J.R 's Blog

Local Realtor - Now Offering FREE Real Estate & Classified Ads On My New CHICO INTERNET PAGES Community Portal

J.R Payne (Realty World - Abrhams & Associates) — Tue, 07 Apr 2009 12:32:26 -0500

Hello fellow Real Estate Agents & Mortgage Professionals,

As we all know, The times are changing and our businesss is definately taken a hit. I wanted to do something different and decided to start a Social Community Portal for Chico, Paradise, Magalia, & Oroville. I am giving away FREE Real Estate & Classified Ads on my new website to all fellow Realtors & Mortgage Professionals for the next 30 days. We also are offering A Featured Business Listing, Lead Section, & Banner Locations to Promote your Business.

Signing up is quick and free

Please visit http://www.chicoip.com to post your listings today.

Paradise, Ca. 95969 Community Profile Report

J.R Payne (Realty World - Abrhams & Associates) — Fri, 24 Aug 2007 20:24:29 -0500

Community Info

Housing	Paradise, CA 95969	United States
Median Home Age	33	27	[?]
Median Home Cost	$348,900.00	$217,200.00	[?]
House Appreciation	18.30%	9.80%	[?]
Homes Owned	66.60%	64.07%	[?]
Homes Rented	26.80%	21.45%	[?]
Housing Vacant	6.61%	14.48%	[?]

People	Paradise, CA 95969	United States
Population	27,996	293,655,392	[?]
Population Density	501	80	[?]
Population Change	1.40%	5.88%	[?]
Median Age	47.7	37.6	[?]
Household Size	2.2	2.6	[?]
Male Population	46.97%	48.65%	[?]
Female Population	53.03%	51.35%	[?]
Married Population	56.89%	58.89%	[?]
Single Population	43.11%	41.11%	[?]

Family	Paradise, CA 95969	United States
Married, w/ Children	14.89%	27.90%	[?]
Married, no Children	33.93%	31.04%	[?]
Single, w/ Children	7.90%	9.43%	[?]
Single, no Children	43.28%	30.05%	[?]
Divorced	13.53%	7.64%	[?]
Separated	3.71%	2.82%	[?]
Widowed	12.01%	7.42%	[?]
Now Married	53.18%	57.73%	[?]
Never Married	17.57%	24.39%	[?]

Economy	Paradise, CA 95969	United States
Unemployment Rate	6.00%	4.60%	[?]
Recent Job Growth	3.37%	1.40%	[?]
Future Job Growth	2.80%	11.90%	[?]
Sales Tax	7.25%	6.00%	[?]
Income Tax	6.00%	5.02%	[?]
Household Income	$37,847.00	$44,684.00	[?]
Income Per Capita	$22,916.00	$24,020.00	[?]

Cost of Living	Paradise, CA 95969	United States
Overall	130	100	[?]
Health	153	100	[?]

Crime	Paradise, CA 95969	United States
Violent Crime	2	3	[?]
Property Crime	3	3	[?]

Education	Paradise, CA 95969	United States
High School Graduates	85.75%	79.62%	[?]
2 Year Degree	7.69%	8.22%	[?]
4 Year Degree	12.68%	15.16%	[?]
Graduate Degree	6.72%	7.16%	[?]
School Expenditure	$4,370.00	$6,058.00	[?]
Pupil/Teacher Ratio	20.7	15.9	[?]
Students Per Librarian	3,601	907	[?]
Students Per Counselor	983	546	[?]

Health	Paradise, CA 95969	United States
Air Quality	33	48	[?]
Water Quality	68	55	[?]
Superfund Sites	30	71	[?]
Physicians Per Capita	188.0	169.7	[?]

Climate	Paradise, CA 95969	United States
Rainfall (in.)	9.3	38.6	[?]
Snowfall (in.)	26.9	24.5	[?]
Precipitation Days	88	112	[?]
Sunny Days	241	205	[?]
Average July High	103.9	86.9	[?]
Average January Low	42.2	21.7	[?]
Comfort Index	57	44	[?]
UV Index	4.9	4.3	[?]
Elevation (ft.)	1,750	1,058	[?]

Commute	Paradise, CA 95969	United States
Commute Time	24.1	27.4	[?]
Mass Transit	0.89%	2.00%	[?]
Carpool	13.60%	14.52%	[?]
Auto (alone)	78.06%	71.32%	[?]
Work at Home	4.67%	5.46%	[?]

J.R. Payne
Abrahms & Associates
615 Pearson Road
Paradise, CAÂ 95969
(530) 872-1899

My Marketing Plan

J.R Payne (Realty World - Abrhams & Associates) — Fri, 24 Aug 2007 20:21:44 -0500

Marketing Your Home
Not all homes are created equal and neither are all REALTORS®. What sets us apart is our attention to the highest level of performance for our clients. It's reported that over 70% of all first inquiries regarding real estate use the Internet. Therefore, we've placed critical importance on the use of both technology and fundamental applications to insure you the most satisfaction throughout the process. They are as follows:

Property Flyer - We prepare a professional marketing sales tool including graphics and highlights of your home to distribute to the brokerage community and potential buyers.
Multiple Listing Service (MLS) - Information about your home will be included in the Multiple Listing Service, a database of currently available properties accessible by real estate professionals.
Other Brokers/Agents - We cooperate with and invite other brokers and agents in the community to tour your home in order to find a buyer.
Relocation Connections - Prospects for your home also come from relocation services, corporations, executive search firms, and fellow associates who keep track of potential buyers and maintain relationships with former clients.
The Internet - With approximately 80% of today's consumers utilizing the Internet for real estate information, we employ a robust set of tools and resources to make your home available for preview.
- Our website
- Our broker's website
- IDX
- Email alert
- Spotlight property electronic brochure with specific domain name

We will provide you with periodic status reports including buyer reactions to your home, allowing us to continually evaluate and reassess our marketing strategy.

Step 1: Preparing the Home for Sale

Property Inspection - Before we list your home, we will inspect and identify improvements that could increase profit on the sale.
Staging - If requested, a professional decorator will stage your home so it can be presented in its best possible light.
Establishing Goals - Markets can fluctuate so it's important to establish your goals so that we can work hard to meet them.
Listing Price - Establishing a competitive listing price is critical to the success of the sale. We use the most advanced CMA tools to derive the right price.
Relocation - Prospects for your home also come from relocation services, corporations, executive search firms and fellow associates who keep track of potential buyers and maintain relationships with former clients.

Step 2: Promoting the Property

Digital photography - Once your home is ready to list, we will have professional quality digital photos taken.
Full-color property brochures - We prepare a professional marketing sales tool including graphics and highlights of your home to distribute to the brokerage community and potential buyers.
Full-color postcards of your home will be designed and distributed at showings, open houses, public venues, and through direct mail.
We will provide you with periodic status reports including buyer reactions to your home, allowing us to continually evaluate and reassess our marketing strategy.
The Internet - We employ the following set of tools to make your home available for preview.
- Our website
- Our broker's website
- IDX
- Email alert
- Spotlight property electronic brochure with specific domain name

Step 3: Technology Tools.

The Internet Data Exchange (IDX) is an electronic display of homes for sale listed in the MLS. Your home will appear in this Exchange.
Multiple Listing Service (MLS) - Information about your home will be included in the Multiple Listing Service, a database of currently available properties accessible by real estate professionals.
Our Website features an entire feed of listings for all viewers who come to this site to search for homes.
E-mail Updates - Our website also features an automated MLS search for clients who are seeking properties. They can initiate their search on our site and receive emails daily with listings that meet their criteria. Your home will be featured in that service.
Transaction Details - Our website has a password-protected area where all transaction details are logged for your viewing.

Step 4: Showing Your Home

Broker/Agent Open House - We will invite all local brokers and agents to view your home.
Public Open House - Following the agent/broker open house we will hold a public open house and present your home to the general public.
Marketing Kits - All materials regarding the promotion of your home i.e., flyers, brochures, business cards and media kits will be available on onsite.

Step 5: Expectations

All calls and email inquiries regarding your home are followed up immediately.
Access to your property will be secured by us though secure lockboxes and no one will gain admittance to your property without our permission.

Creativity, Activity and Longevity

J.R Payne (Realty World - Abrhams & Associates) — Mon, 23 Jul 2007 23:38:46 -0500

Creativity is what separates humans for all other species. Its seeds stem from thought with a gentle mixture of talent, inspiration, experience and desire. Creativity holds no boundaries. It comes in all shapes and regards a wealth of applications that include financial planning, painting, music, decorating, writing or inventing.

Today's seniors are generously advantaged by a great assortment of creative activities and outlets. They are encouraged to explore them as therapy for some of the challenges that come with adjustments to daily living that include a greater amount of leisure time and longer lives.

As creative expression distinguishes humans, it also provides us with an elixir for dealing with life issues. Whether it's engaging in sports, writing a novel or scrapbooking, creative endeavors keep seniors engaged in life, stimulate memories, while offering choice and control.

Creative involvement appears to have medicinal benefits for those who are challenged with physical or mental issues due to stroke, heart attack, dementia or other factors. For example, studies have shown that those with Alzheimer's open up and communicate well through collage work.

One of the leading proponents of the medicinal use of creative activity is Gene D. Cohen, MD, PhD. Director and Professor of Health-care Sciences and Professor of Psychiatry at the Center on Aging, Health & Humanities, George Washington University, Washington, D.C. He is also the author of The Creative Age: Awakening Human Potential in the Second Half of Life (Harper Collins).

Dr. Cohen is the lead researcher of a 25-year study on creativity and aging in more than 200 senior citizens. Regarding the relationship of creativity and health, Dr. Cohen says, "Expressing ourselves creatively can actually improve health, both mentally and physically. Creativity is a natural, vibrant force throughout our lives-a catalyst for growth, excitement and forging a meaningful legacy."

Dr. Cohen also makes some other key points regarding the importance of creativity to wellness. They are:

Creativity reinforces essential connections between brain cells, including those responsible for memory.
Creativity strengthens morale. It alters the way we respond to problems and sometimes allows us to transcend them. Keeping a fresh perspective makes us emotionally resilient.
Challenging the brain can relieve sleep and mood disorders.
Reading, writing and word games increase one's working vocabulary and help to fend off forgetfulness.
Capitalizing on creativity promotes a positive outlook and sense of well-being. That boosts the immune system, which fights disease.
Having an active, creative life makes it easier to face adversity-including the loss of a spouse.

(Cohen, Gene D., "Welcome to the Creative Age", Bottom Line/Tomorrow Vol.9, #8 (Aug.2001)

When addressing the longevity of seniors, we need to look at more than the immediate needs of food, shelter, finance and physical health. There is much more to a truly healthy, rounded and fulfilling life than this. These things can be meaningful to a person, especially towards the end of their life. If we remember this, we will be much more likely to have a happy ending to our story.

Long term Care Insurance

J.R Payne (Realty World - Abrhams & Associates) — Mon, 23 Jul 2007 23:37:09 -0500

What is Long-Term Care Insurance?

Long-Term Care insurance is a private insurance policy to help pay for some long-term medical and non-medical care. This includes assistance with activities of daily living, as well as paying for sudden, unexpected, large continuing expenses that would deplete or exhaust your financial resources. As Medicare generally does not pay for long-term care, this type of insurance policy may help provide coverage needed in the future. Some long-term care insurance policies offer tax benefits; these are called "Tax-Qualified Policies." Long-Term Care insurance policies are actually designed to and may be the only thing that keeps you out of a nursing home when you need care for an extended period of time. When you are unable to take care of yourself, you need to hire someone to do it.

Paying for Long-Term Care - The Medicare Misconception

Many people think Medicare covers Long-Term Care expenses, such as nursing homes, elderly care and home health services. However, Medicare only provides short-term benefits (a maximum of 100 days) for skilled care in a nursing home following a three-day hospital stay. Medicare pays only for part-time skilled home-health visits and nothing for 8-hour shifts at home. Most Long-Term Care is custodial and not skilled, so you can't count on Medicare to pay for it.

Medicaid pays for nursing home care only after you have spent your assets and become impoverished. It pays nothing for assisted living or home health care. Therefore, Long-Tem Care is an expense that needs to be paid for privately.

Why Do I Need Long-Term Care Insurance?

If you can't take care of yourself, there are plenty of resources from which to choose: home-health services, adult day-care centers, assisted-living facilities, or nursing homes. Finding the money to pay for such help however, presents a dilemma.

What If You Have an Accident or a Stroke?

The average cost of Long-Term Care today is $247 for a private room and $174 for a semi-private room, and the average stay is 2.7 years. That equates to an average of $63,418 per year. Long-Term Care can last for several months or years. The chances are that you will need Long-Term Care at some point in time.

Waiting Can Be a Costly Mistake.

Not everyone qualifies for Long-Term Care insurance. A change in your health can result in increased premiums by as much as 50% for the same protection prior to your health problem. It's possible that a change in your health could make you completely ineligible at any price. If you buy a policy at age 75, the premium can be more than double than if you had bought the policy at age 65.

Are There any Negative Aspects to Long-Term-Care?

Research indicates that for some people, long-term-care insurance can be risky and expensive. As with health insurance, you must keep paying to keep it in force. If premiums rise, you may have to drop the coverage, possibly losing everything that you've paid. The policy's benefits may cover only a portion of the total expense. Many policies are packed with catches that can keep you from collecting. Finally, there's no guarantee that long-term-care insurers, some of which have weak balance sheets, will be around 20, 30, or 40 years from now when you need them to pay. While Long-term-care insurance may not be the greatest deal, right now it's just about the only thing that's available.

Your Insurer May Not be Around for the Long Haul.

Some long-term-care insurers have shaky finances at best. If a company goes under, you could lose your coverage, and some of the money you paid, or face stiff premium increases if the business is bought by another insurer.

HOW TO CHOOSE

Use this established criteria to determine the worthwhile hedge against the costs of long-term care, if you can afford it. If you decide that you want a policy, follow these shopping guidelines.

Consider buying at around age 65
Look for a strong Insurer
Buy a flexible policy
Make sure the daily benefits increase along with the price of care
A four-year benefit plan should be sufficient. Nearly 90 percent of all people over age 65 who enter a nursing home stay fewer than five years. The average length of time for current residents is 2 1/2 years. If you're willing to play the odds, a four-year benefit may be a reasonable gamble. If you do require nursing-home care for a longer period, four years will give you and your family time to prepare for the financial demands of a longer stay.
Pick a 30-day elimination period. A policy with a 90-day period might cost 15 percent less a year than one with a 30-day period. But with inflation, a nursing home that currently costs $181 a day will cost $538 in 20 years, bringing the total for those 60 additional days to $32,280.

ADDITIONAL OPTIONS

You can pay to get some money back. If you have to cancel your plan, you can recoup money you invested by adding a non-forfeiture clause to your policy. That allows you to collect a daily benefit when you need long-term care based on the amount you paid in. But you can claim only as much as you paid in, and inflation won't be covered even if you opted for inflation protection. The non-forfeiture provision will likely add 30 percent to your premiums.

Your premiums may be partially deductible. So-called tax-qualified plans, which meet federal standards, allow you to deduct your annual premium up to a limit based on your age. But along with other medical expenses, the amount is deductible only to the extent that it exceeds the federal government's 7.5 percent threshold of adjusted gross income. You may be able to deduct only a small portion of the expense.

Hold any group plans to high standards. More than 5,000 employers, including the federal government, offer group long-term-care plans that may give employees a discount and allow them to pay premiums with pretax dollars, further lowering their cost. If your workplace plan doesn't offer the features we recommend, you would be better off buying on your own.

Check Out Partnership Plans.

In four states--California, Connecticut, Indiana, and New York--you can buy a "partnership" plan that protects some or all of your assets from being depleted. In California, Connecticut, and Indiana, you can get coverage equal to the amount of assets you want to shelter. If you want to protect $100,000, you buy a policy that comes close to paying out $100,000. If you become eligible for Medicaid, you can keep $100,000 of your assets above Medicaid's limit. In New York, you can buy a policy with three years of nursing-home coverage and six years of home-health care. You become eligible for Medicaid after exhausting your benefits, but without spending any more of your assets. Such policies protect assets, but you may not exceed Medicaid income limits. If you move out of state, you may keep the plan, but you lose the asset protection. On the plus side, most of these plans cover assisted-living care.

Purchasing a Second Home

J.R Payne (Realty World - Abrhams & Associates) — Mon, 23 Jul 2007 23:35:54 -0500

Picking The Right Property:
The trend today is to locate property and areas where the pursuit of an active recreational lifestyle is abundant and where the property can also be shared by and with children, many of whom are young adults and or young, married and with rowing families.

The critical lure to certain areas are driven by proximity of family and secondly by desired activities that rank in this descending order of needs:

Beach/Lake and or Water Sports
Boating
Hunting/Fishing
Golfing
Winter Recreation
Shopping
Exercising
Biking Hiking Horseback riding
Tennis

Purchasing a Second Home:
There's a growing trend among late baby boomers and young seniors who are experiencing empty nest to invest in second homes that serve as a getaway, an investment and as well as a possible new permanent residence down the road.

Making An Investment: For many Americans, investing means real estate. For many late age boomers and young seniors, this includes purchasing A second home. This could be:

Vacation getaway
An income property
A second residence

Today, these options are increasingly becoming one in the same as they provide numerous opportunities for the owners to reap a multitude of benefits over time.

With today's growing population of aging baby-boomers who are retiring with record levels of equity income, tax-free profits of up to a half million dollars from the sale of homes, poor performing stock investments, many homeowners aged 46 to 65 are seeking the security of reclusive retreats and viewing them as great investments as well as wise lifestyle choices.

You are not Alone.
The facts are:

Over half of all second-home owners consider their second home as a family retreat.
One in six second-home owners over 55 plan to make their second home their primary residence after retirement.

NOW IS A GREAT TIME TO BUY!
A great number of second home buyers do not move into the second home right away. They rent them for a number of years, drawing income, procuring tax benefits and building equity.

We can help you consider the benefits and understand the motivations behind purchasing second homes. For more information on Second Home Investments please contact us.

Purchasing a Second Home

J.R Payne (Realty World - Abrhams & Associates) — Mon, 23 Jul 2007 23:35:01 -0500

Beach/Lake and or Water Sports
Boating
Hunting/Fishing
Golfing
Winter Recreation
Shopping
Exercising
Biking Hiking Horseback riding
Tennis

Vacation getaway
An income property
A second residence

Over half of all second-home owners consider their second home as a family retreat.
One in six second-home owners over 55 plan to make their second home their primary residence after retirement.

Seniors and Real Estate

J.R Payne (Realty World - Abrhams & Associates) — Mon, 23 Jul 2007 23:33:09 -0500

Conventional and Internet surveys agree - the 57 and up population not only represents the largest segment of home ownership but are also the fastest growing age group using computers and the Internet. Your needs going forward require a specialized professional who can help you with answers to the following questions:

Are you facing an empty nest?
Is your home too large for your current lifestyle?
Are you thinking of downsizing?
Should you sell your home or keep it as an investment?
Should you purchase another home or consider alternatives?
Should you relocate?
Is living near your children a concern?
Would you like to learn more about what resources and activities are available that meet your priorities?
Do you need any assistance with estate or tax planning?

YOU ARE NOT ALONE

I serve a distinguished clientele whose needs are similar to yours. If you are reading this page perhaps you or someone you know is ready to get professional advice on making this part of life the best it can be. Below are some resources to help better understand your options. Should you require any personal consultation, please feel free to contact me.

Senior Living FAQ'S

J.R Payne (Realty World - Abrhams & Associates) — Mon, 23 Jul 2007 23:31:29 -0500

I'm Looking to Start a New Chapter in my Life. What Should I be Doing?
To begin, you must determine what your needs are. This would include such things as:

Have you just retired?
Are you divorced or widowed?
Do you currently own a home?
Do you want to sell the home?
What type of new living situation are you considering?
Do you have children?
Are you active?
Do you require any medical attention?

How Can I Prepare My Safety Net From a Position of Security?
The truth is none of us can predict our personal future or that of a loved one. Early planning provides us ways to protect our property and maintain our well-being. It's better to prepare for your future from a position of health and security than to wait for a crisis and make decisions in grief or haste.

What Issues Should I be Most Concerned With?
There are many. A partial list includes:

Health
Be aware of your overall health, your problem areas, and your future risks. Take all necessary precautions, including physical and mental workout as well as diet. Secure a good physician and hospital that you trust with your personal health. Your physician will evaluate your diet and exercise needs as well as other influences on your health. It is never too late to begin an exercise program or to give up bad habits. Working with your trusted specialists can add years of active living.

Finance
Do what you can to become educated on all matters concerning your finances. Some things to consider include:

Current assets
Future assets
Benefits
Various insurance coverages.

You cannot rely on Medicare to cover all payments, despite the revisions made in the area of health care coverage. The cost of nursing homes, long term care, assisted living or private nursing care must be considered and planned for. Opportunities available through retirement plans, insurance riders, and state programs should be obtained and studied with a trusted financial advisor.

Legal issues
These should be attended to when you are of sound mind and in full control of your possessions. Protecting your personal property and finances is imperative so that they are available for your care when needed. When you are not competent due to ill health, you may not be able to initiate the legal documents necessary to allow a friend or family member to handle your affairs. Now is the time to explore who will have your power of attorney to execute decisions on your behalf when you are incapable of doing so. You should also consider the implications of a living will.

Housing
Determine what housing alternatives would be acceptable and available to you should your independence be threatened by illness, disability, or loss of income. Visit locations in your community and make your plans known to your family. Safety, security, cost of upkeep, accessibility, types of residents who share the facility, and even geographic location are important considerations. Assuming that someone else will make a decision to your liking when the time comes is unfair to that "someone", and risky to your future peace of mind. Being informed about deposits, waiting lists, nursing standards and eligibility requirements will lead to a good feeling of control over difficult decisions.

Activities and Lifestyle
As studies have shown, one of the secrets to longevity and health is a peace of mind found through renewed or continued interest in the world and its activities. Whatever your passions or hobbies, seek out furthering your education, get involved in artistic endeavors, correspond with a pen pal, or start a new business.

Support Systems
This is a general term for surrounding yourself with friends, relatives, and resource persons that will serve to inspire you, keep you vital, entertain you, and who will be available when help is needed. This is an area often neglected by seniors, especially after the passing of a spouse. Making plans for your future in later years deserves the same attention, excitement and positive outlook you gave to choosing a college, planning for children, and your career. A safety net of information about health, finances and legalities while continuing to develop personal interests and friendships will support and sustain you through times of difficult decision making.

What are the Different Types of Living Facilities Available for Seniors?
Facilities are organized into the following categories:

Independent Living
Nursing Homes
Continuing Care Retirement Communities
Adult Active Communities
Alzheimer's Care
Assisted Living

Independent Living
Often referred to as Retirement Communities, Congregate Living or Senior Apartments, this is a residential living setting for elderly and senior adults that may or may not provide hospitality or supportive services. Under this living arrangement, the senior adult leads an independent lifestyle that requires minimal or no extra assistance but offers the security and conveniences of community living. Independent living also includes rental assisted or market rate apartments or cottages where residents usually have complete choice in whether to participate in a facility's services or programs.

Some independent communities offer organized social and recreational programs as a part of everyday activities (Congregate Living or Retirement Communities), while others provide housing with only a minimal amount of amenities or services (Senior Apartments).

Cost/Payment
Prices for units in these communities generally depend upon local market conditions. Most communities that provide services are market rate, but some subsidized senior apartments cater to seniors with limited incomes. Private Funds are most often used, although some senior apartments are subsidized and accept Section 8 vouchers. Medicare and Medicaid do not cover payment since no health care is provided.

Care
Since independent living communities are independent, health care is not provided as part of the fees. However, many communities will allow you to pay for a home health aide or nurse to come into your apartment to assist you with medicines and personal care.

Nursing Homes
These facilities are licensed and regulated by the State Departments of Public Health and are individually certified by the State for Medicare and Medicaid. They are available to seniors who do not require acute hospitalization but do need 24-hour skilled care. Some of what is provided includes:

Regular medical supervision
Rehabilitation therapy
Personal care
Personal protection
Assistance for most or all daily living activities such as bathing, dressing and toileting
Regular medical supervision and rehabilitation therapy are mandated to be available, and nursing homes are eligible to participate in the Medicaid program. These facilities are State Licensed.

The Nursing Home's medical staff sets them apart from other types of senior housing as care is provided by registered nurses, licensed practical nurses, and nurses aides at all hours of the day. Facilities include:

Trained medical staff
Medically planned meals
Professional service staff-activity director
Social workers
Furnished rooms with housekeeping services
Physician and physician services (on call)
Physical, respiratory, and speech therapists
Medications
Personal care items
Laundry service

Depending on the facility, some of these services may have extra charges associated with them.
Questions to Consider
When selecting a nursing home, ask the following questions of the administrator or admissions coordinator:

What levels of care do they offer?
Do they accept Medicare or Medicaid?
Are there any restrictions on the type of patients they admit?
What is provided in the basic daily rate?
What services cost extra?
Is there a volunteer program?
Is there an adequate staff?
How long do nurse call lights stay on?
Do the patients look clean and are they dressed in clean clothes?
Are staff members kind and responsive when they talk to residents?
Is the food good? Ask a resident how it tastes. See if it looks good and if it is served hot.
Do the patients seem to get enough to eat? Are they offered second servings, diet permitting?
Does the home serve snacks?
Is the dining room clean and well furnished?
Are patients assisted with eating when required?
Is there an activity program?
Is there a full-time activity director?
Is a list of activities posted?
Is there something for patients to do who are confined to their rooms?
Are there many patients sitting around with nothing to do?
Does the facility have community TV with good reception?
Is there a volunteer program?

Cost/Payment
Nursing Home facilities generally charge a basic daily or monthly fee. In most cases, however, residents and or their families will have purchased long-term care insurance in anticipation of the cost or seek alternative forms of financing. These facilities do accept a variety of Medicare, Medicaid, private insurance carriers, and private funds.

Care
There are three care programs. They are:

Basic Care - These are services required to maintain a resident's activities of daily living. Basic Care includes personal care, supervision and safety. A nurse aide, practical nurse or a family member can provide this care.
Skilled Care - This is the level of care which requires the regular services of a registered nurse for treatments and procedures. Skilled care also includes services provided by specially trained professionals, such as physical and respiratory therapists.
Sub-Acute - This is comprehensive inpatient care designed for someone who has had an acute illness, injury, or chronic illness. Sub-acute care is generally more intensive than traditional nursing facility care and less than acute care, requiring frequent (daily to weekly) recurrent patient assessment and review.

Continuing Care Retirement Communities (CCRCs)
Generally, CCRCs are communities which provide several levels of continuum of care for elderly persons. This continuum of care is sometimes referred to as the levels of care and may include the following:

Independent Living - Residents live independently in their daily activities in their independent living units. Some services are generally provided to these residents such as housekeeping, meals and laundry service.
Assisted Living - Residents need some assistance with the activities of daily living such as bathing, dressing, eating or taking medications.
Skilled Nursing Care - Residents generally require round-the-clock nursing service in a nursing facility.

CCRCs are different from other housing and care facilities for seniors because it usually provides a written agreement or long-term contract between the resident (frequently lasting the term of the resident's lifetime) and the community which offers a continuum of housing, services and health care system, commonly all on one campus or site.
Questions to Consider
If you are thinking about a CCRC, the following are some questions you might want answered:

Who owns the CCRC?
Are the owners financially stable?
What are the CCRCs long term plans?
Will the CCRC be around to deliver services as long as you need them?
Who manages the CCRC?
How long have they been managing it?
Are they likely to continue?
What is the turnover rate among the staff with whom you will be interacting on a daily basis?
If the CCRC is a condominium, individual housing unit or a co-op, are there any restrictions on selling it?
Is there a waiting list? If so, how long do they estimate it will take for you to be admitted?
What services are you getting for your monthly fee?
Are more services available if you need them? At what cost?
Is transportation available? At what cost?
How often and for what reasons can the monthly rate increase?
Is the increase predictable and is it tied to something like the consumer price index?
Is there a basic entry fee? How much is it and how long do you have to pay it? Is the entrance fee refundable and under what circumstances?
How much care will you get for your monthly fee?
What care is available and who chooses the care provider, you or the CCRC?
What care is available at additional cost and at what cost?
Will it cost extra to use your own doctor?
What happens if you can no longer afford to stay in the CCRC?
Are they certified for Medicare and Medicaid?
How are medical emergencies handled?
Is a hospital close by and what services does it offer?
Will your cost rise if you need assistance with daily living or you need to move to assisted living or skilled nursing care?
What if you are a couple and only one of you moves?
What happens if you get Alzheimer's disease?
Can the CCRC provide care for you on the premises?
If not, where can you obtain the care?
Who pays for all of this? If it's you, how much will it cost?
Is there anything that gives the CCRC the right to ask you to leave?
If so, what is it, and what happens to the money you paid as an entry fee?
There are always rules for residents. Can you live happily with them?
Can the CCRC handle your dietary needs and your tastes in food?

CCRCs offer a variety of residential services, including the following:

A maintained apartment, townhouse, or other unit
Cleaning and laundry service
Meals in common dining areas (number of meals per day may vary)
Grounds maintenance
Security
Social, recreational, and cultural programs
Health care services
Care is covered for contracted services
Personal care and help with daily activities
Nursing care
Rehabilitative care
Respite & hospice care
Alzheimer's & special care clean, furnished rooms

Cost/Payment.
The agreements or contracts used by CCRCs differ, but are generally based on the health care provided. The three most common types of health care coverage in the CCRC agreement are listed below.

Extensive agreements - These include housing, residential services and amenities, and unlimited, specific health related services with little or no substantial increase in periodic (monthly) payments
Modified agreements - These include housing, residential services and amenities, and a specific number of long term nursing care days with no substantial increase in periodic (monthly) payments. After you have used your allocation of nursing care, you are then charged the daily rate for each additional day
Fee-for-service agreements - These include housing, residential services and amenities for the fees stated in your agreement. You also pay for any health related services as you use them, at the current rate, either daily or monthly.

The three general types of payment or fee arrangements are:

Entry fee and monthly fee
The entry fee is a one-time, up-front fee that is combined with monthly fees to cover the living unit, services and care items covered in your resident agreement. CCRCs may charge an entrance fee that depends on the individual CCRC. The entrance fees charged can be minimal to several hundred thousand dollars. This is the most common type of fee arrangement offered. The entry fee may or may not be refundable. If it is refundable, it will be under certain conditions as specified in the mandatory disclosure statement
Monthly-fee-only or rental
There is no lump sum entry fee. The cost of your living unit, services and care are covered in your monthly fee payment. Sometimes, however, there is a small up-front fee or deposit charged
Ownership or equity (condominium, cooperative or membership).
These types of CCRC agreements involve the actual purchase of real estate and/or a membership. The purchase of the real estate can be an expensive undertaking, especially if a large down payment is required. Additionally, there can be a mortgage associated with the transaction. The service and health care package is generally separate from the real estate transaction and is covered through monthly fees or assessments.

Services
Monthly fees generally cover the following:

Meals (numbers may vary)
Scheduled transportation
Housekeeping services
Unit maintenance
Laundry
Health monitoring services
Some utilities
Organized social activities
Emergency call monitoring
Security

Active Adult Communities
The terms "Active Adult", "Senior" or Resort Communities, refer to rental communities where you must be 55 years or older and sometimes 62 years or older to live. These options are designed specifically to attract "age qualified" retired persons and those nearing retirement age who wish to get a start on owning a place where they will eventually retire and who desire the maintenance-free lifestyle. They offer an independent lifestyle in addition to social and recreational activities with older adults.

Services
These communities may offer facilities and amenities such as:

Golf
Tennis
Views
Walking and biking trails
A swimming pool
Exercise rooms and a variety of clubs and interest groups.
Many are gated communities that offer a high level of security and some have health care facilities on site
Classes such as art, dancing, woodworking, ceramics, chorus, yoga, etc.
Many will have a clubhouse or country club with dining facilities, and depending on location, a marina and beach.
Residents may live in individual single-family homes, condominiums, town houses or suites in high rise towers.

Alzheimer's Care
At some point, the needs of the Alzheimer's patient may be too great to continue home care or prior care in an Assisted Living Facility. Transferring to an Alzheimer Care Facility presents the patient with a treatment center whose focus is geared toward supervision. These facilities are part of a new trend to provide specialized care for those with Alzheimer's. Some of what differentiates these facilities from Nursing Homes or Assisted Living Facilities are elements like design features within the facility that assist with the problems associated with this disease such as: color-coded hallways, visual cues, and secure wandering paths for additional security.

Questions to Consider

Inquire about the facilities specialties - This should include information about dementia training (both past and on-going) for employees, specialized activities and a calm environment.
Inspection Report - Request to see the most recent facility inspection report. This document is public information, must be posted in a visible area, and highlights the kind of care provided.
Staff - Inquire about the size of the staff and what their availability is throughout the days, evenings, nights and weekends. This will help determine how much individual attention your family member will receive.
Determining your individual needs - Inquire about whether the facility offers a cognitive assessment as part of the screening. Such an assessment helps assure the family and the facility that the residence is capable of meeting the individualized needs of the resident.
Security - This pertains to the facility's ability to safeguard potential wandering of their patients.
Long Term Care - Learn about the staff's ability to care for your loved one as the disease progresses. Not all facilities provide care throughout the progression of the disease.
Learn about your families involvement - Identify the facility's plans for maintaining and involving family in the care, support, and problem-solving of the patient

Care/Facility
Similar to Assisted Living communities, most provide assistance with dressing, grooming, bathing, and other daily activities. Assistance with medications differs according to state regulations. Meals, laundry and housekeeping are usually provided within private and semi-private rooms in a residential type setting.

Assisted Living Facility (ALFs)
Assisted Living Facilities are privately owned facilities which provide room, board and limited personal services (such as help with bathing and dressing) as well as access to available community services. ALFs can range in size from a few residents to a facility housing as many as several hundred older adults. ALFs also vary considerably in monthly rent, types of services offered, and physical amenities. Some ALFs accept certain low-income adults who are certified eligible for state-supported assistance as determined by the Department of Children and Families. ALFs usually are appropriate for persons in the early to middle stages of Alzheimer's disease.

Services
ALFs will generally provide a range of services that promote resident quality of life and independence, including:

Personal care services (help with eating, bathing, dressing, toileting, etc.)
Various health care services
Social services
Supervision of persons with cognitive disabilities
Social and religious activities
Exercise and educational activities
Arrangements for transportation
Laundry and linen service
24-hour supervision
Three meals a day plus snacks in a group dining room
Housekeeping and maintenance.

Questions to consider
If you decide that assisted living is the right solution, consider the following when evaluating the assisted living choices in your area:

Is the management experienced?
Do they have genuine concern and respect for the residents?
Are the residents and families happy and satisfied?
Is staff friendly and caring?
What is the staff to resident ratio?
Is the community clean and comfortable?
Is this a place children would like to visit?
Are meals appealing and well balanced?
What health and wellness services are available?
Is the location convenient to friends and family?
What activities are planned for residents?
Will the prospective residents like these activities?
Will the prospective resident enjoy the daily life as compared to the other options?
Do services and quality of living meet your standards?
Is the value comparable to cost?
What are the residency criteria?
Considering all...will assisted living improve the quality of life for a resident?

Cost/Payment
While costs vary across the nation, assisted living generally costs less than home health services or nursing home care. The following factors should be considered:

Types of services
Size of accommodation
Location of community, etc.

Most assisted living residences charge monthly rates and do not usually have an entrance fee. Many also have daily rates for short-term stays (respite care).

What should I Know Before Choosing a Senior Housing Facility?
Perform a thorough review of the services, operations and finances of the establishment, including a review of their audited financial statements.

Consult an attorney and/or a financial advisor to determine if the establishment is appropriate for your lifestyle and financial situation.

Spend as much time as you can visiting the establishment and try to participate fully in its activities.

Compare Establishments. Do as much research as possible. Make sure that whatever place you choose, your choice is right for you.

Interview residents and staff. Objectively evaluate the services and amenities based on your lifestyle and your condition.

Share the details with someone you know and trust. They might be able to be more objective than you and assist in your evaluation.

What Should I Know About Private Insurance Policies?
Some insurance companies offer private insurance policies specifically for long-term nursing home care. These policies vary widely in coverage and cost, and it is important to understand precisely what kind of policy you are purchasing.

Make sure the policy being considered does not duplicate skilled nursing facility coverage provided by any coordinated care plan such as Medicare or Medicaid or other coverage already received. Check for any prerequisites required before the company will pay benefits. For example, ask if the company requires that a patient have prior hospitalization before any benefits are paid out. Some diseases such as arthritis-related problems and Alzheimer's do not require hospitalization before the need for nursing care arises.

If possible, seek an insurance policy that pays benefits immediately upon entry into a nursing care facility. Many insurance policies, which are purchased prior to the need for nursing care, require a waiting period after entry into a nursing care facility before payments are made. It is highly unlikely that nursing care insurance can be purchased after a person has entered a nursing care facility.

Another private insurance policy, Medigap supplemental insurance, is designed to close the gap between medical costs and amounts paid by Medicare. However, both Medicare and Medigap are primarily designed for short term, acute care and, consequently, are unlikely to meet the long-term needs of nursing care residents

Home Inspections

J.R Payne (Realty World - Abrhams & Associates) — Mon, 23 Jul 2007 23:29:52 -0500

What Is A Home Inspection?
A home inspection is a thorough and systematic evaluation of the condition of a residential property. It is a complete physical exam of the general integrity, functionality, and overall safety of a home and its various components. The purpose of this process is to ensure that home buyers know exactly what is being purchased, prior to completing the transaction.

In the course of a home inspection, the inspector will evaluate the foundation, framing, roofing, site drainage, attic, plumbing, heating, electrical system, fireplaces, chimneys, pavement, fences, stairs, decks, patios, doors, windows, walls, ceilings, floors, built-in appliances, and numerous other fixtures and components.

In all homes, even brand new ones, some building defects will inevitably be discovered during the inspection. All pertinent findings will be detailed in a written report for the buyer's reference and review, and the inspector will make a complete verbal presentation of these conditions for those who attend the inspection.

This information enables a home buyer to make educated decisions about a home purchase: whether to complete the transaction, whether to ask the seller to make repairs, or whether to buy the property as is. Buyers can also determine how much repair and renovation will be needed after taking possession, which problems are of major concern, which ones are minor, and what conditions compromise the safety of the premises.

A thorough inspection enables a home buyer to avoid costly surprises after the close of escrow. It is an indispensable component of a well-planned purchase.

How To Choose A Home Inspector
Home inspectors are not created equal. As with any profession, some practitioners inevitably outshine others. To aid in choosing a qualified home inspector, interview each prospect, using the following criteria:
1) Professional Affiliation: In most states, the only home inspector standards are those enacted by professional associations such as the American Society of Home Inspectors (ASHI), the National Association of Home Inspectors (NAHI), and similar state organizations. Membership requires adherence to strict standards of practice and participation in ongoing education. When you choose a home inspector, specify membership in one of these recognized guilds. And beware of those who claim adherence to these standards without being members.

2) Inspection Experience: Home inspectors are often perceived as general contractors who happen to inspect homes. This view underlies an essential misunderstanding of the home inspection process. Although building knowledge is essential to a home inspector, construction itself has little or no relation to the skills of forensic investigation. A home inspector is primarily a property detective - someone who observes and ascertains defects. In as much as a traffic patrolman is not a crime detective, home inspectors should be viewed as distinct from other contracting professionals. The average apprenticeship for a home inspector is approximately 500-1000 inspections. For contractors who disagree, I propose the House Detective Challenge: Call the nearest professional home inspector with at least three years of full time field experience, and conduct separate inspections of the same building. Then compare findings. That's where the consumer protection difference becomes apparent.

3) Errors & Omissions Insurance: A critical aspect of professional accountability is insurance for a faulty inspection. Undiscovered defects can range from minor maintenance problems to structural failure; from leaking faucets to major fire hazards. Inspectors who take their business seriously carry insurance for these untimely mistakes. Note: There are two types of E&O insurance. The best of these is a 'per occurrence' policy, because coverage remains in effect, even after the inspector goes out of business. The other type is called 'claims made.' This can be effective on the date of inspection but invalid when it's time to file a claim.

4) Building Code Certification: The primary focus of a home inspection is not code compliance. Nevertheless, property defects often have their basis in code-related standards. To ensure inspector competence in this area of knowledge, seek someone with building code certification. This is required for municipal building inspectors in most areas of the North America.

5) Ask for a Sample Report: The proof is in the product: So request a copy of a previous report. The best format should be not only detailed and comprehensive, but easily interpreted, making a clear distinction between defective building conditions and 'boiler plate' verbiage. Some reports are so encumbered with maintenance recommendations and liability disclaimers, that pertinent information about the property is obscured. A quality report lets defect disclosure stand out distinctly, in contrast with less pertinent data.

6) Let the Choice Be Yours: When choosing a home inspector, don't rely on others. The final selection should be your own. New and inexperienced inspectors often obtain professional recommendations, regardless of competence or lack thereof. You want the most meticulous, detailed inspector available -- the one who will save you from costly surprises after the close of escrow. The best inspectors are often labeled as 'Deal Killers' or 'Deal Breakers.' Someone with this reputation is likely to provide comprehensive consumer protection.

7) Avoid Price Shopping: Inspection fees vary widely. The price of a quality inspection is typically between $250 and $300 for an average size home. Lower fees should be regarded with suspicion, as they often identify those who are new to the business or who spend insufficient time performing the inspection. A home is the most expensive commodity you are likely to purchase in a lifetime. One defect missed by your inspector could cost 100 times what you save with a bargain inspection. The best method of price shopping is to shop for quality.

What's The Big Deal About Home Inspection?
Why does my Real Estate Agent harp on getting a home inspection? Do you think this is a needless expense? Think again.

Since the late 1980's, disclosure of property defects has become the primary focus of most residential real estate transactions after first emerging as a service during the mid-1970's. Gaining gradual recognition over the past decades, home inspectors attained prominent acceptance as a distinct and essential profession providing the service of inspecting and disclosing property defects.

To those who approach real estate with the old 'as-is' mind-set, the advantages of home inspection are not immediately apparent. But make no mistake; a thorough inspection can shield you from costly discoveries after the close of escrow. It's one of the best consumer protection services available.

Every home, regardless of age or quality, harbors a small, medium, or large list of defective conditions. Some are obvious, while others are only apparent to those who know how and where to look. When you hire an experienced, qualified home inspector, there is no question as to whether unknown defects will be found; but rather what, where, and how serious, dangerous, or expensive the defects will turn out to be.
Most homebuyers spend fifteen minutes to an hour walking through a home prior to making an offer. At best, this provides a general impression of the overall physical condition. But what about foundations and structural framing, attic construction, insulation, ventilation, and roof conditions? These are just a few of the hundreds of considerations included in a home inspection.

Above all, let's not forget building safety. An inspector can alert you to red flag issues involving the electrical wiring and fixtures, fireplaces and chimneys, gas fixtures such as furnaces, water heaters, cook tops, and ovens, railings at staircases and decks, tempered safety glass in required locations, and automatic reverse of garage door openers.

Furthermore, an inspector can forewarn you of problems involving faulty ground drainage, defective plumbing, substandard construction, firewall compliance, building settlement, leakage, general deterioration, inoperative fixtures, and so much more.

Clearly, your agent understands this process and the importance of equipping you to make an informed purchase decision. Be thankful that your agent is working to protect your financial interests. With a detailed home inspection, you will know what you are buying, before you buy it. And that could save you thousands of dollars and years of regret.

Do New Homes Need Inspection?
The belief that a new home is flawless, simply because it is new, is an unfortunate piece of popular mythology. Since when is a brand new product exempt from possible defects? We often hear of brand new cars recalled by Detroit; experienced sailors can tell you of brand new boats that have leaked; and even brand new parachutes have been known to fail when the ripcord was pulled. As for new homes, anyone who has worked in building construction knows that contractors and trades people, as typical members of the human family, are prone to occasional, or not-so-occasional, errors and oversights.

Inspectors polled from across the US on new home defects unanimously agree that most, if not all, new homes are not totally free of defects. None have ever discovered a perfect specimen, regardless of the quality of construction or the integrity of the builder.

Even when the builder warrants the work for one full year, such guaranties are of no benefit unless inherent defects are discovered. Unfortunately, many types of building problems and safety violations do not become apparent for many years. A faulty wiring condition might not be revealed until it damages your computer or causes a fire. Other defects might only be discovered when you finally resell the property, and the buyer decides to hire a home inspector.

The list of faulty conditions that have been found in new homes is extensive and includes such items as, defective roof installation, improper fireplace construction, errors in electrical wiring, excessive water pressure, fire safety violations, unsafe venting of heater exhaust, leaking drains, faulty site drainage, hot water piping connected to the toilet (can you imagine a steaming bowl?), etc, etc. In one infamous case, a new home was built and approved on a concrete slab without a perimeter foundation. Obviously, we're not likely to find a major list like this in any particular new home, but every new structure contains a few undisclosed defects, sometimes minor, sometimes not. New homes are often presumed to be exempt from human error, and consequently many close escrow without the benefit of a final examination. For buyers preparing to make such a large investment, assumptions about quality of workmanship can be financially fatal.

Your best advice is to take nothing for granted. The cost of an inspection is incidental when compared to the price of a new home. A qualified home inspector will most assuredly find items that need repair. Better to discover them now than after the close of escrow.

Inspection Report Not A Repair List For Seller
So, you've hired a home inspector to make a complete repair list for the home you're buying. The inspector did a thorough job and disclosed some serious problems with the property. Maybe it was in the plumbing, or the electric wiring. Perhaps it was the roof. But the seller refuses to fix anything. Is the seller responsible to make these repairs? Were you under the impression that the sellers must repair the problems discovered by home inspectors?

This can be all very disillusioning. This is a common misunderstanding about the purpose of a home inspection. People often view an inspection report as a mandatory repair list for the seller. The fact is sellers are not required to produce a flawless house. They have no such obligation by law or by contract.

With a termite report, requirements are different: Real estate contracts usually obligate a seller to repair conditions classified as 'section one' in the termite inspector. Section one includes instances of active infestation -- termites, fungus, dryrot, etc. Other faulty conditions, such as earth to wood contact, generally do not require action on the part of the seller, unless infestation is found.

With a home inspection, most repairs are subject to negotiation between the parties of a sale. Typically, buyers will request that various conditions be repaired before the close of escrow, and sellers will usually acquiesce to some of these demands. But with most building defects, sellers make repairs as a matter of choice, not obligation; to foster good will or to facilitate consummation of the sale. There are, of course, those few rigid sellers who will flatly refuse to fix anything, even at the risk of losing the sale. Fortunately, this response is the exception, rather than the rule.

Sellers maintain the legal right to refuse repair demands, except where requirements are set forth by state law, local ordinance, or the real estate purchase contract. Legal obligations include earthquake straps for water heaters and smoke detectors in specified locations. Contracts usually stipulate that fixtures be in working condition at the close of escrow, that windows not be broken, and that there be no existing leaks in the roof or plumbing.

Before you make any demands of the seller, try to evaluate the inspection report with an eye toward problems of greatest significance. Look for conditions which compromise health and safety or involve active leakage. Most sellers will address problems affecting sensitive areas such as the roof, fireplace, gas burning fixtures, or electrical wiring.

Routine maintenance items warrant a lesser degree of concern and should not be pressed upon the seller. If the house is not brand new, it is unreasonable to boldly insist upon correction of all defects. Such demands can alienate the seller and kill the sale. Your willingness to accept minor problems may persuade a seller to correct conditions of greater substance.

The purpose of a home inspection is not to corner the seller with a repair list. The primary objective is to know what you are buying before you buy it. All homes have defects; it's not possible to acquire one that is perfect. What you want is a working knowledge of significant defects before you close escrow. As the old sea captain once told me: 'It doesn't matter if your boat has a leak, as long as you know it's leaking.

Home Inspection Limited To What Is Visible
ASHI (The American Society of Home Inspectors) has established accepted standards of practice and codes of ethics, which define the general scope of a home inspection. These guidelines have come to be the acknowledged standards by which qualified home inspectors perform their services.

According to these criteria, a home inspection is limited to conditions that are visually discernible. Specifically excluded from an inspection are conditions which are concealed from view, such as items contained within walls, ceilings, and floors, or which are buried beneath the ground. According to ASHI standards, inspectors are not required to perform dismantling of construction or excavation of ground surfaces to discover conditions that are not normally visible.

For clarification of the standards by which your inspector performed his services, I recommend that you review the inspection report. Most inspectors are careful to define the scope and limitations of their inspections. These parameters are generally outlined in either the contract or the report or both. Nearly all home inspection contracts clearly specify that concealed items are outside the scope of the inspection. Additionally, most inspection reports specifically identify ASHI standards as the basis upon which the inspection is to be performed.

How To Negotiate After A Home Inspection
The home you're buying is scheduled to be inspected. When you get the inspection report, how do you know which problems the seller should fix and which ones to accept as is? Are there some rules or guidelines to determine how this works?

In most cases, a residential sale is contingent upon the buyers' acceptance of the home inspector's report. This means that you, as buyer, have a specified number of days to accept or decline the property in "as is" condition. If you decline acceptance, you have four basic choices:

1) Ask the sellers to make a few repairs;
2) Ask the sellers to make many repairs;
3) Ask the sellers to reduce the sales price;
4) Decline to purchase the property.

If you request repairs or a price adjustment, based upon the home inspection report, the sellers also have choices. They can:

1) Agree to all of your requests;
2) Agree to some of your requests;
3) Agree to none of your requests;
4) Decline to sell you the property.

The sellers' only obligation is to address defects that are named in the purchase contact or required by state and local laws. If the contract specifies an "as is" sale, the sellers may refuse to make repairs of any kind or to adjust the price in any way. Lawful exceptions may include strapping water heaters for earthquake safety, providing smoke alarms at specified locations, or upgrading plumbing fixtures for water conservation. Aside from such requirements, completion of the sale hinges upon whatever is agreeable between you and the sellers.

Most Common Defects Found During a Home Inspection
Construction defects and safety violations are surprisingly common, but the majority of home inspection findings tend to be routine in nature. Some, in fact, rear their unsightly heads as often as the sun rises; not just in older homes, but often in brand new ones, even before the smell of new paint has waned. The following, therefore, is a list of common defects likely to appear in a typical home inspection report:

Roofing Defects:
Problems with roofing material, either due to aging and wear or to improper installation, are likely to be found in a majority of homes. This does not mean that most roofs are in need of replacement, but rather that most are in need of some type of maintenance or repair.

Ceiling Stains, Indicating Past or Current Roof Leaks:
The problem here is that you often can't tell if the roof still leaks, unless it is inspected on a rainy day. Some stains are merely the residual effects of leaks that have been repaired. There is also the possibility that ceiling stains were caused by a former plumbing leak in the attic.

Water Intrusion:
Water intrusion into basements or crawlspaces due to ground water conditions can be pervasive, difficult to resolve, and often very damaging to buildings. Correction can be as simple as regrading the exterior grounds or adding roof gutters. Unfortunately, major drainage improvements are often the only practical solutions, requiring costly ground water systems such as French drains designed by experts such as geotechnical engineers.

Electrical Safety Hazards:
Electrical safety hazards, especially (but not always) in older homes: Examples are ungrounded outlets, lack of ground fault interrupters (shock protection devices), faulty wiring conditions in electrical panels or elsewhere in a building, etc. Such problems may be the result of errors at the time of construction, but very often they are due to wiring that was added or altered by persons other than qualified electricians.

Rotten Wood:
Rotted wood at building exteriors and at various plumbing fixtures: In places where wood stays wet for long periods, such as roof eaves, exterior trim, decks, around tubs and showers, or below loose toilets, fungus infection is very likely to occur, resulting in a condition commonly known as dry rot. If left unchecked, damage can become quite extensive.

Building Violations Where Additions and Alterations Were Constructed without Permits:
Homeowners will often tell a home inspector, "We added the garage without a permit, but it was all done to code." This statement is a red flag to most home inspectors, because no one could possibly know the entire building code, and the average person without professional involvement with the code is likely to know very little of it. Whenever an owner offers code assurance, problems are likely to be found.

Unsafe Fireplace and Chimney Conditions:
These can range from lack of maintenance, such as neglecting to hire a chimney sweep, to faulty installation of fixtures. Most common among these are the lack of spark arrestors and substandard placement of wood-burning stoves. Free-standing fireplaces are typically installed by home owners and handymen, people without an adequate knowledge of fire safety requirements. The most common violations in these cases involve insufficient clearance between hot metal surfaces and combustible materials within the building. Fire hazards of this kind are often concealed in attics, where they remain undiscovered until a roof fire occurs.

Faulty Installation of Water Heaters:
In most localities, less than 5% of all water heaters are installed in full compliance with plumbing code requirements. Violations can include inadequate strapping, improperly installed overflow piping, unsafe flue conditions, or faulty gas piping. It should also be remembered that today's water heaters are designed with a shorter lifespan. In fact, leaks can develop in units that are only five years old.

Hazardous Conditions Involving Gas Heaters:
Most gas-fueled heaters are in need of some maintenance, if only the changing of an air filter or a long-overdue review by the gas company. In some cases, however, gas heaters contain life-threatening defects that can remain undiscovered until too late. These can range from fire safety violations to the venting of carbon monoxide into the building. A cracked firebox, for example, can remain undiscovered unless found by an expert or until tragic consequences occur.

Firewall Violations In Garages:
Special fire-resistive construction is required for walls and doors that separate a garage from a dwelling. Violations are common, either due to faulty construction, damage or alterations to the garage interior, or changes in code requirements since the home was built. In older homes, where firewalls are not installed, sellers and agents will often say that the building predates the code. However, the fire separation requirement for residential garages dates back to 1927.

Minor plumbing defects:
These are commonly found, including loose toilets, dripping faucets, slow drains, leaking drains, hot water at the right faucet, and so on.

Failed seals around windows:
This condition is routinely found at dual pane windows, resulting in fogging. This is most common with windows manufactured during the 1980's.

An unabridged list of likely home inspection findings would probably fill a few volumes. For home buyers, this underscores the importance of a thorough evaluation prior to closing escrow. This is why your agent will strongly advise you to obtain a Home Inspection.

Understanding the Escrow Process

J.R Payne (Realty World - Abrhams & Associates) — Sun, 22 Jul 2007 20:19:45 -0500

What Exactly Is An Escrow?
An escrow occurs when a neutral third party holds the documents and monies involved in a real estate transaction and ensures that all conditions of the transaction are met. Escrow also refers to a special account that a lender establishes to hold monthly installments from the borrower to cover property taxes and insurance.

What Does An Escrow Holder Do?
An escrow holder is a neutral third party who takes instructions based on the terms of the real estate transaction and, when necessary, the lender's requirements.

What Are The Duties Of The Escrow Holder?

Receiving and holding all monies, instructions, and documents pertaining to the real estate transaction.
Serving as the communication link and liaison between all parties.
Requesting a preliminary title search to determine the condition of title to the property.
Requesting a beneficiary statement or payoff demand from existing lenders.
Holding inspection reports, deeds, and insurance documents.
Complying with the lender's requirements in its instructions to escrow.
Preparing or obtaining the grant deed.
Prorating taxes, interest, insurance, rents, and other costs related to the property.
Recording the deed and other documents.
Requesting the title insurance policy.
Closing the escrow according to the instructions of the buyer, seller, and lender.
Disbursing funds as authorized by the instructions, including charges for real estate commissions, loan payoffs, title insurance, taxes, recording fees, and other costs.
Preparing final statements of disposition of all funds.

Key terms and phrases commonly associated with escrow include:

Escrow payment:
Funds that a mortgage servicer withdraws from a borrower's escrow account to pay property taxes and insurance.

Escrow analysis:
A lender's periodic examination of an escrow account to determine if the lender is withholding enough funds from a borrower's monthly mortgage payment to pay for expenses such as property taxes and insurance.

Back-to-back escrow:
Arrangements that an owner makes to oversee the sale of one property and the purchase of another at the same time, also known as a concurrent closing.

Escrow closing:
An escrow closing occurs when all conditions of a real estate transaction are met and the title of the property is transferred to the buyer.

Escrow Company:
A firm that acts as a neutral third party to ensure that all conditions that the buyer, seller, and lender establish in a real estate transaction are met.

The Moving Process

J.R Payne (Realty World - Abrhams & Associates) — Sun, 22 Jul 2007 20:16:54 -0500

Preparing For The Move
There's so much to do before you move that the list seems almost endless. However, here is a list of items that can be completed well in advance of your moving date.

6 weeks before moving:

Fill out a change of address order form for the post office.
Prepare an inventory of everything you own. Divide this inventory into three separate categories: items to be handled by the mover, items to be handled by you, and items to be left behind.
Pack stock certificates, wills, and other one-of-a-kind items (jewelry, photos, and home videos) that will be difficult or impossible to replace. Plan to carry them with you instead of packing them.
Get rid of what you don't need either through a garage sale, give to friends or charity, or haul off to the dump.
Contact your insurance agent to transfer property, fire, auto, and medical insurance.
Organize dental and medical records. Include prescriptions, eyeglass specifications, and vaccination records.
Inquire about changes that you may incur in your auto licensing and insurance when moving.
Notify your childrens' school(s). Make arrangement for records to be forwarded to the new school district.
Contact any clubs or organizations you are associated with for information on transferring, selling, or ending your memberships.
Get acclimated to your new community. Drive around and learn where the important destinations are, e.g. shopping districts, hospitals, police and fire departments.
Contact the Chamber of Commerce or Visitor's Bureau to request information on schools, parks and recreation, community calendars, and maps.
If you plan to do any part of the packing, start collecting suitable containers and packing materials.
Cancel local deliveries.
If you have pets, call your new town to determine if there are any specific requirements for pet ownership. In addition, obtain and transfer veterinarian records.
Register your children in their new schools.
Fill out an IRS change of address form.
Make arrangements with your moving company, or reserve a rental truck.
Make travel arrangements, if necessary, with airlines, buses, car rental agencies, and hotels.
Transfer memberships in churches, clubs, and civic organizations.
Obtain medical and dental records, x-rays, and prescription histories. Ask your doctor and dentist for referrals, and transfer prescriptions.
Set up a checking account in your new city.
Check into the laws and requirements of your new city regarding home-based businesses, professional tests, business licenses, and any special laws that might be applicable to you.
Take inventory of your belongings before they're packed, in the event you need to file an insurance claim later. If possible, take pictures or video tape your belongings. Record serial numbers of electronic equipment.

2 Weeks Before Moving

Switch utility services to new address. Inform electric, disposal, water, newspaper, magazine subscription, telephone and cable companies of your move.
Arrange for help on moving day.
Confirm travel reservations.
Reserve elevator if moving from an apartment.
Have appliances serviced for moving.
Clean rugs and clothing and have them wrapped for moving.
Plan ahead for special needs of infants.
Close bank accounts and have your funds wired to your new bank. Before closing, be sure there are no outstanding checks or automatic payments that haven't been processed.
Collect valuables from your safe-deposit box. Make copies of any important documents before mailing, or hand carry them to your new address.
Check with your insurance agent to ensure you'll be covered through your homeowner's or renter's policy during the move.
Defrost freezer and refrigerator. Place deodorizer inside to control odors.
Give a close friend or relative your travel route and schedule so you may be reached if needed.

On Moving Day

Double check closets, drawers, shelves, attic, and garage to be sure they are empty.
Pack important documents, currency, and jewelry yourself, or use registered mail.
Strip your beds, and make sure the bedding goes into a 'Load Last' box.
Make sure to be on hand when the movers arrive.
Confirm the delivery date and time at your new address. Write directions to your new home for the driver. Provide the new phone number, and include phone numbers where you can be reached in transit (cell phone).
Make sure to take along the driver's name, address, and telephone number.
Spend as much time with the mover as possible. If you have special instructions, like what to load first and last, make sure it is explained to your mover. Communicate well with the movers. If you choose to have your mover handle your valuables or other fragile goods, tell the mover in advance.
Review all details and paperwork with driver. Accompany the driver as he or she inspects and tags each piece of furniture with an identifying number. These numbers, along with a detailed description of your goods and their condition at the time of loading, will appear on the inventory.
Make sure all of your goods are loaded.
Perform a final inspection of the premises.

After Arriving At New Home

Renew your driver's license, auto registration, and tags.
Shop around for new insurance policies, especially auto coverage.
Revise your will and other legal papers to avoid longer probate and higher legal fees.
Have all utilities turned on. (Phone, gas, electricity, Internet, water, cable TV, etc.)
Locate the hospitals, police stations, veterinarian, and fire stations near your home.
Be at the premises when the movers arrive. Remain on the premises while your belongings are being unloaded. If you cannot be there personally, be sure to authorize an adult to be your representative to accept delivery and pay the charges for you. Inform the destination agent of your chosen representative's name.
Have payment on hand for your moving charges. Unless other billing arrangements were made in advance, payment is required upon delivery in cash, traveler's checks, money order or cashier's check. Most of the time, personal checks are not accepted.
Confine your pets to an out-of-the-way room to help keep them from running away or becoming agitated by all of the activity.
Review your floor plan so you can tell the movers where to place your furniture, appliances, beds, and boxes. Be available to direct them as they unload.

To prevent possible damage, televisions, stereos, computers, other electronic equipment, and major appliances should not be used for 24 hours after delivery, allowing them time to adjust to room temperature.

If you follow these ideas, tips, and suggestions, you should be able to accomplish your move with a minimal amount of disruption and heartache.

Information on Reverse Mortgages

J.R Payne (Realty World - Abrhams & Associates) — Sun, 22 Jul 2007 20:15:33 -0500

A Reverse Mortgage Defined
A reverse mortgage is a special type of loan used by senior homeowners to convert part of the equity in their home into cash or tax-free income without having to sell the home, give up title, or take on a new monthly mortgage payment. The money from a reverse mortgage can provide seniors with the financial security they need to enjoy their retirement years to the fullest.

The reverse mortgage is aptly named because the payment stream is "reversed." Instead of making monthly payments to a lender, as with a regular first mortgage or home equity loan, a lender makes payments to you.

While a reverse mortgage loan is outstanding, you continue to own the home.

You Will Never Be Forced Out of Your Home
Borrowers will never, under any circumstance resulting from the reverse mortgage, be forced to leave their homes providing they pay their real estate property tax and insurance premiums.

Borrowers can choose to receive the reverse mortgage funds as a lump sum, monthly income (for up to life), or a line of credit, or as a combination of monthly income and line of credit. No mortgage payments are due during the life of the loan. Borrowers can use the funds anyway they wish. Borrowers make no monthly payments on a reverse mortgage during its term. The loan becomes repayable when the borrower sells the home or permanently moves out. In addition, the repayment amount can't exceed the value of the home.

What can the Money Be Used For?
The money from a reverse mortgage can be used for ANYTHING, including the following:

Daily living expenses
Home repairs and home modifications
Medical bills and prescription drugs
Pay-off of existing debts
Continuing education
Travel
Long-term health care
Prevention of foreclosure, and other needs.

If your home needs physical repairs (mandatory repairs) in order to qualify for a reverse mortgage, a portion of the proceeds will be set aside for this purpose.

To qualify for a reverse mortgage, you must be at least 62 years old and own your own home. There are no income or medical requirements to qualify. You may be eligible for a reverse mortgage even if you still owe money on a first or second mortgage. In fact, many seniors get a reverse mortgage to pay off a first mortgage.

Options on How to Receive Money from a Reverse Mortgage.

All at once (lump sum)
Fixed monthly payments (for up to life)
A line of credit
A combination of these
The most popular option - chosen by more than 60% of borrowers - is the line of credit, which allows you to draw on the loan proceeds at any time

The size of the reverse mortgage you can receive depends on:

Your age at the time you apply for the loan
The type of reverse mortgage you choose
The value of your home
Current interest rates
And - sometimes - where you live.

In general, the older you are and the more valuable your home (and the less you owe on your home), the larger the reverse mortgage can be.

What Costs are Associated With a Reverse Mortgage?
They include the origination fee (which can be financed as part of the mortgage), an appraisal fee, and other charges similar to those for regular mortgages.

The money provided to you from a reverse mortgage is tax-free, and does not affect regular Social Security or Medicare benefits. However, the funds received from a reverse mortgage may affect your eligibility for certain kinds of government assistance, such as Medicaid or state assistance programs. So, you should check into this before getting a reverse mortgage. To do this, you may wish to consult with your local Area Agency on Aging (to locate, call 1-800-677-1116, or visit http://www.www.eldercare.gov), a reverse mortgage lender, or a tax attorney.

How Do I Begin the Process?
Before applying for a reverse mortgage, you must first meet with a reverse mortgage counselor. You may, however, first approach a reverse mortgage lender, who can provide you with the names of approved counseling agencies in your area. A list of approved counseling agencies nationwide is posted on the Internet by the U.S. Department of Housing and Urban Development. http://www.hud.gov/buying/rvrsmort.cfm

The counselor will educate you about reverse mortgages, and inform you of other alternative options given your situation, as well as assist you in determining which particular reverse mortgage product best fits your needs.

No payments are due on a reverse mortgage while it is outstanding. The loan becomes due and payable when you cease to occupy your home as a principal residence. This can occur if you (the last remaining spouse, in cases of couples) pass away, sell the home, or permanently move out.

Where can I get a Reverse Mortgage?
They are offered by banks, mortgage companies, and other financial institutions.

In the U.S., the most popular reverse mortgage is the federally-insured reverse mortgage, called the FHA Home Equity Conversion Mortgage Program (HECM). The other major product is the Home Keeper reverse mortgage, developed in the mid-1990s by Fannie Mae, a private national mortgage company. One "jumbo" private reverse mortgage product, designed to accommodate seniors living in higher-priced homes, is offered by Financial Freedom Senior Funding Corp. of Irvine, CA. This is the Cash Account Plan. The HECM and Home Keeper products are available in every state, while Financial Freedom's product is offered in 21 states and the District of Columbia.

Buying vs. Renting

J.R Payne (Realty World - Abrhams & Associates) — Sun, 22 Jul 2007 20:14:13 -0500

Should You Buy or Rent a Home?

Is home ownership the right path for you? Should you rent instead? If you rent will you be jeopardizing the possibility of home ownership in the future due to rising real estate values? How fast will your family grow and how much space is needed for your family and their activities? How much money do you have to pay for housing? When is the best time to buy a house?

With the rising cost of home ownership in America today, combined with low mortgage rates, many first time buyers are challenged by the answers to these questions.

Buying and owning your own home is more complicated than just having the money for the down payment and monthly mortgage payments. Owning a home requires a tremendous commitment of funds, time, and attention. For some people, owning is not the best or only way to have a comfortable and safe living environment.

The following topics should help make your decision a little easier.

Advantages and disadvantages of renting a home
Advantages and disadvantages of buying a home
Defining your values
Are you ready for home ownership

Advantages and disadvantages of renting a home

For some, renting can be the best option. Considering the high cost of a down payment on a home, financial considerations are of top priority. Renting can be viewed as a temporary solution while you plan your future.

The ADVANTAGES of renting are as follows:

You are excused from the bulk of home ownership responsibilities such as:
- Grounds maintenance
- Appliance repairs
- Remodeling
- Home Improvements
- Property taxes
Your rental many include amenities such as:
- Pool
- Tennis courts
- Social/activity rooms
- Laundry facilities
- Security
- Parking
There is no large down payment, only a security deposit.
Many of your monthly expenditures (rent, utilities) are fixed making budgeting easy.
You are not taking any equity risk on the property should there be a downturn in the market
Close proximity of neighbors often create a sense of security.
If you do not like where you live, moving is relatively simple.
It is easier, especially if you travel/commute often.

The DISADVATAGES of renting are as follows:

No special tax deductions.
There are no equity gains in the rising value of property.
Space and storage is usually less than a home.
Changes to accommodate your life or growing family cannot be made or are limited in scope.
Rents can rise with inflation and or supply and demand in the rental market.
You will probably have restrictions on noise level, pet ownership, or children.

Advantages and disadvantages of buying a home

The ADVANTAGES of buying a home:

The home may increase in value, resulting in a significant gain in net worth.
The emotional high derived from ownership and the sense of status created both at home and in the community.
Homeowner's tend to have better credit ratings.
The longer you live in a home, the more equity you build that can be leveraged using an emergency loan.
Mortgage payments contribute to an investment, particularly if the property is located where it increases in value over a period of years.
If you have a fixed loan, your payment will remain relatively constant for the life of the loan.
The interest paid on your loan and taxes are legitimate income tax deductions.
Ownership may contribute to security, especially in retirement years when income normally decreases.
A homeowner can borrow against his/her equity, as the value of the home increases.
More space may be available for family members and their activities.
As a homeowner you have the freedom to make improvements and changes to the home and surroundings as desired (although a development or association may have restrictions and prohibitions).
Home ownership can contribute to the general well-being and sense of "roots" of the family, especially for children.
Homeowners generally are concerned about community affairs and how they may affect their property.

The DISADVANTAGES of owning a home

A substantial down payment is needed.
Owning a home requires a substantial commitment in time, emotions, and money.
Homes may decrease in value if the neighborhood deteriorates, changes quickly, or the real estate market suffers a decline.
Due to the initial expense of buying a home, financial resources may be limited or reduced for other purchases or activities.
Maintenance and repairs are inevitable and could be costly.
Part of home ownership includes procuring enough income to afford insurance of all kinds including loss of the house as a result of a natural disaster.
Budgeting is cumbersome and a must in preparation for maintenance, repairs, home improvements, and/or home ownership/association dues.
Depending on where you live property taxes could increase dramatically.
The cost of buying a home should also include the cost of moving into it and furnishing it.
Shifts in the neighborhood could drastically affect ones lifestyle.
Security is an issue if you are not home often due to travel.
Unexpected loss of income due to job termination or unemployment may limit money available for home ownership costs.

Define Your Values

Decisions, decisions. The very best way to proceed is to list all the factors about your life that are important to you.

What type of living situation would make you feel the best about yourself?
Do you have certain neighborhood preferences that would be limited by either decision?
Which decision would strap you the most financially?
If you have family (married, children) which decision would impact their lives?
Which is more important to you, what type of place you reside in or the furnishings within, or both?
What are your lifestyle requirements?
- Do you like to entertain?
- Do you own a boat or RV?
- Do you need a garage because of your hobbies)?
- What is the distance you would have to travel to work, school, church, shopping?
How important is privacy?
How much time and what skill sets do you need to have to devote to maintenance and upkeep?

Are You Ready for Home Ownership

The Neighborhood.
Life can be greater than you thought or it can be a nightmare if you do not consider the neighborhood as part of your decision. Here's a list of things to check and consider.

Local history
Local government
Its proximity to:
- Factories
- Trains
- Airports
- Traffic
- Highways
- Farms
- Sanitation
Appearance
Schools
Whether the neighborhood is appreciating or depreciating in value.
Safety and security.

Accessibility
Little things like driving through traffic bottlenecks or through industrial zones to get to shopping, schools or work can be a real issue over time. Consider the convenience of your desired neighborhood in relationship to:

Work
Shopping areas
Schools
Entertainment and lifestyle activities
Places of worship
Condition of the roads
Available public transportation.

Community Facilities
Unless you are on the Internet 24 hours a day seven days a week, you will want to use the local resources to enhance your life. Consider looking into the following:

Police
Fire stations
Health facilities
Sanitation services
After school activities
Recreational facilities, such as parks, golf courses, hiking trails, etc.

Other considerations
If you are buying consider what the neighborhood offers for you and your particular lifestyle. Furthermore, this might be a good time to evaluate your particular needs and how they might affect the potential to sell the home in the future. As an example, suppose you choose a home far from schools and children's parks because that is not a concern for you in your life now. What you might want to consider is how distance from these facilities might affect the ability to sell your home one day to buyer who may have a keen interest in those things. Conversely if you are renting, these may or may not have a bearing on your life now or after you move.

The apartment or home itself

Space, arrangement, and condition.
Bedrooms and bathrooms (enough space and privacy).
Kitchen and work area (well planned and step saving, adequate work and storage areas).
Dining and living areas (adequate for family entertaining and resting).
Storage (adequate and well placed).
Room sizes, shapes, and wall areas to permit use of furnishings and equipment on hand or planned.
Interior and exterior finishes (acceptable types, condition, and ease of maintenance).
Heating and lighting (adequate and efficient systems).
Outdoor space (patio, deck, lawn, garden space, outdoor storage).

How Much House Can You Afford?

Buying a house commits you to a long-term relationship with a mortgage and requires a considerable amount of time and energy that most homeowner will tell you becomes second nature. American consumers spend from 21% to 54% of family income on their housing. How much each family spends on housing depends on many factors.

Three basic considerations that can help a family determine how much home they can afford are:

The amount of take-home pay the family can reasonably expect.
The family's living costs and other debt payments.
The total amount of housing expenses, including: taxes, insurance, energy, furnishings, maintenance, and mortgage payments.

Because of rising prices and increased housing-related expenses, the old rule-of-thumb on how much to pay for a home no longer applies. For the best advice on what type of loans are available and what to apply for, please call me @ 530-828-4384

Remodeled Home in Beautiful Paradise

J.R Payne (Realty World - Abrhams & Associates) — Sun, 22 Jul 2007 13:29:44 -0500

Very nice home in desirable area, golf course is two doors away on this quiet street. The home is in excellent condition with oak cabinets in the kitchen and bathrooms, central heating and air conditioning, natural landscaping with automatic sprinklers and a nice backyard deck for entertaining. Centrally located yet secluded near stores, churches, golf, and restaurants. Homes do not frequently go up for sale on this street, get yours now. $279,000.00 J.R Payne 530-828-4384 Realty World Abrahms & Associates Visit http://www.postlets.com/rem/101211 for a full list of details and pictures

Understanding Credit Reports

J.R Payne (Realty World - Abrhams & Associates) — Sun, 22 Jul 2007 13:27:08 -0500

Understanding Credit Reports:
A credit report is a factual record of your credit payment history maintained by a credit bureau. It's provided to companies and individuals by credit bureaus for purposes permitted by law, usually to grant you credit.

More than 205 million people in the United States have a credit card, car loan, mortgage, or student loan. Almost every one of them has a credit file. The information in your credit file is obtained directly from the companies you have credit with, as well as from government agencies such as the legal court systems. There are three major credit bureaus in the United States: Experian, TransUnion, and Equifax. Even though you are in good financial shape, there is a possibility of identity theft or just a simple error in credit reporting that might damage your credit file. The best way to track changes in your credit profile is to purchase a credit monitoring service. Usually the credit monitoring service includes a credit report and updates for 30 days.

Your rights under the Fair Credit Reporting Act:

You have the right to receive a copy of your credit report. The copy of your report must contain all of the information in your file at the time of your request.

You have the right to know the name of anyone who received your credit report in the last year for most purposes, or in the last two years for employment purposes. Any company that denies your application for credit must supply the name and address of the Credit Reporting Agency (CRA) they contacted, provided the denial was based on information given by the CRA.

You have the right to a free copy of your credit report when your application for credit is denied because of information supplied by the CRA. Your request must be made within 60 days of receiving your denial notice.

If you contest the completeness or accuracy of information in your report, you should file a dispute with the CRA and with the company that furnished the information to the CRA. Both the CRA and the furnisher of information are legally obligated to investigate your dispute. You have a right to add a summary explanation to your credit report if your dispute is not resolved to your satisfaction.

Credit Reporting Agencies:

Trans Union
http://www.transunion.com/

Experian
http://www.experian.com/

Equifax
http://www.equifax.com/

If you would like to begin the loan application process and get preapproved please visit http://www.buttecountyhomes4u.com