Gold prices have gone up recently; a lot of people are asking themselves and the experts if they should invest all their portfolios in this highly prized precious metal. Well, the consumer advocate with the nationally syndicated talk show Clark Howard doesn’t think it. “Five to 10 percent of your overall portfolio in gold or other precious metals is acceptable. But no more” he advised it in his today’s show notes.
He goes on to explain that there is fine line in being an investor and being a speculator. Gold is priced now at $1,100 an ounce; this is far from where gold price used to be in the early 2000s. Whoever invested their money during those early years are now reaping the benefits, and they sure look like wealthy geniuses.
Here is the problem with gold now, as most people don’t get in until it’s too late and there’s already huge run up.
It is tempting nowadays given the huge ads that show up in TV commercials, most of them telling you “now is the time to buy gold”, they also emphasize that gold protects you against the inflation or that it will never be worthless. It may be true that Gold will never be worthless, just remember it is still subject to supply and demand laws.
Most of the hype about investing and buying Gold is being driven by brokers and dealers that want to encourage you to buy it now, thus adding momentum to rising price of Gold to try and keep increasing it. After all, Dealers and brokers get commission. You on the other hand, will get a very expensive ticket to the casino that is the commodities market.
Many experts think that now is a great time to sell scrap gold, instead of buying Gold or investing in it why don’t you take advantage of the hype and sell all your scrap jewelry, since this is the latest craze you probably have it somewhere some jewelry that you don’t even use or wear it.
Now it will be good time to recycle your old and unused jewelry and pick couple of hundreds of dollars from something you don’t wear. Interestingly just because gold is risky investment now doesn’t mean you should not pick up some extra money from something you may never wear again.
Showing posts with label financial. Show all posts
Showing posts with label financial. Show all posts
Sunday, July 18, 2010
Saturday, July 17, 2010
Home sales in Dane county went up 14% in June
Home sales in Dane county went up 14% in June compared to a year ago, the Wisconsin state journal reported today. The increase is due to the expired federal government’s home buyer tax credit which expired for new contracts on April 30.
The MLS reports that 805 house and condominium sales for Dane county in June up 14% from 711 in June 2009, the median home sales price in the county was up 3% from last year, at 207,000 compared to 201,000 in 2009. At the same time year to date home prices went down by 1% compared to last year’s.
Condo sales went up 28% while house sales went up 9.2% in June, the MLS predicts that sales will be lower in the coming months of July and August, as the sales that took place in May and June will close down, many buyers have chosen to close earlier than they wanted, to take advantage of the Tax credit. This is great news for the city of Madison and the county as they both stand a chance to see their tax revenues go up.
Local agents have noticed that there is a drop in home buyers activities “showing activity and web activity are lower now” said agent Dan Miller of Keller Williams Realty, other counties in Wisconsin have had mixed results, as some counties have seen increased home sales and while other counties did not.
The home buyer tax credit helped push the increase even though it expired April, homebuyers had until June 30 to close the sale. “There is no question, the tax credit has had a significant impact on this market” said Re/Max CEO Margaret Kelly, “no one can predict the future and we may still see a slight pull pack, but for now it appears that housing is holding on its own, hopefully on the road to recovery”.
The house and the senate passed separate bills in late June to extend the June 30 deadline until September 30, due to backlogs in mortgage applications, the National Association of Realtors (NAR) says that as many as 180,000 buyers who signed valid contracts by April 30 may not be able to close by June 30, because their lenders are unable to process the loans on time.
The Washington post reports that the bill sponsors are hoping to attach the measure to a separate measure that would extend other tax breaks and the emergency unemployment funds, at this time it is not clear if the new extension will be passed, in order for home buyers that were unable to take advantage of the June 30 deadline get one more extension.
The MLS reports that 805 house and condominium sales for Dane county in June up 14% from 711 in June 2009, the median home sales price in the county was up 3% from last year, at 207,000 compared to 201,000 in 2009. At the same time year to date home prices went down by 1% compared to last year’s.
Condo sales went up 28% while house sales went up 9.2% in June, the MLS predicts that sales will be lower in the coming months of July and August, as the sales that took place in May and June will close down, many buyers have chosen to close earlier than they wanted, to take advantage of the Tax credit. This is great news for the city of Madison and the county as they both stand a chance to see their tax revenues go up.
Local agents have noticed that there is a drop in home buyers activities “showing activity and web activity are lower now” said agent Dan Miller of Keller Williams Realty, other counties in Wisconsin have had mixed results, as some counties have seen increased home sales and while other counties did not.
The home buyer tax credit helped push the increase even though it expired April, homebuyers had until June 30 to close the sale. “There is no question, the tax credit has had a significant impact on this market” said Re/Max CEO Margaret Kelly, “no one can predict the future and we may still see a slight pull pack, but for now it appears that housing is holding on its own, hopefully on the road to recovery”.
The house and the senate passed separate bills in late June to extend the June 30 deadline until September 30, due to backlogs in mortgage applications, the National Association of Realtors (NAR) says that as many as 180,000 buyers who signed valid contracts by April 30 may not be able to close by June 30, because their lenders are unable to process the loans on time.
The Washington post reports that the bill sponsors are hoping to attach the measure to a separate measure that would extend other tax breaks and the emergency unemployment funds, at this time it is not clear if the new extension will be passed, in order for home buyers that were unable to take advantage of the June 30 deadline get one more extension.
Thursday, July 15, 2010
Tips on how to avoid overdraft fees in your bank
The way the economy is going nowadays you are more likely to incur overdraft fees in your bank account; to some people it is clear when your hours at the work place are being cut and expenses pile on, you are more likely not to check your bank account balance. As per the FDIC report it is a $2 billion business annually for the banks.
Your bank probably enrolled you an overdraft protection plan (without your knowledge) that covers check, ATM, and debit card transactions that exceed your balance. Here is the catch, whenever you exceed your balance you will incur at least $30 fee for exceeding your balance, you could get charged such fees if you buy a $1.60 cup of coffee, and there will be a nasty surprise waiting for you when you check your balance.
In August 15 2010 is the last day that banks can charge you overdraft fees without your permission and that is if you have had an account with them before July 1st. That is why you are seeing banks sending you mail, emails to get you to opt in (agree to get charged), according to the consumer reports blog the emails say “It only takes a moment to stay protected” or “We know our customers don’t need the hassle and potential embarrassment of having a debit card purchase or ATM withdrawal denied due to insufficient fund”.
Experts think that consumers need not to opt in for such exorbitant charges, as a consumer you can try other ways that are cheaper for you to avoid getting hit, here are some tips on how to avoid overdraft fees:
1. Balance your checkbook. Use the old ways of balancing your check book, some banks offer online calculators and free ways to reconcile your bank account. Make sure that you don’t rely on available balance when you check your balance at the ATM, there could be other charges that are on the way as banks update their systems after hours.
2. Link your credit card to your checking account. Most of the banks offer this service which will help you not to incur fees if you exceed your checking account balance, the extra amount will be charged to your credit card account.
3. Sign up for online banking and set up low balance alert. If you set up a low balance alert it will send you an alert that you have a low balance (depending on how much you set it to), you could use this alert with your cell phone as most of the cell phones are used for text messages.
4. Apply overdraft protection program, some banks and credit unions offer this service where you will be charged a finance charge, this is only possible if your credit standing is excellent.
5. Opt out overdraft fees completely; it could be the best way for you since you don’t need to spend what you don’t have, when your card declines you may have averted a $30 charge that you don’t even have at that moment.
Your bank probably enrolled you an overdraft protection plan (without your knowledge) that covers check, ATM, and debit card transactions that exceed your balance. Here is the catch, whenever you exceed your balance you will incur at least $30 fee for exceeding your balance, you could get charged such fees if you buy a $1.60 cup of coffee, and there will be a nasty surprise waiting for you when you check your balance.
In August 15 2010 is the last day that banks can charge you overdraft fees without your permission and that is if you have had an account with them before July 1st. That is why you are seeing banks sending you mail, emails to get you to opt in (agree to get charged), according to the consumer reports blog the emails say “It only takes a moment to stay protected” or “We know our customers don’t need the hassle and potential embarrassment of having a debit card purchase or ATM withdrawal denied due to insufficient fund”.
Experts think that consumers need not to opt in for such exorbitant charges, as a consumer you can try other ways that are cheaper for you to avoid getting hit, here are some tips on how to avoid overdraft fees:
1. Balance your checkbook. Use the old ways of balancing your check book, some banks offer online calculators and free ways to reconcile your bank account. Make sure that you don’t rely on available balance when you check your balance at the ATM, there could be other charges that are on the way as banks update their systems after hours.
2. Link your credit card to your checking account. Most of the banks offer this service which will help you not to incur fees if you exceed your checking account balance, the extra amount will be charged to your credit card account.
3. Sign up for online banking and set up low balance alert. If you set up a low balance alert it will send you an alert that you have a low balance (depending on how much you set it to), you could use this alert with your cell phone as most of the cell phones are used for text messages.
4. Apply overdraft protection program, some banks and credit unions offer this service where you will be charged a finance charge, this is only possible if your credit standing is excellent.
5. Opt out overdraft fees completely; it could be the best way for you since you don’t need to spend what you don’t have, when your card declines you may have averted a $30 charge that you don’t even have at that moment.
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