Living and investing in Florida.: January 2015

Monday, January 26, 2015

Housing demands rising.supplies is the issue

Housing demands rising. Supply is the issue

DAILY REAL ESTATE NEWS | MONDAY, JANUARY 26, 2015

Several signs in the housing market point to higher demand for real estate, but the big question remains whether the supply will be able to meet the rise in demand, writes Jonathan Smoke, chief economist at realtor.com®, in new commentary at realtor.com®.

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“Supply is quickly becoming the biggest concern for healthy growth in home sales in 2015,” Smoke notes.

Smoke points to the following three positive signs showing higher demand in the housing market:

Builders are more confident: Builders are remaining upbeat about the new-home market. The National Association of Home Builder’s Housing Market Index recently showed builder sentiment on the rise, with builders optimistic about the six-month outlook in the new-home market. New construction is starting to follow suit. Housing starts rose 4.4 percent in December, with that rise driven by an uptick in single-family construction. Single-family starts are at the highest number in six years, reaching a pace of 728,000 units in December. “That is a good early sign that homebuilders are gearing production for greater demand in the spring,” Smoke notes.

Low mortgage rates: Mortgage rates continue to hit new yearly lows, bringing borrowing costs down for home buyers and refinancers. As such, mortgage application activity rose to its highest level since June 2013 recently. The 30-year fixed-rate mortgage averaged 3.63 percent last week, it’s lowest weekly average since May 2013, according to Freddie Mac. But economists are warning that the low rates won’t likely stick around much longer and could move up to 5 percent by the end of the year.

Existing-home sales rebounding: Demand has been growing in the existing-home sales market too. The annual pace of existing-home sales was 5.04 million in December, 3.5 percent higher than last year, according to the National Association of REALTORS® latest report.

Housing supply remains the biggest issue, Smoke says. The inventory of existing-homes is at a 4.4-month supply at the current sales pace – well-below the 6-month supply that most economists consider healthy, according to NAR’s December report.

“We need more markets to see listing growth over the next several weeks to keep appreciation at healthy, normal levels,” Smoke says. “With three years of positive price appreciation behind them, existing-home owners in most areas should see conditions as very favorable for trading up. That is what the market needs to set the stage for significant growth this spring.”

Source: “Demand for Housing Is Up, But How About Supply?” realtor.com® (Jan

1888 Reverse Mortgage

The 5 Best Reasons to Get a Reverse Mortgage Right Now

Buck Wargo

Posted: 01/22/15 05:43 PM ET Updated: 01/23/15 03:59 PM ET

I love lists -- doesn't everybody? Well, here are the five best reasons to get a reverse mortgage right now.

And, yes, we're all worried about our retirement. Some of us have taken steps for years to prepare ourselves by setting aside money in our 401(k) and other investments. Some of us are still behind where we want to be and are anxious about what it means for our security and lifestyle once we quit working. Many will keep working to make up for their lack of retirement savings and opt to wait and take their Social Security benefits and let them grow. But many of us have an ace in the hole to turn to help fill in the gaps of our retirement and help us envision the dreams that we have once we stop working: A reverse mortgage. With a reverse mortgage, homeowners 62 and older receive a loan backed by the equity in their homes. The lender isn't repaid until the person is no longer living in the home or dies.

Homeowners can get a lump sum in the beginning and draw out more later. They can also have a line of credit from which to draw as needed. The reason to pursue a reverse mortgage is for the home's equity, since there's no longer any more asset-based lending ever since the mortgage crash and change in rules. Home equity loans are a product of the past. Today, they're income-based loans and as our income goes down, it becomes tougher to qualify for loans. You don't have the ability to access all that equity you have saved over the years, which was the whole point of buying the house -- that ability to access the equity in an emergency in your retirement. Those days are essentially over. Before turning 62, there's no longer the easy ability to draw from the equity in your house other than selling it. That's why reverse mortgages are becoming more critical in retirement planning because it allows you to maintain your home and lifestyle, and make money from it. There are plenty of reasons to secure a reverse mortgage. People can use them to buy a second home. Some may choose to retire early. Others may want to start a business. They give some people a chance to travel or do their bucket lists before they get too old. For many others, it's the money in the bank/peace of mind option that's attractive to them. Below are the five definitive reasons to get a reverse mortgage right now.

1. Second Home

Many are taking the equity from a reverse mortgage to buy a second home, either one they vacation in or rent out and bring in $2,000 to $3,000 a month that they add to their retirement income. In one example, a couple with no retirement savings and no income stream selling their home for about $600,000, took half that amount and invested it and other half to buy a four plex. They would use a reverse mortgage to pay for the remainder of the four plex. They had funds to fix up one of the units for themselves as part of a strategy to downsize. Their other three units were rented out to generate income that would supplement their Social Security benefits. That's an example of a couple completely changing their life by using a reverse mortgage. It doesn't have to be used for downsizing.

It could be that home next to the golf course or that condo in Hawaii that can be also used for rental income. If you live in New York City, doesn't the sound of a place in Florida to escape the harsh winter sound appealing? When you can use cash from the proceeds of the reverse mortgage to pay for the second home, you don't have to worry about mortgage payments any longer and if you want, you can draw income from it when you're not in Florida. That property will even appreciate and give you more to benefit from in the future. It doesn't even have to be a second home or a condo. Some may choose to spend it on a boat or whatever else their retirement dream is. Simply, a reverse mortgage is a vehicle to help you realize your dreams if you haven't properly planned for it.

2. Retire Early

When we turn 62 and have a several thousand dollar a month mortgage payment, we can opt for a reverse mortgage and take that mortgage payment we've been making and put into a retirement account and take proceeds from the reverse mortgage to pay the bills. That allows the 401(k) and other investments to keep growing for several years. You're better off leveraging the equity in your home and keeping the retirement savings in place because that's earning more money. Many older Americans have $100,000 and $125,000 in retirement income and that's not enough to live in once they stop working. Eliminating your mortgage payment at 62 -- even if you owed another 10 to 15 years on your home -- is going to jumpstart any additional retirement savings. If you work until you're 70 (as many people are choosing to do these days), that results in the best of both worlds. You get to keep your house, eliminate your mortgage payment and take that money to build your retirement savings that can last 10 to 20 years after you stop working. If you have plenty in savings, you can stop working 10 years earlier because you planned. You're a step ahead of others who lost money because of the stock market crash and didn't plan for retirement.

3. New Career

Anybody that's tried to obtain a regular business loan from a bank knows how difficult it has been to get one since the Great Recession. The same is true for many opting for Small Business Administration loans -- even for people who have a business with cash flow. It's hard to start a business unless you have a lot of capital in the bank. If someone opts for a reverse mortgage and takes out $150,000 to $200,000 in equity, they can parlay that into buying or starting their own business. Not everyone has the aptitude to start a business, but if you do, it's a smart way to take that small amount of money and turn into a long-term income stream and asset that eventually you can sell. That $150,000 over 10 years can be turned into more than $1 million in income for the savvy business owner. By using the reverse mortgage as a business loan to yourself, you don't have to pay that loan back, so your cost of capital is lower than the competition down the street. Potentially, you can be cheaper than your competition. Again, it's not an option for everybody because a lot of people go out of business. But for those who want to proceed, they know the biggest challenge is coming up with that initial capital. In the beginning, the need for cash is greater than the cash flow. When most business are started out of pocket, that's a huge advantage.

4. Travel Travel of any kind isn't an option for people who haven't planned for retirement. Taking care of daily expenses and needs is what's most important. But for some older Americans who have enough money stashed away for their retirement needs, they may choose a reverse mortgage to travel to places they've never been or address other wants on their bucket list. Many people, when they're too old to travel or otherwise hampered by poor health, often look fondly about the trips they took with their grandchildren, spouses and friends. Those are some of the greatest memories of their lives. Whether it's a trip around the world or a jaunt to some European or Asian capitals, many people want to go but don't want to touch their investment income for that purpose because it's expensive to do so. The equity in your home isn't earning a return and it's a perfect place to tap for beautiful memories.

5. Peace of mind Peace of mind is one universal pursuit most of us strive to achieve every day. The ability to not have to worry and have contingencies in place. The reverse mortgage is such a realistic vehicle for a lot of people. It's a line of credit that grows over time and is always available to you when you need it. You may not need it, but it's there if something happens. Let's say we get Alzheimer's or have a stroke and need assisted living. That's the worst time in your life to worry about how you're able to pay for it. You have so much going on, and everybody is stressed. You don't want to make financial decision in a crisis.

The reverse mortgage is a line of credit you can leverage when other unexpected financial hardships occur. It may only be a car engine blowing up or is damaged in some way and you need a new car. It's very inexpensive money from which to draw because there's no monthly payment being paid and none lost to the stock market by not keeping it invested. No one wants to sell assets at a low point when you bought it high. The peace of mind could simply be downsizing or paying for many years in an assisted living facility. Many people aren't prepared for elderly care. Leverage is why we bought the house, especially if some of us didn't plan for retirement, as we should have done. If you're not leveraging it, that equity has no value.

Not everyone understands what a reverse mortgage actually is and there is a lot of misinformation out there, even in otherwise reputable and reliable media sources. Some think the name means you have to give your house back. You don't. Maybe the Australian term of an opposite mortgage explains it better. It's your house in which you can enjoy the appreciation it has built over the years. It's only a mortgage that has the most flexible repayment terms there are. You can keep on making your mortgage payments for now, but you know if you lose your job, your health or you have to stop making payments, you aren't in danger of going into foreclosure. Yes, a reverse mortgage gives you peace of mind.

Now It Counts is the new destination for Americans 50+ covering financial, health, beauty, style, travel, news, entertainment and sports. Read more at; http://nowitcounts.com

39 Ways to Get More Social Media Followers

Social media marketing needs an audience to work. But how do you build your social media audience? Here are 39 ways to acquire followers and keep them!

BY JAYSON DEMERS

@jaysondemers

2.8k SHARES

IMAGE: Getty Images

Social media marketing works only if you actually have fans or followers. This article will walk you through 39 proven methods for increasing your followers across your social media accounts. There are three underlying elements that must take place in order for these to work:

You must be consistent. If you use any (or all) of these strategies for two weeks, and then give up and move onto something else, they won't work. These need to be practiced consistently over the long haul to be effective. If you have limited time and resources to commit to social media, I'd recommend choosing only a handful of these strategies and then making sure you carry them out consistently.

You must know what your audience really wants. What you think they want and what they actually want may very well be two different things. Take a look at your analytics to see which types of posts and content have been most popular; this is what they want to see more of.

You must be a good social media citizen.While some of the tips may seem more like social media best practices, keep in mind that growing on social media is as much about keeping your current followers as it is about gaining new ones.

Looking for more insights on social media marketing? Grab my e-book, The Definitive Guide to Social Media Marketing.

39 Strategies for Increasing Your Fans and Followers

1. Reach out to influencers: Find influencers in your niche using a tool such asBuzzsumo, and then share their content, tag or mention them, or comment on their blogs. As you build relationships, they are more likely to share your content with their followers.

2. Put social share buttons on each blog post: Make sure you include social media share buttons on each blog post, not just in your sidebar. This plugin for WordPress can help with that.

3. Post original, relevant content: This requires some outside-the-box thinking. Sharing other people's content should be a valuable part of your strategy, but make sure to share your knowledge and insights as well.

4. Periodically channel your email subscribers to your social media accounts:Every once in a while, encourage your email subscribers to follow you on social media.

5. Link to your social media accounts on your Contact and About Us pages: These visitors are already reaching out to you; give them another way to connect with you.

6. Identify popular posts to get more shares: Getting new fans often comes down to how often your content gets shared. A tool like Fanpage Karma can help you identify the most popular posts in your niche.

7. Be responsive: Posting engaging content is just one piece of the puzzle. Respond to questions, comments, and complaints in a timely manner.

8. Hold giveaways and contests: Hold contests and make liking your Page or following your Twitter account a requirement for entry. Rafflecopter is a fantastic tool for this.

9. Actively find and follow others: Don't just count on others to find you; go out and actively find others in your niche whom you can follow and engage with.

10. Tell stories: To avoid being overtly promotional, use stories to connect with and engage your fans. Stories are far more likely to be shared than promotional content. For more on this, see How to Maximize Your Marketing Campaign Through Storytelling.

11. Use relevant hashtags: Use a tool likeHashtagify.me to find relevant and trending hashtags. Use these in your posts to attract new followers who are searching for those hashtags.

12. Streamline your efforts: Being active and engaged on a few social networks will net you more followers over the long haul than sporadically posting on many networks.

13. Post viral content: Easier said than done, right? Post Planner can help by providing you with images and content that have been proven to go viral.

14. Post often: Optimal posting frequency will differ between networks and audiences. Test out different posting frequencies and see which ones result in the most engagement and shares.

15. Focus on quality over quantity: While posting often is important, social media growth is more likely to happen when you're focusing on sharing amazing, quality content that you know your audience loves.

16. Link to your social media accounts everywhere: Don't be shy about linking to your social media accounts. Do so in your newsletter, email signature, blog, etc.

17. Discuss social media conversations on your blog: Entice your blog readers to follow you on social media by crossing the blog/social network divide. Blog about heated or interesting conversations taking place on your social media accounts.

18. Offer incentives for people to follow or like you: Offer your social media followers exclusive discounts, freebies, or coupon codes.

19. Guest blog on popular niche sites:Regularly contribute guest posts to popular niche sites and link to your social media accounts in your bio. For help getting started, see "The Ultimate, Step-by-Step Guide to Building Your Business by Guest Blogging."

20. Add Facebook and Twitter widgets to your site: Go beyond simple social media icons, and use a Facebook Like Box orTwitter Embedded Timeline on your site or blog.

21. Promote your social accounts in-store:Offer your in-store guests an incentive to like or follow you on social media.

22. Try Facebook's promoted posts: Extend your reach by promoting posts that have a history of getting engagement.

23. Give stuff away: Incentivize likes and follows by giving away free product samples or prizes for new fans or followers.

24. Cross-promote with a complimentary business in your niche: Connect with other businesses in your niche and promote each other's social media content.

25. Build network-specific landing pages:Create landing pages on your site for visitors from each social network you're on, and then link to these pages in your social media bios. This may increase your follows only marginally, but you should see an increase in traffic and conversions.

26. Provide valuable education without being a know-it-all: Unique, valuable content that only you know has a great chance of getting shared. Think about what info or insights you can provide based on your unique experiences and industry knowledge.

27. Use humor: Evoking emotions (positive or negative) through your posts is great for increased sharing; however, posting funny or happy content will net you more sharing overall.

28. Reshare other people's content: Share posts, images, and tweets from other businesses, and they'll be more likely to share yours.

29. Become a valued member in an industry LinkedIn group: As you provide valuable insights, group members will be more likely to want to hear more from you on social media. For more on this, see my article "The Definitive Guide to LinkedIn Groups for Marketing."

30. Create topical boards on Pinterest:When naming Pinterest boards, be sure to target keywords people are actually searching for. To see what people are looking for, start typing possible keywords into the Pinterest search box, and see which keywords are auto-suggested.

31. Set a goal: Set short-term, specific goals for how many new fans or followers you want. This will help you keep your efforts focused and give you the best chance of actually achieving your goal.

32. Be a source of trending content and breaking news: Set up Facebook Interest lists and follow leading industry sources on Twitter, and then share breaking news with your followers. To find more info to share, see my article "How to Find Trending Blog Topics Your Audience Will Actually Care About."

33. Post only your best photos on Instagram: This suggestion goes along with an earlier one--focus on quality over quantity. With users having shared over 20 billion photos to date, posting a ton of poor quality images isn't going to get you far. Choose your best four to six photos each day and share the cream of the crop.

34. Be relatable: Let your fans and followers know you're a real person rather than a faceless business; this will make sharing your content with their friends feel like less of a risk.

35. Cross-promote your social media accounts: Periodically promote your other social media accounts to your fans and followers.

36. Answer questions on abandoned Facebook Pages: You'd be surprised at how many big brands have massive numbers of Facebook fans, and yet virtually ignore the questions and comments these fans leave. Respond in a helpful, non-promotional way to unanswered questions (and be sure to answer as your Page).

37. Include a social media call to action on your business card: Hand these out at trade shows, networking events, and speaking engagements.

38. Make sure your social media usernames are consistent: If you want people to actually find you when they search for you by name, make sure your account handles and usernames match your business name. Avoid abbreviations whenever possible.

39. Make your blog content tweetable with a click: Use a plugin such as Inline Tweet Sharer to encourage visitors to share your tweetable content.

What other strategies or tips would you add to this list? Share in the comments below!

LAST UPDATED: JAN 7, 2015

2.8k SHARES

Sunday, January 4, 2015

Amazing photography

How to shoot a hyperlapse (the easy way!): http://youtu.be/-6SgaS4dEXQ