house: Fire Sprinklers Set to Become Standard in New Homes; Group Warns of Inferior Cabling - 11/13/09 10:05 AM
Members of the International Code Council's Residential Building Code Committee (RBCC) have made it clear that fire sprinklers are destined to become a standard feature in all new homes. The fire sprinkler requirement was added to the International Residential Code (IRC) last year, and it is scheduled to become effective January … (0 comments)
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house: Washington Report: Expansion of Tax Credit - 11/12/09 10:10 AM
Congress's extension and expansion of the $8,000 tax credit through next June 30 should take the pressure off first time home buyers who've been rushing to close deals before the November 30 deadline. That deadline is now gone. Everybody's got until next June 30 to settle on their purchases. But here's … (1 comments)
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house: 30-Year Fixed Rate Falls Below 5 Percent - 11/10/09 08:48 AM
McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.98 percent with an average 0.7 point for the week ending November 5, 2009, down from last week when it averaged 5.03 percent. Last year at … (4 comments)
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house: Non-Judicial States Let Mortgage Lenders Off The Hook - 11/09/09 11:27 AM
There is a lot of talk about foreclosures in the news today. One aspect of foreclosures that has received little attention is difference between a judicial state and a non-judicial state. A judicial state requires that a lender file a foreclosure action in the court system and get an order from … (0 comments)
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house: Tax break for buying a home - 11/06/09 08:39 AM
The legislation also would extend the $8,000 homebuyer tax credit to contracts signed by April 30 and closed by June 30. The controversial credit, which many say has boosted home sales in recent months, was set to expire after Nov. 30.
The Senate's bill also created a $6,500 credit for those … (0 comments)
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house: Real Estate Outlook: Case-Shiller Index - 11/04/09 10:16 AM
If you look at the latest Case-Shiller home price index numbers, which showed prices up in seventeen of the twenty markets it tracks and the fourth straight month of gains, you'd have to say: wow, how things have changed! Even the gloomiest of the major indexes is now documenting month after … (1 comments)
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house: Washington Report: Extending the Credit - 11/03/09 09:13 AM
Don't bet all your money on it quite yet, but it looks more and more likely that Congress will extend the housing tax credit beyond its scheduled termination date - and maybe even open it up to people who already own homes. Late last week a bipartisan plan emerged in the … (0 comments)
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house: Washington Report: Extending the Credit - 11/03/09 09:12 AM
Don't bet all your money on it quite yet, but it looks more and more likely that Congress will extend the housing tax credit beyond its scheduled termination date - and maybe even open it up to people who already own homes. Late last week a bipartisan plan emerged in the … (0 comments)
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house: Media Dropping Ball on Housing-Market Trends - 11/02/09 01:39 PM
I clicked a link to the Wall Street Journal's market data chart, called the Hagerty's Quarterly Housing Report and was really taken aback by what they are reporting in the Washington, D.C. area (my home base). Again, they have labeled our market as a "buyers" market and reported that more foreclosures … (0 comments)
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house: Ask the HOA Expert - 10/29/09 09:06 AM
Question: Our homeowner association has 30 single family detached homes. Our governing documents were basically written for townhomes. One of the bothersome issues is that the governing documents state that the HOA is responsible for replacing roofs, painting, gutters and other things that are commonly done with condominiums. Many owners object … (0 comments)
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house: Real Estate Outlook: Just Right Housing - 10/28/09 09:56 AM
You probably remember the line about porridge from Goldilocks: It wasn't too hot, it wasn't too cold, it was ... just right. Well, you could make that point about some of the latest housing and real estate numbers. Last week's new housing starts were reported by the media as further evidence … (0 comments)
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house: Time is Running Out for First-Time Home Buyer Tax Credit - 10/27/09 10:20 AM
The clock is ticking. Time is running out. To be exact, time runs out midnight, November 30, 2009. Many readers will know what I am referring to. Under the American Recovery and Reinvestment Act of 2009, November 30 is the last day for a home purchased by a first-time home buyer … (1 comments)
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house: Investor Report: Investment Buying Tips - 10/26/09 09:15 AM
Foreclosures and bank REOs are pulling a new wave of novice investors into the market, some of whom "are just plain clueless, to put it bluntly," says Robert Cain, a long-time rental market and real estate management specialist based near Tucson, Arizona."They see the price and they way, wow! I can … (0 comments)
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house: Is Your Home Wired Properly? - 10/23/09 09:19 AM
We all know that as things age, they often need replacing but sometimes homeowners neglect to take care of their home's electrical wiring and that can set them up for potential danger. Electrical consumption since the middle of the last century has increased in most homes on average about 400 percent.If … (2 comments)
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house: Sell Short, Get $1,500 in Closing Costs - 10/22/09 09:13 AM
The U.S. Treasury is poised to announce a finalized plan to expand mortgage relief efforts to include short sales. A short sale occurs when the bank allows the sale of a home for less than the existing mortgage balance. It's a strategy to avoid foreclosure, but banks have been more likely … (0 comments)
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house: Collecting HOA Delinquencies - 10/21/09 09:23 AM
There are few things more basic to a homeowners association than the fees it takes to keep the place running. When one or more owners default in the payment of fees, the impact is felt by all. And the longer the delinquency, the deeper the cut. It is a situation that … (0 comments)
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house: The Horror Story: Why Isn't Your Home Infested with Termites? - 10/20/09 10:37 AM
The sad truth is that your home might be infested with termites and it may be years before visible signs of damage alert you. Since these wood-eating social insects look like "white ants" to the untrained eye, termites have been confused with ants by those who do not understand the biology. … (1 comments)
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house: Home Foreclosures: When the Right Price is Not Correct - 10/19/09 10:02 AM
The San Diego housing market is once again hot! Selling quickly and at above listed prices are the bank-owned foreclosure properties, both detached homes and condominiums. Alan Greenspan's term "irrational exuberance" is once again characteristic of the San Diego home buyer's behavior. Any property description using "bank-owned," "lender repossession," "foreclosure sale," … (0 comments)
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house: 30-Year Fixed Rate Still Below 5 Percent for Third Consecutive Week - 10/16/09 09:00 AM
McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.92 percent with an average 0.7 point for the week ending October 15, 2009, up from last week when it averaged 4.87 percent. Last year at … (0 comments)
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house: Home Buyer Tax Credit Ends Sooner Than You Might Think - 10/15/09 08:59 AM
You have less time than you think to cash in on the federal home buyer tax credit. Unless legislation extends the deal, you'll have to close escrow by Nov. 30 to take advantage of the maximum $8,000 tax credit available for first time home buyers. But given the 30 to 45 … (0 comments)
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