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laurie scalf: US Real Estate Market Value trends - 07/23/08 03:26 PM
Below are some numbers that I found to be pretty interesting. The housing market has been consistent over time with appreciation and continues to be a solid investment.
Similar to other long-term investments, real estate will have it's ups and downs, but over time will increase in value.
Here is The Current Median Sales Price of U.S. Homes (found on Realtor.org)
WEST - $341,300
MIDWEST - $165,300
SOUTH- $185,000
NORTHEAST- $276,800
National Trends in the US on Average Home Value
1990 $95,500
1995 $112,900
2000 $139,000
2005 $219,600
2007 $222,600
Purchasing a home is a good investment
because it builds equity … (2 comments)
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laurie scalf: Better Credit, Better Loan - 07/07/08 01:56 PM
Do you know your Credit Score?
In short, the better your credit score, the more loan options you will have to choose from.
•· know your score
•· take steps to maintain good credit .
What Determines you Credit Score?
•· Your history of how you handle credit obligations (credit cards, car payments, etc.)
•· Your income-to-debt ratio (a comparison of how much money you make to your expenses).
•· Compiled information -Credit bureaus compile a record of debts from credit card companies, banks, department stores and other firms. This information appears on your credit report, so it shows whether … (0 comments)
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laurie scalf: How to get to closing! - 07/07/08 01:53 PM
Steps to a Successful Closing your new home!
You have finally found that perfect home, signed a purchase agreement, had your inspections and received approval on your mortgage. Congratulations! You are almost there! The only thing that awaits you now is the closing - where you officially receive your property and you have some documents to sign.
Here is an overview of what will be taking place once the closing date has been set:
•· A survey of the home's property will be conducted.
The title will be researched to verify the seller actually owns the property and that there are … (0 comments)
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laurie scalf: What is your credit score? - 07/01/08 09:25 AM
Your credit score
The first step in managing your credit score is to know where you stand. Everyone is entitled to 3 free credit reports per year.
annualcreditreport.com is the ONLY authorized online source for you to get a free credit report under federal law. You can get a free report from each of the three national credit reporting companies every 12 months. Some other sites claim to offer "free" credit reports, but may charge you for another product if you accept a "free" report.
Figure out the facts
Take a good look at the date on your report. Credit reports … (0 comments)
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laurie scalf: Getting rid of DEBT! - 07/01/08 08:58 AM
HOW TO RID YOURSELF OF DEBT!
The one we always hear... WHOA on the CREDIT CARDS! I have heard the adage from every direction that if you want to get out of a hole... STOP DIGGING!
STOP DIGGING TIPS!
Carry Cash - give yourself a weekly cash allowance and you'll be more aware of how much you spend. Plus once you run out of money, you're more inclined to stop spending! It's very easy to overspend when you just run a card through a machine!
When only plastic will do.... Use a debit card, instead of a credit card.
LEAVE YOUR CREDIT … (0 comments)
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laurie scalf: Get your financial goals in order - 07/01/08 08:35 AM
Financial Goals!
Setting goals for today and the future may not be easy, but getting your plan in order will get you where you want to go faster!
IDENTIFY YOUR GOALS!
WHAT? What do you want to accomplish (ex. pay off credit card, save for a home improvement, etc.)
WHEN? Set a specific start and end date for meeting you goal
WHERE? Where are you getting the money to meet your goals? Will it come from saving, cutting other expenses, investing, etc?
WHY? The most important question. Decide why your goal is important to you. Your "why" is what keeps you … (3 comments)
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laurie scalf: Tips to Sell a Home in this Market - 02/27/08 08:52 AM
Real Estate values have been falling in much of the US. The pace of new homes is down, as well, with many on the market for months.
There are strategies that can help you sell your home - For a fair price - even in this market.
First of all, you might have to be very aggressive, especially if your local market has tons of homes for sale.
** DON'T START WITH A HIGH PRICE - Asking price is the single most important reason that a house does not sell. In this buyer's market, it is a mistake to set a high price and … (4 comments)
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laurie scalf: Maintenance Calendar - 12/12/07 07:04 AM
For ongoing safety, efficiency and livability of your home, put these maintenance projects on the top of your list!!
January - Organize your home improvement files. Review warranties and product manuals and jot service reminders on your calendar.
February - Schedule an energy audit with your utility company. Repairing energy leaks can save significantly on your utility bills all year round.
March - Check for moisture in your crawl space, garage or other storage areas. If you see a problem, have a professional resolve it quickly before mold or mildew sets in.
April - Clean out rain gutters - Collect leaves … (1 comments)
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laurie scalf: Dayton Area Stats since 1973 - 12/12/07 06:49 AM
I thought this was interesting information on the single family home appreciation in the Dayton Market.
The chart below shows the average sale prices, dollar appreciation, percentage and cumulative appreciation for single-family homes in the Dayton area from 1973 to 2006. The average sale price is the mathematical average of all sold homes reported during the calendar year, and the appreciation rate is calculated from this average.
While the average sales price does not necessarily mean each and every home will appreciate every year, it's a good indication that the Dayton real estate market has been slowly but surely increasing in value.
… (0 comments)
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laurie scalf: Could Mortgage rates be lower than Last year? Indeed! - 09/19/07 08:43 AM
Interest rates on prime conforming loans fell across the board in the past week, with rates on 30-year fixed mortgages averaging 0.15 percentage points below the previous week's level. The drop in mortgage rates may give some relief to borrowers who are looking to refinance or purchase a home.
The 30-year fixed-rate mortgage averaged 6.31% for the week ending Sept. 13, 2007, down from 6.46% last week, according to Freddie Mac's weekly survey. The mortgage averaged 6.43% a year ago.
The 15-year fixed-rate mortgage averaged 5.97% for the week, down from last week's 6.15% average. The mortgage averaged 6.11% a year ago.
Adjustable-rate mortgages also … (2 comments)
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laurie scalf: Good Faith Estimate - Do you understand it? - 09/13/07 06:30 PM
The National Association of REALTORS (NAR) sent a joint letter to Housing and Urban Development (HUD) Secretary on August 8, 2007, encouraging HUD to undertake reform of the Good Faith Estimate under Real Estate Settlement Procedures Act (RESPA). The letter, co-signed by Center for Responsible Lending (CRL) President, in an effort to address abusive lending practices, in part, through a summary Good Faith Estimate . The letter also states that additional strong legislative and regulatory action will be required.
Specifically, the letter recommends a Summary Good Faith Estimate that highlights key loan terms and payment information in an easily understandable format and accompany the full Good Faith Estimate that would provide … (0 comments)
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laurie scalf: Remodeling by the numbers - 05/17/07 10:51 AM
Maybe you've been feeling the need for more space, less space, or just different space. You've been wondering-which solution will give me what I want with the least financial hit? Here's one gauge to use:
Expect moving to cost about 10% of your home's current value.
If your remodel project can be done for less than that, stay and do it!
But plan it with an eye on the potential resale value.
When you are ready to firm up your plans, here are suggestions from industry experts:
Kitchen:
Add usability with dual sinks and cooking stations. Add aesthetics with commercial-quality and stainless steel appliances, stone … (1 comments)
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laurie scalf: Why get an Real Estate Agent? - 05/04/07 12:25 PM
Why Get a REALTOR?Buying and selling real estate is a complicated matter. At first it might seem that by checking local books, newspapers or online sites you could quickly find the right home at the right price.
But a basic rule in real estate is that all properties are unique. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. Also, no two transactions are alike.
All the forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with professionals who know the community and has valuable experience. Those professionals are the local REALTORS who work in … (0 comments)
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laurie scalf: Is your house Smelly? - 05/04/07 12:06 PM
Here is a subject that REALTORS have to sometimes address:
If your home is on the market, Use your nose. Many people are oblivious to scents, but others are extremely sensitive to offensive odors.
To eliminate bad smells, do the following
* bathe your pets
* freshen the cat litter box frequently
* shampoo your carpets
* dry clean your drapes
* empty trash cans, recycling bins and ash trays. (better not to smoke in the house when it's on the market!)
*Place open boxes of baking soda in smell-prone areas, and refrain from cooking fish or strong-smelling foods before a showing
* Introduce pleasing smells by placing flowers or potpourri in your home … (1 comments)
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laurie scalf: Buyers benefit from open house - 05/04/07 11:24 AM
Home buyers all too often leave an open house simply because they didn't like the house. But what they really should be doing is taking advantage of a prime opportunity to pick up useful information that might aid in their search for a new home. From learning about the area to finding a good real estate agent, an open house can provide a wealth of knowledge whether you like the home itself or not.
So, outside of learning about the home, what other kinds of information might you learn by attending an open house? RealEstate.com shares some helpful facts:
Shop for an agent
If … (0 comments)
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laurie scalf: FHA Could help Consumers with safe Mortgage Products - 04/25/07 01:27 PM
The NATIONAL ASSOCIATION OF REALTORS stressed the need for the Federal Housing Administration to make changes to fill today's consumer demands. Some changes that could be made: The FHA could provide borrowers with a safer alternative to riskier mortgage products that are on the market today. They could boost loan limits, eliminate the 3 percent minimum cash down payment, and give the FHA flexibility to provide risk-based pricing. As sub-prime loans are being reevaluated and real estate markets have softened, a reformed FHA would be in the perfect position to offer home buyers better mortgage choice and help bring stability to … (1 comments)
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Laurie Scalf
Beavercreek,
OH
More about me…
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Office Phone: (937) 427-2525
Cell Phone: (937) 470-7879
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