Financial Service Info

U.S. home sales showed an annual increase for the first time in six months in January, although sales prices showed a significant decline over the same period.

January home sales were up 0.7 percent compared to January 2010, according to new survey figures from RE/MAX, although sales prices declined 4.6 percent over the same period. The price decline occurred despite a 5.6 percent drop in the inventory of homes for sale compared to one year ago, something that normally causes prices to rise.   “We’re very pleased that sales this January are higher than last January, and we’re hopeful that this indicates even higher sales this spring,” said RE/MAX CEO Margaret Kelly. “Although inventories have been steadily shrinking for months, an increase in foreclosure activity could reverse this trend and produce additional pressure on prices.”   January’s figures marked the first time that monthly home sales showed an annual improvement since last June, when sales fell off sharply following the expiration of the homebuyer tax credit.   The trend was Read all post…

Social media is arguably one of the greatest things to have ever happen to small businesses. In less than a decade of usage, it has managed to completely transform the way in which businesses are able to conduct their marketing activities.

In terms of what can be achieved with a great social media campaign, it puts even the smallest business on a level playing field with its larger competitors. A huge advertising budget of a multinational can be overshadowed quite easily by the simple power of a small business with a great idea.

Despite the compelling power of social media, many small businesses are simply unable to see all of the potential benefits that they could derive from it. This is a shame, because they are being left behind by big business once again.

The important thing to remember for any small business considering social media is that it cannot simply be used as a substitute for a business website.

Read all post…

With the current housing market, homes have gotten harder to sell. As a seller of a homes for sale, you will need to do more preparation for the sale before you list to ensure your home stands out amongst the competition.

Sellers of homes for sale must adjust their expectations. No longer does a home sell within a month of listing it on the market. Prices have dropped drastically, since the housing bubble has deflated, making it even more important than ever to present your homes for sale to its best advantage.

Professional Staging. Consider having your homes for sale professionally staged. I watched a show a few months ago, where a professional decorator not only restaged the interior of the home but also the second floor deck. Where the deck was once an uninviting, Spartan area with a couple of folding chairs, it became a warm, cozy and inviting retreat.

Read all post…

PATA

BANGKOK (eTN)- While PATA Board of Directors will meet from this coming Tuesday in Hawaii, PATA CEO Greg Duffell talked to Senior Editor Luc Citrinot about the deep changes that the Pacific Asia Travel Association experienced over the last two years and what will be the future after he leaves his position by the end of February.

How did run the selection of candidates to the post of CEO?
Greg Duffell- We had over 50 people who submitted their application, a significant number which showed that PATA and Asia tourism continue to generate a lot of interests. We narrow our choice to five people with interviews taking place with the likely candidates by early January. And we should announce soon the name of the candidate.

Do you predict a smoother transition than your arrival at the helm of PATA in 2008?
Duffell- I do expect a smoother transition. When I arrived in November 2008, I had very little knowledge about the way the association worked.

Read all post…

Denver-area residents’ assessment of their own financial security has risen to its highest level since December 2009, according to the latest bi-monthly survey commissioned by Country Financial.

The Country Financial Security Index survey, released Tuesday, shows a confidence level for the Denver area of 67.8, up from 66.4 in December 2010.

The higher the index number, the greater the level of confidence among those surveyed in their ability to save and pay debts.

The reading for February 2010 was 64.3, the lowest for Denver in the survey’s history.

Nationwide, the Financial Security Index stands at 64.9, up from 64.1 two months ago.

Among the survey’s findings for the Denver area:

• 50 percent of local residents surveyed said they set aside savings money in the latest month, up three percentage points from December 2010.

• 46 percent rated their overall level of financial security as positive, up 6 points from two months ago.

• 81 percent said they were confident in the ability to pay debts, unchanged from December.

• 87 percent are confident that their house, car and possessions are adequately insured, up 4 points from two months ago.

• 62 percent believe that their family would be able to live comfortably if they died or were disabled, up 3 points from December.

• 60 percent said they expect they will have enough money to enjoy a comfortable retirement, unchanged.

Nationally, “for three years, we’ve seen signs of a holiday financial hangover through a decrease in the Country Index,” Keith Brannan, Country Financial’s vice president of financial security plannin …

Denver-area residents’ assessment of their own financial security has risen to its highest level since December 2009, according to the latest bi-monthly survey commissioned by Country Financial.

The Country Financial Security Index survey, released Tuesday, shows a confidence level for the Denver area of 67.8, up from 66.4 in December 2010.

The higher the index number, the greater the level of confidence among those surveyed in their ability to save and pay debts.

The reading for February 2010 was 64.3, the lowest for Denver in the survey’s history.

Nationwide, the Financial Security Index stands at 64.9, up from 64.1 two months ago.

Among the survey’s findings for the Denver area:

• 50 percent of local residents surveyed said they set aside savings money in the latest month, up three percentage points from December 2010.

• 46 percent rated their overall level of financial security as positive, up 6 points from two months ago.

• 81 percent said they were confident in the ability to pay debts, unchanged from December.

• 87 percent are confident that their house, car and possessions are adequately insured, up 4 points from two months ago.

• 62 percent believe that their family would be able to live comfortably if they died or were disabled, up 3 points from December.

• 60 percent said they expect they will have enough money to enjoy a comfortable retirement, unchanged.

Nationally, “for three years, we’ve seen signs of a holiday financial hangover through a decrease in the Country Index,” Keith Brannan, Country Financial’s vice president of financial security planning, said in a statement.

This year, “Americans appear to be bucking this trend, perhaps because people spent within their means in late 2010,” he said.

The poll is compiled by Rasmussen Reports LLC, based on a national telephone survey of some 3,000 Americans, including 500 in the Denver area.

Country Financial is an insurance and investment firm based in Bloomington, Ill.

The BKBlog has posted an article about a recent Supreme Court case’s outcome that ruled in the favor of creditors.

The U.S. Supreme Court issued a creditor friendly decision in the case of Ransom v. Fia Card Services. At issues was the “ownership expense” deduction in the means test.

The means test is a calculation used to determine whether a debtor has enough “disposable income” to afford a Chapter 13 bankruptcy repayment plan.

In the Ransom case, the debtor (Jason Ransom) claimed a means test deduction for both operation of a vehicle ($338 per month) and for ownership ($471 per month). The problem – Mr. Ransom owned his vehicle free and clear.

The 8-1 decision held that if a debtor owns his vehicle then he can only claim a vehicle operation deduction, but not an ownership deduction. For Mr. Ransom, it means that for bankruptcy calculations it looks like he has an extra $471 that could be used to pay credit card companies in a Chapter 13 bankruptcy. <

Read all post…

The top 5 tips weekly post is always full of hints and tips for small, home & micro business owners.

1. Investing in a good backup solution can actually prevent you from ever losing data. Combine a USB drive with a cloud solution for best results.

2. Make sure that you monitor your data carefully. Watch out for error messages, they could be a symptom of something more severe.

3. Put a plan in place so that all employees know what to do and who to contact if they suspect data loss is occurring.

4. Try not to panic if your system is hit by a power surge or you knock a cup of coffee over it. Experts will likely be able to salvage most of your data for a fee.

5. Don’t attempt to try DIY data recovery unless you know what you are doing. Y

Read all post…

Get ready for mortgages to become more expensive – and stay that way.

The Obama administration has released its recommendations for reforming housing markets and overhauling the government’s role in backing mortgages. And virtually all of them involve pulling back the supports the government has traditionally provided to make home loans more affordable. Even the 30-year fixed-rate mortgage, prepayable without penalty, which generations of homebuyers have come to regard as a near-birthright, could eventually be priced out of reach of many homebuyers and play a significantly reduced role in the housing market.  

A gradual elimination of Fannie Mae and Freddie Mac

  The key part of the proposals, released today in a report to Congress, is for gradually phasing out Fannie Mae and Freddie Mac, the two government-charted lenders that back the majority of U.S. residential mortgages, but which suffered massive losses in the collapse of the subprime mortgage market. What Read all post…

Many people dream of owning a vacation home. But often concerns about maintaining it, renting it out in the off-season, or even justifying the expense when it’s only to be used for a couple weeks of the year keep them from making the dream a reality. Now condo hotels, an innovative type of vacation home ownership, provide a welcome solution to all these problems.

Also known as condotels or aparthotels, condo hotels have been growing in popularity as an approach to owning a luxurious second home.

Condo hotel buyers purchase an actual condominium unit in an upscale hotel or resort. The property functions as a full-service hotel, and owners have access to all facilities, amenities and services just like hotel guests.

They receive a deed to their unit and can use their vacation home when they want. When not in residence, they can place their unit into the hotel’s rental program and share in the revenue it generates. Lik

Read all post…