Thursday, April 17, 2014
Top Entrepreneur News

Fri, 18 Apr 2014 03:36:00 -0500

The American food manufacturer has made an unprecedented sneaky, (anti)social media move to keep itself out of court.

Fri, 18 Apr 2014 03:30:00 -0500

A recent court ruling finds companies aren't protected from suits by public figures if corporate ads feature them without prior consent.

Fri, 18 Apr 2014 02:25:00 -0500

Facebook's latest feature allows you to see which of your friends are near your physical location in real time.

Fri, 18 Apr 2014 02:20:00 -0500

Boston Pizza customers can now vote on whether the chain should begin selling a Pizza Cake, a gas-powered pizza cutter or a pizza air freshener.

Fri, 18 Apr 2014 01:40:00 -0500

According to a new Pew study, if you're like a lot of Americans, you'd like to own something that gets you places faster, lets you time-travel or somehow prolongs your life.

Fri, 18 Apr 2014 01:30:00 -0500

The White House has made April National Financial Capability Month.

Fri, 18 Apr 2014 01:13:00 -0500

Follow these tips for determining a price that makes you a profit without gouging your customers.

Fri, 18 Apr 2014 01:03:00 -0500

If you’re thinking of quitting Facebook, get in line.

Fri, 18 Apr 2014 01:00:00 -0500

Before Americans start celebrating a drop in the number of uninsured, you first have to look behind the numbers.

Fri, 18 Apr 2014 00:30:00 -0500

For nonprofits, fundraising isn't just about the 'ask.'

Fri, 18 Apr 2014 00:24:00 -0500

The tech giant's latest mobile operating system may boast a song recognition feature in a partnership with Shazam.

Thu, 17 Apr 2014 23:05:00 -0500

The peer-to-peer lending site announced today that, with its acquisition of Springstone Financial, it would be expanding its reach in consumer finance.

Thu, 17 Apr 2014 22:46:00 -0500

No, you're not mean. Just smart. Sometimes it's okay to ignore connection requests on the world's most popular career social networking platform. Here's when you probably should.

Thu, 17 Apr 2014 22:45:00 -0500

Much-coveted shoes are being bartered and sold by high schoolers at sneaker conventions across the country at eye-opening prices, The New York Times reports.

Thu, 17 Apr 2014 22:30:00 -0500

It is a delicate balance to keep your business on track while juggling the responsibility of caring for an aging relative.

Thu, 17 Apr 2014 22:27:00 -0500

The burger chain is eyeing an aggressive expansion plan over the next decade.

Thu, 17 Apr 2014 21:47:00 -0500

Customers expect better communication from brands than ever. Most businesses, though, are not keeping up.

Thu, 17 Apr 2014 21:30:00 -0500

For a small startup, often passion can be more valuable than skills, as mindset can’t be taught but capabilities can.

Thu, 17 Apr 2014 21:00:00 -0500

Three traits that social entrepreneurs and purpose-driven organizations need to thrive.

Thu, 17 Apr 2014 20:48:00 -0500

Coolhaus founder Natasha Case went from selling ice cream sandwiches out of an old postal truck to self-made millionaire. Here's how.

Thu, 17 Apr 2014 20:30:00 -0500

Prepare to meet the mammoth mechanical crab of your nerdiest undersea dreams.

Thu, 17 Apr 2014 20:00:00 -0500

With its business-friendly features and implications for Google search, here's how you can supercharge your page on the network now.

Thu, 17 Apr 2014 19:30:00 -0500

Often entrepreneurs try to cut corners to save costs. But doing so with your legal documents, may end up costing you more down the road.

Thu, 17 Apr 2014 19:30:00 -0500

Business owners should always avoid making excuses, but business coach Lindsay Broder says this one can really annoy your staff.

Thu, 17 Apr 2014 19:00:00 -0500

There is always a reason for deciding not to do something. Here's some advice on how to say no without feeling guilty about it.

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

For small businesses, offering a standout product means understanding what the customer wants -- and delivering it.

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

After years of self-employment, this franchisee wanted to get into business for himself but not by himself.

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

Often entrepreneurs hire people that aren't top-notch, because they need to fill the position quickly. To avoid this problem, they need to plan ahead.

Thu, 17 Apr 2014 17:00:00 -0500

Now is the best time to start creating a local strategy and to start building up your presence on search engine results pages.

Thu, 17 Apr 2014 03:41:00 -0500

Fingers crossed for stylized brunch photos, artsy sunset shots and lots of selfies.

Thu, 17 Apr 2014 03:30:00 -0500

Don't kid yourself. For most new firms launching outside Silicon Valley, developing a startup strategy is essential.

Thu, 17 Apr 2014 03:00:00 -0500

Listening to and truly engaging with customers wherever and however they choose to engage is the new secret to organizational success.

Thu, 17 Apr 2014 02:59:00 -0500

These three browser-based tools will change your life. Or at least streamline it a bit.

Thu, 17 Apr 2014 02:30:00 -0500

Founding or working at a new business can be scary, but each experience can lead to improvements.

Thu, 17 Apr 2014 02:00:00 -0500

Could student sleuths have finally uncovered the true identity the mystery man behind the world's most enigmatic currency? Or is this just another false alarm?

Thu, 17 Apr 2014 01:57:00 -0500

Hot on the heels of the drumstick corsage, KFC is bringing back the super-hyped Double Down.

Thu, 17 Apr 2014 01:38:00 -0500

In a blog post, Microsoft chief Satya Nadella discusses the importance of developing a 'data culture,' where information is dynamically aggregated across every level of the company.

Thu, 17 Apr 2014 01:21:00 -0500

Get your business started on the right foot by choosing workers who are a good fit for your cleaning business and training them properly.

Thu, 17 Apr 2014 01:00:00 -0500

As the debate over net neutrality rages on, here's some basic information about how you might be affected.

Thu, 17 Apr 2014 00:00:00 -0500

Harness the proper tools, do analysis and understand how effectively your organization’s marketing initiatives work together.

Thu, 17 Apr 2014 00:00:00 -0500

After a grim February, restaurants once again ruled as the largest job creators in the franchise sector.

Wed, 16 Apr 2014 23:40:00 -0500

The president is traveling to a community college in Pennsylvania later today where he will announce new initiatives aiming to bolster the U.S. labor force.

Wed, 16 Apr 2014 23:30:00 -0500

Founders often reach a point when they need to hand over the reins to a more experienced person. Here are a few pieces of advice on how to make the transition process easier.

Wed, 16 Apr 2014 22:38:00 -0500

Etsy Wholesale, which debuts in August, will enable makers to sell their creations directly to major retailers -- including Nordstrom and West Elm.

Wed, 16 Apr 2014 22:15:00 -0500

Major manufacturers and wireless carriers have agreed to offer a free opt-in 'kill switch' for smartphones made after July 2015.

Wed, 16 Apr 2014 21:50:00 -0500

Mt. Gox isn't rising from the ashes after all and its customers will likely never see the hundreds of thousands of bitcoins the shattered exchange lost.

Wed, 16 Apr 2014 21:45:00 -0500

If your workstation doesn't fit you, you're in trouble. Here's a quick guide to setting up your workspace for optimal health and productivity.

Wed, 16 Apr 2014 21:00:00 -0500

Partnering with the wrong corporation can spell disaster for a growing social enterprise. Here’s what to consider before getting wed to a new initiative.

Wed, 16 Apr 2014 20:30:00 -0500

Faith and belief drive a lot of what we do. Yet, we are asked to leave our beliefs at the doorstep of our offices.

Wed, 16 Apr 2014 20:11:00 -0500

Drones plus selfies equals dronies. Get used to it.

Wed, 16 Apr 2014 20:00:00 -0500

The small stuff, like answering emails and tweaking your web site design, are important but shouldn't be at the top of your to-do list. Instead, your time would be better spent focusing on the fundamentals.

Wed, 16 Apr 2014 19:30:00 -0500

Professional coach Lindsay Broder on how and why effective business managers need to lead -- and inspire -- by example.

Wed, 16 Apr 2014 19:00:00 -0500

These simple yet powerful business principles will help you win relationships and earn repeat business.

Wed, 16 Apr 2014 19:00:00 -0500

After stints as an advisor at big-name companies, the charismatic entrepreneur and investor is getting back into the startup scene.

Wed, 16 Apr 2014 18:30:00 -0500

With a wealth of experience in corporate management, these Goddard School franchisees knew the right franchisor was key to success.

Wed, 16 Apr 2014 18:30:00 -0500

For our series Ask the Expert, marketing guru Joanna Lord chats about why she decided to dive into marketing and what newbie entrepreneurs can do to create a memorable brand.

Wed, 16 Apr 2014 04:11:00 -0500

The hot-tempered former NFL wide receiver wonders how 'easy’' the complicated cryptocurrency is. Don’t even get us started.

Wed, 16 Apr 2014 04:00:00 -0500

Performance evaluations are critical. They can engage employees deeply to deliver their best effort to a company.

Wed, 16 Apr 2014 03:30:00 -0500

While its hard out there for a female founder, I am not letting it stop me.

Wed, 16 Apr 2014 03:14:00 -0500

The iPhone generation tries to figure out how a Walkman works in this viral video.

Wed, 16 Apr 2014 02:35:00 -0500

The bad-boy founder of the Bitcoin Foundation and BitInstant is back at his mom and dad's place and he's in big trouble for allegedly funneling $1 million into shady Silk Road dealings.

Wed, 16 Apr 2014 02:35:00 -0500

Investors have shown the most interest in dumping their dollars into real-estate deals since the SEC's historic lifting of the general solicitation ban.

Wed, 16 Apr 2014 02:30:00 -0500

Whether you want to start a stand-alone business or add these services to your existing cleaning company, here are eight business ideas you might want to consider in the cleaning industry.

Wed, 16 Apr 2014 01:00:00 -0500

Pluto Mail lets you 'unsend' messages, edit unopened ones and choose a shelf-life for all your email transactions.

Wed, 16 Apr 2014 01:00:00 -0500

Focusing on the long term, keeping your feelings in check and rooting out negative influences can lead to success.

Wed, 16 Apr 2014 00:52:00 -0500

Jobs in science and engineering got top marks from CareerCast in a study that looked at stress, income and room for advancement.

Wed, 16 Apr 2014 00:50:00 -0500

A look at where online shopping is expected to grow the fastest in the next five years and which companies are leading the charge.

Wed, 16 Apr 2014 00:44:00 -0500

This flight attendant could probably double as a standup comedian, with her spiced-up safety announcement garnering over 1.5 million views on YouTube.

Wed, 16 Apr 2014 00:35:00 -0500

The tech company has a new patent application to apply Google Glass's camera feature to contact lenses.

Wed, 16 Apr 2014 00:30:00 -0500

At every stage you'll face expectations to conform to different corporate cultures. You must weigh them against your sense of ethics.

Wed, 16 Apr 2014 00:20:00 -0500

Workers in Belgium, Germany, Austria and Hungary face the highest tax burdens, according to the OECD's annual report on individual income taxes.

Wed, 16 Apr 2014 00:00:00 -0500

With good content and quality links, you can attract more visitors located closer to home and increase your business' sales.

Tue, 15 Apr 2014 23:30:00 -0500

Despite the time saving promise, job seekers may avoid linking their personal accounts due to privacy concerns.

Tue, 15 Apr 2014 23:24:00 -0500

Twitter has snagged six-year-old social data startup Gnip for an undisclosed amount.

Tue, 15 Apr 2014 23:10:00 -0500

As the smart glasses go on sale to the masses, we want to know if it's worth the money -- and the hassle.

Tue, 15 Apr 2014 23:00:00 -0500

Show, don't just tell, to earn downloads.

Tue, 15 Apr 2014 22:55:00 -0500

A new study reveals that low blood pressure depletes our self-control, turning us into aggressive voodoo-stabbing versions of ourselves.

Tue, 15 Apr 2014 22:51:00 -0500

The startup boasts big-name investors and a 22-year-old CEO at the helm, but its much-hyped mobile wallet app still has yet to launch publicly.

Tue, 15 Apr 2014 22:30:00 -0500

When your startup isn't the next Facebook, a first-to-market disruptor or solving some dire pain point, but rather one that is improving on an already successful model, it can be hard to get the attention of the media. But it isn't impossible.

Tue, 15 Apr 2014 22:20:00 -0500

The airline's recent PR nightmare is a reminder to slow down, pay closer attention and think before you tweet.

Tue, 15 Apr 2014 22:00:00 -0500

Investing in training is often an exercise in guesswork. Here are the questions you need to determine if a training model is effective and the right choice for your company.

Tue, 15 Apr 2014 21:30:00 -0500

An entrepreneur discusses how he fell into the trap of equating revenue with profit.

Tue, 15 Apr 2014 21:00:00 -0500

In an ever more competitive advertising world, marketers are increasingly turning to native content to capture the eye of consumers.

Tue, 15 Apr 2014 20:00:00 -0500

Some say the key to creating hundreds of thousands of jobs may soon be on a desktop near you.

Tue, 15 Apr 2014 20:00:00 -0500

Industry leaders worry tax can dampen growth and innovation.

Tue, 15 Apr 2014 19:30:00 -0500

Moving out of startup mode into growth mode? Certified professional coach and Entrepreneur.com contributor Lindsay Broder shares tips on how you can identify those opportunities.

Tue, 15 Apr 2014 19:00:00 -0500

In this podcast, adventurer and leadership professor Alison Levine discusses her personal struggles and the lessons she has learned along the way.

Tue, 15 Apr 2014 18:30:00 -0500

With apps, wearable tech and the ability to micromanage franchisees across the country, tech is giving fitness chains new ways to flex their business muscle.

Tue, 15 Apr 2014 17:00:00 -0500

MTV's new series, which profiles snake venom milkers, beer keg inventors and junk food bloggers, represents the network’s first foray into business-centric content.

Tue, 15 Apr 2014 04:00:00 -0500

All founders can be seen as either artists, entrepreneurs or managers. Often multitasking, they may need in time to choose to focus on their strengths.

Tue, 15 Apr 2014 03:00:00 -0500

Monitor your company's progress on cash flow, investment prospecting, hiring, customers and product development.

Tue, 15 Apr 2014 03:00:00 -0500

Big-name Silicon Valley investors and leaders participated in panel discussion on entrepreneurship -- as well as a 'Shark Tank' of sorts -- at Colgate University this weekend.

Tue, 15 Apr 2014 02:41:00 -0500

The Big G wants in on the global internet-beaming solar drone game and it just scored a high-flying advantage.

Tue, 15 Apr 2014 02:30:00 -0500

Businesses should tweak their plans to inject a more human focus rather than emphasizing steep spending or quick expirations.

Tue, 15 Apr 2014 02:25:00 -0500

The air carrier is planning to make its cabins feel more like ‘sky hotels.’

Tue, 15 Apr 2014 02:00:00 -0500

Tech founder on seeking funds for albums, booking tours and hanging with Dave Grohl.

Tue, 15 Apr 2014 01:30:00 -0500

Get the inside scoop from established cleaning service business owners who share their tips for building a successful cleaning business.

Tue, 15 Apr 2014 00:35:00 -0500

You may have heard of the smart car, but what about a smart highway?

Tue, 15 Apr 2014 00:15:00 -0500

Freelancer.com highlights five booming trends in Internet-related jobs.

Tue, 15 Apr 2014 00:00:00 -0500

If the emotional or economic toll from serving abrasive or low-profit customers outweighs the return, think about an exit strategy.

Thu, 17 Apr 2014 15:07:00 -0500

Popping open a can of Diet Coke, John Chambers sits down to talk in his tiny, windowless conference room just off his rather modest office. Behind him on the wall are 13 framed posters signed by the engineers who created some of Cisco's billion-dollar businesses (a litany of three-letter acronyms that only a geek could love). It's been 19 years that he's been running , the world's largest maker of data networking gear. Chambers would like nothing more than to add a few more posters to the wall before he's gone.

Thu, 17 Apr 2014 14:01:00 -0500

With the Man of Steel sequel about to start shooting in Detroit, fans have been hoping new information about the movie will drop soon, and desperately awaiting the reveal of the new batsuit and Wonder Woman costume. Well, dear readers, I had a chance to speak at length with the film's director Zack Snyder, and we talked about Batman's 75th Anniversary this year, about how he became a Batman fan, about his past film projects... and yes, about the upcoming Batman-Superman-Wonder Woman film.

Thu, 17 Apr 2014 01:06:00 -0500

Measuring the success of social media interactions cannot be done using traditional ROI metrics. The nature of the communication channels involved requires a brand new approach. 

Wed, 16 Apr 2014 21:49:00 -0500

By Rose Jacobs

Wed, 16 Apr 2014 18:54:00 -0500

Business-focused social network , retailer , growing ETF power , cloud-based enterprise software company and 3D-printing outfit don't have much in common. Except for the fact that analysts from Jefferies think all five could see their stocks double over the next two years.

Wed, 16 Apr 2014 18:42:00 -0500

Raleigh, N.C., has built a solid economy around financial services, software and energy, a major retail shipping operation and its renowned Research Triangle.

Wed, 16 Apr 2014 14:01:00 -0500

Back in 2007, Sean “Diddy” Combs teamed with Jay Z and 50 Cent to create a song titled “I Get Money: Forbes 1-2-3 Billion Dollar Remix.” Less than a decade later, rappers are closing in on ten-figure fortunes, and he’s the nearest of the bunch.

Wed, 16 Apr 2014 10:00:00 -0500

The Indiana enginemaker believes deeply in the anachronistic idea that investing in its community is smart business. Could it be on to something?

Tue, 15 Apr 2014 19:35:00 -0500

Walmart's low-wage workers cost U.S. taxpayers an estimated $6.2 billion in public assistance including food stamps, Medicaid and subsidized housing, according to a report published to coincide with Tax Day, April 15.

Tue, 15 Apr 2014 15:27:00 -0500

By Amy Ho    

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5 Chaldean Home Buying Power Tips
By Salam Abbo :: Wednesday, March 14, 2007 :: 9543 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.