June 04, 2017 at 07:12PM
from Ben Martin
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Showing posts with label 2017 at 07:14PM. Show all posts
Showing posts with label 2017 at 07:14PM. Show all posts
Sunday, June 4, 2017
Online mortgage calculators don’t give homeowners the full picture — here’s what to use instead
Let’s face it: A little back-of-the-envelope math won’t cut it when you’re trying to buy a house.
Becoming a homeowner is a complicated process and a major financial commitment, and figuring out the true cost requires a good amount of research.
Many people will often turn to online mortgage calculators to determine what they can afford, but this tool comes with a few glaring limitations.
In fact, the Consumer Financial Protection Bureau (CFPB) outlines two major problems with many mortgage calculators: they only consider the principal and interest payment and they are only as accurate as the information you provide.
Your principal payment is how much you owe on your loan and the interest rate is the additional amount the lender charges you for borrowing money. Together, this is your mortgage payment — but it’s not the only monthly cost you’ll incur.
You need to factor in property taxes, private mortgage insurance (PMI), homeowners insurance, utilities, and homeowner’s association fees (if you expect to have them), to get an idea of what you’ll be paying each month. Many mortgage calculators either don’t estimate these costs accurately, relying on the user to enter the numbers themselves, or leave them out all together. There are also closing costs you’re required to pay upfront, which can be up to 5% of the home purchase price.
Online real estate resource Zillow Group is trying to fix that problem. Last month, it launched Realestate.com, a new site geared toward millennials looking for their first home. Their new all-in monthly pricing tool enables you to see every possible monthly expense — and a breakdown of closing costs — for each property listed on its site.
According to Zillow Group’s Consumer Trend Report, which was based off of a survey of a group of 13,000 homeowners, sellers, buyers, and renters, 39% of first-time homebuyers exceed their initial budget.
Jeremy Wacksman, CMO of Zillow Group, told Business Insider they created this tool to make budget a priority in the home-shopping process.
“We see nearly half of first-time homebuyers consider renting as well, so [this makes it so they’re] really thinking of them side by side,” Wacksman said. “As a renter, you’re usually thinking of one cost per month.”
One major advantage of the Realestate.com all-in monthly cost tool is that these estimates provide context to homes currently on the market. Rather than blindly looking at a listing price, an all-in monthly cost estimate gives a more accurate idea of affordability.
This doesn’t help you much if the home you’re looking to buy isn’t on Zillow, though you may be able to compare it to something similar in the area.
Also, keep in mind that interest rates are highly personal and depend on your credit history, type of loan, income, debt, and specific lender. This tool populates with a default 3.79% interest rate, based on a 30-year fixed mortgage with a 20% down payment. But you can use CFPB’s interest rate tool to input some of that information and get a more accurate rate to further customize your all-in monthly cost.
SEE ALSO: 21 of the most affordable zip codes to raise a family in the US
DON’T MISS: Everything you need to know about buying a home, in 7 steps
Join the conversation about this story »
NOW WATCH: 4 lottery winners who lost it all
June 04, 2017 at 07:11PM
from Tanza Loudenback
Monday, May 29, 2017
Looking for more applicants? Offer part-time (and WFH) options
http://ift.tt/eA8V8J
Having trouble filling a role? You might want to consider splitting it into two part-time jobs. Struggling job seekers will no doubt take umbrage to this bit of advice, but there are some numbers to back it up.
Workopolis’ data team recently analyzed over 450 thousand job descriptions, 150 million job searches, 49 million job views, and eight million job applications. What they found was that searches for part-time jobs has nearly tripled in the last three years, rising from 3 per cent in 2014 to 8.5 per cent in 2017.
In addition, based on resumes uploaded to Workopolis, the number of job seekers working more than one job has also tripled between 2000 and 2015, from 8 per cent to 24 per cent. These findings correlate with data from Statistics Canada, which show the number of people working over 50 hours per week, at more than one job, has increased by more than 10 per cent between 2011 to 2015. Teachers and registered nurses were the top two professions most likely holding more than one part-time job in the same field.
For more numbers, and an analysis of this trend, read the full article here: Looking for more applicants? Offer part-time (and WFH) options.
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May 29, 2017 at 07:11PM
from
Sunday, May 28, 2017
NO WAY! Take Em Down NOLA Wants To REMOVE – 12 New Orleans Monuments – 24 Street Names – 7 School Names – 2 Hospital Names
NO WAY Take Em Down NOLA Wants To REMOVE 12 New Orleans Monuments 24 Street Names 7 Schools 2 Hospitals Take Em Down NOLA Wants To REMOVE Andrew Jackson Statue From New Orleans Famous And…
May 28, 2017 at 07:09PM
from IWB
31 Fascinating Facts on the Early History of the U.S. Dollar
Monday, May 15, 2017
One of the rarest watches in the world just sold for $5 million and became the most expensive Rolex ever
An exceptionally rare and unique Rolex watch just became the most expensive ever sold.
Known as the “Bao Dai” watch, this piece was sold to the last emperor of the Nguyen dynasty in Vietnam in 1954.
It just sold for over $5 million at auction at Phillips in Geneva. The buyer has not been identified
The Bao Dai is a Rolex reference 6062 — the most expensive and rarest watch model the brand sold at the time it was made. The gold case and black dial were the rarest configuration of the 6062 model.
Only three models to this specification are known to have existed, according to Hodinkee. This particular model is the only one to have had diamond markers on the even hours, making it completely unique and unlike every other watch in the world.
It was sold by the Nguyen family for $235,000 in 2002, meaning that the watch has only changed hands once. Though that price may seem low compared to today’s standards, it was also the most expensive Rolex ever sold at the time.
While the watch’s auction estimate was only $1.5 million, collectors expected it to go for much more than that.
The Bao Dai handily beat the previous record holder, the Rolex split-seconds chronograph reference 4113, which sold for $2.5 million last year.
SEE ALSO: You can now bid on Rolex watches on ‘the stock market of things’
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NOW WATCH: These are the watches worn by some of the most powerful men in finance
May 15, 2017 at 07:11PM
from Dennis Green
Pioneer Sales Fall in North America
Pioneer announced a slide in both sales and profits for the full fiscal year 2017 ending March 31. Total sales fell 14 percent and sales for car electronics, specifically, declined 12.7 percent to $2.76 billion. Pioneer reported lower than expected profits in consumer sales of car audio. Pioneer said profits, “which had expected to be […]
The post Pioneer Sales Fall in North America appeared first on ceoutlook.com.
May 15, 2017 at 07:08PM
from Amy Gilroy
A major Tesla bull just downgraded the stock and shares are sliding (TSLA)
Shares of Tesla slid 3% on the markets’ open on Monday, to $314 after a Friday close at $324.
Morgan Stanley’s lead auto analyst Adam Jonas, a reliable Tesla bull, downgraded the stock from “overweight” to “equalweight” in a research note published Monday. He retained his target price at $305, however.
Jonas thinks that Tesla will struggle to deliver its Model 3 mass-market vehicle in 2017. The car is scheduled to launch in July, with a production ramp to follow.
Tesla expects to produce 5,000 Model 3’s per week by the end of 2017, with that pace rising to 10,000 at some point in 2018.
Jonas thinks that only 2,000 vehicles will be delivered in 2017, while Tesla will sell jut 90,000 in 2018, figures that the analyst considers to be below investor expectations.
The $35,000 Model 3 is a critically important car for Tesla, as it transitions from selling all-electric luxury vehicles to pushing toward annual deliveries of 1 million by 2020.
Longer term, Jonas argues that Tesla is on the verge of facing massive competition from Silicon Valley tech companies that are casting their eyes on the potentially lucrative transportation industry.
“We are intrigued by how many investors wes peak with view Tesla’s biggest competitive risk as coming from the existing auto industry,” he wrote.
“We do not see it that way. We believe Tesla’s most important competition will ultimately come from the world’s largest, best capitalized tech firms. Many of these firms (such as Alphabet, Apple and others) are already testing fully autonomous vehicle fleets on public roads.”
He added:
While shared autonomy may not be a winner-take-all game, we have an increasingly difficult time imagining Tesla as the dominant player and as a stand-alone company longer term. We wonder if the firm is better off finding a partner that can help fund the necessary up-front investment while extracting greater value from the data produced by its machine-learning ecosystem. These may seem like issues that may take a long time to answer. But we wouldn’t be surprised if some of the early clues are on display within the next year or so.
Jonas’ views are consistent with his rather far-reaching thesis that the old business model of building and selling cars — cars that remain idle most of the time for their owners — will be replaced by a miles-driven model that favors shared mobility, autonomous cars, and software.
SEE ALSO: Elon Musk has discovered a new passion in life — and it could be Tesla’s best product yet
Join the conversation about this story »
NOW WATCH: A Tesla bull makes his case: ‘We think it’s real …. it’s a good car. That’s not a fluke’
May 15, 2017 at 07:11PM
from Matthew DeBord
Inquest hears how car driven by father of two crossed lanes into path of oncoming lorry
A jury of six men returned a verdict of accidental death.
May 15, 2017 at 06:58PM
from
VAIS Intros Universal Add-On System for SiriusXM
VAIS Technology announces a new Universal (stock one) approach for adding integrated SiriusXM tuners to most vehicles. Its new GSR-UO1 interface can now work with over 75 car models and 14 car brands to add SiriusXM to cars that don’t come with the option. In the past, VAIS modules were only available for a few […]
The post VAIS Intros Universal Add-On System for SiriusXM appeared first on ceoutlook.com.
May 15, 2017 at 07:08PM
from Amy Gilroy
Stocks just did something they haven’t done since 1995
US stocks just made the most unremarkable type of history.
Friday marked the 13th straight day that the S&P 500 failed to move more than 0.5% in either direction on a closing basis, the longest such streak since 1995.
The day was just “another waste of carfare and a clean shirt,” Art Cashin, director of trading floor operations at UBS, wrote in a client note.
The stasis should be unsurprising for those watching the equity market over the past few weeks. In the absence of any major geopolitical shocks or economic surprises, investors haven’t seen much of a reason to get riled up.
Their complacency has manifested itself in muted price swings, with the CBOE Volatility Index, or VIX, a barometer of investor nervousness, close to the lowest on record. The so-called fear gauge slipped earlier this month to its lowest level since February 2007.
It’s possible investor concerns about the durability of the eight-year bull market has been assuaged by impressive S&P 500 earnings growth. Companies in the index are on pace to see 14% profit expansion for the period, the most since the third quarter of 2011, according to data compiled by Bloomberg.
Another potential explanation for the market malaise comes from the realm of technical analysis. On March 1, the S&P 500 came within one point of breaking 2,400 before bouncing off that key level of upward resistance. In the 2 1/2 months since then, the benchmark has twisted and turned in a tight range, testing 2,400 on multiple occasions but never closing above it.
Having closed last week at 2,390.90, the S&P 500 enters Monday once again searching for inspiration amid a light slate of economic data releases and as earnings season winds down.
SEE ALSO: There’s one big trading company that’s loving all this uncertainty
Join the conversation about this story »
NOW WATCH: Here’s the workout routine a retired US Navy admiral uses to stay in tip-top shape
May 15, 2017 at 07:11PM
from Joe Ciolli
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