Archive for the 'Real Estate' Category

Five tips for finding the perfect vacation property

Article Submitted By – Jerry Armen

jerry armen

When searching for that ideal vacation property to buy, you must take precautions. Here are five tips that will guide you in your quest.

Go there and try staying in the area for some time. See if you like the pace of life, the weather, the people, and the flow of things. You never know until you try.

Build a list of your and your family’s priorities. This purchase is all about you and your family. What is most important? Price, view, access to amenities? Is it a place for retirement or for beach access? Define what it is you are after and what you cannot live without in this purchase.

Start talking with a local financial expert to get a feel for the market and what will be expected of you. If you are paying cash, there is no problem. If you are, however, financing your second home through a loan, you may want to get pre-qualified. This will be especially true if you are buying a condo or other types of property that require it.

Now comes the burden of your responsibility. Follow through with due diligence. Contact the local home owners association to find out what responsibilities and limitations might apply. Get a history of the house. Also, find out what insurance you will be required to carry on the home in that particular community.

The last tip is simply to enjoy it.

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submit on March 22nd 2013 in Real Estate

How to survive the tough ecconomic times

None of us is being spared in reaction to the falling stock market and the collapse of many powerful financial institutions. Unless you’ve been keeping your money in cash and saving it under your mattress all these years, you know how horrible the news is in terms of loss of value of our savings, 401Ks and stock portfolios. However, let’s understand the loss is in paper, it is the value of your stock portfolio if you were to sell it today.

If you’ve been investing in a 401K, a retirement fund, all these years, you know that in some cases the worth of the investment is down as much as 40-percent! But this sharp decrease in value will only have an impact on you if you plan on retiring in the next 6-10 months and drawing on your investments. If you keep the investment where it is, the market will eventually go up and you’ll have the value back. Don’t take your money out now or you’ll experience the tremendous loss that the stock market is going through.

Even with investment firms going bankrupt, your money is still there because the stocks are in your name as are the ownership certificates. The federal government has now increased the protection of your savings account from $100,000 to $250,000. That means that if the bank collapses and ceases to be in business, your funds are insured by our national government. This is what is referred to as FDIC insured.

These are the basic hard facts. And hard they are if you were counting on obtaining a mortgage and your financial worth has decreased substantially. Or if you were planning on retiring and drawing on your 401K you know that you have suffered a huge loss in financial value.

The two areas where you might have taken a direct hit are; One, if part or all of your income allowance has been dependent on dividends. You know that because of the value of the stock you own has plummeted, your dividend income has also dropped significantly.

Two, if your stock broker has been buying stock on your behalf based on margin loans. This is when stock is being purchased using borrowed money in the hope that the difference between the increase in the stock cost will pay off the margin loan.

This is a very difficult situation for the individual who has been living off his stock market income. Hopefully, he has diversified his investments and that he has money in a savings account, treasury note or CDs.

If you were planning on selling your apartment or house at this time, it will be more difficult to get your asking price and for a buyer to obtain financing. The word in the real estate market is that it is now a buyer market. This is all very well and good providing a buyer pays all cash or is able to get a mortgage, not an easy task these days. Most real estate are down average of 20% to 30%. However, worst hit are some luxury homes which have lost 50% of heir values.

As you probably know by reading the newspapers or watching the news on television, thousands of people in the financial industry have lost their jobs and these are well educated, highly experienced men and women who have financial responsibilities. Many of these people are in my psychotherapy practice and I urge them to turn to parents and family members for help and consider temporary employment in a different industry.

But most importantly I tell them that essentially the sky is not falling. Yes, it looks horribly gloomy particularly for a family man who is dependent on his regular income.

The lack of stability in the financial world can be infectious. It can have the impact that our world as we’ve known it has come to an end. It can bleed into our everyday lives and make us feel as if we are unstable and that the next blow can be the final one. So much of our self worth has been linked to the money we make, our lifestyle, the stores we shop in, the cars we drive, the vacations we go on, and the restaurants we eat in.

This is all a surface illusion. This is image. This does not make for self-worth nor does it last.

Self-worth starts with self respect. Are you proud of yourself as a man who knows he lives a life of integrity and kindness? Self-worth is also measured in the esteem that others hold you by. Is your value in life measured by the size of your stock portfolio and assets or the look of love that comes from those who know you and whose relationship you value?

I urge you to look up in the sky and appreciate the air around us, the beauty of this great city, the warmth of our family, friends and neighbors merely by saying “Hello, I miss you, I thought of you today, I care about you.”

Now you may scoff as you read these word, but don’t. They affirm that we are alive and living in the greatest country in the world.

The freedom that we enjoy and the benefits that this society offers us far outweigh the financial crisis we are going through.

It is a matter of attitude. I promise you this. Be grateful that you are alive. And if you forgot how to get back to this basic idea spend some time meditating by closing your eyes and taking deep breaths. Or, go to your house of worship for a prayer service, even if prayer has not been your thing in the past. Just sit there and take it in. Smile. Hug your spouse or partner.

Our country will survive and thrive once again. This is America. We’ve gone through hardship and come out better. From bad must come good.

Robert Schwalbe, a New York City psychotherapist in private practice, is the author of “Sixty, Sexy and Successful: A Guide for the Aging Male Baby Boomer.” (Greenwood Press, 2008)

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submit on December 22nd 2010 in Finance, Real Estate

Cayman Islands condos

Whether you’re searching for Cayman Islands condos because you want to relocate to the island or you’re simply interested in acquiring a vacation home in paradise, you’ll find that Grand Cayman has a lot to offer. Almost 50% of the gross domestic product is based on tourism. The western side of the island features a variety of resorts, night clubs, restaurants and more, including the island’s airport. While the eastern portion of the island isn’t as well developed as the western side, there are still a number of wonderful spots for both vacationers and residents to enjoy, including the opportunity to sample native Caymanian cuisine at your choice of restaurants.

While Grand Cayman is the most populated of the three islands that make up the Cayman Islands, don’t be quick to disregard the opportunities that the smaller sister islands have to offer as well. Purchasing Little Cayman or Cayman Brac property can be a rewarding experience.

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submit on May 7th 2009 in Real Estate

Explore Northern Cyprus

For travelers who want a new region to explore, the small region of Northern Cyprus is ideal. It is home to ancient monuments, historical churches, intriguing monasteries, and bundles of artifacts thousands of years old. With incredible natural beauty and a thriving location between East and West, it is no wonder that this region captured the attention of historical figures like Cleopatra, Alexander the Great, and Leonard da Vinci. The only drawback for tourists is that once here, some find it hard to leave!

Northern Cyprus is marked by breathtaking mountains, broad plains, sandy beaches, and expansive views of the Mediterranean Sea. The beaches there are some of the cleanest and safest shores in the Mediterranean. Investors love North Cyprus property due to its prime location that is still not overrun with tourists. In addition, visitors love the area’s many shops, contemporary restaurants, entertaining nightlife, and hotspots for hobbyists who like to surf, scuba dive, and swim. The first visit often leads to others, motivating some tourists to invest in Northern Cyprus apartments and villas.

If you haven’t visited Northern Cyprus, now is a good time to take advantage of off-season pricing. December to February are the winter months, at which time temperatures average 12 degrees Celsius (about 53 degrees Fahrenheit). For tourists who enjoy mountain skiing or are most interested in seeing historical landmarks—now is a perfect time to visit. And should you find yourself wanting to stay long-term, you can always contact a North Cyprus real estate agency such as Golden Estate.

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submit on March 4th 2009 in Real Estate

Keeping an Old Counseling Job Fresh

In “Overcoming Job Burnout: How to Renew Enthusiasm for Work” by Dr. Beverly Potter,” job burnout is defined as “a malaise of the spirit in which motivation, that mysterious force that gets us moving is damaged or even destroyed.” Just like relationship enthusiasm, job enthusiasm waxes and wanes over time, and it takes work to stay motivated. When we can’t, we usually find a new job.

Although finding a new job is the default route for most suffers of job burnout, it’s not the only option. Training for counselors in the form of continuing education courses can help keep a job feeling fresh and challenging. When you’re learning new information and skills, you are much less likely to feel stagnant or uninterested in your work. Sign up for a McKissock class and discover how to revitalize your counseling work.

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submit on January 16th 2009 in Real Estate