Getting real estate advice from Uncle Sam?

Posted by Benji Riggins on March 24, 2009 under Articles | Be the First to Comment

As anyone who has decided to buy or sell a piece of property can tell you, the entire process can seem daunting and intimidating. Many who seek the help of a professional real estate broker spend many a sleepless night trying to decide who is taking advantage of them more: the broker or the bank? While there is no cure-all to this ages-old dilemma, there is a new pamphlet available that helps real estate newbies navigate their way through some of the red tape that comes with buying or selling real estate.

And it’s from the United States Government.

No, really.

The Federal Trade Commission has recently issued a helpful guide that helps new buyers or sellers with some frequently asked questions concerning real estate. Titled Selling Your Home? Tips for Selecting a Real Estate Professional, the guide focuses on the proper amount you should expect to pay for a real estate commission, the ins and outs of contracts as well as business models.

While the guide is a bit slim, weighing in at only four pages, it does come with some useful info. Under the section about commissions, the guide explains that while six percent is the industry standard, it is negotiable, and if your real estate agent tells you there is a local or federal law on the books that says the commission must stay at that rate, they are lying and it’s probably a good sign to find a different broker who will be honest with you.

The guide goes on to encourage prospective clients to try to negotiate for a lower commission, since the broker needs your business just as much as you need theirs.

In the next section, the guide explains the difference between full-service real estate brokers, and discount brokers and emphasizes that if you go with a discount broker, you may have to do more of the leg work yourself. The guide also says that while a full-service agent usually provides all needed services for one flat rate, the discount broker is more likely to have an “a la carte” approach, where for each additional bit of help, there is an additional cost.

The guide goes on to provide advice on negotiating contracts in your favor and not the banks, as well as info on hiring a trustworthy real estate broker.

While taking advice from the federal government on, say, invading Iraq may not be a good idea, this pamphlet may end up being a godsend for those needing basic real estate advice. The pamphlet can be picked up at the FTC’s website ftc.gov/credit.

Shedding light on car insurance savings

Posted by Benji Riggins on March 18, 2009 under Saving money | Be the First to Comment

It can be easier than you think to put the brakes on high auto insurance rates – as an independent agency, Statewide Insurance can help! We can review your policy and possibly help you find a variety of illuminating ways to save money. Here are some things you may want to consider:

• Ask us to check several companies’ rates. This is the single most important thing you can do to get the best possible rate—and we can do it for you quickly and easily. The difference between the highest and lowest rate available to you from different companies could vary by hundreds of dollars.

• Reduce or drop physical damage coverage on an older car. Depending on your car’s age and where you live, comprehensive and collision coverage may not be worth keeping. We can give you advice on whether it makes sense to reduce or drop this coverage altogether.

• Raise your deductible. According to the Insurance Information Institute, raising your deductible from $200 to $500 could reduce your collision and comprehensive cost by 15 to 30 percent. In addition, because the average driver files a collision claim only once every ten years, odds are that over the lifetime of your car, a higher deductible will save you money. We can show you how raising your deductible will lower your premium.

• Look for discounts. Many insurance companies reduce premiums for certain driver traits or car features. For example: being a homeowner for more than three years, nonsmoker, nondrinker, students with good grades, senior citizens who have taken an approved defensive driving course, people who only drive for pleasure, cars kept in garages, antilock brakes, antitheft devices, air bags, etc. Ask us to check.

• Don’t assume having your car and home insured by the same company is the best option. Because auto insurance rates vary so much from company to company, it may make sense for you to have your car and home insured by separate companies. Let’s talk about it.

To learn more about all an independent agency can offer you, call us at 704/821-7630

Accident avoidance

Posted by Benji Riggins on March 4, 2009 under Safety | Be the First to Comment

Although taking care of you in the event of an accident is what we do, we care about your safety, and hope you never have the need to file a claim.  Here are a few precautions you can take to prevent an accident:

• Don’t follow too closely.  The majority of claims are a result of rear-end accidents.  Leave a two-second cushion between you and the car ahead.
• Look over your shoulder before backing up.  Your mirrors ahve a margin of error; don’t rely on them alone.
• Pull to the shoulder and take a break if you feel sleepy.  Tired drivers cause an estimated 100,000 accidents in the U.S. every year.
• Prepare your car for night driving by cleaning lights and windows once a week.  Traffic deaths are three times more likley to happen at night.
• Avoid speeding.  Check your speedometer every 60 seconds – don’t depend on the flow of traffic to decide how fast to go.
• Adjust your headrest to avoid potential injury.  The top of your headrest should be at eye-level, in order for it to protect you in the event of an accident.

We realize accidents aren’t always avoidable, so in the case you are involved in an accident, be sure to contact us immediately.  Life doesn’t stop when an accident occurs, and our job is to keep your life moving.

Benji