There are many changes within the Fannie Mae and Freddie Mac guidelines which are causing some confusion in the Real Estate and Finance Industry. Let’s see if this brief list will help clear up some common questions or concerns.

Appraisers have been appraising properties of late without reviewing the purchase contract. This is now a new requirement for the appraisal companies. Any contracts and/or addendums associated with an offer on a home MUST be handed over to the appraisal company prior to completion of the appraiser. Any changes to these contract and/or addendums must also be provided to the appraiser prior to the final results of the comparative market analysis. Do you think this might put another delay on the timeline to close a transaction?

Portions of a parcel may no longer be appraised. The current guideline states the appraised value must be for the entire parcel.

Appraisers in the past were omitting comparable sales of foreclosed homes, REO properties and short sales. The new Fannie Mae and Freddie Mac guidelines require these types of properties MUST be included in the market value of the property. This could definitely have a negative impact on our housing market.

When information about values within a neighborhood is provided by someone who has a financial interest in the transaction, the appraiser must verify this information with a third party who is “arms-length” from the transaction. One would think this would be common sense.

Any major repairs have to be considered in the appraisal. Now what a brilliant idea! The appraisal cannot be completed until these repairs are finished. Anyone ever heard of the FHA 203K loan?

Supervisory authorities can no longer sign off on completed appraisals without reviewing the subject property themselves. The supervising appraiser has to personally review the property before agreeing to sign off on an appraisal completed by one of their employees.

The revised Home Valuation Code of Conduct applies many changes within the industry and was meant to stop improper influencing of values as well as protect the consumer. These changes although somewhat positive will most likely add additional delays to the transaction.

Technorati Tags: blog, finance, foreclosure, homes, leasing, loans, mortgage, Real Estate

When you are planning for a trade, the first step is to identify the type of trade into which you will enter. Do you want day trading, swing trading or positions trading? It all depends on your trading strategies. What matters most to a trader or an investor is how to create a positive cash flow.

Once we acknowledge what our goals and objective are than we can narrow our expectations. Is it a day trade? Is it a swing trade or is it a long term positions trade?

Suppose I am a day trader. I need to know what the daily range of the currency pair that I am planning to trade is to start with. I will expect that if I miss 20% of the bottom and 20% of the top then I can expect to capture 60% of the average daily range. I will generally be able to identify what the average range for the day is. My expectations are for X amount of a given range.

So how do I start? First I will have to structure my computer and charts to a format that is conducive to day trading. How many pips you want to make in a specific time frame like eight to six bars from entry? 30 pips or 40 pips!

Use the 15 minute time frame for the dominant trend if you trade Euro, Yen or Pound, then for day trading. Use the 5 minute time frame to exit a position in day trading. Use the 5 minute time frame as a shorter time frame trigger to go with the 15 minute signal.

How do you make your entry and exit decisions in day trading. First look at the 15 minutes chart than take a look at the 5 minutes chart to make your trading decision. The key to remember is when the 15 minute time period is in the buy mode, take the 5 minute buy signals. Similarly when the 15 minute time period is in sell mode, take the 5 minute sell signals.

If you are in a trade based on the 15 minute and the 5 minute time periods, these are the time frames you need to monitor for that specific trade. However as a day trader you can watch the 60 minute time period.

During day trading keep in mind your profit targets and where you are in range. Keeping an eye on the 60 minute time period will help you identify the current trend if a moving average crossover occurs and a potential change in the trend.

Suppose you are trading Euro/USD currency pair. The odds are that your profit potential is in the range of suppose 30 pips or less if the average true range (ATR) is 80 pips based on the past 14 trading days and if the Euro is already down 50 pips when a sell signal is triggered. How do you calculate these things?

Using good forex charting software will help you automatically calculate all the daily, weekly, monthly pivot points as well as the daily range, support and resistance, S-1, R-1 and other stuff.

You should learn how to calculate pivot points. Using pivot points in day trading can give you an edge. For day trading use the 60 minute time period for calculating the monthly pivot points, 15 minutes time frame for calculating the weekly pivot points and the 5 minute time frame for calculating the daily pivot points.

Technorati Tags: business, credit, day trading, debt, finance, forex, futures, investing, mutual funds, options, Real Estate, retirement, stocks, trading, wealth

Success is most commonly defined as “the favorable termination of attempts or endeavors.” For most of us, success is measured by what we say we are going to do and actually doing it. A clear plan with a purpose and a definitive ending is just one of many examples of success.

Without goals or objectives it is impossible to obtain success. We also have to manage our goals and objectives. They call this MBO or Management by Objectives. To help in reaching these goals, I have always memorized the S.M.A.R.T. acronym. Our goals must be Specific, Measurable, Achievable, Relevant and have a Time frame for completion. Success has several different meanings to different people but whether money is “success” to some people or just “stability” in the work or family environment, we still have to set goals to reach “success”. Success to a real estate agent has a much different meaning than success to a CEO of a corporation.

If one has long term goals to reach their success, breaking the goals into segments or steps might be more realistic to the S.M.A.R.T approach, since the objectives will be more specific, measurable, achievable, relevant and have a more specific time frame. By using the step-by-step method we can claim victory or have several successes along the way.

How do you know when you’re successful? Is it about how much money you have or how many toys you have? Can you be unhappy and still be successful? Can you have absolutely no material possessions and still be thought of as one who has accomplished big things in life?

Success is merely an emotional state or what is significant to you. Success may be a sense of fulfillment or just keeping a positive outlook on your dreams. A positive attitude alone can be so rewarding. Ever notice people with “negative” attitudes tend to have more problems in life?

We all have dreams of success. Remember, to accomplish these dreams we have to set goals. No matter how simple our goals might be attainable, there will always be obstacles to overcome. Taking positive “action” to bypass these obstacles rather than confronting these impediments with a “reaction”, we will find these hindrances much easier to overcome.

With the current real estate market and unemployment we need to be optimistic and keep plugging forward. If you have been in a certain field for years and find yourself unemployed do not get discouraged. Focus on the knowledge and experience you have and “jump” those hurdles. You will be amazed what you can achieve by setting new goals, creating a plan and facing “head-on” anything that gets in your way. We might have had to sell our home, trade in that Mercedes but with a positive attitude we will succeed. Reach for that success, one step at a time.

Review your goals daily. Know you can achieve anything you want to do. Work hard, be motivated, believe in yourself, show dedication and never quit dreaming or reaching for that success.

Technorati Tags: blog, education, entrepreneur, marketing, money, Real Estate, self help

The last thing anyone wants to loose is your house. Unfortunately even though we know this fact, sometimes we tend to take our mortgage payments for granted and end up loosing our homes. In this case, a home foreclosure will happen. When a borrower fails to pay his or her mortgage for a number of payments (usually 5 or 6) the lender will issue a foreclosure by selling the house or repossessing it.

More often than not lenders often lead their borrowers to believe that they don’t have other options available. There are other alternatives that homeowners can use to keep their house off the auction block.

These are some of the options that homeowners can use.

Short stop

You can get a short refinance for the foreclosure of your property. If you don’t want a new loan to cover an existing one, you can ask the help of a friend. A borrower’s friend or relative can buy or pay off the mortgage.

Negotiate a payment plan

The homeowner agrees to pay a portion of the amount and agrees to pay the rest in the succeeding months. The homeowner shows proof of their income and pays a down payment. This is a much easier way and most lenders agree to this plan.

Change the plans

In some cases a temporary change in the terms of the loan can be given when properly negotiated. These changes include but are not limited to, amortization extension and reduction of interest rate.

Third party sale

The property on foreclosure is sold to a third party. The proceeds will go to the mortgage lender as a settlement for the debt.

Friendly third party sale

The third party who buys the property sells it on foreclosure to clean the deed of other holders. Then the property is sold back to the borrower.

The above mentioned are just a few ideas of what you can do to keep your home if faced with foreclosure. Do not be afraid to ask for help. Be forward and upfront with your lender if you have fallen on hard times. If you have to take a second job to earn extra money then do it. It is far easier to work to stay out of foreclosure then to try and fix it once you have gotten a notice. Do not let your personal ego and pride cost you your home.

Technorati Tags: debit, estate, foreclosure, home, investing, loans, mortgage, property, real, Real Estate, retirement

Jack Speer, Bizwatch Publisher, in his online article titled “What Is The Definition of Customer Service” certainly provides a definition of a level of customer service that all companies that sell residential and commercial steel buildings should strive to attain.

In this article Mr. Speer explains and defines customer service such as.. ” Extensive customer service is the process in which the steel building company will deliver their services or products in a way that allows the buyer to be able to access them in the most efficient way that is not only cost effective but fair and humanly satisfying way possible.

In my several years dealing with the customer service of steel buildings, there can always be a problem in which the customer has some issue during the process of providing a steel building. Not meaning necessary that it is a problem when doing the paper work or delivery of the building, or even the customer installation of the building. There are just so many steps and procedures that the client needs to be clarified on during the whole process to ensure a good delivery of the system.

The prefab steel building salesman takes the brunt of answering potential customers’ questions right off the bat during the initial sales call. But once the customer purchases his metal barn, there are so many possible questions that this one customer can have throughout the entire process. From questions like “when will I get my drawings” to “what’s the best kind of insulation to use for prefab steel buildings”, sometimes it seems that the questions never stop. That’s where a clear and concise “frequently asked questions” page on the steel building company’s website comes in very handy.

When a company that provides prefabricated steel buildings follows these steps described by Mr. Speer not only will you get a satisfied customer but much more may be obtained.

Since this customer had such a great experience when receiving their metal barn, they will let their friends know about the great work done by your company. Word of mouth is one of the most powerful ways of advertising while at the same time one of the cheapest. Here is a customer testimonial provided from their great experience when purchasing their steel buildings from Price A Building:

“We would like to thank you and your staff at Price A Building for the building that I purchased through your company. The process from the first phone call making the purchase to keeping me informed clear through to the final delivery date went very smooth.”

“The steel frame building package was labeled clearly making it quite simple to follow with the engineered drawings plans and building manual. I had never erected a steel building before and in six days three of us had completed the framing of a 40′x60′x16′ tall building. Thanks again, we look forward to enjoying our added space.”

Danny & Dana Cutler, Commerce City, CO

Yes in a perfect world all customers will be 100% satisfied. So remember having a great and caring customer service department is key when you are buying a steel building.

Technorati Tags: metal buildings, prefab buildings, Real Estate, steel building prices, steel buildings

Brazils real estate market is set for huge growth in the wake of the country’s latest oil finds, as the positive effects of a thriving oil market are felt throughout the Brazilian economy.

Finance Minister Edison has stated in the next ten years Brazil will become an oil superpower and based on current projections will have crude oil for export for the next 50 years. This will result in Brazil becoming an important player in international politics.

Finance Minister Edison stated that Brazil would be producing 3.6 million barrels a day by 2017. With domestic demand in Brazil projected at 2.6 million barrels, this would leave a substantial surplus for export. President Lula da Silvas government is also planning to invest heavily into the petrochemical sector, enabling it to sell not just unrefined crude but also lucrative oil derivatives.

Petrobras, the country’s leading manager of oil and gas exploration, has grown exponentially in the last 12 months in the wake of the continued oil finds. A recent survey by Ernst & Young ranked it as the worlds eighth biggest company in market value.

In 2008 Petrobras was valued at a highly-respectable $95.9 billion, placing it in 37th place in the global arena. However, the recent finds, coupled with major technology advances, have caused market value to almost double to $164.8 billion.

The discovery of another huge oil find this September in Brazils Santos Basin, Petrobas in conjunction with the United Kingdoms BG Group and Spain’s Repsol was the result of a fourth well was drilled in the BM-S-9 block off the country’s south-eastern coast.

A find the previous week in the same region is estimated to hold between 1.2 billion to 2 billion barrels of oil and gas, although no projections are available with regard to the new find.

Petrobras will now concentrate its investment strategy on the domestic market, said Petrobras CEO Jose Sergio Gabrielli, who went on to explain that the primary objective now was not to continue investing overseas, but to ensure the effective development of all the recently-discovered offshore oil reserves.

President Lula da Silvas government is proposing assigning the dominant role in Brazils petroleum industry to Petrobras in a move to increase control over the energy sector. This is currently being debated in Congress.

The proposal would give Petrobras operator status for all Brazil’s oil and gas finds as well as becoming the commercial outlet for all domestic and international oil derivative sales. Under the proposal a new state-owned company would also be created to manage the governments oil and gas assets. This new company, Petrosal, could eventually grow larger than Petrobras according to analysts.

The latest developments in the petroleum sector have provided a huge boost to Brazils prospects of becoming a leading oil producer. We are in a fantastic moment, Jose Sergio Gabrielli, Petrobras chief executive, said on Monday.

Technorati Tags: brazil, bric, consultancy, investment, joao pessoa, land, oil, Paraiba, property, Real Estate, travel

Arizona Trustee sales have several benefits that outweigh the risks. Mastering the first step in winning a successful bid at a Trustee Sale can place you in a positive equity position.

You are buying liens not properties when you purchasing through a Trustee Sale. If research is not done properly you could be buying additional liens in addition to the first lien and would have the obligations of paying all liens in full.

The chain of title will determine all liens on a given property. This will show the mortgage liens in addition to any property tax and/or IRS liens. Do you research carefully as this is a crucial step in the process before bidding on a property. Don’t proceed to the next step until you feel comfortable with the valid liens and you’ve established your position.

Remember you are buying the property in an “As-Is” condition. There will be no inspection periods, no termite inspections, no home or seller warranties and no title insurance.

Once you win the bid, your bid deposit of $10,000 in the form of a cashier’s check is handed to the trustee. If you fail to close the transaction the following day, you will lose your deposit and possibly face additional legal ramifications.

How do you obtain the entire amount of the property in such a short period of time? The answer is usually a hard money lender. They may charge exorbitant interest rates on the loan but you will only need it temporarily. After 30 days or so you’ll be able to refinance the note. When you refinance you will be required to place additional funds in escrow which will act as an earnest deposit. You will need approval from the hard money lender prior to attending the Trustee Sale.

Once you purchase the home chances are they will require some maintenance. Most repairs will be cosmetic such as paint, carpet and drywall repair. You will need to bring the home up to standards before renting or selling the home. A percentage of the costs of repairs is usually decided or allotted prior to placing the bid and keep in mind you are buying a home with instant equity.

Most investors or buyers will not pay over 70% of market value. Keep in mind if you refinance the note using a conventional mortgage they only lend 80% of value.

Technorati Tags: blog, finance, foreclosure, homes, leasing, loans, mortgage, Real Estate

If you are planning on increasing the size of your current commercial or retail location or building a new business unit then choosing metal for the building will save you a lot of money as it is cheaper than conventional construction techniques. There are numerous designs to select from, and they are also more secure after construction is through.

Metal buildings are now more routine than the one and two-story structures found usually in marketing areas on these grounds. Take a look for yourself at the compelling facts why building with metal can be a good choice. As a result many commercial entities are turning to steel building kits for their next building plans.

There are boundless options when creating with metal that most companies allow, such as using an array of finishing elements on the outside of the building. Some of these elements include enhancing glass, wood, brick, stucco, and composite panels to accommodate local zoning demands, equal the appearance of existing buildings, and interest customers by fascinating them. With open plan interior space and high ceilings, a metal building offers your occupants such a variety of configurations and layout options for the interior, as well.

You will be able to create a beautiful building within your intended budget if you utilize metal while manufacturing it. The reasons for this include the fact that it will help prevent a lot of the problems and maintenance issues that are associated with poorer quality buildings which makes metal building kits more favorable. As opposed to many retail buildings that degenerate over time, metal buildings are extremely immune to mold, mildew, water, and termites; they will stand longer and need less upkeep than other buildings; and essentially they are more cost effective.

Metal buildings often arrive pre-drilled, pre-welded, and pre-punched at the factory, providing you with a fabrication that is easily and quickly built so that your tenants can move in, begin business, and quickly cause your profits to increase. There is proof that sing a retail metal building method can save up to half the cost of identical buildings manufactured with traditional construction approaches, since creating a new building can be somewhat expensive.

A metal building is indeed the most practical and cost effective as it will save money, provide a much stronger building, and more choice for interior design and exterior appearance. By picking the design that provides you a lifetime of advantages, you will avoid taking risks with your investment.

Technorati Tags: building, commercial, commercial buildings, commercial property, construction, metal building kits, metal buildings, property, Real Estate, steel building kits

Home equity loans can be a great source of cash, especially if you have an immediate need for it. However, before you plunge right into the process of drawing out a loan out of the equity of your property; better study the aspects that involve this loan.

Are you thinking about getting a home equity loan? Home equity loans might be an easy to acquire type of loan, but somehow even a seemingly great deal might turn out to be bad if the process of getting one is not done right. Make sure you understand all the language used in the loan process.The more you know and understand going in the better off you are at spotting trouble spots.

Lets take a look at the following areas and terms for the loan process.

Points

How are you affected by this? Most of these lenders charge a part of the loan for commissions for themselves and for their sub-agents. Actually such points vary from little to exorbitant; it all depends on the company and the type of loan. If you are charged 1 point, this would mean 1 percent of the loan. And so 1 percent of a 100,000 dollar loan is an up front charge of 1000 dollars. Do not worry, there are lenders that do not charge points.

Loan “rate” terms

It it a fixed or variable loan. If it is a fixed loan, then you do not have to worry about external forces such as economic situations directly affecting your interest rate. But on the other hand, if you have variable type of loan, you may actually have an initial good interest rate. Interest rates that go up naturally makes your monthly payments go up too in the process. So what do you want ” a home equity loan with interest rate that stays the same all throughout the duration of the loan, or one with the possibility of going up anytime? Understand that more often then not, a variable loan starts out one or two percent lower then a fixed rate. The big question is where does it stop once it starts to adjust?

Pre Payment penalties

Pre payment penalties are a fee that the lender places on you in the event you decide to pay of your loan early. These “pre-pays” can cost several thousand dollars in some cases. The reason for this is that by paying off the loan early, the lender will be missing out on the intrest payments you have agreed to pay over the life of the loan. (these interest payments are normally in the several thousands of dollars)

Late payment fees

In some cases, while you may have a low interest rate, you may have a clause in the contract for the loan that will increase your interest if your late on a payment. In most cases this can add up to several thousands extra over the life of the loan.

Insurance

One thing you want to check for is if the home equity loan that you are prospecting has insurance costs hidden somewhere, a cost that you definitely do not want. Whenever you get a loan, you can take in corresponding credit insurance. You can have credit life insurance, which takes care of your loan in the event that you die. However, if in the case of home equity loan, if you feel that insurance is just added cost, then by all means avoid the lender that requires you to pay for them.

Technorati Tags: business, equity, estate, finance, home, investing, loan, loans, mortgage, real, Real Estate, retirement

Landlords generally buy property with the intent of getting money out of it, so putting money in may seem like a self-defeating thing. But as the old saying goes, you have to spend money to make it, and there are some short term costs you should give in to, so as to save yourself greater costs later in the future. Here are some of the major ones.

Believe it or not, landscaping matters. Everyone loves having a beautiful lawn, but no one wants to actually mow it, do they? Get a few gardeners and some sprinklers and let them go to work to make your property beautiful and verdant. It’ll do a lot for making renting from you more appealing. If people wanted to do their own annoying mowing, they’d be buying their own houses, now wouldn’t they? Take advantage of their laziness to make your property look like a better deal.

By contrast this may come off as really obvious, but you simply cannot get by in today’s market as a landlord without ads. If no one knows you’ve got property for rent, no one’s going to be knocking on your door asking for the privilege of paying you. A simple sign on the lawn noting that you’re renting will help if you live in a busy area, but if you’re a little off the beaten path you’ll want something more assertive. If you’re in the latter situation, the internet comes highly recommended. While newspapers are slowly dying and have expensive asking prices for ads, the internet is only becoming more popular and ads on it are often very cheap and affordable.

3. Property Management Company Image: People would dislike signing a lease contract with someone that is not interested in finding out how they are going on at the rented place. Taking an alternate phone number and a P.O. Box could be a cheap alternative. You do not want to let your tenants be aware of the place where you are residing and that your phone is your cell.

Once you find someone suitable to lease from your property, you’ll want to have a good, solid lease that’s fully compliant with any state laws. Don’t just pick up a generic one from some office supply place, really take the time (and necessary money) to obtain a reliable leasing agreement. Make SURE that you know the state laws, and be certain that whoever you turn to to get your agreement made does too. Time and money spent now can save potentially thousands later on.

Finally, your property is gorgeous, people have heard about you and you’ve acquired tenants. From this point onward DO NOT be shy about collecting rent. If someone is late or shows signs of non-payment, don’t be afraid to spur him into action with a Three Days to Pay or Quit Notice sitting in his mailbox. It’ll scare him enough that he won’t be late again. Stay strict and they will pay up. But, if someone still doesn’t and you find yourself having to evict them, since you’ve kept up front about it you’ll begin the process exactly on time, preventing you from losing potentially costly days.

Hence by spending some money in landscaping, advertising, improving you image, lease contract and being prompt in sending late notices to the tenants you are sure to save a lot of money in the future.

Technorati Tags: investing, management, property, property management, Real Estate, real estate management, software