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Market Conditions and Outlook
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User rated daily articles on declining and advancing real estate markets, mortgage news, creative owner financing, realty facts, and property owner opinions |
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| It doesn't take a fortune teller to predict that common elements are going to wear out and it doesn't take a crystal ball to predict that HOAs are going to need money and a plan to fix them. So why do so many HOAs fail to properly plan for these predictable events and expenses?
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Maintain an Organized Entryway |
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| The goal of homeowners everywhere should be to have not only functional, but beautiful entryways.
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Most Homebuyers Have No Regrets |
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| Even in the face of stagnant - or sliding - home prices, an overwhelming 90 percent of homeowners say they don't regret buying their current home, according to a new study by Bankrate, Inc.
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Disgruntled Short Sale Buyers Moving To "New" Homes |
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| Columnist David Fletcher talk about competitive prices, dependable closings, and less stressed reasons for a move.
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Making The Case For Lost-Property-Value Claims In The Gulf Oil Disaster Zone |
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| Real estate properties along the Gulf Coast oil disaster zone are expected to suffer value losses ranging from 10 to 30 percent or more, but some efforts are afoot to help property owners mitigate those losses.
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| The landscape of American has changed over the years. As population levels grew, so changed rural and urban demographics.
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When Should an HOA Be Able to Restrict an Owner's Right to Rent Out His Unit |
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| Is it fair for an HOA (Homeowner Association) to prohibit or restrict a unit owner from renting out his property? Should there be a law about this? In California, these issues are currently being argued in both the legislature and the courts. In some other states the issues may already be settled; in others the debate is no doubt going on.
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| It's a trend that started decades ago. Even President Jimmy Carter, in his 1979 "Malaise" speech, warned of its effects if American's continued on their path.
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Saving for a Home in Canada |
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| For most Canadians, a home is much more than a financial investment -- it's a lifestyle choice. If you're ready to get into the real estate market but don't know if you can afford it, here's what you need to know.
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| Face detection, elevator music, and tips for your next big move. All of these are covered in this month's Cybertips.
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Real Estate Outlook: Mixed Figures |
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| With sharp drops in sales of existing and new homes plastered over the front pages and leading the nightly newscasts, it's no wonder the real estate doomsayers on Wall Street have been working overtime.
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The Real Objective in Lead Follow-up |
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| It boils down to how much, how soon, and how much effort. How much effort contains two parts. How much to get them to the committed client level and how much to serve them to a high level of satisfaction.
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Long-Term Mortgage Rates Fall for the Ninth Week Out of Ten |
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| Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), and for yet another week, fixed-rate mortgages reached record lows, while the 5-year adjustable rate remained tied at its low for this survey.
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Kitchen Remodeling Trends |
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| If you're shopping for a new home, chances are, whether you cook or not, the kitchen is an area of great interest. The bathroom is also likely high on the list to inspect. That's because we spend a lot of time in both of these rooms, socializing and taking care of the, ahem, important stuff.
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How Mortgage Rates Compare |
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| You've heard it all across the media. Interest rates are at historic lows. If you are new to the mortgage process, these figures and statements give you little frame of reference.
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San Francisco Bay Area Ground Zero for National Housing Recovery |
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| According to the California Association of Realtors (CAR) vice president and chief economist Leslie Appleton-Young, the San Francisco Bay Area, including Silicon Valley, is at the top of the market recovery heap.
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Mortgage Rates Amazingly Low, Continue to Fall |
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| 30-year fixed mortgage rates are now at 4% for well-qualified borrowers who pay .07 to 1 point origination shows FreeRateUpdate.com research of wholesale lenders' interest rate sheets. 15-year fixed mortgage rates are at 3.5%. Both fixed mortgage rates, which continue to decline, are at all time record low levels
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Stand Out in a Buyers' Market |
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| How do sellers fare when there are two, three, or more listing signs visible on their street, along their stretch of shoreline, or in their condominium complex? PJ Wade offers practical seller tips for ensuring their property stands out in a crowd.
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NAR Disputes HUD Ruling on Payments From Home Warranty Companies |
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| In the June 25, 2010 issue of the Federal Register, the department of Housing and Urban Development (HUD) published a response (Docket # FR-5425-IA-01) to a 2009 request from the National Association of Realtors (NAR) asking for clarification regarding compensation paid by home warranty companies to real estate agents and brokers. In particular, NAR wanted to know HUD's position regarding such compensation when given on a per-transaction basis.
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| Columnist Carla Hill shares with readers why it is so important to price your home right, and from the very beginning.
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| What is your plan for when you will no longer be working full time in real estate? Real Estate Coach, Joeann Fossland, shares her tips.
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Paperwork to Keep after Closing |
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| At the end of closing, a large stack of papers sits in front of you. How do you know which one to file away for future use?
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Real Estate Outlook: Fannie Forecast |
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| If you want a good sense of where we are in housing and where we're headed, check out the latest forecast from Fannie Mae chief economist Doug Duncan.
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Ten Have-to-Haves for a Real Estate Agent |
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| As a salesperson, you have to be able to keep in touch with prospects and clients easily and effectively. You have to be able to put your hands on names, addresses, phone numbers, and e-mail addresses in an instant.
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Housing Starts Rose in July |
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| Is it welcome news to the many slowly recovering housing markets? Real estate is waiting on a marked recovery from the recession, and some of the latest regional housing start figures seem to show it could be happening.
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30-Year, 15-Year Fixed-Rate Mortgages Continue to Inch Downward |
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| Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), and for yet another week, the fixed-rate mortgages reached another low, while the 5-year adjustable rate remained tied at its low for this survey.
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Don't Let Termites Eat Away the Sale Of Your Home |
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| You're selling your home and it comes time to get that dreaded termite inspection. It's the Wood Destroying Organism (WDO) inspection that homeowners fear can eat away at the price of a home or ruin the entire deal--but it doesn't have to.
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Vacation Rental Owners' Hard Lesson from the Gulf Oil Disaster |
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| Some vacation property owners in the Gulf area, suffering lost income due to the disaster, discovered the hard way why sound record-keeping is a must.
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Part Three: Final Three Principled-Based Lessons For Commission Sales People |
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| Part 3 in this Commission Sales Lessons series presents principles seven through nine that were taught then caught along the way. Principles are dependable. They are true. They can help you separate fact from fiction.
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Social Benefits of Housing |
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| Recent research from the National Association of Realtors (NAR) outlines the importance of homeownership on not just the economy, but on the social benefits it provides.
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How to Stretch a Roth IRA to Last More Than 150 Years |
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| If you can create win-win situations you should always do so. You may be asking, "What does this have to do with IRAs?"
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Home Equity a Big Advantage for Canadians in Retirement |
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| At a time when pension plans are under financial strain and there are questions about whether Canadians are prepared for retirement, a new report by Statistics Canada looked at how unmeasured income from home equity is "an important source of well-being for retirement-age households."
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About That Real Estate Sales Tax |
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| If you haven't received an email about the alleged real estate sales tax, you will. Probably, many readers have already received more than one. They go something like this: "Did you know that the new health care bill will make all real estate transactions subject to a 3.8% sales tax? Just think, if you sell your home for $400,000, there will be a $15,200 tax!" It isn't true.
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Reduce Your Carbon Footprint |
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| The Summer season gives many homeowners excellent opportunities to reduce their carbon footprint, an increasingly pressing issue in American households, where energy consumption has reached new heights.
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Three of the New Realities of Successful Online Marketing |
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| The Internet has been the game -- changer in real estate. Be honest: did you ever think, back in 2005, that more than 80% of all homes sales would begin on the Internet?
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Real Estate Outlook: Modest Recovery |
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| The Federal Reserve's board of governors gave their current economic forecast a label last week: The label is "modest" - and it's an important word to keep it in mind.
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30-Year, 15-Year Fixed-Rate Mortgages Drop Again |
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| -- Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), and again, the fixed-rate mortgages reaching, along with the 5-year adjustable rate, set record lows for this survey.
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Showing the Consumer Specifics |
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| One of the challenges for salespeople is that we sell in generalities when consumers really want specifics. If we stay in the generalities, we will lose.
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Handling Neighborly Disputes |
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| It may be difficult to reach amicable decisions when it comes to neighborly disputes, where relationships can be stretched and boundaries pushed if issues are not handled carefully.
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'Day-at-the-Beach' Becomes Tougher Sell for Gulf Coast Vacation Rental Property Owners |
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| The Gulf Coast's economically pivotal vacation rental playground faces a value crunch that could cost individual properties as much as $80,000 in lost value, according to the most exhaustive study to date of the Gulf oil disaster's impact on residential real estate values.
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| At times, it can appear that trying to unify the board of a homeowner association is like herding cats. Freedom of expression is what America is all about, right? Well, yes and no.
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| The time has finally come! The ink is drying on the sales contract, and you are gearing up for the big move. But how will this chaotic time affect the four-legged members of your family?
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Top 10 Things You Need to Know About Self-Directed IRAs |
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| There is a lot of confusion over self-directed IRAs and what is and is not possible. In this article you'll see some of the most important things you need to know about self-directed IRAs.
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Realtors Seek to Make All Appraisals Portable |
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| Effective January 1, 2010, all FHA appraisals (with limited exceptions) became portable. According to FHA Mortgagee Letter 2009-29, this was "for the purpose of facilitating the loan process when a borrower switches from one Federal Housing Administration (FHA) approved lender (first lender) to another (second lender) and an appraisal was ordered by and completed for the first lender."
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Contracts: The Deliberate Path to Success |
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| If a professional or business that you hire to undertake mutually-agreed-on tasks, does not fulfill their obligations, what are you going to do about it? PJ Wade clarifies how written agreements protect you and your real estate.
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Improve Your Credit Score |
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| Healthy credit scores have never been more important. As banks tighten their lending standards, it's important to have your score as high as possible.
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Real Estate Outlook: Bumpy Recovery |
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| What do you make of a market where pending home sales drop, as they did in the latest monthly survey, but many other real estate and mortgage indicators are trending positive at the same time?
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San Diego Real Estate About To Double Dip |
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| San Diego real estate price appreciation has outpaced the rest of the nation, according to a recent headline in local news. Other news reported that San Diego County housing prices rose 11.7% in April 2010, over April 2009. With home prices increasing for the past eleven consecutive months, most pundits proclaim that the real estate decline bottomed a year ago and the worst is over. The worst would appear to be the 40% decline in value, from the top of the market in 2005.
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Accepting Over-Priced Listings |
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| Columnist Dirk Zellers gives some tips on how to handle over-priced listings.
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Mortgage Rates Down Again as GDP is Revised Lower |
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| Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), with the 30-year and 15-year fixed-rate mortgages reaching record lows for this survey.
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Bathroom Remodels Becoming More Popular |
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| While kitchens are still high on the interest list for buyers and homeowners, the National Association of Home Builders (NAHB) is reporting that remodeler survey respondents say that a bathroom remodel was one of their most common projects during the first six months of 2010--as much as 61 percent of their remodels were done on bathrooms.
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Avoid Common First-Time Buyer Mistakes |
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| If you are in the market to buy your first home, you may have already realized that the process involves many different levels of knowledge and understanding. Chances are many steps of the process are completely foreign to you.
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Gulf Area Homeowners Get Mortgage Relief |
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| To help ease the blow of the Gulf oil disaster Fannie Mae, CitiMortgage, the Louisiana Realtors Association and others have stepped forward with mortgage payment moratoriums, foreclosure suspensions, and cash assistance.
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Part Two: Three More Principle-Based Lessons For Commission Sales People |
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| Columnist David Fletcher shares three more life lesson he's learned along the way.
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Remodeling Market Declines |
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| Recent statistics indicate that the economy is still casting hard times on segments of the real estate market.
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Top Ten Things to Know When Investing in Real Estate Notes in Your IRA |
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| Lending can be an excellent investment in an IRA. It is relatively easy to do and if done correctly has a comparatively low risk.
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California Law To Require Carbon Monoxide Detectors |
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| On May 7, 2010, California Governor Arnold Schwarzenegger signed into law Senate Bill 183 (Lowenthal), a bill that will require the placement of carbon monoxide detectors in all California dwelling units. The bill also requires that the presence or absence of these devices must be disclosed when residential real estate is transferred.
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Staging a Photo Ready Home |
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| Your home's first impression may not be one that is face to face with a prospective buyer. In today's world, 84 percent (National Association of Realtors) of home buyers start their search online. That's an impressive figure, and one that means your home needs to make a strong virtual impression.
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Financing a Second Home in Canada |
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| If you're buying a recreational property or second home in Canada, financing the purchase is a little different than for a primary residence. Jim Adair takes a look at the lenders' requirements.
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What Do Sellers Really Want? Re-Strategize and Adjust to Stay Relevant to Today's Sellers |
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| The availability of information online in the 21st century has radically changed many industries, including real estate. Travel agents and car dealers have found their businesses impacted dramatically as consumers tap into online information that gives them power and choices and makes proprietary information a thing of the past. In the real estate industry, the "one size fits all" model is quickly become antiquated. Consumers want choice. They want more control.
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Real Estate Outlook: Sales Jump |
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| The economic recovery continues to bump along in a "fits and starts" pattern, but what's important to keep in mind is that the core trendline remains positive.
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How to Become a Great Listing Agent |
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| When we analyze an agent's business, we have to look at the break down of their listing transactions versus buyer transactions. Better than 90% of agents do far more on the buyer side of the business than the listing side. Once we understand and accept that fact, the question is why.
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Fixed-Rate Mortgage Rates Inch Downward to Another New Low for the Sixth Consecutive Week |
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| Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), with the 30-year and 15-year fixed-rate mortgages reaching record lows for this survey.
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Water Features Enhance Home Appeal |
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| With the summer months pushing temperatures over 100 degrees in some areas and humidity leaving drips of perspiration on people's brows, it might be time to consider a water feature to help enhance your home's appeal.
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California gets $700,000 slice of special $1.5 billion homeowner bailout pie |
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| California struck gold, receiving the biggest chunk of a special $1.5 billion federal fund pie for programs that target struggling homeowners in states hardest hit by the housing crash.
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Homeowners Dealing With BP Oil Spill |
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| If you are like most Americans, your largest asset may very well be your real estate holdings, whether they be a primary residence or rental properties. In fact, for many homeowners along the coasts, their income is made through the sale and rental of coastal properties.
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| The phrase "absentee landlord" in a homeowner association context conjures up images of the "tenant from hell" and an owner who could care less. However, generally speaking, both the landlord and tenant want the highest and best returns on their investments. What benefits the homeowner association will also benefit them.
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Either a Lender or a Borrower Be |
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| Shakespeare had it wrong when he penned this advice in Hamlet: "Neither a borrower nor a lender be; For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry." Perhaps he may be forgiven for his error, however, since Shakespeare suffered from a lack of the tremendous benefits of a truly self-directed IRA.
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Fannie Mae Addresses Appraisal Concerns |
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| On June 30, 2010 Fannie Mae issued announcement SEL-2010-09, "Selling Guide Updates and Additional Guidance on Appraisal-Related Policies."
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The Ideal Housing-Linked-to-Services Choice |
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| Housing linked to services is gaining popularity with boomers and everybody else. PJ Wade explains the growing trend toward loving where you live doing fewer and fewer daily chores. Discover PJ’s tips for shopping for a new home that requires you evaluate food services and support delivery in general.
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| There will come a time during your home buying process when you'll need to do a final walk-through of the home before closing.
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Real Estate Outlook: Federal Reserve Weighs In |
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| The U.S. Congress asked Federal Reserve Board chairman Ben Bernanke a key question last week: Where do you and your colleagues believe we're headed in terms of the national economy?
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How to Recognize a Sellers Market |
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| As a homeowner, and a prospective seller, you may be wondering if now is a good time to put your home on the market. But how can you tell if the market is in your favor at this time? Will you lose money or make money? Is it a "sellers market"?
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Public Social Media Policy: Does Your Office Have One? |
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| Have you ever heard the phrase "Restraint of Tongue and Pen?" Well in the new age of the social media craze in real estate it should be clearly understood by all because there are major consequences to what we place in writing and post on the Internet for all to see.
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Making Your Home Appealing On A Budget |
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| With the uncertainty of the economy, many people are looking for ways to cut back. When it comes to selling their home, homeowners often don't want to put much money into getting it ready for the sale. While that's certainly understandable, properly preparing a home before listing it goes a long way to helping attract serious buyers and offers.
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| The art of being highly successful in sales can be summed up in five words: Believing something and convincing others. That's it! That's what makes a salesperson successful. You must have unshakeable belief in what you are selling.
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30-Year, 15-Year Fixed Mortgage Rates at Record Lows |
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| Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), with the 30-year and 15-year fixed-rate mortgages reaching record lows for this survey.
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Site to See: Esteemed Lending Services (It's a fake) |
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| While the "Esteemed Lending Services" web site isn't particularly loaded with a lot of new information, it reveals how easy it is to scam consumers and serves as a reminder of what's out there to take you to the cleaners.
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Small Room Decorating Tips |
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| A small space doesn't have to lack style. In fact, with the right pieces of furniture, accessories, and splashes of color, your small space can make a big impression.
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Three Principle-Based Lessons For Commission Sales People |
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| Columnist David Fletcher shares three sales lessons he has learned over his 30 year career.
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| Committees serve an invaluable role in assisting the board. They allow owners to participate on focused issues without committing to years of service on the board. Each committee appointed by the board should have a written charter or marching orders which defines expectations. Here is a sample charter which can be adapted to other committee functions.
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Another Week of Record Low Mortgage Rates |
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| Uncertainty in the global economy has kept mortgage rates at record lows for over a month. This week mortgage-backed securities prices, which drive mortgage rates their opposite, have again posted gains as investors continue to favor safer bets, helping mortgage rates.
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Pending Legislation Aims to Extend California Anti-Deficiency Protection |
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| On June 3 of this year, Senate Bill 1178 (Corbett) was passed by the California State Senate and sent on to the Assembly. A California Association of Realtors news release described this as a "victory for consumers." Inasmuch as not all consumers, nor their real estate agents, may realize the exact nature of this victory, it seems worthwhile to devote some attention to it.
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Cleaning Up After a Flood |
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| It's been another bad year for flooding across Canada. If you've been the victim of the flood, here are the priorities to minimize flood damage and get your house back to a liveable condition.
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Basic Tips for Rose Gardening |
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| Rose gardens are the pride and joy of many homeowners and communities. Caring for them, however, takes times and a few expert tips.
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Mixing Business with Business: Are You Sending Mixed Messages? |
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| An acupuncturist who also sells Pre-Paid Legal Services memberships. A sales trainer who also distributes organic chocolate bars. A land development consultant who also sells purified water machines. A real estate agent who also sells beauty products.
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| Points, fees, and adjustable rates. If you are brand new to the home buying arena, then mortgage terminology can be as foreign as reading Greek.
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Real Estate Outlook: Market Report |
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| We all know how important a role consumer confidence plays in any economic recovery, and most definitely in home buying decisions. Now a new national poll of consumer attitudes offers some encouraging news for the months ahead.
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Mortgage Rates Stable This Week |
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| Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS). 30-Year Mortgage Rates tied last week's record low.
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| Success is an elusive concept to many people. It has as many different definitions as there are people on earth. To truly achieve success, one has to create their own vision of exactly what it is they want and desire.
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Housing Tax Credit Closing Extension Helps Some; Others Finding Market Ripe With Good Deals |
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| It's not a lot of time, but a three-month homebuyer limited tax-credit extension will help some. "I think it was one of relief by lots of homebuyers who had loans and real estate transactions in the pipeline and couldn't close by the June 30th deadline. The extension gives them the opportunity to finish up their deals and close by September 30th," says Lucien Salvant, National Association of Realtors spokesperson.
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| Need a quick montage (collage or the like) of many photos neatly assembled on one print? Ever wonder how many of the software programs on your computer are out of date?
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Habitat for Humanity ReTooling Blitz and Women Build |
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| If money is no object, you'll probably find great craftspeople to renovate your home, but on a set budget, finding a contractor or supplier who'll call you back can be a challenge. PJ Wade offers a suggestion for learning how to look after your own home while helping low-income families escape from substandard housing to affordable home ownership.
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Whistle Blowing Isn't Always Easy for a Real Estate Broker |
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| Suppose you are a real estate broker and one of your agents engages in some pretty serious violation of real estate regulations. Suppose the behavior is clearly intentional and is part of a pattern. You would probably fire him or her. But what then? If they go to another broker, it is unlikely (a curious fact about the real estate business) that you will be called for a reference. You could report the agent's actions to your state Department of Real Estate; but would you?
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A Wish List for a Dream Home |
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| Your real estate agent may not be your fairy godmother, but they have powers to grant you many of your home buying wishes.
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| Small habits can add up to big savings when it comes to electricity. As the summer heat soars, so do many homeowners’ electric bills. Here are some savvy tips on how you can start saving both your cash and the environment.
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Three Levels of Lead Generation |
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| If at first you do not succeed, try try again! Since 93% of online consumers are searching for properties online, your listing is the first point of contact most people will have with you throughout the Internet.
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Real Estate Outlook: Small Gains |
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| If you're looking for a useful way to interpret where we're headed with the U.S economy -- and housing prospects in particular -- consider some words from Dallas Federal Reserve Bank president, Richard Fisher.
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30-Year Fixed Rate Mortgage Drops Slightly to Create Another New Low |
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| Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.57 percent with an average 0.7 point for the week ending July 8, 2010, down from last week when it averaged 4.58 percent. Last year at this time, the 30-year FRM averaged 5.20 percent. This rate is yet another all-time low in Freddie Mac’s 39-year survey.
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