Tuesday, April 28, 2015

Foreclosure Laws - Get Proper Legal Advise If You Are Facing Foreclosure

Foreclosure laws can be very perplexing; foreclosures laws vary from state to state. Sometimes general information may be all that you need to start in the right direction. Make sure that you investigate the laws pertaining to you state or contact a real estate agent or attorney to ensure that you fully understand what you are up against and the amount of time you have to get help.

Foreclosures happen when a borrower defaults on the loan. By filing a “notice of default”, on the property with the local court system where the property is located. Once the courts make a ruling in favor of the lender the property, generally put up for sale at a public auction. However the is a timeline between the filing of the legal paperwork from the lender and the auction sale of the property, this is where the local laws vary. Depending on the state and circumstances, this timeline is from three to twelve months long.

Lenders or the courts will publish an auction ad approximately thirty days prior to the auction. However, before publishing the ad the homeowner is served with a notice about the foreclosure and pending auction sale. As soon as the property sells, the title/deed is given the new owner of the property.

If are facing financial hardship, in default on your mortgage payments you still may have a chance to avoid foreclosure, your chances are better if you have not yet receive a notice of foreclosure. Make sure that you do not ignore the phone calls or letters sent by the mortgage company, talk to them, they are not that bad to deal with. Well, maybe they are but ignoring them will not help your situation with them. Generally, they would rather try to work something out then to pursue the process and expense of a foreclosure.

Hiring someone that fully understands and can advise you on the local foreclosure law may be a wise decision on your behalf. They can be the mediator between you and the lender, and protect your rights as a homeowner; many times, they can assist in preventing a foreclosure as well.

Many sites available offer general information regarding foreclosure law, while most provide general information, make sure that you get proper legal advice from an attorney. Remember banks really would rather not foreclosure on your property, however if given no other option the will. The best approach is to educate yourself, ask question, do some research and most importantly do not just roll over and give up, fight for your home.

Foreclosure Laws - Get Proper Legal Advise If You Are Facing Foreclosure

Unemployment - How Will It Affect The Real Estate Market?

It’s easy to see how and why unemployment levels have an effect on the housing market and other sectors of the economy. To state the obvious, the people without an income and are not economically independent won’t have the money available to buy products and meet monthly bill payments. Those without the available funds are likely to lose their house or not be able to purchase a house in the first place. This adds unoccupied homes to the housing inventory, which will contribute toward a reduction in house prices.

Despite numerous government projects to help stimulate the economy by helping home owners being instigated, a lender is extremely unlikely to negotiate on any loan repayments if the debtor cannot demonstrate how they could afford to pay in the future. This means that foreclosure is extremely likely and a high number of foreclosures are not at all good for the market.

Another, less direct way in which unemployment could have a negative impact on the housing market is through the effect that the unemployed have on the economy. The people without an income have less or no disposable cash to spend, which means that they purchase less from shops and other outlets. This in turn decreases the revenue that’s taken by commerce which could result in redundancies or even business closure. This in turn means that there’s even less money available on the market for things such as home purchase.

On a more localized level, increased crime rates are witnessed in a certain region having high unemployment levels. Any area with high crime rates is less attractive to prospective buyers and therefore the price of the housing is adjusted downwards to make amends for this lower demand.

Even the people who are employed might not be confident about their future in an economy that is seeing rising unemployment figures. Due to this they might choose to wait until a bad economy stabilizes and improves before making any massive purchases, houses included. Another factor could be that in a negative economy individuals expect house prices to decrease, and thus choose to wait until the market levels out so that they can get the best available price.

Those who do have jobs and a disposable income are more likely to maintain and invest in their houses. Home improvements like re-decorating and building extensions would always have a positive impact on the desirability of a home and nearly always push the price up relative to its location. With fewer individuals making such home improvements, or probably even seeing their houses fall into disrepair because of shortage of funds the overall attractiveness of homes, and therefore the amount that a buyer would be ready to pay for them would drop.

With unemployment levels so closely linked with the housing market, it’s usually one thing that is looked at when economists try to forecast housing prospects, and a factor that individuals usually take into consideration before deciding on whether or not to go on with a purchase.

Unemployment - How Will It Affect The Real Estate Market?

Essential Precious Metal Information For Jewelry Shoppers

How does the skyrocketing price of precious metals affect jewelry prices?

Summer is the busiest jewelry season for wedding and anniversary jewelry, and some shoppers may be surprised by sticker shock. Precious metals of gold and platinum are at all time highs, both up nearly 70% over the last 5 years; when the price of raw materials rises, so in turn does the price of goods. Precious metals have risen along with all commodities, including oil which we can relate to and feel in our pocket book each time we fill the tank.

With jewelry it is harder to conceptualize what this means, what is the real impact on fine jewelry prices? It’s all about the purity and weight. The most important fact a shopper needs to know when it comes to jewelry, pricing, and precious metals, is it is all about the purity and the weight. For the jewelry shopper this basic concept is easy to understand, but hard to apply when trying to compare prices. The Internet presents us with so many choices, which is great for the shopper looking for the best deal. The downside of so many choices is the inevitable; they are not all created equal, compelling smart shoppers to get educated. So what do you need to know? First, let’s begin with some important facts about the two key fine jewelry precious metals. Gold Jewelry

  1. Gold is measured in units of 24. 24 karat gold is pure gold. How much alloy is mixed with the gold determines its karat weight, and therefore how much you pay. 14 karat gold is 14 parts gold to 10 parts alloy 14 %2B 10 = 24). 18 karat gold is 18 parts gold to 6 parts alloy (18 %2B 6 = 24), and so on up the scale until you reach pure gold at 24 karat.

  2. Yellow Gold is alloyed with silver, while White Gold is alloyed with nickel.

  3. Other Typical alloying metals mixed with gold and their color visual effects are:

  • 24 karat Gold has a stunning visual Gold effect of course

  • Mixing Gold with Copper causes a visual Reddening effect

  • Mixing Gold with Silver causes a visual Greening effect

  • Mixing Gold with Zinc causes a visual Bleaching effect of the gold

  • Mixing Gold with Nickel causes a visual Whitening effect

  • Mixing Gold with Palladium causes a visual Whitening effect.

Platinum Jewelry

  1. Platinum is measured in terms of percentages, 90 and 95 percent being the most common for jewelry. A platinum stamp of PT950 would be 95/1000 parts platinum. The other 5% being an alloy.

  2. Platinum is commonly alloyed with another metal such as iridium or ruthenium.

  3. Platinum is a much denser metal than gold and is the largest percentage content wise in the piece of jewelry. Therefore jewelry made of platinum is considerably heavier and stronger than its counterpart in gold. Thus more expensive.

Understanding Market Prices

Even though the everyday jewelry shopper may not concern himself with market prices of raw precious metals, understanding how to read and translate the numbers is a good foundation for understanding price variations. On the open market metals are normally traded in ounces, therefore the jewelry shopper needs to know how to convert from ounces (OZ) or the less common penny weights (DWT), to grams, how jewelry weight is generally quoted. The formulas are simple and will come in handy if you need to compare prices. This is especially useful when shopping for wedding bands or other jewelry that has high metal content. Basically, without considering the complexity of alloys and percentages, you can take the market metal trading rate, frequently referred to as “spot”, and convert it to jewelry measurements to calculate the basic raw material cost.

The basic formulas:

  1. Ounce to grams: oz. * 31.1

  2. Ounce to penny weight: oz * 20

  3. Penny weight to grams: DWT * 1.555

  4. Penny weight to ounce: DWT / 20

  5. Grams to ounce: gram / 31.1

  6. Gram to penny weight: gram / 1.555

To calculate the raw metal cost (without accounting for alloys), take the market rate quoted in ounces and convert to the weight measurement you are trying to calculate, then multiply by the stated weight

Example: The current market rate for platinum is $2,000 per ounce. The ring you are interested in is stated to weigh approximately 6 grams in 95% pure platinum. Convert the ounce quote to a price per gram: $2,000 divided by 31.1 = $64.31 is the estimated price per gram. The ring weighs 6 grams in 95% pure platinum. Multiply $64.31 by .95, then by 6. The raw platinum cost at the current market rate is $366.57.

Alternatively you can convert the known gram weight to equivalent ounces, 6 divided by 31.1 = .193. Then multiply .193 by the market rate, $2,000 = $386. $386 at 95 % equals $366.

Bear in mind this is just the raw platinum cost to your jeweler. Double the raw cost as a starting place for a fair price. To give you an idea how rising precious metal prices are affecting jewelry prices all over the world, consider that same ring at 6 grams, with a $850 spot platinum price in 2004, would have cost $164.

The good news is this is a great time for refining old jewelry with high metal content. Depending on when you bought it, you have probably made at least 50% on your investment. If you are a current jewelry shopper, like any other purchase, get educated and buy from trusted sources. Precious metal prices are not likely to come down in the near future, and quality is always a good investment.

*Note: To find current market rates on metal visit kitco.com

Source by Jacqueline Hull

Essential Precious Metal Information For Jewelry Shoppers

HDFC Coops - The Best Deal in New York City Real Estate?

HDFC Coops – The Best Deal in New York City Real Estate

Have you been frustrated with the high prices for apartments in New York City?  Well here’s the good news:  If you have ever wanted to live in New York City at an affordable price, well, look no further.  If you qualify, you may have just found the greatest deal in New York City. 

HDFC Coops, a little know niche market in New York Real Estate, represent the “last great deals” in New York City.  Frequently these cooperative apartments sell for 40%-60% below there comparable regular Coop or Condos for sale.  HDFC’s (which stands for Housing Development  & Finance Corporation) have been around for many years but it is not until the last few years that more and more people are discovering these amazing deals.  They are only available in New York City although there may be other programs in other cities that are similar.

The History of HDFC’s

HDFC coops are city sponsored coop apartments that offer many of the benefits of a regular coop apartment but they also have some restrictions on purchase and they frequently have a “flip tax” upon sale. 

An HDFC coop came to be for one of a couple possible reasons.  They may have been originally a rental building which had been abandoned by an owner or the owner may have owed back taxes or water and therefore lost the building to the city. 

The City then rehabilitated the building, trained the tenants on ownership, set the Coop up financially to be self-sustaining, and then sold the apartments to the existing tenants for $250 each.  Yes, that’s right, $250!

The premise is that rather then the City being a landlord, you have now trained a group of owners who care about their building and their future.  It has been a very successful system. 

Typically over the years these HDFC coops changed hands among friends or relatives for very cheap prices.  In the past several years, some brokers with foresight have realized the value these Coops represent, and upon being marketed more professionally, much higher prices have been realized for the Owners. 


This has benefited both the buyer and seller of an HDFC apartment.  A seller now has realized much more money than they ever thought possible and they have a chance to realize their dreams.  Many sellers of HDFC coops have gone on to move to the suburbs and buy a house or take a dream vacation, buy a nicer car, and live a nicer lifestyle.  Remember, the original owners of HDFC coops were there because they typically lived in a run-down neglected building so to get $150,000-as much as $500,000 for one of these apartments which they paid only $250 for is a huge windfall.

The buyer is getting a chance to own a piece of New York City, one of the most expensive real estate markets in the world, for a fraction of the price of regular Coops or Condos.  Very often, HDFC coops sell for $400-$600 per square foot where as coops and condos in New York can sell for $900-$3000 per square foot.  This is clearly a huge difference. 

Don’t think these HDFC’s are in bad neighborhood’s either because many of these are in prime New York City neighborhood’s such as the Upper East Side, Upper West Side, Lower East Side, and Williamsburg, Brooklyn.


Does it sound too good to be true?  Well it isn’t too good to be true, but you must qualify to buy.  In many cases, to qualify to buy and HDFC coop, you need to make less than 120% of the areas Median Income.  In 2008, this number was $64,500 for 1 buyer and $73,725 for 2 buyers in a family and $82,950 for 3 buyers in a family.  Alternatively, some buildings, depending on the by-laws of the coop, have income restrictions to buy based on a multiple of the yearly maintenance and utility charges that the apartment has.  In either case, usually the management company and/or the Board of Directors of the coop will look at the adjusted gross income of your previous 2 years tax returns. 

In addition to an income restriction to buy, many HDFC Coop’s have a “flip tax” when you sell.  Typically, this flip tax is calculated as a percentage of the profit that you make.  The profit is defined as the sale price minus the purchase price.  The flip tax could be as low as 5% and can range up to as much as 85% of your profit. 

Clearly you need to take these factors into account and depending on the flip tax the Coop has, the price and value of the apartment may vary greatly. 


We have seen that an HDFC coop represents a great opportunity to own a piece of the “greatest city in the world” at a fraction of the price of other coops and condos but with that comes some restrictions on purchasing and upon selling you often have to give a portion of your profit back to the coop and/or the city.  

Tips when buying or selling an HDFC Coop

Find a broker who understands the rules and restrictions of HDFC Coops.  There are many intricacies to the process and if a buyer or seller is not qualified properly, you may find yourself wasting a lot of time just to find out you can’t buy or sell the apartment. 

HDFC Coops - The Best Deal in New York City Real Estate?

Miami Real Estate And The Effect Of Hollywood On Sales

Miami is a major city in the state of Florida, which covers 55.27 square miles, and is the seat of Miami-Dade County. This urban enclave is the largest city within the South Florida metropolitan area and the largest metropolitan area in the Southeastern United States with a population of 5.4 million. Miami and its surrounding cities make up the fifth largest urban area in the United States.

The importance of Miami as an international financial and cultural, and real estate giant has elevated Miami to the status of world city. Miami’s cultural and linguistic ties to North, South, and Central America, as well as the Caribbean is well-entrenched, and this city is often times referred to as “The Gateway of the Americas.” Florida’s large Spanish-speaking population and strong economic ties to Latin America also make Miami and the surrounding region an important center of the Hispanic world.

Miami also has enshrined itself among TV and movie buffs, and on a large number of occasions has the city been the set of a wide array of blockbuster television and movie projects. Emmy-award winning drama shows such as CSI: Miami, Nip/Tuck and Dexter all take place in Miami.

The NBC show Good Morning, Miami was fictionally based around the workings of a Miami television station, as well as popular sitcoms The Golden Girls and “Empty Nest,” were also based in outlying Miami Beach. In the 1980s however, one TV show, Miami Vice succeeded in revitalizing the city’s image as the ‘place to be’ for the new generation.

The remake of the new Miami Vice film takes a colder, darker look at the city’s underworld, although laid out in a cool and exciting manner. Video games like Grand Theft Auto: Vice City and Grand Theft Auto: Vice City Stories also take place in Vice City, which is a fictional city inspired by Miami, and includes some of the area’s architecture and geography.

Miami is also a mecca for Latin television and film production, owing to it’s proximity to the Caribbean and Latin America. As a result, many Spanish-language programs are filmed in the many television production studios, predominantly in Hialeah and Doral. These include game and variety shows, news programs, and telenovelas, as well as daytime talk shows Cristina Saralegui and El Gordo y la Flaca. All these add to the glitzy, seductive and sweetly sinister look most folks would crave of Miami.

Throughout the past decade, Miami has emerged as one of the most vibrant real estate markets in North America. People from overseas have descended into the city and have made an unprecedented revitalization of this long neglected southern jewel. The new dynamism has carried across Biscayne Bay to Miami’s worn-out downtown area, up Biscayne Boulevard, and throughout its historic east side neighborhoods.

Currently, along Miami’s bay front corridor, there are around an estimated 17,000 new luxury high-rise and loft style condominiums being built or awaiting permits. That upswing has been overflowing into the adjacent Miami neighborhoods. The past decade has seen the Miami cityscape changing dramatically.

A large part of these changes have been made just over the past three years, as the city’s skyline is now crowded with a mix of high rises and construction cranes. The city’s real estate market has been extremely dynamic, the main Miami preconstruction condos development areas are, Downtown, Brickell, Edgewater, the Miami River as well as Coral Gables. A large number of older Miami buildings are disappearing to give way to luxury hi-rise buildings.

The city’s commercial real estate market has also been very strong; it is estimated that over 4 million square feet of brand-new retail space will enter the market in the future. A flurry of real estate investments come from Latin America, the north east of the United States and also from Europe, where European investors are banking on the emerging Euro to acquire large pieces of the Miami real estate market.

Definitely, a huge chunk of prospective home buyers and developers see the sleazy, sinister and frenetic appeal of Miami as a huge clout in drawing them to this sunny, South Florida city, and a lot of that could be attributed to the sleazy appeal Hollywood has contributed to Miami’s stature.

Miami Real Estate – http://miamirealestateinc.com

Miami Real Estate And The Effect Of Hollywood On Sales

The Differences Between Investing in Gold and Silver Coins

After collecting coins of various types, you have decided to add some more that are priced higher than the ones you already have. This is the reason why you are trying to find as much information as you can about gold and silver coins. Both types of coins are actually deemed as international commodities that are traded every day.

Reasons for Collecting Gold and Silver Coins

Because both these coins are being traded on a daily basis, the prices of the coins depend on the value of dollars and on certain events that happened throughout the world. You can get updates regarding the quotes of metal on a daily basis at many reputable sites online.

Gold coins are popular because of the metal content and the unique designs that are featured on these. Many collectors seek gold Euro coins because these depict classic elements from countries that include Switzerland, Britain, France and Austria.

There are some collectors who prefer silver coins over gold, but most enthusiasts make sure that they have both. These coins can be availed from different resources that include online stores, coin dealers and at auctions.

Popular Gold and Silver Coins

If you are interested in getting gold and silver coins and you can only allot limited budget for a few pieces, you might as well prefer the kinds that are worth investing on.

For gold coins, you may want to look for the Austrian Philharmonic. This is a series of gold coins that became quite in demand throughout the world from 1992 to 1995. Each coin has 99.99% pure gold content. This was created to give tribute to the Vienna Philharmonic Orchestra. This sells at around $1300.

You may also want to avail the limited edition Vision of Dubai gold coin. This has 24 karat gold content and this was released by the Dubai Multi Commodities Center in two versions, half ounce and quarter ounce. The design on one side is the ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum and the Palm Jumeirah on the other side.

For silver coins, it is going to be a good investment to get the American Silver Eagle coin. This is one ounce and is quite popular among collectors and investors. On one side, it has the Walking Liberty, which was created by A.A. Weinman and it has the silver eagle on the reverse side. The price range of these coins is fair and it depends on the year that the coin was struck. This was not the first money though that utilized the Walking Liberty design. This was first seen on half dollars that were released from 1916 up to 1947.

Another good investment when it comes to silver coins is the Silver Libertad from Mexico. This is a one ounce coin. This has been struck every year and such act has been going on since 1982. To give you an idea about its price, a version of this coin that was struck in 1985 can be bought for around $20. This also comes in a one kilogram version, in which 3000 uncirculated coins were produced in 2003. The latter is not perceived as rare and hence, a great addition to our collection.

Source by Ed M Smith

The Differences Between Investing in Gold and Silver Coins

Real Estate Negotiations - How Negotiating Skills Make You More Money

Real Estate Negotiations can be one of the most intricate social or business interactions any of us will ever be involved in. Your real estate negotiating skills can make or break a deal. When it comes to real estate negotiations, you’ve got some stiff competition out there, especially when you’re sitting across the table from a savvy investor who has his eye on getting more than he gives. Use these tips to hone your negotiation skills and be ready the next time you’re in the game.

121. Always have an out in case your due diligence is wrong. Subject to Buyer’s Arranging Suitable Financing. Subject to Inspection. Subject to Buyer’s Partner’s Approval. Subject to Independent Analysis of Seller’s Property’s Financial Statement, etc.

122. Here’s one from the famous Ron Legrand: “…if you’re a beginner and worried about the seller finding out you don’t exactly know what you’re doing, don’t sweat it. You don’t have to appear to be an expert. You can try to fake it but, if you’re confronting an intelligent seller, many times they’ll see through you and try to ask you embarrassing questions. So if you’re asked if you’ve ever done this before, use these words: “Well actually, no. This is my first deal after graduating from some rather intense training. I was hoping you’d help me do it right, OK?” Thanks Ron! As far as you, if you’ve read this message on real estate negotiations and read the books recommended, you will definitely be qualified to say this last part about intense training… I give you permission.


124. Always know your exit strategy before you go in to a real estate negotiations session. This determines what you need and what you want but don’t need.

125. Never blink first. (This is a metaphor, don’t do the staring game)

126. If there is a “deal breaker” you must get agreement on there’s probably not a great deal, but push for it- you might get it. Real estate negotiations should be fluid and not so rigid that either party MUST get something.

127. Use “they said….” when justifying a reason. THEY who? Who cares…all that matters is that you didn’t say it. THEY did. So you can’t be alone in what you say…it was THEM that said it too. Maybe The Fed Chairman, or the Wall Street Journal or the local news anchor said it.

128. Perception is reality. Control the perception and you control what really IS in negotiations. This is an out-of-the-box negotiation skill but a very powerful one.

129. The optimal temperature for negotiations is 68 degrees. People are most suggestible, open to debate, and flexible in this environment. Don’t ask me how I know that. Sorry, I’ve been sworn to secrecy.

130. Use curiosity to gain attention. People will go to untold lengths to scratch that itch. I could tell you about the government study proving how 77.6% of all people are curious about blank but “Sorry, that’s classified”. That’s one of the sneaky real estate negotiating skills, but not unethical…curiosity has amazing power.

131. Pull the “I’m sorry I can’t get approval for that” routine. Place blame on someone else that you just can’t do that. Then offer to ask “them” again if the person you are negotiating with will do X.

132. Give respect to get respect. Real negotiators know you can’t dictate and you can’t act the fool and expect to reach a mutually beneficial negotiation. Disrespect the other party and they’re more likely to walk away even when you KNOW they need the deal. So be respectful at all times- it is the right thing to do and plus your pocketbook will thank you.

133. If you win a shouting match, chances are you lost the deal. Shouting is NOT a negotiating skill. VERY few times is it advisable to show your anger in a business negotiation (although sometimes this is the very thing that will SEAL the deal, crazily enough).

134. Give people what they want, easier, better, and faster. Why do they need to negotiate with anyone else? The best negotiation tactic sometimes is if you can give them exactly what they want when and how they want it and still come out good…do it and there’s little need for fancy real estate negotiating skills.

135. Let other people know you’re willing (or actively already ARE doing so) to negotiate with another party(ies)…”they offered me X…but…what can YOU do?”

136. There is no room for “EGO” in “nEGOtiations”. Let me spell it out for you: you can be “right” or you can make money…sometimes you have to choose which you want most.

137. Always treat everyone with respect. Even in the midst of a negotiation, take the time to be courteous to all the ancillary players in the game and any bystanders. There is no man from whom you can learn nothing…wow, was that deep or was that deep?

Real Estate Negotiations - How Negotiating Skills Make You More Money