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real estate: The Fed's Role in Crisis and Recovery - 08/19/10 12:06 AM
Despite its apolitical mandate, the Federal Reserve remains one of the most politically sensitive institutions in the world, as evidenced by Fed Chairman Ben Bernanke's opinion column on November 29th. In the piece, Bernanke criticized proposed legislation before the Senate that would seek to curtail powers given to the Fed over its near-century of existence. With approval of the Consumer Financial Protection Agency comes a new regulatory regime that may also threaten the dominant paradigm, changing the way business at the top is done for decades to come. What will the Federal Reserve's role be in this new financial landscape, and … (0 comments)

real estate: Mortgage Rates Hit A New All Time Low (For the Fourth Time This Month) - 08/19/10 12:02 AM
The 30 year rate fell from 4.49 to 4.44 this week. This is the 4th week in a row where rates have fallen. What's interesting is not only is 4.44 an all time low. But we have been hitting new all time lows for the last 4 weeks in a row. What is even more interesting is no one cares. The market is hardly reacting to bizarrely low interest rates. It's also gotten very little play in the press which might be a contributing factor.

The 15 year dropped from 3.95 to 3.92. The 5 and 1 year arms dropped … (1 comments)

real estate: Dove Springs-A Quaint, Family-Oriented Community - 08/18/10 11:59 PM
A quaint, tree-lined rural community exists in Southeast Austin called Dove Springs, and it has a unique charm and many opportunities for recreation, housing, entertainment and access to the central city area. Dove Springs can be found by exiting I.H. 35 and traveling east on Stassney, among other routes, and the neighborhood's proximity to the freeway is another advantage to residents.

Most of the street names include the word Dove, such as Dove Meadow, Dove Hill, Dove Wood and others. These streets are tree-lined, quiet, meandering, residential streets, with inexpensive to moderately priced homes and duplexes, as well as numerous … (0 comments)

real estate: Find a Good Deal on an East Coast Vacation Home - 08/07/10 12:01 AM
Whether you're looking for a condominium, multi-family unit or a single-family home, you'll find an abundance available in the housing market in almost every major city in the U.S.

Florida's slumping home market has targeted this state for some sweet deals on real estate. You'll even find beach front property at astounding prices. Check out Cutler Bay, Fisher Island or Homestead, all in Miami-Dade County.

Nassau County has some great offerings, too, on Amelia Island. Right now you can get a beautiful condominium on Sea Marsh Road right next to Oak Marsh Golf Course listed at $100,000. It's … (2 comments)

real estate: How to Become a Famous Real Estate Agent - 07/18/10 01:48 AM
So, you have taken the classes and you have now become a real estate agent. Or, you already are a real estate agent. Now that you are, or already are, a real estate agent, how do you become a famous real estate agent?

Before getting into the specifics of becoming famous, you need to sit back, kick up your feet and decide on your niche. Your niche will be the springboard from which you launch your campaign to become famous. Is the luxury market your thing, or maybe being a buyer's agent is more your cup-of-tea. You need to decide … (6 comments)

real estate: Interested in a Condominium? Get a FHA-Insured Loan - 07/18/10 01:44 AM
Mortgage Insurance for Condominium Units (Section 234(c)) program assists potential homeowners in purchasing a home in a condominium development. The prospective condominium must be the potential homeowner's primary residence.

The intent of this federal program managed under the U.S. Department of Housing and Urban Development (HUD) is to insure the loan of a borrower who buys a unit in a condominium property. HUD does not directly provide loans to borrowers. Instead, HUD insures loans through FHA-approved lenders. Some of those who take advantage of the program are low- to moderate-income renters who want to buy their unit in order to … (1 comments)

real estate: Advantages and Disadvantages of Reverse Mortgages - 07/06/10 01:58 AM
Reverse mortgages are a relatively recent product on the lending scene. The approval process is somewhat abbreviated compared to a traditional home loan, but there are some conditions and requirements that make a reverse mortgage unique to other home loans.

What Is a Reverse Mortgage?

It is a home loan that enables the homeowner access to the equity built up in the home. Some borrowers prefer a lump sum when taking out a reverse mortgage. Others choose to receive monthly payments. No payment is required on the reverse mortgage until the homeowner dies, sells the home or vacates the … (3 comments)

real estate: Recipe for a Successful Real Estate Investment - 07/06/10 01:53 AM
There are a few wants that home buyers perceive as needs when shopping around for a home. As you're shopping for your next home, you may not have any idea how long you will live there as you may need to sell at some point. With that in mind, consider some practical features potential home buyers look for when buying their next home. That way yours will be positioned for quick sale if or when you decide to put it on the market in the future.

Basic Functions

When you bought your first home, things like central air, a … (1 comments)

real estate: Newlyweds -- Merge Mortgage With Refi - 06/27/10 03:28 AM
Couples who decide to get married have many decisions ahead of them as to how they will live their lives after they are married. Merging finances is typically one of the first things worked out. If both own homes, that issue should fall at the top of the list. One decision might be to keep both homes - live in one and rent the other out, and then do a mortgage refinance on both. Another might to sell one, live in the other and do a mortgage refinance.

How to Determine Which House to Sell

There are several … (0 comments)

real estate: Community Reinvestment Act - Impact to Housing Loans - 06/06/10 05:04 AM
Many of those in the media feel that the Community Reinvestment Act (CRA) is the culprit for the recent real estate market bust. Politicians have even echoed this sentiment from the Congressional podium. What is the Community Reinvestment Act, though, and did it actually contribute to or cause the U.S. housing market demise?

First, it is good to understand the origination of the Act, the planned purpose of the Act and its intended benefits. The CRA followed three other enacted laws that addressed housing discrimination and equal opportunities for housing for all peoples; however, the CRA took it a step … (2 comments)

real estate: Bargain Markets for Homebuyers and Investors - 06/06/10 04:58 AM
Since 2007, foreclosures and short sales have littered the real estate market and drove down the price of property and home values. The upside to the down housing market is that homebuyers and investors can find sweet deals in some of the nation's most sought after cities.

If cities like Milwaukee, Memphis, Baltimore and the Big D interest you, then you'll find a honey of a home in any of these metro areas. Though the initial listing price may begin at what properties are currently valued, they are often reduced from 26 to 33 percent. The top ten U.S. … (1 comments)

real estate: The Hard Facts About Hard Money Loans - 05/27/10 02:31 AM
Hard money loans have been around for quite a while, but just not so much in the forefront as are more traditional loans. There are a variety of uses for hard money loans, and they have evolved in the past several years as to how they are used and what is now required to obtain one. Although they have their advantages, hard money loans also have their limitations. Before applying for one, make sure that you cannot be approved for a more traditional loan. A hard money loan should be your last resort.

What is a Hard Money Loan?

… (3 comments)

real estate: Foreclosure Rescue Fraud Crackdown - 05/27/10 02:03 AM
Every aspect of the real estate industry has experienced fraud at one time or another. From homeowners, homebuyers and real estate professionals to lenders, appraisers and title companies, every step of the home buying process has been tainted by fraudulent activity. A greater abundance of it came to light more recently due to the housing market bust. Most once booming markets either diminished significantly or came to a screeching halt as foreclosures began to overshadow the home sales scene.

Subsequently, the flowing streams of wealth enjoyed by many during the housing bubble slowed to a trickle or dried up … (2 comments)

real estate: Five Bad Home Improvement Ideas - 05/16/10 03:28 AM
When considering adding value to a home, you consistently hear from the real estate industry that updated bathrooms and quality kitchens stand out in a home sale. Those are proven sale closers. There are certain other improvements you can make to your home that will beautify it or create convenience for your family. When it comes time to selling, however, those improvements may do nothing to increase the value of the property and may even turn off potential homebuyers.

Over-the-Top Renovations

Au contraire mon frère, not all renovations will raise the value of your home. Just `cause it's … (5 comments)

real estate: Is Now A Good Time to Buy? - 05/16/10 03:22 AM
Have home prices hit rock bottom? Probably not in some areas and maybe not as a whole. Nonetheless, now could be the best time to buy a house. Even with the homebuyer's tax credit due to expire at the end of the month, there are compelling reasons to buy a house in the current economy.

This recession made a good case for the renting over buying argument. But as the country tentatively enters the recovery phase, buying a house makes sense in many circumstances. The rent versus buy analysis has many considerations, including home prices, how long you planning on … (6 comments)

real estate: Mortgage Rates For The 5 and 1 Year ARM Hit All Time Lows - 05/16/10 03:07 AM
The 30 year rate fell from 5.00 to 4.93 this week. In a time where the news is filled with stories about inflation fears we are seeing mortgage rates steadily decline. This is the 5th week in a row where rates have held steady or fallen. Its also the lowest we have seen rates in 2010.

The 15 year dropped from 4.36 to 4.30. This is only slightly above the all time low of 4.27 for the 15 year fixed mortgage.

The 5 year arm dropped from 3.97 to 3.95 which is an all time low for the 5 … (1 comments)

real estate: Private Mortgage Insurance Basics - 05/01/10 04:04 AM
Keep in mind that when you buy a home and don't have 20 percent down, you may be required to pay for private mortgage insurance (PMI). PMI gives homebuyers the ability to buy a home with as little as three to five percent down. It also provides loan servicers assurance that, should your mortgage go into default and your home is foreclosed upon, the loan will be paid for. Those are the advantages, but there is a dark side to PMI.

A good example of this involves a recent bout Bank of America experienced with the Massachusetts Attorney General's office. … (1 comments)

real estate: Strategic Home Security Measures - 04/22/10 12:48 AM
Whether you're living in a large metropolitan city or in Podunk, USA, you'll need security in your home to protect your loved ones and personal possessions. You may not know this as a homeowner, but, just like in treating your health, prevention is the best medicine. The best way to not become victim to a security breach in your home is to exercise prevention.

One of the most important preventive measures you can use is to conduct an inspection on your home with a security specialist. You may also do this yourself if you are aware of the entry points … (1 comments)

real estate: 10 Things to Know Before Enlisting the Help of a Real Estate Agent - 04/12/10 01:53 AM
Real estate agents are great sources of information and assistance in the housing industry. Their purpose is to serve the real estate market with integrity. Under contract they have fiduciary responsibilities to their clients. Before enlisting the assistance of a real estate agent, there are 10 things to keep in mind.

1. Before a real estate agent can successfully sell your home, you need to have it in tip top shape. All colors inside and outside of the home should be in neutral colors, including wallpaper, painted walls, and the exterior. If you are a smoker or own a pet, … (4 comments)

real estate: Hope for Homeowners - 03/29/10 03:42 AM
Hope for Homeowners program was enacted to assist homeowners either in default or at risk of foreclosure. It began in October of 2008 and will end on September 30, 2011. Those eligible for the program will be provided a new 30-year, fixed-rate FHA-insured mortgage. For homeowners finding it hard to pay their existing mortgages, this may provide an avenue to refinance their current mortgage into one that they can afford.

Both lender and homeowner must formally agree to participate before a new mortgage can be approved.

Some of the program requirements are as follows:

* Your home … (1 comments)

 

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