Lower Price Reductions For The Month Of March

June 21, 2010
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According to Trulia.com March 2010 Price Reduction Report, this month has the lowest percentage of price reductions in the last years for homes that have been reduced.  There were just fewer than 20% of homes that were for sale as of March 1 that had been reduced at least once.

The total amount slashed from home prices dropped to $21.6 billion and the average discounts for price-reduced homes continue to hold at 11% off of the original listing price.  The biggest decline happened in Charlotte, NC; Colorado Springs, CO; Houston, Texas; Raleigh, NC and Jacksonville, FL.  The highest was in Charlotte…

The Benefits Of Online Home Shopping

June 8, 2010
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Browsing for housing online is convenient because it puts listings at your fingertips, speeds the home-buying process and it can also be educational.  According to the California Association of Realtors (CAR), 84% of home buyers use the internet as a part of their home buying process.

The internet offers so much information about the home and when you get to visit the home, it will just be a validation process of what you’ve seen online.  But you should remember that buying a home comes with the same prerequisite necessary for any home buyer and that is to get your finances in…

Obama Administration May Prohibit Foreclosures

June 8, 2010
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The Obama administration will try to easy the housing crisis by banning all foreclosures on home loans unless they have been screened and rejected by the government’s HAMP or Home Affordable Modification Program.

According to a Treasury Department document outlining the plan, the proposal that was reviewed last week on a White House conference call will prohibit foreclosures until the borrower is evaluated and found ineligible for HAMP or reasonable contact efforts have failed.

Treasury spokeswoman Meg Reilly said that it is one of the many ideas under consideration by the government regarding housing stabilization efforts.  This proposal is not yet approved…

$35 Billion Funding Will Greatly Help Detroit Investors

June 8, 2010
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The $35 billion funding will definitely help the real estate market of Detroit.  Investors from Detroit will greatly benefit from the Obama administration because it will provide $35 billion to help state and local housing agencies provide financing to low and moderate income families.

This could provide relief for government housing finance agencies that have experienced a lot of hardships during the real estate crash and because they are important for first time and low income home buyers.  This will be a big help for Detroit investors because homebuyers will be lining up to purchase affordable homes.  It will also be…

There’s More Time To File A Form 1040

June 8, 2010
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Filing a late Form 1040 could get you slapped with a substantial and nondeductible penalty.  The penalty is 5% of the balance due for each month or portion of the month if a 1040 is late.  The maximum penalty is 25% of the balance due and this could be a really steep price and also a waste of money.

But you can waive the penalty if you can convince the IRS that the delay was reasonable.  Reasons like your residence or place of business or records were destroyed due to fire, flood, civil disturbance or burglary, death or acute illness of…

Deadline For Remodelers and Builders Lead Training Drawing Closer

June 8, 2010
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The deadline to comply with the new lead paint rule is looming for remodelers and builders who do renovation or remodeling projects in homes built before 1978.  At least one employee in any company should be certified by the Lead: Renovation, Repair and Painting rule from the Environmental Protection Agency.  They should follow specific work practices and keep detailed records by April 2010

The CEDIA or Custom Electronic Design and Installation Association announced that it is offering a simple and cost-effective solution for companies to comply.  CEDIA together with NCHH and other EPA-accredited providers is now offering the two-part Certified Lead…

The Best Real Estate Property Investment

June 8, 2010
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For people and homeowners who are just starting out to become real estate investors, the safest and most effective way to gain profit is by investing in a residential property.

Residential properties can be rented out to tenants to get a monthly income from rents.  This will help pay the mortgage, operating expenses and produce a small cash flow as return on your property investment.

If you focus in residential properties, it will certainly give you cash flow and tax benefits.  The best residential income properties to buy are small apartment buildings and single family rental houses.  Also, the best residential properties…

Caring For Your Lawn During Late Winter

May 31, 2010
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The past few months may have covered your lawn with snow or it may have turned brown from the winter weather.  Here are a few ways on how to take care of your lawn for the early spring.

* Take care not to walk on your lawn when the winter ends because your lawn may have been compacted the winter, either by snow or by heavy foot traffic.
* Consider wearing aeration shoes.  These are spiked pieces of rubber that is strapped to your shoes as you walk across your lawn.  They create narrow holes in the soil to let air and…

Canadians Believe Buying A Home Is Still A Good Investment

May 31, 2010
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According to a recent survey done by Ipsos-Reid on behalf of RBC, Canadians are very likely to purchase a home in the next two years because it is still a good investment.

91% of Canadian homeowners believe a home is a good investment and people aged 18 to 24 are most likely to buy a house in the next two years.  Majority of them plan to take out a fixed-rate mortgage although combination mortgages are also popular with 40%.  70% of them will take out a mortgage term for five years or longer.

The motivation to buy homes can be attributed to…

30 Year Fixed Mortgage Rates Unchanged

May 31, 2010
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According to FreeRateUpdate.com, the 30 year fixed rate mortgages were available at 4.75% all of last week to consumers paying a standard .07 to 1 point origin.  The 15 year fixed mortgage can be obtained at 4.25 while the 5/1 Arm can be obtained at 3.625.

The FHA loans are still available at the same rates as conforming mortgages.  Although FHA loans are more expensive, the home buyer tax credit is still available until the end of April.  The New guidelines for FHA will increase the MI to 2.25 percent of the amount financed and will start taking effect on the…