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The 10 reasons why you should get renters insurance

by Kijner & Sons International Realty


 

While many tenants are busy figuring out which neighborhood to live in, the perfect school to enroll their children into, the right building amenities, and the best furniture to decorate their newly rented apartment or condo in the city, they often forget to protect themselves against rental incidents such as fires and burglaries.


A responsible and careful person should take into consideration that a number of unexpected life circumstances, accidents or potentially financially grave scenarios could occur.

KSI Realty New York Inc. highly recommends its tenants to consider speaking with a licensed insurance broker to learn more about the different policies that exist to protect them, their family and their belongings.

Here is a list of 10 reasons why you should get Renter’s Insurance:

1. Protect your wardrobe inclusive of any mishaps at the dry cleaner.

2. You accidentally run someone over while jogging, bicycling or roller blading and get sued.

3. The airline, train or bus company misplaced or lost your luggage and you may be eligible for compensation or emergency money. 

4. Frozen pipes that exploded during the winter and submerged your apartment or those of the person below.

5. You got burglarized at your home or while on vacation – you will be reimbursed up to a set limit for your laptop, jewelry and personal belongings (make sure to scan and store on cloud your receipts).

6. Your strollers, bicycle or grocery carts got stolen in front of your unit or your new TV/appliances fried due to a power surge.

7. Water incidents resulting from overflown dishwashers, bathtubs or clogged toilets will have you covered as well as your downstairs neighbors.

8. Too many appliances are plugged into an outlet and your breaker cannot prevent a fire, which rapidly spreads to your neighbors – you are covered. 

9. While your apartment is condemned due to fire, flood or total destruction; you are put at a hotel up to a certain limit while you search a new place to relocate.

10. Legal hotline and professional guidance in the event of an incident.

To recap, a few hundred dollars a year (usually a few extra dozen of dollars a month) can very well turn out to be the life saver that you have been looking for all this time.

Make sure to visit our Ancillary Network page and contact one of our select partners who will be happy to assist you with your Renter’s Insurance and other Insurance needs in New York!

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Source: blog repost from our New York site http://www.nyc2buy.com/blog/the-10-reasons-why-you-should-get-renters-insurance

REALTORS® Confidence Index

by Kijner & Sons International Realty


Kijner & Sons International Realty
is pleased to present you the REALTORS® Confidence Index based on data gathered from the 1st to the 8th of November 2013. The data reflect transaction activities in October 2013 and how Realtors® foresee housing demands in the coming months based on fiscal and monetary policies but also flood and homeowner insurance rates. 

According to the National Association of Realtors® (NAR), "[t]he REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. In addition, the "Questions of the Month," feature results of a timely aspect of the housing market."

To download the full NAR Report, please click here or on the image below



Flood Insurance Premiums for Homeowners

by Kijner & Sons International Realty

As Florida residents are getting ready for the 2012 Hurricane Season, Kijner & Sons International Realty would like to share some valuable information with you about Flood Insurance Premiums available to residential homeowners.

A flood insurance policy covers physical damage to your property (i.e.: the insured building and its foundation, detached garages, electronic appliances, permanent installed fixtures, etc...) as well as personal belongings (i.e.: clothings, valuables, furniture, electronic equipments, etc...). However, some things are not covered in the policy and it is your job to find out if you are well protected. Wether you own a house or a condo, wether your property is located in a moderate-to-low risk flood area or in a high-risk flood area and whether you live in Miami or Sarasota, they are several coverage options to choose from with the help of your insurance agent. 

You also need to know that premiums are calculated based on factors such as:

  • Year of building construction
  • Building occupancy
  • Number of floors
  • The location of its contents
  • Its flood risk (i.e. its flood zone)
  • The location of the lowest floor in relation to the elevation requirement on the flood map (in newer buildings only)
  • The deductible you choose and the amount of building and contents coverage

In a moderate-to-low risk area, most homeowners are eligible for coverage at a preferred rate with the "Preferred Risk Policy Premiums" being the lowest premiums available. In a high-risk area, a standard-rated policy is the only option offering separate buildings and contents coverage. 

To learn more about Flood Insurance Premiums available to homeowners but also renters and business owners, KSI Realty advises you to visit the official site of the National Flood Insurance Program (NFIP) to protect yourself and your property from floods associated with hurricanes, tropical storms or heavy rains. 

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Source:
FloodSmart.gov (The official site of the National Flood Insurance Program) - Residential Coverage for Homeowners

10 Questions to Ask Your Lender

by Kijner & Sons International Realty

Kijner & Sons International Realty gives you the 10 questions you should be asking your lender when looking to buy a home either in Miami or Saraosta Florida.

1. What are the most popular mortgages you offer? Why are they so popular?

2. Which type of mortgage plan do you think would be best for me? Why?

3. Are your rates, terms, fees, and closing costs negotiable?

4. Will I have to buy private mortgage insurance? If so, how much will it cost, and how long will it be required? (NOTE: Private mortgage insurance is usually required if your down payment is less than 20 percent. However, most lenders will let you discontinue PMI when you’ve acquired a certain amount of equity by paying down the loan.)

5. Who will service the loan — your bank or another company?

6. What escrow requirements do you have?

7. How long will this loan be in a lock-in period (in other words, the time that the quoted interest rate will be honored)? Will I be able to obtain a lower rate if it drops during this period?

8. How long will the loan approval process take?

9. How long will it take to close the loan?

10. Are there any charges or penalties for prepaying the loan?

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Sources:

The National Association of Realtors® (NAR)
Used with permission from Real Estate Checklists & Systems, www.realestatechecklists.com

How Big of a Mortgage Can I Afford?

by Kijner & Sons International Realty

Not only does owning a home in Sarasota or Miami, Florida give you a haven for yourself and your family, it also makes great financial sense because of the tax benefits — which you can’t take advantage of when paying rent.

The following calculation assumes a 28 percent income tax bracket. If your bracket is higher, your savings will be, too. Based on your current rent, use this calculation to figure out how much mortgage you can afford.

Rent: _________________________

Multiplier: x 1.32

Mortgage payment: _________________________

Because of tax deductions, you can make a mortgage payment — including taxes and insurance — that is approximately one-third larger than your current rent payment and end up with the same amount of income.

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Source:

For more help, use Fannie Mae’s online mortgage calculators

The National Association of Realtors® (NAR)

7 Reasons to Own Your Home

by Kijner & Sons International Realty

Kijner & Sons International Realty is pleased to give you the 7 reasons why to own your home in Sarasota or Miami, Florida

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.

2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the National Association of Realtors®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.

3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.

5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.

6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.

7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

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Online resources: To calculate whether buying is the best financial option for you, use the “Buy vs. Rent” calculator at www.GinnieMae.gov
Source: The National Association of Realtors® (
NAR)

5 Things to Know About Title Insurance

by Kijner & Sons International Realty

Title insurance protects the holder from any losses sustained from defects in the title. It’s required by most mortgage lenders. Kijner & Sons International Realty is pleased to share with you five other things you should know about title insurance.

1. It protects your ownership right to your home, both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as mistake in the spelling of a person’s name or an inaccurate description of the property.

2. It’s a one-time cost usually based on the price of the property.

3. It’s usually paid for by the sellers, although this can vary depending on your state and local customs.

4. There are both lender title policies, which protect the lender, and owner title policies, which protect you. The lender will probably require a lender policy.

5. Discounts on premiums are sometimes available if the home has been bought within only a few years since not as much work is required to check the title. Ask the title company if this discount is available.

If you are looking to purchase a property in Sarasota or Miami Florida, do not hesitate to contact us. You can also register to our free email alerts and receive, at your convenience, a list of properties available in the Sarasota or Miami Florida areas. To do so, just click on the desired link.

> For French, click here 
> For English, click
here and for short sales and foreclosures, click here

Displaying blog entries 1-7 of 7

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Kijner & Sons International Realty
83-85 Boulevard de Charonne, 75011 Paris, France


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