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Tuesday, June 22, 2010
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The Senate has adopted Senator Harry Reid's (D-NV) amendment to the pending jobs and extenders legislation (HR 4213) that would extend the closing date for the homebuyer tax credit from June 30, 2010 to September 30, 2010. The amendment would apply only to purchasers who have satisfied the April 30 binding contract rule for the $8000 and $6500 tax credits. The amendment creates no new eligibility for the credit. Once through the Senate, the bill must go back to the House for their approval before obtaining the President's signature. While the timing remains uncertain, completion is expected sometime next week.
Congress will be in session during the weeks of June 21 and June 28, so votes on the legislation are still possible before the June 30 deadline.
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| Posted by dawnmitchell at 12:21 PM |
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Friday, June 04, 2010
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complainless: (adj.) 1. to be free of complaints 2. a pleasure to be around
Remember, ... Your words move others. Your words move you. Let yours send everyone in the right direction as we kick off the first salesweek of the summer season...
To be ComplainLess...
Be aware. Recognize your typical paths to complaining - what
(who) sparks your tendency to gripe. Minimize your exposure to them (eliminating those 'sparks' altogether may not always be realistic or the best thing). Know that your grumbling is a complete waste of energy.
Be thankful. Regularly reflect on all the good in your life (people, opportunities, things). Understand and enjoy how lucky you really are. Be entitled to nothing.
Pause before you begin. Clip a complaint as you feel it coming. Put a smile or thoughtful statement in its path. Blame no one.
Blame nothing.
Be accountable. Focus on solving problems rather than having them. Set the example for others and recommit when you slip. Care for yourself and create a positive hab
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| Posted by dawnmitchell at 10:02 PM |
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Thursday, June 03, 2010
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Top 10 Myths About Buying a Foreclosure
Trulia.com and RealtyTrac recently surveyed US adults to get some insight into what people *think* is involved with buying a foreclosure. Here are the Top 10 Myths that came up, and the facts to set the record straight:
1. Foreclosures need a huge amount of work. 92 percent of consumers expressed that if they bought a foreclosure, they would be willing to make home improvements after they closed the deal, with 65 percent being willing to invest 20 percent or less of the purchase price. Although stories of foreclosures missing plumbing and every electrical fixture are very memorable, many foreclosed homes need only the (relatively inexpensive) cosmetics that many new homeowners want to customize no matter what kind of home they?re buying: paint, carpet, etc.
2. Foreclosures sell at massive discounts, compared to other homes. Almost every member ? 95 percent ? of the surveyed group expected to pay less for a foreclosed home than for a similar, n
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| Posted by dawnmitchell at 10:44 AM |
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Wednesday, May 19, 2010
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With escalating gas prices and perhaps an increasing desire to watch the budget and stay a bit closer to home, there's a great option available to those who want to have a sense of adventure without traveling very far: playing 'tourist' in your own town.
Even if you do have glamorous travel plans on the radar for the year ahead, playing tourist in your own town offers a chance to have some fun and see your usual surroundings in a brand new way. All it takes is the intention to do it, and a sense of fun and adventure.
Almost every locality has certain facets that make it unique: the natural environment, historical sites, tourist attractions, walking trails, hometown diners, architecture, or quirky local treasures. When you decide to play tourist in your own town, you set out to discover some of the things that you might otherwise take for granted.
Try setting aside a day every once in awhile to learn more about the lesser known facets, or experience familiar ones in a new way. You'll not only gain a greater
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| Posted by dawnmitchell at 3:22 PM |
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Monday, May 17, 2010
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It's a buyer's market. Doesn't that mean that buyers get what they want? Doesn't that mean that home sellers are making all the concessions, submitting to purchasers demands on everything from price breaks to whether or not the hall chandelier stays?
Yes, buyers hold the cards these days.... But, call it a curse of human nature - having ample choice and negotiating power can sometimes be too much of a good thing leading to a tinges of regrets. Experts say "buyer's remorse" can happen in both a soft and boom markets. But it's a malady that can be avoided. Here, some tactics for buyers on how to purchase with confidence..... read more
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| Posted by dawnmitchell at 12:56 PM |
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Wednesday, April 28, 2010
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About a fifth of all IRS examinations done by mail in the past six months were for people claiming the credit, National Taxpayer Advocate Nina E. Olson told a congressional committee Thursday -- the filing deadline for individual tax returns.
The audits mean big delays in getting refunds -- as much as five months -- just as Congress and the Obama administration hope that tax refunds will spur economic growth and the homebuyer tax credit will improve the housing market.
Read more.......
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| Posted by dawnmitchell at 12:16 PM |
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Wednesday, April 21, 2010
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The following are some questions that will help you decide whether you?re ready for a home that?s larger or in a more desirable location than your current one.
If you answer yes to most of the questions, it?s a sign that you may be ready to move.
Have you built substantial equity in your current home?
Look at your annual mortgage statement or call your lender to find out. Usually, you don?t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you?ve owned your home for five or more years, you may have significant, unrealized gains.
Has your income or financial situation improved?
If you?re making more money, you may be able to afford higher mortgage payments and cover the costs of moving.
Have you outgrown your neighborhood??????????????????? read more
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| Posted by dawnmitchell at 11:12 AM |
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Buying a home is perhaps the most arduous, expensive and, ultimately, valuable acquisition you'll ever complete
Just one mistake could mean disaster -- perhaps the worst mistake you'll ever make.
In order to avoid titanic trip ups during such a trying transaction, buyers should get to know the most common home buying blunders.
To know them is to avoid them.
?Going solo: Buying a house is a complex transaction. It should be a team effort. You'll need a REALTOR?, lender, inspector, insurer, perhaps a lawyer, and other team members to help you through each step of the way. Team build before you start the search.
?Love at first sight: If you believe in fairy tales you probably shouldn't be buying a home. You won't live happily ever after if you emote your way through the home buying process. Your home should fit your real needs, not your yen for drama. Buy a home that fits your budget and your lifestyle........... read more
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| Posted by dawnmitchell at 11:05 AM |
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Monday, March 29, 2010
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Overview of Home Affordability Modification Guidelines
Loans must have originated on or before January 1, 2009.
Mortgages must be for a single-family residence with a loan balance no greater than $729,750.
Loans can only be modified once beginning March 4, 2009 through December 31, 2012.
Home cannot be vacant or condemned and must be a primary residence?not investor owned.
Interest rate can be lowered to as low as 2 per cent and the term of the mortgage can be extended to a maximum of 40 years in order to maximize the reduction in loan payment.
Borrowers will need to provide an "affidavit of financial hardship", their most recent tax return, and two recent pay stubs.
Service providers will be required to follow a sequence of steps that modify the loan in order to reduce the monthly loan payment to no more than 31% of gross monthly income.
Homeowners who make their payments on time are eligible for up to $1,000 of principal reduction payments each year for up to five years.
For more information read:
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| Posted by dawnmitchell at 10:47 AM |
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