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August 2, 2007
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Posted by: www.apartmentfrog.com
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Once you've chosen an apartment, and have moved in-
1. Never leave your apartment door unlocked, even while taking out the trash. You may find someone waiting inside when you get back!
2. If required to give the superintendent a key to your apartment for emergency use, seal it in an envelope and sign your name across the flap with your signature overlapping onto the body of the envelope. This will deter against tampering. Periodically ask to see the envelope.
3. Make an effort to meet your neighbors. Learn to look out for each other's interests. Know who "belongs."
4. Don't get on an elevator with a stranger. In an elevator, stand beside the control panel to have direct access to the alarm button.
5. Never isolate yourself in a basement laundry room. If possible, arrange to do laundry with a neighbor.
6. Never open your door to a stranger. Utility company employees can slip their IDs under the door. If in doubt, look up the company telephone number yourself (don't rely on a number they give you), and call to verify the information.
7. Do not prop outside doors open for any reason. If you find one propped open, close and secure it.
Use only your first initial on your doorbell and mailbox, and in the phone book.
8. Immediately report any building security problems to the superintendent. Follow up to be sure the problem is corrected.
When your apartment is unoccupied for a long period of time, leave a radio or television playing to give the impression that somebody is home.
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July 24, 2007
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Posted by: Marshall Loeb from Marketwatch-posted May 19, 2006
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With home sales slumping and inventories on the rise, experts say getting your home sold depends a lot on pricing it correctly. One tool sellers can fall back on when the market is shifting is a home appraisal.
You can have an appraisal done before you contact a broker or if you're just curious what your home would be worth. They cost, on average, from $250 to $400 for a single-family home, slightly more for multiple-family dwellings.
An appraiser will physically inspect your house for shoddy workmanship or needed repairs, measure its dimensions and takes notes on the floor plan, utilities and other factors that affect pricing.
He or she should also look at three or four "comps" -- comparable homes in your neighborhood that have sold within the past six months -- and analyze how homes currently on the market are faring, says William J. Doka, owner and president of Erickson Appraisal Company in Fair Lawn, NJ.
That's a more comprehensive assessment of market conditions than the free comparative market analysis, or CMA, that a broker will give you, says Doka.
He cautions that brokers want to earn your listing and can be tempted to paint an overly rosy picture of how your home will sell while appraisers, although sometimes subject to similar pressure from mortgage brokers, strive to be objective.
The results of the appraisal will be presented to you in a report that can run from five pages, for a simple summary that suits most lenders and homeowners, to 50 pages or more for a "narrative" that banks might demand before financing the purchase of a multimillion-dollar home.
Homes are typically listed for sale at a price several percent above the appraised value.
Predictably, most of Doka's business comes from lenders, who typically require an outside appraisal before making a loan. But homeowners are also hiring him before contacting a broker. He charges from $350 to $400 to appraise a single-family home.
Some things to remember when looking for an appraiser:
Make sure the appraiser is licensed by your state.
Ask how long the business has been around, what professional education the appraiser has had and what organizations -- like the Appraisal Institute or the American Society of Appraisers -- the appraiser belongs to.
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July 16, 2007
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Posted by: http://www.iii.org/media/updates/press.771508/
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July 10, 2007
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Posted by: http://consumeraction.gov/caw_insurance_homeowner_renter.shtml
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July 2, 2007
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Posted by:
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Shopping for a mortgage is the first step toward owning a home and perhaps the most daunting, especially if you are not prepared.
Once a simple task that meant comparing fixed rates from among perhaps a dozen or fewer savings and loan companies, the mortgage hunt today is like finding your way through a maze.
There are dozens of loan types and hundreds of loan programs available through thousands of mortgage brokers, bankers, lenders, finance companies, credit unions, even stock brokerage firms.
Contrary to popular belief, finding a mortgage doesn't begin with an application
Education is a better first choice. Mortgage information sources are as vast as the number of mortgages available. Web sites, topical newspaper articles, mortgage books, consumer seminars and workshops, financial planners, real estate agents, mortgage brokers and lenders are all available to assist you along the way.
First and foremost, you must determine how your mortgage payment will fit your current budget and, to some extent, your future obligations 15 to 30 years down the road.
If you discover too late that you can't afford your mortgage, you'll not only face the possibility of losing the roof over your head, but you could also damage your ability to purchase a home later.
Step 1: Examine Your Finances
If you can afford to buy a home, you must then determine how much mortgage you can afford. Lenders are apt to put your loan application in the best light and qualify you for as much as they are willing to lend, which can be more than you can afford.
It's up to you to take stock of your income and expenses, both current and projected to determine what you can comfortably manage each month. Along with your mortgage payment, don't forget related insurance, taxes, homeowner association dues and any other costs rolled into the mortgage payment.
Step 2: Shopping For a Loan
When you are ready to shop for a loan you have two basic types of mortgage stores to shop, direct lenders and mortgage brokers.
Direct lenders have money to lend. They make the final decision on your application. Brokers are intermediaries who, like you, have many lenders from which to choose. Lenders have a limited number of in-house loans available. Brokers can shop many lenders for each lenders' store of loans. If you have special financing needs and can't find a lender to suit them, an experienced broker may be able to ferret out the loan you need. Mortgage brokers, however, are paid with a slice of the amount you borrow, some more than others some less. Internet brokers today perhaps receive the smallest cut, sometimes none at all, and can prove to be a real bargain.
Along with shopping the source, you'll also have to shop loan costs, including the interest rate, broker fees, points (each point is one percent of the amount you borrow), prepayment penalties, the loan term, application fees, credit report fee, appraisal and a host of others.
Step 3: Apply For a Loan
The application process is the easy part -- provided you've gathered documents necessary to prove claims you make on the application.
The application will ask for information about your job tenure, employment stability, income, your assets (property, cars, bank accounts and investments) and your liabilities (auto loans, installment loans, mortgages, credit-card debt, household expenses and others).
The lender will run a credit check on you to take a look at your credit status, but you'll have to supply additional documentation including paycheck stubs, bank account statements, tax returns, investment earnings reports, rental agreements, divorce decrees, proof of insurance, and other documentation. If the lender deems you creditworthy, it will likely hire a professional appraisal to make sure the value of the home you are about to buy is truly worth your loan amount.
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May 1, 2007
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Posted by: www.realtor.com
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When preparing to put your home up for sale, your first concern is the home's exterior. If the outside, or "curb appeal" looks good, people will more than likely want to see what's on the inside. Keep the lawn and landscape nicely manicured. Trim the bushes and season permitting, plant some flowers. Be sure your front door area has a "Welcome" feeling. A fresh coat of paint on the front door looks great.
Of all the rooms inside your home, pay special attention to the kitchen and bathrooms. They should look as modern, bright and fresh as possible. It is essential for them to be clean and odor free. A fresh coat of paint just may do the trick. Have any leaky faucets taken care of. A call to a plumber is a wise investment.
Since you want your home to look as spacious as possible, remove any excess or very large furniture. Make sure that table tops, dressers and closets are free of clutter. Don't use your garage, attic, or basement to store these extra things. These areas also need to have the impression of space. Instead, put them into storage. Make sure walls and doors are free of smudges and look for anything that might indicate a maintenance problem, such as cracked windows, holes in the wall or stained ceilings.
Finally, if your basement shows any signs of dampness or leakage, seal the walls.
Quick tips for showings:
1. Keep counter tops cleared
2. Replace all burned out lightbulbs
3. Open all drapes and window blinds
4. Put pets in cages or take them to a neighbor
5. No dirty dishes in the sink
6. No laundry in the washer/dryer
7. Clean or replace dirty or worn carpets
8. Put on soft music
9. Burn wood in the fireplace on cold days, otherwise, the fireplace should be clean
Always look at your home from the buyer's point of view. Be objective and be honest.
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