Get a Home Warranty

If your purchasing a home soon consider getting a Home Warranty for your investment.

What’s a Home Warranty?A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.Check your home warranty policy to see which of the following items are covered. Also find out if the policy covers the full replacement cost of an item.

Plumbing
Electrical systems
Furnace
Water heater
Heating ducts
Water pump
Dishwasher
Garbage disposal
Stove/cooktop/ovens
Microwave
Refrigerator
Washer/dryer
Swimming pool (may be optional)

Source: American Home Shield, www.ahswarranty.com

Common Closing Cost for Buyers

You’ll likely be responsible for a variety of fees and expenses that you and the seller will have to pay at the time of closing. Your lender must provide a good-faith estimate of all settlement costs. The title company or other entity conducting the closing will tell you the required amount for:

Down payment
Loan origination
Points, or loan discount fees, which you pay to receive a lower interest rate
Home inspection
Appraisal
Credit report
Private mortgage insurance premium
Insurance escrow for homeowner’s insurance, if being paid as part of the mortgage
Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
Deed recording
Title insurance policy premiums
Land survey
Notary fees
Prorations for your share of costs, such as utility bills and property taxes

**A Note About Prorations: Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, the gas company usually sends a bill each month for the gas used during the previous month. But assume you buy the home on the 6th of the month. You would owe the gas company for only the days from the 6th to the end for the month. The seller would owe for the first five days. The bill would be prorated for the number of days in the month, and then each person would be responsible for the days of his or her ownership.

9 Steps to buying a Home

Buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible.

1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that the REALTOR® you chose is both highly skilled and a good fit with your personality.

2. Remember, there’s no “right” time to buy, just as there’s no perfect time to sell.If you find a home now, don’t try to second-guess interest rates or the housing market by waiting longer — you risk losing out on the home of your dreams. The housing market usually doesn’t change fast enough to make that much difference in price, and a good home won’t stay on the market long.

3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision. Focus on the wants and needs of your immediate family — the people who will be living in the home.

4. Accept that no house is ever perfect.
If it’s in the right location, the yard may be a bit smaller than you had hoped. The kitchen may be perfect, but the roof needs repair. Make a list of your top priorities and focus in on things that are most important to you. Let the minor ones go.

5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to “win” by getting an extra-low price or by refusing to budge on your offer may cost you the home you love. Negotiation is give and take.

6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself — room size, kitchen, etc. — that you forget about important issues as noise level, location to amenities, and other aspects that also have a big impact on your quality of life.

7. Plan ahead. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate home insurance, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers.

8. Factor in maintenance and repair costs in your post-home buying budget.Even if you buy a new home, there will be costs. Don’t leave yourself short and let your home deteriorate.

9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big financial commitment. But it also yields big benefits. Don’t lose sight of why you wanted to buy a home and what made you fall in love with the property you purchased.

Credit Crisis Bailout

Everyday I hear some news on the Government trying to find ways to bailout irresponsible people due to the credit crisis. Take the irresponsible homeowner who wanted to keep up with the "Joneses" and decided to buy a home that they knew they couldn't afford but in the mist of wanting everyone to say, "OoooH!! you have a nice home!", they took out the ARM or Interest- Only loan anyway. Now, the government want to help these people. Take the irresponsible bankers who approved all these bad loans so they could get bigger bonuses or a new Yacht or whatever they wanted. Take the irresponsible Freddie and Fannie Mac CEO's who bought all these bad loans with no questions asked.



One question?



1. What about all the responsible people who waited 5 - 7 years to save up a down payment to put on a home and get a good interest rate and a fix rate mortgage?



2. What about the responsible people who lives within their "means" and continue to pay their bills on time?



What about Me?



I have to watch the value of my home decrease because of these irresponsible people.

I have to listen to how the government tend to reward people for making ignorant decisions in life.



Now lets take one moment to think about this: When they bailout all these people, it's only going to make the economy worst. Why? Because after all the bailout, these people are going to have bad credit and they will not be able to take out loans to buy new houses. Their not going to be able to get credit cards to help the banks. They will still continue to make bad decisions and so therefore, they are not going to have money to spend to help the economy.



So, let's help the responsible people out there. Why don't we re-adjust the value of the people homes that are not in trouble so our payments could be lower. That means that the responsible people will have more money to spend on home improvements, new car sales, or become an investor and buy some of these foreclosure homes. See, the economy will benefit more if you help the responsible people because we know how to manage money and make wise decisions.



I'm writing my Congressman and I hope my readers will due the same!!

Congratulations, Job Well Done!

Congratulations to President-Elect Barack Obama!

The feeling that has spread throughout the African American community is indescribable. It took me a few days to write this blog.

I'll keep it short and sweet:

Congratulations Barack Obama and family. I'll see you on 1/20/2009.

Key States Having Voting Problems

The troubles have already started. Key states like Virginia, North Carolina, and Florida have all reported problems at 7:00 am. In Virginia and Florida, voter cards has not arrived. In North Carolina, power outage at Polling location.

It's time for the American people to say "ENOUGH IS ENOUGH".

First time (2000) shame on me.
Second time (2004) shame on you.
Third time (2008) IT AIN'T GONNA HAPPEN!!!

Get out an Vote, whether it take 6 hours or 16 hours, make your vote count. Don't let the Republican party steal another one.

Send a message, ENOUGH IS ENOUGH. This is a People Country and not a Republican Country.

Obama's Grandmother Dies

My prayers are with you and your family Senator Barack Obama.

God Bless You.