If there is one thing more certain in NZ these days than the latest political scandal or sporting event, it is the view people have to real estate and the purchase of a property.

It is so true that everyone has an opinion and every opinion is the polar opposite of everybody else’s!

It was with this in mind that my eye was caught by a great blog post by Jane Yee, who writes on Stuff.co.nz. Jane is a classic Gen X / Gen Y and her life is played out through her regular blog entitled the “Girls Guide”. Now there are two really important things to reflect on at this stage (i) Jane is of the age that most people start to buy property, and (ii) Jane writes from a woman’s perspective which is as is well known very much the influential voice in real estate transactions in the case of couples.

Her most recent post “Real Estate, Everyone’s and expert” is one of the clearest perspectives I have read on the consumer psyche of buying or searching for property I have ever read. It should be mandatory reading for anyone in the real estate industry. Added to Jane’s excellent prose is over 60 comments from “people like her” that further add to the richness. I really urge everyone to read and comment.

By way of dissection, below I have distilled what I consider to be the key takeaways I see as pivotal to the process?? valuable sources of focus for ambitious operators in this industry.

1. Buying a home despite what many believe it to be is not always a rental investment property. Many people just want to satisfy their emotional desire to own a home?? it is also a great form of forced savings.

2. The process of house hunting is time consuming, enormously time consuming involving?? daily review of listings (I clearly need to introduce Jane to Realestate.co.nz as well as Trade Me, after all Realestate.co.nz does feature a more complete view of whats on the market), as well as weekend open homes.

3. The activity is very much a self managed exercise.

4. Everyone has an opinion / piece of advice. At the end of the day the collective wisdom as represented by the comments is that you have to make that decision yourself and accept the implications.

5. Your key partner in the process seem to be the mortgage broker rather than the real estate agent.

6. Unfortunately real estate agents tend to be seen (and demonstrate the behaviour) of being seen as purveyors of other peoples listings.

7. There are huge emotions involved in real estate process?? the heartache of missing out, matched to the desire to find just the right place.

8. Home buying has a benefit in a sense of control, something that can not be attained through renting and therefore financial comparisons are not always relevant.

For many homeowners the overall goals of re-financing are often paying less in interest overall and reducing monthly payments. When a homeowner is able to obtain a lower interest rate, there is usually the opportunity to re-finance the mortgage to capitalize on the lower interest rate. However, a lower interest rate does not automatically translate to a savings. The homeowner must carefully consider the amount of money they will be savings over the course of the loan in relation to the amount of money they will be spending to re-finance the mortgage. When the closing costs associated with re-financing are larger than the savings, re-financing may not be warranted. Re-financing can also have financial ramifications associated with tax options.

Paying Less Interest Equals Less of a Deduction
In most locations, homeowners are permitted to deduct the amount of taxes they pay on their mortgage when filing their tax forms. This is usually quite a substantial deduction for homeowners who owned the home for the entire tax year. Those who re-finance their mortgage will typically be paying less money each year in taxes on the mortgage. While this is great in the long run, it can adversely affect the homeowner’s tax return.

Consider a situation where a homeowner is located just below a major tax bracket which would be quite costly for the homeowner. As all ready discussed, re-financing may result in the homeowner paying less money in taxes each year. This means the taxpayer will be able to make a smaller deduction this year now fall above the tax bracket they previously fell below. When this happens the homeowner may find themselves paying significantly more in taxes.

Consult a Tax Preparation Specialist
Determining the exact ramifications of paying less interest on a home mortgage on a tax return can be a rather tricky process. There are a number of difficult equations involved which can make the apt to make mistakes while trying to determine the consequences of paying less in taxes on the mortgage. For this reason, the homeowner should consult a tax preparation specialist when determining whether or not re-financing is worthwhile because the tax specialist can provide information regarding the impact of paying less in interest.

In selecting a tax preparation specialist, the homeowner should seek out opinions from friends and family members if the homeowner does not employ a specialist to prepare their own taxes. This can be helpful because trusted friends and family members are only likely to recommend professionals they feel were knowledgeable, trustworthy and caring. A tax preparation specialists should have all of these qualities but should also be well versed in the area of tax preparation. This will enable the tax preparation specialist to make all of the right decisions when considering the needs of the homeowner.

Online Calculators
For homeowners who do not know a tax preparation specialist or for homeowners who are unable to afford the consulting services of these individuals, there are online calculators which homeowners might find very useful. These calculators are readily available throughout the Internet and can be used to determine the tax ramifications to re-financing. These calculators ask the user to input specific criteria then returns results regarding the amount the homeowner will pay in taxes during the year if he refinances. Additionally the homeowner can run these equations several times to consider a number of different scenarios.

Having trouble paying your bills? Getting dunning notices from creditors? Are your accounts being turned over to debt collectors? Are you worried about losing your home or your car?
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You’re not alone. Many people face financial crises at some time in their lives. Whether the crisis is caused by personal or family illness, the loss of a job, or simple overspending, it can seem overwhelming. But often, it can be overcome. The fact is that your financial situation doesn’t have to go from bad to worse.

If you or someone you know is in financial hot water, consider these options: realistic budgeting, credit counseling from a reputable organization, debt consolidation, or bankruptcy. How do you know which will work best for you? It depends on your level of debt, your level of discipline, and your prospects for the future.

Self-Help

Developing a Budget
The first step toward taking control of your financial situation is to do a realistic assessment of how much money you take in and how much money you spend. Start by listing your income from all sources. Then, list your “fixed” expenses ?those that are the same each month ?like mortgage payments or rent, car payments, and insurance premiums. Next, list the expenses that vary ?like entertainment, recreation, and clothing. Writing down all your expenses, even those that seem insignificant, is a helpful way to track your spending patterns, identify necessary expenses, and prioritize the rest. The goal is to make sure you can make ends meet on the basics: housing, food, health care, insurance, and education.

Your public library and bookstores have information about budgeting and money management techniques. In addition, computer software programs can be useful tools for developing and maintaining a budget, balancing your checkbook, and creating plans to save money and pay down your debt.

Contacting Your Creditors
Contact your creditors immediately if you’re having trouble making ends meet. Tell them why it’s difficult for you, and try to work out a modified payment plan that reduces your payments to a more manageable level. Don’t wait until your accounts have been turned over to a debt collector. At that point, your creditors have given up on you.

Dealing with Debt Collectors
The Fair Debt Collection Practices Act is the federal law that dictates how and when a debt collector may contact you. A debt collector may not call you before 8 a.m., after 9 p.m., or while you’re at work if the collector knows that your employer doesn’t approve of the calls. Collectors may not harass you, lie, or use unfair practices when they try to collect a debt. And they must honor a written request from you to stop further contact.

Credit Counseling
If you’re not disciplined enough to create a workable budget and stick to it, can’t work out a repayment plan with your creditors, or can’t keep track of mounting bills, consider contacting a credit counseling organization. Many credit counseling organizations are nonprofit and work with you to solve your financial problems. But be aware that just because an organization says it’s “nonprofit,” there’s no guarantee that its services are free, affordable, or even legitimate. In fact, some credit counseling organizations charge high fees, which may be hidden, or pressure consumers to make large “voluntary” contributions that can cause more debt.

Most credit counselors offer services through local offices, the Internet, or on the telephone. If possible, find an organization that offers in-person counseling. Many universities, military bases, credit unions, housing authorities, and branches of the U.S. Cooperative Extension Service operate nonprofit credit counseling programs. Your financial institution, local consumer protection agency, and friends and family also may be good sources of information and referrals.

Reputable credit counseling organizations can advise you on managing your money and debts, help you develop a budget, and offer free educational materials and workshops. Their counselors are certified and trained in the areas of consumer credit, money and debt management, and budgeting. Counselors discuss your entire financial situation with you, and help you develop a personalized plan to solve your money problems. An initial counseling session typically lasts an hour, with an offer of follow-up sessions.

When you are heavily buried in debt and your finances are not enough to cover additional expense, lenders seemed like godsend angels from above.

Basically, a lender refers to any financial institution, whether a bank, lending company, cooperative, credit union, or agencies, which provide or extend help to those who need hefty amount of money for some personal reasons.

A lender is actually a company that represents the institution as a whole. Generally, these type of moneymakers earn a living by lending money to people and reap interest rates in return.

These interest rates are being charged by the financial institution on the debtor while the loan is still in full force.

Additional charges can be made in the event that the debtor was unable to pay back the loan within the agreed period. In this case, the loan officer will, then, make necessary procedures in getting back the loan amount in a more legal way.

Normally, lenders work hand in hand with realtors or real estate companies. They provide the appropriate financial aid to the clients of the real estate company.

Real estate agents will mostly refer you to a loan officer that has an established track record. Or better yet, they will recommend you to portfolio lenders because these are the type of persons who are usually capable of closing a deal with the clients.

On the other hand, loan officers may also take the form of a mortgage lender. They are the ones that provide mortgage loans to people who have assets that will serve as collaterals.

Generally, every loan officer would claim that their company is better off than the others. But when you encounter the same person a few years later, he will still tell you the same thing even if it means that he is already in a different company.

This only means that a lender will typically tell you that he or she can give you the best deal when it comes to loan and credits so as to earn interest from your loan.

That is why most financial experts contend that it is best to consider the individual loan officer rather than consider the financial institution as a whole.

The basic concept of a lender’s job is confined on two things: First, to be your backer so as to get an approval in your loan request; and secondly, one who is suited to provide you with quality and feasible loans.

These all boils down to the fact that an ideal lender should be trustworthy enough to give justice to the details of the job.

Consequently, loan officers should take extra effort in rendering quality customer service to their clients or borrowers. After all, it is where they get their earnings. Even if it seems that it is the lender who extends help, it is still best for a loan officer to consider his or her customer’s satisfaction.

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NEW YEARS RESOLUTIONS… We all make them. We all break them. The top resolution that we make, believe it or not, is not LOOSING WEIGHT or EXERCISE. Studies have shown that the top resolution, year in and year out, IS TO GET ORGANIZED.

Aside from the fact that everything we do revolves around our organizational skills, or lack thereof, our FINANCIAL, MENTAL and PHYSICAL WELL-BEING is greatly affected, as well. In order to make 2010 the year we finally achieve our goal, We need to identify our reasons for wanting to get organized.

One of the biggest components of successful organization consists of record keeping. When I sit down with Sellers and compile data concerning the repairs or replacements that have been made to major components of the house, they frequently have nothing more than a general idea of the age of the roof, or the year when the bathroom was added, or even the new heater in the basement. The Seller will often be years off in his or her estimates of time and price. How much simpler life would be if a journal had been maintained and entries had been made every time a significant expense had been incurred. START ONE NOW and take a few minutes to jot down expenses as they occur. It gets easier as you go along.

Even though each family or household must work out its own system, some general guidelines can be helpful. Ask yourself a few basic questions:

- Who may need access to necessary information about your family household assets and obligations?

- Do you have a list somewhere of people who are important contacts, such as your tax counselors, attorneys, bankers, insurance agents, employers, creditors and debtors?

- Are you sure titles to property and possessions are held in the best way for all concerned? You may need to meet with an estate attorney for professional assistance.

- A good record system will provide a bird’s-eye view of what happens to property after you die or when a member of your household dies. Other changes can alter plans too for example, divorce, illness, loss of a job, retirement.

What happens if your home is burglarized or there is a fire and all of your records are destroyed? What do you do when you lose track of really important papers? What can be replaced, and how do you go about replacing it? Which ones cannot be replaced, and what do you do about those?

Every family household has some important records. Each of us should have a birth certificate or an acceptable substitute. It is important that you keep it in a safe place, preferably a safe deposit box.

If you have lost or misplaced birth certificates, the best time to apply for replacements is NOW.before there is a pressing need.

Other important documents to be kept in your safe deposit box include marriage certificates, divorce or other legal papers regarding dissolution of marriage, adoption papers, citizenship records, military service papers and any other document that is either government or court recorded.

If you do not have a safe deposit box, then now is the time to consider getting one. The yearly rental fee, at your bank or savings and loan company, is quite inexpensive. A guideline as to what goes in and what stays out of your safe deposit box might be: Put it in if you can’t replace it or if it would be costly to replace.

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Breaking an apartment lease when renting can pose a few problems if the property owner is not as understanding as you would like. When you sign the agreement, you need to be aware of what your options are for breaking the apartment lease. If you have a yearly lease and after four months, you need to break the apartment, you have to take some important steps to cancel the lease. You cannot just decide to move and think everything is going to work out. People, who think this way, usually end up with more financial responsibilities than they would of, if they had followed the right steps.

The first thing to do is talk to the property owner so they know what is happening and why. They may choose to work with you, so that it does financially break you or cause them to lose a monthly rent on the apartment. In some cases, the property owner will immediately place the apartment for rent and try to find someone to take over the apartment. This can take some time or it may happen rather quickly depending on the application process and the communities need for housing.

In some cases, a property owner will have you pay to place the new advertisement in the paper because you are breaking the lease agreement. This is small amount of money to spend and you should not argue over this small inconvenience since the owner is being nice enough to let you break the lease. You need to make every available effort to help the property owner find a replacement tenant or you become liable for the rest of the rent due.

If the property owner can find someone to rent the apartment, then breaking an apartment lease will be painless. If they are not having any success, you are going to be responsible for the rent and the utilities to keep lights and heat in the place. The water however may be shut off unless it is required for heating. Once the property owner does find a renter, the utilities will be changed and you will no longer be responsible.

Breaking an apartment lease may require you to pay the rent for the entire lease, but this is uncommon. If the apartment is not rented, you are responsible and can be taken to small claims court to settle the remainder of the rent. The property owner will win, if they did everything possible to rent the apartment with no success. You will then have a judgment placed against you to pay the remainder of the rent.

It is always best to communicate everything as you go forward. The property owner is going to be more willing to make adjustments if he or she sees that you are doing everything possible to help get the place rented. This might include some extra cleaning or making the place look more inviting for potential renters when they come to check the place out. You never want to point out the negatives about the place.

Long-term care insurance is insurance that might be added to a patient’s current medical insurance coverage. It can be included in personal medical care insurance or government provided insurance, Medicaid or Medicare.

Long-term care insurance covers services that are separate from health insurance plans which help with the payments of physician appointments, hospice stays, or prescriptions. Long term care insurance is especially for services to help the patient with in-home care. They would need help with daily living wants such as meal preparation, feeding, transferring, toileting, or dressing. This might comprise paying for a service to have someone to come and perform these obligations such as cooking and cleaning of the home for the patient.

The bulk of folks who would need the service are aged. They might not be physically able to perform their requirements or they may have cognitive impairment like Parkinson’s disease or Alzheimer’s. Some children may qualify if parents need further help with a disable kid. This would be a form of recess care.

Long-term health insurance also includes coverage for patients who would need to moved from their home into a care home. Other examples are assisted living facilities and adult day cares.

Advantages to getting a long-term care insurance plan include providing the patient with extra financial security during the time they are least able to care for themselves. Paying for a carer to come to the home can be very costly, and an insurance policy covers most costs. Medicare plans pay for a big portion of in-home care.

A second benefit is that these insurance plans are tax deductible, and enterprises which pay for a staff premiums also benefit from tax repayments.

Tax-qualified are the kinds of policies which are most commonly available. There are restrictions in which a person must qualify for these services. They must need in-home care for more than 90 days. The patient must also require help in 2 areas of helped daily living. Examples are help with meal preparation, feeding, showering, transferring from a chair to bed, continence, light housekeeping, driving to perfom errands, and reminding of medicines. The plan also wants to ordered by the physician. The patient buying an insurance plan is not taxed.

The rates of these insurance plans are primarily based on several factors. Insurance companies will look at a patient’s age, the advantage of these services to the patient, the length of service, and the patient’s health rating. There are several types of refunds available to such as rebates for couples purchasing individual policies. This would apply not only to married couples but to those who meet the factors living together and sharing basic routine expenses.

There are many folks who would gain advantage from long term care insurance because when the time comes that a person can’t handle their ordinary needs, it helps significantly financially at these times. It provides families the comfort that they are able to provide someone to look after their loved one when they are not able to. These plans also help in being tax deductible to the shopper.