Housing Values Drop, But Insurance Rises?
January 7, 2011 by Melodye · Leave a Comment
Housing Values Drop, But Insurance Rises?
Home prices are falling across the country, but many home owners are paying more to insure their homes. So why is insurance going up when a home’s value is going down?
“The price of homeowners’ insurance is based on the cost to repair or rebuild your home. The price of a [...]
Some Foreclosures Showcase Big, Bad, Ugly
January 7, 2011 by Melodye · Leave a Comment
In Lane County, Ore., real estate professionals have practically seen it all when it comes to foreclosed properties, from one property owner cutting a hole in his kitchen wall so he could take his jacuzzi bathtub with him as he left to other evicted home owners’ who have smashed walls in with golf clubs or [...]
Who Really Benefits from the MID
January 7, 2011 by Melodye · Leave a Comment
NATIONAL ASSOCIATION OF REALTORS®’ Chief Economist, Lawrence Yun sent the following letter to the editor of The Washington Post in response to the January 1, 2011 article, “Trim the Excessive Tax Subsidy for Real Estate.”
“It’s a common misperception that the mortgage interest deduction benefits primarily the wealthy, as argued in the Washington Post’s January [...]
States With the Longest Foreclosure Processes
January 7, 2011 by Melodye · Leave a Comment
Once a home owner falls into foreclosure, the eviction doesn’t happen right away — in fact, it may take years before delinquent borrowers finally have to turn over their keys.
Data by LPS Applied Analytics shows that New York holds the longest average in the nation–mortgage loans in the foreclosure process in New York have been [...]
Foreclosures Reach Record Highs in 2010
January 6, 2011 by Melodye · Leave a Comment
Foreclosures were big in 2010 and buyers eager to own them came out in record numbers, Foreclosure Deals, a news source, reports.
Experts are expecting foreclosures to climb even higher in 2011.
“We saw a lot more repossessions, but we also saw record numbers of home buyers at foreclosure sales,” said James Foxx, business analyst for Foreclosure [...]
Mortgage Activity Mixed at Year End
January 6, 2011 by Melodye · Leave a Comment
Home loan demand closed out 2010 on a decline, with borrowing costs lingering at the highest levels seen in seven months.
According to the Mortgage Bankers Association, its index of refinance applications bumped up 3.9 percent in the last week of the year but skidded 7.2 percent in the prior week.
Its gauge of purchase loan requests, [...]
4 Fading Fads That You Won’t See in 2011
January 6, 2011 by Melodye · Leave a Comment
By Melissa Dittmann Tracey, REALTOR® Magazine
We keep hearing about what’s popular in 2011 for home design — but how about what’s not? Builder Magazine writer Jenny Sullivan asked industry experts to weigh in on design fads that you won’t likely see in the new year. Here are some of the fading home trends experts mentioned:
1. [...]
‘Secret’ Way to Lower Mortgage Payments
January 6, 2011 by Melodye · Leave a Comment
‘Secret’ Way to Lower Mortgage Payments
Home owners can trim their monthly mortgage payments by “recasting” or “re-amortizing” their loan, without having to refinance and face hefty closing cost fees, experts say.
When recasting, the borrower pays off a lump sum of the loan’s principal and then resets monthly payments at the loan’s original interest rate and [...]
Existing Home Sales Rise 5.6%
December 22, 2010 by Melodye · Leave a Comment
NAR: Existing-Home Sales Rise 5.6%
Existing-home sales got back on an upward path in November, resuming a growth trend since bottoming in July, according to the National Association of REALTORS®.
Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums, and co-ops, rose 5.6 percent to a seasonally adjusted annual rate of 4.68 million in November [...]
Home Modifications for Boomers Are Booming
December 22, 2010 by Melodye · Leave a Comment
Home Modifications for Boomers Are Booming
A survey by AARP earlier this year found that 33 percent of adults older than 45 have modified their homes to allow them to age comfortably in place.
Aging-in-place modifications can include:
· Decorative grab bars in showers
· Step-free entrances
· Levered door handles
· Raised electrical outlets
· Bathrooms that can accommodate wheelchairs
· Widened [...]
