Archive for December, 2009

Apartment 101: A Guide To Apartment Shopping

“When looking for the perfect apartment there are several things you will want to keep in mind. The main factors to consider when apartment hunting include:

The cost of the apartment
Your freedom to decorate the apartment
The terms of the apartment lease
The neighborhood in which the apartment is located
The available amenities
Transportation and parking options
Appliance options
Pet rules

Some of these factors may be more important to you than others. Nonetheless you should take each of these into consideration before committing yourself to a new apartment.

The Cost of the Apartment

Of course the rent is the most important factor you must take into consideration when shopping for an apartment. The best deals are those that include utilities as well. That way you will only have to make one payment each month and all of your housing costs are cared for. Other factors to consider include the amount of the deposit and how much of it is refundable.

Decorating the Apartment

If you want to personalize the apartment and make it home you will want to rent from a landlord that will allow you to do a bit of decorating. This may including painting the walls hanging shelving and making other minor changes to the appearance of the apartment. Be sure to discuss this ahead of time with the landlord if it is important to you.

The Terms of the Lease

Even if you get a great rental rate on the apartment you dont want to sign a lease that is going to commit you for several years. After all if you were looking to live in one place for several years you would like be more interested in purchasing your own real estate rather than renting an apartment. Similarly take the time to read all of the fine print so you dont get yourself stuck in a bind.

Considering the Neighborhood

Location is always an important consideration in the world of real estate even if you are not looking to actually buy the property. After all you are going to spend a great deal of time in your apartment. Therefore you want to be certain to choose one located in a neighborhood where you feel safe and where you can enjoy yourself.

Living the Good Life with Amenities

Amenities may not be a great concern to you. But many apartments do offer amenities that can be quite attractive. Some of these include fitness centers pools and more. If you are not interested in these amenities dont pay extra for an apartment that has them.

Getting Around

While the apartment is not likely to have its own built in transportation system you should keep an eye out for one that is nearby to various transportation options if you do not have your own car. If you do have a car find out about parking options available to apartment tenants.

Updating Your Appliances

In addition to considering the appliances that come with the apartment rental you should also consider your options. For example if the kitchen does not come with a dishwasher but you would like to have one you want to make sure you can hook one up in the apartment.

Keeping Pets in the Apartment

Even if you are not a petowner you might want to look into whether or not pets are allowed. If you are not a pet lover or if you suffer from danderrelated allergies you might want to stay clear of those apartment buildings that allow pets.

By carefully considering each of these factors you should be able to successfully find an apartment to suit your needs while remaining within your budget.

About the writer:  Kinan Beck is the Broker and coowner of One Source Realty in Austin Texas. Visit Kinans Austin apartment Guide visit his Austin Apartment companys website his Austin Texas apartment website. He has seen considerable success in real estate and looks forward to many more years in the business.

What Are Interest Only Mortgage Loans?

Refinancing may be a good financial decision if you can seize its benefits but sometimes its benefits may fade due to external or internal factors. So in order to see if refinancing will be to your advantage you need to know what the real benefits of refinancing are and how and when they can be obtained.

There are many financial implications associated with home loan refinancing. There are also many variables to consider both internally loan terms and externally financial situation market conditions etc. before going for a refinance mortgage loan. The following benefits may or may not apply to you according to your financial situation and the terms of your currentmortgage loan:

How Does Refinancing Affect Your Finances

There are many advantageous situations you can enjoy by refinancing your home loan. However you need to be careful because alterations to the loan terms may result in a worsening of your financial stance. Lets analyze some examples of how a refinance loan may affect some financial variables positively or negatively:

Debt to Income ratio is the share of your income that is compromised towards debt payments. An increase on this ratio affects your finances negatively and diminishes your ability to get finance. Refinancing your home loan for a shorter repayment program or a higher interest rate will affect this variable negatively while refinancing for a longer repayment program or a lower interest rate will affect the variable positively.

Debt Exposure is the amount of money you owe on any given time. Short term debt and long term debt are not a problem as long as they are spread evenly and you do not have too much debt due on a short period of time whether it is soon or in many years. Refinancing your mortgage loan and extending or shortening the repayment program can either affect your debt exposure positively or negatively according to your remaining debt situation. If by refinancing you accumulate too much debt on any given time your debt exposure will worsen.

Lowering Monthly Payments To Cancel Higher Rate Debt

Refinancing for a higher interest rate is not always a bad exchange if you get a longer repayment program and lower monthly payments because you can use the surplus of your income to repay other debt that will probably have an even higher interest rate than that of the new refinance home loan. As you can see what otherwise would be increasing your overall debt may reduce it if you have other more expensive debt. So if you have unsecured debt with high interest rates refinancing with a higher interest rate but lower monthly payments will free a portion of your income and let you use it for canceling your unsecured and more expensive debt.

Cash Out For Personal Purposes

Another benefits you can obtain from a refinance home loan is cheap financing for personal purposes. By refinancing for a higher amount than your outstanding mortgage you can get cash out from the new loan and use it for whatever you want. It is a cheap source of finance as long as your current mortgage does not have significantly more advantageous terms.

About the writer:  Amanda Hash is an expert financial consultant who specializes in helping people to recover their credit and get approved for home loans car loans personal unsecured loans unsecured credit cards refinance home loans consolidation loans student loans and other financial products. If you want to learn more on how to get approved for Credit Loan Unsecured and Fast Cash Loans just visit http://www.yourloanservices.com/ and you’ll find all the information you need.

Top 10 Most Expensive Homes In The United States

A 135 million home tops the list of the most expensive homes for sale in America. Forbes.com compiled a list of the world’s most valuable homes on the market for the year 2007. The following are the top ten of America’s priciest mansions pulled out from the Forbes list. Interestingly six of the top ten of the world’s most expensive homes in 2007 are American.

The top 10 most expensive homes for sale in the United States in 2007 are:

1. Hala Ranch Aspen Colorado 135 million: This 95acre ranch estate consists of an expansive 56000squarefoot mansion with 15 bedrooms and 16 bathrooms. America’s priciest mansion owned by Prince Bandar bin Sultan bin Abdul Aziz former Saudi Arabian ambassador to the United States also boasts several smaller buildings stables a tennis court an indoor pool a steam room an exercise room crosscountry ski trails and a fishing pond.

2. Fleur de Lys Beverly Hills California 125 million: Modeled after the palace of Louis XIV at Versailles this 45000squarefoot Beverly Hills mansion is priced at 125 million making it the second most expensive home in the U.S. It had taken five years to complete this palatial home.

3. Maison de L’Amitie Palm Beach Florida 125 million: Previously owned by former health care magnet Abe Gosman the home was purchased by New York billionaire Donald Trump in 2004 at a bankruptcy auction for 41.25 million. Now refurbished the mansion featuring a ballroom conservatory a 100foot swimming pool and 475 feet of oceanfront is on the market for sale for 125 million.

4. Tranquility Lake Tahoe Nevada 100 million: This expensive mansion sitting on a sprawling 210 acres is located on the taxfree Nevada side of Lake Tahoe. The property is owned by Joel Horowitz the cofounder of Tommy Hilfiger. The 20000squarefoot main house is modeled after a northern European mountain home. The Lake Tahoe house boasts of several luxuries such as a 3500bottle wine cellar a giant indoor swimming pool and atrium and a 19seat movie theater.

5. Three Ponds Bridgehampton New York 75 million: This home designed by architect Allan Greenberg is located amidst three lakes on 60 acres of Hamptons farmland. It features its own USGArated Rees Jones golf course 14 gardens a 75footlong swimming pool golf pro shop grass tennis court and a guest house. The main house has a great room with a domed ceiling 28 foot high.

6. The Portabello Estate Corona del Mar California 75 million: This modern estate home built in 2002 is located on a triple oceanfront lot along the Pacific Ocean. The 30000squarefoot home features eight bedrooms and 10 full baths.

7. Malibu California 75 million: This is a beach home with a difference. Located on a flat sevenacre lot the beach house is surrounded by picturesque ocean views. It features seven bedrooms two riding stables a riding ring swimming pool tennis court and private access to the beach.

8. The Pierre Penthouse New York City 70 million: The eight most expensive home in the U.S. is a penthouse with balconies and windows that offer 360degree views of Manhattan Central Park the East River and the Hudson River. Consisting of the top three floors of one of the grandest hotels in New York the Pierre is located overlooking Central Park. The penthouse features a grand salon that has a 23foot high ceiling.

9. Belvedere California 65 million: This 10000squarefoot home California home features sixbedrooms herringbone floors marble baths and front gates designed by Hearst Castle architect Julia Morgan. The home offers the combined beauty of the scenic San Francisco Bay Angel Island and the Golden Gate Bridge.

10. San Francisco 65 million: This limestone palace is on the market for 65 million. It was sold for 32 million two years ago. It is significant that the limestone that the Gold Coast palace is clad in comes from a single quarry in France. Among the elite billionaires’ row neighbors are the Getty family. The mansion features European windows and the guest house has a 19thcentury Italian tile roof.

About the writer:  None