Home prices rebound

September 25, 2012 By Leave a Comment

By Chris Isidore @CNNMoney September 25, 2012: 10:11 AM ET

Home prices are back to 2003 levels in the latest sign of an improved housing market.

NEW YORK (CNNMoney) — In another sign of a turnaround in the long-battered real estate market, average home prices rebounded in July to the same level as they were nine years ago.

According to the closely watched S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, the typical home price in July rose 1.6% compared to the previous month.

It marked the third straight month that prices in all 20 major markets followed by the index improved, and it would have been the fourth straight month of improvement across the full spectrum if not for a slight decline in Detroit in April.

The index was up 1.2% compared to a year earlier, an improvement from the year-over-year change reported for June. While home prices have been showing a sequential change in recent months, it wasn’t until June that prices were higher than a year earlier.

The July reading matched levels last seen in summer 2003, when the market was marching toward its peak in 2006. The collapse of the market after that led to the financial crisis of 2008.

“The news on home prices in this report confirm recent good news about housing,” said David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. “Single-family housing starts are well ahead of last year’s pace, existing home sales are up, the inventory of homes for sale is down and foreclosure activity is slowing.”

Record low mortgage rates and a tighter supply of homes available for sale have helped to lift home prices. Lower unemployment also has helped with home prices, although job growth in recent months has been slower than hoped.

Earlier this month, the Federal Reserve announced it would buy $40 billion in mortgage bonds a month for the foreseeable future. This third round of asset purchases by the central bank, popularly known as QE3, is its effort to jump start the economy through even lower home loan rates.

Related: Best home deals in Best Places

Mike Larson, real estate analyst with Weiss Research, said part of the improvement in the housing market is due to investors using the low mortgage rates to buy up homes that are in foreclosure and renting them in a strong rental market.

But he said that he doesn’t think there’s much chance of housing prices forming any kind of new bubble in the foreseeable future.

“Clearly the worst is behind us for this market., but this is not a market that is going to take off again,” he said. “While you have a firming up, you still have tight lending standards and people who have been burned are reluctant or unable to get back in the market.” He predicts it will take several more years before housing prices can gain more than 1% to 2% a year.

Related: Buy or rent? 10 major cities

But that is good news for a housing market that was plagued by plunging home values and high foreclosure rates for much of the last six years. And the good news has the potential to build on itself, said Joseph LaVorgna, chief U.S. economist for Deutsche Bank.

“Housing remains a rare bright spot in an economy that is otherwise muddling through,” he wrote in a note to clients Tuesday. “The price trend for housing is significant, because it provides economic stimulus via stronger household balance sheets.”

Correction: An earlier version of this article incorrectly reported that home prices had reached a 9-year high. In fact, they rebounded to the level last seen in summer 2003, before their peak several years later. To top of page

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America’s Hippest Hipster Neighborhoods

September 24, 2012 By Leave a Comment
America's Best Hipster Neighborhoods

Want to roll out of bed and pick up a cup of single-origin java from a coffee shop on your corner? Or grab a gourmet grilled cheese sandwich from a food truck parked down the street? Does a dream weekend include foraging for organic veggies at a farmers market and watching the latest hot indie band play on a small stage through the wee hours of the morning? Then, my hipster friend, Los Angeles’ Silver Lake is the neighborhood for you.

Silver Lake takes the top spot on Forbes’ inaugural list of America’s Best Hipster Neighborhoods. Nestled between Echo Park and Los Feliz, the trendy community boasts some of the nation’s most lauded food trucks and farmers markets, a multicultural blend of residents with eclectic professions, and a booming arts scene. Even the buildings exude an avant garde aesthetic a hipster could love: Silver Lake is home to some of the most celebrated modernist architecture in the country, including Richard Neutra’s VDL Research House and John Lautner’s Silvertop.

“It is amazing how many artists, musicians and designers and more traditionally ‘hipster’ occupations live in Silver Lake,” says Dabney Lawless, a vice president of Nextdoor.com, a private social network for neighborhoods. “It just blows every other neighborhood away.” In other words, if you want to slurp Pabst Blue Ribbon in your skinny jeans, you won’t be alone.

Merriam-Webster somewhat vaguely defines a “hipster” as “a person who is unusually aware of and interested in new and unconventional patterns.”  While what exactly qualifies someone as a hipster may be up for debate, to compile our list, we took a quantitative approach to determining the 20 places in which hipsterdom is most likely to flourish.

The San Francisco-based startup Nextdoor.comhelped us dig through data on more than 250 neighborhoods in the biggest U.S. cities. We assessed each area’s walkability according toWalkscore.com; the number of neighborhood coffee shops per capita (with some help from NPD Group’s report); the assortment of local food trucks (and their ranking according to Zagat’s); the number and frequency of farmers markets; the selection of locally owned bars and restaurants; and the percentage of residents who work in artistic occupations. We also factored in Nextdoor’s Neighborhood “Hipness” Index, which is based on how often words associated with hipness (for example art, gallery, designer, musician) appeared on each Nextdoor neighborhood’s site pages, and Nextdoor conducted a survey in which members sounded off on their communities.

Silver Lake is followed closely in second place by another Golden State hotspot, San Francisco’s Mission District. The city’s oldest neighborhood boasts a bevy of mom-and-pop eateries and watering holes, thrift shops and galleries. And artists here like to leave their mark: the Mission has the highest concentration of street murals in the city,according to the San Francisco Travel Association.  Lawless notes that rents are lower in the Mission than many other city neighborhoods, making it “a great neighborhood for young trendsetters.”

In third place is the unofficial East Coast birthplace of hipsterism, Williamsburg. The Brooklyn enclave has it all: coffee shops, food trucks, nightlife, farmers markets, restaurants, boutiques and a gaggle of artsy residents sporting Keds sneakers and idiosyncratic tattoos.

Gallery: America’s Best Hipster Neighborhoods

Williamsburg may have spawned the hipster craze, but the neighborhood is evolving in a direction that’s far less hospitable to the patchily employed, fedora-wearing crowd.  “The more successful neighborhoods like Williamsburg become in attracting people, the real estate prices go up and a lot of the urban pioneers end up moving on,” says David Morley, a research associate with theAmerican Planning Association, a nonprofit educational group for community developers.

Real estate prices in the north Brooklyn neighborhood have been steadily rising, says Justin Daly, a Williamsburg-based realtor with MNS. His firm reports that Williamsburg rents in July were 23% higher than a year ago. More interesting, as of June, the mean rent for a studio apartment in Williamsburg was $200 higher than for a comparable (albeit smaller) apartment in Manhattan’s Greenwich Village, according to the firm’s research. It has led to a slight exodus of artists and a new influx of families.

Portland, Oregon’s Pearl District, which has been undergoing urban renewal since the 2000s, has a similar migration tale to tell.  The neighborhood, currently hosting MTV’s latest edition of “The Real World,” is No. 5 on our list thanks to its intense caffeination (it has the second-highest concentration of coffee shops of neighborhoods on our list), a flourishing foodie culture, and a colorful collection of art spaces. As gentrification progresses, some hipsters are fleeing the rising costs of new high-rise condos and warehouse-to-loft conversions for the less established (and less pricey) Mississippi Ave and the Alberta Arts District neighborhoods. (Probably the MTV reality show doesn’t help either.)

In fourth place on our list is Chicago’s Wicker Park. Morley, a Wicker Park resident himself, touts its easy transit access, range of housing types, variety of shopping and services, and lively streetscape that affords a high degree of social interaction.  “I love being able to do my shopping in the neighborhood and being able to see lots of people in the streets.”

Gallery: America’s Best Hipster Neighborhoods

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Space shuttle Endeavour makes its last landing at LAX

September 21, 2012 By Leave a Comment

L.A. NOW by LA Times

SOUTHERN CALIFORNIA — THIS JUST IN

Space shuttle Endeavour makes its last landing at LAX

September 21, 2012 | 12:50 pm

Endeavour City Hall
Space shuttle Endeavour has touched down at LAX, marking its final landing after a three-decade career in space and bringing an end to NASA’s space shuttle program.

As elsewhere along its choreographed flyover in California, eager fans of the shuttle — filled with both curiosity and nostalgia — gathered at the United Airlines hangar to watch the Endeavour taxi in. A man holding an American flag popped out of the roof of the cockpit of the 747 carrying Endeavour on its back.

As the shuttle flew low over LAX, Kathy Sanders-Phillips was teary-eyed.

PHOTOS: Space shuttle Endeavour 1991-2012

“Oh my god,” she said. “Oh my god.”

Sanders-Phillips watched the shuttle from the United hangar with her husband, Ken Phillips, the aerospace curator at the California Science Center who first thought to bring an orbiter to the museum in 1991.

Phillips said he feels a personal connection to Endeavour — his college friend, Ron McNair, was one of the astronauts killed when Challenger exploded. Endeavour was built to replace Challenger.

“I have to hope Ron is looking down on this,” Sanders-Phillips said, her voice breaking.

A welcome ceremony will be held in the hangar for donors and employees of the California Science Center, NASA and local foundations.

Nine-year-old Julian Caldera was there and excited he had been able to meet three astronauts on hand.

“Not many little kids get to do that,” he said.

Astronaut Mike Fincke, who flew Endeavour’s final mission last year, explained to Julian how shuttles land and where they sit. Fincke said he wanted to go to space as a 3-year-old, after watching astronauts walk on the moon.

FULL COVERAGE: Endeavour’s final journey to L.A.

The former Endeavour astronaut said he’s glad to see the shuttle being well-received in Los Angeles

“I can feel the vibe; it’s just electric” — but is more excited to see how it affects children like Julian. They’re going to be inspired, and they’re going to be the next generation to come of doctors and engineers and scientists and astronauts,”Fincke said.

“It happened for me, and I know it’s going to happen for all these other kids.”

Some gathered at the hangar couldn’t believe this moment had finally arrived.“It’s here. It’s really here,” said Science Center President Jeffrey Rudolph.Ken Phillips, aerospace curator for the museum, described it as an “adreniline-charged day.”

“It’s hard to find the words to describe today,” Phillips said.

In Santa Monica, crowds lined the pier as well as points along the beach as the shuttle entered L.A. County.

“Amazing, amazing, amazing,” said Derek Johns, 41, of Los Angeles, who shot photos at the pier.

“I got chills,” said Dave Atkinson, an El Segundo councilman who watched the shuttle from the city’s overlook. “This is America at its finest.”

At the charter school near the California Science Center, children cheered and ran as Endeavour made a low pass over its future home.

“That was awesome,” said fifth grader Yaslynn Thomas. “Awestruck. I never thought a space shuttle would ever come to a school. I always thought it would go to a special space landing place.”

ALSO:Space shuttle Endeavour: Where to spot the shuttle

Space shuttle Endeavour in California: Submit your photos

‘Space geeks’ welcome shuttle Endeavour to Edwards Air Force Base

— Kate Mather at LAX, Jeff Gottlieb at El Segundo bluffs, Matt Stevens at Santa Monica Pier and Rosanna Xia at California Science Center

Photo: The space shuttle Endeavour flies over City Hall in Los Angeles during flyovers of Southland landmarks. Credit: Marc Martin / Los Angeles Times

 

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Make Your Fixer-Upper Fabulous on a Budget

September 20, 2012 By Leave a Comment

So many makeover projects, so little time and money. Here’s where to focus your home improvement efforts for the best results

When the to-do list around your house includes everything from “new roof” to “gut kitchen” and “buy furniture” (and you could easily pour your entire budget into just one room), you know it’s time to make a plan. These 12 ideas will help you make the important decisions on where to put your money (and sweat) to make your house budget stretch the furthest.
traditional exterior by Allison Ramsey Architects
Where to begin? Big projects, including repairs to the roof, the foundation and systems (like heating and cooling), should be prioritized, for obvious reasons — with one caveat. If a major project needs to be done but is not totally urgent (say, your home inspector said you’ll need a new roof within the next few years), you might want to put more of your current savings toward cosmetic fixes you will appreciate right away.Landscaping is a good example. Early on is the time to begin planning (and planting) upgrades to your yard. Mature trees and plantings add significant value (and curb appeal) to your home, and the most budget-friendly way to get there is to buy small, young plants and give them time to fill in.How to boost your curb appeal
Think about functionality first. Fancy appliance upgrades can wait if what you have works. Focus your budget on essential big-ticket projects as needed, and after that on beautifying projects that will give you the most bang for your buck.
eclectic kitchen by Keep Smiling Home
Get creative to keep costs down in the kitchen. Katherine Fugit and husband, Conan, whose kitchen is shown here, were able to accomplish an impressive transformation in their kitchen for less than $400. Rather than purchase new appliances, they scored a cool vintage stove for $45 and painted their old fridge with chalkboard paint.See the rest of this house
by Keep Smiling Home
Be willing to learn a new DIY skill. As a point of reference, here’s the before photo of the Fugit kitchen. Several layers of funky linoleum were removed, and the couple refinished the hardwood floors hiding underneath. By putting in their own elbow grease and forgoing expensive new products, they were able to create a warm and functional kitchen within their tiny budget.If you have never picked up a paintbrush (or rented a power sander), now is the time to dive in and pick up that new skill. If you are nervous, check your local home improvement shops — many offer free classes in everything from painting to building cabinets.
eclectic kitchen by Whimages
Paint or refinish cabinets rather than replace them. Kitchen cabinetry is one of the biggest-ticket items in a kitchen remodel, so unless your current cabinets are completely beyond repair, make do and mend them. You can’t go wrong with black or white, and new knobs and bin pulls will give the cabinets a completely different look for a few extra bucks.8 paint palettes for kitchen cabinets
Consider doing without the medicine cabinet and vanity lights. In the bathroom, consider choosing a regular flat mirror paired with sconces instead of the expected off-the-shelf mirrored cabinet and row of lights. This is a much more current look, and if you hunt for a sale, it should be a fraction of the cost of most products made specifically for the bathroom.
traditional kitchen by Stephanie Wiley Photography
Do swap out kitchen and bath faucets. Sleek new faucets can upgrade the entire room, and big-box stores often have great-looking options at a low cost.
modern pendant lighting by West Elm

Upgrade outdated light fixtures. Many can be found for well under $200, and the difference that beautiful lighting makes in a home is immense. Go for simple shapes and useful details, like a diffuser covering the bottom of a pendant light (as in the one from West Elm shown here), which shades your eyes from the bare bulb when you’re seated underneath.
Lettered Cottage Dining Room
Save on window coverings. Surprisingly, drapes and blinds can add up to be one of the most expensive purchases in decorating your home. If you need to cover lots of windows, save your pennies by choosing off-the-rack curtains (hem them yourself) and simple matchstick blinds.Style tip: Inexpensive curtains look far more chic in solid, neutral hues; natural fibers (cotton, linen etc.); and pole-pocket or clip-top style. Tab tops tend to look a bit saggy, so I would avoid those.
eclectic by Kate Jackson Design
Decide what to cover up — and what to reveal. A before shot shows how this living room needed some serious TLC. The dingy brick fireplace stole the spotlight, while hardwood floors hid beneath scratchy industrial-blue carpet. But then …
eclectic living room by Kate Jackson Design
Paint outdated brickwork for an amazing after. Here is the after. Interior Designer Kate Jackson gave the space a coat of fresh, white paint and removed the carpeting to show off lovely hardwood floors. The whole space feels completely transformed.See the rest of this project | What to know about painting brick
traditional exterior by Stephanie Wiley Photography
Enhance curb appeal with key details. Have you noticed a theme? Embrace the details. They are the budget decorator’s best friend. When it comes to curb appeal, try painting (rather than replacing) the front door, freshening up trim (rather than painting the whole house) and adding potted flowers, new house numbers, and fresh chair or bench cushions.

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Can You Afford to Buy a Second Home?

September 19, 2012 By Leave a Comment

By Jeff Brown
With more and more signs that the housing market is inching off the bottom, homeowners with good credit and lots of resourcesare once again asking the question: Can I afford a second home?There’s something irresistible about the dream of a vacation place at the beach, lake or in the mountains. Summer vacations, the clan gathering for holidays, a place to pass down through the generations… It’s the American Dream, Act II.

The problem, of course, is coming up with the money. If you don’t have a trunk full of cash, the next easiest option is to borrow against your primary residence, thus avoiding the complex issues raised by a loan application specifically to buy a second home. But to borrow against your main home, it must be worth substantially more than you owe on a mortgage or home equity loan.

To take out a new loan to buy a second home you will have to convince the lender you are an especially good risk. That’s because lenders know that people are more likely to default on payments for a second home than a primary residence, or to skimp on maintenance or fall behind on property taxes or insurance.

So the first issue is your debt-to-income ratio, figured by dividing your total monthly debt payments for everything — existing mortgage, the new mortgage, car and credit card payments, and so on — by your gross monthly income. If the figure is less than 36 percent, you have a fair shot at a loan, if your payment history and credit rating are good. Some lenders will approve applicants with higher ratios; you’ll have to shop around.

Also expect lenders to demand a down payment of at least 20 percent, possibly twice that much, or even more. A large down payment reduces the loan-to-value ratio, figured by dividing the loan amount by the property’s current value, estimated by an appraiser approved by the lender. The smaller the loan relative to the value, the more likely the lender would recover what it is owed if you default and the lender must foreclose and sell the property.

You’re also likely to pay a higher interest rate on a mortgage for a second home — again, to offset the greater risk to the lender.

Discouraged yet? Don’t be. After all, even if lenders are more conservative these days, they make money only if they approve loans.

To make all this easier, try this calculator from The Mortgage Professor website. In the Occupancy Type window click Second Home. Note that in the Monthly Debt Payments window you should include your current mortgage payment if you will add a new mortgage for the second home.

Also play with this calculator from SmartMoney.

Before going too far down the road, check with some lenders for down payment requirementsand interest rates on second-home loans. Until then, experiment with down payments of 20 percent, 30 percent and 40 percent, and add 0.5 to 1 percentage points to the mortgage rates from the Bankingmyway.com survey.

For a sense of how lenders approach second-home applications, look at this site from Wells Fargo. It shows, for example, that it is difficult to get potential rental income included in the loan qualification calculation, a key consideration if you plan to rent out your second home part of the time.

Even if a lender will approve your loan, think about how comfortable you would be with this new financial obligation. You’ll need a healthy financial cushion for unexpected repairs and upkeep, a drop in your pay, a shortfall in rental income or a jump in taxes or insurance fees.

Finally, give your dream a reality check. Many people find, for example, that they lose interest in vacationing at the same place all the time. And a second home can someday become a bone of contention among the buyer’s children or grandchildren.

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U.S. existing home sales rise in August, prices up from year ago

September 19, 2012 By Leave a Comment

WASHINGTON, Sept 19 | Wed Sep 19, 2012 9:59am EDT

(Reuters) – The pace of U.S. home resales rose in August to its fastest in over two years and the price for sold homes climbed from a year earlier, hopeful signs that a budding housing market recovery is gaining traction.

The National Association of Realtors said on Wednesday that existing home sales increased 7.8 percent last month to an annual rate of 4.82 million units last month.

That was the fastest annual rate since May 2010 and well above analysts’ expectations of a 4.55 million-unit rate.

Nationwide, the median price for a home resale rose to $187,400 in August, up 9.5 percent from a year earlier as fewer people sold their homes under distressed conditions.

The nation’s inventory of homes – those for sale on the market – rose 2.9 percent during the month to 2.47 million.

“The housing market recovery is becoming much more convincing,” said NAR economist Lawrence Yun.

The price increase is measured against August 2011, and since then distressed sales have fallen to 22 percent of total sales from 31 percent. Distressed sales also fell in August of this year compared to the prior month.

While the broader U.S. economy appears to be losing steam, housing has gained traction and has become a relative bright spot

 

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Five Things Stagers are Tired of Seeing

September 18, 2012 By Leave a Comment

DATE:MARCH 5, 2012 | AUTHOR:ROSLYN ASHFORD | CATEGORY:TIPS & ADVICE

Last  week, I conducted an informal survey of home stagers from the US and Canada on what they are tired of seeing in homes to be staged.  The responses were varied, but the issue below are the ones that bubbled to the top.  Stagers often meet with homeowners who are preparing their home for the market, and get to see a lot of homes. Here are a few “trigger” points from them, but I am sure there are more!

Dusty fake plants

There are number of easy to grow houseplants widely available, from the virtually indestructible snake plant to the common philodendron.  Some plants thrive well in low-sun and others work well with lots of sun and less watering.  Consequently, there is really no need for fake plants in real life!  They end up being dust collectors!

Messiness

Now we all know that not everyone is Felix Unger neat.  But if you KNOW your house is on the market (hint – there is a real estate agent‘s lockbox on the outside of your front or side door), there is no need to leave your home with underwear on the floor, unmade beds and stack of laundry on the coffee table.   Would YOU be motivated to buy a home that shows like this?  Why leave it like that for someone else?

Popcorn ceilings and wood paneling

What else can be said, these items instantly date your home.  If only I had a magic wand to make all the bad ceilings and wood paneling go away.

Kitchen cabinets busting at the seams

You know all of those small plastic containers accumulated from the weekly trips to the deli at the grocery store?  Yes, it is okay to recycle these, along with plastic bottles, cans and glass bottles. Or you could even include some when you donate clothes to local shelters or food to local food banks. Just know that you don’t have to keep each and every one that you receive.  Because when a buyer opens a cabinet door and they all fall out – so not cool.

Houses with too many pet items

Sellers – not everyone loves your pets like you do. Not only should your pets be invisible during showings but their accessories must go as well. That would be pet toys, food and water bowls, perches, dog beds, dog and/or cat carriers, large containers of food etc.  Not saying you have to toss it, but please find a way to store them, out of way for showings.

I am sure there are plenty more to add…fire away in the comments below!

Roslyn Ashford, MBA, is a former corporate recruiter turned home stager, and native Washingtonian (as in DC).  She hosts a bi-weekly tweet chat for home stagers and loves to stage small and vacant homes. Learn more about her growing company here or follow her on Twitter to keep up with the daily hilarity!

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

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The Best Little List of Insurance Tips Ever!

September 17, 2012 By Leave a Comment

What Your Insurance Agent Forgot to Tell You…

By Bobbie Sage, About.com Guide

Learning about insurance is excruciating for some. How many times have you read about someone wanting to sit down and read a good book on insurance? Yeah, it doesn’t happen often. And your insurance agent… do you think they are going to tell you all the insider insurance stuff?

So, if you have trouble reading a full article on any insurance subject or if your insurance agent is not your best friend, these quick tips will get you enough insurance knowledge to make you look like you know what you are talking about… and I bet you will learn a thing or two! Of course, going more in depth with your insurance knowledge is best so let this be a springboard for you to eventually dig into more insurance information!

This list will be updated regularly with great quick tips. If you have any tips you think are worthy of this list please email them to me.

So, here goes… The Best Little List of Insurance Tips Ever!:

1. One of the best ways to save on your auto, home, or health insurance is to reduce your deductible. You don’t want to make a claim anyhow on an amount you can afford, so raise your deductibles to the top amount you would be willing to pay out of pocket before your insurance kicks in. Raising your deductibles can save you a lot of money so it is worth checking into.

2. Get to know your grace period! Just because you forgot to pay your insurance bill on time does not mean it is canceled. Most policies have at least a 30 day grace period in which you can make your payment and your policy will still remain in effect. So before you assume your insurance is gone, check out your grace period and pay up!

3. Keeping your policies with one agent can pay off. Sometimes you can find cheaper insurance at different agencies but there are two reasons to stay with one insurance company or agent: First, you can get a multiple policy discount and second, your insurance agent is likely to work harder for you when it comes to claims and service.

4. Ask for discounts! Don’t assume your insurance agent will automatically give you all the discounts available. This is not because they don’t want to but because they don’t always know what discounts apply to you.

5. Credit and insurance goes hand and hand. Most insurance companies are partially basing rates on your credit history. Whether you think it is fair or not, it is happening. So, if you have some small credit issues get them cleaned up or if you can’t and still want to save, shop around because each insurance company has a different way to evaluate your credit.

6. Skip the credit card insurance offers and warranties. Those offers by your mortgage or credit card companies to pay your balances are not worth the cost. It is always better to make sure you have a good life insurance policy to cover your debts. Also, extended warranties are just mini-insurance policies and they are hardly ever worth the amount you pay for them, especially if you take care of your items.

7. Need cheap health insurance? Choose a high deductible policy and haggle with your doctor! Yes, you are comfortable doing it with the used car salesman so why not with medical professionals? People do it, even insurance companies haggle and get rates reduced! Getting a high deductible insurance policy, or better known as “emergency insurance,” will save you tons of money in premiums because it only kicks in usually after you have paid the first 5-10 thousand dollars (hence “emergency policy”). So, if you have other procedures the doctor would like to do that you will be paying for out of pocket… haggle with your doctor or the hospital. It sounds strange but you can reduce your costs and don’t worry because others are doing it too!

8. You may not have to pay that “out-of-network” charge on your health insurance bill.As long as you followed your obligations of choosing an in-network doctor and an in-network hospital, if for some reason another professional at the hospital gives you care and they are not in-network then you don’t have to pay. Your health insurance company will send you a bill anyhow, hoping you will pay but make sure you make it clear that you know you are not obligated to pay.

9. Insurance agents make way less on term life insurance. Term life insurance is basic life insurance that does what it is meant to do: it gives you a certain amount of life insurance for a certain amount of time. It is one of the most popular choices in life insurance because most families just get it while their kids are young… most people don’t need life insurance when their dependents do not depend on them anymore. It is also very popular because it is the lowest cost option in life insurance and therefore gives you the biggest life insurance bang for your buck. That makes it a very low commission product. This is not to say that other life insurance options are not a good choice, but make sure you know why your agent is trying to sell you a particular life insurance product.

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