Choosing Between Fixed And Variable Interest Rates – Darn What A Choice!

Once you resolve to take up a home loan, the immediate thing that tempests your mind is selecting between fixed and floating rate of interest. It is easy to get stuck at this point if you are not financially trained.

Usually, when the media splashes reports on banks increasing mortgage interest rates in and their impact on Monthly Installments, you may take for granted that it is better to opt for fixed home loan rates. In fact, your banker may also counsel you to go for the same.

Now ideally as it should be, we take for granted that once you select fixed rate plan for yourself the rate of interest will remain unaltered for the entire period you have fixed the interest rate for irrespective of any incidental increase in the same. But actually this is not always the situation.

Here we demystify the nature of fixed interest rate housing loan transaction for you so that you can make an informed decision over the matter.

* Check the small print of a loan. The bank has the right to serve you 30 or 60-days notice that it intends to increase its rates.

* The bank’s first-year rates are binding on the bank only for that short period of 1 or 2 months. The 2nd-year home loan rates are not binding at all. Neither are the bank’s 3rd-year loan rates.

* Force Majeure Clause

So, while you read your mortgage contract, you can spot clauses like this:

“Provided further that from time to time, the bank may in its sole discretion alter the rate of interest suitably and prospectively on account of change in the internal policies or if unforeseen or extraordinary changes in the money market conditions take place during the period of the agreement.”

This is called Force Majeure Clause that enables the bank to undertake appropriate alterations in the interest rates on home loans they sanction to their borrowers.

So remember to look at refinancing every couple of years so that you do not pay too much. If you select a good mortgage broker company you can save a lot of money over the life of your housing loan and in most cases the consulting cost is free.

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Hints for Emigrants Applying a Housing Loan

There are two types of housing loan packages in Singapore: fixed rates or floating (variable) rates.

Fixed rates are sometimes extended for up to 3 years. Still, other lenders can offer up to 5 years or 10 years. In many Western countries, fixed rates can be made throughout the loan tenure.

Floating rates can be categorized into published rates or board rates. Like Singapore Interbank Offered Rate (SIBOR) or Singapore Swap Offer Rate (SOR), published rates are normally rates that are issued daily. Meanwhile, board rates are set by the respective bank or financial institution. Most lenders attach their board rates to certain financial benchmarks such as the SIBOR but the exact constituents are often obscure and variations in board rates tend to be versatile.

In general, there are no limitations on emigrants having housing loans in Singapore but do pay attention of the following.

Loan to Value

In Singapore, the maximum loan to value (LTV) is 90% of the purchase price or valuation, whichever is smaller. Some loaners do not give maximum LTV to emigrants, thus, housing loan packages for 90% financing are restricted. Loan approval for 90% funding is also tighter than for LTV 80% and below.

Proof of Income

To obtain approval for a housing loan your current income tax assessment or a letter of appointment from your local employer is needed. Some local loaners do not respect tax assessments from other countries.

Landed Property

The approval from Singapore Land Authority is required before emigrants can purchase restricted properties such as vacant estate or landed properties such as bungalows, semi-detached, and terrace houses.

In-principle Approval

Try to apply for an in-principle approval before proceeding with a purchase, since loan applications are more complex for emigrants. Consider to hire a respectable and professional housing loan consultant. This may help you spare time and money with your loan approval.

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The Keys to Prospecting Success

Ever notice how difficult it is to start a project? Then once you start it, it easily becomes a creature of habit. Take for example an exercise program. We keep putting it off but once we start, we ask ourselves, “why didn’t do this earlier?” We seem to have the same mindset with proactive prospecting. We continue to find excuses not to prospect even though we know how productive and the positive results that will come from it. So why is it that we will make every excuse in the world not to do it?

Make an appointment with yourself for one hour each day to prospect using your sphere of influence. Prospecting, like anything else, requires discipline. (Seems like prospecting can always be put off until a later day when the circumstances will be better.) Make an appointment with yourself each day to prospect.

Write down what you are going to say and practice saying it to yourself in the mirror. You will come across more confident to the person on the other side of the phone. Consider talking about something of value to the customer. It might be something related to the economy or the real estate housing market. People love knowledge and education. Provide them with information that will draw their interest.

Accurately define your target market before you begin. Determine how many calls you will make in that hour or two. Some sale people will call until they get an appointment or make the sale. Or you could decide to make 20 calls in that allotted time. Whatever you feel comfortable with and reasonable within the time allocated.

I would highly suggest having a database of at least one month’s supply of names. The time allocated for prospecting should not be wasted looking up names or deciding at that moment who you are going to talk to next. Be prepared and watch how much more productive you will become.

Remember you have set aside some time for prospecting. Work in an area without interruption. Don’t answer calls or schedule meetings during this time. As you start going through your calls, you will find each call will become easier and easier. Before you know it, you will feel like a pro. You will learn as you go and practice makes perfection.

Consider prospecting during off peak hours when conventional prospecting times don’t work. Some of your best work will be done between 8:00 AM and 9:00 AM, between 12:00 PM and 1:00 PM, and between 5:00 PM and 6:30 PM. Vary your call times. We are all creatures of habit. So are your prospects. In all likelihood, they are attending the same meeting each Monday at 10:00 AM (or whatever time you can’t seem to connect with them). If you cannot get through at this time, call this particular person in your sphere of influence at other times during the day or on other days.

Be persistent. Be motivated. Be disciplined. These will be some of your best merits. Most quality contacts are made after the fifth call. Don’t stop or give up. Keep pursuing your dreams. Hard work and dedication will always lead to success.

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Captivating the Power of Positive Thinking

The philosophy of triumph in business are not any different than winning on the football field. Vince Lombardi of the Green Bay Packers, a Hall of Fame coach, had such a strong belief about winning, that many of his principles are practiced and taught in the business industry throughout the world.

Although Lombardi has been gone nearly forty years, his philosophy of winning is as timely and pertinent today as then. He has been credited with coining numerous phrases that hit home with people in business, politics, and sports. Here are just a few that seem to work in every facet of life:

“It’s not whether you get knocked down, it’s whether you get up”- Life has many challenges and there will be times you will fail but don’t give up. No matter how many times you get knocked down, dust yourself off, get up and keep pushing forward. Out of respect for your peers always be early. Vince would say “be 10-15 minutes early or you are late”. If you can maintain punctuality, you will be taking one of the first steps to success.

CONFIDENCE IS CONTAGIOUS – SO IS LACK OF CONFIDENCE – A business manager or team leader who demonstrates confidence will breed that same confidence in the work force, if there is consistency of purpose. If you live and believe in what you say, those around you will eventually do the same.

Another coined phrase was “Perfection is not realistic, but if we chase perfection we can catch excellence”. If we set goals that are easily reachable, then we can only expect mediocrity. It doesn’t matter if we are an employee with a company or a CEO of a large Corporation or an athlete we can at most be guaranteed “average” results. Establishing higher goals and ambitions, might not guarantee us that we will be the best, but it will assure us to be one of the best.

Here is one of my favorites. “SUCCESS only comes before WORK in the dictionary”. It will require had work, dedication and motivation to become successful. The Packers had a play called “The Lombardi Sweep”. Every team knew when it was coming at them, but their defenses couldn’t stop them. The hard work and continued practice to be perfect will always be a winner.

IF WINNING ISN’T EVERYTHING, WHY DO WE KEEP SCORE? – Whether you are in a foot race, football game, or climbing the business ladder, if you don’t want to be the best, you will be satisfied with second place. It will become a habit.

Believe in yourself and believe in your peers or authorities. Be positive in life and live these ideologies and you will be part of the winning team.

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Strategize Your Investment Before Investing in Your Strategies

Thinking about purchasing a home as a rental? Whether you are an investor or second home buyer this might not be your initial intent but could definitely be a consideration in the future. As a second home buyer you may consider renting your home during the off season. Could you imagine a law informing you that you are restricted from renting your home? It occurs more frequently than one would believe.

In Arizona for example, most communities built after’90 are in master planned communities and have Homeowners Associations in place. Also called HOA’s, these associations have rules and restrictions known as Covenants, Conditions … Restrictions (CC…R’s). These rules are specific as to how the homeowner may alter or use the land and the property.

These CC…R’s are provided to you prior to purchasing the home and should be read carefully. Usually anything that can be seen from outside can be controlled by the HOA. A bench in the front entry or even window coverings is two good examples. The HOA rules can regulate what plants and trees are allowed in your yard, the paint color of your home and even if you are allowed to lease your home. Some buyers request specifically from their real estate agent, to see only homes in non-HOA communities but these types of developments are far and few between.

During the real estate boom, many builders and HOA’s began improvising and changing their rules to include if your home could be used as a rental. Or the rules stated how long you had to occupy the residence before renting to someone else. At first, renting the property might have been the furthest thing from our minds, but in today’s current market many of us have had no other choice but to consider renting our homes out. When we first closed escrow on our homes we agreed to follow the CC…R’s.

In a normal housing market, rentals have always been considered to be in areas that have a higher crime rate or in an area where property values are low. This is not the case especially in today’s economy. There are so many reasons today why property values are declining. Foreclosures and bank-owned homes are now attributed to this cause as well.

With the declining Real Estate market and more homeowners considering renting their homes, we are starting to see Homeowners Associations attempting to amend their CC…R’s to include rental home restrictions. Many people believe that CC…R’s cannot be amended. Amendments happen regarding all sorts of rules and regulations. Can this be true for rental properties too?

When you purchase a home the contract stipulates that any CC…R’s are binding and a part of the contract. So in essence you are agreeing to the HOA Rules and Regulation. Now the question is can the HOA change these rules after you have already agreed to the original ones? A purchase contract cannot be amended unless all parties agree.

Although somewhat difficult these amendments to the CC…R’s are realistic and can be done. Take these factors and considerations to heart when purchasing a home. Your investment strategy decisions could weigh differently in the short and long term.

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Established Businesses Need Planning and Goal Setting Too

Most all successful business entities have Company Mission Statements, Goal Setting and Planning encompassed in their Policy and Procedure Manuals. This goal setting and planning objectives are the foundation of any successful business. Having a common balance between the company and employees ensures permanence.

No matter how long you have been in business, you are always vulnerable to the changing economy. Always plan and set goals ahead to help overcome obstacles along the way. Be prepared and be ahead of the curve. This is a must if you want continued growth. Confronting “road blocks” will be much easier to overcome and lead you to the path of success.

The old adage ‘to fail to plan is to plan to fail” rings true. There are many myths in life as well as business that some use today to avoid setting goals and plan. The following are several that more than likely we all have used or at least thought of.

I am hard working and disciplined and know what needs to be done. This might be true but just thinking what needs to be done, will continue to set you on a path in a backwards direction. This thought process, however positive, won’t be good enough. What might work one year does not mean it will work in the future. Always plan ahead and be prepared. Make a group effort today for tomorrow’s success.

There are written goals and there are written goals. In other words, goals do not exist in thoughts only. They must be in writing. Talking to your employees about the plan for the company’s success will have no value to the employee. Providing your employees with visual goals will spark their interest even more for their future and the company’s.

I wrote down my goals, so therefore I will now be successful. It is more entailed than just writing your goals down. They require further execution, management and harmonization. Rest assured Donald Trump, Warren Buffett or Bill Gates acted upon their written goal setting and planning.

THERE’S NO NEED TO REVIEW MORE THAN ONCE A YEAR! This belief might have been true with some businesses in the past, but with the economic downturn and turmoil over the past several years, a revisiting of our written plan and goals makes sense more than once yearly. Adaptation and redirection could save the life of a company if properly sequenced.

Timing is so very important. There are still some tough times ahead. Making the changes necessary when the time is right will keep our company strong. This can only be accomplished through the awareness of our goals and planning. This will determine our future along the bumpy road ahead.

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Who Can Sell Timeshare?

One can sell timeshare locally and internationally or across the globe involving a luxurious vacation holiday resort. This type of investment carries five-star accommodations. The time has come that you no longer need the investment you have on a timeshare. You can also inquire how to sell your timeshare for it is a great solution to an investment that you do not need anymore so you can plan for another type where you can pour your money in and enjoy at the same time.

This is the most lucrative business that is maintenance-free, hassle-free and gives lots of frees like free tours, free sight-seeing trips, free meals and many more. The coverage of the real estate business is very wide. It covers a global network thus you have that great chance of selling to your friends in any part of the world. If you are a social networker you can advertise your products on your site or sites. Most people who are engaged in real estate business earn high and find it enjoyable.

The targets of the brokers are high bidders not the cheapskates. The reason is the commission which comes in large sums for the costly properties. These brokers earn by commission that is why they prefer people with money who do not bargain. It is in this business that you will offer to their clients the products that are expensive. Brokers do not bargain for a lower amount, but for the higher value.

To sell timeshare is very interesting, but selling your own time share is another story. In fact it is easier to buy than sell timeshare especially if friends know it is your own. The tendency is they will go for the best bargain. There are also people who will take advantage of the fact that you are need of money. They will grab this chance of owning an investment at a price lower than that of the fair market value.

In case you have a problem disposing your own, you can always coordinate with any real estate broker or agent. Brokers are very well-versed on this particular area so they can be of great assistance to your ordeal. It is also important, for the protection of your interest, that you engage deal only with a licensed real estate broker or agent. What is important is for you to sell timeshare.

When you buy timeshare, it is like investing in some property that you plan to have vacation to. But when you sell Timeshare, it is like staying away from a property which you have no plans of owning. You will notice that there are certain rules and conditions in order to dispose of the property. Simply visit this site at www.TimeShareAdventures.com to know more about it.

Best Recruiting Practices for All Types of Businesses

Recruiting is least successful when you’re forced to find someone quickly due to an unexpected resignation. Recruiting should always play a part in your daily routine. Out of desperation, many employers often end up filling a critical vacancy with an available candidate who lacks one or more of the essential skills required by to be a good employee.

Recruiting on an ongoing basis is the best practice. Having to perform a quick rebound to a need will only cause problems later. Recruiting only when your company is expanding should not be considered in your thought process. There is turnover in every company and you should always be prepared and one step ahead.

Don’t rely on a single approach when recruiting. For years; employers thought that an effective recruiting campaign consisted of a few advertisements in the Help Wanted section of the Sunday newspaper, with a formal recruiter or two thrown in for good measure. But those tools are simply no longer effective enough in today’s market, especially when everyone else is using them too. Just as you wouldn’t rely on a single technique to identify prospective customers for your business, your recruiting program should include the regular use of a variety of prospecting tools available at your disposal that can identify qualified candidates.

In-house employees, job fairs, word of mouth and Internet sites are just a few of the tools at our disposal. Take full opportunity to utilize these resources.

If you think that the burden of creating a favorable impression rests completely with the candidate, think again. With lots of companies competing for the best people, your interview process must be efficient, responsive and, most important, respectful of each candidate’s time and interest. That means being organized, keeping to your interview schedule, and getting back to prospective agents when you say you will. After all, if you can’t make an effort to make a favorable impression during the interview process, what kind of an effort will you make when the person is on board?

If you have found a good candidate and decide they are perfect for job, it’s always a possibility they could turn down the offer. Don’t take it to heart. Definitely don’t take it personally. If the candidate turned down the position because of another opportunity, it is very likely they might realize a mistake has been made and reconsider. Continue to follow up with the individual as their reconsideration could be very favorable in the near future.

Another reason for being proactive in recruiting is even more important in the sales industry. Sales people are also hard to find and overstaffing might not be out of the question. This would be especially true in the real estate market. This will not only expand your team but give you an opportunity to replace a mediocre performer. Having trained real estate agents or sales professionals in reserve who understand the business could be vital to your company’s growth.

Always be attentive and alert if you consider delegating your recruiting responsibilities. You can’t effectively delegate essential recruiting activities to a secretary or an administrative assistant. The expense and consequences of poor recruiting are too great to place the task in inexperienced hands. Your effort to keep the best candidate starts with the initial contact. You must play an active role in recruiting from start to finish.

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Insurance Marketing – How to Get Recognized

Tips for insurance marketing agency

Below is a list of tips for your advertising agency that may or may not work for you, but it is something that should be considered as entering the New Year. Remember to stay within your budget and use what works for you.

Local Insurance Agent repertoire: For a small fee you can get your code, thus creating market exclusivity. Sites like InsureMyHouse. com and InsureMyLife. org offer this type of service.

Local Phone Book: It can be expensive, depending on the type and size of the advertising space used. Normally, the cost of these ads increase each year and may eventually add up, so make sure you are selective.

Local newspapers: Once again can be costly, especially if they ran each week.

The local sports teams: You can always sponsor a team or even purchasing a sign. This is very common with local baseball, football and soccer leagues for youth and adults in the ballpark.

Postcards: A good way to get in front of your local community. The postal cost is quite cheap so you can get more for your money.

Radio: It can be very expensive and can get out of the reach of more than 50-100 miles from their place of business, bringing the focus of their local community.

Television: Another way to expensive advertising. See Radio earlier.

Local advertising sign posters, neon signs, traffic signs system, etc.

Stationery and Supplies: pens, letterhead, etc.

Magnets advertising and promotional materials:, Golf balls, tees, calendars, etc.

Local Movie Theater: In 2007, Hollywood called in more than 1. 44 billion for admission.

Website: Relatively inexpensive to start and if optimized properly can develop a local presence.

Family Center of Fairs: Many cities offer one year's events for the home, gardening, etc.. There is much foot traffic that passes through. You can rent a booth and distribute brochures. Finding ways to reach their local community on a consistent basis.

Find what works for you and base your decision from there. Many of these will be trial and error, but you need to find the best option. You have to spend money to make money.

Insurance Marketing – Tips For Agents

Insurance marketing – tips for agents

Below is a list of tips for your advertising agency that may or may not work for you, but it is something that should be considered as entering the New Year. Remember to stay within your budget and use what works for you.

Local Phone Book: It can be expensive, depending on the type and size of the advertising space used. Normally, the cost of these ads increase each year and may eventually add up, so make sure you are selective.

Local newspapers: Once again can be costly, especially if they ran each week.

The local sports teams: You can always sponsor a team or even purchasing a sign. This is very common with local baseball, football and soccer leagues for youth and adults in the ballpark.

Postcards: A good way to get in front of your local community. The postal cost is quite cheap so you can get more for your money.

Radio: It can be very expensive and can get out of the reach of more than 50-100 miles from their place of business, bringing the focus of their local community.

Television: Another way to expensive advertising. See Radio earlier.

Local advertising sign: billboards, neon signs, traffic signals, the system, etc.

Stationery and Supplies: pens, letterhead, etc.

Magnets advertising and promotional materials:, Golf balls, tees, calendars, etc.

Local Movie Theater: In 2007, Hollywood called in more than 1. 44 billion for admission.

Website: Relatively inexpensive to start and if optimized properly can develop a local presence.

Family Center of Fairs: Many cities offer one year's events for the home, gardening, etc.. There is much foot traffic that passes through. You can rent a booth and distribute brochures. Finding ways to reach their local community on a consistent basis.

Local Insurance Agent repertoire: For a small fee you can get your code, thus creating market exclusivity. Sites like InsureMyHouse. com and InsureMyLife. org offer such service for a nominal annual fee of $ 80 per zip code.

Find what works for you and base your decision from there. Many of these will be trial and error, but you need to find the best option. You have to spend money to make money.