coral springs: Pay Your Mortgage Early, Boost Your 2011 Federal Income Tax Deductions
- 12/23/11 01:26 AM
Time is running out to boost to your 2011 federal tax refund. All you have to do is make your January 2012 mortgage payment while it's still December. It's a simple tax strategy that works because of how mortgage interest is paid, and of how the U.S. tax code is written. Different from rent which is paid for the month ahead (i.e. "you're paying January's rent"), mortgage payments are made only after mortgage interest has accrued (i.e. "you're paying for money you've already borrowed from the bank"). This is called "paying interest in arrears" and U.S. tax code states that the … (2 comments)
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coral springs: Home Supplies Fall To 7.0 Months Nationwide; Buyer Demand Strong
- 12/22/11 02:15 AM
Home resales moved to a 10-month high in November, the latest in a series of strong showings from the housing sector. According to the National Association of REALTORS®, November's Existing Home Sales rose to a seasonally-adjusted, annualized 4.42 million units nationwide -- a 4 percent climb from October 2011. An "existing home" is a home that has been previously occupied and cannot be categorized as new construction. Home buyers and sellers throughout Parkland and Coral Springs should take note of November's numbers because -- behind the headlines -- there's a series of statistics that foretell higher home prices ahead. First, the … (1 comments)
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coral springs: Housing Starts Show Strength In Housing
- 12/21/11 05:39 AM
The new construction housing market continues to show strength across the country. According to the U.S. Census Bureau, Single-Family Housing Starts rose to 447,000 units on a seasonally-adjusted, annualized basis in November -- a 2 percent increase from October. A "Housing Start" is defined as breaking ground on new home construction. November's figures mark the third straight month of Single-Family Housing Starts gains. The new construction metric is now 15 percent above its all-time low, set in February of this year. None of this should be a surprise to new home buyers in Parkland FL. Housing data has been trending better … (1 comments)
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coral springs: Mortgage Payments Fall 12% Since February 2011
- 12/16/11 03:16 AM
As mortgage rates drop, so do housing payments. It's a good time to consider refinancing your home, or making an offer on a new one. Mortgage payment affordability has never been so high in history. According to Freddie Mac, the average 30-year fixed rate mortgage rate is now 3.94 percent -- an all-time low -- with an accompanying 0.8 discount points. This means that in order to get access to the 3.94 percent rate,Parkland & Coral Springs homeowners and home buyers should expect to pay a loan fee equal to 0.8% of the borrowed amount, plus "normal" closing costs. Last week, … (0 comments)
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coral springs: A Simple Explanation Of The Federal Reserve Statement (December 13, 2011 Edition)
- 12/13/11 09:12 AM
Tuesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was nearly unanimous for the second straight month. Just one FOMC member dissented in the vote, favoring additional policy stimulus beyond what the Federal Reserve currently provides. In its press release, the Federal Reserve said that the the U.S. economy is improving, noting that since its November 2011 meeting, the economy has been "expanding moderately". The Fed also added that domestic growth is occurring despite some "apparent slowing in global growth" -- a nod to ongoing uncertainty … (0 comments)
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coral springs: How To Clean A Cutting Board
- 12/12/11 01:20 AM
Germ studies show that a kitchen cutting board carries up to 200 times more bacteria than a toilet seat. This is because homeowners clean their bathrooms with fervor, while only "rinsing" down parts of their kitchens. In failing to disinfect cutting boards (among other kitchen mainstays), homeowners in Parkland and Coral Springs and everywhere else leave untouched a prime bacteria breeding ground, and may be getting sick as a result. According to the CDC, 48 million Americans get sick from food-borne bacteria each year. If it's been a while since you've cleaned your kitchen cutting board, here are some tips on … (5 comments)
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coral springs: Have Mortgage Rates Bottomed Out?
- 12/07/11 03:19 AM
Mortgage rates have troughed. Or, so it seems. According to Freddie Mac's weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage is 4.00 percent nationwide -- roughly the same rate as it's been for 5 weeks. During that times, rates have ranged between 3.97 and 4.02 percent with an accompanying 0.7 discount points, plus "typical" closing costs. Closing costs vary by state and 1 discount point is equal to 1 percent of your loan size. In other words, to get the weekly, published Freddie Mac rate, borrowers in FL should expect to pay a complete set of fees to … (0 comments)
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coral springs: Fed Minutes Suggest New Economic Stimulus Next Week
- 12/06/11 03:45 AM
The Federal Open Market Committee released its November 2011 meeting minutes, revealing a Fed split on whether new stimulus is needed for the U.S. economy. The Fed Minutes is published 8 times annually, three weeks after each scheduled Federal Open Market Committee meeting. It's the official record of the meeting's policy-shaping debates and dialogues. The Fed Minutes is the lengthier companion piece to the FOMC's more well-known, post-meeting press release. As compared to press release which is concise and focused at 492 words, the Fed Minutes is comprehensive and broad, totalling 7,682 words over 11 pages, complete with charts. The November … (0 comments)
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coral springs: How To Install A Dimmer Switch
- 12/05/11 01:45 AM
A Parkland and Coral Springs home's lighting accounts for 15 percent of its total energy consumption, a fact that's both costly to homeowners, and "un-green" to the environment. It's simple to reduce those effects, however -- all you need are dimmer switches. A modern dimmer switch works by rapidly opening and closing a light circuit, providing less energy to the bulb, and consuming less energy from the source. In this 2-minute video, you'll learn how to reduce your home's standard on/off lighting switches using dimmer switches. The dimmer-switch project is a do-it-yourself project and requires only basic handyman experience. First, determine … (1 comments)
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coral springs: More Housing Strength : Pending Home Sales Surged In October
- 12/02/11 02:49 AM
If you're waiting for home prices to reach its bottom, you may have missed your window. After 3 consecutive months of easing, the Pending Home Sales Index jumped 10 percent in October, lending credence to the belief that housing is in recovery. The Pending Home Sales Index is a monthly publication from the National Association of REALTORS®. It measures the number of homes under contract to sell nationwide. October's reading is the highest for all of 2011, and the second-highest dating back to April 2010. April 2010 was the last month of the last year's federal home buyer tax credit. For … (0 comments)
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coral springs: Case-Shiller Index: 17 Of 20 U.S. Housing Markets Slipped In September
- 11/30/11 01:57 AM
Standard & Poor's released its September 2011 Case-Shiller Index this week. The index tracks home price changes in select cities between months, quarters, and years. The Case-Shiller Index for September showed drastic devaluations nationwide. As compared to August, home values fell throughout 17 of the index's 20 tracked markets, led by Atlanta's 5.9% drop. On an annual basis, home values have now returned to early-2003 levels. That said, home buyers and sellers in the Parkland , Heron Bay , Parkland Isles , Parkland Reserve , Parkland Golf & Country Club area should be cautious when referencing the Case-Shiller Index. The index … (0 comments)
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coral springs: New Home Supplies Fall To An 18-Month Low
- 11/29/11 01:27 AM
If you plan to buy new construction in FL sometime in 2012, don’t expect today’s low prices. Like everything in housing of late, the market for newly-built homes appears to be stabilizing and, in some markets, improving.
As foreshadowed by this month’s strong Homebuilder Confidence survey, the Census Bureau reports that the number of new homes sold rose to a 6-month high in October, climbing to 307,000 units on a seasonally-adjusted, annualized basis.
A “new home” is a home that is considered new construction. It’s the opposite of an “existing home”.
Home buyers are comparing new construction to home resales … (2 comments)
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coral springs: Home Improvement Projects : How Much Equity Will You Build?
- 11/28/11 01:05 AM
Home Improvement Projects : How Much Equity Will You Build?
Home improvement projects are booming, expected to cross $110 billion in total volume this quarter. Unlike in recent years, however, the projects aren’t helping to create much new home equity.
According to Remodeling Magazine’s Cost vs Value Report 2011-2012, for each home improvement dollar spent in 2012, homeowners can expect to recoup just 58 cents in home equity.
This figure is down sharply from 2005, when the cost-to-value ratio was 87 percent.
Home Improvement Projects : How Much Equity Will You Build?
Today’s Parkland and … (5 comments)
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coral springs: Conforming Loan Limits Unchanged For 2012
- 11/27/11 03:10 AM
Conforming Loan Limits Unchanged For 2012
A conforming mortgage is one that, literally, conforms to the mortgage guidelines as set forth by Fannie Mae and Freddie Mac.
Conforming mortgage guidelines are Fannie’s and Freddie’s eligibility standards; an underwriter’s series of check-boxes to determine whether a given loan should be approved.
Among the many traits of a conforming mortgage is “loan size”.
Each year, the government re-assesses its maximum allowable loan size based on “typical” housing costs nationwide. Loans that fall at, or below, this amount meet conforming mortgage guidelines. Loans in excess of this limit are known as “jumbo” loans.
Between … (2 comments)
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coral springs: Maximum FHA Loan Limits Restored To $729,750
- 11/25/11 03:04 AM
Maximum FHA Loan Limits Restored To $729,750 By Jon Klein After a brief return to lower, pre-2009 levels, FHA loan limits have been restored. As signed into law last Friday, maximum FHA loan limits are — once again — as high as $729,750.
The move creates additional mortgage financing possibilities in more than 650 U.S. counties, and promises to increase the FHA’s mortgage market share, which has grown from 6% in 2007 to roughly 30% today.
The change in FHA loan limits also marks the first time that FHA loan limits exceed those of conventional mortgage-backers Fannie Mae and Freddie Mac.
… (0 comments)
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coral springs: Housing Starts Rising; New Construction Turns The Corner?
- 11/18/11 01:21 AM
Housing Starts Rising; New Construction Turns The Corner?
Another day, another signal that the market for newly-built homes is improving.
Single-Family Housing Starts rose to a seasonally-adjusted, annualized 430,000 units in October — a 4 percent increase from September and the highest reading in 3 months.
A “Housing Start” is a home on which ground has been broken.
The increase in surprised Wall Street analysts, although it shouldn’t have.
Earlier this week, the National Association of Homebuilders showed that Homebuilder Confidence is at its highest point since May 2010, the effect of better market conditions and more … (1 comments)
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coral springs: Government Releases Additional HARP Guidance For Underwater Homeowners
- 11/16/11 01:53 AM
Tuesday, Fannie Mae and Freddie Mac unveiled lender instructions for the government’s revamped HARP program, kick-starting a potential refinance frenzy across Florida and nationwide.
HARP stands for Home Affordable Refinance Program. The updated program is meant to give “underwater homeowners” in Florida and the rest of the country an opportunity to refinance at today’s low mortgage rates.
In the two-plus years since its launch, HARP’s first iteration helped fewer than 900,000 homeowners. HARP II, by contrast, is expected to reach millions.
Lenders begin taking HARP II loan applications December 1, 2011.
To apply for HARP, applicants must first meet 4 basic criteria … (1 comments)
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coral springs: Foreclosure Filings Climbing; 4 States Account For Half Of Nationwide Activity
- 11/15/11 07:47 AM
Foreclosure Filings Climbing; 4 States Account For Half Of Nationwide Activity
Foreclosed homes are a hot market throughout South FL — and supplies are ramping up.
According to foreclosure-tracking firm RealtyTrac, October’s foreclosure filings rose 7 percent to 231,000 filings nationwide.
A “foreclosure filing” is any one of the following foreclosure-related events : A default notice on a home; a scheduled auction for a home; or, a bank repossession of a home. Because of this definition, a single home can account for up to 3 foreclosure filings — one from each category.
Because of this, we may glean more relevant insight into … (0 comments)
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coral springs: Using Space Heaters? Use This Safety Advice.
- 11/14/11 01:21 AM
Using Space Heaters? Use This Safety Advice.
Space heaters are popular among homeowners in Parkland and Coral Springs because, as portable appliances, they can heat a small space quickly and inexpensively. It requires less energy to run a space heater than to raise the temperature of an entire home by a few degrees.
However, space heaters can be dangerous, too.
In its November 2011 report, the National Fire Protection Association reveals that heating equipment was involved in an estimated 58,900 home structure fires, 480 civilian deaths, 1,520 civilian injuries and more than $1.1 billion in damage.
Space … (4 comments)
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coral springs: Contact for South Florida Real Estate (Parkland, Coral Springs, Boca Raton and More)
- 11/11/11 01:36 AM
Contact for South Florida Real Estate (Parkland, Coral Springs, Boca Raton and More)
www.facebook.com/jonkleinrealtor
Click here to view Jon Klein & Parkland Homes for Sale & Coral Springs Homes for Sale
Click here to view Home Values in Parkland & Home Values in Coral Springs
View my listings at http://www.jonklein.com
… (0 comments)
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Time is running out to boost to your 2011 federal tax refund. All you have to do is make your January 2012 mortgage payment while it's still December. It's a simple tax strategy that works because of how mortgage interest is paid, and of how the U.S. tax code is written. Different from rent which is paid for the month ahead (i.e. "you're paying January's rent"), mortgage payments are made only after mortgage interest has accrued (i.e. "you're paying for money you've already borrowed from the bank"). This is called "paying interest in arrears" and U.S. tax code states that the … (2 comments)
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