If you aim to tighten your belt this year to save more or pay off debt, you need to figure out where to find extra bucks. The money mavens at Kiplinger.com suggest doing it by plugging up the leaks in your spending.

Start by eliminating wasteful spending habits like these:

• Paying for stuff you don’t use – Whether it’s Netflix, premium cable channels, or an unused gym membership, everyone spends money on stuff they thought they needed. Run such expenses by the family and determine where you can cut.
• Buying brand name only – The difference between major brand groceries and generic, or store labeled, can be dramatic. In many cases, you can save big each week and barely notice a difference in quality.
• Using coupons for the sake of them – Don’t use a cents-off coupon unless you really need the item. Generic brands are probably cheaper, anyway.
• Buying insurance you don’t need – Your auto insurance policy covers a rental car. Regular term life is cheaper than mortgage life. If you have no dependents, how much life insurance do you need?
• Overspending on gas – Stick to regular gas if your owner’s manual recommends it. Premium won’t improve mileage. But correct tire pressure will, so check it regularly – and change the oil as recommended.
• Leaving money in a low interest account – If you’re getting next to nothing from your traditional savings account, search for highest yields on CDs and money market accounts. Consider online savings.
• Not pulling the plug on electronics – Most households waste up to $100 year to power devices while unused or on standby mode. Pull the plug whenever you can.
• Not reading the fine print – Moving a credit balance to a lower interest card can cost you if the transfer fee is high. Know which ATMs you can use free of charge, and be sure your bank isn’t charging you for services like banking with a teller.
• Mismanaging your Flexible Spending Account – Contributions to an FSA come out of your paycheck before taxes — so you don’t have to pay taxes on that portion of your income. Then you can use the money tax-free to pay for health care deductibles, co-payments, dental work and child care.
• Staying with the same providers – It’s the path of least resistance. But it pays to comparison shop every few months for better deals on insurance, cable, smartphone and more.

RIS Media

Ruth Schoenherr of Innovative Mortgage, Clearwater, is a mortgage broker who will help you find homes loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, Tampa, St. Petersburg area.  For more information, go to her web site at www.clearwatermortgagebroker.net.

When it comes to safeguarding your personal information, diligence is key. As credit card fraud continues to become more commonplace, consumers need to be cognizant when it comes to credit card use as well as whose hands their information is ending up in.

The following precautions, from MasterCard, will help you keep your credit cards secure and prevent fraud.

-Be skeptical of unsolicited phone calls, email, text messages, or social media messages if they request credit card data or personal information such as passwords, date of birth, social security number, etc.
-Examine links contained within emails or on any email attachments sent by an unknown or un-validated source no matter how harmless or familiar the title appears. If you really want to be safe, delete the message unless you are able to confirm the sender is legitimate.
-If you followed an email link to a website (or a text message to a voice recording system) and provided card data that later seemed suspicious, contact your credit card issuer immediately so your account can be protected.
-Guard against compromise by ensuring your home computer(s) have up-to-date anti-malware, anti-spam and firewall software installed.
-Keep track of your credit cards and be sure to regularly review statements for unknown purchases/cash advances. If you see any unusual transactions, contact your issuer right away.
-Do not share your credit card and PIN details via email or text message.
-The vast majority of merchant websites are reputable, however, leave a suspicious site immediately if you suspect it is not what it claims to be.

Source: MasterCard Canada/RISMedia

Ruth Schoenherr of Innovative Mortgage, Clearwater, is a mortgage broker who will help you find homes loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, Tampa, St. Petersburg area.  For more information, go to her web site at www.clearwatermortgagebroker.net.

New Home Sales Surge in October

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By Andrew Khouri

(MCT)—New home sales shot up in October, evidence that buyers nationwide may be absorbing higher mortgage interest rates.

Sales of newly built single-family houses rose 25.4% from September to a seasonally adjusted annual rate of 444,000, the Commerce Department said Wednesday. The sharp rise comes after new home sales fell 6.6% in September.

Compared with October 2012, sales are up 21.6%.New homes in October sold for a median price of $245,800 nationally. Sales rose in all regions. The West saw the smallest rise as buyers purchased 15.2% more new houses than a month earlier.

The pause and decline in the third quarter appears to be a reaction to rising interest rates and the rising uncertainty around government debt and deficit resolution that led to the shutdown in early October. As rates fell back and the shutdown ended, consumers returned to the market. Even with the large variances, the 25.4% change is enough to be considered an increase at the 90% confidence level.

The inventory of new homes for sale dropped back to 183,000 as builders’ inventories suffered from relatively slow building trends in the last several months. Because of the uptick in the sales rate, the months’ supply dipped to 4.9 months, the lowest since the second quarter. Economists generally consider a supply of six months to be healthy.

The inventory of completed homes is particularly low at 42,000, up slightly from the third quarter and back to levels last seen in the first and second quarter. The completed inventory is important to many potential home buyers who waited to be certain that their existing home sold and hence need a home ready for occupancy.

Home prices dipped 0.6% from a year ago (the data is not seasonally adjusted) and that appears to be a result of a rise in sales in the$150,000 to $199,999 range and a fall in sales $300,000 to $399,000 range. Sales were up the most in the Midwest and South, also contributing to the explanation that the virtually no change in prices is driven by composition of sales rather than base home prices.

NAHB expects this sales level to sustain itself through the end of the year as pent up demand continues to feed the market, as interest rates remain low by historic standards and as the supply of existing homes for sale remains low.

Sources: MCT and NAHB Eye on Housing blog

©2013 the Los Angeles Times
Distributed by MCT Information Services

RISMedia

Ruth Schoenherr of Innovative Mortgage, Clearwater, is a mortgage broker who will help you find homes loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, Tampa, St. Petersburg area.  For more information, go to her web site at www.clearwatermortgagebroker.net.

Real Estate Q3 Outlook Survey: Men and Women View Homeownership through Different Lenses

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Prudential Real Estate recently released results of its third quarter Consumer Outlook Survey indicating men and women don’t necessarily see eye to eye when it comes to homeownership and the responsibilities related to home-buying and selling.

Men claim to be more responsible for financial aspects while women assume the lead for neighborhood research and planning portions of the process. While 39 percent of men in partnerships claim researching banks and securing a mortgage are completely their responsibility, 42 percent of women in partnerships indicated it is their sole responsibility to manage appointments and 34 percent take the lead in researching neighborhoods.

Women also seem to enjoy the process of purchasing a home more so than men. A full 87 percent of women said they enjoy looking at homes compared with 77 percent of men. Moreover, feelings associated with homeownership are more pronounced in women than in men. When asked about the reasons why homeownership is “very important,” more women associated it with a sense of pride or accomplishment (16 percent higher than men) and independence (11 percent higher). For men, “control over living space” and “more space for my family” were most important.

“As the real estate market strengthens and household formation grows, men and women approach the buying-selling process from different angles,” said Earl Lee, chief executive officer of HSF Affiliates LLC and president of Prudential Real Estate. “What’s most interesting is the dynamic that exists among couples and the role that agents play in balancing couple’s real estate objectives.”

A gap seems to exist between men and women about the perception of shared responsibilities involved in purchasing and selling homes.

• 71 percent of females say that making the down payment is a shared responsibility compared with 56 percent of males.
• 53 percent of males are more likely to say researching schools is a shared responsibility compared with 42 percent of females.
• 65 percent of females say collecting and evaluating assets and/or financials is a shared responsibility whereas only 54 percent of males say the same.
• 63 percent of men say keeping the house in order for a potential buyer is a shared responsibility compared with 47 percent of women

The sexes stand in agreement on the “most important home features,” ranking “safe neighborhood,” “overall condition of the home” and “number of bedrooms” ahead of others.

Still, the varying points of view between men and women place agents in the middle, serving as the local-market expert and often the voice of reason. Of those surveyed and in a partnership, 83 percent said their last real estate agent was helpful in forming an agreement with their partner and 86 percent value the agent’s point of view as much as or more than their partner’s.

Carl Medford, an agent with Prudential California Realty’s Castro Valley office, said real estate consumers are usually eager and anxious at the same time, which can result in disagreement among couples. “When my clients don’t see eye to eye on a particular property or home features I wait for the appropriate moment and say, ‘I also provide marriage counseling,’” said Medford with a laugh. “If there’s friction I’ll say let’s go get a coffee and sort this out. Simply acknowledging the tension usually helps.”

Medford wasn’t kidding when he mentioned marriage counseling. As a former senior pastor of a large Bay Area church for 24 years, he helped counsel people working through all sorts of challenges and opportunities. “Buying and selling real estate can be so rewarding, yet people need to realize that the process can be stressful. My message is take a step back, take a deep breath and let’s work through the process together.”

Both women and men cited “honest” and “knowledgeable” as the most important qualities in a real estate agent, and 92 percent of respondents said their agent was helpful in the real estate process.

Confidence Remains in the Marketplace
Consumers remain confident in the recovering real estate market, according to the survey. Their favorability perception of residential real estate at 73 percent rose to the highest level since the survey began in 2011.

Homeownership continues as a priority to nearly all survey respondents, as 96 percent described it as “very important” or “somewhat important.”

“People believe in real estate and want to take advantage of the housing opportunities out there,” said Stephen Phillips, chief operating officer at HSF Affiliates LLC. “A home is a solid, long-term investment on which you can live and build your dreams.”

For more information, visit www.prudentialrealestate.com.

RISMedia

Ruth Schoenherr of Innovative Mortgage, Clearwater, is a mortgage broker who will help you find homes loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, Tampa, St. Petersburg area.  For more information, go to her web site at www.clearwatermortgagebroker.net.

Rising Rates, Health Care Lead Top 10 Issues Affecting Real Estate

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Rising interest and capitalization rates top the list of issues that have future implications for real estate. That’s according to an industry expert at the “Top 10 Issues Affecting Real Estate” session held recently at the 2013 REALTORS® Conference and Expo.

Scott Muldavin, industry veteran and president of The Muldavin Company Inc., a consulting firm in San Rafael, Calif., that serves the real estate industry, shared his insights into top issues that could potentially impact homeowners, real estate markets and the industry in the coming years.

He said the top issue affecting real estate is that historically low interest rates have driven the economy and real estate markets in recent years, but as rates start to rise, it could raise capitalization rates, the ratio between the income produced by an asset and its cost, which could create anxiety about investing in real estate. “Interest rates are going to rise significantly, so my advice is to be careful about your investments today and lock in those low rates if you can,” said Muldavin.

He said that healthcare is also an important issue that has implications for real estate. As the population ages, there will be greater demand for senior housing, requiring a change in the configuration and size of available housing, and for greater medical care, resulting in an expansion in medical facilities.

Muldavin said there’s been a capital market resurgence, which is good news for residential and commercial real estate. In commercial markets, transaction volume is up, credit is available, underwriting has loosened and a full range of debt options is back. For residential markets, underwriting remains tougher but rates are near historic lows and affordability remains high.

Future housing demand from echo boomers, the 80 million Americans born between 1982 and 1995, will also impact real estate markets, he said. “We are the only developed country that has had an echo boom and that’s a positive thing if the country can react and respond to it,” said Muldavin.

Echo boomers often prefer a more flexible and active urban lifestyle, they rely heavily on mass transit, and are often willing to trade home size for location. However, Muldavin said that the suburbs are fighting back with better mass transit, new bike paths, and repurposed properties to attract more future buyers.

Source: RISMedia

Ruth Schoenherr of Innovative Mortgage, Clearwater, is a mortgage broker who will help you find homes loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, Tampa, St. Petersburg area.  For more information, go to her web site at www.clearwatermortgagebroker.net.

Moving can be an overwhelming experience even when it goes smoothly. Unfortunately, it can also create opportunities for enterprising criminals. Make sure to protect your identity amidst the shuffle by following these smart steps:

1. Change your address with all the companies, financial institutions, magazines, and other organizations that regularly send you mail. Identity theft is often carried out by stealing mail. The people who move into your old residence won’t necessarily steal your identity, but they will most likely throw mail that isn’t theirs, and they won’t necessarily take the care to shred it as you would. Prior to your move, change your mailing address through the United States Postal Service. You can even choose the date you want the change to take effect, so feel free to do this task early and cross it off your list.

2. Shed and shred. Moving creates a good opportunity to get rid of things you no longer need, including old documents. But don’t just throw them away; shred sensitive personal documents you don’t need to keep.

3. Keep physical tabs on your identity. Regardless of whether you move yourself or use a moving company, keep your important documents with you in a secured place. When it comes to your identity, a filing cabinet in a trailer isn’t secure enough.

4. Always keep the security of your identity in mind. Hire only a reputable moving company. After all, you are inviting them into your home. And, if your movers are going to pack your belongings for you, secure your important documents prior to their arrival.

5. Manage your technology inventory closely. Many households now include multiple computers, mobile phones, tablets, and other devices storing sensitive information. It would be easy for one to be inadvertently misplaced, or purposely stolen. Make sure your devices are securely packed in unmarked packaging, and that they are locked with strong passwords.

Taking these small steps before and after a big move will not only give you piece of mind, it will help go a long way to ensuring the safety of you and your family in the long run.

Source: Experian’s ProtectMyID/RISMedia

Ruth Schoenherr of Innovative Mortgage, Clearwater, is a mortgage broker who will help you find homes loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, Tampa, St. Petersburg area.  For more information, go to her web site at www.clearwatermortgagebroker.net.

Prudential Real Estate recently released results of its third quarter Consumer Outlook Survey indicating men and women don’t necessarily see eye to eye when it comes to homeownership and the responsibilities related to home-buying and selling.

Men claim to be more responsible for financial aspects while women assume the lead for neighborhood research and planning portions of the process. While 39 percent of men in partnerships claim researching banks and securing a mortgage are completely their responsibility, 42 percent of women in partnerships indicated it is their sole responsibility to manage appointments and 34 percent take the lead in researching neighborhoods.

Women also seem to enjoy the process of purchasing a home more so than men. A full 87 percent of women said they enjoy looking at homes compared with 77 percent of men. Moreover, feelings associated with homeownership are more pronounced in women than in men. When asked about the reasons why homeownership is “very important,” more women associated it with a sense of pride or accomplishment (16 percent higher than men) and independence (11 percent higher). For men, “control over living space” and “more space for my family” were most important.

“As the real estate market strengthens and household formation grows, men and women approach the buying-selling process from different angles,” said Earl Lee, chief executive officer of HSF Affiliates LLC and president of Prudential Real Estate. “What’s most interesting is the dynamic that exists among couples and the role that agents play in balancing couple’s real estate objectives.”

A gap seems to exist between men and women about the perception of shared responsibilities involved in purchasing and selling homes.

• 71 percent of females say that making the down payment is a shared responsibility compared with 56 percent of males.
• 53 percent of males are more likely to say researching schools is a shared responsibility compared with 42 percent of females.
• 65 percent of females say collecting and evaluating assets and/or financials is a shared responsibility whereas only 54 percent of males say the same.
• 63 percent of men say keeping the house in order for a potential buyer is a shared responsibility compared with 47 percent of women

The sexes stand in agreement on the “most important home features,” ranking “safe neighborhood,” “overall condition of the home” and “number of bedrooms” ahead of others.

Still, the varying points of view between men and women place agents in the middle, serving as the local-market expert and often the voice of reason. Of those surveyed and in a partnership, 83 percent said their last real estate agent was helpful in forming an agreement with their partner and 86 percent value the agent’s point of view as much as or more than their partner’s.

Carl Medford, an agent with Prudential California Realty’s Castro Valley office, said real estate consumers are usually eager and anxious at the same time, which can result in disagreement among couples. “When my clients don’t see eye to eye on a particular property or home features I wait for the appropriate moment and say, ‘I also provide marriage counseling,’” said Medford with a laugh. “If there’s friction I’ll say let’s go get a coffee and sort this out. Simply acknowledging the tension usually helps.”

Medford wasn’t kidding when he mentioned marriage counseling. As a former senior pastor of a large Bay Area church for 24 years, he helped counsel people working through all sorts of challenges and opportunities. “Buying and selling real estate can be so rewarding, yet people need to realize that the process can be stressful. My message is take a step back, take a deep breath and let’s work through the process together.”

Both women and men cited “honest” and “knowledgeable” as the most important qualities in a real estate agent, and 92 percent of respondents said their agent was helpful in the real estate process.

Confidence Remains in the Marketplace
Consumers remain confident in the recovering real estate market, according to the survey. Their favorability perception of residential real estate at 73 percent rose to the highest level since the survey began in 2011.

Homeownership continues as a priority to nearly all survey respondents, as 96 percent described it as “very important” or “somewhat important.”

“People believe in real estate and want to take advantage of the housing opportunities out there,” said Stephen Phillips, chief operating officer at HSF Affiliates LLC. “A home is a solid, long-term investment on which you can live and build your dreams.”

For more information, visit www.prudentialrealestate.com.

RISMedia Nov 5, 2013

Ruth Schoenherr of Innovative Mortgage, Clearwater, is a mortgage broker who will help you find homes loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, Tampa, St. Petersburg area.  For more information, go to her web site at www.clearwatermortgagebroker.net.

Interested in more details on this topic? Click here!

Closing on your home is a huge step in the home-buying process. It’s when you officially get the title for your new house. It’s important to keep in mind that there are several costs when closing a home sale.

On closing day, you’ll be expected to pay all of the costs and fees associated with this process. The overall amount shouldn’t come as a surprise to you though, since your lender is required to give you a Good Faith Estimate (GFE) that contains the estimated amount of the closing costs. These costs include the following:

• Lender fees: These cover the cost of processing your home loan, the points, or percentage of the loan, you owe at closing time, the appraisal of your new home, the cost of running a credit report and interest payments.

• Escrow fees: These refer to the money that’s held in a special account to cover expenses like insurance and property taxes.

• Title fees: These cover the cost of doing a title search to determine if anybody else has a claim to the house and the cost of providing title insurance for coverage in case any title disputes occur.

• Underwriting fees: These are used to cover the cost of the analytical process that’s done when you apply for a home loan.

• Third party fees: These include things like the costs of preparing the documents for your closing.

For more information, visit ERA.com, or check out the ERA blog, http://www.owningthefence.com/.

RISMedia

Ruth Schoenherr is a mortgage broker who will help you find homes loans in the Clearwater, Palm Harbor, Largo, Safety Harbor, Tampa, St. Petersburg area.  For more information, go to her web site at www.clearwatermortgagebroker.net.