Saturday, September 20, 2014
Top Entrepreneur News

Fri, 19 Sep 2014 23:00:00 -0500

These game changers have the right skills, the right process and the right heart.

Fri, 19 Sep 2014 22:00:00 -0500

People and money are the two constants regardless of what a company sells. Keeping tabs on the comings and goings of both is indispensable.

Fri, 19 Sep 2014 21:47:00 -0500

The millionaire real-estate mogul doesn’t let dyslexia hold her back. She uses it to fuel her famously feisty entrepreneurial fire.

Fri, 19 Sep 2014 21:45:00 -0500

Don't panic but respond appropriately and respectfully. Follow these practices to avoid audits beyond those random selections.

Fri, 19 Sep 2014 21:34:00 -0500

In a talk at Columbia University, the PayPal co-founder and venture capitalist discussed why startups need to go 'beyond professionalism.' But that may be the problem.

Fri, 19 Sep 2014 21:30:00 -0500

These programs are a gift and can be adapted to fit your needs at a low cost.

Fri, 19 Sep 2014 21:00:00 -0500

Utilizing social-media data in your content-marketing efforts can provide a fresh and creative twist to online advertising.

Fri, 19 Sep 2014 20:45:00 -0500

Innovation in an industry like construction can pose a challenge to entrepreneurs. Here's how to break through.

Fri, 19 Sep 2014 20:30:00 -0500

No matter how much training or talent you have on your team, engagement is one of the most powerful tools any team member and business can have.

Fri, 19 Sep 2014 20:18:00 -0500

Animal rights activists released a graphic video showing workers whipping, kicking and punching cows at a farm responsible for the cheese at Domino's, Pizza Hut and Papa John's.

Fri, 19 Sep 2014 20:14:00 -0500

In trying to mute the criticism of the NFL's response to abuse cases, commissioner Roger Goodell showed surprisingly bad judgment.

Fri, 19 Sep 2014 20:00:00 -0500

The photo-centric social media platform is well suited for reaching younger customers who define what the larger audience seeks from content marketing.

Fri, 19 Sep 2014 19:45:00 -0500

Engaged employees might be more prone to offer just the right touch to customers, boosting satisfaction all round. Consider job rotation as a workplace enhancement.

Fri, 19 Sep 2014 19:30:00 -0500

When we teach our children the value and fragility of their personal reputation they learn who they are, regardless of what others think.

Fri, 19 Sep 2014 19:15:00 -0500

Even as technology makes it easier to connect, communication is disjointed. Fake friendships abound. Nonetheless, genuine ties can be forged in business and leisure.

Fri, 19 Sep 2014 19:00:00 -0500

Chances are you’re not maximizing one of the easiest routes to communicate vital information to your customers.

Fri, 19 Sep 2014 19:00:00 -0500

As content has become the currency of the modern sales professional, there’s a content format that’s proving incredibly valuable for those who want to stand out.

Fri, 19 Sep 2014 18:51:00 -0500

Initially priced at $68, shares of the Chinese tech titan opened at $92.70 this morning in what is officially the largest U.S.-based IPO of all time.

Fri, 19 Sep 2014 18:30:00 -0500

A patient, systematic program to improve your underperformers is the quickest and least expensive way to improve company results.

Fri, 19 Sep 2014 18:19:20 -0500

The line of people out front of Apple's flagship store was completely ridiculous.

Fri, 19 Sep 2014 18:00:00 -0500

Implementing strong client boundaries helps keep everyone focused.

Fri, 19 Sep 2014 17:45:00 -0500

Many companies are investing in Facebook campaigns despite changes to its organic reach.

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

The creation of innovative products and processes is much too important to companies and entire economies to be left to chance.

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

See the life of Apple's innovative, brilliant founder in a picture timeline.

Fri, 19 Sep 2014 17:23:00 -0500

The lone visionary is the ideal of entrepreneurial mythology but one of the world's largest tech companies has done notably well with bifurcated leadership.

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

Most entrepreneurs have lots of ideas but few of them are able to successfully execute that one idea that makes all the difference.

Fri, 19 Sep 2014 16:30:00 -0500

Your business might be small, but its look and feel doesn’t have to be. Hiring outside help is quick and effective.

Fri, 19 Sep 2014 16:15:00 -0500

The site's most popular stars are being paid to produce new content as other channels seek to court them.

Fri, 19 Sep 2014 16:08:00 -0500

The popular photo-sharing platform will no longer shut down.

Fri, 19 Sep 2014 16:00:00 -0500

It’s important for leaders to set the 'organizational guardrails' that foster a single, uniformed direction.

Fri, 19 Sep 2014 15:54:00 -0500

Home Depot's cyberattack put 56 million credit cards at risk, significantly more than Target's breach.

Fri, 19 Sep 2014 15:30:00 -0500

It's not so much what the best marketers know but how they view the elements of the campaign.

Fri, 19 Sep 2014 15:04:00 -0500

With the announcement of Larry Ellison's stepping down, here are three tips for companies considering having co-ceos.

Fri, 19 Sep 2014 15:00:00 -0500

How does any entrepreneur know what ventures to pursue, and which ones are best left behind?

Fri, 19 Sep 2014 15:00:00 -0500

Empire-building lessons from one of the world's most entrepreneurial chefs.

Fri, 19 Sep 2014 14:30:00 -0500

If you thought you needed more charismatic friends to have a social-maven driving your sales, think again.

Fri, 19 Sep 2014 14:15:00 -0500

RocketSpace CEO and founder Duncan Logan shares how space and one’s peers impact a company’s final product.

Fri, 19 Sep 2014 14:15:00 -0500

Clear out the mental clutter and the day’s distractions to focus on what you think is important.

Fri, 19 Sep 2014 14:00:00 -0500

With traditional retailers merging and ecommerce startups growing quickly, this particular industry isn't getting much sleep these days.

Fri, 19 Sep 2014 13:30:00 -0500

According to estimates, the country is second to Silicon Valley for new companies. Here are three things that may be driving that.

Fri, 19 Sep 2014 13:19:00 -0500

This new social network makes sure you’re rubbing virtual elbows with people as well-to-do as you are. The cost to join: $9,000.

Fri, 19 Sep 2014 13:00:00 -0500

The recently-deceased comedian taught a brilliant lesson about personal branding that we should all take to heart.

Fri, 19 Sep 2014 13:00:00 -0500

Check out the news business owners need to know for the week that was.

Fri, 19 Sep 2014 12:30:00 -0500

If you aspire to be a successful entrepreneur, the only way you're going to achieve that is by focusing on one thing and doing it better than anyone else.

Fri, 19 Sep 2014 12:00:00 -0500

I was always aggressive and relentless -- until a series of Zen-like moments helped me move to a different level that changed how I operated.

Fri, 19 Sep 2014 11:30:00 -0500

Looking for a way to support her six kids as a single mom, Nusha Pelicano discovered Orange Leaf Frozen Yogurt by chance.

Thu, 18 Sep 2014 23:00:00 -0500

AdWords is such a powerful advertising medium that people think they can't get it wrong. That's a serious error.

Thu, 18 Sep 2014 22:30:00 -0500

You’re only as good as the number of people using and, more importantly, paying for what you built.

Thu, 18 Sep 2014 22:00:00 -0500

Why get a personal secretary when your smartphone can organize your day, your minutes, your business trips and even your clutter?

Thu, 18 Sep 2014 21:30:00 -0500

The best way to tell somebody how to do better is to begin by telling them what they are doing well.

Thu, 18 Sep 2014 21:21:00 -0500

For this billionaire entrepreneur, work is the breakfast of champions.

Thu, 18 Sep 2014 21:15:00 -0500

A real estate executive realizes that by finding a perch to work inside each of her company's branch offices, she can be more effective and build more productive relationships.

Thu, 18 Sep 2014 21:00:00 -0500

The non-profit, along with businesses, can utilize three secrets of customer-relationship management software to effectively follow up on leads.

Thu, 18 Sep 2014 20:33:00 -0500

Virtual reality, take me away. Because overpriced in-flight cocktails and noise-cancelling headphones aren’t enough anymore.

Thu, 18 Sep 2014 20:33:00 -0500

The company's co-founder will move to the board of directors. Two co-CEOs have been named to replace him.

Thu, 18 Sep 2014 20:30:00 -0500

One entrepreneur explains how she was able to get the perfect URL for her startup and what lessons she learned along the way.

Thu, 18 Sep 2014 20:14:00 -0500

…But it sure makes life easier, the self-made billionaire says. Why? With it comes freedom.

Thu, 18 Sep 2014 20:00:00 -0500

Recreate the rhythms of your long years of schooling to succeed in the marathon of building your business.

Thu, 18 Sep 2014 20:00:00 -0500

Advance your company’s legacy by transforming it. Tread carefully with key constituency groups.

Thu, 18 Sep 2014 19:54:00 -0500

Americans are obsessed with their Internet, which makes it sting all the worse that the companies that provide Internet are expensive, unresponsive and because of their relative monopoly, in no hurry to improve their operations.

Thu, 18 Sep 2014 19:45:00 -0500

The high stakes make this type of transaction entirely unique. Know how to proceed wisely.

Thu, 18 Sep 2014 19:30:00 -0500

Sticky social situations can unglue the surest business deal. Here’s how to make sure they don’t.

Thu, 18 Sep 2014 19:15:00 -0500

The Amazon founder's Blue Origin aerospace outfit will develop rocket engines for the United Launch Alliance -- a joint venture between Lockheed Martin and Boeing that creates spacecraft for the U.S. government.

Thu, 18 Sep 2014 19:15:00 -0500

Prompt everyone to contribute their ideas to have a richer harvest.

Thu, 18 Sep 2014 19:00:00 -0500

It can be stressful when you have to make important decisions regarding your business. But to get ahead of the game, it is a necessity.

Thu, 18 Sep 2014 18:56:00 -0500

The online retailer reportedly outbid Google and two other companies that had their eye on the new and valuable generic top-level domain.

Thu, 18 Sep 2014 18:45:00 -0500

Here's to a broader, more generous definition of the oft-used career term.

Thu, 18 Sep 2014 18:39:00 -0500

Next month, the city will start charging renters a 14 percent occupancy tax on behalf of its hosts.

Thu, 18 Sep 2014 18:30:00 -0500

As the leader, barking orders, stealing the spotlight and enforcing your own agenda isn't the way to get employees excited about working with you.

Thu, 18 Sep 2014 18:15:00 -0500

You may never hop out of morning with a smile plastered on your face, but you can make it a bit easier.

Thu, 18 Sep 2014 18:15:00 -0500

Our experts explain how positioning yourself as an expert can help maximize your site for search.

Thu, 18 Sep 2014 18:00:00 -0500

Pay-per-click marketing is fraught with confusion, mistakes and a lot of wasted cash. But when you get it right, PPC can be indispensable. Here’s some insight and some tips.

Thu, 18 Sep 2014 17:48:00 -0500

Vietnamese sandwich concept Banh Shop promises to change its logo after Vietnamese-Americans called out Taco Bell's parent company for the red star design.

Thu, 18 Sep 2014 17:30:00 -0500

If accepted into an program, it means mentorship, classes and training from those who have been there and done that.

Thu, 18 Sep 2014 17:05:00 -0500

Digital sales are on the decline in the country, while CD sales are still going strong.

Thu, 18 Sep 2014 17:00:00 -0500

You might not know it right now, but once you discover it, it’s time to take on your quest.

Thu, 18 Sep 2014 16:53:00 -0500

As Apple continues to investigate its own high-profile hack, CEO Tim Cook wrote an open letter to customers assuring their private data is safe.

Thu, 18 Sep 2014 16:33:00 -0500

The vast record of information stored on Apple devices will only be available to users who possess a four-digit passcode.

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

You've most likely encountered them while conducting business: Those who just talk without taking actions. Here are some tips to deal with them.

Thu, 18 Sep 2014 16:12:00 -0500

Included are two devices under $100 as well as an all-new operating system, called 'Sangria.'

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

Think proven concept, not big brand, when buying a franchise.

Thu, 18 Sep 2014 15:52:00 -0500

Venture capitalist Peter Thiel's recent comments about marijuana use at Twitter underscore a more widespread problem.

Thu, 18 Sep 2014 15:40:00 -0500

The new functionality will allow users to deepen their connection with funders, in addition to giving them a way to keep raising money, the company says.

Thu, 18 Sep 2014 15:30:00 -0500

New product and service concepts are stifled by the process of taking them to market. If you can prove a demand, however, the next steps become much less intimidating.

Thu, 18 Sep 2014 15:00:00 -0500

Entrepreneurs need to be stoic about the long odds against a new business thriving but it's also true that the greatest successes of our time started small.

Thu, 18 Sep 2014 15:00:00 -0500

A new book highlights how executive presence and gravitas can bridge the gap between performance and success.

Thu, 18 Sep 2014 14:45:00 -0500

For extraordinary results, test, measure, tweak. Don't stop.

Thu, 18 Sep 2014 14:00:00 -0500

It is nearly rude not to examine all the social-media clues we glean about people with whom a good relationship is important.

Thu, 18 Sep 2014 13:30:00 -0500

A silent drag on many organizations is employees who feel disconnected from company decision making and inhibited bringing problems to light.

Thu, 18 Sep 2014 12:30:00 -0500

It starts with changing your mindset, then following through with consistent action.

Thu, 18 Sep 2014 12:00:00 -0500

A recent Gallup poll proclaimed that social media marketing has little effect on whether people buy products, but it may not tell the whole story.

Thu, 18 Sep 2014 11:30:00 -0500

When Nathan Coombs retired from the military, DreamMaker Bath and Kitchen's company culture convinced him that the franchise was the right fit.

Thu, 18 Sep 2014 11:00:00 -0500

The entrepreneurs behind footwear startup Jack Erwin had no experience in shoes. Now, they're steering a million-dollar shoe brand.

Wed, 17 Sep 2014 22:15:00 -0500

A new CEO seeks to make dramatic changes without disarming the staff. Here's what he did.

Wed, 17 Sep 2014 22:00:00 -0500

These folks, while sometimes underappreciated, forge the links and tell the stories.

Wed, 17 Sep 2014 21:30:00 -0500

When a court case threatens your business, consider taking the following steps.

Wed, 17 Sep 2014 21:12:00 -0500

Your ability to earn customer trust is what’s going to separate you from the competition -- so don’t slack.

Wed, 17 Sep 2014 21:00:00 -0500

If you want to be competitive, your product better look great and be intuitive.

Wed, 17 Sep 2014 20:45:00 -0500

To scale rapid growth within an organization, emerging leaders must be actively identified and developed.

Wed, 17 Sep 2014 20:30:00 -0500

To get ahead of the competition, find the customers that will be most interested in your product or service.

Sat, 20 Sep 2014 03:03:00 -0500

Fiksu's initial analysis shows the iPhone 6 and 6 Plus usage trending very well vs. previous iPhone launches.

Fri, 19 Sep 2014 16:18:00 -0500

The largest IPO in US history has put a new person on top of China's richest.

Fri, 19 Sep 2014 14:29:00 -0500

Understanding your process is the first step in getting more done.

Fri, 19 Sep 2014 11:54:00 -0500

Apple has taken its time to join the rest of the smartphone world in providing a large-screened mobile. With the announcement of the iPhone 6 Plus by Tim Cook and his team last week, Cupertino has finally entered the fray. Has Apple sacrificed too much of their own DNA to get their phablet to market?

Fri, 19 Sep 2014 11:42:00 -0500

The iPhone 6 is the best iPhone yet, but it isn't perfect.

Thu, 18 Sep 2014 23:45:00 -0500

It’s easy to mislead yourself into thinking that if you just had the success you wanted, you’d never doubt yourself again. But it actually works in reverse. You must first act with the self-confidence you aspire to have. So what are five ways you can banish self-doubt and grow the confidence needed to thrive in work and life? Read on.

Thu, 18 Sep 2014 17:43:00 -0500

With iOS 8 now up, running, and destroying iPhone 4s everywhere, some users will be pleased to know that Apple has added a neat little trick to improve battery life. Already a feature on some Android devices (and some half-hearted third party iOS apps), iOS 8 now lets users view a [...]

Thu, 18 Sep 2014 14:52:00 -0500

Over 60% of professionals surveyed are neglecting these 5 critical career-building steps.

Thu, 18 Sep 2014 12:30:00 -0500

Do you own an iPhone 5, 5C or iPhone 5S? Are you considering upgrading to the iPhone 6 or iPhone 6 Plus? Read on.

Wed, 17 Sep 2014 20:53:00 -0500

Visit almost any anti-GMO website and you will find alarming headlines about the alleged dangers of GMO foods. They kill pigs, cows and sheep on farms and in lab studies! Humans are next! "Monsanto’s GMO Feed Creates Horrific Physical Ailments in Animals," screams a typical article, in AlterNet, a popular anti-GMO site. It [...]

Latest News & Information

Current Articles | Archives | Search

5 Chaldean Home Buying Power Tips
By Salam Abbo :: Wednesday, March 14, 2007 :: 10487 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.