100 Years

 

The year is 1907.

One hundred years ago.

What a difference a century makes!

 

Here are some of the U.S. Statistics for the Year 1907:

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The average life expectancy in the U.S. was 47 years old.

Only 14 percent of the homes in the U.S. had a bathtub.

Only 8 percent of the homes had a telephone.

A three-minute call from Denver to New York City cost eleven dollars.

There were only 8,000 cars in the U.S., and only 144 miles of paved roads.

The maximum speed limit in most cities was 10 mph.

Alabama, Mississippi, Iowa, and Tennessee were each more heavily populated than California.

With a mere 1.4 million people, California was only the 21st most populous state in the Union.

The tallest structure in the world was the Eiffel Tower!

The average wage in the U.S. was 22 cents per hour.

The average U.S. Worker made between $200 and $400  per year.

A competent accountant could expect to earn $2000 per year, a dentist made $2,500 per year, a veterinarian $1,500 per year,  and a mechanical engineer about $5,000 per year.

More than 95 percent of all births in the U.S. Took place at HOME.

Ninety percent of all U.S. Doctors had NO COLLEGE EDUCATION!  Instead, they attended so-called medical schools, many of which were condemned in the press AND the government as "substandard."

Sugar cost four cents a pound.

Eggs were fourteen cents a dozen.

Coffee was fifteen cents a pound.

Most women only washed their hair once a month, and used Borax or egg yolks for shampoo.

Canada passed a law that prohibited poor people from entering into their country for any reason.

Five leading causes of death in the U.S. Were:
1. Pneumonia and influenza
2. Tuberculosis
3. Diarrhea
4. Heart disease
5. Stroke

The American flag had 45 stars - Arizona, Oklahoma, New Mexico, Hawaii, and Alaska hadn't been admitted to the Union yet.

The population of Las Vegas, Nevada, was only 30!!!!

Crossword puzzles, canned beer, and ice tea hadn't been invented yet.

There was no Mother's Day or Father's Day.

Two out of every 10 U.S. Adults couldn't read or write.

Only 6 percent of all Americans had graduated from high school.

Marijuana, heroin, and morphine were all available over the counter at the local corner drugstores.  Back then pharmacists said, "Heroin clears the complexion, gives buoyancy to the mind, regulates the stomach and bowels, and is, in fact, a perfect guardian of health." 

There were about 230 reported Murders in the ENTIRE  U.S.A.!!!

Just Try to imagine…..

What it may be like …. 

 

In another 100 years !!!!!!!

IT STAGGERS THE MIND!!

 

 

House Hunting Strategies

 

There are many factors to consider when looking to purchase a home - from what neighborhood to which floor plan and much more.  Let's review 4 things you should keep in mind when looking for a home.

 

1. Location, location, location.

A house needs to be near what's important to you and your lifestyle. How important is it to you that your home is close to your office? Is it more important to you that you're close to a good medical center or a convenient grocery store?

 

2. The house.

Does the floor plan meet your needs? Does it have enough room for your family to grow if future growth is in your plans? Think of buying for the long term and consider whether the house meets your needs, not just now, but any future needs you can anticipate. And don't discount your gut feeling. If this home doesn't feel like home to you, then move on.

 

3. Affordability. 

Getting pre-qualified for a mortgage before you begin visiting homes is the best way to know what you can afford.  Often people fall into the trap of looking first, and falling in love with a home that's well out of their price range.  Only look in whatever price range you can pre-qualify for.

 

4. Resale. 

As much as you like the idea of seeing you and your family growing old and gray in your new home, chances are you won't.  Most people don't live in their house even for the full term of their mortgage.  When home shopping, keep in mind that at some point you will probably want to put your home on the market, so don't compromise.  If you decide a house has some aspect that you can overlook, you need to be aware that someone else may not feel the same way.  When home shopping, choose a house that is not only appealing to you, but is also likely going to appeal to others down the road.
 

Lower Home Sales and Prices Predicted

 

A real estate industry trade group said recently it expects sales of existing homes to drop 4.6% this year to 6.2 million.  Two months ago, the group had predicted a 2.2% decline for the year.

 

The National Association of Realtors (NAR) is now forecasting sales of new homes to drop 18.2% to 860,000 compared with an earlier estimate of a 14.2% decline.

 

The NAR also predicts the median price of existing homes, which make up about 85% of the market, will fall in 2007 for the first time since the 1960s, when the group began keeping records.

 

The predicted decline comes after a 1% gain in home prices last year and an increase of more than 12% in 2005.  Next year, though, the NAR expected the market to rebound, and existing home prices are forecast to rise 1.7%.

 

What a lot of home buyers don't realize is… NOW is the best time in years to find a home.   When the real estate market is red hot and all these figures are reversed, it's not the best time to be buying real estate.   So if you've been putting off buying a new home because of all the negative news lately.. think again.  NOW is the time to start your search before the market turns around.

 

 

Making Room for Parents

 

The emotional and financial advantages of opening your home to a parent can be great. You won't have to stress about whether they are taking proper care of themselves - you'll be able to see for yourself and help as needed. And if your mom or dad becomes frail or chronically ill, neither one of you will have to pay the $30,000 or so a year that the average assisted-living facility costs.

 

The preparation steps range from minor remodeling projects (such as installing handrails or brighter lighting) to major renovations (like building a separate apartment), with costs from a few hundred dollars to much more than a hundred thousand.

 

If done right, these changes can even help, or at least not harm, your home's value. And there's a bonus: You'll end up with a space that not only is comfortable for your mom or dad now but may also make it possible for you to continue living independently in your home as you age.

 

First, figure out what you'll need.  Then, decide how you'll pay for the renovation.  If the renovation costs seem shocking, bear in mind that there may be resources available to help you pay.  You may be able to use the proceeds from the sale of your parents' current home to finance a remodel.  Whatever you do, don't use the funds from your retirement stash.  Take care of your own finances first, so your kids won't be picking up the tab for you someday.

 

Put a premium on safety. Falls are the No. 1 cause of injury among the elderly, and most of them occur in the bathroom.  The best solution is to spend $50 to $300 to install grab bars in the bath and shower.  Check that the label says they meet the Americans with Disabilities Act guidelines for safety.

 

Use adhesive safety strips on the bottom of the tub or shower floor instead of plastic mats, which can slide easily, and use nylon mats with nonskid backing on the floors.

 

Poorly lit hallways are another danger area, so spend $250 to have an electrician install a light at each end of any hallway that runs 15 feet or more. You'll also want to get rid of throw rugs and replace plush wall-to-wall carpeting, which can become a tripping hazard, with flat and tightly woven material.

 

Eliminate entryway barriers.  At the very least, you'll need to get rid of steps and curbs that can be especially troublesome in winter weather.  You'll pay $1,500 each to make doorways wide enough to fit a wheelchair or walker.  Look into installing doors with swing-clear hinges, which cost about $75 and can add an extra inch or two of space.

 

Consider the comfort factor.  Under-the-cabinet kitchen lighting is a godsend for aging eyes.  Custom jobs can run in the hundreds, but stick-on lamps that plug into an outlet sell for as little as $50.

 

You can install lever door handles, which are easier for arthritis-riddled hands to use than traditional doorknobs, for about $20 to $30 each.  In the end, knowing your parent is safe under your roof can be worth the extra cost and aggravation of revamping your home.

 

 

Interest Only Loans - Can You Afford Them?

 

Interest-only and deferred-interest mortgages are gaining increasing popularity, as homeowners like the idea of having the freedom to decide how much to pay against their mortgage each month. Interest-only loans offer you the option to pay only the monthly interest, or you can pay the monthly interest and as much of the principal as you'd like. Deferred-interest mortgages give you even more choices. In addition to the payment options of an interest-only mortgage, a deferred-interest loan also allows you to pay just a portion of the interest payment each month (the unpaid interest would then be added to your principal loan balance).

 

To help you decide how much home you can afford, it's smart to think in terms of an interest plus principal payment each month. If you can only afford the minimum payment on your mortgage, you may be overextending yourself. Having a choice to pay only the minimum is quite different than only being able to afford the minimum.

 

Is an interest-only or deferred-payment mortgage right for you? If any of the following situations apply to you, these loans may be just what you've been waiting for:

• If you need cash flow and have a low interest rate, paying interest only is the same as borrowing money at a great rate.
• If you're paid on commission or depend on tips, and your income fluctuates month-to-month, interest-only or deferred-interest payments are great. When commissions are down, make the minimum payment. When you have an excellent month, pay the full payment or more.
• If you invest the money you don't put toward your mortgage in something with a higher rate of return. For example, if you pay 6.5 percent on your mortgage but find an opportunity to make an investment that returns 9 percent, you will make 2.5 percent on your money that you wouldn't make if you had paid your full principal plus interest.
• You have higher interest debt to pay off. Again, if you have credit card debt at 15 percent, it makes dollars and sense to pay that before mortgage interest debt at 6.5 percent.
• If you expect to be in your home for less than 10 years.
• If you live in an area with appreciating home values. Regardless of what you've heard, most of the country is still appreciating in value. In those areas, even if you pay mostly just interest on your home, you're likely gaining equity in your home. In some cases, you can gain equity even with deferred-interest minimum payments.

 

Make sure your mortgage professional goes over all the numbers and fully explains the payment scenarios. Don't assume anything.  Get real numbers and you'll make the best decision.