Affordable Homes in Florida

Many people assume they aren’t rich because they don’t earn enough money. If I only earned a little more, I could save and invest better, they say.

The problem with that theory is they were probably making exactly the same argument before their last several raises. Becoming a millionaire has less to do with how much you make, it’s how you treat money in your daily life.

The list of reasons you may not be rich doesn’t end at 10. Caring what your neighbors think, not being patient, having bad habits, not having goals, not being prepared, trying to make a quick buck, relying on others to handle your money, investing in things you don’t understand, being financially afraid and ignoring your finances.
Here are 10 more possible reasons you aren’t rich:

You care what your car looks like: A car is a means of transportation to get from one place to another, but many people don’t view it that way. Instead, they consider it a reflection of themselves and spend money every two years or so to impress others instead of driving the car for its entire useful life and investing the money saved.

You feel entitlement: If you believe you deserve to live a certain lifestyle, have certain things and spend a certain amount before you have earned to live that way, you will have to borrow money. That large chunk of debt will keep you from building wealth.

You lack diversification: There is a reason one of the oldest pieces of financial advice is to not keep all your eggs in a single basket. Having a diversified investment portfolio makes it much less likely that wealth will suddenly disappear.

You started too late: The magic of compound interest works best over long periods of time. If you find you’re always saying there will be time to save and invest in a couple more years, you’ll wake up one day to find retirement is just around the corner and there is still nothing in your retirement account.

You don’t do what you enjoy: While your job doesn’t necessarily need to be your dream job, you need to enjoy it. If you choose a job you don’t like just for the money, you’ll likely spend all that extra cash trying to relieve the stress of doing work you hate.

You don’t like to learn: You may have assumed that once you graduated from college, there was no need to study or learn. That attitude might be enough to get you your first job or keep you employed, but it will never make you rich. A willingness to learn to improve your career and finances are essential if you want to eventually become wealthy.

You buy things you don’t use: Take a look around your house, in the closets, basement, attic and garage and see if there are a lot of things you haven’t used in the past year. If there are, chances are that all those things you purchased were wasted money that could have been used to increase your net worth.

You don’t understand value: You buy things for any number of reasons besides the value that the purchase brings to you. This is not limited to those who feel the need to buy the most expensive items, but can also apply to those who always purchase the cheapest goods. Rarely are either the best value, and it’s only when you learn to purchase good value that you have money left over to invest for your future.

Your house is too big: When you buy a house that is bigger than you can afford or need, you end up spending extra money on longer debt payments, increased taxes, higher upkeep and more things to fill it. Some people will try to argue that the increased value of the house makes it a good investment, but the truth is that unless you are willing to downgrade your living standards, which most people are not, it will never be a liquid asset or money that you can ever use and enjoy.

You fail to take advantage of opportunities: There has probably been more than one occasion where you heard about someone who has made it big and thought to yourself, “I could have thought of that.” There are plenty of opportunities if you have the will and determination to keep your eyes open.

by Jeffrey Strain
Printed with permission: TheStreet.Com. All rights reserved.

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Even without conducting scientific studies and surveys, we have all come to recognize the influence of media, particularly entertainment, on our lives. What’s more troubling is that extreme violence and overtly sexual content are quite prevalent in television and movies today and some have grown quite complacent about it. But make no mistake, kids are indeed more receptive to this influence, owing to their age and impressionability. But there are some ways for you and your family to combat the negative effects of entertainment and steer your young ones from unsuitable programs.

First option: censorship. The parental control feature in computers and televisions was installed for very good purpose—use it. There is no reason for you to exercise some parental will and prevent your children from seeing programs and websites that should be viewed by adults only. Charity is not the only value that begins at home, so does having the sense to know what is appropriate or not. The moment we let our kids take total control on what they see, we give them the message that we really don’t care what kind of programs they watch. And that’s the worse kind of message to give them.

Another way to lessen the influence of media on your kids is to encourage them to take up hobbies, preferable an activity that takes them outdoors. This option is not only healthy, it also widens their consciousness and awareness on the kind of entertainment that is totally different from what is provided by the boob tube or the information highway. And if your kid isn’t the sporty type, encourage him or her to take up reading, painting, or any activity they might be interested in and develop passion for. The key here is to introduce another means of entertainment and socialization other than watching television or surfing the internet. When they are mature enough and have kids of their own, they’ll surely understand why.

Of course, don’t just let your kids be immersed in an activity without you taking an active role in it. Take some time off yourself and spend it with your family to bond and enjoy moments together. Most kids would willingly give up watching television or surfing the net to spend some quality time with mom and dad, somewhere outside the home. This is also one way of strengthening family relationships, something that would influence them way more significantly that any form of entertainment.

Entertainment can also be enjoyed by the whole family, whether it’s watching TV or going to the movies. Cultivate open communication between you and your kids so they will feel free to talk to you about anything. This helps lessen outside influence, as you encourage your kids to discuss things that matters to their young lives. Always remind them what they see in movies or online do not always apply to ordinary lives. As a parent, you also have the obligation to understand the things that entertain them and allow them freedom to express their opinion freely. It would not also hurt for you to tell them your fears and worries regarding the kind of TV programs and films being produced today. Let them understand that entertainment media may be prevalent these days but it is always up to the individual to choose what is suitable to see and what is not.

If you want to follow the old adage, “location, location, location” you will want to carefully choose the community first. So what should you look for in the community?

First, you will want to take notice of the pride of ownership in the community, as well as the homes themselves. You will want to look at how well the homes and the yards are maintained in the neighborhood, and you will also want to find a city that overall demonstrates a community pride for their town.

Even if you do not have children, you will want to pay attention to how well the local school system is rated. This will help when it comes to selling your home. Many potential buyers will be concerned about the strength of the school district and what type of schools their children will attend. If you are looking for a house within a great school district, people will often pay a premium to get into a better school district.

When looking at the neighborhood in terms a value, you will want to make sure that you are buying a house that is not too rich or too large for the value of the surrounding homes. A good strategy is to look for the smallest or worst home on the best street in the neighborhood. This will often equal to a good price for that neighborhood and a chance for the homeowner to makes improvements, bringing up the value. Homes in a particular neighborhood should also be about the same size and style so that property values are about equal as well.

Look for homes that are not adjacent to a busy street. This will often cut the value of the property by as much as 10%. And if you are buying a single family home, you want to look for a place that is not next to apartments, businesses, schools, or parks. Another situation to avoid is being on a street that is used as a shortcut between two busy streets.

If you have children, you will want to stay away from corner lots. They attract more traffic and are not safe for children playing in the yard. And ideal spot is in the center of the neighborhood or tucked away on a cul-de-sac.

Considering these tips when buying a home will help you to find not only the best home, but the best neighborhood.

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The developer of The Towers of Channelside, a pair of 29-story luxury condominiums that help define downtown's skyline, has accomplished a rare feat for a condo builder in this economy.

It's emerging from bankruptcy.

The developer reached an agreement with Wachovia Corp. to structure a new loan that will end the Chapter 11 bankruptcy reorganization, said Richard Sacchi, president of The Towers of Channelside LLC.

"We think we're one of the only developers of a downtown condo in bankruptcy that will come out of it," Sacchi said.

The action is unheard of in today's shaky condo market, said Jack McCabe, whose company, McCabe Research & Consulting in south Florida, tracks the industry.

"This is the first commercial loan on a condo project that I'm aware of in which the lender allowed a developer in bankruptcy to emerge, complete the project and proceed with sales," McCabe said.

The deal also comes days after CitiGroup purchased Wachovia, which was struggling under the weight of delinquent adjustable rate loans.

The developer filed for bankruptcy protection in March, after Wachovia cut off its credit. It had sold just 89 of the 257 units, according to documents filed in U.S. Bankruptcy Court in Tampa.

Many of the contracts on units have not closed because buyers backed out, documents said.

Sacchi told the Tribune on Wednesday that 16 additional units have sold since the bankruptcy filing and that he expects to sell more now, since it is shedding the stigma of bankruptcy.

"Some buyers were scared off, fearing that we'd go under," he said.

The company listed debt between $50 million and $100 million and assets of between $100 million and $500 million in Chapter 11 documents. It said the lender refused to allow the company to draw the remaining amounts available under its loan. Wachovia is owed about $58 million, according to court documents.

At the peak of the housing boom, more than two dozen condominiums were planned in and around downtown Tampa. A handful of the condos opened and some other developers either have stalled or canceled projects.

Four other developers either have filed for bankruptcy or walked away from projects.

• SimDag LLC, the Tampa developer of the proposed 52-story Trump Tower Tampa, filed for Chapter 11 bankruptcy protection in June. On Monday, the developer reached a mediation agreement with Donald Trump that would end the licensing agreement that would have given the tower the Trump name.

• Tampa developer Key Developers Group LLC filed for Chapter 11 bankruptcy reorganization in March after some buyers backed out of contracts to buy units at The Place at Channelside. The unsold condos at the 245-unit building are scheduled for auction this month.

• The developers of the Ventana condominiums in the Channel District agreed in June to turn ownership over to the project's lender instead of filing for bankruptcy.

• Tampa Condo 2 LLC, the developers of the proposed 472-unit Tampa Condo II, filed to reorganize under bankruptcy in March. The company is a subsidiary of Daytona Beach-based Amon Investments LLC.

By SHANNON BEHNKEN, Tampa Tribune

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Yes, the Dow is plunging lower and lower every day and yes people are losing money and investments left and right, but the real estate market is not dead. When it comes to buying and selling real estate, the lower the Dow falls the lower the home prices fall and the better deal a home buyer can find on the market.

While there may be a bit of trouble finding mortgage financing for home buyers with less than stellar credit scores, the mortgage market for buyers with above average credit ratings is fairly unchanged, aside from the huge price reductions that is. The home prices all over the United States are falling at a rate faster than ever before and those potential home buyers who were waiting for the perfect deal are primed to buy, buy, buy.

In order to make the sale and make it fast, the real estate agent needs to understand that the market is full right now of available homes. Never has the cliché phrase, “It s buyer’s market!” ever been so true. So what do you need to do to sell a home when there are hundreds just like the ones you are showing within a small mileage radius, offer the buyer more!

Real estate agent package deals are a great way to boost your home sales. Many people are buying right now for investment purposes only. Offering the home buyer a free rental listing with your real estate group, a free rental open house or some other FREE service is one way to stand out among the other home sellers. With so many available homes on the market it is hard to find that inside track without offering something for nothing.

In the long run, the real estate agent that offers the best services to the home buying client will be the one that closes the sale. The dropping DOW, the dropping bank account balances and the increasing home inventory means thinking in a unique and FREE way in order to sell a home.

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