Monday, October 20, 2014
Top Entrepreneur News

Mon, 20 Oct 2014 10:00:00 -0500

Given the costliness and fragmentation of the smart home market, Verizon Wireless has its sights set on a loftier prize.

Sun, 19 Oct 2014 19:00:00 -0500

Both individuals and employers can strive for better fitness, for personal reward and their companies' sake.

Sun, 19 Oct 2014 18:00:00 -0500

If you're feeling uncreative and more than a little burned out, it may be time to briefly unplug, get active, and find someone to talk to.

Sun, 19 Oct 2014 16:00:00 -0500

Otto shoots in a way that's completely tailored for social media.

Sat, 18 Oct 2014 18:00:00 -0500

You don't have to get a new degree to expand your knowledge base.

Sat, 18 Oct 2014 16:00:00 -0500

Next Big Sound’s data predicts music’s breakout stars.

Fri, 17 Oct 2014 23:00:00 -0500

Using author Tom Corley as inspiration, here's a checklist to the best things in life.

Fri, 17 Oct 2014 22:30:00 -0500

Select the correct method by weighing the task at hand, the recipient, a message's urgency and the potential risk of a misunderstanding.

Fri, 17 Oct 2014 22:00:00 -0500

Movies can be thrilling flights of imagination but none more so than those depicting the struggles of true-life entrepreneurs.

Fri, 17 Oct 2014 21:30:00 -0500

The same challenges face anyone in business, but women encounter their own unique challenges.

Fri, 17 Oct 2014 21:00:00 -0500

No matter what game you're playing, the winning formula is preparation, teamwork and a hunger to learn more.

Fri, 17 Oct 2014 20:48:00 -0500

After Uber driver Chris Ortiz tweeted about driver safety, he was unceremoniously dumped by the company in a letter that called his statements 'hateful.'

Fri, 17 Oct 2014 20:45:00 -0500

Reap the full benefits of your moments in the spotlight. Share the highlights before, during and after.

Fri, 17 Oct 2014 20:30:00 -0500

These days, it’s not enough to have a product or service people like and treat your customers well.

Fri, 17 Oct 2014 20:00:00 -0500

Why entrepreneurs should let their team members make 10 decisions a day.

Fri, 17 Oct 2014 19:42:00 -0500

Do you walk around asking potential clients 'What can I do to win your business?' Don't.

Fri, 17 Oct 2014 19:38:00 -0500

If our privacy is so important to us, why aren't we more skeptical of the services we give our information to?

Fri, 17 Oct 2014 19:30:00 -0500

Find out about Internal Revenue Code updates affecting small businesses that take effect this year and the next.

Fri, 17 Oct 2014 19:15:00 -0500

Candid feedback from past clients can prompt potential buyers to move forward with a purchase.

Fri, 17 Oct 2014 19:00:00 -0500

During those regular gatherings to discuss individual employee performance and goals, vary the setting, format and agenda for better results.

Fri, 17 Oct 2014 18:45:00 -0500

Startup tech companies that provide discounts to others are betting that their use will attract larger, paying customers.

Fri, 17 Oct 2014 18:30:00 -0500

Ads becoming content is here to stay. Railing against it won’t make it stop, but developing solid standards may keep it from undermining the publications in which it appears.

Fri, 17 Oct 2014 18:15:00 -0500

We exalt risk-takers as special but taking action without assurance of the outcome is part of life for everyone.

Fri, 17 Oct 2014 18:00:00 -0500

Determining a business name in an uninspiring conference room or over a glass of wine, just isn't going to cut it. Here are a few tips on unlocking your creative juices – and finding a name you love.

Fri, 17 Oct 2014 17:32:00 -0500

Action comes after massive data breaches have put millions of consumers at risk.

Fri, 17 Oct 2014 17:30:00 -0500

For entrepreneurs to succeed, customers need to trust in the brand. Here are three tips on building trust from the get-go.

Fri, 17 Oct 2014 17:30:00 -0500

A Georgia appellate court ruled that the parents of a seventh-grader who created a fake and defamatory Facebook account for a classmate may be liable for emotional damages by a jury.

Fri, 17 Oct 2014 17:00:00 -0500

This exclusive Entrepreneur.com infographic helps you maximize the most important hours of your day.

Fri, 17 Oct 2014 17:00:00 -0500

By incorporating as a benefit corporation, entrepreneurs can protect their mission by elevating their company’s core social and environmental values to the status of law.

Fri, 17 Oct 2014 16:37:00 -0500

The coffee giant continues to prove itself a master of buzz.

Fri, 17 Oct 2014 16:34:00 -0500

The coffee company announced an updated dress code, raises across the board and free snacks while working.

Fri, 17 Oct 2014 16:30:00 -0500

Long before a potential customer decides to buy from you, they are forming opinions about what you offer. Don't leave that to chance.

Fri, 17 Oct 2014 16:30:00 -0500

Anyone can learn how to access intuition and make better calls.

Fri, 17 Oct 2014 16:00:00 -0500

Taking care of a few key matters will help you get the most out of your business.

Fri, 17 Oct 2014 15:42:00 -0500

The 'creative' settlement was reached with the California Coastal Commission after Napster founder Sean Parker came under fire for hosting an over-the-top wedding that allegedly damaged sensitive Redwood forests.

Fri, 17 Oct 2014 15:42:00 -0500

Danny Boyle is set to direct the movie, which is adapted by Aaron Sorkin from Walter Isaacson's biography on Jobs, and it looks like Christian Bale will be cast in the titular role.

Fri, 17 Oct 2014 15:40:00 -0500

The photo-sharing and hosting service that couldn’t afford a legal trademark battle with Twitter said it was closing down in September. Then, it was back! Update: Just kidding.

Fri, 17 Oct 2014 15:30:00 -0500

These tricks will make you a B2B marketing wizard.

Fri, 17 Oct 2014 15:15:00 -0500

In an economy hostile to small business, how are the most successful small firms surviving?

Fri, 17 Oct 2014 15:00:00 -0500

Our online experts explain why a clear call to action is essential.

Fri, 17 Oct 2014 14:30:00 -0500

To separate yourself from the pack and stand out where others don’t, you need to be different, but not too different.

Fri, 17 Oct 2014 14:10:00 -0500

For every 10 new franchises that open in the U.S., nine close, according to a new report.

Fri, 17 Oct 2014 14:05:00 -0500

The city has enormous woes but also substantial resources. Building a business here serves the greater good more than perhaps anywhere else in America.

Fri, 17 Oct 2014 14:00:00 -0500

The quickest way to increase the value of your product or service is to carefully consider who will value the most from it and marketing to them.

Fri, 17 Oct 2014 13:55:00 -0500

This is what happens when you allegedly underpay 400 delivery workers and shave hours from their paychecks.

Fri, 17 Oct 2014 13:45:00 -0500

An Idaho banker reflects on the values that have passed, along with the bank, from parent to child for more than a century.

Fri, 17 Oct 2014 13:30:00 -0500

You need to show why an investor should back you, and there are a number of traits that successful investees should show during the course of their pitch.

Fri, 17 Oct 2014 13:28:00 -0500

Called 'Audio Card,' the new feature lets people listen to a variety of content while browsing their timelines.

Fri, 17 Oct 2014 13:00:00 -0500

Websites without clear labels, that require multiple clicks to get to the most important stuff, and otherwise frustrate can serve as an example of what not to do.

Fri, 17 Oct 2014 13:00:00 -0500

Check out the news innovators and business owners need to know.

Fri, 17 Oct 2014 12:30:00 -0500

If you want to succeed and grow your business, your sales revenue and your brand, you must build awareness.

Fri, 17 Oct 2014 12:00:00 -0500

More marketers than ever are utilizing so-called 'sponsored social,' with the strategy closing in on display ads. Does this signal a shift in the industry?

Fri, 17 Oct 2014 11:30:00 -0500

This former police officer went from working in a former war zone in Bosnia to running a Merry Maids franchise.

Fri, 17 Oct 2014 11:30:00 -0500

Ready to give it your all? Put it to paper and keep yourself to it.

Thu, 16 Oct 2014 23:00:00 -0500

Here are a few pointers on making healthier decisions while on the road.

Thu, 16 Oct 2014 22:30:00 -0500

While the old way may have been 'buy or goodbye,' things have changed in that all customers, old and new, deserve your full attention.

Thu, 16 Oct 2014 22:00:00 -0500

Conferences are immensely valuable but to get the most out of your time, you have to be ready to soak it all in.

Thu, 16 Oct 2014 21:30:00 -0500

Overcome the uncomfortable and awkward moment of a rejection from a client.

Thu, 16 Oct 2014 21:15:00 -0500

The man behind Google’s first foray into the set-top business discusses how gaming will evolve.

Thu, 16 Oct 2014 21:00:00 -0500

Maybe you've figured out how to work uninterrupted. Now learn how to prioritize and allocate the right hours or minutes to tasks.

Thu, 16 Oct 2014 20:45:00 -0500

Value your contacts and they will value you. Entrepreneurs swear by their connections. But sometimes they swear at them as well.

Thu, 16 Oct 2014 20:42:00 -0500

The new iMac will feature a 27-inch Retina 5K display, Apple said, that is jam-packed with 14.7 million pixels.

Thu, 16 Oct 2014 20:30:00 -0500

If your company wants to do some good, look at these examples to maximize your cause-related marketing.

Thu, 16 Oct 2014 20:14:00 -0500

He released a scathing report, which challenges the company's presentation of itself as a benevolent force for the average New Yorker.

Thu, 16 Oct 2014 20:00:00 -0500

Many business leaders and organizations are predisposed to say no, thereby quashing experimentation and innovation. Here's how to welcome new ideas and tactics.

Thu, 16 Oct 2014 19:45:00 -0500

Consider how to truly listen to another colleague. You'll arrive at better discussions, decisions and results.

Thu, 16 Oct 2014 19:30:00 -0500

Research shows people grow impatient repeatedly hearing "I'm sorry'' while waiting for a solution. Actions really do speak louder than words.

Thu, 16 Oct 2014 19:20:00 -0500

You could get passed over on LinkedIn if your headshot stinks. Put your best face forward on the popular professional networking hub by not making these common and comical profile faux pas.

Thu, 16 Oct 2014 19:15:00 -0500

The billionaire philanthropist wants to distinguish between the wealthy who are using their money for good and those who are merely consuming it.

Thu, 16 Oct 2014 19:13:00 -0500

The iPad Air 2 and iPad Mini 3 will be available for preorder starting tomorrow.

Thu, 16 Oct 2014 19:00:00 -0500

Fall is the time to plan ahead so you can launch the new year as a profitable one.

Thu, 16 Oct 2014 18:45:00 -0500

A CEO reflects on the essential qualities a startup must keep in mind when scaling up in size and trying to preserve its open culture.

Thu, 16 Oct 2014 18:30:00 -0500

Entrepreneurs know the secret to success is hiring the right team to execute their vision. Here are five tips to keep in mind during the hiring process.

Thu, 16 Oct 2014 18:15:00 -0500

Check out these three cool, innovative Nordic startups that are seeking to expand to the U.S.

Thu, 16 Oct 2014 18:00:00 -0500

Being a great leader does not require you to be the best at your job. Understanding these three attributes can help you manage your teams more effectively.

Thu, 16 Oct 2014 17:49:00 -0500

The move comes a day after HBO's announcement of an Internet-only subscription service.

Thu, 16 Oct 2014 17:43:00 -0500

The new payments paradigm has been billed as a potential credit-card killer.

Thu, 16 Oct 2014 17:43:00 -0500

PaintZen, backed by real-estate mogul Barbara Corcoran, launches in New York and San Francisco today.

Thu, 16 Oct 2014 17:33:00 -0500

A 14-year low on jobless claims reinforced expectations that slack in the labor market was being reduced.

Thu, 16 Oct 2014 17:30:00 -0500

By building a culture of candor, you get an honest assessment of your leadership skills without employees being worried about possible negative ramifications.

Thu, 16 Oct 2014 17:15:00 -0500

Close the gender gap one leader at a time.

Thu, 16 Oct 2014 17:00:00 -0500

'Under-promise and over-deliver' is a hallmark of successful service delivery. Yet businesses that consistently go too far above and beyond the scope of work risk damage to their bottom line

Thu, 16 Oct 2014 16:53:00 -0500

In Coca-Cola's new platform for entrepreneurs, Coke brings the money and the cache, while startups (hopefully) help the soda giant reach new markets down the road.

Thu, 16 Oct 2014 16:30:00 -0500

People can learn a lot about running a company by putting on sneakers and hitting the pavement.

Thu, 16 Oct 2014 16:00:00 -0500

Richard Branson and other adventurers take on the final frontier.

Thu, 16 Oct 2014 15:45:00 -0500

Judge also questions Apple's need for secrecy.

Thu, 16 Oct 2014 15:30:00 -0500

This mogul launched hip-hop's biggest entertainers of the past thirty years and has a new plan to discover the next generation of MCs and lyricists.

Thu, 16 Oct 2014 15:30:00 -0500

For the first time, women have taken the reins of some of the world's largest corporations. The challenges they face are anything but new.

Thu, 16 Oct 2014 15:22:00 -0500

The new tool allows users in disaster zones to check in with friends and family.

Thu, 16 Oct 2014 15:15:00 -0500

Google is calling Lollipop its 'largest, most ambitious' Android release yet.

Thu, 16 Oct 2014 15:00:00 -0500

You'll find many ways to give people a second chance to buy by thinking like a shopper while analyzing how they browse your site.

Thu, 16 Oct 2014 14:35:00 -0500

Wireless experts note that the tests could simply be basic research that does not ultimately lead to new products or services.

Thu, 16 Oct 2014 14:30:00 -0500

Don't simply go through the motions of customer development. You should have a deep understanding of the purpose behind it.

Thu, 16 Oct 2014 14:07:00 -0500

Apple fanboys and anyone else who's curious will want to tune it and find out what the tech giant is cooking up next.

Thu, 16 Oct 2014 14:00:00 -0500

Drive, passion and determination don't pay the bills; money does. Here are the wise ways the 'Queen of QVC' saved cash as an early entrepreneur and how you can, too.

Thu, 16 Oct 2014 13:30:00 -0500

Most websites are only optimized for the country that the business is physically in. To expand, owners will need to think about international search.

Thu, 16 Oct 2014 13:00:00 -0500

You may not be a genius, but your writing needs to sound like it.

Thu, 16 Oct 2014 13:00:00 -0500

If you’re noticing your enthusiasm for your business draining, don’t worry. It’s all part of the cycle.

Thu, 16 Oct 2014 12:30:00 -0500

A lot of people tell you they can provide innovation. Hogwash. It's all about you.

Thu, 16 Oct 2014 12:00:00 -0500

The highs and lows of owning a business can be similar to riding a rollercoaster, but remember, setbacks are the building blocks of success.

Mon, 20 Oct 2014 07:29:00 -0500

Apple’s senior vice president of Software Engineering Craig Federighi said that Apple iOS 8.1 will be releasing today. Apple iOS 8.1 includes bug fixes, functionality for several Continuity features, the iCloud Photo Library, Apple Pay and the return of the Camera Roll. Continuity Continuity lets you easily switch between your iPhone, iPad [...]

Mon, 20 Oct 2014 04:14:00 -0500

Judging from most of the coverage of Apple Pay, the mobile wallet that launches Monday, you'd think Apple has already revolutionized the $4 trillion U.S. payments market before anyone has even used it in the wild. But based on research into rival wallets and interviews with merchants, payment tech firms, and payments experts, it's apparent that Apple Pay is far from a guaranteed success. Here's why there's good reason to view Apple Pay with skepticism.

Mon, 20 Oct 2014 01:03:00 -0500

87% of enterprises believe Big Data analytics will redefine the competitive landscape of their industries within the next three years. 89% believe that companies that do not adopt a Big Data analytics strategy in the next year risk losing market share and momentum. These and other key findings are from an [...]

Sun, 19 Oct 2014 19:36:00 -0500

The cross-platform smart watch will passively monitor heart rate and have a battery life of more than two days, sources say.

Sun, 19 Oct 2014 13:35:00 -0500

Divvying up your marketing funds isn’t a fun or easy task, so you’ve likely pushed it off as long as possible. You’ve told numerous vendors, “We’ll look at that for our 2015 budget,” but budget season is quickly approaching — and you need to make a decision. To help you navigate the [...]

Sat, 18 Oct 2014 19:43:00 -0500

Sitting down to do a feature on Motorola's latest budget handset, the Motorola Moto G (2014), I find myself in a quandary. Is the Moto G that most elusive of handsets? Is Motoroloa's pocket rocket the number one choice for smartphone buyers in today's market?

Sat, 18 Oct 2014 05:36:00 -0500

I was not always a writer, coach, speaker and pen-and-marker fiend. I used to be a Human Resources person. I ran Human Resources departments in the startup world and the Fortune 500 world, too. I hired thousands of people, and I noticed one glaring truth about who gets hired. It doesn't [...]

Fri, 17 Oct 2014 15:37:00 -0500

As offices across the country close out a week marked by celebrations of "Boss's Day," now is a great time to consider your relationship with your current boss--could it be improved, or maximized in some way?--or what kind of notes you might want to strike with your next one.

Thu, 16 Oct 2014 14:00:00 -0500

We are now nine and a half months into 2014, and the sales numbers for the music industry are looking particularly grim. While the fourth quarter is typically when the most sales occur, things have never been quite so bad. In 2014, not a single artist’s album has gone platinum. Not [...]

Mon, 13 Oct 2014 19:09:00 -0500

Investment banking company Piper Jaffray conducted a survey between August 25th and September 30th for a report called “Taking Stock With Teens." The survey was given to 7,200 teenagers across 41 states that live in homes with an average income of $59,000. The participants were 47% female and 53% male. Instagram [...]

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5 Chaldean Home Buying Power Tips
By Salam Abbo :: Wednesday, March 14, 2007 :: 10616 Views :: Article Rating :: Business & Finance

Michigan, USA - It is a seller’s market in many Chaldean concentrated states.    While the economy is doing great in states like Illinois, Nevada, Arizona, and California, Michigan’s economy continues to free-fall.  In Michigan the real estate opportunities are far and wide as the buyer market continues to heat up as homes are foreclosed, residents move out of the state, and businesses close.  Chaldeans can seize on the opportunity of depressed Michigan economy by finding and securing an undervalued piece of property. 

There are many advantages of becoming a home owner.  This includes the appreciation, tax benefits, a higher quality lifestyle, a more stable family life, and obviously the investment.

Chaldeans are able to better prepare themselves when planning to purchase a home.  For such occasions consider these 5 Chaldean home buying power tips.

1.  Understand your Debt-to-Income Ratio
When a lending company determines a Chaldeans’ ability to qualify for a mortgage, a lender looks at what is called the "debt-to-income" ratio. A debt-to-income ratio is the percentage of your gross monthly income (before taxes) that you spend on debt. This will include your monthly housing costs, including principal, interest, taxes, insurance, and homeowner’s association fees, college loans, and other forms of debt or recurring expenses. It will also include your monthly consumer debt, including credit cards, installment debt, and car payments.

For example, suppose you earn $5000 a month and you have a car payment of $400. Using an interest rate of 8.0%, you would qualify for approximately $55,000 less than if you did not have the car payment.

In short the debt-to-income ratio affects your buying power.  Your debt to income ratio is a simple way of showing what percentage of your income is available for a mortgage payment after all other debts are met. The ratio is one of the key things a lender considers before approving your home loan.
Conventional loans are sometimes expressed as debt limits like the 28/36 qualifying ratio. Those numbers refer to two percentages that are used to examine two factors of your debt load.

The 28% Number: (PITI)

This number indicates the maximum percentage of your monthly gross income that the lender will allow for housing expenses. The amount will include payments on the loan principal and interest, private mortgage insurance, hazard insurance, property taxes, and homeowner's association dues.

The 36% Number:

This number is for the recurring debt.  This is the maximum percentage of your monthly gross income that the lender will allow for housing expenses.  Recurring debt includes credit card payments, child support, car loans, and other obligations that will not be paid off within a relatively short period of time (6-10 months).

Doing the Math:

Yearly Gross Income = $45,000 / Divided by 12 = $3,750 per month income

$3,750 Monthly Income x .28 = $1,050 allowed for housing expense

$3,750 Monthly Income x .36 = $1,350 allowed for housing expense plus recurring debt.

Chaldeans should keep in mind that not all loans are the same.  For example, the FHA loan ratios are typically 29/41, allowing a higher debt load for both housing expenses and recurring debt.  This translates into FHA allowing $1087 for housing and $1538 for housing plus recurring debt.  For a VA loan, the debt to income ratio should not exceed 41% of your monthly gross income.

2.  No Major Purchase of Any Kind
Even if you feel you can afford a major purchase like a new car, the car payment will impact your ability to purchase a higher valued home.  Remember mortgage companies approve your mortgage based on their guidelines, not yours. Do not get discouraged, however. You should still take the time to get pre-qualified by a lender.

However, if you have not already bought a car, remember one thing. Whenever the thought of buying a car enters your mind, think ahead. Think about buying a home first. Buying a home is a much more important purchase when considering your future financial well being.

3.  Don’t Move Money Around
When a lender reviews your loan package for approval, one of the things they are concerned about is the source of funds for your down payment and closing costs. Most likely, you will be asked to provide statements for the last two or three months on any of your liquid assets. This includes checking accounts, savings accounts, money market funds, certificates of deposit, stock statements, mutual funds, and even your company 401K and retirement accounts.

If you have been moving money between accounts during that time, there may be large deposits and withdrawals in some of them.

The mortgage underwriter (the person who actually approves your loan) will probably require a complete paper trail of all the withdrawals and deposits. You may be required to produce cancelled checks, deposit receipts, and other seemingly inconsequential data, which could get quite tedious.

Perhaps you become exasperated at your lender, but they are only doing their job correctly. To ensure quality control and eliminate potential fraud, it is a requirement on most loans to completely document the source of all funds. Moving your money around, even if you are consolidating your funds to make it "easier," could make it more difficult for the lender to properly document.

So leave your money where it is until you talk to a loan officer.

Oh…don’t change banks, either.

4.  Changing Jobs May Affect Home Buying Power
For most people, changing employers will not really affect your ability to qualify for a mortgage loan. For some homebuyers, however, the effects of changing jobs can be disastrous to your loan application.

Salaried Employees
If you are a salaried employee who does not earn additional income from commissions, bonuses, or over-time, switching employers should not create a problem. Just make sure to remain in the same line of work.  Hopefully, you will be earning a higher salary, which will help you better qualify for a mortgage.

Hourly Employees
If your income is based on hourly wages and you work a straight forty hours a week without over-time, changing jobs should not create any problems.

Commissioned Employees
If a substantial portion of your income is derived from commissions, you should not change jobs before buying a home. This has to do with how mortgage lenders calculate your income. They average your commissions over the last two years.

Changing employers creates an uncertainty about your future earnings from commissions. There is no track record from which to produce an average. Even if you are selling the same type of product with essentially the same commission structure, the underwriter cannot be certain that past earnings will accurately reflect future earnings.

Changing jobs would negatively impact your ability to buy a home.

Bonuses
If a substantial portion of your income on the new job will come from bonuses, you may want to consider delaying an employment change. Mortgage lenders will rarely consider future bonuses as income unless you have been on the same job for two years and have a track record of receiving those bonuses. Then they will average your bonuses over the last two years in calculating your income.

Changing employers means that you do not have the two-year track record necessary to count bonuses as income.

Part-Time Employees
If you earn an hourly income but rarely work forty hours a week, you should not change jobs. There would be no way to tell how many hours you will work each week on the new job, so no way to accurately calculate your income. If you remain on the old job, the lender can just average your earnings.

Over-Time
Since all employers award overtime hours differently, your overtime income cannot be determined if you change jobs. If you stay on your present job, your lender will give you credit for overtime income. They will determine your overtime earnings over the last two years, then calculate a monthly average.

Self-Employment
If you are considering a change to self-employment before buying a new home, don’t do it. Buy the home first.

Lenders like to see a two-year track record of self-employment income when approving a loan. Plus, self-employed individuals tend to include a lot of expenses on the Schedule C of their tax returns, especially in the early years of self-employment. While this minimizes your tax obligation to the IRS, it also minimizes your income to qualify for a home loan.

If you are considering changing your business from a sole proprietorship to a partnership or corporation, you should also delay that until you purchase your new home.

5. Delay Buying a Home in Certain Circumstances
Assuming you have the financial resources and the desire to eventually own your own home, there are very few good reasons to put off the purchase. You can miss out on years of appreciation if you do.

The main thing you want to avoid when buying a home is being put in a position where you will have to sell it too soon. If you have to sell a home before it has appreciated enough to cover the costs and commissions of selling, you could find yourself in a financial bind. This is especially true for those who buy a home with a down payment of ten percent or less.

Real Estate commissions traditionally run around six percent of a home’s sales price. The seller’s closing costs generally come to about one and a half percent. You can see how this can easily exceed the first year’s appreciation. If you made a minimal down payment, you could actually have to come up with cash out of pocket to sell your home.

New to the Area
Chaldeans are becoming more mobile and moving from one state to another.  Especially in Michigan where the economy has become deplorable and with governor Granholm talking about raising taxes the state can expect harsher economic conditions.  

Before moving into a new state you might want to get as much information as possible.  If it is another strongly concentrated Chaldean state you might want to contact the nearby church and speak with members of the parish council to get some insight. 

It makes sense to rent for a number of months before deciding on exactly where you want to live.  Taking out an ad in the church newsletter or contacting a realtor in the area to help identify a rental option before purchasing a new home is always a very smart move.  

Uncertain Job Future
You could be right out of college or expecting a promotion and a transfer. Or your company has announced an impending "restructuring." If any of these apply, it might be best to wait to buy a home. When you have a more accurate picture of what your next few years will be like, that will be the time to buy.

Marital Problems
Real estate agents see a lot of life unfold before their eyes. One of the saddest occurs when former clients divorce and are forced to sell a recently purchased house. It happens all too often when a family in turmoil decides that buying a new home may help resolve their problems. Perhaps it is inevitable that such problems occur, but selling a home before it appreciates can create an additional financial burden in an already difficult situation.

 


 

 Salam Abbo is a Century 21 realtor, who has achieved the prestigious 10 million dollar sales club.  The sales club honors realtors who have demonstrated leadership in real estate measured by their sales.  Mr. Abbo lives and works in Michigan with real-estate partnerships in Chicago, Phoenix, and San Diego.  Mr. Abbo has been married for over 25 years and has three college educated children.