The rule is part of a series of programs aimed to help the SBA achieve the goal that 5 percent of federal contracting dollars should go to women-owned small businesses. “Women-owned businesses are one of the fastest growing sectors of our nation’s economy, and even during the economic downturn of the last few years, have been one of the key job creation engines in communities across the country,” SBA Administrator Karen Mills said.

Try this:

1) List all the questions you would like to ask a financial professional.

2) Categorize them in terms of a) importance, and b) complexity. Sometimes really important questions are easy to answer. For example, if you have less than $5,000 and you want to allocate according to your timelines and tolerance for risk, than you might try going to Vanguard’s website to the section on Planning and Education. They have an investor questionnaire that More…helps individual investors allocate assets. It is easy to use and understand. If you contribute to Savings Plus Program through the State of California, you can use the dynamite asset allocation tool created by Ibbotson.

3) Answer the less important and simple questions yourself using credible online free resources offered by companies such as Fidelity Investments, Vanguard Group, Citizens Funds, WSJ, and many more.

4) Some questions are important and complex such as estate or tax planning. These questions are best answered by educated and trained professionals such as attorneys, accountants, and fee only advisors.

5) Be sure to seek answers and solutions to your most important issues. For example, if you have a blended family, with children or others who depend on your income, you may need to purchase life insurance after you prepare a will and before you open an IRA.

Now that you are organized, where do you begin to search for the right professional?

The answer is Ask Around

The residents of the subdivision enjoy a lifestyle of walking, running, cycling, and bird watching. The adorable and large pond is surrounded by homes, a park, grammer school, and walking/biking paths. The area is teaming with birds of prey, ducks, coots, herons, pelicans, and a variety of other birds. There is even a work-out path called “World Trail” that is enjoyed by young and old.

During the summer months the bike path is open which runs adjacent to the subdivision along the Santa Maria river levee. It is a great place to start your long ride that surely ends with a tasty barbeque. Be sure to take some of the fresh rosemary that lines the walking trail. I’ve included a recipe for Rosemary Potatoes below.

Contact Avalon Real Estate Management to learn more about the River Oaks Subdivision in Santa Maria.

Rosemary Potato Recipe

• Wash and dice several potatoes (Yukon or small Red)
• Place them in a baking pan or aluminum foil
• Drizzle them with olive oil
• Sprinkle with pepper and a pinch of salt
• Place three 6″ tender Rosemary branches (that have been thoroughly washed) on top of the potatoes
• Cover the baking pan (close the aluminum foil) and throw on the grill
• Bake until tender (20-30 minutes)

Many self-proclaimed experts cite Zillow, Inman News, and other Web based applications as Real Estate 2.0. Few real estate professionals are involved in, and knowledgeable of Web 2.0 technology to disagree with these short-sighted examples. Real Estate 2.0 is not limited to support services and does extend to real estate brokers and agents who are using the latest in technology to provide interactivity to their clients. For example, incorporating Twitter, Linked In, and Facebook provide the social networking. Forums allow for client interaction, and blogging provides a way to continually educate clients.

What is Required?

The technology to create a Real Estate 2.0 environment is not cheap. There are many applications that provide the functionality, but they require knowledge, skills, and abilities that most brokers and agents lack. Hiring a technologist to provide the functionality is definitely an option, but the price tags generally start at $8,000 and go into the $100,000s.

What is the Benefit of Real Estate 2.0 Websites?

The benefits for commercial brokers are many including offering owners and tenants with promotional Websites, a way to manage complex real estate projects, and a way to stay in touch with the market. More important, up-and-coming AND large purchasers of commercial properties need more than a way to contact their broker. They need a way to be involved in their property and a way to gain a competitive advantage.

My student indicated he would normally want a fixed rate except since he plans to flip the house, he decided he should get an adjustable rate mortgage (ARM). He came to me to make sure I agreed with his strategy. As you might expect, I did not agree with him. While I enjoy taking a fairly hefty amount of risk, I try to avoid unnecessary risk.

This particular student was arguing the week before that he is certain real estate prices were bound to drop. Consider his strategy and plan: 1) he buys a fixer at today’s prices and gets an ARM; 2) house prices fall and now he can’t sell the house and make a profit; 3) interest rates rise and now he is stuck with a dumpy house for which he overpaid and his monthly mortgage payment keeps rising.

So, when do ARMs make sense? When the risk of changing interest rates benefit YOU, not the lender.

Just as important, commissions introduce conflict of interest between the service provider and the client. Let me illustrate. A stockbroker once told me that variable annuities were the best investment anyone could make. Since I taught investments at a university, I knew scientific studies did not support his contention. When I asked him why he believed this to be true, he said it was because they paid the highest commission. It was obvious that he was pursuing his interests and not those of the client. Financial services should be delivered by hard working educated professionals who provide their service for a fee, not a commission.

Think of your local accountants. They charge you for the services they deliver. They don’t sell you products; they answer questions and perform tasks. One easy way to spot a salesperson is if they tell you that you don’t have to pay them. If you do not pay them who does and why would someone else pay your bill?

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Addendum

• We reserve the right to update and modify these rules as the needs of the community dictate to ensure the smooth operation of this community.

• Accountants = Four or six year degrees (Bachelors/Masters) in Accounting + CPA.
• Attorney = Four years degree + law degree + five years experience.
• Bookkeepers = Five years experience, especially working under a CPA.
• Financial Consultants (advisors and planners) = Four year degrees in Accounting or
• Finance + MBA/MS Finance or CFP + five years experience.
• Insurance Agent = Four or six year degrees (Bachelors/Masters) in Accounting, Economics, or Finance.
• Stockbrokers = Four year degrees in Accounting or Finance + MBA/MS Finance or CFP + ten years experience.

BUY: Books written by properly educated professionals described in the next post. Publications such as Wall Street Journal and Kiplinger. Books that you find at your local college bookstore. Reading material recommended for college courses in financial planning and investments. There are many great sites that help educate you such as:

Vanguard.com
Fidelity.com
Savings Plus Program (http://sppforu.nrsservicecenter.com/nrs/?Site=California)
www.Morningstar.com www.NASD.com

This is not the first time I’ve encountered this situation, which is one example of clouded title. Land Title Services defines “clouded title” as an irregularity, possible claim or encumbrance that, if valid, would adversely affect or impair the title.

This particular property owner wanted to develop the property and was hoping someone could offer a suggestion to remove the cloud on title. The suggestions include: make a public notice calling for an open claim, searching for persons believed to be deceased, and initiating court action to quiet title. One well-written comment offered what I believed to be good advice.

The writer suggested the property owner contact title insurers in his county. The writer seemed to believe that a title insurer will insure over such issues if you do have documentation that the note was paid, and even suggested Chicago Title does provide this type of coverage.

I consulted with a senior title officer and an advisory title officer with Chicago Title and learned that it would be highly unlikely that an insurer would insure over the deed of trust. However, the solution seemed to be simple. Lisa Linebarger, Advisory Title Officer at Chicago Title in Santa Rosa California suggested the property owner purchase a lost note bond from a surety brokerage firm such as Artisan Bonding & Insurance Services. The bond amount needs to be for 1 ½ times the original amount of the note and trust deed. When the bond is issued it will need to be recorded. The recorded bond and a certified copy of the deed of trust should be provided to the trustee along with your request for a full re-conveyance.