Banks originated as an alternative to burying your money in a clay pot out in the sheepfold. In most ancient records, the concept of a bank as anything other than a communal effort to protect wealth from raiders is spotty.

The next major change in banking was the concept of charging interest for a loan. For the longest period of time, laws against Usury kept this from happening in Christian countries – an interpretation of the Bible forbade charging interest on loans. Later, this expanded to paying people interest to hold deposits within the bank.

There is no bank in the world that does not issue loans; it’s their primary reason for existence. Modern banks offer a wide array of loan products for every consumer (and business) need.

Most people’s first relationship with a bank is for a checkbook, or for a savings account. Their second is usually a loan of some sort.

I took my first bank loan when I wanted to buy a car. It was an auto bank loan or a bank loan given for the specific purpose of buying a vehicle. My next bank loan was taken when I wanted to buy a condo.

You see, it’s unlikely that anyone has money sitting around to buy a house for cash on the transaction. Most people lack the discipline to save money every month for a house when paying rent; this opens up the next kind of bank loan – the mortgage loan.

These mortgages are usually made with low interest and long repayment terms (it works out nicely for both parties that way), with payment terms that run for 10 to 30 years depending on the loan.

There are also other types of bank loans issued for various purposes. A personal bank loan will enable you to buy a broad spectrum of goods or services. This sort of bank loan will come in handy for repairs, renovations, marriages, celebrations, events or any other expenses that you don’t have cash lying around for.

This type of loan is also sometimes used to buy things like computers and home renovations; basically anything that doesn’t require a significant portion of the borrowers income is a valid target for this kind of loan.

Yes, even a credit card is a bank loan, and is one of the reasons why our society is so mired in debt. This trend for unsecured debt has shown up in other ways with debt consolidation loans – taking out a loan to pay off other loans at higher interest rates or higher monthly payments is a thriving business.

Most loans issued worldwide to consumers are housing and mortgage loans. They’re a tiny fraction of the business debt market, where the entirety of the financial industry runs off of leveraging assets by taking out loans.

Whether it is a small business operated out of the home or a large business that needs millions of dollars in order to tide over a cash flow problem or to acquire assets, banks loans issued to businesses far outstrip individual bank loans.

Without business loans and credit, the vast majority of businesses would collapse. This business loan mentality is what drives the modern financial world.

By Christopher Ulrich, Editor, HomeBuyersGuide.com

Buying a house is the single largest buy most Americans will ever make. Unfortunately, a wide range of spend less time deciding on what house they should buy than they do on purchasing the latest cell phone. That isn’t to say they’re not capable – they simply lack a method of evaluating house.

Before You Search for a House, Decide What You Really Want

This sounds simple enough, but many people do not spend the time to decide what kind of home buy they want to make. They start visiting open houe events, fall in love with a home and make a bid. Months or years later they decided they bought the wrong home for a range of reasons. “If only we knew then what we know now…” they think.

Plan for the Long Term

Most people will live in their house anywhere between 5 and 50 ages. Examine what your needs will be ten more than a decade from now. Ask yourself:

Are you planning on starting a family? With how many children? Be sure you have enough bed rooms and that the rooms are large enough for the kids to grow into.

Are you planning send your children to public school or private school? Private school can be expensive. If you make that choice of private school, you may want to live in a nicer town with a lesser quality school district; both the homes prices and taxes may be lower for a similar home.

Are your children walking in to be driving in the next several years? Do you have sufficient parking?

Could you end up bringing your parents in to live with you?

Do you want a mother-daughter with separate kitchen and entrance or simply an additional bedroom in the main house? Will you prefer a ranch vs. a two-story home?

If you are selecting a location near your work, is there other work nearby if you are required to change jobs? Are you better off driving a greater distance but being nearer to another urban area?

Plan for the Features You Want

Decide now how a wide range of bedrooms and bathrooms you want. Do you want a finished basement? What about a swimming pool and deck? How about a home office? There are a wide range of features you can select in a home, and it is far easier to find it in a home you are looking to buy, rather than adding it in the future. If there is an critical feature you want that is not in a particular home, make sure you can add it later (ex., do you have room to add a pool later on). For a complete checklist list of features to review, see http://www.HomeBuyersGuide.com/features.cfm

The idea of obtaining a license to sell real estate and real estate has considerable appeal. Because many real estate agents can set their own hours, staff may choose to sell real estate full time or use the committee that generated the sale of homes to supplement their income. Selling real estate is an excellent opportunity to make money while responding to many people.

If you think that handling the sale of real estate is the perfect job for you, than you should start thinking about getting a real estate license.

All fifty states require that you have a real estate license before you can legally sell real estate. While the idea of trying to get a real estate license sounds a little daunting, you really shouldnt get too stressed. In most states, getting a real estate license isnt any more complicated than getting your drivers license was.

Prerequisites

The first thing you should do is check with your states real estate commission and find out the prerequisites are for getting a real estate license. Most states require that you are at least nineteen years old and have at least graduated from high school. Once you have determined that you meet all the prerequisites you can start working towards your real estate license.

Real Estate School

The first step in obtaining your real estate license is included in a school of real estate. There are lists of schools online real estate. Many community colleges provide training for real estate. Another way to locate schools of real estate is to speak with real estate agents who are authorized to work in your area.

When you are enrolling in a real estate school you should have an idea of how long it takes your brain to absorb information. If you are someone who absorbs material you can look into schools that offer programs that give you a large amount of information in a short period of time. If it takes you awhile to absorb information you should look for a program that spreads their lessons over a longer time period. The average person takes about a year to learn everything they have to know about handling real estate.

Testing

When you have completed the course you will have to take the state standardized test. Once you past this test you will be a fully licensed real estate agent and can start gathering your clients.

After you have gotten you real estate license most states require that you continue your education.

A horse farm may very well be the most beautiful piece of real estate that you can imagine. Horse farms are always picturesque, peaceful, and serene. Think about it ” approaching the main house on the long, winding drive only to be met with a neat, two story house with flowerboxes, and a barn nearby. The whole scene is set with white board fences and rolling green pastures in which a few frolicking horses are enjoying the breezy day. Sound nice? Of course it does.

Tennessee is absolutely beautiful and breathtaking. In the western part of Tennessee you will find a stunning hillside landscape. The magnificent mountains in the eastern part of Tennessee are striking. The weather is fantastic there is a little of each season. In the fall the mountainsides look like fire with the leaves changing into shades of red and orange. Tennessee is a wonderful place to own a horse farm, because of all it has to offer. If you are thinking about purchasing a horse farm picturesque Tennessee should top your list of places to buy.

The market is hot for horse farms in Tennessee right now. With the affordable real estate prices in the state always a benefit, more and more people are choosing to combine their love of horses with their love of land. The properties throughout Tennessee are ideal for horse lovers with families. The state is filled with great horse facilities, plenty of things to do, and good schools for the kids.

Many people are buying land in Tennessee and building their own farms. Some others are purchasing farms that have already been up and running for years. Before you buy a Tennessee horse farm there are a few things that you should take into consideration.

It is important that you make sure what is advertised is what you will be getting. You need to have the land surveyed to make sure that the proper acreage is listed. The Survey should be an exact match to the deed. If it is not, it is important that you sit down with your real estate agent and figure out what is going on. You will also need to check into the easements on the property. Easements can come in a number of forms and be used for a number of different things. The most popular easement is a utility easement. Just make sure that you know where the easements are and what rights others have to them. It is also import that for you to check and make sure that you will have access to a public road. You can ask your realtor or check with the county about public road access.

Before you decide to put an offer in on a Tennessee horse farm you should check with the county to find the tax assessed value of the property. This will give you an idea of how much the property is worth. You should; however put in an offer based on what you think the property is worth.

When in doubt, seek out the advice of a professional. Before you make an offer, have your attorney look over the deeds, titles, assessments, and discuss before you make any offer to the owner. When buying a horse farm in Tennessee you are making a great investment, but you want to be smart about it.

We’ll have a look at what benefits there are to a fixed rate mortgage for you. We will also look into how a mortgage overpayment calculator might save you lots of cash. With the fixed rate mortgage comes security. With the mortgage overpayment calculator comes potential savings.

There are a few different types of mortgage, the fixed rate being only one of them. You get your interest rate locked for the period of the deal, usually a few years. Locked in interest rates mean locked in monthly payments.

Are there any benefits to a fixed rate mortgage? Because your payments stay the same you don’t get ups and downs in your monthly payments. You can benefit by knowing your monthly payment is fixed which allows you to budget more effectively.

Your payment is locked so it really doesn’t matter what the general rates are doing. In the last few decades we have seen interest rates almost double in a few short months. You may struggle to meet your payments if you have a variable mortgage and rates rise suddenly.

Under certain circumstances, a fixed rate mortgage could be a mistake. If you suddenly have an extra family member and need more space. Or you are simply considering moving home soon. Any situation which sees you changing mortgage can invoke a horrid redemption penalty on you.

Most fixed rate mortgages come tied to a nasty redemption penalty. At a time when you least need it, you could get hit with a redemption penalty. Think hard before you take a fixed rate mortgage as these charges can really disrupt your plans.

During the term of your mortgage it’s worth considering paying a bit extra each month if your budget will stretch. You don’t have to make the same payment month after month for 25 years. It’s not often, if at all, that a lender will tell you it’s possible to pay more than your normal minimum monthly payment.

What are the up sides to paying extra each and every month? Topping up your monthly minimum payment means you can knock a few years of the length of your mortgage. You also save a lot of money in the process, sometimes a staggering amount.

What does a mortgage overpayment calculator do? You can enter all the relevant figures from your particular deal. You can put various amounts in as the overpayment. Feel free to play around with this figure.

The calculator will show you how many years you can expect to shorten your mortgage by. You get to see how much money you could possibly save. Playing around with the actual overpayment figure can reveal that the more you can pay, the faster you finish your mortgage.

There are astonishing amounts of savings to be had. If you had a 25 year mortgage and borrowed 100 grand at 5% interest. Making an overpayment of 50 every month will save you 12,000 and knock over 3 years off.

Now an example of 100 extra instead of 50 extra. Using the same figures in the mortgage but substituting 100 extra for the previous 50 extra. This saves you more than 20,000 and knocks a respectable 6 years off the term.

Another plus point is the years you knock off are totally payment free. It’s definitely a reality for you to be free of your mortgage years before planned. Of course your lender will never tell you this, you have to discover this on your own.

If we look at the example where we paid 100 extra and knocked over 6 years off the length. We could save a further 40 thousand by not having to pay your lender every month. You don’t pay this money to your lender so you get to keep it, either save it or spend it.

To recap we had a look at what benefit a fixed rate mortgage has for you. Every month you pay the same so you get to sleep easy at night knowing this. We also looked at potential savings by paying extra each month. Every little helps.

California has essentially two causes for assessment: transfer in ownership (also called a transfer) and new construction. A transfer in ownership is when a deed or deeds are recorded at the Recorder who will then send the data to the Assessor. The Assessorss Office will review the transfer to see if its assessable. If it isn’tre-assessable then it all stops there, but if it is an assessable change in ownership, the information is sent to the appropriate staff to give or review the value and modify the base value appropriately. A transfer that isn’t assessable must have fallen within the parameters of an exemption offered by State law. An example of this is a transfer into a revocable trust or an inter-spousal transfer that are articulated in our Inherited Property and Exemptions Guide as part of the California Little Black Book.

If a transfer in ownership is not assessable meaning it is exempt, the ONLY way the Assessorss Office knows this is via forms that are recorded with the deed. If no exemption applies, the change in ownership is assessable based no Prop 13. If you do not apply for an exemption, submit a form or offer accepted documentation for an exemption, you will be re-assessed automatically. The Office of the Assessor is a mass assessment organization and if you don’t communicate with them through forms and documentation they won’t automatically know how to process your change in ownership.

The second trigger for assessment in California is new construction where the Assessor is notified from a completely different source. The city and county building and safety departments send information issued permits to the Assessors’s Office for assessment purposes. So when you apply for construction permits with your city or county even if you dont end up building, which happens often, the permits are automatically sent to the Assessor. The permits are forwarded to the appraisers for several reasons: for a building record update and a valuation change if one applies. Generally, it takes the Office of the Assessor some time to process these because often field work is required to find out what construction was done and then the valuation process. The Office of the Assessor has to collect the construction data independently. If there is a demolition the taxable value will most likely be lowered and if there is an addition the taxable base value will likely go up. For example if you demo a pool your property taxes will decrease. If you add a pool, your property taxes will increase. However, new construction varies from residence to residence and it will be evaluated based on the value that was added or taken away. This is detailed in the California Little Black Book with examples and various scenarios. I assessed countless properties where various types of construction were taking place and would be happy to answer any questions you may have pertaining to this!

Like new construction there will be a re-assessment of a property if the use of it changes. For example if a complex of own-your-owns is converted into condominiums the Assessors’s Office will reassess the value of each unit because the change affects the market value of each unit. However, generally in California there are two events that trigger re-assessment based on Prop 13: change in ownership or new construction.

About the Author: Valerie Faltas, Property Tax Expert has been involved in all facets of real estate for over ten years including assessments, appraisals, estates and trusts, investing and much more. She is a Certified Property Tax Appraiser, Licensed Residential Appraiser and a member of the International Association of Assessment Officers. As a real estate investor and advisor she is well versed in all aspects of real estate. To contact Valerie Faltas go to her website: www.propertytaxlittleblackbook.com.

Buying property for investment can be very rewarding. Many clever investors have found that the way to riches is littered with bargain real estate. Some have also realized things the hard way, and have found out too that trial and error is a costly way to learn all about property investment. Read on to discover excellent tips to discovering bargain properties. Later, you’ll find out how to get in touch with Property Secrets, a leading company for buying a property for investment.

First of all, you need to find properties at bargain prices to thrive in property investment. However, great property deals entail more than just how much you need to pay the owners to acquire them. Expert investors understand that it’s also about the expected rise in value of the property too. If you’re successful with your first property acquisition, then you would most likely buy more real estate. This method can be applied over and over again until an investor has enough properties that give him more pull in the property investment market.

Location is also critical when buying a property for investment. When buying investment properties, study the locations in which you want to make your purchases and be attuned to their potential for growth. A positively geared property can be located in a developing community, as long as the infrastructure is already set up. These developing regions are often the best areas to spot bargain properties that will step up in value soon.

Places just outside primary capital cities are also great areas to look into. A lot of locales are excellent for buying a property for investment. Also, concentrate on one suburb at a time, so you become an authority on the property market there right away.

A majority of investors are often unsure if they should start acquiring houses or units. While certain professionals may give property investment advice that units are better because they’re a great source of income, others believe that buying houses is more financially rewarding. The basis for this latter suggestion is the land. Land is almost always expected to step up in worth, so the more land you acquire, the more value you are getting in the long run. The acquisition of a house means you also get the land where it stands. Units do not provide the same benefit, which can then put a cap on possible renovations and thus limit rental income too.

A lot of investors new to the industry look towards working with a coach to educate them how to buy an investment property. These investing authorities will steer you to make sound investments. You can try and educate yourself with the ins and outs of investing on your own but that can be costly. Paying attention to the suggestions of coaches can make the investment procedures money-making for you from the beginning. buying a property for investment can be a great source of money, as well as enable you to build a nest egg for your retirement.

Everything starts in the Assessors Office, by determining what is assessable and then handling the valuation of that re-assessment and all of these decisions are made by your state law. The three organizations that compose your property tax branch deal with various aspects of your assessment. Some counties merge these departments when they are not as large and dont have a necessity for three different organizations.

Assessments go through a process within the Office of the Assessor, to determine the value for that assessable event or assessment year. At the end of the fiscal year all of the values for the year are sent to the Auditor-Controller to apply the correct tax rate (percentage) to each parcel which varies in each tax rate area and determines the actual dollar amount you owe. The tax rate is set based on the area you live in and the local taxes applied to your local community in addition to the state levied taxes. The tax rate is usually a percentage of the value determined by the Office of the Assessor.

Also, if in a tax rate area has a special assessment or a direct assessment it is added by the Auditor-Controller’s Office. Finally the information is sent to the Tax Collector who distributes the bills, collects the money and deposits it in the County Treasury. These three departments compse the property tax branch of your county government and each handle their responsibilities independently.

For example, if you discovered you had a lien or delinquent taxes on your property, you need to go to the Tax Collector’s Office to pay them and have the lien lifted and the records brought up to date. However, if you had an issue with the amount of property taxes or the value in which your property taxes are based on you would contact the Office of the Assessor, because that is what the Office of the Assessor is responsible for. For example, if you had a value issue, you would go to your Assessor, and how to do this is detailed in both the California Little Black Book and also the National Little Black Book.

Once the value is adjusted by the Assessor it would get sent to the Auditor-Controller who would adjust the actual dollar amount you owe, and then forward that to the Tax Collector’s Office where you would receive your adjusted bill. Usually, the two offices that handle public service are the Assessors Office and the Tax Collector, the Auditor-Controller’s Office is the silent partner. Normally, any public service issue that needs to be resolved with the Auditor-Controller’s Office is requested by the Assessor.

This can be an intricate process and sometimes values are adjusted by the Assessor and somehow the actual bills sent out by the Tax Collector’s Office are not adjusted. This happens when the Auditor-Controller’s Office, for whatever reason has not adjusted the right bill or there was some sort of processing error. Remember all of these departments are mass processing organizations and they do the best they can however it is your responsibility to make sure that your values are accurate. When this happens a special request needs to be sent by the Assessors Office to have a particular value adjusted and then that will be forwarded to the Tax Collector who will issue a correct bill. Remember all issues can and will be resolved with a little bit of effort, education and patience.

About the Author: Valerie Faltas, Property Tax Expert has been involved in all facets of real estate for over ten years including assessments, appraisals, estates and trusts, investing and much more. She is a Certified Property Tax Appraiser, Licensed Residential Appraiser and a member of the International Association of Assessment Officers. As a real estate investor and advisor she is well versed in all aspects of real estate. To contact Valerie Faltas go to her website: www.propertytaxlittleblackbook.com

An occupancy contract is drawn up among the property-owner and the lodger. It spells out the terms under which both the owner and the tenant have agreed upon on renting a place owned by the owner. The tenancy agreement can be a written or a spoken agreement. There is no statuary rule requiring all properties lent in the UK to have a printed tenancy agreement.

A tenancy agreement will be made up of expressed terms and of implied terms. Expressed terms are those which cover the details. The expressed terms in a tenancy agreement are:

Given name of the resident and the proprietor

Address of the land being borrowed

Date of start of the tenancy

Name and addresses of other persons authorised for by means of the property. This is lest of a dual rental.

The length of the contract

Amount of rent, and when it is due

If some other services are to be provided in the rental. approximating laundry, meals, payment of usefulness bills etc

Note requisite to be set ahead of vacating or taking back possession of the home.

These are the bare minimum state terms that are covered in a lease agreement. The unstated terms are that the property-owner will perform primary repairs. Your landlord will keep the supply of water, electricity, gas, sanitation, and heating in a good quality working order. You must be allowed to inhabit in concord without interference from your landlord. You must not be treated unfairly due to your sex, race, religion, sexuality, or disability. In return, you will occupy the place serenely and not indulge in any unlawful activities on the premises.

These are the terms that are covered in most common tenancy agreements. However, there can be other conditions, like regarding smoking or keeping pets. In case of there being no written agreement, you have the right to ask the rent collector to give you the name and address of the landlord. In case of a written agreement, you and your landlord will sign all the pages of the agreement and each one will keep a copy of it.

Tenancy agreements are like a contract and must be written in plain, simple English. You or the landlord can change a tenancy agreement, if you both mutually agree to do so. You or the landlord can end a tenancy agreement by giving the notice given in the tenancy agreement. You and the landlord can also agree to extend the tenancy on the same terms or on different terms.

A sham agreement is one which gives you or the landlord fewer rights than allowed by law. Whether the agreement is an oral or a written one, it will be termed as a sham agreement.

A tenancy agreement can be changed if both agree to change it. Let’s say, you suffer a disability, in that case your landlord is obliged by law to make changes to the property to cater for your disability. This is covered in both oral and written agreements.

The requirements of tenancy agreements differ for England, Wales, Scotland, and Northern Island. When taking or drawing up a tenancy agreement, it is best to check up on the applicable rules. In some places, written tenancy agreements are mandatory. It’s best to check with an estate agent or an advisory council what the statuary requirements are.

Despite global crisis, the Real Estate Market in Panama is still growing. It seems that the most dynamic and fast changing thing in this small yet thriving economy is the city landscape and skyline.

There are many new hotels that are scheduled to open in Panama city including Le Meridien, SuperClubs – Jamaicas all inclusive chain as well as Central Americas first Buddah Bar Hotel & Spa and the famed Nikki Beach Hotel.

The country has slowly been turned into the crossroads of the Americas attracting North, Central and South Americans doing business in the hemisphere. In order to support such growth, the country has been adding bridges, water treatment plants, renewable electric energy facilities and roads to the inventory of existing infrastructure available to the general population and to visitors. First-rate hospitals and medical treatments and the use of the US dollar as legal tender make this a top destination to move to from more expensive cities that offer the same amenities such as New York, London, Paris and Caracas.

From the thriving metropolis that is Panama City to the in the countryside, there is a range of Panama Real Estate options available. If you are moving to Panama, you have most likely been in contact with real estate brokers or have seen their web pages. There is a new service provided by a real estate facilitator (ERE) allows you to view properties offered by different brokers in Panama and even schedule an appointment if you are interested in viewing a particular property or even several properties in the same day. Friendly and bilingual staff will pick you up at your hotel or residence and take you to all of your property viewings. They are here to aide you in you every single step of the way. This can be from documentation to negotiation, closing and even coordinating your move from overseas. If financing is something you would like to consider, Emergis has strong relationships with the major banks operating in Panama and can facilitate this aspect of the transaction as well.

One of the best feature of the service is the fact that you can communicate directly with your Emergis Real Estate staff member right on the site. The Panama Real Estate portal www.emergisrealestate.com, has plenty innovative features such as the appointment scheduling service, one-click property removal from the database (which allows for an always up to date database consisting primarily of properties that are available for sale or rent in Panama City and the periphery), an area for buyers or renters to specify the type of property that they would like to purchase (number of bedrooms, number of bathrooms, number of square meters, and other property characteristics) which registered sellers and brokers on the system can view and respond directly to. You can even select which staff member you are comfortable with based on their experience in Panama Real Estate, education, languages spoken and photograph.

Currently Emergis Real Estate caters primarily to an English speaking public and soon it will launch a version of its portal in Spanish later in 2009. For all your Panama Real Estate apartment needs, visit the Emergis Real Estate website.