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01/27/2011 - Mortgage Rates Reverse Course on Positive Housing Data! - (RealtyTimes) In Freddie Mac's results of its Primary Mortgage Market Survey the average mortgage rates climbed as the housing market ended 2011 on a high note. The 30-year fixed-rate mortgage averaged 3.98 percent reversing its previous three-week trend of setting all-time record lows. Despite the jump, this marks the eighth consecutive week the 30-year fixed has remained below 4.00 percent.
News Facts
• 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending January 26, 2012, up from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.80 percent.
• 15-year FRM this week averaged 3.24 percent with an average 0.8 point, up from last week when it averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 4.09 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent this week, with an average 0.7 point, up from last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 3.70 percent.
• 1-year Treasury-indexed ARM averaged 2.74 percent this week with an average 0.6 point, matching last week when it averaged 2.74 percent. At this time last year, the 1-year ARM averaged 3.26 percent.
According to Frank Nothaft, vice president and chief economist, Freddie Mac:
"Fixed mortgage rates ticked up this week as the housing market ended 2011 on a high note. New construction of one-family homes rose 4.4 percent in December to an annualized rate of 470,000, the most since April 2010. Existing home sales increased 5.0 percent at the end of the year to 4.61 million houses, the largest amount since May 2010. Furthermore, pending home sales in November and December averaged the highest reading since the March and April 2010 period."

Fed Vows to Keep Rates Low Until 2014! - (Daily Real Estate News) - The Federal Reserve announced that short-term interest rates will likely stay near zero for nearly three more years, a move that is expected to spillover to long-term mortgage rates for home buyers and home owners.
In August, the Fed had made a rare move to say it would keep rates near zero until at least mid-2013. The Fed said Wednesday that the economy still needs more help and it will now extend that period to 2014.
Fed Chairman Ben Bernanke said in a news conference that the Fed isn't happy with the modest economic recovery and that the Fed may need to take additional steps to spur recovery. He did not comment further on what those steps might be, though.
While the economy has improved somewhat in recent weeks, Fed officials say it's worried about "strains in global financial markets" and the still high unemployment rate.
Some critics say that the Fed's vow to keep mortgage rates loWer won't do enough to help the economy and the housing market. They argue that too many Americans are already unable to take advantage of the record low mortgage rates because of the tightening of lending standards.
Bernanke shared that concern, saying that millions of home owners were unable to refinance because of damaged credit or being underwater in their homes.

Foreclosure Sales are Down, Average Discount 34% - (Daily Real Estate News) - In the third quarter of 2011, homes that were in foreclosure accounted for 20 percent of all residential sales in the country, according to RealtyTrac in its latest Foreclosure Sales Report.
While a high number of foreclosures still persist, the bulk of foreclosed home sales is shrinking. In the second quarter of 2011, foreclosures accounted for 22 percent of all sales and 30 percent of all sales in the third quarter of 2010. For comparison, in 2005 and 2006, foreclosure sales accounted for less than 5 percent of all sales.
Foreclosures continue to sell at big discounts compared to non-foreclosures. Foreclosures in the third quarter sold for about a 34 percent discount compared to the average home not in foreclosure, according to RealtyTrac. The average sales price of a home in foreclosure was $165,322, which is up 1 percent from the second quarter, yet down by 3 percent from the third quarter of 2010.
"While foreclosures continue to represent an excellent bargain-buying opportunity for many buyers and investors, foreclosure sales accounted for a smaller share of the total market in the third quarter," Brandon Moore, chief executive officer of RealtyTrac, said in a statement. "That trend is not too surprising given the continued ambiguity surrounding proper foreclosure procedures-and the ripple effect that has on sales of foreclosed properties that might have been improperly foreclosed. The sooner the market gets more clarity about accepted foreclosure procedures ... the sooner the market can more efficiently dispose of these distressed properties."
States With Highest Foreclosure Sales
The states with the highest percentage of foreclosure sales in the third quarter were:
• Nevada: Nearly 57% of all residential sales were from foreclosure-related sales
• California: Nearly 44% of all residential sales
• Arizona: 43% of all residential sales
• Georgia: 34% of all residential sales
• Colorado: 26% of all residential sales
• Michigan: 23% of all residential sales
Pre-Foreclosure Sales Surge in These States
Meanwhile, pre-foreclosure sales - which are often sold via short sale - were on the rise in several states. The average sales price of a pre-foreclosure sale was $191,119 in the third quarter, a discount of 24 percent compared to a home not in foreclosure, according to RealtyTrac data.
Pre-foreclosure sales jumped the most in the following states during the third quarter:
• Michigan: Up 68%
• North Carolina: 44%
• Ohio: 43%
• Georgia: 35%

Flashy Kitchens Seldom Make Economic Sense! - (InmanNews) - America's obsession with granite, other gimmicks By Arrol Gellner.
Kitchen design has always been rife with faddish gimmicks.
Remember the indoor barbecue? The disappearing mixer? The built-in blender? The retractable range top?
If you're not old enough to recall those, how about all those wine racks, pot fillers and appliance garages seen in kitchens of the past 20 years? Or the dual dishwashers, six-burner ranges and colossal refrigerators that were considered so indispensable at the height of the "Great Big Ol' Housing Bubble"?
Kitchen fads aren't limited to fancy equipment. Finishes also make the inevitable journey from chic to dreck. For instance, countertop fashions have successively cycled from ceramic tile during the interwar years to plastic laminate ("Formica") in the postwar era, then back to tile in the 1970s before moseying through various solid plastics such as Corian.
In the '90s, countertop fads among the super-hip took a side trip to polished concrete, while mainstream kitchen design settled into today's ubiquitous and long-running infatuation with granite slabs.
To judge by most kitchens these days, in fact, you'd think granite was the only countertop material left on the planet. Granted, it's durable stuff, but for my money, putting stone with a 200-year lifespan on top of cabinets that'll wear out in 30 years, if that, seldom makes economic sense.
Moreover, while it's one thing to commit to a momentarily trendy color or pattern -- as people often did with inexpensive plastic laminate tops -- it's quite another to get stuck with a kitchen full of pink granite for all eternity.
Invariably, these and many other formerly red-hot kitchen fads are eventually revealed to be ingenious strategies for selling kitchen products, but not necessarily practical ideas for the way most people actually cook.
Chances are, if the absence of the latest kitchen gimmick hasn't cramped your normal cooking style up to now, you probably don't need it anyway.
Naturally, people in the business of selling expensive kitchen goodies aren't terribly anxious for people to get back to basics. They've worked long and hard since the postwar era to convince consumers that the kitchen should be as glitzy as any other room in the house -- hence all those furniture-grade cabinets with lustrous coats of lacquer, acres of shining granite, and yards of glittering stainless steel that are so emblematic of today's kitchen design.
But as anyone who actually cooks will attest, the quality of a kitchen isn't judged by the depth of lacquer on the cabinets. And especially in this dismal economy, no remodeler should measure a kitchen's worth against the absurdly inflated standards of recent years.
What matters most is that your kitchen is meticulously tailored to your own style of cooking. Where will you keep the silverware, the coffee, the Cheerios? Will the stock pot, the colander, the cheese grater be at hand when you need them?
When you get right down to it, it's not the chest-beating gimmicks, but rather the little details like these, that make for a great kitchen. How it cooks is still more important than how it looks.

Buying in an HOA! - (RealtyTimes) - The HOA, or Homeowner's Association, can be very appealing to buyers. It can be the perfect way to have control over the appearance of your neighborhood as well as the look of your common areas.
Many HOA's offer neighborhood activities (dances, mixers, etc), pools, gyms, walking trails, tennis courts, and of course beautiful landscaping.
Before you purchase a home that is located within an HOA, however, it's important that you ask questions and do your research. Not all HOAs are created equal. Some may be more lax on enforcing rules, others may have a history of poor management, and still others may be financially irresponsible.
This last issue should be a key point that you discuss with the HOA board or your real estate agent. You want an HOA that does periodic reserve studies and has plenty of money on hand for major repairs, such as refinishing a swimming pool, adding a roof to a common building, and repairing sidewalks and parks.
If an HOA runs short, meaning they haven't been charging the correct amount each month to homeowners in anticipation of these cost, they may need to do a special assessment and charge each owner a one time fee which can be quite steep.
Next, find out about your dues. HOA's charge either monthly, quarterly, or yearly dues that help pay for reserve studies, upkeep common areas, and handle any legal or legislative fees. You'll need to be sure you anticipate this cost. For condo units, this monthly fee can be hundreds if not thousands of dollars. That cost is on top of your monthly mortgage and bills and you must pay it.
Discuss the CC&R's with your real estate agent. This stands for Covenants, Conditions & Restrictions. Many HOA's don't allow certain improvements that you might want to make in the future. You might not be able to remove shrubs or trees without permission, build detached buildings, or install a swimming pool.
Find out what all you will get with this HOA. Are there certain special services like trash pick-up that they'll take care of? Do the benefits outweigh the costs?
An HOA can be a wonderful thing. It can foster community togetherness through common areas and activities. You can actually get to know your neighbors! It can help keep your neighborhood looking trim and neat for years, if not decades, to come. Just be sure to check out the ins and outs and dollars and cents of your prospective HOA before signing on the dotted line. Not all HOAs are equal and you want to find the best fitting HOA for you!

REMEMBER TO VOTE IN YOUR STATE'S PRIMARY AND/OR IN THE GENERAL ELECTION AS YOUR CIVIC DUTY AND A CITIZEN OF THIS GREAT COUNTRY!



01/20/2012 - 30-Year Fixed-Rate Mortgage Averages 3.88 Percent! - (RealtyTimes) In Freddie Mac's results of its Primary Mortgage Market Survey® the average mortgage rates changed little amid mixed economic data. Regardless, the 30-year fixed-rate mortgage edged down slightly to 3.88 percent to a new all-time record low marking the seventh consecutive week below 4.00 percent.
• 30-year fixed-rate mortgage (FRM) averaged 3.88 percent with an average 0.8 point for the week ending January 19, 2012, down from last week when it averaged 3.89 percent. Last year at this time, the 30-year FRM averaged 4.74 percent.
• 15-year FRM this week averaged 3.17 percent with an average 0.8 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 4.05 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82 percent this week, with an average 0.7 point, matching last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 3.69 percent.
• 1-year Treasury-indexed ARM averaged 2.74 percent this week with an average 0.6 point, down from last week when it averaged 2.76 percent. At this time last year, the 1-year ARM averaged 3.25 percent.
According to Frank Nothaft, vice president and chief economist, Freddie Mac:
"Mortgage rates were nearly unchanged this holiday week in lieu of a mixed bag of economic data reports. On the consumer front, retail sales edged up only 0.1 percent in December, but the Reuters/University of Michigan sentiment index continued to climb in January to the highest reading since February 2011. On the business side, industrial production rose 0.4 percent in December, slightly below the market consensus forecast, and the core producer price index rose faster than market expectations. Finally, on the home construction front, builder confidence rose for the fourth consecutive month in January to the highest level since June 2007."

How Does My Home Compare to Others on the Market? - (RealtyTimes) - Real estate agents use comparable sales or "comps" (properties recently sold in the area) to see what the market bears for a listing price or value range marketing.
But what makes a home a good comp? A few things must line up in order for the agent to utilize the comp to justify your listing price. The same neighborhood, school district, similar street and, of course, similar housing features and size. If these things align, then a comp can be used to provide a current estimated value of your home.
Ideally, using a comp from a home that is the same model in the same subdivision is key. Even better is if a sold comp closed escrow very recently. Taking comps from many weeks or months before can weaken the comp.
The expertise of a highly knowledgeable real estate agent can save you many hours of research and headaches. Most people don't really know how to compare real estate properties, which is why they hire an agent. Good agents take the work out of selling your home and give you solid reason to understand why the agent is pricing the home at a particular price.
Location, upgrades, amenities, sale date, extras, foreclosures, short sales, and unique nuances of the home all affect the listing price and how your home is compared to a comp.
Taking a closer look at each of these shows exactly what people in your area might be looking for when it comes to buying a home. For instance, a higher price on a home that has a pool can indicate that this is a family neighborhood and buyers put an increased value on amenities that create family/social fun. Your home may not have a pool but it might have another type of amenity: tennis courts, gym, or putting green.
Agents look at both what is similar and what makes your home stand out. They search for the best characteristics to showcase and, when comparing your home to others that have sold, they look to see how yours stacks up from a buyer's perspective.
Agents can add value to a home that might not have, say, for instance, the pool. Instead, your home might have an extra bedroom or den complete with floor-to-ceiling, high-quality bookcases.
Reviewing the comps can provide a lot of insight about sales in your neighborhood. Physically viewing the properties can be even more eye-opening. Agents who routinely work in the neighborhood may have an excellent grasp of which homes will sell fastest. It's not a lucky guess.
They've been inside these homes and have seen the notable upgrades or the tragic flaws of a home. They also know which homes were foreclosures or short sales. Generally, a foreclosed home is in poor condition. However, a short sale can be in much better condition. Both of these sales are at discounted rates. So, if a comp is used from one of these types of sales, your agent will take careful consideration to evaluate the distinct differences that may increase the value and, ultimately, the listing price on your home.

What is SOPA?! - (GIZMODO.com) - If you hadn't heard of SOPA before, you probably have by now: Some of the internet's most influential sites-Reddit and Wikipedia among them-are going dark to protest the much-maligned anti-piracy bill. But other than being a very bad thing, what is SOPA? And what will it mean for you if it passes?
SOPA is an anti-piracy bill working its way through Congress...
House Judiciary Committee Chair and Texas Republican Lamar Smith, along with 12 co-sponsors, introduced the Stop Online Piracy Act on October 26th of last year. Debate on H.R. 3261, as it's formally known, has consisted of one hearing on November 16th and a "mark-up period" on December 15th, which was designed to make the bill more agreeable to both parties. Its counterpart in the Senate is the Protect IP Act (S. 968). Also known by its cuter-but-still-deadly name: PIPA. There will likely be a vote on PIPA next Wednesday; SOPA discussions had been placed on hold but will resume in February of this year.
...that would grant content creators extraordinary power over the internet...
The beating heart of SOPA is the ability of intellectual property owners (read: movie studios and record labels) to effectively pull the plug on foreign sites against whom they have a copyright claim. If Warner Bros., for example, says that a site in Italy is torrenting a copy of The Dark Knight, the studio could demand that Google remove that site from its search results, that PayPal no longer accept payments to or from that site, that ad services pull all ads and finances from it, and-most dangerously-that the site's ISP prevent people from even going there.
...which would go almost comedically unchecked...
Perhaps the most galling thing about SOPA in its original construction is that it let IP owners take these actions without a single court appearance or judicial sign-off. All it required was a single letter claiming a "good faith belief" that the target site has infringed on its content. Once Google or PayPal or whoever received the quarantine notice, they would have five days to either abide or to challenge the claim in court. Rights holders still have the power to request that kind of blockade, but in the most recent version of the bill the five day window has softened, and companies now would need the court's permission.
The language in SOPA implies that it's aimed squarely at foreign offenders; that's why it focuses on cutting off sources of funding and traffic (generally US-based) rather than directly attacking a targeted site (which is outside of US legal jurisdiction) directly. But that's just part of it.
...to the point of potentially creating an "Internet Blacklist"...
Here's the other thing: Payment processors or content providers like Visa or YouTube don't even need a letter to shut off a site's resources. The bill's "vigilante" provision gives broad immunity to any provider who proactively shutters sites it considers to be infringers. Which means the MPAA just needs to publicize one list of infringing sites to get those sites blacklisted from the internet.
Potential for abuse is rampant. As Public Knowledge points out, Google could easily take it upon itself to delist every viral video site on the internet with a "good faith belief" that they're hosting copyrighted material. Leaving YouTube as the only major video portal. Comcast (an ISP) owns NBC (a content provider). Think they might have an interest in shuttering some rival domains? Under SOPA, they can do it without even asking for permission.
...while exacting a huge cost from nearly every site you use daily...
And there's more...
(For more extensive information, please search the internet or go to: http://gizmodo.com)/5877000/what-is-sopa)

Feng Shui Your House! - (RealtyTimes) - The ancient Chinese practice of Feng Shui has gained in popularity in the West in recent decades. Many homeowners seek out the wisdom of its teachings in order to create balance and harmony in their homes.
Feng Shui is about taking control of how our environment affects us. Different objects, arrangements of these objects, and even colors make all the difference for receiving positive energy.
The first word you should associate yourself with is Qi (pronounced chee). This is another word for life energy.
Homes are divided into nine sections where this Qi flows. Start by mentally standing at your front door and then visualizing a 3 by 3 grid laying over the whole of the house.
The top layer of the grid from upper left to upper right is as follows: Wealth and Prosperity, Fame and Recognition, Marriage and Relationships.
The middle layer of the grid from left to right is as follows: Health and Family, Life Force, Children and Creativity.
Finally, the lower level of the grid from bottom left to bottom right is: Knowledge and Self-Cultivation, Life Purpose and Career, Helpful People and Travel.
If you feel your life is lacking in one of these areas or needs some help, then be sure to pay careful attention to these particular zones.
If your bathroom is in your wealth corner, for example, then be sure you're not "flushing away" opportunity. To balance this affect you can introduce eight stalks of bamboo to foster wealth and abundance and always keep the toilet seat closed!
Your kitchen is an integral part of your home. Consider what colors you use since they have strong affects on Qi.
In kitchens you should refrain from using red, black, or green as your dominate color. Instead choose shades of yellow, which is said to aid digestion. Kitchens are the source of our literal nourishment as people, so its doubly important that this room be well-balanced. Does your stove face you towards a wall? Consider hanging a mirror behind the stove so that you can see behind you.
Finally, to bring in extra life to this important room, introduce bowls of fresh fruit or some flowering houseplants.
Another important room is the bedroom. This is not a room to house a TV or exercise equipment, instead make it a relaxing and inviting space. Choose appropriate lighting for this space, such as lights on a dimmer or candles and pick soothing earthy colors such as beige or taupe.
Feng shui is a complicated study that includes many more intricacies that were discussed here. If you are interested in creating more balance in your home be sure to extend your study by checking out books and informative websites. Your home will thank you!

SAVE ON YOUR HEATING BILL! - (HouseMaster) - With ever-rising energy costs, it makes sound economic sense to review the following points to determine where you can cut energy consumption for your home.
• Check your home for air leaks. You may be able to save 10 percent or more on your energy bill by reducing the air leaks in your home. On a windy day, carefully run a lighter or smoke stick around windows and door joints, and at electrical outlets and light fixtures. If the flame or smoke is drawn toward or forced away from the object, you have found an air leak that may need caulking, sealing, or weather-stripping.
• Maintain your heating and cooling system. The energy used to heat or air condition a house can account for more than half of the average family's energy bill. Make sure your heating and cooling systems receive professional maintenance each year. If it is time for a new system, consider that the savings benefit for installing a new higher efficiency system can often be recouped in several years. Installing a heat pump may trim the amount of electricity used for heating and cooling by 30 to 40 percent in some climates.
• Close fireplace dampers when not in use. A chimney is designed specifically for smoke to escape, so until you close it, warm air escapes, too - 24 hours a day!
• Use kitchen, bath, and other ventilating fans wisely. In just one hour, these fans can pull out a houseful of warmed air. Turn fans off as soon as they have done the job.
• Adjust drapes or blinds on your south facing windows during the day in the winter to allow sunlight in to help naturally heat your home, and close them at night to reduce the chill you may feel from cold windows. In the summer, use drapes or blinds to reduce solar heat gain during the day.
• Turn off energy users when not in use. Individually, a small household appliance does not use much energy; but add up all the devices in the typical modern home, you will see that getting all family members to develop the habit of regularly turning off unused devices can have a noticeable effect on energy costs.

AGAIN, THANK A VETERAN & THEIR FAMILY FOR THEIR SERVICE & THEIR SACRIFICE!



01/13/2012 - Mortgage Rates Continue Trend of Record-Breaking Lows! - (RealtyTimes) In Freddie Mac's results of its Primary Mortgage Market Survey®, it showed mortgage rates easing to new all-time record lows for all products covered in the survey helping to keep homebuyer affordability high. The average for the 30-year fixed mortgage rate has been below 4.00 percent for six consecutive weeks.
15-year FRM this week averaged 3.30 percent with an average 0.8 point, down from last week when it averaged 3.31 percent. A year ago at this time, the 15-year FRM averaged 3.57 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.98 percent this week, with an average 0.6 point, up from last week when it averaged 2.96 percent. A year ago, the 5-year ARM averaged 3.25 percent.
• 30-year fixed-rate mortgage (FRM) averaged 3.89 percent with an average 0.7 point for the week ending January 12, 2012, down from last week when it averaged 3.91 percent. Last year at this time, the 30-year FRM averaged 4.71 percent.
• 15-year FRM this week averaged 3.16 percent with an average 0.8 point, down from last week when it averaged 3.23 percent. A year ago at this time, the 15-year FRM averaged 4.08 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82 percent this week, with an average 0.7 point, down from last week when it averaged 2.86 percent. A year ago, the 5-year ARM averaged 3.72 percent.
• 1-year Treasury-indexed ARM averaged 2.76 percent this week with an average 0.6 point, down from last week when it averaged 2.80 percent. At this time last year, the 1-year ARM averaged 3.23 percent.
According to Frank Nothaft

Help is Coming in March For Underwater Homeowners! - (AZCentral.com) A long-awaited federal program will soon allow more Phoenix-area homeowners to refinance their mortgages and lower their payments in spite of owing far more than their homes are now worth.
The expansion of the Home Affordable Refinancing Plan will allow for new home loans in March, according to new details from the U.S. Department of Housing and Urban Development, and homeowners are already lining up to apply.
President Barack Obama announced the plan in October, and borrowers have awaited the details since.
The program targets homeowners who bought during the housing boom and have been unable to refinance up until now because their homes are no longer worth enough to secure a new mortgage through traditional refinancing.
An earlier version of HARP allowed homeowners with mortgages backed by two federal loan agencies to refinance, but only if their new loans were no more than 125 percent of their home's current value. In metro Phoenix, where values have plunged by more than half since the market's peak in 2006, that limit left many borrowers out.
The update to the program, which lenders refer to as HARP 2.0, lifts that loan-to-value restriction completely.
The goal is to help homeowners save money and fend off foreclosures by lowering payments.
For a typical $250,000 mortgage, a switch from a 6 percent rate to current rates of about 4 percent would cut the monthly payment by about $300.
Matt Oliver of Peoria-based Lund Mortgage said despite the delay, some bigger banks have already refinanced borrowers deeply underwater and are now holding the loans, waiting to turn them over to the federal mortgage agencies Fannie Mae and Freddie Mac.
Albert Hasson was able to get his bank, Flagstar, to approve a refinance on his Phoenix-area home in late December even though the refinancing program was stalled at the time.
"The expanded HARP program is only semistalled," Hasson said.
He said other homeowners should call their servicers now to see if they can be approved early.
To qualify
The expanded refinancing program is available only to those with mortgages backed by Fannie Mae and Freddie Mac, but the two entities back more than half of all mortgages.
Eligible homeowners can have missed only one payment in the past year and must still bring in enough monthly income to afford their lower payment.
Some borrowers will be required to show proof they have the income to pay the lower mortgage payments, but the guidelines aren't clear on who will be required to do this.
HUD Secretary Shaun Donovan told The Arizona Republic in October that part of the goal of expanding the refinancing program is to reward homeowners who have continued to pay their mortgages despite huge drops in their home's values and potentially prevent more homeowners from walking away. Estimates show nearly half of Arizona's mortgage holders are underwater.
The previous HARP plan, which allowed homeowners to refinance if their loan-to-value ratio was 125 percent or lower, had the same intent. But it helped few metro Phoenix homeowners because home values in the region have plummeted 60 percent during the crash.
While the program will be expanded, some borrowers aren't eligible.
Kim Baker has been in her Phoenix home for more than five years and owes at least 40 percent more on her mortgage than what her house is worth. She can't refinance to reduce her 6.5 percent interest rate because her loan isn't backed by Fannie or Freddie. She wants the federal government to give lenders an incentive to help homeowners like her, too.
"Otherwise, we're stuck," she said. "Can't sell, can't re-fi, can't lower our payment, can't move to a cheaper house down the street. We didn't want to walk away or foreclose. So we keep paying every month hoping the economy turns around and maybe in several years we'll break even."
New guidelines
Much of the delay introducing the expanded refinancing program has been because of slow negotiations with lenders, and it is still not clear if the nation's biggest banks will participate, market watchers say.
The government struggled to get big lenders to cooperate with another program, a loan-modification plan that would reduce payments for struggling homeowners.
It's likely to take lenders a few months to implement the expanded refinancing program, so it may not be clear until summer whether the program will be more successful.
Government officials say it has taken longer than expected to work out details with lenders on the expanded refinancing plan. The federal government has several hurdles to overcome with lenders and the mortgage market to make the new program work.
Currently, most loans are bundled together as securities and resold to investors, who make money off homeowner interest payments.
But the market doesn't currently deal with loans that are intentionally issued on homes that are worth less than the amount of the loan. It's not clear yet whether the federal government will create new securities to sell to investors or add a portfolio to hold the loans in.
The federal government also has to negotiate with lenders holding second mortgages on a home so they won't stall or stop the new refinancing program. Under the program, those lenders can get a small settlement when the loan is refinanced.
The expanded HARP program also now is open to investor-owned properties.
Homeowners can check to see if their loan is backed by Fannie or Freddie at makinghomeaffordable.gov.
Jay Luber, president of Galaxy Lending, said it appears the new HARP will reduce rates, fees and the terms of a loan, ultimately providing a more affordable and less risky mortgage.

US foreclosure rate lowest since pre-recession! - (AZCentral.com) NEW YORK -- About 1.9 million homes entered the foreclosure process in 2011, the lowest level since 2007 when the recession began, according to a report Thursday by the foreclosure listing firm RealtyTrac Inc.
The firm cautioned that the decline does not necessarily indicate that the housing market is getting better, as many foreclosures have been delayed due to confusion over documentation and legal issues involved in the process.
There have also been problems with the way some lenders were handling foreclosures. Specifically, signing off on home foreclosures without first verifying documents -- a practice referred to as "robo-signing." Many of the largest U.S. banks reacted by temporarily ceasing all foreclosures, re-filing previously filed foreclosure cases and revisiting pending cases to prevent errors.
"Foreclosures were in full delay mode in 2011, resulting in a dramatic drop in foreclosure activity for the year," RealtyTrac CEO Brandon Moore said in a statement.
The listing firm anticipates that 2012's foreclosure rate will be higher than last year's, but will remain below the peak of 2010.
High unemployment, a sluggish housing market and falling home values remain major factors in homeowners falling behind on their mortgage payments. Many borrowers also have simply stopped paying their mortgage because they owe more on the mortgage than the home is worth.
RealtyTrac said that 2011's foreclosure activity is 34 percent lower than 2010 and the lowest since 2007. The Great Recession began in December 2007 and ended in June 2009.
In 2011, Nevada, Arizona and California were among those with the most foreclosures. Other states among those with the highest foreclosure rates for the year were Georgia, Michigan, Florida, Illinois, Colorado and Idaho.
The company said that December's foreclosure filings on 205,024 homes were the lowest monthly total since November 2007. The figure was also 20 percent below the prior-year period's results.
In the fourth quarter, there were foreclosure filings for 586,133 homes in the U.S., down 27 percent from a year earlier.

Home Maintenance Tip - Dishwashers! - (Old Republic Home Protection) Most of the energy used by a dishwasher is for heating water. The Energy Guide label attached to new dishwashers estimates the annual power needed to run the appliance and heat the water based on natural gas and electricity costs.
Dishwasher Tips
• Check the manual that came with your dishwasher for the manufacturer's recommendations on water temperature; many have internal heating elements that allow you to set the water heater in your home to a lower temperature (120°F).
• Scrape, don't rinse, large food pieces and bones from dishes. Soaking or prewashing is generally only recommended in cases of burned-on or dried-on food.
• Be sure your dishwasher is full, but not overloaded, when you run it.
• Avoid using the "rinse & hold" on your machine for just a few soiled dishes. It uses 3 to 7 gallons of hot water for each load.
• Let your dishes air dry; if you don't have an automatic air-dry switch, turn the control knob to "off" after the final rinse and prop the door open slightly so the dishes will dry faster.
Long-Term Savings Tip
• When shopping for a new dishwasher, look for the ENERGY STAR label to find a dishwasher that uses less water and 41% less energy than required by federal standards.

3 Predictions for Distressed Properties in 2012! - (Daily Real Estate News) It's hard to know exactly what will happen with foreclosures, REOs, and short sales in the coming year. Factors such as employment, home values, and consumer confidence will determine whether they go up or down. The one thing that's certain is that they'll still be around and affecting the housing market.
"Foreclosures aren't going away right now," says Andy Firoved, CEO of CounselorDirect, a technology company that specializes in automating processes for various government foreclosure-prevention programs. "We're going to have a certain level. The question is, how many?"
Apart from quantity, there are certain things regarding distressed properties that can be predicted with some level of assurance, says Firoved, whose clients include housing departments in states with the highest unemployment and biggest declines in home values - the so-called "Hardest Hit." Here are three of his prognostications for 2012:
Prediction #1: Government home owner assistance programs will get more effective.
Most of the government's initial efforts at helping home owners who were threatened with foreclosure due to problems like job loss or medical expenses came up short. This was primarily due to a combination of poor promotion of the programs and arcane, overly bureaucratic processes.
Firoved says the underlying issue here was that federal and state governments were in too much of a rush to roll out these programs. "People came in with the best intentions, but had problems with the execution," he adds.
However, newer initiatives, such as the "Hardest Hit" mortgage assistance programs and the revamped Home Affordable Refinance Program (HARP), will likely get more traction because they're better publicized and administered.
"The word is getting out, and people are starting to get assistance," Firoved says. "These programs are starting to find higher-level efficiencies as well."
Prediction #2: The amount of evictions will stay the same or even go down.
While the number of evictions that have taken place over the past couple of years seems high compared with healthier economic times, they actually aren't as high as they could be. "The majority of [delinquent and foreclosed-on borrowers] have not been evicted," Firoved says.
Why? For one thing, banks are hesitant to pursue foreclosures because of the robo-signing issue, which still hasn't been settled. Also, evictions are labor-intensive and involve some thorny legal procedures, Firoved explains. Many banks simply don't have the will or the resources right now to evict all of those borrowers. "The problem is that there are a lot of people out there who haven't paid their mortgage in a while, and they have gotten used to it," he says.
Although "the party's got to stop at some point," Firoved is guessing it'll keep going, for the most part, through 2012.
Prediction #3: Banks will get creative in dealing with REOs and delinquent home owners.
That's not to say that lending institutions will remain passive this year. "In 2012, the theme is going to be managing the shadow inventory," Firoved says. "That's going to be two different things: REOs and delinquent home owners who they haven't done anything with yet."
According to him, banks will accomplish this by working out special deals, such as leasing foreclosed and bank-owned homes to their former owners. They may even allow foreclosed-on and delinquent borrowers to continue living in homes without making any payments - at least in the short term -because they want properties maintained for eventual resale, Firoved says.

» » THANK A VETERAN FOR HIS OR HER SERVICE! » ...Especially knowing that many of them have been away from their families throughout the past Holiday Season, and much more!



01/06/2012 - 30-Year Fixed-Rate Mortgage Matches All-time Record Low! - (RealtyTimes) In Freddie Mac's results of its Primary Mortgage Market Survey® the average fixed mortgage rates starting the year at or near their all-time lows. The 30-year fixed averaged 3.91 percent matching its all-time record low amid recent data showing signs of improvement in the housing market and manufacturing industry. This marks the fifth consecutive week the 30-year fixed has averaged below 4.00 percent.
• 30-year fixed-rate mortgage (FRM) averaged 3.91 percent with an average 0.8 point for the week ending January 5, 2012, down from last week when it averaged 3.95 percent. Last year at this time, the 30-year FRM averaged 4.77 percent.
• 15-year FRM this week averaged 3.23 percent with an average 0.8 point, down from last week when it averaged 3.24 percent. A year ago at this time, the 15-year FRM averaged 4.13 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.86 percent this week, with an average 0.7 point, down from last week when it averaged 2.88 percent. A year ago, the 5-year ARM averaged 3.75 percent.
• 1-year Treasury-indexed ARM averaged 2.80 percent this week with an average 0.6 point, up from last week when it averaged 2.78 percent. At this time last year, the 1-year ARM averaged 3.24 percent. According to Frank Nothaft, vice president and chief economist, Freddie Mac:
"Fixed mortgage rates started the year a little lower this week just as recent data reports indicate the housing market and manufacturing industry are showing signs of improvement. Pending existing home sales in November jumped 7.3 percent, nearly five times greater than the market consensus forecast, to its strongest pace since April 2010. In addition, construction spending rose 1.2 percent in November, supported by the residential sector which exhibited its fourth consecutive monthly increase. Similarly, manufacturing expanded in December at the fastest pace in six months."

FHA Says: Flip That House! - NEW YORK (CNNMoney) -- Flippers, the real estate investors who buy homes on the cheap and quickly resell them at a profit, just got a reprieve from the Federal Housing Administration.
In an effort to help stabilize housing prices and unload some of the foreclosures that are flooding low-income communities, the mortgage insurer extended a waiver of its anti-flipping regulations through 2012.
The waiver, which was initially issued in 2010 and set to expire this month, suspends regulations that prohibit the agency from insuring mortgages used to purchase homes that are bought and resold in less than 90 days.
"This extension is intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment and blight," said Acting Federal Housing Administration Commissioner Carol Galante.
Low-income neighborhoods are particularly plagued by foreclosed homes that lower property values and act as magnets for crime and other social ills. Real estate flippers often rehab these damaged homes before reselling them, improving conditions for neighborhoods.
The FHA, which does not issue mortgages but insures them, is a primary player when it comes to mortgage lending in low-income communities. Many loans in these communities could not be issued without FHA backing.
The ban against flipping was initially put in place to prevent predatory flipping, in which homes are quickly resold at inflated prices to unsuspecting borrowers.
In order to qualify for the waiver, certain conditions must be met. The transaction must be "arms length" with no other relationship between seller and buyer.
Home price forecasts: Your local market tracked
In addition, if the new sale price is 20% or more above the previous selling price, the lender has to document and justify the increase and meet other conditions, such as making sure the home has been inspected.
Since the waiver went into effect in February of 2010, the FHA has insured more than 42,000 loans to purchase homes that were being resold within 90 days. These totaled more than $7 billion in mortgage principal.

Fed Advocates REO Rental Program! - (Daily Real Estate News) The Federal Reserve called on lawmakers to do more to help the ailing housing market, which has been blamed for dragging down economic recovery. In a 26-page white paper, the Fed told lawmakers that more aggressive action is needed in preventing home values from falling further and handling the large supply of foreclosures that continue to plague many markets.
One program the white paper suggested was a government program to start renting out single-family homes in foreclosure, even allowing the former owners who were foreclosed upon to rent the properties back.
An REO rental program by the government-sponsored enterprises may cost mortgage servicers and bond investors, but the benefit of such a program in the long run needs to be weighed, the Fed said. "Some actions that cause greater losses to be sustained by the GSE in the near term might be in the interest of taxpayers to pursue if those actions result in a quicker and more vigorous economic recovery," according to white paper.
Moreover, renting out some of Fannie Mae's REO inventory, for example, might "deliver a better loss recovery than selling the property," the white paper states.
The Fed also warns in the white paper to lawmakers that the "extraordinarily tight" mortgage lending standards is also harming the real estate market and keeping many from home ownership.
Without more action by the government to help housing, the Fed warns that "the adjustment process will take longer and incur more deadweight losses, pushing house prices lower and thereby prolonging the downward pressure on the wealth of current home owners and the resultant drag on the economy at large."

3 Steps to Surviving a Financial Setback! - (Daily Real Estate News by inmanNews) Few things in life signify a fresh start like New Year's. At the risk of stating the obvious, the concept of a fresh start is the most appealing to those who need it. It's only when you've been struggling, floundering or have been through some trials and tribulations that you even need to start over.
And trials and tribulations are precisely what many of us have been through over the last few years, when it comes to our personal finances.
If you've lost a job, lost a home or simply lost a lot of equity in your home or in the stock market, the latest entry to The Wall Street Journal's Guide series might be just what the doctor ordered to help you reboot your money matters this year.
In "The Wall Street Journal Guide to Starting Fresh: How to Leave Financial Hardships Behind and Take Control of Your Financial Life," Wall Street Journal columnist Karen Blumenthal takes an understanding -- and understandable -- approach to tackling the daunting exercise of financial rehab.
This book is not about fancy tricks or secrets; rather, its power lies in the simple, systematic and comprehensive approach it presents, and in its offering of customized perscriptions for special situations (i.e., recently divorced or widowed, recent health disaster, etc.) without overly complicating the book for everyone else.
Blumenthal starts out walking readers through the exercise of conducting an inventory of their life priorities, assets and liabilities, and creating a basic foundation of daily stability (i.e., functional home, transportation, emergency funds, etc.) from which a deeper financial recovery effort can be launched.
This book represents a step-by-step approach to getting your finances under control, resetting your daily finances to align with your new reality, and getting your financial goals and aims back on track. Here are three steps Blumenthal provides for starting fresh, after experiencing money trauma:
1. Build your "trust team." Blumenthal recommends interviewing and seeking advice on your financial plan from a trustworthy financial adviser, attorney and tax preparer.
In addition to providing interview questions for these folks, she also recommends avoiding debt settlement firms (most cannot do anything you can't do for yourself) and accessing low- or no-cost resources like nonprofit credit counselors, the IRS' Volunteer Income Tax Assistance program and even support groups.
It might seem unrealistic to pay for advice if cash flow is tight, but I've seen many strapped households make costly errors as a result of doing some things on their own. Especially if you're considering a short sale or walking away from your home, it behooves you to consult with a local attorney and tax preparer first; I would personally add a local agent and mortgage broker to the list.
2. Adapt to your new reality. Have you ever known someone who's fallen on hard times, but can't seem to give up the creature comforts of his or her former life? Blumenthal reality-checks such readers, exhorting them to recalibrate their monthly budget and expenses in line with their new situation.
From deciding whether to move or stay in your home, whether and how to seek a loan modification, and making necessary alterations to plans around college and car expenses, Blumenthal walks readers through the big decisions and changes they must consider to press the financial reset button.
3. Invest for your future. When we encounter financial hard times, it's easy to get stuck in survival mode, and continually postpone turning our attentions back to our future financial plans. Blumenthal tries to snap readers out of this, reminding them to shift their viewpoints from right now to the future, and to re-up their focus on investing, saving and insuring.
As she provides resources for configuring a new financial plan, Blumenthal provides some very user-friendly tools for necessary need-to-knows around reading and understanding stock market information.
To be sure, this book is a better fit for those who have a job and can pay their monthly living expenses, but are seeking to reconfigure their savings, investment and housing strategies to thrive over the long term in light of recent life and economic changes.
(If you are truly struggling just to make ends meet or have a problem with chronic debt, I would recommend Karen McCall's "Financial Recovery" as a more appropriate starting point; you can circle back to "Fresh" after things have stabilized.)

Real Estate CyberTips! - (RealtyTimes)
TRICK #1 - Track Ships And Boats At Sea
http://shipfinder.co/
With the exception of most military vessels, which are mostly excluded for obvious security reasons, here's an easy way to check a goodly percentage of the ships (and boats) at sea at any particular time.
This intriguing on-line program tracks ocean liners, cargo ships, tankers, freighters, pleasure craft plus many more vessel types. It shows you moving, anchored and docked ships. It gives you detailed ship information including photographs. You are privy to detailed voyage information - including route history, destination and estimated time of arrival at the destination.
You can recreate and plot journeys on dates you select with a feature called "Playback". Using filters you can select only the ship types you wish to track. You can search for specific ships by name and even watch the progress of ships on Google Earth using their "Sail Me" simulator. And they even have a flight simulator showing you just about every flight in the sky -- in real time.
Pretty useful and fun site -- particularly considering it's on the house with no ads.
TRICK #2 - This Butler Will Do Your Computer Tasks
http://www.winparrot.com/
How often do you perform the same task on your computer? Often repetitive tasks involve 4, 6, 8 or more keystrokes. Do you ever find yourself thinking, "There's gotta be a better way?"
These folks have developed an easy to use program that allows you to type the routine once while their software captures all of your keystrokes and repeats them for you anytime you wish -- with a single click.
If you perform repetitive tasks daily on Windows XP, Vista or Windows 7, this gadget will save you a lot of valuable time. You simply start recording. The program generates a file containing all your actions. You can modify the saved document at any time.
It's like having a butler at your beck and call to do many of your computer tasks. And the program is yours for the asking.
GREAT PLACE #1 - Check Out Your User Name In A Second
http://namechk.com/
Ever wondered whether a user name you have rolling around in your head is available?
Just type in the user name you'd like to check and this great place instantly shows you if your desired user name is available at over 80 social networks (just about all of the top social networking websites). By typing your user name into the "chk" search box, it will query all the sites listed and instantly display whether the user name is taken or available.
With links to all of these sites this is also a good way to see what Social Networks you may be missing. This place is neat, fun, useful and free.
GREAT PLACE #2 - Uninstall With Ease
https://sites.google.com/site/leizersoftware/home
We'll bet that you have a few (or many) programs that are clogging up your computer and gathering dust from lack of use. Many folks never get rid of these because it's often too much a hassle to head all the way to the Control panel, locate "Uninstall Programs", wait for the selection page to populate, find the program and execute the uninstall.
The folks at this great place give you a program that adds an "Uninstall" option to the Windows context menu (Drop down) so you can remove programs right from their shortcuts. Simply right click on the program's shortcut and select uninstall from the dropdown menu. It's as easy as that.
And what makes these folks even nicer is they give you this great one trick pony without any cost to you.



»HAPPY NEW YEAR TO YOU AND YOUR FAMILY FROM PAUL & PJ PASTOR

12/30/2011 - (RealtyTimes) Mortgage Rates Finish 2011 Near Historic Lows! - In Freddie Mac's results of its Primary Mortgage Market Survey®, the average fixed mortgage rates finish the year near their all-time historic lows helping to keep homebuyer affordability high. Averaging 3.95 percent, the 30-year fixed has been at or below 4.00 percent for the past nine consecutive weeks and only twice in 2011 did it average above 5.00 percent.
• The 30-year fixed-rate mortgage (FRM) averaged 3.95 percent with an average 0.7 point for the week ending December 29, 2011, up from last week when it averaged 3.91 percent. Last year at this time, the 30-year FRM averaged 4.86 percent.
• The 15-year FRM this week averaged 3.24 percent with an average 0.8 point, up from last week when it averaged 3.21 percent. A year ago at this time, the 15-year FRM averaged 4.20 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.88 percent this week, with an average 0.6 point, up from last week when it averaged 2.85 percent. A year ago, the 5-year ARM averaged 3.77 percent.
• 1-year Treasury-indexed ARM averaged 2.78 percent this week with an average 0.6 point, up from last week when it averaged 2.77 percent. At this time last year, the 1-year ARM averaged 3.26 percent.
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
"Mortgage rates ended the year hovering near historic lows in an already affordable housing market. For instance, the seasonally-adjusted S&P/Case-Shiller® 20-City Composite home price index in October was the lowest seen since March 2003. The largest hit areas were Las Vegas with the lowest reading since January 1997 and Atlanta, which was since June 1998. It's not surprising then that over 5 percent of households in December plan to purchase a home over the next six months, the highest share since May, according to The Conference Board."

Keeping New Year's Resolutions! - (RealtyTimes) Have you made a new year's resolution? If you've tried to keep up with a resolution the whole year through, you already know how difficult it can be to stick to your guns.
We can become easily distracted by day-to-day activities or simply fall victim to old habits and routines.
Making a new year's resolution is about just that. It's about breaking old habits and retraining or reprogramming the way you live or approach your life.
1.Post It: We have a way of thinking of a grand idea and then forgetting it. If you make a chart, graph, or simple journal entry detailing what you want to accomplish, you are more likely to keep at it. Hang a post-it note on your mirror or a note on the fridge as a daily reminder!
2.Get a Buddy:
3.Keep a Journal:
4.Be Kind:
5.Set Time Specific Goals:
6.Have Consequences:
Setting a new year's resolution is an admirable task! The new year is a great time to mark a new way of thinking.

3 Do's And Dont's For Losing Weight In The New Year! - (YOLO HEALTH) If you are looking to make weight loss your New Year's resolution, then its highly important to recognize the sneaky habits companies and restaurants have of making something sound healthy which is not. This article exposes the trends from the past year which will make you either fat or skinny. Find out the information you need to stay thin!
FAT TREND #1: Food Companies Labeling Everything "Natural"
A 2011 Rodale study found that 28 percent of Americans purchased more natural foods this year. No wonder producers are slapping the "natural" claim on everything they can. Frito Lay, for instance, slapped "all natural" on half its snacks this year. The problem? There are no regulations on the "natural" claim. Case in point: A 2011 Cornucopia Institute study found pesticides and genetically modified organisms (GMOs) in a variety of "natural" cereals. Another downside of "natural" products: They can lead consumers to ignore nutrition labels. Butter, salt, and lard are natural. So are poison ivy, arsenic, and flash floods. Just because it's natural doesn't mean it's good for you.
FAT TREND #2: Restaurants Sneaking Extra Fat into Their Food
The next time you see "stuffed" on a menu, think "gobs of molten cheese poised to inflate my waistline." Consider these debuts: Domino's Stuffed Cheesy Bread (150 calories per piece), Dunkin' Donuts' Stuffed Breadsticks (200 calories per piece), and Burger King's limited-release Jalapeno & Cheese Stuffed Steakhouse burger (930 calories with a small order of fries). And that's in addition to the 1,510-calorie Provolone-Stuffed Meatballs with Fettuccine that Applebee's released last year! If these things continue to sell, expect to see more imitators in 2012. As a general rule, if you see "stuffed," stay away.
FAT TREND #3: Menus Calling Meals "Snacks"
Since 2007, food items with snack, snackable, or snacker in their names have increased by 170 percent. Your restaurant may call it a "snack," but your dietician would call it "dinner." This year Dunkin' Donuts debuted a menu of snacks that includes a 400-calorie, cheese-flavored Bagel Twist, and McDonald's added the Angus Chipotle BBQ Bacon Snack Wrap. That's a snack with nearly half-day's saturated fat. But snacking done right can be healthy: A recent Nutrition Journal study found that nutritious snacks promote weight loss. The key word here is nutritious. Fruit and nuts are snacks, but a BBQ cheeseburger wrapped up like a burrito? Not so much. Pick anything from our Eat This, Not That! 2012 list of The 50 Best Snack Foods in America.
SKINNY TREND #1: Desserts Being Zapped by the Shrink Ray
Looking forward to an end-of-day treat can help keep you on track the rest of the day, but the 1,000-calorie monstrosities being served at most restaurants completely annul any smart decisions you've made leading up to them. Thankfully, desserts are starting to downsize. Chains like Chili's and Applebee's have been serving "shooters"-shot glass-sized desserts-for a few years now, and 2011 brought a new batch of mini sweets, like Baskin Robbins' Cake Bites and Jack in the Box's Mini Cookies (both of which contain about 300 calories). This is a food trend I'm definitely sweet on.
Eat This in 2012! Starbucks Mini Peanut Butter Cupcake (180 Calories; 10 g fat; 16 g sugar)
SKINNY TREND #2: Food Producers Passing On the Salt
While some restaurants pump more sodium into seemingly healthy foods (see the Chipotle Lime Chicken above), other food retailers are making efforts to meet the rising demand for lower sodium. This year, Subway reduced sodium across its regular menu by 15 percent, and its "Fresh Fit" menu saw an impressive 28 percent reduction. Meanwhile, Wal-Mart pledged to reduce sodium in its processed foods by 25 percent before 2015. The salt-slashing trend bodes well for both your blood pressure and your waistline. Salt itself won't make you fat, but it does make you retain water weight, and most salty foods-chips, Chinese takeout, fast food burgers-are anything but light.
Eat This in 2012! 6-inch Subway Turkey Breast Sub (280 calories; 3.5 g fat; 810 mg sodium)
SKINNY TREND #3: Good-for-You Fast-Food Breakfasts The most important meal of the day has been the most abused for too long (check out fat-loaded, carb-heavy, sugar-packed foods on our list of 18 Worst Breakfasts in America). But lately, breakfast has been the recipient of a much-needed nutritional upgrade. Building on the lean line of breakfast sandwiches Subway unveiled last year, this year saw new oatmeal options from McDonald's and Chick-fil-A, and Denny's unveiled a line of "Fit Fare" breakfast options. A healthy breakfast sets the tone for a healthy day, so this breakfast bump is definitely worth cheering. (We also recommend Cook This, Not That! Easy & Awesome 350-Calorie Meals for quick and delicious breakfasts you can whip up in minutes.)
Eat This in 2012! Chick-fil-A Multigrain Oatmeal with toppings (280 calories; 11 g fat; 21 g sugar)

FHA Extends Anti-Flipping Waiver to Speed Sales! - (Daily Real Estate News) The Federal Housing Administration is extending its "anti-flipping" waiver through the end of 2012, which allows buyers to purchase homes that have already been sold in the last 90 days.
The waiver, which was soon set to expire, is "intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment and blight," Carol J. Galante, the acting Federal Housing Administration commissioner, said in a statement. "FHA remains a critical source of mortgage financing and stability and we must make every effort to promote recovery in every responsible way we can."
An anti-flipping rule originally took effect in 2003 to stop a spike in home flipping that was being blamed on driving up home prices during the housing boom. The rule prevented FHA-backed loans from being used to purchase homes that had been owned by a seller for less than 90 days. But the U.S. Department of Housing and Urban Development decided to reconsider the 90-day limit in 2010 after skyrocketing foreclosures and abandoned homes were causing blight in neighborhoods across the country and hampering nearby property values.
The temporary waiver to the anti-flipping rule will allow buyers and investors to quickly resell refurbished homes and not have to wait 90 days to do so. Since the waiver took place in 2010, FHA has insured nearly 42,000 mortgages worth more than $7 billion on homes resold within 90 days of the last purchase, according to HUD.
"It's certainly an inducement to move real estate and reduce inventories," says Don Cameron, a real estate investor who owns a franchise of We Buy Ugly Houses in South Florida. "Why wait 90 days before you can close on a home?"
The waiver, however, still prevents predatory flipping, and sellers must justify any increases in value if the sales price of the property is 20 percent more than what the seller had recently purchased it for (such as by providing extra documentation on renovation expenses). Sales also must be in "arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction."

What's in Store for Housing in 2012? - (Daily Real Estate News) The worst for the housing market may finally be over, according to housing experts in a recent article in Kiplinger. After median home prices have dropped nearly 40 percent nationwide, a rebound is taking shape -- although, housing experts say, the market may stay flat for awhile before gradually ticking up.
According to housing experts in a recent Kiplinger article, here are some predictions for the real estate market in the coming year:
Home prices stabilize: Mark Zandi, chief economist at Moody's Analytics, predicts that home prices nationwide may still drop another 3 to 5 percent in 2012, but the new year will most likely finally bring a leveling off of home prices before gains start to take shape in 2013. When markets do begin to stabilize in the new year, "price appreciation tends to spread unevenly, creating a lot of confusion about where the recovery is occurring and when," David Stiff, chief economist at Fiserv Case-Shiller, told Kiplinger. "Even within a single city, more desirable neighborhoods will stabilize first, while prices in other neighborhoods may fall at a rapid pace."
Housing affordability high: Housing affordability -- the ratio of median home prices to median family income -- will likely remain at record levels in 2012. Homes in many cities are "substantially undervalued," the Kiplinger article notes. That may even lead to a mini bubble with double-digit spikes in prices, such as an increase of 10 to 15 percent in a given year in some markets, housing experts say.
Low mortgage rates: Helping to keep affordability high, low mortgage rates are expected to continue on in 2012 -- at least the first part of the year, economists predict. The 30-year fixed-rate mortgage, the most popular among home buyers, has been hovering under a 4-percent average the past few weeks, staying in record low territory. Rates are expected to stay between 4 to 5 percent in 2012, predicts Guy Cecala, publisher of Inside Mortgage Finance, an industry publication.
Sales increases: The National Association of REALTORS® has already been showing a tick up in sales taking shape with increases in existing-home sales during the summer and early fall of 2011. High inventories of homes continue to flood the market but a drastic slowdown in new-home building the past three years is "gradually easing the surplus," the Kiplinger article notes.
Foreclosures: Foreclosures remain the problem and still plague many markets. After a slowdown with lenders processing the paperwork, foreclosures have begun to pick up once again. About 1.84 million home loans are 90 days or more delinquent and 2.17 million have finished the foreclosure process but aren't up for sale yet, according to RealtyTrac data. Alex Villacorta, director of research and analytics at Clear Capital, told Kiplinger that he predicts regardless of the downward price pressure caused from foreclosures, overall home prices won't fall as long as lenders bring additional foreclosures to the housing market at a steady pace.



»MERRY CHRISTMAS OR HAPPY HANUKKAH TO YOU AND YOUR LOVED ONES FROM PAUL & PJ PASTOR

12/23/2011 - (RealtyTimes) Record-Breaking Low Mortgage Rates for the Holidays! - In Freddie Mac's results of its Primary Mortgage Market Survey®, the average fixed mortgage rates at or near all-time record lows helping to keep homebuyer affordability high. The 30-year fixed averaged 3.91 percent for the week, a new all-time low, dropping below last week's 3.94 percent, the previous record low. The 15-year fixed matched last week's all-time record low at 3.21 percent. Adjustable rate products also hit new all-time lows in this week's survey.
15-year FRM this week averaged 3.38 percent with an average 0.8 point, up from last week when it averaged 3.37 percent. A year ago at this time, the 15-year FRM averaged 3.64 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.01 percent this week, with an average 0.6 point, down from last week when it also averaged 3.06 percent. A year ago, the 5-year ARM averaged 3.45 percent.
• 30-year fixed-rate mortgage (FRM) averaged 3.91 percent with an average 0.7 point for the week ending December 22, 2011, down from last week when it averaged 3.94 percent. Last year at this time, the 30-year FRM averaged 4.81 percent.
• 15-year FRM this week averaged 3.21 percent with an average 0.8 point, matching last week when it averaged 3.21 percent. A year ago at this time, the 15-year FRM averaged 4.15 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent this week, with an average 0.6 point, down from last week when it averaged 2.86 percent. A year ago, the 5-year ARM averaged 3.75 percent.
• 1-year Treasury-indexed ARM averaged 2.77 percent this week with an average 0.6 point, down from last week when it averaged 2.81 percent. At this time last year, the 1-year ARM averaged 3.40 percent.
Quotes
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
"Rates on 30-year fixed mortgages have been at or below 4 percent for the last eight weeks and now are almost 0.9 percentage points below where they were at the beginning of the year, which means that today's homebuyers are paying over $1,200 less per year on a $200,000 loan. This greater affordability helped push existing home sales higher for the second consecutive month in November to an annualized pace of 4.42 million, the most since January. In addition, new construction of one-family homes also showed a back-to-back monthly gain in November to the largest increase since June. Moreover, homebuilder confidence in December rose to its highest reading since May 2010 according to the NAHB/Wells Fargo Housing Market Index."

Housing Answer: Principal Reduction?! - (RealtyTimes) Despite many programs to help underwater homeowners, the financial crisis continues and foreclosures loom throughout the country.
Some experts say the housing answer is not just lowering interest rates but also actually reducing principal. In other words, these experts are encouraging banks to write down the principal and interest rates to current market value, which according to some experts would save homeowners $71 billion each year. CoreLogic reported that at the end of the second quarter 2011, underwater homeowners owed $709 billion on mortgages (much more than their homes were worth).
Real estate expert, Tanya Marchiol, who has appeared on TV, in print, and on Sirius Satellite Radio, writes in a recently released report, "In 2010 the nation's top banks paid out twice that amount in bonuses and compensation ($146 billion)."
Marchiol claims the savings to homeowners whose mortgages are upside down would create an economic boost to the economy-creating jobs, reducing mortgage payments, helping investors-rather than the negative financial effects which ripple through the economy when a foreclosure occurs.
Marchiol writes that, "investors would typically be better off if servicers would agree to loan modifications with principal reductions rather than letting the home fall into foreclosure."
However, the thought of principal reduction and loan modifications are often scoffed at by big banks. Marchiol claims that's because servicers can actually make more from a property that is foreclosed on by the foreclosure-related fees. She points to the National Consumer Law Center and writes, "A servicer deciding between a foreclosure and a loan modification faces the prospect of near certain loss if the loan is modified and no penalty, but potential profit, if the home is foreclosed." This Marchiol claims is often not in the best interest of the mortgage investor. She explains that when a servicer forecloses on a home, it's the investor who is "saddled with all foreclosure-related costs: legal fees, maintenance costs on the property, sales costs, etc.".
That can be quite costly. The argument Marchiol makes is that it can be cheaper to simply write down principal to the current market value and avoid foreclosure. A win for everyone she explains, and the solution to "solve the housing crisis and jumpstart the economy".
However, quite obviously big banks have not viewed it this way and have resisted principal reduction or loan modifications.
Opponents of principal reduction argue that the main reason it doesn't work is because of what is referred to by economists as asymmetric information, according to information by the Federal Reserve Bank of Atlanta. This basically means that only the borrowers truly know if they will really default on a loan and let it fall into foreclosure. So, this theory speculates that without this information investors who back mortgages are essentially guessing which ones may or may not default and which ones truly need help as opposed to defaulting and trying for help simply because a principal reduction might be available.
The authors, economists, Chris Foote, Kris Gerardi and Paul Willen write on the website, "The argument for principal reduction depends on superhuman levels of foresight among lenders as well as honest behavior by the borrowers who are not in need of assistance. Thus far, the minimal success of broad-based modification programs like HAMP should make us think twice about the validity of these assumptions"
So far, programs like the Principal Reduction Alternative (PRA) have only really helped what would be considered a mere handful (53,000) of fortunate homeowners. Many millions more remain in need. PRA offers incentives to investors to reduce principal on certain mortgages. It's part of the Home Affordable Modification Program (HAMP) but PRA's reach has been limited partly because the program requires that the mortgage not be owned by Fannie Mae or Freddie Mac, which significantly reduces the number of homeowners who can qualify.
PRA launched in October of 2010 and requires that mortgage servicers evaluate homeowners for a possible principal reduction when they apply for a HAMP loan modification, (provided they do not have a Fannie Mae or Freddie Mac mortgage) and have a loan-to-value ratio greater than 115 percent. The investor who holds the mortgage must approve the principal reduction. Homeowners who are approved will earn one-third of the total reduction over a period of three years, provided they stay current on their mortgage.
Marchiol sums it up, "The American economy is chained to the crushing housing debt load. Chronic unemployment, foreclosures, and small business closings can all ultimately be traced back to the housing crisis."
She claims principal reduction is the answer to the housing crisis. "Now it is the banks' turn. Principal reduction will restore the American Dream, create jobs, and give the American family the ability to breathe again."


Is Your Boss a Good Elf or a Bad Santa? - (MoneyTalksNews) - A new survey compares your boss to famous Christmas movie characters. How does your employer rate?
Just in time for Christmas, the jobs website Careerbuilder has released a survey of 4,500 employees around the country - asking them "which holiday movie legend most reminded them of their bosses." Perhaps surprisingly, there were a lot more good bosses than Bad Santas.
Here are the top 10, in order of their popularity...
1.George Bailey from It's a Wonderful Life - 19 percent say their boss is "well-liked, always willing to help others."
2.Rudolph from Rudolph the Red-Nosed Reindeer - 14 percent say their boss "can navigate successfully through tough situations."
3.Willie, the main character from Bad Santa - 10 percent say their boss is "rough around the edges but not a bad person deep down."
4.Ralphie from A Christmas Story - 8 percent say their boss "stays focused on one goal and thinks about nothing else."
5.Kevin from Home Alone - 8 percent say their boss is "very resourceful and independent."
6.Ralphie's father from A Christmas Story - 8 percent say their boss is "old school, swears a lot when things don't go as planned."
7.The Grinch from How the Grinch Stole Christmas - 7 percent say their boss "keeps a distance from others, but longs to be a part of the group."
8.Clark Griswald from National Lampoon's Christmas Vacation - 7 percent say their boss is "likable but nothing seems to go right for him or her."
9.Santa from Miracle on 34th Street - 6 percent say their boss is "jolly no matter the circumstance."
10.Buddy from Elf - 5 percent say their boss is "naive and easily awed."

Keep Mice Away in Winter! - (The Money Pit) I've got a Simple Solution To That Problem That Not Only works Good But Also Brings More Love Into the House. Get A Cat. Ever Since We've Had Our Cat, If He even Thinks He Hears Something That Shouldn't Be In The House He Goes On the Hunt. Everything From Fly's To Moths To Of Course His Favorite Live Toy---Mice. Of course We Usually Get It Before He's Done Playing With It. And He Is Also So Love-able And Affectionate.

Housing market is picking up a little! - (KTAR.com) In 2011, there has been an unprecedented rise in the number of leases that are happening each month, according to the housing experts.
Numbers released in December's Rent Check, a monthly publication that looks at the Valley's residential single family leasing market, show the average number of leased units per year has increased sixfold over the past ten years.
In November of 2001, 456 single family units were leased. In November of 2011, 2,888 single family units were leased. Numbers for December 2011 have not been reported yet.
According to Chris Hagerty of Arizona Regional Multiple Listing Service, the market is red hot and she sees it as a good thing.
"When people are pushed out of their home through foreclosure, they've got to rent something. And then the foreclosures turn into rental units and so the rise in the number of rental units is a good thing because those foreclosures, that glut of foreclosures is being eaten up and then people who've lost their homes have places to go to," said Hagerty.
Another bright spot in the glib housing market, the number of distressed properties is on the decline. Hagerty said that the number of distressed properties in February accounted for 71% of sales, but in November that number dropped below 60%, which is the lowest it has been in a long time.

7 Habits of Highly Frugal People! - (MoneyTalksNews) Want to change your finances? Change your habits. Here are tips that can make you richer.
If you want to make minor, incremental changes and improvements, work on practices, behavior or attitude. But if you want to make significant, quantum improvement, work on paradigms.
Here are some habits of highly frugal people...
1. They save dollars by saving pennies
Frugal people know that frugality applies to both big and small issues. Frugal people are able to enjoy a $10 restaurant lunch occasionally but are fully aware that a daily routine of that same lunch amounts to nearly $4,000 a year.
So they organize potlucks instead of meals out. They do simple, small things - like use a tea bag more than once, empty and reuse a vacuum cleaner bag, and clip coupons to save a buck on a jar of peanut butter. However, they also save in much larger ways - like trading in their minivan or SUV (sport utility vehicle) for a more economical vehicle.
2. They're deliberate about making decisions
Frugal people have a good sense of perspective and are able to see the big picture. They don't always choose the cheaper option simply because it appears less expensive. They take their time and explore many options before making a decision. They plan and are generally well organized. Frugal people typically don't seek immediate gratification. And they try to go green whenever possible.
3. They're good managers of both time and money
Frugal people organize their errands for optimal efficiency. They place value on their time - they know how to recognize when saving money just isn't worth the time. They know better than to drive across town to save a quarter on a gallon of milk. They're disciplined and work before play. Frugal people know that how wealthy you are isn't about your income but rather about how you use your financial and intangible resources.
4. Frugal people embrace a do-it-yourself lifestyle
Fugal people anticipate and perform maintenance and repairs without procrastination. Before hiring a professional for doing household repairs, a frugal person researches on the Internet and confers with an expert at their local home-improvement center to determine if a repair person even needs to be called. Frugal people have made an investment in owning high-quality tools to tackle most simple repairs at home. They also barter with friends and neighbors to get the job done.
5. Frugal people see opportunities where others don't
Frugal people are intuitive and trust their gut feeling when an opportunity presents itself. School supplies at an April rummage sale or a pile of free firewood on a nearby parkway are true finds for the frugal person, requiring little speculation.
Frugal people are contrarians who don't go along with the crowd for the purpose of conformity - they're not mainstream shoppers. They don't own the newest and fastest electronic gadgets that everyone else is purchasing. Instead, they have adopted the Rule of One: owning no more than one of anything non-essential, including televisions, cell phones, computers, electronics, and cars.
6. Frugal people find new uses for old items
A container of brown shoe polish doubles as a quick fix for blemishes on woodwork in the house or furniture. Steel wool plugs holes to keep away household pests. Frugal people find free pallets from local stores and use them creatively in the backyard, garage, and basement, such as for storage. Frugal people devise uses for duct tape that you'd never imagine. To be frugal means to be creative.
7. Frugal people are proud of their frugal lifestyle
Frugal people have transformed their home into a haven where they can have fun while saving money. They've devised creative ways for their family to reduce house, food, transportation, insurance, entertainment, utilities, and other costs. They have turned household tasks into fun family activities, such as gardening or bicycling as a mode of in-town travel.
Frugal people reuse, recycle, barter, and share, and use the library for books and other materials. They don't need to purchase items such as DVDs, clothes, tools, and yard equipment. Frugal people raise money-savvy kids who learn to respect money and material objects. And they are always open to the possibility of discovering new ways to be a more frugal person.
Can you rework your own paradigm, to become a more frugal person?



HAPPY BIRTHDAY PJ! ...It's the Big One! We all love you!

12/16/2011 - 30-Year Fixed-Rate Mortgage Matches All-Time Record Low at 3.94 Percent! - (RealtyTimes) In Freddie Mac's results of its Primary Mortgage Market Survey® (PMMS®), the average fixed mortgage rates are at or near their all-time lows. The 30-year fixed matched the average all-time record low of 3.94 percent, and a new all-time record low was set for the 15-year fixed, both previously set in the October 6, 2011 Freddie Mac PMMS. The 5-year ARM also set a new all-time record low at 2.86 percent for the week.
• 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.8 point for the week ending December 15, 2011, down from last week when it averaged 3.99 percent. Last year at this time, the 30-year FRM averaged 4.83 percent.
• 15-year FRM this week averaged 3.21 percent with an average 0.8 point, down from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 4.17 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.86 percent this week, with an average 0.6 point, down from last week when it averaged 2.93 percent. A year ago, the 5-year ARM averaged 3.77 percent.
• 1-year Treasury-indexed ARM averaged 2.81 percent this week with an average 0.6 point, up from last week when it averaged 2.80 percent. At this time last year, the 1-year ARM averaged 3.35 percent.
Quotes attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.
"Mortgage rates were at or near all-time record lows this week amid a rough environment for housing. In its December 13th monetary policy announcement, the Federal Reserve reiterated the housing market remains depressed. Over the first nine months of 2011, households lost almost $400 billion in property values which contributed to a $1.4 trillion reduction in overall net worth. In addition, serious delinquency rates (90 or more days delinquent plus foreclosures) on mortgages increased slightly between June 30 and September 30 of the year, breaking a six-quarter consecutive decline, according to the Mortgage Bankers Association."

A Bit of Good Real Estate News?! - (RealtyTimes) As the year winds down, Zillow Real Estate Market Reports releases some optimistic news. While U.S. home values continue to drop, the year-over-year basis represents a 5.1 percent decline, "the rate of monthly depreciation has stabilized around -0.2 percent to -0.3 percent over the last few months," reports Zillow.
This is a bit of encouragement and an improvement compared to last year when the figure was more than 0.8 percent monthly depreciation.
Depreciation in home value reflects an abundance of supply, a lack of buying power due to loss of employment, stricter loan requirements, and buyer fear.
But Zillow remains positive and encouraged by the "working down" unemployment figures, even if the decrease is slow. The figure, U-6, measures those who are unemployed and seeking full-time employment as well as those who are marginally attached workers and others who are working part-time for various economic reasons.
In the report, Zillow covers 156 metropolitan statistical areas. A whopping 95 showed monthly home value depreciation while 39 metros actually registered increases in monthly home value during October. Another 22 showed no change. Those that saw home value monthly increases were Phoenix, Arizona and Detroit, Michigan.
These cities saw home value appreciation on an annualized basis as well as monthly appreciation: Fort Collins, Colorado; Honolulu, Hawaii; Madison, Wisconsin; Lincoln, Nebraska; Oklahoma City, Oklahoma; Fort Myers, Florida and Tulsa (Oklahoma).
Hit hardest among the top 30 metros, according to the report, were Atlanta, Georgia; Las Vegas, Nevada and Tampa, Florida, which all had the highest annualized depreciation rates. However, San Jose, California; Washington, DC and Pittsburgh, Pennsylvania all had the best annualized performance. "Pittsburgh was the only metro in the top thirty with a positive annualized change in home values," according to Zillow's report.
The report predicts home values will drop another 2-4 percent "before reaching a bottom in 2012," fueled by the obvious: unemployment, negative equity, and lack of consumer confidence in the housing market.
On the foreclosure front, overall more homes are remaining in the 90+ days delinquency status than in the past. The report indicates this percent of loans has fallen but at a slower rate "than would have occurred had more of these home entered into foreclosure status".
This is because 2011 started off seeing a decline in the number of foreclosures being started and instead more homeowners were remaining in a delinquent status. However, in the third quarter there was an increase in the initiation of foreclosure starts and also lower liquidation rates (the point at which the foreclosure process is over). This caused the foreclosure status to show little change in contrast to falling levels in previous quarters.
Zillow believes the foreclosure liquidation rate will increase which will decrease the overall number of foreclosure homes but will likely cause some downward pressure on home values as these foreclosed properties become Real Estate Owned. Home values have dropped 23.7 percent since their peak in May 2007.
If you're in the market to buy, this may be excellent news. The best action you can take is to be prepared as the housing market continues to adjust and more affordable markets open up. Having your finances in order and your loan approved will put you in the perfect position to take advantage of a buyers' market.

2 Things You Must Know To Become Healthy! - (Yolo HEalth) It's easy to say you want to be healthy. It's difficult to become healthy if you do not realize what healthy means. These quick explanations about healthy eating and exercise will set you on the right path to getting fit!
Getting started on healthy eating and exercise plan
Healthy eating is about creating a healthy eating plan that meets all your daily caloric needs (roughly 1,800 - 2,000 calories). Most people assume that eating healthy is all about eating adequate servings from each of the five food groups. This would be true in a general sense but there would be minor nutrition variations from individual to individual. Ditto for exercise plans - we are each unique and so must have an exercise and fitness plan that is customized for us. For these reasons, we recommend you consult three people; your doctor who will check your state of health and approve or disapprove certain types of exercise, an experienced and well known nutritionist who will take your lifestyle into account before creating a customized diet plan for you and you need to talk to a well known and qualified fitness instructor who will take your current physical fitness and lifestyle into account before creating a customized exercise plan for you. If you do not know any nutritionist or fitness instructor, talk to your doctor and ask him or her to recommend a nutritionist and fitness instructor for you. The local gym and aerobics centers might have some qualified nutritionist and fitness instructors working there.
Why we need to exercise
Eating, working (or keeping yourself busy) and exercising are three parts of the fitness pyramid. Exercising is no longer considered optional - it is a must! Experts have lost too much time in recommending exercise for all. A car that simply sits in your garage for years on end will gather rust and be useless when you need it. So just as the car needs to be used, so too our muscles. You do not want to be caught in a life threatening situation where you need to sprint but find you can barely manage a brisk walk let alone sprint. Keep those muscles in tune honey; you might need them some day. If nothing else, just keeping them in tune will keep you trim and fit.
If our daily work does not involve adequate physical activity, we need to add it into our lives. Physical activity ensures our heart, lungs, muscles and other organs work in tandem as one unit.
What is junk food?
Junk food is any food that either contains unacceptable levels of an unhealthy nutrient or chemical. Thus the French fries or burgers or other deep fried food you eat at McDonald's or elsewhere contain trans-fats - a particularly nasty nutrient that plays havoc within the organs of your body including your heart. Similarly pastries, candies and sodas are overloaded with empty calories i.e. calories with no nutrients - these get converted to fat and getting rid of fat is far from easy. We all love our Chinese food. Unfortunately, most of it tends to be stir fried with lots of cheap oil i.e. fats. Let's once and for all make 2012 the year that we are finally going to make the committment to exercise 20 minutes per day, minimum; and eliminate or at least cut back on junk food. We will all be a lot better for it.

December Real Estate CyberTips! - (RealtyTimes)
TRICK #1: How Far Is It To Topeka?
How many times have you wondered (or has someone asked) "How far is it to ----" This use to take a lot of page shuffling and even in the days of Google Maps a few steps to get the answer.
Now with a couple of clicks you can answer the distance question with ease. Just enter one city from the drop down list. Then select the second city. Just click "Get the Distance" and - Shazam! - there's your answer.
For example if you were in Boston the distance to Topeka would be 1291.8 Miles. And some more fun facts: That's 2079 Kilometers. The approximate flight duration time from Boston to Topeka is 2 hours and 41 minutes. And if you want to get in your row boat it's 1121.8 Nautical Miles - but you'd need to fix it up with wheels - and special oars!
This one is quick and easy - and worth bookmarking:
http://www.happyzebra.com/distance-calculator/
TRICK #2: Is Your Stock Broker An Angel - Or A Rascal?
Ever wonder if your stock broker Is a good guy or a bad guy? Now you can find out in a flash by using this free on-line tool designed to help investors research the professional backgrounds of current and former FINRA-registered brokerage firms and brokers.
You can search for both brokers and brokerage firms and obtain online delivery of a background report on approximately 1.3 million current and former FINRA-registered brokers and 17,000 current and former FINRA-registered brokerage firms.
This service is a resource you can turn to when choosing whether to do business (or continue to do business) with a particular broker or brokerage firm.
Good information - and the price is right:
http://www.finra.org/Investors/ToolsCalculators/BrokerCheck

Phoenix-Area Declines in Foreclosures, Home Supply Bode Well for 2012! - (AZCentral.com) In many ways, 2011 has been the most difficult year Phoenix-area homebuilders ever have endured, but local builders and analysts said there are several reasons to anticipate a more robust new-home market in 2012.
Nothing has come easy lately for an industry that just five years ago was building and selling about 60,000 homes a year in the Greater Phoenix market.
This year, homebuilders are on pace to sell about 7,200 homes, a decline of about 500 sales from 2010, said Jim Belfiore, a home-building analyst based in Phoenix.
Since late 2006, the number of speculative homes -- those built in anticipation of future demand -- has dropped to about 1,950 homes from roughly 12,500 homes, said Belfiore, president of Belfiore Real Estate Consulting.
Today's homebuilders are dealing with a hyper-competitive market in which too many subdivisions are vying for too few buyers, and shareholders are keeping a close eye on every dollar they spend.
"Their investors are scrutinizing every move they make, because they're not really profitable at this point," Belfiore said.
Still, local homebuilder executives and analysts said there are reasons to expect a better year in 2012 beyond the simple belief that the new-home market can't get any worse. They said there already have been improvements in some key market fundamentals during the past few months that have given homebuilders a reason to hope.
"We're not where we want to be, but we're headed in the right direction," said Alan Jones, division president for homebuilder Lennar Corp. in Arizona.
One of the most promising changes in the housing market since early 2011 has been the drastic reduction in the number of existing homes available to purchase in metro Phoenix, Jones said.
According to Cromford Associates, a housing-market analysis company based in Mesa, there were about 27,200 Phoenix-area homes listed for sale in November, a decline of more than 40 percent from November 2010.
That decline is good for homebuilders because it means less competition from existing homes, which currently sell for an average of $110,000 less than new homes in the Phoenix area.
A related market condition that has improved significantly in the latter half of 2011 is the volume of home foreclosures in the area, Maracay Homes CEO Andy Warren said.
The Phoenix area experienced a record 58,157 home foreclosures in 2010. Belfiore said the area is on pace to have about 54,000 foreclosures by the end of the current year, and he predicts there will be about 38,000 foreclosures in 2012.
A more significant decline is expected in 2013, Belfiore said, when he predicts foreclosures will total about 12,000.
A decline in foreclosures is important for homebuilders because it should help close the price gap between new and existing homes, Warren said.
Because foreclosures do not have to be processed through the courts, he said, it appears Arizona is outpacing many other states in flushing them out of the market.
"Nationally, we are ahead in terms of clearing the foreclosure problem," he said.
Still, Warren said he doesn't expect the impact of fewer foreclosures to boost the new-home market significantly in 2012.
"I don't expect that we're going to come roaring back," he said.
Despite completing a Chapter 11 bankruptcy reorganization in 2011, Tempe-based Fulton Homes has been the most successful homebuilder in metro Phoenix, averaging 4.8 sales per subdivision per month, compared with the local industry average of about 1.5 sales.
Still, Fulton Homes Vice President of Operations Dennis Webb said, this year has been "one of the worst ones we've ever had."
Lingering challenges for builders include home appraisals that consistently fall short of the builder's desired sale price, the inability of many interested buyers to qualify for financing and the difficulty many would-be buyers face when trying to sell their current homes.
Webb said he expects 2012 to be a better year for homebuilders, partly because of expected job growth and continued economic recovery.



12/09/2011 - Mortgage Rates Stay Low Helping to Keep Housing Affordability High! - (RealtyTimes) In Freddie Mac's results of its Primary Mortgage Market Survey®, the average fixed mortgage rates remained largely unchanged and near their record lows helping to keep housing affordability high for those borrowers who are in the market. The 30-year fixed dipped to 3.99 percent, and at 3.27 percent, the 15-year fixed averaged just slightly above its all-time low of 3.26 percent on October 6, 2011.
Rates
• 30-year fixed-rate mortgage (FRM) averaged 3.99 percent with an average 0.7 point for the week ending December 8, 2011, down from last week when it averaged 4.00 percent. Last year at this time, the 30-year FRM averaged 4.61 percent.
• 15-year FRM this week averaged 3.27 percent with an average 0.8 point, down from last week when it averaged 3.30 percent. A year ago at this time, the 15-year FRM averaged 3.96 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.93 percent this week, with an average 0.5 point, up from last week when it averaged 2.90 percent. A year ago, the 5-year ARM averaged 3.60 percent.
• 1-year Treasury-indexed ARM averaged 2.80 percent this week with an average 0.6 point, up from last week when it averaged 2.78 percent. At this time last year, the 1-year ARM averaged 3.27 percent.
As stated by Frank Nothaft, vice president and chief economist, Freddie Mac,"Thirty-year fixed-rate loans have declined 0.62 percentage points from a year ago, and median sales prices on existing homes are off 4.7 percent in the year ending with October. These low rates and home prices have pushed housing affordability to record highs this year. For instance, the National Housing Affordability Index, which dates back to 1971, reached another all-time record high in October for the sixth time in 2011, according to the National Association of Realtors®. Monthly principal and mortgage interest payments accounted for a mere 12.6 percent of median family incomes that month. This level of affordability likely contributed to the rise in conventional mortgage applications for home purchases over the week of December 2nd to the most in nearly a year."

Laws Targeted That Let Owners Abandon Homes! - (Arizona Business Gazette) The head of a key state House committee wants to scrap state laws that now allow homeowners who are "underwater" on their home loans to simply walk away.
Rep. Jack Harper, R-Surprise, says Arizona's status as one of a handful of non-recourse states is keeping the real-estate market from recovering here. He contends that having people abandon their homes further depresses the value of nearby homes.
"The idea is to keep people from being encouraged to just walk away from their house any time they're a little bit upside-down" on their mortgage, he said.
But the move is getting a fight from the Arizona Association of Realtors. Tom Farley, the group's chief executive officer, vowed to "utilize every resource that we have here in protecting consumers."
The law is simple: If a homebuyer walks away from a house on which the amount still owed is more than the value of the property, the lender is precluded from trying to recover the difference from the homeowner. By contrast, owners of commercial property who stop making mortgage payments can be sued for the balance.
None of this was an issue during the red-hot days of the real-estate market, when home values continued to skyrocket above what buyers paid.
But that all changed when the bottom dropped out and many homeowners found their houses were worth far less than not only what they paid but than the balance still owed on the mortgage. For many, the solution was to simply walk away and hand the keys to the bank.
The Arizona Bankers Association has fought for years to repeal or scale back the law, saying that when borrowers default, less money is available for new loans and lenders are stuck with repossessed homes they cannot sell at auction for enough to recoup their losses. They want to be able to go after the borrowers for the difference.
Farley, however, said that does not tell the whole story. He said Arizona's anti-deficiency laws were part of a deal in 1971.
Up until then, a bank that wanted to foreclose on a home due to non-payment on a mortgage had to go to court. Farley said that was a lengthy and cumbersome process.
That year Arizona became a deed of trust state. The function change was that lenders could foreclose on a property simply by giving notice and then taking possession 91 days later.
Farley said what the lenders gave up in exchange is the ability to go after the borrowers. But he said retaining the law makes lenders more responsible.
At one time, banks and thrifts would make mortgages and then keep those in their own portfolios. Now the lenders simply write the notes and then sell them off, many of those to federally backed Fannie Mae and Freddie Mac.
When the homeowners began to default, questions were raised about whether the original lenders had properly vetted the borrowers or simply wrote as many loans as they could to generate origination fees. And the banks balked at taking back those non-performing loans.
"Deficiency protection provides that pressure on the lenders to actually underwrite those loans," Farley said.
Harper, who chairs the House Ways and Means Committee, acknowledged that lenders may have ignored normal underwriting standards. But he said that's not their fault.
"The federal government uses the Community Reinvestment Act to intimidate the federally chartered banks," he said. "They give them goals about how many loans you have to make in underserved, low-income areas, and the banks then start making risky loans to meet the goal."
Harper said he has seen this as a mortgage banker, when some banks get behind in those goals and shop for loans in underserved areas.
He also said he does not believe the banks bear some responsibility for the bad loans and should have to absorb some of the losses when borrowers default.
"The banks are taking all the risk and the buyer is taking none, other than what their down payment is," he said.
Farley, however, said borrowers do lose more, ranging from what they've paid against the mortgage and the value of any improvements on the property to their credit rating. And he said that, in a state where consumer spending drives much of the economy, lawmakers should be concerned about that last factor.
He figures that anyone who has lost a home to foreclosure probably cannot get credit again for three to five years. If the only way out of a deficiency is to declare bankruptcy, that likely upsets an individual's credit rating for seven years.
Farley also said any move to scrap the anti-deficiency law actually is going against trends.
He said the Nevada Legislature adopted such a law two years ago, though it applies only to loans made after July 1, 2009.
Harper said he recognizes that there are situations in which the value of the home is so far below what remains owed on the mortgage that there is no real chance of an owner ever catching up. So he is willing to offer a compromise of sorts: Allow the lenders to go after the homeowner, but only up to the actual fair market value of the property.
So in the case of a home now worth $210,000, where the remaining unpaid balance on the mortgage is $300,000, an owner would be liable only for the lower amount. The lender would have to absorb the rest.
This isn't the first legislative squabble over the issue between lenders and Realtors. In 2009, at the behest of the Arizona Bankers Association, lawmakers curbed who can take advantage of the state's anti-deficiency laws.
One key provision required that owners live in the property for at least six months. That was designed to cut back on what some saw as an abuse of the protections by speculators who borrowed money to buy or build homes for the sole purpose of reselling them but then walked away when the bottom fell out of the market.
But it took less than a year for legislators to repeal that provision after the Realtors pointed out flaws, including that the requirement provided no relief for people who buy property for their relatives.
An effort to recraft a compromise fell apart, leaving the law the way it is now.

14 Tips For Furnace and Fireplace Safety! - (InmanNews & Sponsored by Lowe's) Beware of the 'Silent Killer'!
Here's our checklist to keep you cozy and safe during the winter months:
Wood-burning fireplaces
1. Inspection by a certified chimney sweep is a must. For heavy use, the chimney should be inspected and cleaned annually. Go up to five years if the fireplace is used only occasionally. The sweep should inspect for proper operation of the damper and for cracks in the flue liner, as well as sweeping the flue to remove creosote and other combustion byproducts.
2. Close the damper when the fireplace isn't in use.
3. Install a chimney cap if you don't already have one. You don't want creatures building their nest in your flue.
4. When starting a fire, "prime" the flue by holding lighted newspaper at the back wall of the firebox to start the warm air rising.
5. Burn aged, dry hardwood if possible. Fir or pine burns hot and deposits creosote in the chimney. Don't burn construction debris. It may contain toxic chemicals that will vaporize in the fire and could enter the living space.
6. Do not clean out the fireplace when the ashes are still hot. And dispose of the ashes in a place where wayward embers won't start a fire.
Fireplace with gas starter
1. If the flame goes out, wait at least five minutes before attempting to relight the fireplace. This allows time to clear the fireplace of gas.
2. Be alert for unusual odors or odd-colored flames, which are often a sign that the fireplace is not operating properly. In such cases, contact your dealer or licensed technician for servicing. Contact the gas company if you smell gas when the unit is off.
Gas furnace maintenance
1. An annual maintenance check of a gas furnace extends the life of the appliance and ferrets out any hidden problems. A qualified heating contractor should vacuum out the unit, inspect the blower motor, inspect the heat exchanger for cracks, check the electronics and perform a multipoint checklist to make sure the furnace is operating properly.
2. Clean or replace the furnace filter frequently during the heating season. This ensures that air returning from the inside of the house is unobstructed and clean when entering the combustion chamber.
3. Keep vents, space heaters and baseboards clear of furniture, rugs and drapes to allow free air movement.
4. Ensure there is free airflow around your furnace and make sure there are no storage items obstructing airflow.
5. Do not store or use combustible materials, such as chemicals, paint, rags, clothing, draperies, paper, cleaning products, gasoline, or flammable vapors and liquids in the vicinity of the furnace.
6. Carbon monoxide is a colorless, odorless and lethal gas that can occur any time there is incomplete combustion or poor venting. Any home that contains fuel-burning appliances, such as a fireplace or furnace, should have a carbon monoxide alarm installed according to the manufacturer's instructions.

Decorating on a Dime! - (RealtyTimes) A tight budget doesn't have to mean a lack of style! Your home can still be an up-to-date showpiece. You just have to know where to shop!
The first trick is to shop the sales! Retailers are fighting hard these days to gain your business. They have one-day sales, weekly clearance, and lots of coupons offered online.
Be sure to do a little research before heading out to the stores. You may find that certain retailers have coupons or better deals. Why pay more for the same thing?
Decorating on a budget can mean being willing to compromise slightly on what items you buy. You may love the upholstery fabric you saw in Traditional Home magazine, but at $200 a yard it is out of reach of many homeowners.
Instead, try your local fabric hubs, such as Hobby Lobby. You may not find the exact same pattern, but chances are you'll find a print that is similar and will give the same feel to your room.
Garage, yard, and estate sales are also prime decorator finding grounds. You never know what treasures will pop up! From antiques and handmade pieces to up-to-date styles, these sales are a smorgasbord of decor.
The main issue, however, is to be selective. It is easy to become sidetracked and buy items that don't really work for what your overall design is. Then you end up with more junk to store at your own house.
If your purse strings are pulled even tighter, then it's time to go to Plan B. There are a few options. Some of your other friends may be ready for a change. They may have curtains, candle holders, framed art, or throw pillows they'd love to trade for something new. Set up a swap meet for friends and share your stuff!
Another free option is reusing. What is reusing? You probably have curtains and decorative items all around your home. You might even have items you've put into storage. Now is a great time to pull items from the various rooms you want to decorate and see if any of the pieces you already possess could make a new statement in a new place.
Finally, don't be afraid to do-it-yourself. Many local home home improvement stores offer classes and brochures on how to tile, texture paint, and upgrade other areas of your home. You can find tutorials in books and online for how to build simple pieces of furniture, like window seats and built-in shelving.
The same goes for homemade curtains, roman shades, throw pillows, and cushions. You can do it! Have confidence in your abilities. These do-it-yourself projects can be real money savers.
Shopping on a budget doesn't have to be boring. You can make your home just as beautiful and cozy as the next person. Have fun with it!

Phoenix Council Votes to Keep Property-Tax Rate the Same! - (AZcentral.com) The Phoenix property-tax rate will remain the same next fiscal year, saving residents some money on their tax bills, but the City Council has delayed millions of dollars in bond-funded projects to help the city maintain its high bond rating.
The nine-member council on Tuesday unanimously supported keeping the tax rate the same and backed the staff's recommendation to delay at least $150 million in bond projects.
Property owners will continue paying $1.82 per $100 of assessed value in the 2011-12 fiscal year that starts July 1, 2012. That means the homeowner of a $100,000 house with an assessed value of $10,000 would pay $182 in property tax to the city.
Because home values are still sinking, the city expects to collect $22 million less in property taxes next fiscal year. To cushion the city from the drop, the City Council is allowing city staff to shift money from a special reserve fund.
The "secondary property tax reserve fund" has around $337 million in it, said Jeff DeWitt, the city's finance chief.
He said the fund accrued over the course of years from prior collections of the city's secondary property tax. used to pay debt for voter-approved bond projects.
When the amount collected exceeded the city's debt-repayment needs, the "leftover" money was put into the reserve, he said.
Property tax collections represent about 12 percent of the city's $1 billion general fund that pays employee salaries and operations. The bulk of the city's general fund is comprised of local sales tax collections.
At the cost of irritating some community groups, the council agreed with the staff's recommendation to tackle some bond projects next fiscal year and postpone others.
Bond projects for the next five fiscal years were prioritized by the 2006 Citizens Bond Executive Committee, comprised of 32 members. The committee this year created categories to rate projects in order of most to least important:
$55.4 million in projects already under contract and that are legally required.
$75.6 million in projects that, unless they are built, pose a threat to public health or safety.
$103 million in projects that could be damaged or are a legal liability.
$127 million in community projects with partially-leveraged funds or that could help the city save money.
$168.3 million in other community projects that didn't rank higher on this list.
$272.5 million in projects that would have a low impact if they are delayed.
The city has $277.5 million in already-completed projects that need no additional money.
Among the highest-ranking projects were the $1.4 million facility for the Black Theatre Troupe and the $7.6 million Phoenix Theatre renovation.
Some of the projects that posed a threat to public health or safety were the $50,000 dam safety program to guard against dam failures, the $747,000 dam spillway improvements near the Phoenix Zoo, and a $6.2 million upgrade for the Fire Department's communications system. Those are just a few on the high-priority list.
From there, the committee rated less-important projects that could wait, such as a $2.9 million, citywide storm-drain improvement project; $668,000 in projects to rehabilitate endangered and aging buildings; and a $5 million renovation of the Phoenix Center for the Community Arts.
Some community groups protested the move. The Arizona Latino Arts and Cultural Center president, Erlinda Torres, asked that the city prioritize development of the Hispanic cultural center, which is slated to receive $300,000 in a couple of years.
The council declined to reprioritize and approved the bond committee's suggestions as is.

Removing Wrinkles Without Going Broke! - (Karla Bowsher with MoneyTalksNews) Plenty of products claim to rid users of wrinkles, but few provide the results they promise. Still, effective products with affordable prices are out there. Here's how to find them - and save on them.
Do your homework
So, if even the experts have a tough time finding an effective anti-wrinkle product, what are the rest of us supposed to do?
What not to do...
Manufacturers routinely make inflated, if not false, promises. They get away with it because,the FDA does not oversee product claims. So never judge a wrinkle product by its container's claims.
This leaves two options...
1. Educate yourself. Product ingredient lists are the only part of product packaging that requires FDA approval, so they constitute the most (if not only) useful information a consumer can find on a product container. So if you want to buy an effective product, learn which ingredients are most effective. The experts explain these details best, so I'll leave it to them.
• Paula Begoun's 'The 5 Things Your Anti-Wrinkle Products Must Contain' on www.cosmeticscop.com
• Mayo Clinic's Wrinkle creams: 'Your guide to younger looking skin' on www.mayoclinic.com/health/wrinkle-creams/SN00010
2. Research ratings and reviews. In addition to publications like WebMD and ConsumerReports.org - especially their report on the best wrinkle products - I (Karla) swear by www.Beautypedia.com. This extensive database of personal care product reviews by Paula Begoun's team is free and allows you to search all the reviews or jump right to the best products in every category.
You could also consult customer reviews on sites like Amazon.com and MakeupAlley.com, but I don't advise it. No one wrinkle product works equally well for everyone, and Jane D. Consumer may not have followed the product directions correctly.
3. Save what you can. Any money spent on an ineffective product is a waste, and no effective wrinkle product is cheap. Penny-pinchers seeking to reduce wrinkles are actually better off worrying about wrinkle reduction first and price reduction second. Here's how I do it... Using what you learned from steps 1 and 2 above, narrow down all the relevant products out there to the well-reviewed options with quality ingredients.
Narrow those options down again by tossing out any products that aren't drugstore brands.
From the remaining options, pick the cheapest.
Buy it wherever and however you can get it for the least, making sure to compare the prices of brick-and-mortar stores and online retailers. Drugstore brands offer more coupons and go on sale more often than higher-end brands, so keep an eye out for coupons and sales. For example, I use an Olay serum at night, and all Olay products were recently on sale for 25 percent off at CVS.
When you find your wrinkle product of choice for less than retail, buy more than one. That way, it will last you until the next time it goes on sale or the manufacturer puts out a coupon.

HAPPY BIRTHDAY PJ - We all love you here, and don't believe that any of us could have gotten this far without you!
And for the record, ...you have never looked your age (or should I say "so good")!



30-Year Fixed-Rate Mortgage Settles in at 4.00 Percent! - (RealtyTimes) In Freddie Mac's results of its Primary Mortgage Market Survey®, the average fixed mortgage rates change little and remain near their historic lows helping to keep home buyer affordability high. The 30-year fixed mortgage has averaged at or below 4.00 percent for the fifth consecutive week while the 15-year fixed has hovered around 3.30 percent. Additionally, adjustable-rate mortgages ticked down slightly averaging new record lows for the second straight week.
• 30-year fixed-rate mortgage (FRM) averaged 4.00 percent with an average 0.7 point for the week ending December 1, 2011, up from last week when it averaged 3.98 percent. Last year at this time, the 30-year FRM averaged 4.46 percent.
• 15-year FRM this week averaged 3.30 percent with an average 0.8 point, the same from last week when it averaged 3.30 percent. A year ago at this time, the 15-year FRM averaged 3.81 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.90 percent this week, with an average 0.6 point, down from last week when it averaged 2.91 percent. A year ago, the 5-year ARM averaged 3.49 percent.
• 1-year Treasury-indexed ARM averaged 2.78 percent this week with an average 0.6 point, down from last week when it averaged 2.79 percent. At this time last year, the 1-year ARM averaged 3.25 percent.
According to Frank Nothaft, vice president and chief economist, Freddie Mac:"Mortgage rates were little changed this past week, with the average 30-year fixed-rate mortgage at or below 4.00 percent for the fifth consecutive week. This week the Federal Reserve released its latest Beige Book review of regional economic conditions, noting that the residential real estate market generally remained sluggish through the first half of the fourth quarter but that the economy expanded at a moderate pace in 11 of its 12 Districts. The extraordinarily low mortgage rates of the past month may provide a needed spur to housing activity.
"Economic data released this past week included the Conference Board's consumer confidence index, which had the largest jump in November since April 2003, and the S&P/Case-Shiller© 20-city composite index (seasonally adjusted), which fell for the fifth consecutive month in September to the lowest reading since April 2003. More optimistic consumers, lower house prices, and bargain mortgage rates may have contributed to the 10.4 percent jump in pending home sales in October to the strongest pace since November 2010 and may bode well for future home sales."

Zillow Releases Android Tablet App! - (InMan News) Adding to its lineup of free mobile applications, property search and valuation site Zillow has launched an app for tablet computers powered by Google's Android platform.
In an announcement, Zillow said its Android tablet app is unique in allowing users to compare multiple homes side by side. On the comparison screen, users can view photos and sort properties by home details such as price and number of bedrooms and bathrooms.
Other features of the app include map-based search of for-sale, for-rent, and recently sold homes; Google Street View; full-screen photos; a home screen widget to browse nearby homes; and voice-based property search. Users can also save listings and share properties through email, Facebook or Twitter.
This is Zillow's eighth mobile app. Earlier this month, Zillow released an app for Amazon's Kindle Fire tablet. The site also has apps that run on Android smartphones, iPhones, iPads, BlackBerrys and Windows 7 smartphones.
Combined, users accessed Zillow on a mobile device more than 11 million times in September, viewing 2.4 million homes daily, Zillow said.

Buyers: Making the Right Choice! - (RealtyTimes) There are so many different homes to choose from during the buying process. How can you be sure to make the right choice?
From condos, downtown neighborhoods, suburbs, and country homes, there's a perfect fit for every buyer.
To make the best decision you need to be sure to really give time to your decision making process. Yes, your gut can take you in the right direction, but don't be one of the many buyers that falls prey to listening only to their hearts, ending up biting off more than they can chew.
Some homes take more work than others. This goes double for older homes. The same can be said for many foreclosed houses. The price tag might be appealing or you might love the styling of the home, but keep in mind that much of a home's value is actually in its condition.
This is why it is imperative to have an inspection done on any home you are considering buying. Additionally, you should have a clause in your contract that states if the inspection comes back unsatisfactorily that you, the buyer, have the right to end the contract to buy.
Different homes also come with different lifestyle factors. Some buyers love the idea of having everything within walking distance. They like spending their extra time meeting friends for dinner and drinks or perusing the latest art exhibit. Could a condo be a good fit? It's a definite possibility.
Homeownership comes with its share of time intensive responsibilities. Lawns need upkeeping. Repairs need made. A condo can give you the location you desire without all the extra maintenance you'd find with a single-family home. That means extra time for the things that really matter to you!
Condos, while low maintenance, however, can also have their downsides. You will share walls, common areas, and amenities with neighbors. If you are an extremely private person, then condo living may not be for you.
Do you prefer a more isolated setting? Many people love the idea of country life. Just keep in mind that the further you are from people, the further you are from grocery stores, hospitals, and restaurants.
A suburban lifestyle has gained popularity over the last 20 years. Cities expanded to welcome their growing populations that wanted, and could afford, newer homes with their own nearby shopping centers. School systems can be very good and most areas boast lovely street designs thanks to urban planning.
The real key is to decide what lifestyle is best for you and your family. Once you've decided this, you'll be able to zero on the best location. Next, be sure to consider more than just the price tag of a home. Consider upkeep costs, area taxes, needed repairs, and even future salability. Do your due diligence and you're sure to make the right choice!

Phoenix New Home Sales Begin to Stabilize! - (Phoenix Business Journal) - New single family home sales in the Phoenix area are showing signs of stabilizing, according to a recent report by Phoenix-based RL Brown Reports.
Though new home sales for October were down compared with the previous month, the numbers for the past three months are better than they were in August, September and October of 2010.
There were 584 new home sales in October throughout the Valley as compared with 553 in the same month last year.
The average price of a new home is $262,603, as compared with $153,987 for a resale home. The median price of a new home is $219,504, as compared with $110,000 for a resale home.
Building permits obtained in October 2011 numbered 543, as compared with 485 a year ago.
Pulte Homes, which includes its Centex and Del Webb lines, closed on 84 homes in October, far more than the No. 2 home builder, D.R. Horton, which had 47 closed sales.
Shea Homes had 42 closings, followed by Blandford Homes (39), K Hovnanian (35) and Fulton Homes (34). Robson Communities and Taylor Morrison closed on 26 homes. Lennar Homes, Beazer Home and Ashton Woods each had 25 closings.
Nationally, new single family home sales were up 1.3 percent in October to 307,000 units, according to new data released today by the U.S. Commerce Department. New home sales increased almost 15 percent in the West region, which includes Arizona. The nationwide inventory of new single family homes for sale hit an all-time record low in October of 162,000 units, which is a 6.3 month supply at current pricing levels.
"Today's report is right in line with our forecast for modest and gradual improvement in sales activity through the remainder of the year," said David Crowe, chief economist for the National Association of Home Builders.

Should I Take My Home Off The Market During The Holidays? - (REaltyTimes) - When you look at your holiday calendars you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken.
It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may find your efforts unrewarded by enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year. Besides, you can give your house a rest, and it will have better momentum after the holidays. Better to just pack it in and start fresh in January, right?
But wait! Top-selling Realtor Jennie Ling says taking your home off the market during the Christmas season is a mistake. A vice president of Virginia Cook REALTORS® and the number one sales person in her company for almost every one of her more than 35 years in the real estate business, Ling exclaims, "The house sure isn't going to sell off the market! What is the advantage of that? So you're busy. Let your Realtor do the work. You can leave in the morning, go to work, go shopping, and let your Realtor take care of things."
"The holidays are my best-selling period. Why? Because most people take off work sometime during the season. The husband and wife are both off and want to see houses. I showed homes on New Year's Day last year. I like the holidays because the buyers have more time, and they can look at homes together."
Before you take your home off the market, consider the following points:
• Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. Ling believes the home market is no more affected at Christmas than during other "busy" periods. If that were so, the market would shut down throughout the year as families concentrate on spring weddings, June graduations, summer vacations, and autumn back-to-school activities.
• Many buyers deliberately choose to shop for a home after the busy spring and summer rush. They know that it will be easier to look, and that negotiations will be less stressful. They may not have children, or they may have grown children, so moving to accommodate the school year isn't a consideration. Finding the right home at the right price, however, is.
• Relocating families often don't have a choice in when they can leave for their new destination. Although 68 percent of transferring families have children, many families have to transfer during the middle of the school year. These families are that much more motivated to get their families settled in before either the January semester begins, or to arrange for the move during spring break in March. If you sign a contract by New Year's Eve, the timing couldn't be more perfect.
• At Christmastime, our culture focuses on family and the home. Preparing for the indoor activities of winter is one of the most enjoyable periods of family life. Allowing buyers to view your home during this most hospitable of seasons lets them better picture their own family life in the attractive environment you have created.
• When is your home ever more beautiful and inviting? You have cleaned and decorated, and your home looks like a picture postcard. If the results are good enough for family and friends, they will surely be good enough to impress your buyers. Get the family team on board to do a five-minute blitz pick-up every morning to keep holiday messes to a minimum.
• With reduced inventories and motivated buyers, you will have all the members of the MLS on your team. You may find you have more showings than you would if you marketed your home during a busier time of the year.
• If you do get a contract, you can arrange the terms to suit your needs. If moving during the holidays isn't an option, you can put in the closing date of your choice. "Most people can close 30 to 60 days after a contract is written, so there is plenty of time," Ling says. "Possession and closings are very negotiable."
 
 
 

Paul Pastor, ABR, CREA, CRS, GRI
 Broker-Owner, REO CERTIFIED

Pastor Real Estate Team

8494 E. Cactus Wren Circle
Scottsdale, AZ 85266

Office: (480) 575-5290
FAX: (480) 575-5291

Email:
Paul@paulpastor.com
PJ@paulpastor.com
Kasey@paulpastor.com


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