instruction, food writing, and producing television.

Salt – it is a simple word, yet a complicated subject, well kind of. Scientifically speaking, it is a very basic compound. Historically, however, we are talking about one of the world's oldest and richest resources, with applications ranging from food to textiles. So, do yourself a "flavor" and follow along as I apply a little reasoning to the world's greatest seasoning.

What is salt?
It doesn't seem prudent to begin our examination of salt without first addressing what it actually is. In terms of chemistry, salt is the combination of two elements, sodium and chloride. It is not only one of the most basic molecules on earth it is also one of the more abundant. Salt can be found in seawater, as well as in the form of evaporite minerals (rock salt), typically the result of enclosed waterbeds having evaporated.

The compound known as salt is absolutely crucial to life as we know it. Our bodies actually require it in order to regulate fluid levels. Salt also happens to be pretty important to the world's economy, as it has literally thousands of commercial applications. Paper, dyes and detergents all contain salt. Think about how many products and services utilize at least one of the three. It is also used to soften water, deliver trace minerals to livestock, keep our roads free of snow and ice, and preserve food.

Salt even has a deep meaning within many religions. In Catholicism, its use as a purifier dates back to the Old Testament. It is believed that the word "salvation" actually stems from this practice. In Judaism, salt was used historically as a temple offering on the Sabbath. To this day, salt water is part of a traditional Passover dinner, symbolizing the tears of Jewish slaves. In eastern religions such as Buddhism and Shintoism, salt is thought to drive away evil spirits.

If you haven't already figured it out, salt is such a large subject that a complete examination would require a doctoral thesis. My goal, rather, is to impress upon you one idea - salt is hugely important to the body, mind and soul.

3 types of salt
Before we go any further, I think it's important to talk about some of the more popular types of salt for cooking, as well as their more common uses.

Iodized Salt (table salt)
This is the stuff that's found in most saltshakers. It is made by filling salt deposits with water and allowing it to evaporate. The crystals left behind are then refined and iodized. If you're asking why the iodine, it was an attempt on behalf of the Morton Salt Company in 1924 to reduce the number of goiters in Americans. Strangely enough, it worked!

Personally, the only time I ever utilize table salt is if I'm at a restaurant and my food comes to me under-seasoned. I hardly use it at home as I don't cook with it, and rarely do I bake with it. It's considered to be very salty in flavor and due to its superfine texture it is difficult to determine how much you're actually using without measuring it first.

Kosher Salt
Aside from iodine not being added, Kosher salt differs from table salt because it is raked when harvested. This process yields larger and more square-shaped grains. While the salt itself is Kosher, its name actually reflects its use in the process of Koshering meat. That being said, Kosher salt happens to be an awesome everyday salt. Aside from being inexpensive, it is less salty than its iodized cousin and the larger grains allow for easy handling. It can be used for cooking and as a tableside condiment.

Sea Salt
Available in both fine and coarse grains, as well as flakes, sea salt is obtained by evaporating seawater. Since there are many seas, it shouldn't be hard to imagine that there are many types of sea salt, ranging from cheap to costly. The inexpensive stuff can be used just like Kosher salt. The more expensive sea salts should either be used for smaller applications, or as a finishing touch to a special meal. Sea salt has become a diverse business, as many are now being infused with wonderful flavors, such as truffles and various herbs.

4:04 PM - Nov. 16, 2008 - comments {0} - post comment

Treat your teeth this holiday season

 The holidays are approaching quickly. And that means you'll soon find yourself in a season of sugar and sweets that extends from Halloween night to New Year's Day. While many people are conscious of the toll that holiday food can take on their weight–and their waistlines–many people forget that the holiday season can be just as hard on their teeth.

The reason for the extra wear on your teeth is actually pretty simple. Your teeth and gums are covered with a sticky film called plaque. Most of us have heard of plaque, but we may not know how it leads to tooth decay and cavities. Essentially, when the plaque on your teeth comes in contact with sugar or starch, it begins to produce acid... and that acid eats away at your tooth enamel. With that in mind, it's easy to see how the constant snacking and sugary treats of the holiday season can wreak havoc on your teeth.

To help make sure your teeth stay healthy this holiday season, follow these tips from the American Dental Association (ADA).

Avoid sticky situations. Sticky treats–such as gummy candies, hard candies, and even the sweets in fruit cakes–don't wash off your teeth as easily as other sweets, like chocolate. As a result, the stickier treats sit on your teeth longer, slowly eating away at your teeth minute by minute.

Eat dessert with your meal. While you're chewing your meal, your mouth produces additional saliva. That saliva not only helps break down the food for your stomach, but it also helps neutralize the acid produced by plaque and it helps rinse those sweets off your teeth.

Don't snack between meals. Sugar causes your mouth to produce acid. But so does starch. That means, in addition to candy and cookies, you can add things like bread, crackers, and even cereal to the list of snacks that can harm your teeth. Now add to that the fact that your mouth continues to produce acid up to 20 minutes after you eat. That means, if you snack between meals, your mouth may be producing acid nearly all day long. So, if you can, cut down on the between-meal snacks. If you're hungry and absolutely need something to eat, choose a healthy alternative like vegetables, fruit, cheese, and even yogurt to help minimize the acid production.

Chew gum. Chewing gum is a lot like chewing food... your mouth can't help but produce a lot of additional saliva. And as you know from the tips above, saliva helps combat acid and helps rinse your teeth. So, after a meal or a snack, toss a piece of sugar-free gum in your mouth and help fight tooth decay with each chomp.

Drink plenty of water. Like saliva, water helps rinse your teeth clean. Better still, water that's fortified with fluoride helps give your teeth an extra little boost of healthy goodness. So make sure you drink plenty of water during the holiday season. And, if you purchase bottled water, check the label to see if the contents include a dose of fluoride.

Brush-a-brush. Remember to brush your teeth at least twice a day and floss at least once a day. For an animated look at how to best brush and floss your teeth, watch the ADA's animated tips for brushing and flossing.

Finally, remember to visit your dentist regularly and make sure to mention any issues or concerns you have. By following these simple tips, you can help ensure that your teeth stay healthy while you enjoy the holiday season.

3:59 PM - Nov. 14, 2008 - comments {0} - post comment

Protect your finances in perilous times

This article is by The American Homeowners Foundation (AHF)which  is an independent nonprofit consumer organization serving the nation’s 75 million homeowners since 1984.

With the nation possibly facing the most worst financial crisis since the Great Depression, and as many as 6 million homeowners at risk of foreclosure, we all need to review our finances and make sure we are well positioned for the future. Home values, the stock market, and the economy will eventually recover, so the main goal is to make sure we protect our finances as best as possible in the meantime.

The appropriate action is related to your liquidity. If you have enough cash and liquid assets to cover one year’s worth of living expenses, you’re in pretty good shape for the near term. Liquid assets include things that are often overlooked, such as IRAs, 401Ks, cash surrender or withdrawal value for life insurance and/or annuity funds that are immediately accessible, so you may be in better shape than you think. There may be penalties associated with some of those withdrawals, so tap them only as a last resort.

While regularly reviewing your financial status is a good idea for everyone, there may be no need to modify a thoughtful and balanced long term financial plan if you have sufficient liquidity. Homeowners with minimal liquid reserves need to take action soon to strengthen their ability to access cash if they need it in increasingly uncertain times. Uncertain economic times can threaten even the safest jobs, and jobs take longer to find during a recession. For homeowners with less than a year’s liquid reserves, a top priority should be to protect their limited liquid assets, look for ways to expand liquid assets, and look for ways to improve your ability to get additional cash in the future if you need it.

Here are four important steps smart homeowners should take to protect their financial security:

1. Review your home financing structure and take action if necessary. If you have a 30 year fixed rate loan at current mortgage interest rates or less, no action may be necessary if your have enough cash and liquid assets to cover one year’s worth of living expenses. If not, refinancing your mortgage to reduce payments or prevent future payment increases may be a good idea if you have equity in your home.

If you have sufficient equity and your credit score is sufficient, you may be able to take out cash in the process, which is a particularly good idea if you have little savings and/or you can significantly lower your mortgage interest rate through refinancing. If liquidity is a challenge and you are eligible for a home equity line of credit, apply now so it will be in place in case of a crisis.

Things are trickier for homeowners with mortgages that are “underwater” (the mortgage balance exceeds the home’s current market value). Most lenders won’t forgive the difference unless you’re behind on payments and are out of money, and even then they are far more inclined to a restructuring that would temporarily reduce payments to an affordable amount while maintaining the mortgage balance.

A new “Hope for Homeowners” FHA program going into effect October 1, may enable some homeowners to get part of the mortgage debt forgiven and refinance with a 30-year fixed rate mortgage. Yet other alternatives may emerge out of the current Wall Street rescue effort over the next few months. In most cases a foreclosure should be avoided if possible.

In some cases it is unavoidable and in others may actually be in the homeowner’s best interest. Some financially-pressed homeowners whose mortgage balance far exceeds their home’s value have recognized that it will probably take many years for the home’s market value to catch up with their mortgage balance. In the meantime they are also trapped in their present home and unable to sell and take advantage of better job opportunities in other areas.

By the time home values do catch up, many could have restored the damage done to their credit rating by a foreclosure, and they would have advanced in their career as well.

2. Review the allocation of your other investments. Experts recommend diversification in good times and bad. If you do not have enough liquid assets to cover at least one year’s worth of living expenses, rebalance your investments to minimize the risk of further erosion of their value. Sell individual stocks and mutual funds and buy conservative investments like AAA bonds and federally insured savings accounts and federal, state and local bonds. They will hold their values in declining stock markets. While conservative investments will also trail other investments in appreciation when the market recovers, it’s better for homeowners with liquidity to be safe and miss out on some opportunity for investment growth until the market recovers.

Conversely homeowners who are in good shape financially probably needn’t restructure a well balanced investment portfolio. When recovery begins, appreciation of securities will outstrip growth of more conservative investments. Timing such market changes is notoriously difficult, and homeowners with balanced investment portfolios are usually better advised to stay in the market and benefit from all of that recovery.

3. Make sure your investments, insurance policies, IRAs, and/or annuities are adequately insured. Bank deposits are covered by the Federal Deposit Insurance Corporation (FDIC), which guarantees bank account balances of up to $100,000 in a single bank ($200,000 for joint accounts). If you have accounts in more than one bank, each account is covered by those limits. FDIC protects IRAs kept in bank accounts up to $250,000. Make sure that any other investments through stockbrokers or other financial service firms are insured by the Securities Investor Protection Corporation (SIPC). SIPC protects the assets in your investment account from losses due to a financial services firm’s bankruptcy, but it does not protect you from losses due to stock market declines. SIPC covers up $500,000 per customer, including up to $100,000 for money market funds.

With the failure of giant insurer AIG, many homeowners are concerned about the status of their life insurance and/or annuities. Life insurance policies are insured by each state’s guaranty association. Typical coverage is $100,000 in cash surrender or withdrawal value for life insurance and $100,000 in withdrawal and cash values for annuities.

4. If you need to improve your liquidity reduce unnecessary personal expenses, and stop making any extra payments on your mortgage. To build your savings, cut back on expensive vacations and non-essential activities like hobbies and expensive restaurants. Look for other ways to save money as well (never a bad idea even if your finances are strong).

3:29 PM - Nov. 12, 2008 - comments {0} - post comment

Decorate warmly for the season

When the weather begins to turn cold, take cues from fall to warm up your world. Think about the decorating styles that appeal to you and use the following tips for guidance:

- Look to Elemental Colors: Air, earth, fire and water; nature inspires the most beautiful colors. Colors reflecting air will make your home breathe. earth inspired colors will ground and calm a room. Colors pulling from water inspire playful fun and lastly those reflecting fire will say bold confidence.

- Take Natures Cues: As the air turns cool, nature gives us clues as to which colors make your home feel warm and cozy in the fall. Look around at the fall foliage and you’ll see vibrant golds, rich reds, deep chocolate browns and toasty oranges. These colors inspire life and energy as the days get darker and cooler. Look for ways to incorporate these colors and sceneries into your room décor.

- Go Natural: With the increasing focus on the environment, there are abundant products available today that reflect and are good for nature. These products often incorporate earthy colors and textures; a perfect theme for fall. Choose eco-friendly shades which are PVC-free and 100% recyclable. Check out the eco-friendly wallpaper made from recycled material or sourced from managed forests.

- ‘Tis the Season: Carve out a tall pumpkin and use it as a flower vase or use small pumpkins for candles. A throw pillow, bowl of fresh citrus fruit or a bouquet of cut flowers are inexpensive ways to provide some color pop while welcoming your guests with the feel of nature.

- Come Together: Gather around the fireplace. Rearrange your furniture to set your fireplace, instead of the TV, as the focal point of the room. Footstools, ottomans, and floor pillows by the fire create an inviting, warm atmosphere that will get you through the harshest days of winter. And if you don’t want the hassle of starting and maintaining a fire, try placing tall white candles in the fireplace for a similar glow.

- Go Vibrant: Add a few splashes of vibrant color. They enrich any look and keep you from feeling drab. Deep colors also inspire confidence. Use an area rug to add warmth and personality to any room.

- Go Circular: Designing a wreath is one of the easiest DIY projects you could hope for. And this time of year there is an abundance of colorful items to choose from at your local craft store or around your home. Get the kids involved and make it a family project.

- Prepare for Winter: Now is the time to prep your home. There are several easy steps you can take. Consider insulating cellular shades or lined window treatments such as thermal curtains or foam-backed draperies for older, drafty windows. Insulate your water heater with insulation wrap. Seal leaks and drafts with caulk or weather strips. Clean your furnace and change your air filter. And lastly, but certainly not least, install a programmable thermostat. This allows you to conserve energy during the day while you’re at work and at night while you sleep, but still come home or wake up to a warm, cozy home.

This fall season homeowners can add color and style even on a budget.

6:07 PM - Nov. 10, 2008 - comments {0} - post comment

Things to do in Colorado

Discover Colorado and soak in the breath-taking colors as well as some local attractions. Get out there and explore this glorious state we call home.

Pikes Peak Country 
The Pikes Peak area has plenty to offer so here are some suggestions.
• Your first stop is the Cheyenne Mountain Zoo and the new Rocky Mountain Wild exhibit. Get to know Colorado’s wild heritage including mountain lions, moose, otters and more. This zoo is the only private mountain zoo in the U.S.; take the Sky Ride for an aerial view.
• Your next stop is to see Seven Falls, a waterfall cascading 181 feet in seven distinct steps. Evening viewing is even more beautiful with a full moon.
• If you are a history buff, visit the Ghost Town Museum. Learn about the gold fever that swept through the West and see authentic preserved artifacts; you can even pan for gold!
• Check out the Garden of the Gods, with over 300 sandstone rock formations you can either drive through or walk/hike. This park is a great picnic spot.
For more information on these attractions visit: www.pikes-peak.com/.

Denver
• Spend some time in the capital of Colorado. The Capital building has a lot of history and heritage that some of us might not be aware of. Colorado rose onyx (also known as Beulah red marble), a type of stone so rare that all known reserves were used in the capitol’s construction. Did you also know that in order to keep the gold luster in the capital’s dome they had to reapply gold from Italy in 1991? Take a day to soak in Colorado’s heritage. Tours are offered every 45 minutes. 
• Visit the ‘Unsinkable’ Molly Brown House. Molly Brown was one of the few survivors of the Titanic. This house, now museum, was the family home and in 1902 served as the Governor’s Mansion. Learn more about Molly Brown and all of her accomplishments. Tours available Tuesday through Sunday. 
• Learn something new everyday and stop by the Denver Museum of Nature and Science. Enjoy a variety of exhibits, programs and activities for the entire family. The museum also offers an IMAX™ movie theatre and the world’s most advanced digital planetarium.
For more information on your weekend trip in Denver visit: www.colorado.com, www.denver.org, www.dmns.org

Fort Collins
• Fort Collins is the second largest producer of beer in Colorado, and if you don’t believe it, see for yourself on the Foam on the Range Tour. Visit and taste brews from five different breweries in town including traditional ales and stouts to the unconventional, yet delicious pomegranate wheat.
• Visit the Swetsville Zoo and experience a unique exhibit of animals, however they aren’t alive. This zoo is a sculpture park and the animals are made from recycled farm machinery, auto parts and assorted metal.
• Spend a day shopping in Fort Collins. Shop for western clothing, antiques, sporting goods and stop for some homemade ice cream and toffee! Visit Historic Old Town and take pleasure in this unique shopping experience.
For more information on attractions and lodging visit: www.ftcollins.org

Glenwood Springs
• Glenwood Springs is famously known for its hot springs and rightfully so. At the Hot Springs you can soak in the therapy pool, swim laps or cool off in the deep end. This lodge offers fun for the entire family with a diving pool, waterslides and kiddy pool. If you stay for a weekend you get unlimited hot spring access.
• Since you will be spending the weekend in Glenwood Springs you should also visit the Glenwood Caverns Adventure Park. Experience horseback riding on Iron Mountain or challenge yourself on the climbing wall.
• With all of these adventures you will be in need of some relaxation in which the Vapor Caves will come in handy. Once a sacred healing destination for the Ute tribe, these underground caves are the only natural hot springs-fed vapor caves in the world. They are decorated with marble benches where visitors can relax and the upstairs spa features body and beauty treatments.
Visit www.glenwoodchamber.com for information on lodging and activities.
 

5:56 PM - Nov. 8, 2008 - comments {0} - post comment

We all have a home office

This article is by Lorrie Browne, a licensed Interior Designer, who shares her decorating expertise with easy-to-follow tips, practical advice, and hundreds of categorized online retail sources at www.mydesignsecrets.com.

When it comes down to it, we all work from home. Whether it’s the place where you earn a living or where you keep your family’s lives in order, you need space for the computer, paperwork and a few paper clips. Otherwise it’s a constant game of “Where did that bill go?” or “Please don’t play with my computer.” A clearly defined workspace not only creates an area for all the “stuff” but it also creates a private space that gains respect from those around you. From closets, to guest rooms, to an entire dedicated room, here is a simple plan to help you create a beautiful, comfortable and productive atmosphere.

1. Know your needs - Assess what currently works and what does not. Clean out the space and make sure your storage is adequate. Beyond file cabinets, consider baskets, bins and shelving.

2. Develop a floor plan - Don’t try to crowd too much furniture in the room and consider pieces that can pull double-duty. Ballard Designs has a cool little Home Office Kit to help you plan your space. Or just get out some graph paper, pencil and ruler and design the space yourself.

3. Create the Right Environment - Make it a comfortable and supportive environment for your creativity and concentration. Though I encourage you to go with your gut on color, here are some basic color/mood associations that might give you a boost:

Blue - calm, orderly, water
Green - nature, health, renewal
Orange - balance enthusiasm
Purple - spirituality, wisdom
Red - energy, strength
White - pureness, simplicity
Yellow - joy, optimism

4. Architectural Elements - If your budget and time allow, then go for the gold with new flooring, molding and lighting. My friend and trusty Web developer, Andrew, is redoing his office so I put together these tips with him in mind.

Flooring: I recommend hard surfaces with wood topping the list. Carpeting can get dusty and I like to keep the area around the computer equipment super clean.

Molding: Be bold with base and crown moldings. Don’t look to the original molding for size. Often they are wimpy and small. If you have 9 foot ceilings then anything up to 9? each for the crown and the base is fair game. I usually make the base a couple of inches less than the crown. Mixing traditional moldings with modern furniture gives the space a designer touch.

Lighting: The best lighting for a workspace is a combination of good general lighting (such as recessed lighting) highlighted with some task lighting (lamps).

5. Personalize: Working from home allows you to personalize your space and really make it your own. There are no rules! Highlight the room with your favorite painting or a lamp with a cool shade. Use a cork-board for special mementos or family photos. Just make sure your office portrays an air of professionalism if you meet with clients in your home.

Artwork, lamps and accessories give some pop to this mostly black and white space.

It doesn’t take much to turn a simple space into a home office. And the boost to your efficiency and peace of mind will be priceless.

5:51 PM - Nov. 6, 2008 - comments {0} - post comment

Get healthy and stay healthy

This time of year means the return of something less than fun... the dreaded cold and flu season. And the cost of the season is nothing to sneeze at! Did you know that Americans spend approximately $4 Billion on over the counter cold and flu remedies? That's not even factoring in how much time and productivity is lost on sick-time in the workplace, or co-pays for doctor visits and prescriptions.

To Help Stay Healthy, Start Following These Quick Tips Now:

Determine how susceptible you are. Start by asking yourself a few simple questions: Were you ill several times last year? Do you frequently feel fatigued? Do you sleep less than seven hours per night? If you answer yes to several of those questions, it may be a good idea to consult your doctor for a pre-flu season check-up.

Build up your immune system. Take the time now to catch up on sleep and get a flu shot. In addition, make sure you're getting enough Vitamin C and Zinc. Taking these supplements has been shown to markedly reduce cold symptoms.

Wash your hands frequently. Hand-to-mouth contact is the most common way that people get sick, so keep those hands clean and encourage your family to do the same. You can also carry a hand sanitizer with you to keep your hands germ free when you can't wash.

Wash your nose? Here's a little known--yet effective--tip for combating the cold and flu season. By using a simple saline nasal wash or nasal irrigation, you can actually help rid yourself of colds and allergies. Although it doesn't look pretty in action, it's effective in washing away germs and particulates, as well as healing and protecting your nasal passages. The fact is, when dry winter air makes the tissues inside your sinuses dry and cracked, germs have a perfect place to live and breed, which makes you sick more easily. But a saline nasal wash, available at most drugstores, can lubricate, protect and clean those nasal tissues to help keep healthy. And it may help reduce snoring!

By taking a little time to protect yourself from illness, you can help make sure that you are able to enjoy the things that are important to you... like spending time with family and friends, working hard at your career, and remaining healthy and active during the fall and winter seasons!
 

5:41 PM - Nov. 4, 2008 - comments {0} - post comment

Managing in this economic climate

The U.S. economy has taken a turn to tougher times, and many citizens are feeling the pinch. To help ease the strain, Bills.com President Ethan Ewing offers five specific areas of economic tightening — and suggests actions individuals can take.

“About five years ago, low interest rates were on their way out; Americans were dipping into home equity; gas prices averaged less than $1.50 per gallon; and with the dollar at a record high in 2002, we could jet-set and import to our collective heart’s content,” Ewing noted. “Today, of course, the picture has changed dramatically.”

Bills.com provided these five points to help individuals update their financial plans to reflect the biggest changes in Americans’ personal economies.

1. What and how you drive.

• Then: SUV sales peaked at 56% of all vehicle sales in 2004, when gas cost $2 a gallon.
• Now: With gas prices around $4 a gallon in most U.S. markets, large SUVs were 8% of all vehicle sales in 2007.
• What to do: Choose a car that fits your budget and lifestyle. If you require a lot of seats or cargo space, find the best mileage you can, while bearing in mind safety and other factors.
• “If you own an SUV that you cannot sell, do not panic,” Ewing said. “Holding a vehicle often makes more sense than taking a big financial loss. If gas prices are crunching you, look into other options, such as walking or bicycling to work, carpooling, taking public transit, finding a job and home that are located closer together, or investing in an inexpensive means of transportation, such as an older, good-mileage vehicle or a scooter.”

2. Interest rates.

• Then: Interest rates on conservative investments ranged from 0.6% for passbook savings to 2.9% for a five-year certificate of deposit (CD).
• Now: Rates are slightly higher — nearing 4% as of this writing — for a five-year CD and comparable on other products.
• What to do: Interest rates tend to be fairly consistent across institutions, but do research and invest accordingly. Consult a reputable financial advisor for counsel.

3. Financial security.

• Then: Just 10 banks failed nationwide between 2003 and 2007.
• Now: In February, CNN reported that more than 100 banks could fail within the next year or two.
• What to do: Be sure your money is insured. Check your bank’s documents to be sure they have the Federal Deposit Insurance Corporation (FDIC) mark. The FDIC insures individual deposit accounts up to $100,000, and IRAs up to $250,000. Ask the bank to be sure, or check with the FDIC (www.fdic.gov). Credit union deposits are covered by the National Credit Union Administration.

4. Home equity.

• Then: In 2002, Americans borrowed $130 billion from their home equity — twice the rate of the previous year. Banks advertised home equity loans at a furious pace.
• Now: Many banks no longer offer home equity loans, and homeowners with pre-approved credit lines have seen their total credit lines slashed.
• What to do: Considering that home values have, at best, held steady, and in some areas dropped up to 50% in the past few years, many homeowners should be grateful if they are not in debt trouble on their home. If you were relying on a line of credit, look at new options. If you wanted to borrow to remodel and you have substantial equity, talk to your banker to evaluate your choices. If you were counting on a line of credit for an emergency fund, look at other options, from saving regularly to build a cash fund, to selling the home and downsizing to be better prepared for retirement or a lifestyle change.

5. Inflation.

• Then: In 2002, someone earning $36,764 per year was about average across the United States.
• Now: To have the same purchasing power, in 2007 a worker would need to earn $42,372 — nearly a 14% increase. Yet the Bureau of Labor Statistics reports the mean annual earnings of all workers in 2007 as $41,994. Couple that with a consumer price index that has increased by 6.2% in the last 12 months, and no wonder many people feel a pinch.
• What to do: Now more than ever, it is important to learn to live within a budget. Careful planning and a realistic perspective can reduce the stress of overspending.

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

Good news for consumers

”Ironically enough, consumers benefit in three ways from all the turmoil going on right now on Wall Street,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. These benefits include:

1 - Greater Negotiating Power on Underwater Mortgages. “Wall Street is finally marking down the value of their mortgage related assets to levels where it is very attractive for mortgage servicers to negotiate with distressed home owners and modify their mortgages,” said Nicholas. Consider this illustration for more details:

http://www.cmpsinstitute.org/pdf/WriteDownsandHomeownerNegotiatingPower.pdf

Also, more info on this can be found on this through a recent television interview conducted on Monday, September 15, between Fox 2 Detroit and CMPS Chairman Gibran Nicholas:

http://www.myfoxdetroit.com/myfox/pages/Business/Detail?contentId=7438423&version=2&locale=EN-US&layoutCode=VSTY&pageId=4.1.1

2 - Profit on Sale of Financial Assets Acquired through Government Takeovers. “The crisis with AIG is kind of like a homeowner who owns a $1mm house and can’t afford next month’s payments on their $100,000 mortgage,” said Nicholas. “Even as it is virtually impossible to expect the homeowner to sell their $1 million home at a fair price in just one week, is also very difficult for large companies like AIG to sell assets and raise capital in short periods of time. The only difference between AIG and the homeowner in this scenario is in the number of zeros involved. The US Government is the only entity that is large enough to help AIG raise enough funds in such a short period of time in order to help the company maintain its financial obligations. It’s as though the government just got 80% control of that $1mm property in exchange for giving the property owner some more time to sell the property at a decent price.”

The Fed stands to make over 11% interest (LIBOR + 8.5) on the $85 billion line of credit they extended to AIG yesterday. Also, through the 79.9% equity stake the government now has in AIG, taxpayers stand to make a profit when the government sells AIG’s assets in the coming months in order to repay the loan. “Just because you can’t sell something quickly in two or three days doesn’t mean it isn’t worth anything,” said Nicholas. “AIG just needs time to sell some of their assets in an orderly fashion and at a fair price.” The loan from the Fed gives them that time and taxpayers stand to profit because they just became AIG’s biggest shareholder at virtually no cost other than the short term Fed loan.

3 - Low Mortgage Rates. Interest rates on fixed rate mortgages are tied to the Fannie and Freddie mortgage bonds that trade on the bond market. As Wall Street goes through crisis, and as the government bailout of Fannie and Freddie makes their bonds very attractive and almost risk-free for investors, mortgage rates should remain low throughout the near future. “American homeowners can take pride that their borrowing costs are among the lowest in the world, and even lower than the rates that many of the big Wall Street firms are paying right now,” said Nicholas. “Even if you have an adjustable rate tied to the LIBOR or Prime index, these rates should also remain low well into 2009 because they closely track the Fed Funds rate that is controlled by the Federal Reserve. The Fed really has no desire to increase interest rates in the middle of credit crisis.”

The only losers in this scenario are the homeowners who don’t qualify for Fannie and Freddie loans. “Unfortunately, these home owners will continue to see their borrowing costs increase due to the credit crisis and lack of liquidity among banks and financial institutions,” said Nicholas.

2:08 PM - Oct. 31, 2008 - comments {0} - post comment

Keep your home pest free

This article is by Carl Brahe, Certified Home Inspector and Certified Commercial Inspector.

In Colorado we have few pests compared to most places. Our dry climate make it harder for moist environments to exist that most pests require to survive. For pest to live in our homes they must have a way to enter, sufficient moisture and food to live. The food is usually other pests.

Summer is the most common time for insects and arachnids to move into your house. Birds like woodpeckers may move in during spring to nest. Fall is the most common time for rodents to move indoors.

To get into your house pest must have a way to enter. Insects and arachnids can enter through very small spaces, hitch a ride on people, pets, plants and produce, or hatch inside the house.

Mice need a hole only the size of a dime to enter and can squeeze under a door with a gap of ¼ inch. Rodents will use existing holes for entry but can also make their own. Rats are such tremendous chewers that they sometime chew through plumbing to get water.

This roof belonged to a man who enjoyed squirrels so much he nailed a board between a tree and the house for easy access for the squirrels. They chewed a hole through the roof and made a nest in the attic.

1:56 PM - Oct. 29, 2008 - comments {0} - post comment

Choose the best lender

With all of the mortgage industry’s recent changes, especially those related to high loan-to-value loans, credit score-based pricing, and increased scrutiny around appraisals, choosing a mortgage lender is critical.

1. Liquidity is tightening, and a lot of mortgage companies are struggling to fund their loans. Correspondent lenders’ credit lines are shrinking, and brokers have less “wiggle” room with their wholesale lenders, scared by their new re-purchase agreements. Borrowers should be encouraged to work with well-capitalized lenders, ensuring their funds will be there when needed-at the closing.

2. Borrowers should always work with a lender that can accommodate all types of loans, including FHA, VA, Conforming and Non-Conforming loans. With the recent price increases with PMI (private mortgage insurance), FHA has become much more attractive than in years past. With recent MIP (FHA’s mortgage insurance premium) changes, higher credit score FHA buyers, even those with 10% down or more, may benefit by comparing an FHA loan with a similar conforming loan.

3. Buyers should always get preapproved, as opposed to prequalified. With no assurances of what future mortgage industry changes will look like, buyers’ agents should ensure that their time investments are going to pay off in the future. In order to do this, agents should insist on a fully underwritten preapproval (subject to appraisal) before house hunting and presenting an offer. Likewise, sellers should always demand, before tying up their property for 30 days or more, that a “preapproved” offer is being presented.
Nobody benefits when a listing is “tied-up” to find out later that a “prequalified’ borrower’s underwriting terms have changed and, as a result, no longer qualify for a loan.

4. Sellers, if mortgaging their next transaction, should also get preapproved prior to listing their current home. With recent mortgage changes, some sellers may not qualify for a new home loan after they sell their current residence. None of us needs the humbling experience of explaining to a recent home seller that they have to lease rather than buy, after the fact.

5. And lastly, recent documentation changes have slowed the processing time for many loan types. Agents should recommend to their clients that they should work with a lender that will give them an “on-time” closing guarantee. A responsible lender will “put their money where their mouth is” if they are confident of their service offering, motivating them to hit that important closing date.

1:51 PM - Oct. 27, 2008 - comments {0} - post comment

Protect Yourself from Wall Street

This article is by CMPS  a training, examination, certification and ongoing membership program for financial professionals who provide mortgage and real estate equity advice.

”With Wall Street engulfed in the biggest financial crisis in a generation, there are a few things that consumers can do to protect themselves from this perilous storm,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. Here are 4 suggestions consumers should consider to protect themselves:

1 - Make Sure Your Investments Are Protected Through the SIPC. The Securities Investor Protection Corporation (SIPC) was created in 1970 as a non-profit, non-government organization funded by its members: broker-dealers that trade in stocks, bonds, mutual funds and other investments in the financial markets. The primary role of the SIPC is to return funds and investments to investors if the broker-dealer holding these assets becomes insolvent.”The SIPC does not cover you if the value of your investments goes down,” said Nicholas. “The SIPC makes sure that you recover the assets in your investment accounts if your stock brokerage firm or the financial institution where you hold your investment account goes bankrupt. For example, if you have an account at Lehman Brothers or any other financial institution that goes bankrupt, the SIPC will make sure that you recover the assets you hold in the investment account. However, if the stocks or other investments that you hold in your investment accounts have lost value due to a decline in stock prices or market conditions, the SIPC will not reimburse you for the lost value of your investments.”

SIPC coverage is limited to $500,000 per customer, including up to $100,000 for cash. “This does not mean that you will only recover $500,000 worth of your account,” said Nicholas. “Under virtually all circumstances, you will recover the full amount as part of the unwinding and liquidation of the brokerage firm.” If sufficient funds are not available in the firm’s customer accounts to satisfy all the claims, the reserve funds of the SIPC are used to supplement the distribution, up to a ceiling of $500,000 per customer, including a maximum of $100,000 for cash claims. Additional funds may be available to satisfy the remainder of customer claims after the cost of liquidating the brokerage firm is taken into account. According to the SIPC website, it typically takes one to three months for investors to recover their property from an account at a failed brokerage firm.

SIPC covers stocks, bonds, mutual funds and other securities registered with the Securities and Exchange Commission (SEC), which is the government agency that oversees the SIPC. The SIPC does not cover unregistered investments such as commodity futures contracts or commodity options. In response to the impending collapse of Lehman Brothers yesterday, the SEC issued a press release specifically indicating that it is taking actions to ensure that those who have accounts at Lehman Brothers will recover the assets in their accounts in the event that Lehman becomes insolvent.

2 - Make Sure All Your Bank Accounts Are Covered with FDIC Insurance. The Federal Deposit Insurance Corporation (FDIC) is an independent federal agency that was created in 1933 to insure bank depositors and protect them against the failure of their bank. The current limit on FDIC insurance is $100,000 for bank accounts and $250,000 for retirement accounts.

“You should make sure that all deposits over the limit are held in separate accounts owned by different individuals or entities,” said Nicholas. “This means that if you are married with two children, you can have one account in your name, one account in the name of your spouse and one account each in the names of your two children, all with the maximum of $100,000 in deposits, and you would still be fully insured for the full $400,000.”

Additionally, if you have a corporation or limited liability company (LLC), your business can also have an account at that same bank and it will also be insured up to the $100,000 limit. The only caveat is that the company must be engaged in an “independent activity,” meaning that the entity is operated primarily for some purpose other than to simply increase your insurance coverage. When two or more insured banks merge, the deposits from the assumed bank continue to be insured separately for at least six months after the merger. This grace period gives you the opportunity to restructure your accounts, if necessary.

If your deposits at one bank exceed the FDIC limits, it’s advisable to move the money and open up some new accounts at other banks that are not affiliated with one another and that are not owned by the same parent company. Additionally, you may consider asking your bank if they participate in the CDARS® network. CDARS stands for Certificate of Deposit Account Registry Service, and it is offered by nearly 2,500 financial institutions across the country. When you place a large deposit with a financial institution that is part of the CDARS network, the financial institution uses CDARS to place your funds into certificates of deposit issued by other banks in the network. This occurs in increments of less than $100,000 to ensure that both principal and interest are eligible for full FDIC insurance.

3 - Max Out Your Home Equity Line of Credit Before Your Lender Cuts Off the Limit. “Lenders have been arbitrarily reducing credit limits on home equity lines of credit,” said Nicholas. “If you still have credit available on your home equity line, it could be very beneficial for you to draw out the money now before the lender reduces your limit. In this environment, it’s probably a safer bet to have the cash sitting in your FDIC-insured bank account in case you lose your job or in case you need the funds for any other reason.”

4 - Stop Making Extra Mortgage Payments and Take Out a Mortgage Even If You Don’t Need One. “Cash is king in a liquidity crunch,” said Nicholas. “The worst thing you can do in this environment is dump more of your cash into your home equity because you may not be able to get access to it if you run into financial difficulties, if the housing market continues to decline, or if the credit crunch gets worse. Although it sounds counter-intuitive, you should have as big a mortgage as possible - even if you don’t need it - and leave as much cash as possible in a safe, liquid place that is readily available to you. This empowers you to weather the storm and also have your funds available to take advantage of bargain opportunities that are becoming available because others have not followed this advice. In this environment, the one with the most cash wins.”

1:43 PM - Oct. 25, 2008 - comments {0} - post comment

Fantasic Freebies

These days, many people are looking for new ways to cut costs and save money. Here are five great ideas from the editors of Kiplinger:

Free TV & Movies: Full episodes of more than 300 shows from NBC Universal and Fox stations are available on www.hulu.com. The site also offers over 165 free full-length movies in a variety of genres. In addition, other networks like ABC and CBS are also starting to post full episodes of various shows on their Web sites.

Free College Savings: Sign up at www.Upromise.com and you can turn everyday purchases into college savings. You'll earn cash rewards for eligible purchases of groceries, gas, dining out, travel, and online shopping. The money is then automatically transferred to your child's 529 account. In addition, your family and friends can help, too, by linking their rewards to your Upromise account.

Free Directory Assistance: The next time you need to call 411, dial 1-800-FREE-411 instead for free directory assistance for both residential and business listings. While you may have to listen to a short advertisement after the voice prompts, you will still save a few dollars.

Free Credit Report: By law, you can receive one free credit report once a year from each of the three main credit bureaus. Visit www.annualcreditreport.com to request your report.

Free Recipes: Need some inspiration in the kitchen? Check out www.allrecipes.com and www.Epicurious.com where you can access over 100,000 recipes for all kinds of meals...no matter your level of expertise. You can search by meal, occasion, or ingredient, and there are plenty of user reviews and cooking demonstration videos to help.

For twenty-five more great freebies, visit www.kiplinger.com/features/archives/2007/08/free.html.

1:29 PM - Oct. 23, 2008 - comments {0} - post comment

Think like a retailer

This article is by Chris Kaucnik is marketing director for Home Warranty of America.

Yes, a home is a large asset-not a coffee maker or an impulse purchase-but employing the innovative techniques we discuss here, adapted from retail strategies, can help you achieve your goals.

See through your prospects’ eyes and consider these three factors about them:

1) Visual judgments are made in a second in today’s environment
2) Sound is a key factor in the sale and often overlooked
3) Distinctive benefits-not common features-impress their memory

Visual-Think Bling

Guide the first portion of your prospect’s walk-through. Show the most irresistible elements of the home first, from a benefits point of view. This mirrors the retail technique of putting the newest, most profitable vanity products toward the front of the store such as cosmetics and jewelry-the hot new merchandise.

Today, clients sort out the basics they are looking for in a home before they view it live. They know it has four bedrooms, a three-car garage, and 2.5 baths when they walk in.

But there may be hundreds of houses for sale in their geographic area that meet these and their other basic requirements. Focus on one or two outstanding aspects of the home, no more. This will set the positive impression.

Where’s the Bling?

A unique feature could be the great, old-brick patio and spa in the backyard, or the professional series appliances in the kitchen. No matter what, every house has them and they can be turned into benefits that sell. Creating this unique, first impression puts you and the house in a special place in your prospect’s memory-even if they go on to see many more homes.

Showing the Bling

While you are showing a unique benefit or two, start an informative conversation perhaps about the neighborhood, schools or shopping. Casually, find out a bit about their lifestyle. Then let the prospect move about the rest of the common areas in the home without you.

Keep your goal in mind which is to make a distinct impression. So instead of telling the prospect there is a clubhouse and pool, mention the fun they will have with the clubhouse and pool in the summertime. There is a difference.

You are painting a scene in their mind. One they could slot their family into easily. Remember, prospects will sub-consciously limit the mindshare they give you, so use it wisely.

This is what a great retail sales person will do. They won’t walk you back to the sales area, but will instead mention all the new, full-priced merchandise up front, ask you what you are looking for and steer you to a particular area. Then, they will let you move to the sales area by yourself.

Audio-Think Ambiance

Don’t discount the value of your prospect’s ears. Great retailers and retail brands view audio as a science and have seen it add greatly to their bottom lines.

Create an audio mood that makes them feel like they can live there and be happy. Sounds direct our feelings, thoughts, actions and speech. When the music fits our expectations, we stay in that environment longer and buy more.

Be creative, what music matches this home’s personality? Chances are it will match the prospect’s personal preference too or be close enough to please. After all, they did select this style of home to view.

Audio Buying Study

In 1998, there was a test conducted in a British wine shop. On certain days, French music was played and on certain days, German music. On German music days, German wines outsold the French by a ratio of three to one and visa versa.

Perhaps it makes sense then to play some music in your listings when prospects are present. Pick different selections for a classical home style then a contemporary one for example, or for a Victorian versus a Spanish and Mediterranean style. You get the idea. This will further differentiate this home from the others for sale in the neighborhood.

8:57 AM - Oct. 21, 2008 - comments {0} - post comment

What $1 million buys

Although both are waterfront cities, something besides the salt water separates La Jolla, Calif. on the Pacific Ocean from Sioux City, Iowa on the Missouri River-a $1.7 million dollar difference in the cost of homes studied in the 2008 Coldwell Banker® Home Price Comparison Index (HPCI). In an annual comparison of similar homes in 315 U.S. markets, La Jolla topped the chart as the most expensive real estate market in the nation with a $1,841,667 average home price. Sixteen hundred miles away in America’s heartland sits Sioux City, the most affordable real estate market in America, where a similar home would cost $133,459.

La Jolla and Sioux City are not alone in representing California and the Midwest. In fact, eight out of ten of the country’s most expensive housing markets are in California, and eight Midwestern cities make the list of the nation’s 10 most affordable home markets.

Differing from most housing reports which compare median prices, the annual Coldwell Banker HPCI, which first launched in the late 1980s, provides an apples-to-apple comparison of similar 2,200 square foot, four-bedroom, two-and-a-half bath homes in 315 markets across the United States, in addition to Puerto Rico, Canada and a sampling of countries/territories outside of North America where Coldwell Banker has a presence.

“This year’s study comes at an interesting time in our nation’s history with the impact of the housing correction and mortgage financing serving as critical economic issues in the presidential election,” says Jim Gillespie, president and chief executive officer of Coldwell Banker Real Estate. “While Americans move for lifestyle reasons, a home is usually a family’s most valuable investment asset. For those who want to get into the housing market, I believe this is the smartest time in my 33 years in real estate to buy a home. Combined with the amount of homes on the market and historically low interest rates, the correction in prices has brought affordability levels down.”

“Looking deep into the survey, half of the markets surveyed showed an average price for this very nice type of home to be less than $300,000 showcasing the affordability of homeownership across our nation,” continues Gillespie.

A “Snapshot” of U.S. Home Affordability

Offering a “snapshot” of affordability across the U.S., the Coldwell Banker HPCI evaluates average home values for select 2,200 square foot single-family dwellings with four bedrooms, two-and-one-half baths, a family room (or equivalent) and a two-car garage.

The cumulative average sales price of the four-bedroom homes surveyed in the 315 U.S. markets (including one in Puerto Rico) covered in the Coldwell Banker HPCI is $403,738, a 4.4% decline from the $422,343 reported in the 2007 Coldwell Banker study.

According to the company, through the comprehensive HPCI section on www.coldwellbanker.com, prospective home buyers and sellers can calculate what their homes may be worth in other areas in the United States and gather preliminary intelligence about the affordability of housing from one market to another.

2008 Coldwell Banker® HPCI - Highlights and Top Market Lists

- La Jolla, Calif., edges out Greenwich, Conn. ($1,787,000) and other West Coast markets as the most expensive U.S. market in the study. Also on the East Coast, Boston, Mass. ranks as the ninth most expensive ($1,493,750). Beverly Hills was the most expensive studies U.S. market last year at $2.21 million. Note: Manhattan in New York City was not included in the study because of the lack of comparable single-family homes.
- Candidate comparison: Barack Obama’s primary residence is Chicago, Ill., where the average home price is $863,300, whereas John McCain lives in Phoenix, Ariz., which averages $288,000.
- Swing states: Both candidates are likely to spend a large amount of time campaigning in several key “swing states” between now and November. The national economy and the housing market represent critical issues for many of these voters. The average price in each of those states is as follows: Colorado ($402,497), Florida ($357,596), Indiana ($224,906), Iowa ($196,134), Michigan ($201,291), Missouri ($212,850), Nevada ($287,375), New Hampshire ($401,697), New Mexico ($478,343), Ohio ($191,051), Pennsylvania ($332,955), Virginia ($309,070) and Wisconsin ($231,044).
- In total, 13 U.S. markets exceed the $1 million average price for the surveyed home. Joining Greenwich and Boston on that list outside of California is Wellesley, Mass. ($1.2 million).
- The Northeast Corridor (from Maine to Washington, D.C.) and California dominate all but five of the most expensive “top 40″ U.S. markets slots - with just one town from those regions (Augusta, Maine) appearing among the top 40 most affordable markets. Texas, led by Arlington, has six of the study’s 40 most affordable markets.
- Canada mirrors the U.S. in that its costliest markets are primarily situated on the West Coast. Vancouver, British Columbia, tops the Canadian list, with comparable four-bedroom homes averaging $1,257,000 U.S. dollars. The most affordable studied market in Canada is Charlottetown, Prince Edward Island ($157,000). The price difference between Vancouver and Charlottetown is a stunning $1,100,000.
- Dubai is the most expensive market studied outside of North America, where an HPCI subject home averages $2.45 million U.S. dollars, 33% higher than La Jolla. Coldwell Banker charts a total of 15 markets outside of the U.S. averaging more than $1 million, including Bucuresti, Romania ($1.9 million) and Madrid, Spain ($1.7 million). Quito, Ecuador, ($96,750) is the most affordable foreign market included in the survey. Nine markets altogether average less than $200,000 including Guayaquil and Samborondo, Ecuador.

8:43 AM - Oct. 19, 2008 - comments {0} - post comment

Grocery Shopping Tips

With food prices still soaring, supermarkets are offering many deals and specials to lure in food shoppers. But sometimes, these good deals can actually cause people to spend more than they would have otherwise. Phil Lempert, author of Being the Shopper: Understanding the Buyer's Choice, offers these smart-shopping tips:

Limit Four Per Person: Scarcity can have a powerful impact on shoppers. A buying restriction can tempt people to buy more than they need, which could cause items to either spoil or sit in your pantry for a long time. Tip: In the long run, when you factor in the amount of products that spoil or are eventually thrown away, you will usually be better off financially if you only buy the amount you reasonably need and can use.

End of Aisle or Freestanding Displays: Often the "specials" displayed on the end caps of each aisle or on an island display aren't really the best deals that the store currently offers. These displays may also lead to impulse buys that you weren't intending to make. For instance, a display with graham crackers, chocolate, and marshmallows could make you think, "I'll make s'mores for dessert." Tip: While the location of these items is convenient, especially during busy shopping hours, you should only buy these items if they really are good deals.

Buy One, Get One Free: While these deals can make you feel like you are getting something for half price, if the cost is more than that of a similar item...or if you don't need a large quantity...than this may be one special worth passing on. Tip: Ask the manager if you can buy one item for half the price instead of buy one get one free. While stores don't always advertise this alternative, they often allow it.

Pre-Sliced Produce: While pre-sliced produce can feel like an easy choice, it can cost twice as much as whole produce, and can spoil faster than whole produce. Tip: Pay extra for prepared meals and produce only if the time and effort they save you is significant and really worth it.

For more great grocery shopping tips, visit www.supermarketguru.com.

11:53 AM - Oct. 17, 2008 - comments {0} - post comment

"Must have" upgrades

It’s a simple formula: upgrades = sold. For a home to sell quickly and for the price desired, it must be “finished” with as many structural and interior design upgrades as possible-and nothing’s too small to leverage in establishing a home’s price point.

From crown molding to faux painting to door handles and cabinet handles/knobs with modern finishes, to more obvious upgrades such as appliances, window, counter, cabinet and floor treatments, to swimming pools and surround sound wiring-any functional or beautification enhancement to a home are considerations in establishing its true value and strategic sale price.

Consider these property value-enhancing upgrade ideas from Robert Jenson, CEO of luxury Las Vegas real estate purveyor The Jenson Group:

–Commercial grade appliances such as Viking or Wolf in a kitchen, along with dual appliances such as ovens, dishwashers, refrigerators and freezers, add greatly to resale value and are always a desirable upgrade.

–The “outdoor living room” concept is extremely popular right now. Whether a palapa, gazebo or other covered section, an outdoor furnished lounge area complete with wiring for lighting, fans, TV and surround sound, fire pit/fire place, and built in BBQ grill will add tremendous appeal - water features will take this asset to the next level.

–Other custom upgrades and finishing such as front entry (or panty) doors with decorative glass inlays, decorative wrought iron stairway balusters, and faux painting treatments will readily set a home apart from the pack…particularly a track home in a master planned community.

–Fixtures should be considered even beyond the kitchen and bath. Door handles, for example, with modern finishes such as brushed nickel, are a great way to add custom appeal to an interior.

–Granite countertops need not be reserved for the kitchen. Master bathrooms in particular, if not all baths in the house, should utilize some kind of stone counter - marble, granite, travertine, etc. - for a particularly notable enhancement that is sure to differentiate a home from others on the market.

11:49 AM - Oct. 15, 2008 - comments {0} - post comment

Selling that car

Getting rid of a vehicle isn't always as easy as it seems. Problems can include everything from being locked in to an ironclad car lease to the inability to sell it for a fair price. Throw in any of the reasons for wanting to dump the car in the first place and what you have is a recipe for a potentially long and frustrating process. Follow along as we explore a few of the options, including some you may not have realized.

Getting out of a car lease
Car leases can pose many advantages for consumers. Typically speaking, lease payments are much lower than payments on a car note, thus allowing a consumer to lease a vehicle that he or she couldn't afford to actually buy. Many people also like the idea of avoiding major repairs by handing back their car after a predetermined amount of years.

While the list of positives doesn't stop there, car leases also carry a few negatives. One such negative is known as a "No Cooling Off" period. Once you sign the paperwork and drive the car off the lot, you have officially entered into a binding contract. There are some consumer laws that allow for a remorse period on major purchases, but automobiles are generally not included. Unless your dealership has broken the law or has leased you a lemon, chances are you are stuck with the terms of your car lease.

So, let's say that shortly after signing on the dotted line for that high-end luxury car, your financial situation changes for the worse and you can no longer afford it. Or, the opposite happens and you find yourself longing for an upgrade. One option is something known as an "early termination" of the lease. The problem with early termination, however, is that it can be costly, very costly. Aside from paying off the amount owed on the lease, there can also be penalty fees and other miscellaneous charges padded into the contract.

Another option is to sell your leased car privately. The problems with this option are that it requires a lot of hard work on your part and it only benefits consumers with cars that have an equal or greater value than their current "buy out" price.

There is one more option for getting out of your car lease and it happens to be the best one for most people. It is something known as a "lease transfer" and the process is just as it sounds. A leaseholder finds someone who is not only credit-worthy, but also willing to assume his or her car lease. Once the terms are negotiated and ratified the remainder of the lease is transferred into the new leaseholder's name.

If a lease transfer sounds like a complicated process, it's because it can be. The good news, however, is that thanks to websites like www.leasetrader.com and www.swapalease.com the lease transfer process has been fully explained and streamlined. These companies basically act as middlemen between the buyer and the seller, providing a forum for listings, as well as hands-on help with expediting the process.

It is important to know that the aforementioned websites as well as most car leasing companies will charge a fee for a car lease transfer. However, assumption of these fees can be negotiated between the buyer and the seller. They are also much less costly than the fees associated with terminating your lease early.

Whatever you do, avoid relinquishing the car to the dealer and abandoning the lease altogether. Doing so will most likely show up as a repossession on your credit report.

Selling a car that you have purchased
If you've purchased a car you either own it outright, or you are making payments to a lender. No matter the situation, you may have reasons for selling your car similar to those for wanting to get out of a lease. If this is your desire you have several options.

The first is to sell your car privately. This option is many times the one that yields the greatest financial return. You should note, however, that it also requires the utmost diligence on the part of the seller. Proper pricing and marketing of the car is completely up to you. The same also applies to the transferring of the title. If this is the route you decide to take, be sure to check the laws and procedures for selling a car in the state where you live.

Your next option in this situation is to trade the car in to a dealer as part of payment for a new vehicle, provided that your goal is to obtain another vehicle. While this will most likely be the easiest method for "selling" your car, there's a good chance it will not be very lucrative.

Trade-in values for any car are usually on the low side of its worth. At the same time, car dealers also like to mix the trade-in price into the negotiations for your new car. This procedure can make it difficult to figure out the actual amount of money you're getting for the vehicle. We recommend that you always negotiate the price of your trade-in separately from the negotiation for your purchase.

Another option for selling your car comes in the form a company known as CarMax. Operating in the manner of a car dealership, CarMax buys and sells used cars to the public. The main difference is that with both transactions there is no haggling over the price.

When you bring your car into a CarMax looking to sell it, the process starts with a complete vehicle inspection as well as a test drive performed by the company's buyers. At that point you are made an offer that is valid for seven days at any CarMax store, allowing you the opportunity to think it over while exploring other options. An added perk here is that CarMax guarantees to make an offer on your car even if you have no plans to purchase a car from them.

If you decide to sell your car to the company, bring your car along with the CarMax offer, any other paperwork concerning the vehicle, and all sets of keys into any CarMax dealer. They take care of the rest. If a payoff is involved, CarMax contacts the finance company and then issues a bank draft for the difference. If there is negative equity in the car you're selling, CarMax will accept a cashier's check or certified check from you and then pay off the lender.

Selling your car to CarMax may not bring you as big of a return as selling it privately, but when you consider the speed and ease of the transaction it quickly becomes a very good deal. By logging on to www.carmax.com you can find out more about the company and what they offer, as well as if they have a storefront near you.

Donating your car to charity
This has become a very popular practice within the last decade. Instead of selling your car for money you donate the vehicle to a charity in exchange for a deduction on your taxes. For older vehicles in need of repair, it can many times be a better option with much less hassle. It also has the potential to benefit those in need. The problem, however, is that all charities are not created equally. The following are some of the pitfalls as well as tips for staying clear of them.

1. Make sure the charity accepts vehicle donations directly
Many charities utilize companies that act as middlemen in the process. In these situations, the companies keep a percentage of the donation as payment for their role. Sometimes their cut is quite high, so do your homework before deciding on a charity.

2. Drive your car to the charity as opposed to having them pick it up
Hiring a service or a tow truck to claim the donation will cut into the amount of money your charity ultimately receives.

3. Make sure your charity has 501(c)(3) status
If your intended charity doesn't have this type of status, your donation will most likely not be tax deductible.

4. Understand how your deduction is valued
According to new tax laws meant to keep people from inflating the monetary amount of their contribution, your deduction is based on the price the car is sold for by the charity.

5. Sign over your car to the charity
If a charity asks you to not assign ownership you should go elsewhere. The problem is that if you do not transfer the title, the car is legally still yours. Think about the liability issue this presents.

6. Get a receipt after the car is sold
It's a worthy point that requires no explanation.

7. Consult your accountant first
You should initially consult your accountant for the purpose of determining if this is a good option for you. If you proceed with the donation he or she can also be of help regarding what to do if the charity decides to keep your car for its own use, or sells it at a discounted price. And don't forget: for any car that is sold for over $500 there is an extra form that needs to accompany your yearly taxes.

1:12 PM - Oct. 13, 2008 - comments {0} - post comment

Loan modification instead of foreclosure

The pathways to foreclosure are varied and numerous, especially in today's tougher economy. Increasing mortgage payments or mounting credit card debt, a sudden loss in income or employment, a serious illness, or a divorce or separation are all unexpected changes that can quickly lead to delinquency and even foreclosure.

And whether or not you personally are having trouble with your mortgage, it doesn't matter, because foreclosures affect everyone. After all, a single foreclosure in your neighborhood will often lower the value of every home – including yours – even if you've never missed a single payment.

The good news is that there is hope for you or anyone you know who might be on one of these unfortunate paths.

Lenders Really Don't Want to Foreclose
It's important to understand that lenders are not in the business of owning real estate, and would much rather help a struggling homeowner than to take possession of their home.

The numbers speak for themselves.

The average loss incurred by a mortgage company on a foreclosure is approximately 40%. In comparison, the average loss on a modification of the mortgage is approximately 20%.

With this in mind, let's say a $200,000 mortgage is facing foreclosure. A mortgage lender can expect a loss in the area of $80,000. Compare this to just the $40,000 loss it can expect by working something out with the homeowner. Multiply these numbers by hundreds or even thousands of delinquent loans, and it becomes clear why working with homeowners is in a mortgage lender's best interest – especially in today's challenging market where foreclosures are reaching record levels in some areas.

RealtyTrac®, a company that tracks foreclosure statistics, recently reported that bank–owned inventory hit the three–quarter million mark in July. Bank repossessions have increased 184% since last year at this time as default and auction notices continue to climb.

In the second quarter of this year, 1 in every 171 households nationally reportedly received a foreclosure filing. While the majority of the fallout is limited to states like Nevada, California, and Florida, states from the Midwest and Sun Belt have not been exempt. In fact, add in foreclosures from states like Michigan, Ohio, and Arizona, and the number of homes in foreclosure increases to as many as 1 in every 43 homes.

With staggering numbers like these, it's easy to understand why mortgage lenders are so willing to work with homeowners right now to save their homes through loan modifications. 

Why Should a Homeowner Try to Modify?
Just because someone missed his or her last three mortgage payments, triggering the foreclosure process, doesn't mean that it is necessarily time to start packing up and moving out. As we mentioned earlier, the reasons borrowers may miss a few payments are valid and often understandable. More importantly, not all of the unfortunate scenarios that lead to missed payments are permanent or irreversible. People can and do get back on track very quickly – and lenders know this and, now more than ever, are willing to help these homeowners avoid foreclosure.

According to Hope Now, a non–profit company helping distressed homeowners, mortgage servicing companies have successfully negotiated 522,000 workouts in the second quarter of 2008. In the month of June alone, approximately 76,000 of 105,000 homeowners received loan modifications. With so much on the line, homeowners in financial distress need to be proactive and make every attempt to help themselves.

Remember, with a foreclosure on your record, under most circumstances you will not be able to buy another home with a conforming mortgage for five years. Not to mention the lost opportunities of being a homeowner, which include increased wealth through home price appreciation and decreased income tax liability from deducting mortgage interest and property taxes.

If you or someone you know is facing financial challenges and can't pay the mortgage right now, don't just bury your head in the sand. The first thing you need to do is reach out to your mortgage company right away.

What Should You Do?
For a homeowner to be considered for a loan modification, the lender will want to know exactly where you stand financially and what you can afford.

The first thing to do is to find the courage to pick up the phone and call someone for help. Picking up the phone may not be easy, but if you want to avoid the financial ramifications of a foreclosure, you have to do it.

There are three calls you should make right away. The first call could be to the existing servicing company for the mortgage. The second option could be to a non–profit company like Hope Now. The third would be to contact a company that negotiates loan modifications. Either way, for direction on the best path to take, contacting an experienced mortgage professional is also a good idea.

Once you have made contact, let the company know that you would like to stay in the home. Assure them that you are committed to honoring your mortgage, but that you are in need of a little assistance right now to get back on your feet.

To enter into a modification agreement, the company will need to know, in writing, exactly what caused your sudden financial distress – so be prepared to tell your story in writing. This is also known as a "hardship letter," which will clearly explain the circumstances behind your missed payments and justify why you're in a good position to continue to make your modified payments in the future.

Be advised, investors or property flippers who were simply caught in a falling real estate market are not usually considered hardship cases. These homeowners may not find the same willingness to help that lenders will offer someone whose home in question is his or her primary residence. That means your chances are much better if you live in the home that you're trying to save.

Next, you will need to provide detailed financial information to help prove your case, so be prepared once you make that call to provide this information. Documents may include pay stubs, income tax returns, W–2s, liquid assets (bank and brokerage accounts), and current expenses (food, utilities, insurance, and other common expenses).

With this information, a lender may be willing to offer assistance in the form of a mortgage modification. This could include a reduction of your interest rate, a reduction of your principal, or even an extension of your existing mortgage. A combination of these options could also be in the mix, depending on your situation. Remember, the goal of a loan modification is to keep the homeowner in the home, so be open and up front and willing to help this process along in any way that you can.

Another Option for Struggling Homeowners
New legislation was put in place recently that could also assist homeowners whose mortgage balance is higher than the current value of the home – also known as being "upside down" or "under water." The bill is called the Homeowner Recovery Act of 2008, and it goes into effect October 1, 2008.

This law has provisions that will allow qualified homeowners to refinance their mortgage, with the mortgage company's approval, at 90% of the newly appraised value. There is one catch, though. To take advantage, the homeowner will have to share in future appreciation with the government. While some may be reluctant to do so, this could be an outstanding option for many homeowners who want to avoid foreclosure and keep their homes.

1:08 PM - Oct. 11, 2008 - comments {0} - post comment

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