Prepare Your Home For Open House by Appealing to the Five Senses

Writen by Julie Rieman

1. Out of sight, out of mind! Hide away anything you would not see in a “model”home. This is especially true regarding trash! Remember to empty all trash bins and remove them from sight. Keep in mind that potential buyers look at everything! A clean property equates a well maintained property that will get offers!

2. Never underestimate the sense of smell. It is important that your property passes the “smell test”. This may be accomplished by using many of the various room fresheners available today. I recommend a long lasting product and prefer the plug in style. Consider placing one in each room. Place in an inconspicuous area that is not easily noticed by potential buyers.

3. Do you hear what I hear? This is especially important in creating an atmosphere of peacefulness. You do not want potential buyers to hear the furnace turn on or listen to outdoor traffic. Consider playing music that will not offend most people. Rock and Roll is dead as far as your open house goes! We suggest playing soft background music that contains no lyrics.

4. Potential buyers will be touching surfaces in your property. Not intentionally, but because they have to! Be certain that all banisters, handrails, doorknobs and faucets sparkle! You do not want people to “feel” that your home is anything but squeaky clean!

5. I like to suggest leaving a decorative treat filled dish out for potential buyers. You can fill it with various individually wrapped candies. I know it sounds corny but EVERYONE loves chocolate and it will make potential buyers remember and feelgood about your property!

Having appealed to the five senses some other important tips…

CLEAN, CLEAN, CLEAN! This cannot be stressed enough and I mean EVERYTHING! Buyers will look inside your oven, refrigerator, microwave, dishwasher and everywhere else I might have forgotten to mention. Consider your open house a home inspection performed by an Army drill sergeant! Nothing will be overlooked!

Now if I have not completely terrified you, here is some more advice…

Check for cobwebs that seemingly come from nowhere.
Wash all light fixtures so they sparkle like new.
Clear any signs of clutter and hide away all personal items.
Consider shampooing the carpets for a fresh smelling clean look.
Organize and clear clutter from every closet and cabinet… Buyers ALWAYS look inside to determine storage space.
Wash windows inside and out. (Pay close attention to window sills and frames.) Buyers will typically inspect every window. Ouch!
Place fresh flowers close to the entrance door for a warm welcome.
Finally, go out for a nice meal and try to relax during your open house. You have earned it by following these suggestions!

Good Luck! Hope you sell your home quickly! Julie Rieman

Julie Rieman is an accomplished instructor in the arts of faux painting and interior redesign.. She offers two and four day classroom or online interior redesign training. If you live in the Twin Cities area, you can invite Julie into your home for a personalized consultation. For more information about any of her decorating services and training opportunities please visit http://www.allaboutredesign.com and http://www.allaboutwalls.net.

Property in Bulgaria An Enviable Investment

Writen by Surrinder Ahitan

Why the sudden focus and heightened interest on property in Bulgaria? We know the reasons why, and that’s because we’ve done extensive research on this former Communist country that is suddenly coming out of its shell - literally.

As restructuring continues at a frenetic pace in Bulgaria’s economic and political arenas, something wonderful is happening in the property market; investors from the UK, Greece, Scandinavia and other European nations are turning their heads to this part of this world which is yet largely unexplored. Keen buyers of property in Bulgaria are drawn to this beautiful enclave, which certainly has everything to offer.

Our own personal interest in Bulgaria took us there, and we learned about the pitfalls to avoid and the dividends that can be reaped with the proper moves. We’ve bottled and packaged that lengthy experience and diligent research for you. We’ll inform you and clarify any questions, and not push you into a corner and force you to buy, the way too eager real estate agents tend to do.Buying property in Bulgaria because of promising city centres like Sofia, Varna and Bourgas - not to forget Plovid - that throb with dynamic commercial potential? Or are you attracted by the still relatively low cost of property in Bulgaria, unlike some exorbitantly priced properties in Spain and Portugal? This is where Bulgaria comes to the rescue, cost wise.

Purchase and renovation costs are reasonable, where investors can expect investment yields on their Euros of as high as 7% 8%, depending on the region and the property.

Looking for value and natural beauty to accompany your investment? Take a tour of Bulgaria’s ski resorts - like Bansko, Borovets and Pamporovo and see why skiing enthusiasts have graced the country’s slopes in increasing numbers.

Golf development property is also in the pipeline, not to forget summer beach properties that are still up for grabs in Sunny Beach, Golden Sands and Nessebar.

And if you prefer history and go for village life, property in Bulgaria abound, because these pockets of land have not yet been fully exploited by investors.

Don’t be left out of the Bulgaria property fever. Take a closer look and see why one and two bedroom units in ski and beach areas and off plan properties offering 10% 15% discounts constitute attractive options for the investor.

Surrinder Ahitan’s website Bulgarian Property Advice.com provides detailed information and advice on the most lucrative areas to invest in Bulgaria. You will learn how to get around, get a flavor of the language, history, culture and more.

Real Estate Investing: Apartments How to Find a Good Property Manager

Writen by Patrick Leblanc

How do you find good property management? After all, you’ll pay if you don’t have a skillful, competent, honest property manager.

How do you find good candidates for property management? The secret is referrals, lots of them. I speak with a lot of property owners about the possibility of my company buying their property, regardless of whether they are interested in selling. I ask them who currently manages their property and whether they are happy with them.

I ask other property managers who manage other types of property - retail, for example if they know of a good multifamily property manager. I ask everyone else I come across in related businesses, including attorneys and insurance agents. I like to get several referrals to the same property manager.

Make sure your investment focus matches your property manager’s expertise. Don’t have a luxury class A property manager manage your working class C properties. Do your needs match the skills of the property manager? Do you need rehabilitation managed? Match the size of your properties with the size and capacity of your property manager. You don’t want to be your property manager’s smallest property. Calls get returned quickly when you are one of the largest customers.

Interview your property manager, inspect one of the properties the manager currently manages and ask to see a rent ready unit. Is their definition of rent ready the same as yours? I remember one prospective property manager stepping over some trash on the ground outside a managed property. They just didn’t care. Find out who their favorite contractors are for plumbing, electrical, roofing, etc. What are the reputations of those contractors?

Does the property manager know what’s going on in the rental market and how to react to it?

Make sure your contact and discussions set the groundwork for a constructive business relationship. Make sure you are clear about your property manager’s repairs expense limit. Make sure you are on the same page about handling non paying tenants and evictions.

Monitor and verify. What do your monthly financials look like? Is it clear what your expenses are? How quickly are vacant units being made ready? How quickly are they being rented? How does the property look compared with similar properties in the area? When something doesn’t go as planned, what corrective action is being taken? One definition of insanity is doing the same thing over and over and expecting different results. Is that what your property manager is doing to rent your vacant units?

In one market, I have a college student who takes pictures of potential property purchases. If I haven’t recently been by a property I own, I’ll have her go take pictures of it for me.

Patrick Leblanc is the president of Reflex Investors Inc. and has been investing in real estate since 1991. Reflex Investors buys multifamily properties by offering investors a fixed 10% return in private mortgage notes. Patrick can be reached at http://www.Reflex Investors.com and http://www.Solid Return.com

Be Cautious Of Those Offering Foreclosure Help

Writen by Martin Lukac

If you are facing a potential foreclosure, you are in a tough situation. But you aren’t alone. With interest rates on the rise and home appreciation on the slow down, many homeowners are having trouble hanging on to their homes.

And there are plenty of people banking on the desperation that this causes. You may have noticed advertisements popping up for help avoiding foreclosure. Are they legit?

First of all, no matter what your situation, you should always treat any offer of assistance with caution. Many cons use “helping” as a way to cheat struggling homeowners out of their equity. You could lose the money you have in your home and your home too.

Mortgage foreclosure rescues come in several forms. You may be loaned money by the rescuer in order to pay off the mortgage that is facing foreclosure. You will be asked to sign a loan agreement, but it isn’t what it seems. You are actually transferring all of your interest in the property to the rescuer. You are then evicted from the home.

Sometimes, the homeowner knows that he is signing over the title to the property. The rescuer pays off the property and the homeowner agrees to lease the home and continue to live there until he is back on his feet financially. But the lease payments will become larger than the mortgage payments. The victim falls behind and is evicted. If the victim doesn’t fall behind, the rescuer will set the price of the home so high that it cannot be repurchased.

Many homeowners believe that if they are foreclosed on, they loose everything. Even if you lose your home to the lender, you may still receive money for it. The lender will only take any unpaid mortgage and associated fees out of the sale price of the property. The rest is your equity and will be paid to you. If you sign over your property to someone else, they will receive the proceeds from the sale.

How do you recognize and avoid scams?

1. Ignore any signs or bulletin board notes that offer foreclosure help. If they are advertising on the windshield of your car, they probably aren’t legit.

2. Don’t give out any information to anyone who contacts you wanting to help. Cons frequently check the public foreclosure notices for potential targets. They are betting that you are desperate to find a way out of your situation.

3. Read every single document, front and back. If an offer is too good to be true, it probably is. If someone says that you won’t get a dime after your home is sold, don’t put your trust in them. There is often a good chance that you will. For a few hundred dollars, you should have an attorney accompany you to read through every document that you are expected to sign. Also, watch out for documents with blanks and empty spaces.

4. Check out any company you are considering turning to with the Better Business Bureau and the state Real Estate Commission. You might even want to contact the state attorney general’s office to see if there are any open investigations of the company or its owners.

Martin Lukac, represents http://www.RateEmpire.com, a finance web company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies! Visit http://www.RateEmpire.com today

A Look at the Real Estate Field

Writen by Morgan Hamilton

In today’s fast paced, breakneck speed world, many parents have found difficulty in coming up with a healthy work/life balance. The demands of the 9 to 5 job, along with seemingly increasing overtime requirements, don’t always take into account family responsibilities and demands that are shared by most parents. This has lead many parents to pursue more flexible employment, often attempting to run a business from their very own home, or pursue flexible work work that allows them to schedule their workload and commitments around the demands of of their spouse and children.

With the recent housing loan that is become clear that one field that has become ever more popular is real estate and many real estate offices are capitalizing on this trend and a big way by highlighting their career opportunities as a viable alternative to a traditional job. These options have awakened the interest of an untold number of parents who are now studying to become real estate agents in their respective communities.

Real estate companies are always on the lookout for new agents and they make their training programs as family friendly as possible. Often times the training is divided up into smaller units to make real estate agent training more affordable and accessible. Many offices are also allowing students to take their courses on the Internet, broadening their reach and the amount of trainees appeal to participate in the courses. It really is a simple matter of convenience and that is what is so attractive.

The real estate field is extremely competitive, but he even with this in mind, younger parents have a distinct advantage upon entering the occupation because they tend to be more technically oriented. When they get their real estate licenses, these technically savvy individuals are able to offer unique services and features with their listings, such as 360 degree virtual tours, multiple photo listings and general access to informative online resources. This technical know how, offers this younger generation a decided advantage over the more traditional real estate agents that we have grown accustomed to, who tend to limit themselves to typical advertising methods such as car and lawn signs, newspaper listings, Billboard and bus stop signs. This puts them at a decided disadvantage over their younger counterparts.

Of course, there are obstacles to hurdle for parents looking to become real estate agents. This sort of career can mandate rather artwork and unorthodox schedule and often demands the ability to meet with clients on short notice. Flexibility of the real estate business is huge. This can be a big problem if parents do not have reliable and flexible childcare arrangements in place. Having a reliable vehicle is also absolutely mandatory. If you can’t meet with your clients and show them the property that they are interested in them it’s game over for your real estate career.

The world of real estate can be extremely competitive. It can be a dog eat dog profession and some people that are new to the profession may have a hard time dealing with the underhanded practices by other agents and the necessity of being at the beck and call of difficult clients. However, with proper planning, the use of appropriate tools and with a burning desire to succeed, parents can definitely be successful as real estate professionals, without sacrificing a healthy work life balance in the meantime. It can be done. Real estate agents prove it each and every day.

Morgan Hamilton offers his findings and insights regarding the world of real estate. You can get interesting and informative information by visiting Real Estate Field

The Real Estate Jungle: Making an Educated Decision

Writen by David McGuire

When most Americans shop, the first question we ask is, “how much” and then we look at the price tag. Is this right or wrong?

The answer: it could be either, but more often than not it is the wrong approach.

Those fortunate Americans who are financially secure tend to seek quality with little regard for the price tag. Is this right or wrong?

The answer: again it could be either, but more often than not it, too, is the wrong approach.

What every educated consumer should hunger for is VALUE. Value is that delicate balance point between price and quality, that relative worth, that fair return on investment! And, folks, the higher the ticket item the more important value becomes.

If you pay too much for a pair of poor quality shoes, your world doesn’t come crashing down. But, if you are purchasing a high priced product or service and your exposure is thousands of dollar$, your decision making process must be more educated, more thorough, and, above all else, logical.

So, if we are selling or buying a home, how do we choose the correct real estate company and the correct real estate agent for our needs? How do we determine what we need and get the best value. After all, this is probably the biggest sale or the biggest purchase we are ever going to make. The size of the dollar$ involved makes it imperative that we get the very best value we can out there in the real estate jungle.

Here are points to consider and questions to ask yourself BEFORE you make your final decision.

Point: There are three main categories of real estate companies.

The first is the deep discount, limited service operation that offers do it yourself pricing on various levels. If you possess the skills to make your own appointments, show your own home, financially qualify potential buyers, handle the negotiations and do the contracts and paperwork throughout the process, this might be the type of company you need and you can save money.

The second is the full service, full commission broker. This company handles everything in return for 6% commission. Very easy, very expensive.

The third is the full service, discounted commission company that handles everything and typically charges 4% 5% for their professional services. Very easy with substantial savings over the expensive 6% broker.

Question: What are my needs and which of these companies would best serve my needs?

Point: All real estate agents are licensed and are equal in the eyes of their licensing commission.

But, that does not translate into equality in the “real” real estate world. Few real estate agents have acquired the necessary skills to work with people correctly on a major sale or purchase like a house. Experience or “time in grade” does not insure competence. An acquired skill set does.

Fewer agents have relevant business expertise. Let’s be perfectly clear. This is a major business transaction involving thousands of your dollars.

Here’s a fact. A complete understanding of the business aspects of the process will have a very positive impact on your profit if you are selling or on your savings if you are buying.

Question: Do I select a friend of mine in real estate, the first person I contact, or an agent with business expertise and a skill set that insures competence?

Now it’s time to talk about value again. The best value for most people would be a full service company that discounts its services and is staffed with agents who have business expertise and the requisite skills to maximize your profits or savings. All I have done was outline a logical thought process, in effect showing you that it is really not a jungle out there.

Which shoes fits you best? First decide, then buy, but make sure you’re getting the value you need.

David McGuire is a Dallas real estate agent and a contributor to the Flower Mound Homes Weblog.

If You Can’t Afford to Retire…Move

Writen by Barbara Kimmel

According to Warren Bland, PhD, an award winning author and geographer at Cal State, people have a great option. It’s called “equity take” that is, the difference in cost of comparable housing between your present community and the more affordable one to which you could move. So, if you are willing to make that move, you can pocket a good chunk of money instead of delaying your retirement.

Consider the person hailing from Buffalo, NY, where the average upper middle class home sells for around $250,000. In Thomasville, Georgia, one of the most desirable retirement places in the Atlantic Southeast, many attractive single family residences in beautiful neighborhoods are selling for around $140,000. This means that you could net about $100,000 (assuming your mortgage is paid off) by relocating from snowy Buffalo to sunny southern Georgia, and increase your annual net income by $5,000 by investing in, for example, tax free municipal bonds at 5 % annual interest.

People living in expensive metropolitan areas like New York, Los Angeles, the San Francisco Bay Area, Boston, Chicago and Toronto are in an even better position to use “equity take” to their advantage. The average price of upper middle class housing exceeds $1million in Manhattan, $700,000 in Los Angeles and the SF Bay Area, and is around $500,000 in Boston and Toronto. In contrast, home prices in many highly desirable cities and towns, suitable for retirement and located in all parts of the country, are more likely to be in the $150,000 to $300,000 range. Even a relocation from Manhattan to Boca Raton, Florida (one of Bland’s “top ten” retirement picks), could leave you with an equity take of $500,000. Investing that windfall in tax free municipal bonds at 5 % annual interest, will increase your annual income by $25,000. As Bland says, “You can buy a lot of wine, gourmet food and entertainment with that kind of money”!

Barbara Kimmel is an award winning book publisher, publishing consultant and publicist. She is the publisher of Warren Bland’s book, Retire in Style 60 Outstanding Places Across the USA and Canada. Books are available through all major bookstores, amazon.com or http://www.nextdecade.com

8 Essential Questions to Ask Your Home Inspector

Writen by Wallace Conway

Congratulations! You’ve decided to purchase a home. We all know that when purchasing a home, every detail is an important one. And choosing a home inspector is no exception. It’s critical to choose an inspector the same way you’ve chosen a real estate professional very carefully! You’ll get a great educational experience when you hire a professional with the right credentials.

Working with a home inspector isn’t complicated; however, unless armed with the right questions to ask, you may get stuck with a less than capable individual. Here are my top 8 questions to ask your next home inspector:

1. Does the inspector come from a construction background?
   It’s great that your inspector is a nice person, but what did they do before inspecting homes? Do they bring a wealth of knowledge about the construction trades, building, or remodeling? Or were they a hairdresser in a previous life? Don’t get me wrong, I’m not picking on hairdressers but that occupation certainly doesn’t have anything to do with inspecting a house!
2. Does the inspector hold the appropriate license and meet all requirements for home inspectors in your area or state, and where can you go to verify this license?
   This question may not be applicable in all states there are states without licensing requirements for home inspectors. But if your state has some kind of requirements, you need to know what they are, and where you can go to verify that your chosen inspector has done what it takes to be state compliant. Verification is essential, because many states have the capability to track continuing education of the inspector as well as complaints.
3. Is the inspector a member of the American Society of Home Inspectors (ASHI)?
   This is critical! ASHI is the oldest, largest, and most respected organization for home inspectors in the country. They also maintain the highest standards and ethics for home inspectors. If your inspector is a member of this organization, you can be sure that they have passed The National Home Inspectors Exam, and they have completed all training and administrative requirements for membership. You can even verify membership status at www.ASHI.org. The inspector may be a member of other organizations, but none have requirements as strict as ASHI. And don’t be fooled by those companies who claim to inspect to “ASHI standards” if they aren’t a bonifide ASHI member, find another inspector.
4. How long has the inspector been in the inspection business, and how many inspections has he performed during this time?
   Longevity gives comfort that the inspector will be with you in the future as new needs and issues arise. But if he’s only done 12 inspections during his several years in business, that’s not good! Your home buying decision is far too important to be a practice place for a part time inspector.
5. Does your inspector have experience in homes similar to the home you are having inspected?
   All homes have some systems and features in common, but a brand new home has risks and issues that differ from an historic beauty from the year 1855. Only someone who has walked the walk and crawled the crawl numerous times in similar homes can sleuth out those important items that are specific to your age, size, and type of home.
6. Will your inspector walk on the roof, crawl in the crawlspace, go into the basement, and climb into the attic space (if any of these are applicable)?
   Your inspector should be capable of going and willing to go into those places where others fear to tread! These are the places that must be seen to best protect the customer. There a times when those locations cannot be completely inspected due to physical risk to the inspector, risk to the equipment, or seasonal limitations. But for the inspector to not inspect those locations because he doesn’t want to, is scared of the dark, or is too ample to fit into those spaces is unacceptable.
7. Does the completed report include photographs?
   Often, the report will contain descriptions of damage or defect in locations of the home that only the inspector was able to access, like roof tops or crawl spaces. You will want pictures of these areas to make your understanding of the scope and location of the damage clear. It also makes repairs simpler to get estimated when a photograph is available.
8. When will the completed report be delivered, and can it be emailed?
   Often the buying decision is time critical, you want to be sure you will receive your completed report in time to read, review, and respond. The best companies can deliver the report to you on site, right at the home, just as the inspection is completed.

Finally, be sure to attend the home inspection. There is no substitute for the complete inspection experience; the report generated is only a small piece of the inspection. When you attend the inspection, see the process, ask questions, and become educated about your home, you’ll gain great comfort and confidence in your buying decision. Good luck, and happy home buying!

Wally Conway is President of Florida HomePro Inspections, and has recently written a book entitled “Secrets of the Happy Home Inspector”, available at GoHomePro.com or Amazon.com. Wally’s expertise and experience has been sought after by HGTV’s “House Detective”, the Florida Times Union, and many real estate boards and associations. As a speaker, writer, instructor, and host of The Happy Home Inspector radio show every Saturday at 3 PM on WOKV 690, Wally blends the right amount of up to date information with just the right amount of humor, insight, motivation, and real world application. Visit http://www.WallyConway.com for more information!

Escrow Accounts Are You Paying Too Much?

Writen by Yuri Szilasi

Money in escrow is “dead money”. It doesn’t earn interest for you and it doesn’t reduce your mortgage interest payments. Therefore every cent in your escrow account is costing you money. Make sure there is no more tied up in escrow than there needs to be!

Here is a brief summary of what lenders can and cannot do regarding escrow. I’ll also explain how to check your own escrow account to make sure you are not paying too much.

State laws vary; you should consult your own attorney to determine what your local laws allow.

The way lenders handle escrow is regulated by the Federal Real Estate Settlement Procedures Act, which applies to all “federally related mortgage loans”.

Unless local law says otherwise, at settlement the lender can require a borrower to deposit funds in an escrow account set up for the payment of taxes or insurance premiums. The sum deposited cannot exceed the actual amount of the taxes and premiums, plus one sixth of their estimated total.

If the taxes come due in January and you are settling in July, your first month’s payment will be due Sept. 1. For September, October, November and December, you will make four months’ escrow payments. Since the lender will require a full year’s payment in January, and at that time only four months’ payments will be in escrow, the lender can escrow eight months at settlement, plus one sixth of the total amount, which amounts to an additional two months’ worth of escrow.

Thus, at settlement, do not be surprised if the lender requires you to pay 10 months’ tax payments into escrow. These funds are held by the lender and paid when the taxes come due.

The rules apply until you pay off your loan. In other words, the lender can hold two additional months’ escrow, so that if you are delinquent in one or two monthly payments, the lender will still have sufficient funds.

At least once a year, the lender that services your loan must send you a statement clearly itemizing “the amount of the borrower’s current monthly payment, the portion of the monthly payment being placed in the escrow account, the total amount paid into the escrow account during the period, the total amount paid out of the escrow account during the period for taxes, insurance premiums . . . (as separately identified) and the balance in the escrow account at the conclusion of the period.”

When you receive this statement, you should review it carefully. Confirm with your taxing authority and your insurance company exactly when the payment is due and the amount of the payment. Use a calculator to determine whether the lender has properly calculated the amount of the escrow. Congressional testimony has uncovered many errors made by mortgage lenders.

There are also many cases in which lenders fail to pay the real estate tax on time or at all. Often, the first time that homeowners learn of this non payment is when they receive a notice of tax sale from the jurisdiction where their property is located.

If you are required to escrow for taxes and insurance it is a very good idea to write to your lender annually, demanding proof of payment of the real estate taxes and insurance premiums. If the lender does not respond promptly, contact your taxing authority to confirm payment of the taxes, and complain about the lack of response to your state or local financial regulatory authority.

Home owners who have 20% or more equity in their property that is, if they borrow or refinance 80% or less than the value of the property have the right to receive a notice from the lender that they may pay their own taxes and insurance without escrow. This is a wise thing to do as your money is better off working for you than sitting in a non interest bearing escrow account. This is of course providing that you have the financial discipline to have the funds available when it comes time to pay your taxes and insurance!

WARNING: Some lenders try to increase the mortgage rate when the borrower opts to avoid escrow. You should talk to your attorney who will likely advise you it is illegal for the lender to do this. Again, MAKE THE EFFORT. It can be worth a great deal of money to you in the long term.

Unfortunately, escrow for taxes is a way of life in the mortgage industry. However, as a borrower, you have the right to review and analyze and complain if you find that your escrowed funds are not being handled properly. After all, this money belongs to you until it is paid to the taxing authority or the insurance company.

You can easily check your own escrow account.

To determine whether your escrow account balance is excessive, divide all annual expenses paid out of that account by 12.

For example, if your annual expenses are $1,200, the lender would need $100 a month for payments.

If your monthly escrow payment is significantly higher than $100, the lender may be overcharging. Some lenders establish separate escrow accounts for each item to be paid, rather than making all payments out of the same fund. But regardless of the method used, at some point in the year, there should be no more than two times the monthly payment in the account (in the above example there should be no more than $200 in the account for at least one month of the year), or a smaller amount if the mortgage contract specifies one.

Should you find that you are being excessively charged you need to contact your lender for a satisfactory explanation because THIS IS COSTING YOU MONEY.

$500 in your escrow account is $500 that is not coming off your mortgage. You are paying interest on this which over the years can compound out to significant amounts of money. In fact over a 30 year loan at 8% this $500 will have cost you $5,431.92 in additional interest. Is that worth fighting for?

I encourage you to make the small effort required to monitor your accounts. It’s so easy to be complacent and assume that all is as it should be. TAKE RESPONSIBILITY for your finances. When it comes to your money, you are the only person you can really trust.

For more information on bank overcharging visit me at www.BankSentinel.com

Yuri Szilasi is the owner of http://www.BankSentinel.com a site dedicated to recouping mortgage overcharges from lenders. Mortgage overcharges are endemic worldwide and cost Americans alone over $8 Billion each year.

What Every Home Buyer and Seller Should Know about Mold

Writen by Mark Nash

The aftermath of Hurricane Katrina brought mold into the forefront in media depictions of the interior of devastated homes covered from floor to ceiling with mold. Depending on where you live in the United States, mold will have varying degrees of impact if you are buying or selling a home. Add mold to your list of potential hazards in a home you’re considering purchasing or selling, but don’t overlook asbestos, lead and radon as other hazards in your quest to determine if mold poses a problem.

Mark Nash author of 1001 Tips for Buying and Selling a Home offers tips on what buyers and sellers should know about mold in residential properties.

Health problems from indoor mold produce allergens. Allergic responses include hay fever type symptoms such as red eyes, runny nose, sneezing and skin rashes. Some molds can also irritate eyes, lungs, nose,skin and throats of both allergic and usually non allergic people.

Mold spores can be spread by heating, ventilation and air conditioning systems (HVAC). Do not run your HVAC system if you suspect that mold spores have entered it or mold is growing on intake or out take vents.

Mold created by sewage requires professional attention. If raw sewage was in the water that created mold in a dwelling you should contact a professional who specializes in sewage based mold clean up.

What to wear when cleaning up mold. You should wear an N 95 respirator available online or at home centers. Wear long disposable gloves that can hold up when using chemicals like chlorine bleach. Wear goggles to protect your eyes from both chemical irritants and mold spores, select styles without ventilation holes.

How to prevent mold occurrences. Keep air conditioning and refrigerator drip pans clear of standing water or condensation. Monitor water lines in furnace humidifiers and refrigerators. Vent appliances and exhaust fans that produce moisture to the outside. Do not vent bathrooms fans to attic or crawl spaces. Open windows in non vented rooms that have excessive moisture build up, even in winter months. Check water supply’s for leaks to sinks and toilets and any other appliances that use water, including the hot water heater. Insulate pipes to reduce condensation. Clean and dry bathtubs and areas with poor air circulation, wear condensation or water accumulates.

Don’t overlook hidden mold sources. After removing known mold sources in kitchens and bathrooms, mold can hide behind paneling and wallpaper, ceiling tiles and in and under carpeting. Mold is commonly found on the rear of drywall even after the room side has been cleaned properly. Plan on discarding drywall, carpeting and ceiling tiles that have had visible mold.

Online resources:
Environmental Protection Agency:
Mold Resources: www.epa.gov/iaq/molds/moldresources.html
What to Wear When Cleaning Moldy Areas:
www.epa.gov/iaq/molds/whattowear.html
Hidden Mold: www.epa.gov/iaq/molds/hiddenmold.html

Mark Nash’s fourth real estate book, “1001 Tips for Buying and Selling a Home” (2005), and working as a real estate broker in Chicago are the foundation for his consumer centric real estate perspective which has been featured on ABC TV, CBS The Early Show, Bloomberg TV, CNN TV, Chicago Sun Times & Tribune, Fidelity Investor’s Weekly, Dow Jones Market Watch, MSNBC.com, The New York Times, Realty Times, Universal Press Syndicate and USA Today.