Print button

May 2013     




$$$

Choosing the Right Home Owners Insurance for Your Situation

Buying a home is more than just walking into a house. Not only do you want to make sure that you have the right investments set in place, but you also want to make sure that you have the right things to protect you in case something happens. Having home owners insurance is an important part of investing in real estate and into moving into a home.

With most lenders, it is required that you have home owners insurance. This is because some of the property that you will own on the real estate home is also theirs. Most home owners insurance is chosen during the final closing of your home in order to protect all of your assets as well as pieces of property that belong in the home.

Home owners insurance will be divided into a variety of categories, all which will beneficial to different situations. The best way to decide on home owners insurance is to first add in how much you own and the value of the home. You will want to make sure that you are able to cover as much as possible and are able to get returned on everything that you are able to own.

Another factor to consider with home owners insurance is the type of coverage that is offered. Some companies will have different categories according to the types of things that you own and how this relates to what you will need replaced. After you have assessed the value of everything, you will also want to add in what you know you will want covered and which category of insurance this will put you into.

Home owners insurance is one of the ways that you can ensure that your real estate and property investments stay covered. If anything happens, you will want to be assured that you have lost little to nothing in the process.

Tip Top

What Pitfalls to Avoid and How to Avoid Them

If you don't want to have extra hassles when you are packing your boxes, then preventing some pitfalls along the way can help.

One of the major problems that several homeowners run into is having wrong or incomplete information. You don't want to get caught with the wrong loan, the wrong type of financing or payments that you can't afford.

A second pitfall to avoid happens when you are looking at the property. You want to make sure to not get too attached to an area or to approach the property with specific intentions.

With every part of real estate investments, you want to make sure that you do several things. First, investigate the terms and possibilities to you. Second, move logically into a real estate investment. Third, double check your information and your options.

Tip Bottom
 
Your money

Have a Home You Can Feel Safe In

Whether or not the world is getting more dangerous is debatable. However, the safety of your family should always be an issue of concern. Whether you've recently experienced a break in or are just anxious about leaving your children home alone, there are many things you can do to improve security around the house. While nothing is completely foolproof, making a few changes can go a long way in deterring would-be troublemakers and give you some peace of mind.

Trim hedges and shrubbery away from walkways, windows and doors so that the path is visible and no intruders can hide in the landscaping. Install motion detector lights that will flood the area with light upon your arrival or other movement.

Install a wide-angled peephole in your door so that your family can see who is at the door before you answer it. Pair this with a quality door (solid wood is the safest) on a good frame with a decent lock. Invest in door and window braces for other potential entry points in the house.

Also, if you are going away for a while, cancel the newspaper delivery and ask a trusted friend to pick up the mail. Don't tell strangers about your trip out of town, but do let your neighbors know so that they can keep an eye on your house.

Don't give thieves any incentives: when you buy new appliances or electronics, don't leave your boxes at the curb for all eyes to see. Break them down and recycle them.

Find a good spot to hide your valuables inside your house. Safes should be built in to a wall or other structure, well hidden and kept locked. It's also a good idea to list and photograph all your possessions as a record for your insurance company. In the event of a break in, this will help simplify your insurance claim.

Market

March Existing-Home Sales Slip Due to Limited Inventory, Prices Maintain Uptrend

Existing-home sales eased in March from inventory constraints, which continued to pressure home prices, according to the National Association of Realtors®.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 0.6 percent to a seasonally adjusted annual rate of 4.92 million in March from a downwardly revised 4.95 million in February, but remain 10.3 percent higher than the 4.46 million-unit pace in March 2012.

Lawrence Yun , NAR chief economist, said there is more demand than supply in the current market. "Buyer traffic is 25 percent above a year ago when we were already seeing notable gains in shopping activity," he said. "In the same timeframe housing inventories have trended much lower, which is continuing to pressure home prices. The good news is home construction is rising and low mortgage rates are continuing to keep affordability conditions at historically favorable levels. The bad news is that underwriting standards remain excessively tight, while renters are getting squeezed by higher rents."

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage increased to 3.57 percent in March from 3.53 percent in February; it was 3.95 percent in March 2012.

To read the rest of this article, visit here

topLine