Home Insurance

When you take out home contents insurance (Contents insurance is insurance that pays for damage to, or loss of, an individual's personal possessions whilst they are located within that individual's home. ), it's a good idea to make sure your cover is "new for old".

This means that, if you have to have a damaged or stolen item replaced, your insurer should pay enough for you to buy a new version.

Some policies only include "indemnity" cover, which will take wear and tear into account and therefore pay out less.

But there are a few catches to watch out for. Many policies will not provide new-for-old cover on things such as clothing, bed linen and even pedal bikes. Check your policy booklet for any exclusions.

Another issue is when insurers agree new-for-old cover on the basis that they can decide on suppliers to replace lost or broken items.

For example, if you had a laptop stolen, you would only be able to get a replacement machine – to the same value – from the insurer's chosen supplier, rather than exactly the same model again, or its cash equivalent.

And bear in mind that new-for-old cover could be more expensive than an indemnity policy – although many companies now offer new-for-old as standard.

What does Contents Insurance Cover?

Contents Insurance covers loss or damage to your possessions whilst they are in your home howsoever caused (apart from personal malicious damage).

In this context "possessions" basically means anything that is not permanently attached to the structure of your house . So Contents Insurance would not cover your fitted kitchen units but your furniture would. Everything permanently attached to the structure of your house is covered by Home Insurance (which is also known as Buildings Insurance.)

The most frequent cause of damage is theft, accidents in the home, burst and leaking pipes. But if you can still claim if vandals, storm, fire or flooding, falling trees or explosions, damage your belongings. Even damage to contents resulting from a vehicle or aircraft crashing into your house is covered. In fact it's hard to think of circumstances where loss or damage would not be insured - oh yes there is one - deliberate damage. You can't deliberately damage your contents and expect to make a valid claim!

Many policies will insure you for accidental damage caused by yourself. However, the extent of the cover can vary between policies. So do check out what's included. Ask about videos, TV's and computers and what about damage to mirrors and glass generally? You might well have to pay an optional extra to have them insured but it could be well worthwhile. (Claims for these will probably only be valid if the items are in the home at the time they are damaged.)
Valuables like jewellery, antiques or works of art will almost certainly need to be specifically listed on your policy. This often applies to any item valued at more than £2,000. (£2,000 is only a guide - please specifically check out the limit for valuables on your policy as these limits do vary between insurers.) There will be an extra charge for insuring these listed valuables based on what they are and their value.

Also check out whether your possessions stored in your garage or garden shed are covered. And what about any garden furniture? Are they insured? You will have to specifically ask those questions.

You may also be able to extend your cover to "All Risks" which then covers any possessions (and sometimes some cash) you take with you when you leave your house. Check out your proposed policy.

Most policies will also offer to insure the contents of your freezer in the event of spoilage due to the interruption of your electricity supply. This cover will usually be an option extra. Have you tried adding up the value of the food in your freezer? You may well be surprised how much it comes to!
Look out for policies that provide cover on a "new for old " basis. This means that no matter what condition or how old or the item was before it was damaged or went missing, the insurance company will payout sufficient to enable a brand new item, of a similar or same specification, to be purchased. This will avoid a lot of potential aggravation with your insurer. If the insurance is on a "replacement value" basis you will receive less as the payout will be reduced to take into account the age and condition of the item. As you would expect cover on a "replacement value" basis is cheaper the "new for old" but we think the extra benefit is well worthwhile.

Finally, many good policies will also include public liability insurance. This is the type of insurance you might need if someone came to your house tripped on a toy and hurt themselves in the fall. They could make a claim against you and, as you probably know, such claims can be large.

The Best Property Agents for Portland Oregon Apartments

There are a good number of available apartments for rent in Portland Oregon . However, finding out the best apartment to suit your personal needs may be a challenge for most of us, especially if you don’t have good experience in looking for rental properties. So how do you get hold of one of the best Portland Oregon apartments for rent?

One of the most obvious options that you will come across will be to check through the various sites, magazines and other such resources to find out all the possible options that you can lay your hands on. That is definitely a good approach, as you will get hold of all the available options that you have in hand. But sometimes that necessity to deal with a property agent can also be a good idea.

How Do You Get Hold Of A Good Agent?

When you plan to deal with an agent, there are a number of benefits for you to see. For example, any Portland Oregon apartments agent specializing rental properties will be able to give you instant information on all the available options for you to come across with respect to apartments for rent in Portland Oregon . This will save you a good deal of time and research work that you may have had to go through.

But you need to be sure that the agent whom you are working with is an efficient party to be dealing with. For this there are a number of things that you can do. First of all, you can always check the track record of the agent that you have come across. Find out how long they have been operating in Portland, and how many successful deals they have made.

Customer Feedback

At the same time, you need to understand that a good agent is bound to have a good number of positive reviews from their clients. Go through the reviews that the earlier clients have supplied about the agents and see what sort of treatment you can expect from them. At the same time, this will tell you how helpful they may prove to be in case you face problems in the future from your tenants.

Check the commissions or fees that the agent is asking from you. The cheapest agent may not be the best help if you face a tricky situation in the future. On the other hand, the most expensive agent may not be providing the best services either. Make sure you come across someone who asks for reasonable fees, and provides all the help that you may require from them.

Finally, ask the agent to clearly explain to you the terms mentioned in the agreement of tenancy so that you clearly understand your rights and privileges as a tenant. At the same time, ensure you are clear about penalties, fines or any other charges that you may be liable to pay over the rent. These factors are sometimes overlooked which results in complicated issues in the future.

Make sure you pay good attention to all the above factors when looking for Portland Oregon apartments to rent. Stanley Culver Revocable Trust is a good business to check out with regards to apartments for rent Portland, Oregon.

The House For Sale in the Real Estate Market

When hunting for a house for sale many questions come to the mind of the buyer. The house for sale falls under a special category and also a special type.

The house for sale in the real estate market may belong to either of three categories - a house for sale with a clear title, a house for sale that is under the cloud of foreclosure and a house for sale that is foreclosed upon by the government.

In the current mood of the real estate market in USA the general category of house for sale with a clear title is in the background being hard pressed by the onrush of foreclosed units that are pushing down prices drastically. But although this category of house for sale may be relatively costly it is safer as regards papers and conditions.

Under the foreclosure house for sale category there are three divisions - the pre- foreclosure house for sale, the house for sale at the foreclosure auction and the REO or real estate owned house for sale after being repossessed by the banks. Short sale takes place during the pre-foreclosure stage. Prices are low and the condition of the house is in good shape. The cheapest house for sale are those found in the foreclosure auction but the condition is the worst and one is not allowed to inspect the units as these are sold on as-is basis. The REO units are clear of all liens but the price may be slightly higher. However banks are offering huge discounts to offload the overwhelming number of repossessed homes they are sitting on.

There are many types of houses for sale in the real estate market. The Duplex generally refers to two stacked apartments on different floors. The two family-homes is a small apartment house. In USA an apartment must have bathing, cooking and sleeping facilities. These are sometimes referred to as flats. An apartment tower consists of block or flats. A condo is an individual apartment with certain common areas. A garden flat is at ground level in a multi-level building. The penthouse is on the top level of a multistory building. One of the most popular is the studio or bachelor apartment that consists of single room with a kitchenette and a bath. The lofts or the warehouse conversions are also popular. The garage apartment is atop a garage and if the garage is not included then there is a separate entry to it.

7 Tips on Real Estate

Inch your way in the world of real estate investment with the help of specialists.

Rental and Sales
You make money when you buy a property, not when you sell. If you pay too much for a property that you never have to recover as many times as you have had a better engine negotiations. The trick is to have a formula, such as not paying six to eight times the rent that you plan to make the first year. Some experts say the key is to make sure your rental income will cover costs. Anyway, sure there's enough cash reserve on the left for more surprises. Rents are not guaranteed. What happens when your tenant is more than you? It is better to have savings of at least eight months of payments to emergencies.

Get a partner
Real estate investments tend to require a huge amount of investment capital. Expert advice for an investment partner to help split the bill and risk. It need not be 50-50, but it does need someone to trust with your life, because you'll be trusted with your money.

Active or passive?
A point is not an asset unless it produces income. Anything that is a product liability costs. In other words, a person can buy a house think it is an asset. In fact, the house is a responsibility because the person would work to maintain the property and the home loan, plus interest. However, a home can be a form of long-term investment if you do the math right.

Learn from experts
What to buy, where to buy, and how to make a good investment all boils down to research. Talk to friends, real estate investors, financial advisers and family members. The final choice of your course, but talking to people and do your research online will help you make the best choices.

Savage Salvage
If you are in a situation of being lost, unless you see a recovery in the next 12 months, it is best to make your loss and review your investment strategy. If this is a home, spruce it up with a new coat of paint and arrange appointments with other buyers. An expert tip will arrange appointments with all interested parties at the same time, to generate interest and refine the results on all property has to offer.

Opportunity vs. Risk
The difference between opportunity and risk is to make an informed decision. Large companies conduct due diligence on a purchase and the same individuals. Run a check on the reputation of the sponsor, location in the long term, the proposed developments, improved infrastructure, legal issues and price levels. The only difference between amateurs and professionals is the amount of research.

All about mathematics
Real estate investment is not rocket science, but you must be able to do the math. Overstatement of revenue and expenditure underestimate May very well make a profit loss. Turnover should include your cash management, and funds generated by the property. Consider also that the asset and the leverage of funds you have already give you the profit margins higher. For example: you bought a property of U.S. $ 100, with 000 species. After a year, well appreciated by 10% and is now valued at USD110, 000. The sale of this house you earn 10% return on investment after 1 year. Otherwise, you can use the $ 100 U.S., 000 as a deposit of USD1 million home, where you can take a mortgage on the balance. After a year of 10% to assess the value, it is now worth USD1.1 million. Of course, you must take into account legal fees, laws, if they let you transfer the property in a short period of time.

U.S. mortgage applications fall to 7-month low

The volume of mortgage applications filed last week dropped a seasonally adjusted 18.9% from the week before, as refinancing activity plunged, the Mortgage Bankers Association reported Wednesday.

U.S. mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30 percent, data from an industry group showed on Wednesday.

The drop does not bode well for the hard-hit U.S. housing market, which has been showing some signs of stabilization, with sales rising and home price declines moderating in many regions of the country.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications USMGM=ECI, which includes both purchase and refinance loans, for the week ended June 26 decreased 18.9 percent to 444.8, the lowest reading since the week ended Nov. 21, 2008.

Kenneth Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley, said mortgage rates are just one factor driving potential borrowers.

"Rising unemployment, concerns about job security, potential buyers' inability to sell their existing homes and problems with appraisals coming in too low are all weighing on demand," he said.

"The government needs to take more aggressive action to bring mortgage rates back down to below 5 percent as that seems to be a key level for the market," he said.

Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 5.34 percent, down 0.10 percentage point from the previous week, but significantly higher than the all-time low of 4.61 percent set in the week ended March 27. The survey has been conducted weekly since 1990.

Mortgage rates remained above 5 percent for a fifth straight week, but were well below year-ago levels of 6.33 percent.

Thirty-year mortgage rates had mostly been on a downward trend since the Federal Reserve unveiled its plan to buy mortgage-backed debt in late November. But the Fed met resistance in the bond market in late May and early June.

Treasury yields, which act as a benchmark for mortgage rates, rose sharply during that period. Treasury yields, however, have come down recently, allowing rates to fall.

The MBA's seasonally adjusted purchase index USMGPI=ECI fell 4.5 percent to 267.7.

The four-week moving average of mortgage applications, which smooths the volatile weekly figures, was down 9.2 percent.

WEEKLY REFINANCING ACTIVITY PLUNGES

The Mortgage Bankers seasonally adjusted index of refinancing applications USMGR=ECI decreased 30.0 percent to 1,482.2, also the lowest level since the week ended Nov. 21, 2008.

Refinancings accounted for 46.4 percent of applications, down from 54.0 percent the previous week and significantly lower than the peak of 85.3 percent in the week ended Jan. 9

The U.S. housing market is in the worst downturn since the Great Depression and its impact has rippled through the recession-hit economy, as well as the rest of the world. Economists contend that the economy might not emerge from its slump unless the housing market stabilizes.

The shares adjustable-rate mortgage activity increased to 4.3 percent in the latest week, up from 4.1 percent the previous week.

Fixed 15-year mortgage rates averaged 4.81 percent, down from 4.93 percent the previous week. Rates on one-year ARMs decreased to 6.52 percent from 6.54 percent

Board of Realtors: New prez for tough times

When Kimberly Evans first tried her hand at real estate in 1985, it was in Texas, where, she says, “We had more foreclosures than new sales and mortgage rates were 18 percent.”

Perhaps that’s why she’s undaunted by the current economic climate. In fact, the Asheville Board of Realtor’s new president holds fast to her optimism and works hard to spread it around. “I’m excited to be leading [the board] during such a time,” says Evans, 43.

She exudes energy and confidence, qualities that made her a top earner in her rookie year, a co-owner of a large real-estate firm soon after moving to Asheville, and savvy enough to switch gears a few years ago by selling that company and getting into property management. “I wish I could say I saw the market drop coming,” Evans jokes as she explains the career move.

Of course, such energy sometimes meets resistance. When Evans first came to town, she pushed to get the Multiple Listing Service computerized and was also a supporter of making it more accessible to the public. While some real estate agents hesitated to “give away the data, and I caught a lot of flack for that,” she says, she thought there were potential benefits. “Even though all that data is out there, most people are still not buying directly from the Internet. They still need Realtors.” The Internet makes the legwork of property searches much easier for both agents and customers, she says.

But the Internet can’t change the current market. Evans acknowledges the challenges: “The market has slowed, and [home] values have dropped here, but not as far as [in] some areas.” Times are tough, and there may likely be a reduction in the number of real-estate agents working the market. It’s time, she argues, to adapt and prosper, whether you’re a Realtor or not.

“It’s a great time to buy, not just because home values have dropped, but because there’s a good selection of inventory and interest rates are low,” Evans continues. “My outlook is this: All real estate is local. Just because it’s raining in Oregon doesn’t mean it’s raining in Asheville.” She encourages her colleagues to focus on the job at hand, focus on the customers, and stick to the basics.

Evans adds that there’s a lot of assistance out there for homeowners in trouble. “This is a time when we need to have a little more compassion and a little more leniency,” she concludes.

Evans is working at adapting, too. One of the twists in today’s market is that more rental properties are available simply because some homeowners find they can’t sell, and renting is an income-producing option. The market for high-end rentals, in particular, has exploded. “It’s one of Asheville’s best-kept secrets,” she says.

Realty sector in death spiral, BSE Realty down 86% y-o-y

MUMBAI - The current economic problem has its roots in the vast expansion of debt across the globe over the last few years. Much of this debt is tied to residential real estate.

Despite the BSE Realty Index correcting 86 per cent year on year, experts are advising investors not to go bottom fishing in the real estate sector. Some experts feel that the sector is in a death spiral and given the future valuations, some stocks are expensive and need to correct further.

In the third quarter of FY 09 major players like DLF and Unitech reported dismal results. DLF saw its third quarter net profit decline to Rs 670.79 crore, less than one-third of the same in the year-ago period.

Infrastructure major Unitech said its profit after tax was down 94.71 percent to Rs 19.50 crore in the quarter ended Dec 31, 2008 as against Rs 3.69 billion in the year-ago period.

Industry analysts have always known homebuilders never earn enough money selling homes to pay for the capital that's needed to buy and hold the land they require. Through its entire history, the realty sector has been a consumer, not a producer, of capital.

Experts opine that the core issue in the real estate sector has shifted from 'affordability' to 'demand'. Job cuts and increasing insecurity and low business confidence have become key concerns. Studies reveal that during times of severe economic uncertainty, consumers postpone big ticket purchases.

As such, developers indicate that they do not expect demand to resurface in the near to medium term, even if real estate prices correct 20-25%, and mortgage rates decline 200-250 basis points.

Developers have been forced to cut prices for new and under construction projects by 30-45%. Until recently, such discounts were not publicly reported and were available only to large investors. In the last two months, several large reputed developers have issued public advertisements about discounts, hoping to stimulate demand and lower inventory.

“RBI has introduced measures such as priority sector lending status to low-value loans, restructuring of loans taken for commercial property, and reduction in excise duty on inputs like steel and cement. Banks' special treatment to real estate companies may result in long-term benefits for the sector but this relief could, however, be ephemeral in short term. If transactions fail to pick up, some of the debt-laden companies could find difficult to survive," said Jonathan Paul, senior analyst at Krug and Brodman Advisory.

Subsidized interest rate on housing loans of up to Rs 2 million is likely to improve buyer sentiment and help revive demand. However, as very few developers have offerings in the range of Rs 0.5-2 million/unit, the rate cut measure is likely to remain only a sentiment booster.

“We expect FY09-10 to be a period of consolidation, in which industry leaders would be differentiated from peers. We believe developers with staying power would utilize this consolidation phase to emerge stronger. Focus on companies with high visibility on monetization of assets over the next 3-5 years, low leverage and robust financials, and strong execution track record. However, avoid this sector from short-mid term view," said Sameer Sinha, fund manager at Spark Wealth Management.

Tuesday on BSE the Realty Index slumped 7.55 per cent. The major losers were DLF (-13%), India Bulls Real Estate (8.85%), Housing Development (6.15%) and India Bulls Real Estate (-6%).