Insurance is determined based on what it would cost to rebuild your home, not its market value — and as we know, the cost of construction has gone up.
Read this informative article for tips on how to protect against this increase in costs in your coverage.
http://online.wsj.com/article/SB10001424052748704487904576267512488763924.html
Tuesday, November 1, 2011 | 6 comments
Please check out this list of 5 things by Financial Edge to be aware of and most importantly, how to prevent these expensive items from popping up in your home.
My email got flooded this morning with a number of clients and associates forwarding information claiming that there is a “3.8% Real Estate Sales Tax buried in the recently passed Health Care Initiative due to take effect in 2013″.
My first response was “WHAT???? … A Real Estate Sales Tax as part of a Health Care Bill?”.
My immediate action was to try and locate the original article purporting this information. Here’s what I found: http://www.snopes.com/politics/taxes/realestate.asp.
While relieved to find that the original message received was less than correct it really made me think of all the other dis-information that is being blasted out to the public as facts each and every day. Home Buyers and Sellers are constantly receiving information from a myriad of sources, all with some sort of spin involved, entirely dependant upon the end goal of the person delivering these so called facts.
I spoke of cliches in my last post and there being some kernel of sound reasoning behind them, so here’s another I would venture to share with you dear reader: “Take everything you hear or read with a ‘grain of salt’. While my last statement may be somewhat paraphrased, I would also add to this; Verify – Verify – Verify, and oh yeah… be sure and Verify … before acting on the information! Knowledge can definitely be empowering – but only if the knowledge is correct and accurate!
So where does one go to get the straight scoop?
Your trusted Realtor is a excellent resource to help determine if the information being received has any basis of truth involved. I won’t speak for all real estate agents, licensees or those who work part-time, however, of the many professional Realtors we have the pleasure of working with, all strive to have the latest correct information available for our clients. This information is gleaned from many hours of continuing education dealing with changes in taxes, changes in local, regional and national laws and procedural changes that affect how property transactions are conducted. A great number of Realtors volunteer their time and energies participating in the leadership and administration of the local Real Estate Boards as well as involvement in our local governments. Many of these same individuals are also involved in State, and National organizations, where the primary focus is on Real Estate and the preservation of property owners rights, through the California and National Association of Realtors. We do this not only to better prepare ourselves, we also do this to better serve and protect our greatest asset – YOU, our clients
Remember, the only question that is silly, is the one that goes unasked.
That’s my opinion – What’s yours?
Tuesday, February 2, 2010 | 37 comments
O.K., first I’d have to ask you a couple of questions:
You get the idea I’m sure, it’s really pretty complicated and we can talk about each of these 4 points more in depth in future posts. Right now let’s talk about why generalizations just don’t work in Real Estate. The national news feeds say the market appears to be getting better and I can only wonder WHO they are listening to and WHERE that very enlightened person is reporting from. If they are in Detroit, they are possibly lying through their teeth! If they are talking about Silicon Valley, Single Family Homes listed under $400,000: BINGO! They are right on the money! So, nationally you cannot make that kind of blanket statement.
Let’s bring it home a little bit more and listen to what they are saying about the California Real Estate Market “Most California real estate markets have already hit bottom”. Makes me wonder where this person bought their crystal ball? I hope they kept the receipt! Depending on what part of California we are speaking of, MOST markets, have not even heard, much less seen the giant whose shoe is going to be the next one to drop…..
In the next post we will examine our local market more closely and expand more on the shoe industry- nos vemos soon…
