The availability of funds in the primary market depends a great deal on the existence of secondary markets. First, mortgage funds are loaned to a homebuyer by a lending institution in the primary market. The mortgage is then sold to a secondary market agency that may, in turn, sell it to other investors in the form of mortgage backed securities. Mortgage backed securities fall into two general types: Bond-type securities and pass through securities. Bond-type securities are long-term, pay interest semi-annually, and provide for repayment at a specified date. Pass through securities, which are more common, pay interest and principal payments on a monthly basis. Some types of pass through securities pay even if payments are not collected from the borrower.

Because a primary lender sold the mortgage, the lender can take the money it receives from the sale and make another mortgage loan, then sell that new loan to the secondary market, and continue the cycle. The secondary market agency can pool the mortgages it buys to create mortgage backed securities, which they then sell to investors. As the secondary market agency sells the mortgage backed securities to investors, it now has more funds to buy more mortgages. It can then create more mortgage backed security pools to sell to investors again, and the cycle continues.

The market is able to function as it does because standardized underwriting criteria are used to qualify borrowers and property. A mortgage will only be purchased by the secondary market if the primary market lender conformed to the secondary market’s underwriting standards. Since lenders want to sell their loans, they must follow the underwriting standards of those agencies. The three largest secondary market agencies are Fannie Mae, Freddie Mac, and Ginnie Mae. Therefore, a conforming loan is typically a loan that conforms to Fannie Mae’s underwriting guidelines. Private companies such as hedge funds and investment banks also participate in the flow of mortgage funds by buying mortgage backed securities. The recent credit meltdown and economic recession was partly due to the buying and selling of mortgage backed securities. Investors borrowed incredible amounts of money and leveraged themselves so dramatically that when the value of mortgage backed securities went down, it was enough to create enormous liquidity problems for the companies and many went out of business (Bear Stearns, Merrill Lynch, etc.). Unfortunately, many of the same dynamics that caused the financial collapse are still in operation today. The secondary market still exists with Fannie Mae (infused with taxpayer money) now buying up to 99% of all loans originated in the United States.

Source by Joe Jesuele

We’ve often described the Northern California Wine Country as a ‘Disneyland for Adults’, but that doesn’t mean you have to leave the children behind. For many people, visiting wineries is only one day of their trip to San Francisco. After all, with all of the attractions it has to offer, the Bay Area is a great destination for the whole family. A daytrip to the scenic counties of Sonoma and Napa provides an opportunity to enjoy a relaxed pace with stunning views, wonderful tours and interesting wineries. The wineries and their gift shops are admittedly more interesting to the adults than the kids, but they will still enjoy the trip because it is, after all, farm country, and what kid doesn’t enjoy that? Sonoma especially takes great pride in their agricultural diversity, so as you travel around you’re going to see a wide variety of plantings, orchards and livestock in between the vineyards.

We’re seeing increasing numbers of children in Wine Country. While it is still a relatively small number, parents are finding ways to make it work. The secret to having a great time together in Sonoma and Napa is to realize that while many wineries are not suitable or enjoyable for children, there are many others that are. Sonoma and Napa have over seven hundred wineries, of which about half can be visited easily so there are plenty to choose from, as well as many other family attractions.

One of the most kid friendly and adult enjoyable destinations is the Plaza in downtown Sonoma. If you’re coming from San Francisco over the Golden Gate Bridge you’ll be at this historic and charming place in a little over half an hour. This is the ‘Philadelphia of California’, because it is the place where the Republic of California declared its independence from Mexico.

It is helpful to know that there are the counties of Sonoma and Napa, and the cities of Sonoma and Napa.

Even though Sonoma is a small city of about nine thousand people, it is big on history. It is the only city in California that enjoys all three of these distinctions; it was an official Pueblo, or city under Mexico, it was a Franciscan Mission (the twenty-first and final), and it was the military headquarters for the entire West Coast under both Mexico and the United States. Around the Plaza, which is the largest in California, there are numerous historic sites as well as nice restaurants and shops. In the Plaza there are great picnic tables near the playgrounds and the newly restored duck pond.

The tourist bureau sits on the Plaza in an old Carnegie Library building and it can provide additional information for a great day with kids. A unique attraction called Train Town is just two minutes back down Broadway, the road that led you to the Plaza. This is a small old-style amusement park suitable for young children up to approximately age ten. There is a small train to ride and a traditional merry-go-round and it harkens back to a time before special effects were digital. There is even a petting zoo.

Around the Plaza are several winery tasting rooms where you can taste some excellent wines without spending all day getting there. Then you can nip back to the playground before moving on to the next winery. Five minutes from the Plaza is one of the Sonoma originals, the Sebastiani Family Winery, with their great old barrel room, one of Sonoma’s best gift shops and some very nice wines for you to sample. They also offer a trolley tour of Sonoma that explains about its wonderful history. Just to the south of town is the Larson Family Winery, on the old Sonoma Rodeo site. This was where the champion race horse Seabiscuit stabled overnight when he was racing on the West Coast. It has a farm-like setting with llamas and sheep. Horse rides through the vineyards can arranged in advance, bocce courts and picnic areas round out the experience.

From the Plaza you can head north on Route 12 up the Valley of the Moon, a scenic route. Voted Sonoma’s best tour, the Benziger Family Winery in Glen Ellen offers a wonderful mix of agriculture, education and fine wine. Their vineyards are tucked in a pretty little valley on Sonoma Mountain just down the road from Jack London’s old ranch, now a park.

Their tour, aboard a tram attached to the back of a tractor, winds its way up into the vineyards where they explain the biodynamic approach to agriculture, a remarkable system that is increasingly popular with many high-end wineries. Next you visit the barrel caves and finish up in the winery for a tasting. Admittedly wineries are about adult enjoyment, but there are often children on the Benziger tour and they always seem to enjoy themselves.

Please don’t make the mistake of bringing children to trendy wineries where they have nothing of interest for kids. They will spend the hour while you are tasting wine bored with nothing to do. The wineries that are kid friendly have made a big effort to be so. At both the Sonoma Plaza and Benziger you’ll find good picnic tables, so pick up some sandwiches either at the Plaza or at the Glen Ellen Market.

Many of the wineries in the Valley of the Moon are kid friendly as long as you have an adult willing to keep an eye on them. The grounds are gracious and park-like allowing for a little outdoor enjoyment in beautiful surroundings. Some of those that come to mind are B.R. Cohn, Imagery, Landmark and St. Francis. Chateau St. Jean and Ledson Winery both have deli markets and picnic tables on site. They are all within five miles of each other along Route 12, the main road in the Valley. Hint: Bring a soccer ball or a Frisbee. There are some great lawns in the Valley of the Moon.

Visiting Napa with Children

Napa is a great place to visit because everything is close together. The whole valley is only thirty miles long by five miles wide, and while there are other wineries tucked up in the hills, the variety of wineries that are easy to reach is wonderful. However, it is not as agriculturally varied as Sonoma. Napa is another half hour farther from the Golden Gate Bridge, but the ride brings you through the beautiful Carneros district with its vineyard covered rolling hills that have a distinctly Tuscan feeling. Napa is closer to San Francisco via the less scenic Bay Bridge.

Napa has a bit more of a city style than its country cousin Sonoma, but there are several places that children will especially enjoy. Everyone enjoys spectacular architecture and great views, something at which Napa excels. A classic example of this is the Artesa Winery, with its hilltop site overlooking Carneros and the Bay. Artesa is close to San Francisco and despite not being built with children in mind, the feeling is relaxed enough and the variety of places to explore extensive enough that everyone in the family will be charmed. They even have an elevator for those with strollers.

Just to the north in Yountville is Domaine Chandon, one of Napa’s original makers of sparkling wine. This is a favorite for groups and people with children because the grounds are gracious and accommodating, with lawns, ponds and wildlife. Up on the patio, they offer snacks along with their elegant sparkling wines and the tables make it easier to keep everyone together. The springtime tadpole explosion in the ponds will keep any child entertained.

One of the most enjoyable family wineries is Francis Ford Coppola’s Rubicon in Rutherford, about half way up the Napa Valley on Highway 29 (St. Helena Highway). He took the historic Neibaum/Inglenook building and surrounded it with gardens that have all of the graciousness of a southern Italian villa. The exhibits and old barrel rooms upstairs are enough to entertain most children. During the summer they provide model sailboats to send gliding on the fountain pool in front of the building. There is a small café, with outdoor seating, a great gift shop and of course some wonderful wines.

Just to the north is the V. Sattui Winery which in this context is most valuable for their great deli offerings and large picnic area. Napa does not have a lot of picnic areas. On a Saturday in season it can get busy, but finding food, wine and picnic tables all together certainly makes the logistics of blending wineries with children much easier. The wineries have dramatically more traffic on Saturdays than Sundays.

The Wilds of Calistoga

For the San Francisco-based traveler, unfortunately, two of the most interesting wineries for children are all the way at the northern part of the valley, just south of the ‘old west’ style town of Calistoga, which is a great, kid-friendly place to visit onto itself. These two wineries are not suitable for infants in strollers, but for children eight years and older they are a fun experience. First is Sterling Vineyards, famous for its aerial tramway that carries visitors to its hilltop winery. Many years ago it was the first large winery to charge for their tastings. The price includes the tram ride. Between the tram, the gift shop and the tasting you need to allow an hour and a half to enjoy the place. Get there early to avoid the lines.

Just across Highway 29 is one of the newest, large wineries in Napa, although it was built to look old. The Castello di Amorosa is built like an authentic castle, from real stone and hand wrought iron. The vision, the forty million dollars and thirteen years it took to build produced a remarkable place. Children are restricted to the early morning tours so you should check their website for the schedule. The tour with tasting takes about two hours. The admission for Rubicon, Sterling and Castello di Amorosa all range between $20 and $25, although they offer discounts for children and young adults.

Napa gets hot in the summer, but very dry, so there are very few flying bugs. During the Winter it gets rainy, but not very cold. Both Spring and Fall are gorgeous, and harvest time, from late August through mid-November, is a very busy, exciting time in Wine Country.

Small, private wineries are often at people’s homes, so for the collector, traveling with children, you should ask your potential hosts if children are welcomed. If you want to get to the smaller wineries with children, consider hiring a guide with a car or SUV (avoid limos due to the need to sit sideways or backwards which increases the possibility of carsickness). While there are limo services in San Francisco, many of the experts live in Wine Country but they pick up clients in the city. Hiring a driver greatly reduces the stress and increases the enjoyment. Explain that you have children and ask them for a guide that is comfortable with that. Some guides are parents and actually like children. For them it’s something different and in fact we remember every tour we’ve ever done with kids. Touring with children is educational and a lot of fun, as long as you go to wineries that they’ll find interesting too. So enjoy your day with the kids in Wine Country.

Source by Ralph Deamicis

Philadelphia, the largest city in Pennsylvania, prides itself of its rich cultural heritage dating back to as far as the 1600's. Because of this, it is also considered to be an educational landmine and a commercial region waiting to be explored.

In its earlier years, the city was not so much as a metropolis but an Indian village of Shackamaxo which was allegedly occupied by the Dutch, English, and Swedish later on. These four colonizers wrestled to gain control of the land and each of them was able to do so for quite some time until the area was included in a charter for Pennsylvania.

The charter which would later become the Pennsylvania colony was given by Charles II of England to William Penn as a partial reimbursement of a debt but was also paid for by Penn to the Native Americans to be on good terms with them. It was at this time that he cave it the name "Philadelphia" which in Greek means "love" and "brother" and so it has been called since then the "City of Brotherly Love".

Nowadays, The City of Brotherly Love will always be remembered as the venue for the First and Second Continental Congress where the United States Declaration of Independence was signed and where it also hosted the First Constitutional Convention. The monuments that serve to remind the people about these significant times still stand in its bustling metropolis as well as newly constructed buildings. These historical sites include the Independence Hall (where the Declaration of Independence was signed), the Liberty Bell, the Gloria Dei (Old Swedes') Church National Historic Site, the First and Second Banks of the United States, Fort Mifflin and many others. There are more than a dozen historical sites found within city.

Due to its rich cultural heritage appearance from its aged structures and historical texts, Philadelphia is an educational landmine waiting to be discovered. It contains many art museums like the Pennsylvania Academy of the Fine Arts, the Rodin Museum which holds Auguste Rodin's largest work collection outside of France, and Philadelphia Museum of Art which is one of the largest art museums in the United States to name a few popular examples. Hundreds of artifacts are housed in these museums and each one has its own story to tell.

In consequence to those mentioned, Philadelphia is involuntarily made into a commercial region. Tourists from different parts of the world come to Philadelphia to learn more about its past and enjoy what it has to offer at the present time. Things to try out when in the city include Philly's local street food such as cheesesteak sandwiches, pretzels and other baked goods, pubs, theaters, and an assortment of accommodations ranging from hotels to apartments.

All of these make Philadelphia a truly unique place to experience. It is an ideal place to visit because you can enjoy the perks and learn about new things at the same time while staying in one of the apartments for rent. It really has so much to offer. Philadelphia is indeed a rich cultural, educational and commercial area.

Source by Henry C Drake

In early 2007 Trista Winnie, writing for NuwireInvestor said: “In 2006, Americans saved at a rate of negative 1 percent, according to statistics released February 1 by the Commerce Department, meaning they not only spent all of their after-tax income, they also dipped into their savings or increased the amount they borrowed. The savings rate in 2005 was negative 0.4 percent.”

We have all heard the news (unless you live under a very big rock) that we are not saving enough, not saving for retirement, not saving for emergencies, that generally America and Americans are teetering on the verge of bankruptcy. I’m here to tell you that the evidence for this just doesn’t add up. Americans are saving at record rates, have tremendous assets put away for a rainy day and most are far from bankruptcy. Sorry to disappoint all you fear mongers and nay sayers out there but the numbers you’ve been fed (and feeding to us) have been rigged. How could this be you ask? Well, the way the government measures savings is directly at fault.

The government’s numbers are calculated like this:

“Personal savings rate is calculated by subtracting the amount of spending from the amount of after-tax income. A negative savings rate means that consumers are spending more money than they have. The personal savings rate does not account for any money gained through investments or assets.” (nuwireinvestor, ’08)

There is a large pool of U.S. savings that does not show up in the statistics. The smarter and more knowledgeable our average citizens have become, and the more sophisticated they get, the more choices they have and the more they continue to save. And the less their ‘real’ savings shows up in statistics. Here are some of the ways that everyday people across America are quietly saving a fortune:

1) According to some economists American’s may have as much as 100 Billion dollars in currency quietly tucked away. This is currency that has been printed but no longer shows up in currency circulation metrics…this makes up approximately 20% of the currency available, where has it gone? It has gone into savings. This method of savings, many people keeping their cash in envelopes stuffed in a drawer for a rainy day used to be a common way to save, some people just don’t trust banks (and with the recent events in the first half of 2008…can you blame them?)

2) Almost 60% of Americans own their own home, and while the value of their equity may rise and fall, the value of their home equity is not measured in the aggregate savings statistics.

3) According to sales data kept by large commercial coin trading companies Americans own more gold, silver and precious metal coins than any other nation (with the possible exceptions of Germany and Switzerland). Naturally these assets aren’t recognized as savings either.

4) Social Security isn’t counted. 15% of an individual’s wages (or a half and half match for those of us employed by large companies) go into Social Security payments all of which is (hopefully) set aside for retirement. It takes 40 quarters of credit to qualify for Social Security at retirement age, among other things. With the average US wage hovering around $36,000 a year this averages out to $5400 per working year times the number of years a person works, usually about 40, which is $216,000 in contributions per worker before any gains are added on by investment.

Isn’t that 15% mandatory deduction another source of savings? Why isn’t it counted in the savings rate?

6) Stock investment. By conservative estimates 50% of Americans are currently invested in the stock market. But the aggregate of their investment is not included in the government’s measure of savings. Neither are tax deferred retirement plans like Roth and Traditional IRAs, pension plans, profit sharing plans, 401Ks, medical savings accounts, 403 b7’s and a plethora of other retirement account types that would look like savings to any rational individual. $5.8 trillion in retirement assets are in the hands of American workers, retirees and their families and held in benefit plans. These are huge amounts of invested money and are also excluded from the government savings statistics.

7) Money Market Funds: By most estimates aggregate total cash parked in Taxable MMF’s is between 3 and 3.5 trillion dollars…and guess what, nope these aren’t counted either. They are considered investing along with retirement plans. So just what is being counted in the statistics? I know that the Money Market Fund I am invested in has hundreds of billions of dollars in it…that money is what I call my personal savings and represents about 3 months living expenses, or over 10% of my gross income. I put money in there most months, I consider it savings, my ’emergency’ savings…why isn’t it being counted?

After doing just a little digging, it seems plain wrong to say that Americans are suffering from a low savings rate. Many Americans have found more sophisticated ways to save, to pile up their money for retirement, to avoid anemic bank interest rates and sidestep excessive interest charged by credit card companies… and none of these savings show up in the government’s numbers.

When measured in the aggregate, America’s savings rates are fine, we may be the most affluent savers in history! If we weren’t, why would so many nations be so eager to invade our markets, and are fighting over the right to sell things to American buyers? Because we’ve got the money to buy stuff! There is another story being told if you just look inside the numbers.

The really big question that lurks behind all of this is: Why does big government and big media work so hard at creating fear and propagating lies? I think ‘big government’ decided that it is somehow better for the average American to think of themselves as worse off than they really are in order to pave the way for government to design a solution. It’s an old Madison Avenue trick: create the demand and the people will buy.

The solution will probably involve taxing the “so called” fat cats who are making “windfall” profits off the stock market (read: oil traders, corporate CEO’s, speculators etc…fill in your favorite fat cat category here!) and sharing that wealth with the “people who deserve it” i.e the average hardworking Americans who have been convinced that they need this type of help from their government, not realizing that they are themselves the targets of this “get the rich guy” mentality. (Anyone among my middle-class readers been hit by a falling Alternative Minimum Tax recently?)

I’ll let you in on a little secret: many Americans are going to be millionaires by the time they retire…

I’m more worried about how the congress plans on confiscating our hard won wealth than I am concerned about not having enough at retirement. What kind of confiscatory tax will be unleashed on all of those well mapped out retirement plans for those jackals in congress to get their share of what we all have worked so hard to gather? Do you really think that the largest transfer of wealth in history is actually going to happen without big government collecting more than they aught?

Just watch what happens to the tax rates and tax laws in the next 20 years. That will tell the story. Sort of like time will tell.

Source by Wayne Silverman

For you to determine your house market value, you will have to to know how it is different from the appraised value. This is always mistaken to be one and the same but here is the vital fact that you should be aware of.

An appraisal is when a certified appraiser determines the value of the property. This is often conducted upon the buyer’s request when they deal with their loans and they needed to provide this information to their loan company.

With house market value, it is similar to appraisal but it does not involve a certified appraiser. The appraisal however, will be done by the real estate agent or the broker. They will provide you the information you will need based on the data they collected or the property’s worth in comparison to other similar properties in your locale. This is what they call comparative market analysis because the evaluation is based on the recent sales of familiar estate. This is normally done by the concerned agent in the possible transaction. The comparables, recent market trend in real estate and other approaches to assessment the whole valuation of the property is the mass appraisal technique used by the agent.

The loan institutions require a thorough assessment of the property before they can even start with the procedures in processing a loan application. Whatever provided by your real estate agent does not apply to the lender as the information your broker will use to assess the property is basic. That’s why certified appraiser is hired as they will be more detailed in giving the value of the property.. They will look more into the size of the house, its square footage, age, house style or appearance, location and its present condition. This is to assure the lender that the property is in detail worth the loan request.

It also the same if you are selling your home, you need to have both your agent and the appraiser’s evaluation. It would help resolve a reasonable asking price. Sellers who do not know their house market value, will price it too high or too low which can have a negative financial result. Or if you want, you may also try to make some improvements first before putting it on the market.

Check the condition of your doors, windows and roof to find out if there’s anything you need to fix. One of the things that will highly affect you property’s market value is if you’ll uprade or if you have a well-maintained mechanical system. If you can get your house repainted, install new carpets, wallpapers, fixtures and all the small details are extra things you can do for your house. Update kitchens and baths as they are also the few areas in your house that are carefully inspected by prospective buyers. And remember not to spend so much if it’s not required.

It is vital that you know the market on all aspects. It is often advised for a buyer or a seller to determine your property’s value by appraisal and house market value.

Source by Allen D. Wright

The beginning of each calendar year is a very busy time for many businesses, and Property Managers are not left out of that category! Whether you are a large Property Management Company or an individual Property Manager, this is the time when all tax forms should be issued for funds paid out to Rental Property Owners or Vendors during the previous calendar year. The form that is used to complete this task is the 1099-MISC, and this form must be submitted to the recipient and the IRS by a specified date each year. When 1099s are submitted to the IRS, they must be accompanied by a summary form, Form 1096, to meet the tax filing requirements.

– Why is the 1099-MISC necessary?

The IRS uses 1099s to monitor any income source that is not filed on a traditional W-2 form, which only shows income received as a salary or wage. This is a way in which the IRS captures any income received by an independent contractor or rental property owner that may otherwise go unreported. A Property Manager or Property Management Company is acting as a reliable source for the IRS to help enforce that all income is being reported.

– Who should receive a 1099-MISC?

• Rental Property Owners – all rental property owners that have received $600 or more in rent disbursements in a given calendar year should be issued a 1099-MISC.

• Vendors – all independent contractors or vendors who are unincorporated and have received $600 or more in a given calendar year for services provided should be issued a 1099-MISC.

– When does a 1099-MISC NOT need to be filed?

Every situation has exceptions, and tax filing and reporting is no different. Here are some of those exceptions:

• If the total payments to a rental property owner or vendor are less than $600, a 1099-MISC does not need to be filed.

• If a rental property owner is a corporation, a 1099-MISC does not need to be filed.

• If a vendor is an incorporated business, a 1099-MISC does not need to be filed.

– What information is required on a 1099-MISC?

• Tax ID # – this can be an individual’s SSN or an EIN for an unincorporated organization.

• Address – this is needed for the 1099-MISC to be sent to the recipient.

• Funds Paid – this includes a total of all income paid to a vendor or individual rental property owner during the previous calendar year. (Remember, only if the total is greater than $600)

– What boxes are used on a 1099-MISC to report income?

• Rental Property Owners – all income collected that was for rent should be reported in box 1 “Rents” on the 1099-MISC. Any additional income paid (late fees, utility bill reimbursements, NTQ fees, etc.) should be reported in box 3 “Other Income” on the 1099-MISC.

• Vendors – all payments made for vendor services should be reported in box 7 “Non-employee Compensation” on the 1099-MISC.

It is also good practice to send all rental property owners a copy of their financials for the previous calendar year so they can see where the amounts in each box on the 1099-MISC were derived from.

Not filing 1099s when required can lead to penalties and fines by the IRS, so it is very important to keep accurate records of amounts paid to each vendor and rental property owner and request any necessary forms that you may need to file the tax forms to be compliant in this process.

Source by Mike Lautensack

Many owners and investors are only focused on buying and selling real estate that they haven’t really looked at the advantages when it comes to 1031 exchange that IRS offers to people. This article will discuss on the basic things that you need to know and how it is beneficial if you will learn more about 1031 exchange properties.

And most of real estate investors and traders will just use the money they earned for other means or keep it for future use. But they can actually use it to acquire another piece of real estate and 1031 exchange can help them as it is non-taxable compared to other normal sales that are taxable with the IRS.

1031 exchange is also called a tax deferred exchange. Real estate investors who have more knowledge in this area use this as a part of their strategy. It is simply selling a qualified property and you are given a timeframe to use your monetary proceeds to purchase or exchange it for another property. That is how this transaction is treated as an act of exchange and not the usual buying and selling properties.

Some people may look at it differently and they may think it is against the law or illegal. Truth is, it is not illegal and law is actually well-informed. That is why there are rules and regulations involved in this exchange. There are certain policies when it comes to violation and the person responsible for the exchange will accrue tax liability.

The properties involved in 1031 exchange must be the like-kind to pass the regulation. The properties should be of the same value when you do the exchange. There are two major and simplified rules for 1031 exchange properties. It is stated that

1) the replacement exchange property must be equal or greater than the total net sales price of the property that you sold, which in this case is exchanged, and that

2) all equity received from the sale must be used to acquire the replacement.

Violation of these rules will make the person who initiated the exchange liable to pay tax for acquiring the estate.

And the process of partial exchange can also qualify for partial tax-deferral with the amount or the difference will be taxed as a “non-like-kind” property.

We mentioned earlier that there is a timeframe involved in 1031 exchange properties. These timelines are known as the Identification Period and the Exchange Period.

This Identification Period is a fundamental time where the person who initiator must point out the property he or she wishes to take as an exchange. This timeline will run for 45 days, including weekends and holidays, from the day the property was sold.

With the Exchange Period, it is 180 days after the transfer of the first property, or the tax return due date for the taxable year or whichever is earlier.

These are just a few things you need to know about 1031 exchange properties and you may find other valuable information on the internet. If you will want to look more into this you may also seek the help of a professional to help you with your real estate needs.

Source by Allen D. Wright

Contracts are legal agreements in which two or more parties agree to certain obligations. One of the most common contracts that people enter into in their lifetimes is a lease. A lease is a contract for a specified period of time under which the lessee receives the use of the lessor's property in return for a fee or other concession. For example, a college student may lease a property from a landlord for the period of one year.

There are several types of estate, which exist in regards to a lease. The landlord has a fee simple estate which is a type of freehold ownership. This means that they have the right to do with the property whatever they would like. Under the lease entered into the landlord and the college student, the lease would create a leasehold property for the college student. A leasehold estate is an interest in the property for a fixed duration. It gives the lessee the right of possession but does not transfer ownership.

Other types of estates created under a lease include an estate for years, a periodic estate, an estate at will, and an estate at sufferance. An estate for years is a type of leasehold estate that quantifies the period of time over which the right of possession extends. A periodic estate is an estate that automatically renews. An estate in years can simultaneously be a periodic estate, depending on the terms of the contract.

An estate at will is a commonly typical oral lease under which the tenant has the right to possess the property for an unspecified term, but either party may cancel anytime. This is common in the case of individuals over the age of eighteen living at home. Lastly, an estate at sufferance exists when a tenant has stayed beyond lease length without the landlord's consent. This tenant becomes known as a holdover tenant once this estate exists.

The terms of the contract are often titled in the landlord's favor because they are the property owner and suffer the greatest loss exposure. These contracts, although unfair, are legal because they are entered into voluntarily. However, a landlord must keep the property habitable at all times through the duration of the lease. This is known as a warranty of habitability.

In leases such as an estate for years, there are several methods for setting rent. Under a gross lease, which is most common in an apartment building, the tenant pays a fixed amount and the landlord pays expenses such as utilities. Under a net lease, which is common in single-family homes, the tenant pays rent and some or all of the expenses depending on the terms of the contract. Under a graduated lease, this is most common in commercial real estate, the amount of rent increases over the course of the lease.

This is helpful for business with periods of higher seasonal income. For more long-term lease contracts, both parties may enter into an escalated or participation lease. Under this contract, the tenant agreements to pay a percentage of increases on property tax or utilities. This is especially helpful for landlords when the contracts extends beyond one or several reassessment periods as it helps ensure a certain profit margin will go unchanged.

In most states, if a lease proceeds twenty-one years, a memorandum of lease must be kept on file in the municipal courthouse. The most important part of entering into any contract is that both parties fully understand the terms of the contract, as well as any estate created inadvertently or intentally by the lease.

Source by Joe D ONeil

Unplug From The Rat Race

7 Writing Jobs Online

Maybe you’re like so many, ready to retire but can’t afford to stop working just yet. Why not focus on changing your career instead and joining the increasing number of retired and semi-retired people who are earning their income or the majority of it online.

There are so many awesome and talented seniors that can be productive and contribute from the comforts of their home, even starting businesses and selling products on Amazon, eBay, and taking advantage of many other internet opportunities. Many have been finding the answer to their situations by pulling themselves out from the 9-5 rat race, and the daily traffic grind, to set up at home with all of the conveniences and comforts. These wise ones are looking for an alternative way to earn a living without the rigors of daily grooming, the workplace settings, health concerns, car repairs and more. Well, rest assured that there are many online opportunities that are waiting just for you.

Below is a list of 7 opportunities for those that enjoy writing:

1. Content Writing

There are so many website businesses on the internet and in order for them to get and maintain their search engine rankings, they need to post quality articles, short and long, on a daily or weekly regular basis. Many of these site owners hire writers that can deliver quality articles relevant to their businesses, and there are millions of these site owners. Do you know about search engine optimization to target specific viewers?

You can attract lots of traffic to your site but if they’re looking for Bald Eagles or The Eagles band and your website is on the Philadelphia Eagles, you won’t be getting the desired results. Many will come to see what the site is about and then immediately click away to find what they’re really looking for. There is a way that you can modify your web pages and posts to fit a certain like-minded group of individuals so that a percentage of the approximate 2+ billion internet users land on the right site that has the answers to their search entry.

2. TextBroker

The textbroker author produces unique quality content that captures the reader’s attention and increases your search engine ranking. has many writing assignments and you can choose something that you can research and write about. They will also hire someone without prior experience and your article quality will determine your pay rate. They have a lot of writing jobs to choose from so it’s possible for you to work as much or as little as desired.


Offers bulk content service to several Web, Media, SEO, and Social Media, they offer unique quality content, customized to their client’s keywords or topics chosen. They hire writers to produce short informative articles for their client’s websites. There is always a quick research required in order to write the articles and the topics can vary within their niche.

4. Blogmutt offers high-quality white label blog content for marketing agencies and businesses within the US and in 15 other nations globally. They hire freelance writers to produce quality original content for their customer’s websites. Their clients are usually blog owners or web businesses that need to produce content weekly or even daily and simply don’t have the time to produce it themselves. Your pay will depend on how many produced and accepted posts that you can write, and good writing will always earn you more money. Blogmutt pays out every week via PayPal and there is no minimum payout requirement.

5. Upwork

A great place to find new clients and to run and grow your own freelance business. You can run your own business and choose your own clients and projects. Fill out a profile and Upwork will highlight ideal jobs for you. You can also research projects and respond to client invitations. With you have the freedom and flexibility to control when, where and how you work. Each project includes its own workspace which is shared by you and your client. This enables you to send and receive files, share feedback in real-time( text, chat or video ), and you can also use their mobile app. This is also great for someone making a career change at 50.

There are many others, however, choose wisely and compare your options and get the most that you can for your skills, time, and effort. There is also a number of editing jobs online if that’s what you prefer to do. Making a career change at 50 is so much easier with all of the available online opportunities.

6. Editfast

A Canadian based online editing service mainly meant for professional editors, proof-readers, writers and more. Editfast caters to the requirement for all of your painting needs. They hire writers and editors for a variety of jobs and among these are plenty of editing jobs available. When new projects are received from their clients they entrust the job to the most qualified editor, taking in full view the needs of the client and the requirements of the document. Editfast pays out via Paypal on the last day of each month.

7. Contena

A complete system for launching your own freelance writing business. They’ll show you what works and what doesn’t from day one with Contena Academy. They’ll give you all the tools that you need to find the best writing gigs. They don’t hire writers or editors but they find the jobs for you when you join the site. You can find jobs for writers, editors, and proof-readers of all skill levels. The pay will depend on the client you work for and the services that were ordered.

These are only a few of the online writing opportunities and there are many more that you can take part of. Every day growing numbers of people are choosing a career change at 50 and any age. Actually, there are enough people in their 50’s choosing to work online that websites like the American Association of Retired Persons have work from home positions and articles listed on their website. Just because you need to earn an income does not mean that you have to get caught up in the rat race anymore, or even have to leave your home.

Source by Peter Mangini

Health. The biggest question Chicago Bulls fans have been asking themselves for the last several seasons is will the Bulls be able to stay healthy all season to make a strong contention for the title? When Derrick Rose tore his ACL in 2012, their playoff run was over, losing in the first round to the Philadelphia 76ers. Rose missed the entire 2012-2013 season and when he returned the following season, he tore his meniscus within the first 15 games and crushed Chicago fans chances to take the title. The 2014-2015 season was looking like the year until Derrick got injured for a third time. He returned for the playoffs only to fall short to Lebron and the Cavaliers in 6 games.

• If the Chicago Bulls want to have any chance of winning a championship this year, Derrick Rose must remain healthy and return to his MVP level back in 2011.

• Each player’s minutes must be conserved throughout the season so every player is healthy come playoff time. No player should be averaging 40 minutes a game.

New Coach Transition. After head coach Tom Thibodeau was terminated from his position, Fred Hoiberg, the former head coach of men’s basketball at Iowa State will take over. The last few years under Thibodeau has given the roster a defensive mindset but Hoiberg will be focusing offensively.

• Coach Hoiberg plays at an up-tempo that will compliment Derrick Rose and Jimmy Butler’s style of play to attack the basket.

• Attacking the basket will spread the floor leaving three-point shooters open such as Dunleavy, Mirotic, and McDermott.

• Steve Kerr, a rookie coach at Golden State Warriors just proved last year that it is possible to win a championship without coaching experience.

Depth. The strongest argument that makes the Chicago Bulls a championship contender is the amount of depth they have in their roster. With four all stars on the team and a bench composed of starting-quality players, anyone is capable of making a big impact for the game.

• In 2011, the Bulls made it to the Eastern Conference Finals almost entirely based on Derrick Rose. However, with the Bulls current roster, Rose no longer has to do everything. Jimmy Butler had his best season last year and signed a max contract with the Bulls. Gasol has proved how much of an offensive threat he is. Nikola Mirotic was brought over from Spain last year and he has shown that when he gets minutes, he performs exceptionally well. And there are many other players the Bulls have that can turn on their offense instantly.

• In 2011, the Bulls announcer gave the nickname to their bench, “the bench mob.” Although Gibson and Butler are the only players that were part of the bench mob that are still on the Bulls roster, the Bulls bench has only gotten better including Mirotic and McDermott.

If the Bulls roster remains healthy, the players are able to easily transition into new head coach Fred Hoiberg’s offense, and they utilize arguably the best bench in the league, the Bulls will have no problem beating Lebron James’ Cavaliers and taking on their opponent in the NBA Finals. Whether that be the Golden State Warriors or the San Antonia Spurs, the Bulls will return the trophy to its rightful home in Chicago to go alongside the titles Michael Jordan brought to the city so many years ago.

Source by Gabriel Glaysher