Today I bring a new post with the best 1-year CD rates that I can find.
The FDIC has closed 38 banks thus far in 2010. They are on pace to close even more this year than last year. 200 to 500 of banks are in a very weak state and most of those will not be able to make a come back. Still looming residential losses plus impending commercial losses will just break the camels back.
When considering one year CD yields you want your bank to last. So check for the health of the financial institution.
Nevertheless here are some jumbo CD rates I found.
It seems that NCUA insured credit unions are leading the pack.
Alliant Credit Union has a 2.10% APY for a one year Certificate of Deposit. The rate is actually good from 1-year to 23-months. Interest is paid at maturity only. 5-star Rating.
Melrose Credit Union out of New York has a 2.07% rate.
Amazingly, I found a bank with a 2.00%. Most banks are in the 1.50% range because of the FDIC National rate cap. Check out First City Bank. 2.00% APY. They can be reached at 888-244-5151. Of course there are a couple of caveats. It is a 15-month CD which is what gets them around the FDIC cap. They have a 0-Star rating. And to make it worse, they are located in Florida. But they are FDIC insured.
Franklin Synergy Bank has a 1.95%, also for 15-mos. They are out of Franklin, TN. They have a 2-star rating.
Use the FDIC or NCUA website to do your own health check. Take a look at the various ratios. Look for a equity ratio above 7%, a total risk based capital above 10% (only applicable to banks), and if the institution has a loss, make sure it is only about 25% of the capital when you adjust for yearly earnings. These are just suggestions. The web also offers some free bank and credit unionrating tools. One is found at bankrate[dot]com.
Good real estate marketing is the lifeblood of this business so any new real estate investor has to learn to love it because the most successful real estate investors put the most time in marketing the properties they have invested in.
Distressed homes and foreclosed homes can be excellent investments only if you approach the situation carefully and wisely, because bank foreclosure homes, including distressed homes, are considered to be the most sought after by experienced investors.
More than likely the previous owners of the property have been making payments on it for some time, bringing down the amount the bank was owed and increasing the equity in the property.
Real estate in general will again become a sellers market in which there are more people looking to buy homes than people willing to sell them, but this will probably not occur for at least another few years.
If you are handy, and know a little bit about the building game, you can save thousands of dollars by doing labor-intensive jobs such as painting, wallpapering and landscaping.
When going into the real estate investment game, you may consider flipping some properties and holding others, depending on your cash on hand and the condition of the property.
An Amtrak vacation is something you might consider for your next vacation, particularly if that is something you’ve never tried before. The national train network makes it possible to get around from most major cities. Getting there can be half the fun on some of the more scenic routes.
One of the most popular vacation destinations is San Diego. The train runs right into the middle of town, with easy local public transportation to get you to your hotel and most of the attractions. San Diego is spread out over a smaller geographical area than other parts of SoCal, notably Los Angeles. You can even get around to a lot of vacation attractions by walking if you enjoy that.
There is no shortage of fun places of interest in San Diego. You could really spend weeks at all the museums, historical places of interest, beaches, theme parks and other attractions. There certainly would be no problem filling a busy week of vacation in this beach-oriented city. One of the major features that San Diego offers its guests and residents alike is its wonderful, moderate weather, especially in the summertime.
Continuing your train travel up the West Coast past Los Angeles would be an option if you would like to plan an even more substantial trip. AmTrak runs from the downtown San Diego station to downtown Los Angeles Union Station with a few stops in between. This would make it possible to spend an easy week or two in Southern California without your car.
Of course, traveling by train could add 3-4 days to the overall vacation schedule but that could be part of the charm if you have the right attitude.