I ask myself everyday, “How can I build a more financially stable future for myself?” I’m sure it’s a question on many young people’s minds and something everyone is concerned with.

James Surowiecki, a respected journalist for The New Yorker, editorialized that as many as 15 million homeowners now owe more on their mortgages than their homes are worth and that homeownership is not building wealth for these people.

The fact is, buying a home is one of the single most important investments an American consumer can make. Here’s why:

• Interest rates on home equity lines of credit are far below the rates of most credit cards, so homeowners who are able to tap into those lines for emergencies accumulate LESS DEBT than renters forced to charge expenses at higher rates.
• Overall, the median net worth of a lower-income homeowner is more than 13 times that of a renter with a comparable income, according to Harvard University’s Joint Center for Housing Studies.
• Ownership is forced saving. Typically, payments in the first few years of a mortgage are applied to interest. As time passes, however, more and more of each payment is applied to the outstanding loan amount, accumulating equity that can be recaptured, if needed, through an equity line of credit or when the house sells.

As you can see, while the popular media touts how awful an investment in a home might be, it is still the best investment consumers can make.

With interest rates as low as they are now, and home prices softening, the housing market hasn’t seen a better selection of homes in quite a while. Right now is a great time to talk to a Realtor® and find financing for your investment.

One of the best gifts a seller can give a buyer is information about the simple things in life — when does the trash collector come, where’s the school bus stop, and what’s the best place to get a pizza.

Francis Tironi, owner of Tironi One Realty, and Timothy Mulchy, owner of Select Homes, both near Albany, N.Y., offer this additional list of information thoughtful sellers and real estate agents can provide that will make a buyer’s life better:

• Subdivision information, including a deed restriction book that lists the rules of the community.
• Appliance manuals, copies of receipts, and contact information for repair services, especially if the appliances are still under warranty.
• The location of the water main and its on/off valves.
• The location of the well, the depth and gallons per minute it produces.
• The location of the septic system and information who last cleaned it and when.
• Age of the roof, warranty information, and what company installed it.
• The names of reliable service people, including that of a plumber and a heating/air conditioning service.
• The names and phone numbers of nearby, good neighbors.

Source: The Albany Times Union, Stephanie Earls (01/27/08)

Agents, the California Association of Realtors, is offering a free web-based marketing tool to all members.  If you are a member, that means you!  Yes, you!

It’s a prebuilt newsletter with original content each month that features your picture, contact information and listings.

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To sign up for this FREE service, visit www.car.org and click on “Newsletter Sign-Up” on the homepage.

Rowdy neighbors. Filthy neighbors. Neighbors who never speak.

Some neighbors are boors and it can affect property values, says Deborah Ford, director of the bachelor of science program in real estate and economic development at the University of Baltimore.

“There are strict laws about housing discrimination, so [real estate practitioners] can’t do or say anything that would deter someone from moving to a community,” Ford says. [But, “if people get tired, some of them will decide, ‘I’m moving out.’”

Johns Hopkins University professor P.M. Forni, founder of the Johns Hopkins Civility Project and author of the book Choosing Civility, says he has always found it fascinating that the word “rival” comes from a Latin word for “neighbor.”

Now writing a follow-up called The Civility Solution: What to Do When People Are Rude, Forni offers these neighborly tips from his upcoming book:

When walking your dog make sure that your pooch does not stray onto your neighbor’s lawn. Clean up after your pet.

Do not schedule grass-mowing or leaf-blowing before 10 a.m. on Saturdays or Sundays.

Let your neighbors in the apartment building or cul-de-sac know when you are planning a party with multiple guests. Apologize in advance for any parking-related inconvenience that might occur.

If you have planned substantial renovation work, send a note to your neighbors with beginning and ending dates of the project and the daily working hours. Assure them that you have instructed your contractor that there must be no spilling over of the site onto neighboring properties. Include in the envelope two carwash gift certificates apologizing for the inevitable dust. Send an e-mail to neighbors to give updates or get feedback about how your contractor is doing.

via: The Baltimore Sun, Donna M. Owens (01/13/2008)

As published in RISMEDIA -January 2008.

The story of Starbucks is a wonderful example of reaching out and taking what you want, of perseverance, of holding that unquestionable desire close to your heart and never loosing focus of your desire. Howard Schulz created the culture known as Starbucks and turned that into a billion dollar retail operation, making a four dollar cup of coffee part of our way of life.

Schulz began his career selling coffeemakers, leading him to visit one his best customers, Starbucks and Co. in Seattle, which sold coffeemakers, beans and took great pride in educating their customers on the virtues of brewing. He fell in love with Seattle and the warm and loving family business. He lobbied to work for them, urging, persuading, cajoling, and persisting for one year until they finally hired him as director of marketing and operations in 1982. He says, “Life is a series of near misses. But a lot of what we ascribe to luck is not luck at all. It’s seizing the day and accepting responsibility for our future.”

Good home maintenance is key to creating and preserving a home’s value. Not to mention, it also impresses potential buyers.

Here are five basic steps that every home owner ought to take — before spending money on dream bathrooms or gourmet kitchens.

1. Safety. Make sure smoke detectors and carbon monoxide detectors are installed and in good working order. Check fuel-burning appliances to make sure they are properly vented and no gas connections leak. Make sure the electrical system is adequate. Flickering lights and popping breakers are the sign of a problem. Anchor handrails and grab bars adequately.

2. Preventive maintenance. Repair any leaks in the roof, seal gaps in the siding, paint bare wood, replace damaged decking, patch cracks in concrete, and caulk around tubs and showers.

3. Conserve energy. Install a programmable thermostat, weatherstrip doors and windows, fix leaking faucets, upgrade insulation, and replace leaky windows.

4. Go green. Consider environmentally friendly materials for windows, doors, siding, decking, fencing, roofing, flooring, and insulation.

5. Improve comfort. Get rid of clutter, open up spaces, update window treatments to allow in more light, and organize closets and storage.

via The Associated Press, James and Morris Carey (12/29/07)

Freddie Mac has launched an anti-fraud video on YouTube^TM in an effort to warn troubled borrowers about the dangers of falling victim to con artists promising to help them avoid foreclosure through various fraudulent workout options.

Click here to view the video.

Click here to visit Freddie Mac’s Avoid Fraud website.

Real estate professionals and police on Long Island, N.Y., where there have been a string of burglaries at open houses, offer this advice for homeowners and practitioners concerned about security at their open house events.

• Before the open house, start at the front door and imagine you’re the criminal coming into an open house. What items of value could you quickly and easily put in a pocket? Remove these valuables from the home and put them in a safe deposit box or at a trusted friend or relative’s home.
• Examine locks and latches on all doors and windows in case a burglar uses the open house as an opportunity to check out the place in advance.
• If the property is large, have at least two practitioners in the home during the open house, each with cell phones with numbers set to speed-dial 911 or another emergency number.
• Ask visitors to provide identification when they sign in.
• Keep control of the number of people touring simultaneously. If there are more than one or two couples, ask the others to wait outside or in the garage. Or set up appointments in advance.
• Don’t allow yourself to be cornered in a room with only one exit.

Via Newsday

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