WHY USE PRIVATE MONEY LENDERS?

 

WHY USE PRIVATE MONEY LENDERS?

1. Private lenders for real estate are offering competitive interest rates

Since a loan on an investment property is secured by a recorded Deed of Trust, private lenders can offer interest rates that are competitive with the open market.

Additionally, since private lenders for real estate are looking for investment properties, they are more likely to offer these rates on properties without a current cash flow than traditional banks, which are still restricting lending.

2. Private Money loans are faster and more flexible than other loans options

Since private lenders use the same investing principles as you do, they can make a quick decision, allowing you to avoid the long process of traditional bank underwriting.

3. Private lenders’ debt service coverage ratio is less strict

Since private lenders do not have the same underwriting process as traditional loan servicing arrangements, they have more flexibility to look at other factors influencing loan repayment.

4. Offer shorter terms

Working with private money lenders offer shorter terms to allow you to secure the property, avoid prepayment penalties, and look to traditional financing once the property is stabilized if necessary.

5. Real estate provides you better access to loans

While keeping traditional loan benefits. With private loans, you still have the same protections as with traditional bank loans, but are able to take advantage of a hard money loan process that moves more quickly and is inherently more flexible than conventional permanent financing.

6. It is less frequent for private loans to be packaged and resold

For real estate, they look specifically at you and your property to make an investment decision, and once they have found a good risk they are unlikely to sell their investment. This allows you a measure of confidence which you will still be doing business with the same partners for the life of a loan.

Even though cash buyers are a great resource for funding and buying real estate, Private Lenders are able to provide investment resources above and beyond what a typical cash buyers may be able to provide.




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Cash Buyer Real Estate Investing

Real estate investing has become a very popular entrepreneurial vehicle over the last 50 years or so. When you think about real estate investing, the first thing which probably comes to mind is your home. Of course, real estate investors have lots of other options when it comes to choosing investments.

Here's a look at some of the leading options for real estate cash buying investors.

Find a Real Estate Cash Buyer who invests in Apartments, Condominiums, and Town-homes
Find a Real Estate Cash Buyer who invests in Manufactured, Mobile, and Modular Homes
Find a Real Estate Cash Buyer who invests in Multi-unit real estate
Find a Real Estate Cash Buyer who invests in Raw land
Find a Real Estate Cash Buyer who invests in Single-family home properties.

Find real estate cash buyers for you all of your real estate investments with CashBuyersLists.com

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Across All Buyers, Millennials Have the Most Purchases

Across All Buyers, Millennials Have the Most Purchases

RECBL - Real Estate News

In housing, generations intersect regularly. Who’s downsizing? Who’s driving the market? Who’s trading up?

What generation is impressing on the market most today? Millennials, according to the 2018 Home Buyer and Seller Generational Trends study, recently released by the National Association of REALTORS(R) (NAR). Millennials are accounting for 36 percent of purchases, ahead of baby boomers at 32 percent, Generation Xers at 26 percent, and the Silent Generation at 6 percent.

"REALTORS(R) throughout the country have noticed both the notable upturn in buyer interest from young adults over the past year, as well as mounting frustration once they begin actively searching for a home to buy," says Lawrence Yun, chief economist at NAR, of the study. "Prices keep rising for the limited number of listings on the market they can afford, which is creating stark competition, speedy price growth and the need to save more in order to buy. These challenging market conditions have caused-and will continue to cause-many aspiring millennial buyers to continue renting unless more Gen Xers decide to sell, and entry-level home construction picks up significantly."

Millennials are buying homes with higher values, but the same square footage: $220,000 for 1,800 square feet, versus last year’s $205,000 for the same size, reveals the study. They are close to family and friends, as well, and prefer to reside near them-an attribute in common with other generations.

"The sense of community and wanting friends and family nearby is a major factor for many homebuyers of all ages," Yun says. "Similar to Gen X buyers who have their parents living at home, millennial buyers with kids may seek the convenience of having family nearby to help raise their family."

Additionally, 52 percent of the millennials in the study have at least one child-an indicator of the likelihood of a move-and another 52 percent purchased in the suburbs. Eighty-five percent purchased a single-family; just 2 percent went with a condominium.

"While there is an overall trend among households young and old to migrate towards urban areas, the very low production of new condos means there are few affordable options for buyers, especially millennials," says Yun.

All generations enlisted a real estate professional for their transaction, according to the study. Ninety percent of millennials are most likely to purchase through a REALTOR(R), with 75 percent believing they can educate them about the process. Ninety percent of millennials are most likely to list with a REALTOR(R), as well, and at least 84 percent of every other generation partnered with a REALTOR(R).

"Especially in today’s fast-moving housing market, consumers of all ages want a REALTOR(R) to guide them through the exhilarating, yet nerve-wracking experience of buying or selling a home," says NAR President Elizabeth Mendenhall.

For more information, please visit www.nar.realtor.​



Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.




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Low Inventory, Rising Rates and a Bustling Spring Market

Low Inventory, Rising Rates and a Bustling Spring Market

RECBL - Real Estate News

Spring is here, and, with it, a busy home-buying and -selling season. While real estate markets can vary widely by region, housing is currently seeing similar developments across the country.

The Kiplinger Letter, an online source for personal finance advice and business forecasts, recently shared spring market trends. According to Kiplingers David Payne, staff economist, and Rodrigo Sermeño, reporter, REALTORS(R) can expect tight inventory, increased buyer competition and a rise in interest rates across the board this spring.

The biggest obstacle? Not enough homes, particularly in heavily-populated areas and others that are growing quickly.

"Buyers should expect tight inventory of existing homes across the nation, particularly in fast-growing metro areas such as Denver, Dallas, Seattle and Portland-but also most major metros in the West and in the South," say Payne and Sermeño.

Buyers are out in full-force, and with less inventory to choose from, they are flocking to any available homes in their price point and submitting aggressive bids.

"Buyers should expect more competition for entry-level homes, both existing and new," Payne and Sermeño say. "Tight inventories of existing homes will likely lead to bidding wars in many markets."

What the industry sorely needs right now is new construction, and that’s where the South is prospering.

"The South is seeing strong growth in residential construction, including starter homes," say Payne and Sermeño. "Builders are gradually adding entry-level homes in certain markets in the South, such as Dallas, Phoenix and Atlanta. Some builders are focusing on peripheral areas around these cities, where it is cheaper for them to build entry-level homes."

According to The Kiplinger Letter, buyers in the South and West can expect new homes on the market later this year, especially duplexes and townhomes; however, new-construction growth is generally slow across the U.S. due to high costs and insufficient land to build.

"Builders will continue to gradually bring starter homes to the market, but the rising cost of labor and building materials will make it difficult," Payne and Sermeño say.

While skyrocketing prices have been a concern with tight inventory, REALTORS(R) can breathe a small sigh of relief, as growing home prices seem to be slowing down, if only slightly, for the foreseeable future.

"Home price growth will slow a bit, to 5 percent from 6.5 percent last year," say Payne and Sermeño. "Price appreciation has been strong for a while, and some areas are seeing demand hurt by affordability problems, especially for high-end homes; however, the slowdown this year will only be modest because of continuing lack of inventory, especially at the low-to-middle price ranges."

REALTORS(R) are watching the market closely, as one factor could change the status of todays market. Rising interest rates are homebuyers biggest concern, and contributing to this springs flurry of home-buying activity.

"The prospective rise in interest rates this year and next is actually boosting buyer demand to purchase before rates rise further, according to REALTOR(R) surveys," Payne and Sermeño say. "Next year, once it appears that mortgage rates will be stabilizing, then the higher rates will have a somewhat depressive effect on prices and demand."​


Jason Grace is AZ Social Realty's content editor. Email him your real estate news ideas at jason@cashbuyerslists.com.





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Disappointing Appraisal? Steps to Take

Disappointing Appraisal? Steps to Take

RECBL - Real Estate News

Appraisal disappointing? You have options, according to the Appraisal Institute.

"Homebuyers and sellers should first understand what an appraisal is and how it’s used," says Jim Amorin, president and acting CEO of the Appraisal Institute. "Real estate appraisals for mortgage finance applications are prepared for the bank or financial institution so they can better understand the collateral risk in making the loan. This can be confusing, because homebuyers typically pay for the appraisal and receive a copy of it."

​In some cases, the appraisal may not match the contract price-but just because an appraisal comes in below (or above) the listing or contract price doesn’t mean it’s flawed, Amorin says.

The agreed-upon contract price may be above market value, for example. In those situations, the buyer and seller often renegotiate the contract at more favorable or balanced terms.

Homebuyers should ask their lender for the qualifications of the appraiser, including whether they are designated by a professional association like the Appraisal Institute, says Amorin. A qualified and competent appraiser knows how to conduct a thorough market analysis and make appropriate adjustments.

Homebuyers also can ask whether the appraiser is directly engaged by the bank or whether the bank utilizes an appraisal management company, and what their procedures are for engaging qualified appraisers.

"The best way for consumers to combat potential problems with appraisals is to ensure the appraiser hired by their lender is highly qualified and competent," Amorin says. "Consumers have every right to demand the use of a highly qualified appraiser, someone with field experience in their market and knowledge and experience to handle the assignment properly."

Contrary to incorrect interpretations of appraiser independence requirements, appraisers welcome information that would assist the development of credible assignment results," says Amorin. If lender policies permit, consumers can accompany appraisers when conducting the property inspection and may provide the appraiser with any information they consider important.

Amorin suggests consumers ask their lender for permission to do so, and confirm the appointment. Consumers should also take note of whether an adequate inspection is performed. Did the appraiser spend enough time at the property to observe important features or improvements or potential problems?

Homebuyers should take advantage of their right to obtain a copy of the appraisal report," Amorin says. Even though the appraisal is ordered to help assess lender collateral risk, buyers are entitled to a copy of the appraisal report. Federal regulations require lenders to provide property buyers with free copies of appraisal reports no later than three days before the loan closes.

Although appraisal review is best performed by qualified appraisers, consumers should examine the appraisal for potential deficiencies, says Amorin. According to "Appraising the Appraisal: The Art of Appraisal Review," common errors in appraisals include: misuse of adjustments to comparables; disregarding special financing and concessions; or miscalculation of gross living area (GLA).

Amorin suggests consumers ask themselves:

• Do adjacent homes add or detract from the value of the subject property?
• Is the subject property equal to or lower in price than surrounding homes?
• Does the floor plan have any functional problems?
• Does the house (particularly the kitchen and bathrooms) require major remodeling to make it comparable with similar homes in the same price range?
• Is the number of bedrooms and baths in the home comparable to similar homes in the same price range?
• Did the appraiser perform an adequate inspection?

"Most lenders have appraisal appeal procedures, known as Reconsiderations of Value," says Amorin. "If you’re aware of recent, comparable sales information or items that may not have been available or considered by the appraiser, provide those to the lender. If problems were found with the first appraisal, you can and should obtain a second appraisal."

Source: Appraisal Institute

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Inside the Mindset of Gen X Buyers

Inside the Mindset of Gen X Buyers

RECBL - Real Estate News

Not to be overshadowed by the recent focus on millennial and boomer homebuyers, Generation Xers are making something of a buying comeback in today’s real estate market. Here’s why this trend is significant.

Members of Generation X (ages 37-51) have been somewhat sidelined when it comes to coverage of the social and financial impacts of the different generations. But recent studies are finding that those who came of age in the 80s and 90s represent a higher percentage of new homebuyers than in years past and are gaining a noted foothold in the real estate market.

Coming of age in the real estate market
According to industry sources, millennials are the generation buying the largest share of property at 35 percent.

Following right behind, however, are members of Gen X, accounting for 28 percent of home purchases-up from 26 percent last year.

Forbes reports that the increase in home purchases by Generation X is especially significant in that this sector has the highest average amount of student debt among the generations-$30,000-compared to an average balance of $25,000 for millennials. Industry sources also report student loans are a contributing factor as to why Gen Xers delay buying a home longer than their millennial counterparts.

What are they looking for?
According to industry sources, the following factors might influence the real estate comeback among Gen Xers. These factors may also help determine the kinds of homes these buyers are looking for.

Members of Gen X are typically:

• In their peak earning years
• The generation making the most money, with a median annual income of $106,600
• More likely to have families
• The largest generation with kids still living at home

While they may have taken longer to purchase homes, the generation in between the famed boomers and millennials is on its way to a real estate comeback. With more income and more children living at home, Generation X may be looking for bigger homes at a higher price point to accommodate their family and lifestyle needs.

Although millennials and boomers continue to generate coverage as buyers and sellers in the real estate market, the middle generation, Gen X, is coming into its own and is at its peak as more members join the ranks of American homeowners.

Source: HSA Home Warranty

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How to Qualify for an FHA Mortgage

How to Qualify for an FHA Mortgage

RECBL - Real Estate News

(TNS)-If you’re concerned about getting approved for a conventional mortgage, keep your dreams of homeownership alive by considering a mortgage insured by the Federal Housing Administration. For borrowers who meet FHA requirements, this mortgage alternative is a terrific way to buy a home with a low down payment and less-than-perfect credit.

What Are the Requirements for an FHA Loan?
In order to obtain approval for an FHA loan, the borrower must satisfy the following requirements:

Steady Employment History - Borrowers typically must have been regularly employed within the past two years. Self-employed borrowers have to prove that their business has drawn stable income for at least two years; verification, such as tax returns or company documents, is required.

Ability to Pay - This is determined by two formulas: the front-end ratio and the back-end ratio. The front-end ratio refers to the entire amount that the borrower spends on housing costs, and it must be less than 31 percent of the borrower’s gross income, with some exceptions that push limit up to 40 percent. This includes expenses such as the principal, interest, property taxes, homeowners’ association fees, mortgage insurance, and homeowners insurance. A borrower’s back-end ratio, also known as the debt-to-income ratio, encompasses all of the borrower’s debts, including the mortgage payment, credit debt, and personal loans, and it should be less than 43 percent.

Financial Soundness - The borrower must have a credit score of at least 580 and be able to afford a minimum down payment of 3.5 percent. Some institutions may accommodate lower credit scores if the borrower is able to pay a larger down payment. She must be a minimum of two years out of bankruptcy and not have a foreclosure in the past three years. All her federal student loans and income taxes must be current.

Residency - The borrower must be a lawful U.S. resident with a valid Social Security number, and she must be the occupant of the home.

What Costs Are Associated With an FHA Mortgage?
Like conventional mortgages, there are costs associated with FHA loans that the borrower has to pay when the loan closes, including lender fees, prepaid interest, inspection expenses, and attorney fees. The FHA mortgage program permits lenders and property sellers to pay some or all of the buyers closing costs.

To insure the mortgage against default, the borrower must also pay an annual mortgage insurance premium. The MIP varies based on the terms of the loan, including the principal, loan-to-value ratio, and term. On average, expect to pay 0.85 percent of the loan amount each year.

Borrowers may be required to pay a one-time additional mortgage insurance fee at the time of closing, called the Up-front Mortgage Insurance Premium. As of 2017, the UFMIP is equal to 1.75 percent of the mortgage.

Want to learn how long it’ll take you to pay off your mortgage? Run the numbers through Bankrates mortgage calculators.

What Are the Disadvantages of an FHA Mortgage?
Since an FHA loan permits a lower down payment, you can expect to pay more interest over the life of the loan than you would with a conventional mortgage that necessitates a larger down payment.

Visit Bankrate online at www.bankrate.com.

(C)2017 Bankrate.com
Distributed by Tribune Content Agency, LLC

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7 Secrets to Making It Big in America

7 Secrets to Making It Big in America

According to two recent studies, more than half of millennials no longer believe the American Dream is possible and half of baby boomers don’t believe their children will enjoy the same level of success they have.

As the living personification of the American Dream, I disagree!

Since America wasn’t built upon a class system, people can dream as big as they wish-regardless of their social class, how much money they have or who their parents are-as long as they put in the work.

In fact, America leads the world in the area of personal growth and development. Authors such as Dale Carnegie, Napoleon Hill, Og Mandino, Zig Ziglar, Jim Rohn and Brian Tracy have influenced millions of people, myself included. If you learn from their work and commit to personal growth, you will go from making a living to earning a fortune.

So, why doesn’t everyone make it big in America? There are seven reasons people don’t achieve success.

1. They’ve stopped dreaming. More than half of people don’t think the American Dream is possible. The Founding Fathers guaranteed the pursuit of happiness; were granted the opportunity to compete. What are you competing for? What’s your dream?

2. Closed-mindedness. We don’t have news today; we have opinions. To work beyond these opinions and achieve success, we must recommit to being readers, listeners and doers. Renewing your mind isn’t refreshing your screen. Disconnect for a while and use that time to become a student of success.

3. Inconsistent work ethic. Americans are known for having a great work ethic; however, we’re not always consistent. An inconsistent work ethic leads to inconsistent earnings, which leads to fewer opportunities. Fewer opportunities will undermine attempts to build our own fortune.

4. A sense of entitlement. We live in an age where many believe they’re deserving of privileges and special treatment. A great way to catch your entitlement is to catch yourself complaining. We complain because we think were entitled to something, but most of our complaints are actually "first world problems."

5. Risk avoidance. The more comfortable we become, the more averse to risk we are. There’s a difference between taking risks and managing risks; when you manage risks, you minimize your vulnerabilities and work toward your goals.

6. The microwave mentality. Great ideas and great processes get better over time; however, we often fall prey to the "I want it now" mentality. The most successful people are able to defer gratification by resisting a smaller, immediate reward in order to receive a larger, more enduring reward in the future.

7. Lack of perspective. It’s easy to lose perspective when were inundated with news and click-bait on social media. Principles don’t change, but our tactics do.

If you want to learn more about what it takes to succeed in America, visit brianbuffini.com/ee and check out my book "The Emigrant Edge."

Brian Buffini was born and raised in Dublin, Ireland, and immigrated to San Diego in 1986, where he became the classic American rags to riches story. After becoming one of the nation’s top REALTORS(R), he founded Buffini & Company, an organization dedicated to sharing his powerful lead-generation systems with others. Based in Carlsbad, Calif., Buffini & Company has trained over 3 million business professionals in 37 countries and currently coaches and trains more than 25,000 business people across North America. Today, Brian reaches over 1 million listeners a year through his popular "Brian Buffini Show" podcast.

For more information, please visit www.buffiniandcompany.com.


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Struggling With Mortgage Payments? HARP May Help

Struggling With Mortgage Payments? HARP May Help

RECBL - Real Estate News

(TNS)-HARP, or the Home Affordable Refinance Program, is a great way to refinance your mortgage and save a ton of money in interest charges. HARP allows homeowners who have little or no equity in their homes to refinance their mortgages and get lower interest rates. You can even refinance if your mortgage is upside down.

The program was due to expire in September, but it has been extended through December 2018, adding 15 months to this popular initiative.

The 2008 housing crisis left many homeowners owing more on their mortgages than their homes were worth. The rate of foreclosures rose 81 percent in 2008 alone and more than 860,000 homeowners lost their homes.

In 2009, mortgage finance giants Fannie Mae and Freddie Mac launched HARP. More than 3.4 million homeowners have refinanced their mortgages through HARP since then.

By refinancing your home through HARP, you may be able to reduce the interest you pay.

If you don’t want to start over with a 30-year mortgage, that’s OK-your loan terms can be set from 10 to 30 years. HARP also offers a streamlined refinancing process that requires less documentation than traditional refinance programs.

For homeowners whose mortgage rates are much higher than current interest rates, they’re likely see an immediate drop in their house payments.

HARP loans are specifically designed for homeowners whose mortgages have a loan-to-value ratio of 80 percent or more.

To calculate your loan-to-value ratio, divide the amount of money you owe on your mortgage by your homes appraised value. For example, if you owe $170,000 on your mortgage and your homes appraised value is $200,000, your loan-to-value ratio is 85 percent.

You may be eligible to refinance your mortgage through HARP if you meet the following criteria:

• You’re up to date on your mortgage payments, have not been 30 or more days late in the past six months and have not been late more than once in the past 12 months.

• The home is your primary residence, a one-unit second home or a one- to four-unit investment property.

• Your loan is owned by Freddie Mac or Fannie Mae.

• Your loan-to-value ratio is 80 percent or greater.

• You had the mortgage before May 31, 2009.

Many people don’t know if their mortgage is owned by Fannie Mae or Freddie Mac, but you can use their online tools to find out.

If you were previously denied a HARP-sponsored mortgage because you were upside down on your mortgage, it may be time to apply again. Borrowers who owe more on their loan than their homes values are now eligible.

Like with refinancing any mortgage, you’ll have to pay closing costs (which can be rolled into your loan). While a lower mortgage payment reduces your monthly expenses, you’ll want to calculate whether the savings in your monthly payment outweigh your costs.

When you apply for your loan, the lender will give you a "good faith estimate" and a "truth in lending statement." This outlines your costs for the life of the loan. Compare these documents to your current loan terms to determine if you’ll come out ahead with your new refinancing package.

If your existing mortgage includes mortgage insurance, you’ll be required to have the same amount of mortgage insurance with your new loan. If your existing mortgage doesn’t have mortgage insurance, you won’t be required to carry it for the new loan.

If you think a HARP refinancing might save you money, gather your most recent financial records, including mortgage statements, pay stubs and income tax returns. Contact your lender and ask if it participates in HARP. If your lender doesn’t, contact a HARP lender approved by Fannie Mae or Freddie Mac on their websites or on the Federal Housing Finance Authority website.

Visit Bankrate online at www.bankrate.com.

(C)2017 Bankrate.com
Distributed by Tribune Content Agency, LLC




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New Homeowner Statistics Unveiled

New Homeowner Statistics Unveiled

RECBL - Real Estate News

Owning a home is a key component of the "American Dream," as well as a primary driver of wealth creation for many Americans. However, the fruits of homeownership are not shared equally across demographic groups. A new report from Apartment List offers interesting insights.

After analyzing Census data from 1980 to 2015, looking at trends in owner and renter populations nationwide, broken down by race, education and income, Apartment List researchers found that white households have a significant advantage in achieving homeownership, and that this advantage persists regardless of education or income.


Some of the highlights of the latest Apartment List report include:

• Nationally, the homeownership rate for white households is 64.4 percent, compared to 32.7 percent for black households, 41.1 percent for Hispanic households, 54.0 percent for Asian households, and 45.8 percent for households classified as "other."

• Since 2000, the gap in homeownership rates has closed by 8 percent for Asian households, by 2.5 percent for Hispanic households and by 2.4 percent for households classified as "other." However, the gap for black households has widened by 3.9 percent.

• Prime working age households in the U.S. are 61.8 percent white, 13.1 percent black, 16.7 percent Hispanic, 5.7 percent Asian, and 2.7 percent "other."

• The nation is growing steadily more diverse, with the share of white households falling by 18.7 percent points since 1980.

• The Census Bureau projects that more than half of the American population will belong to a minority group by 2044.

• Nationally, Apartment List researchers found that homeownership rates for minorities with college degrees are lower than those for whites with only a high school diploma.

• Gaps in homeownership rates by race tend to be worst in metros in the Northeast and Midwest, with smaller gaps found in metros across the South and on both coasts, particularly in California, Texas, and Florida.

Overall, the data shows gaps have been narrowing over time, but gaps for black households have grown worse. And while more diverse metro regions tend to have smaller gaps in homeownership rates, many of these metros also have corresponding low overall rates of ownership.

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5 Things to Know About No-Interest Credit Cards

5 Things to Know About No-Interest Credit Cards

(TNS)-Tempted by that offer for a new credit card with an interest-free grace period? Don’t succumb to the first attractive zero percent interest credit card offer that comes your way-unless it’s the right card for you.

First, come to understand your own motivations. A credit card with a no-interest introductory offer may be a good choice if you’re looking to consolidate debt through a balance transfer or if you’re contemplating a vacation or big purchase but don’t have the cash to immediately pay for it.

Then, compare the terms of the cards you’re considering. Doing so can help you avoid potential pitfalls and choose the best offer for your circumstances.

Before you take the zero percent plunge, consider these five tips to make sure your decision is the right one.

Look Beyond the Offer
Zero percent interest cards offer a free promotional period on purchases, balance transfers, or both for a set time, typically anywhere from 12 to 21 months. After that teaser period, the cards standard annual percentage rate will kick in.

Examine that go-to rate closely.

If the standard APR is higher than the rate you’re charged on your current cards-and you even occasionally carry a balance-it probably doesn’t make sense to use the new card after the intro period expires.

Some zero percent interest cards double as a rewards credit card and charge an annual fee. Make sure you’ll be able to take advantage of the rewards you’ll get in return for paying that fee. Otherwise, move on to another card.

Although it’s possible to close the card after the promotional period is over, it’s not recommended. Like all credit card applications, before you’re approved, the issuer will do a "hard" credit check, which can adversely impact your score. And every time you close an account, you reduce your available credit, which can also ding your credit rating.

Have a Plan
The best way to take advantage of a zero percent credit card is to pay down a huge debt transferred from an existing credit card during the introductory period.

Use that interest-free time to pay off your debt entirely (or reduce it substantially) before the intro rate expires and you begin paying interest, possibly at a higher rate than your original card. Paying the maximum monthly amount you can afford, without accruing interest, can give you a leg up on wiping it out completely.

A balance transfer calculator can help you determine how much youll have to pay each month to retire the debt before the end of the introductory period.

"A balance transfer is just the first step in a two-step process," says Greg McBride, CFA, Bankrates’ chief financial analyst. "The second-and more important-step is to use that lower rate to accelerate debt repayment and get the balance paid off for good. Otherwise, you’re just moving money around."

Even if you can’t pay the debt in full by the end of the intro period, always make sure to pay on time. A late payment could void the promotional period, possibly trigger a penalty APR and cost you a princely sum in late fees.

Mind the Fees
Don’t be fooled: When it comes to balance transfers, a zero percent offer doesn’t mean you’ll be able to pay off your debt for free.

Balance transfer offers typically come with a one-time fee that ranges from 3 to 5 percent of the amount being transferred, although there are cards that charge no fee. Most of the time the math will work in your favor, even if you’re moving a substantial sum to a new card, but its smart to ensure that what you’ll save on interest payments is greater than the upfront fee.

Let’s say you want to transfer $5,000 to a card that charges no interest for 12 months. If the card charges a 3 percent transfer fee, you’d pay $150 to move the balance to a new card. Use a calculator to determine what you’d pay in interest on your current card over the course of the intro period.

Even if you have a cheap zero percent APR on your current card, your interest payments during that year would be much higher than the transfer fee-even assuming you paid off your entire balance.

Alternately, you may find that the best balance transfer credit card for you is one with a shorter promotional period but doesn’t charge a balance transfer fee. In some cases, it may be a better option than a card with longer terms that has a hefty upfront charge.

Beware the Purchase APR Pitfall
It might be tempting to splurge a little with a new card-especially if you won’t get charged interest on new purchases for a year or longer. Spending beyond your means is how debt accrues in the first place, and even an interest-free purchase still has to be paid for.

So, if you get a zero percent credit card to help manage your debt, be cautious about spending.

"Don’t get too enamored with the zero percent on new purchases," says John Ulzheimer, a nationally recognized credit expert formerly with FICO and Experian. "Make purchases you normally would have made anyway like dry cleaning, gas, groceries-and pay it off so you don’t get into more debt."

If you carry no credit card debt and want the card to finance a big purchase that’s beyond your monthly budget, like an appliance or furniture, proceed with caution, as well. Do this only if you can pay off the purchase during the intro period.

Make Sure You Qualify
Like most of the best credit card offers available, the better your credit score, the more likely you are to qualify for a great offer on a balance transfer card.

"Because of the structure of the cards, they’re really reserved for people with great credit. Even though you may want one, you may not qualify," says Ulzheimer.

Overall, issuers rejected 17.7 percent of credit card applications between October 2016 and February 2017, according to a survey by the Federal Reserve Bank of New York.

Even if you are armed with a high enough credit score to qualify for the best offers, in some cases, there may be a cap on the balance transfer amount. Check the fine print to see if the balance transfer card will meet your needs before applying.

"Your balance may be (so) large that the new issuer won’t accept it," says Linda Sherry, director of National Priorities at watchdog group Consumer Action.

(C)2017 Bankrate.com
Distributed by Tribune Content Agency, LLC


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5 Tips to Beautify Your Bath on a Budget

5 Tips to Beautify Your Bath on a Budget

Your bathroom is one of the hardest workers in your home. You want it to help you keep clean and comfy, but when company comes, you want it looking lovely and pristine. To maximize both its use and its beauty, Home and Garden TV designers suggest five thrifty tips for upgrading any bath on a budget:

Try Granite - Because bathroom counter tops are fairly small, you can swap out dated tile counter tops for more attractive granite without spending a fortune. A light, neutral color will maximize natural light, while a darker, high-gloss color can add drama.

Focus on the Faucet - Today’s faucets, in a wide variety of finishes from white to brass to traditional chrome, can add new charm to any bathroom for $200 or less. If you’ve an urge to splurge, consider replacing the sink as well with a new drop-in, wall mount, or above counter vessel design.

Shower heads to Swoon Over - Replacing an old shower head with a drenching but soothing rain forest model, or a three-way head that can target shampoo or your sore muscles, can make you feel like you’re in your own spa-and all for under $100.

Love the Lighting - Augment an old fashioned ceiling light with wall-mounted lighting to add warmth and value to your bath. Savvy shoppers can do that-and even add some flattering light above the mirror-for well under $300.

Warm It Up - When you step out of the bath, there is nothing like a heated floor and/or heated towel bars to make your feel like you live in the lap of luxury. Radiant floor heating can cost as little as $5 and $8 per square foot, and a wall-mounted towel warmer can grace your bath for some $200.



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Prepare for Entertaining Inside and Out

Prepare for Entertaining Inside and Out

Cash Buyers List News

​(Family Features)--With warm weather comes an overwhelming urge to get outside and enjoy it. 

From barbecues and cookouts to ice cream parties and poolside hangouts, summertime is a popular excuse to kick up your feet and invite your friends and family over to celebrate together.

Now is the perfect time to give your deck or patio area a little TLC before inviting the masses. Follow these tips to revamp and refresh your home’s exterior and interior ahead of hosting your next summer event.

Get your gardening gloves on.

A little color goes a long way for a bed of plants and flowers. Plant some bright flowers along your patio or consider growing functional, edible plants that look and taste great. Gardening is a fun summer project that can add beauty to your home’s exterior lounging areas. If gardening isn’t your thing, fresh-cut flowers in a vase as a centerpiece can do the trick.

Ready the deck and home exterior.

Funguses on the deck aren’t appealing, nor are mildew stains, dirt or weather-beaten patches. Pressure wash your deck then re-stain it with a matching color and finish, and apply a wood preservative to help prevent water damage and discoloration. In addition, it might be time to give dull shutters and doors a fresh coat of paint to prevent them from looking washed out.

Remove mold and mildew.

Mold and mildew can form on the exterior siding and trim of your home, as well as on patio furniture, flower pots and swimming pools. It’s important to regularly clean the outside of your house as well as your outdoor furniture and accessories that may have been stored away all winter. It’s easy to remove mold or mildew with a garden hose, a long-handled brush and a mixture of a 1/2 cup of Clorox Regular-Bleach per each gallon of water.

Stop the spread of fungal disease in gardens.

​Fungal diseases can be deadly to plants and wildlife. When used as directed, bleach is a simple but powerful tool that can be used to help stop the spread of fungal diseases. It can also keep cut flowers alive longer when you add a few drops to a water-filled vase.

Clean up the bathroom and kitchen.

Don’t forget about indoor spaces. When hosting friends, its likely that you or a guest will need to visit the kitchen to prepare a side dish or grab another drink and bathroom visits are inevitable. Clean up any loose items and use a disinfecting wipe on hard surfaces like counter tops, door handles and light switches.

When it comes to summer entertaining, all you need is a quick refresh before you kick back with loved ones in a clean, relaxing space. 

Source: Clorox

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Fed hike will co$t consumer$

It's a trap

Fed hike will cost consumers $1.6 billion in credit card interest

#realestate #cashbuyerslists #interestrates #carloans #creditcard #schoolloan #mortgages #studentloans #credit #card #debt #billion #million

For the 157 million Americans who carry a balance on their credit cards, Wednesday's Fed action is bad news.

With credit card debt rising steadily, the quarter-percentage-point increase in the federal funds rate will cost consumers roughly $1.6 billion in extra finance charges in 2017, according to...

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Home builder sentiment rises....

Home builder sentiment rises to highest level in 12 years

Home builder confidence soared to highest level in 12 years as Trump rolls back regulations...

#realestate #cashbuyerslists #homebuilder #home #builder #newconstruction #construction #homeconstruction #propertyconstruction #trump
The nation's home builders couldn't be happier with President Trump's first move to roll back strict environmental rules.

A monthly index of builder sentiment jumped six points to the highest level in 12 years. The Nation Association of Home Builders/Wells Fargo Housing Market index hit 71 in March, a sizable jump from 58 in March of 2016.

Anything above 50 is considered positive sentiment.

View more> http://bit.ly/RECBL-March15

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What is your communication strategy?

What is your communication strategy

Freshen Up Your Communication Strategy for Spring?

#realestate #cashbuyerslists #communication #strategy #communicationstrategy #social #socialnetwork #socialmedia #socialmediamarketing #marketing

Q: As the spring selling season approaches, what can I do to freshen up my communication strategy?

A: With the spring selling season right around the corner, prospective buyers are beginning to ramp up their search for the perfect home, while sellers are busy preparing their homes to be listed on the market.

Read More> http://bit.ly/RECBL-March14

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10 Must-Know Tax Deductions for Real Estate Professionals

10 Must-know tax deductions for real estate professionals

10 Must-Know Tax Deductions for Real Estate Professionals

#realestate #cashbuyerslists #tax #deductions #taxcredits #taxes #business #taxfiling #businesstaxes

As a real estate professional, you're likely used to juggling lots of data. But when it comes to tax-time, you'd be surprised to know there are many deductions you may be overlooking. ​Brush up on the following information to maximize your deductions and save big on expenses. And don't try to go at it alone;

Read More> http://bit.ly/RECBL-March13

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