Starting Dec. 20, 2010, Texans can purchase appliances and participate in the new Texas Appliance Mail-In Rebate Program.
The new $18.5 million Texas Appliance Mail-in Rebate Program is a traditional mail-in rebate program, and Texas consumers do not reserve funding for an appliance rebate. Rebates are available on a first-come, first-served basis until all funds are distributed. All funds are part of the federal stimulus program.
Who Can Participate
Texas residents with a valid Texas residential address qualify for a rebate if they follow all program rules. You can apply for two appliance rebates and two recycling bonus rebates per household between the April 2010 program and this program. You can only qualify for one rebate per appliance category from the eligible appliance list (for instance, you may not apply for two refrigerator rebates).
How to Apply
Follow this link for the official Texas Rebate Form.
Monday, December 20, 2010
Thursday, October 21, 2010
Thursday, October 14, 2010
Thursday, October 7, 2010
No Mothers-In-Law Allowed!
The 7 Craziest Local Laws and HOA rules
It’s important to know the laws of your land and your neighborhood. Both governments and homeowners associations, or condo associations if you are a condo-dweller, can levy powerful—and sometimes incredibly strange—restrictions and requirements. Some can be pretty costly, as Pennsylvania residents recently found out with the potential new requirement for sprinkler systems in single-family homes.
1. Can’t park your car in your own driveway
In Odessa, Fla., a resident was fined by his board for parking his pickup truck in his own driveway because it wouldn’t fit in his garage. Not our problem, the HOA basically told him before slapping him with a lawsuit. After a protracted legal battle, he has since won the right to park his car, but only after two years and $200,000 in legal fees.
2.Don't plant too many roses
While foreclosure is an increasingly real threat to homeowners, few expect to lose their house based on gardening infractions. But that’s exactly what happened to a Rancho Santa Fe, Calif., resident who planted too many roses on his property. After $70,000 in fees, he lost his legal battle against the HOA and ultimately lost his home to the flower debacle.
3. Indoor drying only
As seen in a Colbert Report expose, a Bend, Oregon, resident was shocked by her HOA’s rejection of her outdoor clothesline. Her natural drying method was dubbed a hazard, and they began levying fines that totaled nearly $1,000. She eventually took down the offending line, even after the Right 2 Dry movement got behind her.
4. No mothers-in-laws allowed
If you’re a married man in Iowa, the government grants you a special privilege: you’re allowed to bar your mother-in-law from your home. While certainly useful to men trying to ditch their spouse’s mom, this law does not extend to women.
5. Only use sanctioned paint
What appears to be an inoffensive pale blue house has caused a stir recently in one Georgia neighborhood. Unaware of his HOA’s rules, a homeowner painted his house before having the color officially approved by his board. And with a $25 per day fee levied every day his house bares the offending hue, he’s already racked up $6,800 in fines on top of legal fees.
6. No service dog for the hearing impaired
Despite the Americans with Disabilities Act, a Fort Collins, Colo., HOA fined a hearing-impaired resident for keeping Pookee, her Pomeranian service dog. The HOA even threatened to put a lien on the property.
7. Don’t use ‘inconsistent’ shingles
As if it wasn’t tragedy enough when a plane fell out of the sky destroying a Sanford, Fla., man’s home, his HOA then challenged his rebuilding efforts. It threatened litigation because the shingles and elevation in his new house’s plans didn’t match his neighbors’.
Bending the rules
If you fight the law, you may lose. But there are ways to work with the restrictions of a HOA and still get your way. The first line of defense is to make sure you understand the HOA or condo association rules before you purchase the property.
It’s important to know the laws of your land and your neighborhood. Both governments and homeowners associations, or condo associations if you are a condo-dweller, can levy powerful—and sometimes incredibly strange—restrictions and requirements. Some can be pretty costly, as Pennsylvania residents recently found out with the potential new requirement for sprinkler systems in single-family homes.
1. Can’t park your car in your own driveway
In Odessa, Fla., a resident was fined by his board for parking his pickup truck in his own driveway because it wouldn’t fit in his garage. Not our problem, the HOA basically told him before slapping him with a lawsuit. After a protracted legal battle, he has since won the right to park his car, but only after two years and $200,000 in legal fees.
2.Don't plant too many roses
While foreclosure is an increasingly real threat to homeowners, few expect to lose their house based on gardening infractions. But that’s exactly what happened to a Rancho Santa Fe, Calif., resident who planted too many roses on his property. After $70,000 in fees, he lost his legal battle against the HOA and ultimately lost his home to the flower debacle.
3. Indoor drying only
As seen in a Colbert Report expose, a Bend, Oregon, resident was shocked by her HOA’s rejection of her outdoor clothesline. Her natural drying method was dubbed a hazard, and they began levying fines that totaled nearly $1,000. She eventually took down the offending line, even after the Right 2 Dry movement got behind her.
4. No mothers-in-laws allowed
If you’re a married man in Iowa, the government grants you a special privilege: you’re allowed to bar your mother-in-law from your home. While certainly useful to men trying to ditch their spouse’s mom, this law does not extend to women.
5. Only use sanctioned paint
What appears to be an inoffensive pale blue house has caused a stir recently in one Georgia neighborhood. Unaware of his HOA’s rules, a homeowner painted his house before having the color officially approved by his board. And with a $25 per day fee levied every day his house bares the offending hue, he’s already racked up $6,800 in fines on top of legal fees.
6. No service dog for the hearing impaired
Despite the Americans with Disabilities Act, a Fort Collins, Colo., HOA fined a hearing-impaired resident for keeping Pookee, her Pomeranian service dog. The HOA even threatened to put a lien on the property.
7. Don’t use ‘inconsistent’ shingles
As if it wasn’t tragedy enough when a plane fell out of the sky destroying a Sanford, Fla., man’s home, his HOA then challenged his rebuilding efforts. It threatened litigation because the shingles and elevation in his new house’s plans didn’t match his neighbors’.
Bending the rules
If you fight the law, you may lose. But there are ways to work with the restrictions of a HOA and still get your way. The first line of defense is to make sure you understand the HOA or condo association rules before you purchase the property.
Monday, August 9, 2010
Five Surprising Reasons to Buy a Home Now
Low mortgage rates serve as an equity shock absorber.
When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they can absorb a few ups and downs as the still-recovering housing market gains traction.
Houses are in move-in condition.
Home owners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. As these houses enter the market, they are in marked contrast to tattered foreclosures.
Terrific houses are coming on the market.
Foreclosures are finally starting to clear the system, and they are being replaced by some very attractive properties.
Appraisal regulations are finally aligned with market realities.
Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the current market.
Plenty of programs.
Many programs that encourage middle-class families to buy homes continue to exist, despite market downturns. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.
When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they can absorb a few ups and downs as the still-recovering housing market gains traction.
Houses are in move-in condition.
Home owners have continued to spend on maintenance and repair, according to the Harvard Joint Center on Housing. As these houses enter the market, they are in marked contrast to tattered foreclosures.
Terrific houses are coming on the market.
Foreclosures are finally starting to clear the system, and they are being replaced by some very attractive properties.
Appraisal regulations are finally aligned with market realities.
Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the current market.
Plenty of programs.
Many programs that encourage middle-class families to buy homes continue to exist, despite market downturns. Buyers who qualify can get a big boost by combining one of these programs with today's low mortgage rates.
Saturday, July 31, 2010
Record Lows Continue for Mortgage Rates
The 30-year fixed mortgage rate fell to a new low of 4.54 percent this week from 4.56 percent last week and an average of 5.25 percent a year ago.
The 15-year fixed loan rate also hit a record low of 4 percent, down from 4.03 percent a week ago and 4.69 percent last year. The five-year adjustable-rate mortgage averaged 3.76 percent, compared to 3.79 percent last week and 4.75 percent a year earlier; and one-year ARMs averaged 3.64 percent, down from 3.7 percent and 4.80 percent, respectively.
Source: The Wall Street Journal, Nathan Becker (07/30/10)
The 15-year fixed loan rate also hit a record low of 4 percent, down from 4.03 percent a week ago and 4.69 percent last year. The five-year adjustable-rate mortgage averaged 3.76 percent, compared to 3.79 percent last week and 4.75 percent a year earlier; and one-year ARMs averaged 3.64 percent, down from 3.7 percent and 4.80 percent, respectively.
Source: The Wall Street Journal, Nathan Becker (07/30/10)
Monday, June 28, 2010
Mortgage Rates Drop to Record Low
30 year fixed mortgage rates dropped to their lowest levels in 39 years according to a new survey released by Freddie Mac, the second largest mortgage finance company.
Interest rates on 15 year fixed rates and hybrid adjustable rate mortgage rates reached fresh lows as well. While record low rates and high housing affordability helped the housing market gain ground over the last year, the sector is struggling since the popular home buyer tax credit expired on April 30th.
According to a Freddie Mac survey, the average 30 year fixed rate for conventional (non-FHA and VA) mortgages averaged 4.69 percent for the week ended June 24th and is the lowest since Freddie Mac started the survey in April 1971. Still, Freddie Mac's data is at least a week old before they publish it and it has been another week since then. Rates do vary depending on credit, debt ratios, down payment, area of the country, property type, points paid and many more factors.
Interest rates on 15 year fixed rates and hybrid adjustable rate mortgage rates reached fresh lows as well. While record low rates and high housing affordability helped the housing market gain ground over the last year, the sector is struggling since the popular home buyer tax credit expired on April 30th.
According to a Freddie Mac survey, the average 30 year fixed rate for conventional (non-FHA and VA) mortgages averaged 4.69 percent for the week ended June 24th and is the lowest since Freddie Mac started the survey in April 1971. Still, Freddie Mac's data is at least a week old before they publish it and it has been another week since then. Rates do vary depending on credit, debt ratios, down payment, area of the country, property type, points paid and many more factors.
Friday, June 4, 2010
Create a Home Emergency Preparedness Kit
Hurricane season is upon us once again and having a home emergency preparedness kit could be the key to your family’s safety if disaster strikes.
Preparing a home emergency preparedness kit you hope never to use may seem like a waste of time and money. But when disasters happen that are beyond your control, you can take charge of how you respond. “What became clear in Hurricane Katrina is that in big events, the government isn’t going to come to your aid right away. You have to be prepared to take care of yourself,” says Rick Bissell, PhD, a professor of emergency health services at the University of Maryland, Baltimore. According to a 2008 FEMA survey, more than half of all U.S. households have some sort of disaster preparation in place. If yours isn’t one of them, here’s what you need to do.
First, make sure important papers are in order
If a flood destroys your home, you could spend weeks or even months just trying to re-create the essential documents you’ll need to get back on track. That’s why it’s critical to have backups of important papers, including the deed to your house, proof of insurance, medical records, passports, social security cards, and a list of personal contacts. Keep one copy at home in a portable case and another offsite in a safe place. And while you’re at it, use the opportunity to check whether your insurance is up to date. “People often don’t know what their homeowners’ insurance policy covers, and most don’t cover flooding,” points out Bissell. Find out what hazards your area faces, and make sure you’re protected against them.
Tailor a preparedness kit to your personal needs
Humanitarian organizations and government aid agencies offer guidelines for creating an emergency preparedness kit. But along with the basics like food and water, it’s important to have what you need for your particular situation.
Think about what you need for the safety of your house, too. Knowing where to find the main electrical and water shutoffs—and having the right wrench to turn them—can make the difference between a house that weathers the storm and one that experiences catastrophic flooding or fire.
A basic emergency preparedness kit
FEMA recommends you keep a “grab and go” bag with these items in case you need to evacuate:
Water: One gallon per person per day for at least three days, for drinking and sanitation; double if you live in a very hot climate, have young kids, or are nursing. Bottled water is best, but you can also store tap water in food-grade containers or two-liter soda bottles that have been sanitized. Factor in your pet’s water needs, too.
Food: At least a three-day supply of nonperishables and a can opener. Pack protein, fruit, and vegetables, but make sure they’re in a form you actually like—it’s bad enough not to have access to fresh food without also having to subsist on nothing but canned tuna. Include treats like cereal bars, trail mix, and Tootsie Rolls. Store food in pest-proof plastic or metal tubs and keep it in a cool, dry place.
Flashlights and extra batteries: “Candles are not recommended because there are many house fires caused by candles left unattended,” says David Riedman, a public affairs officer with FEMA.
First-aid supplies: Two pairs of sterile gloves, adhesive bandages and sterile dressings, soap or other cleanser, antibiotic towelettes and ointment, burn ointment, eye wash, thermometer, scissors, tweezers, petroleum jelly, aspirin or non-aspirin pain reliever, and stomach analgesics such as Tums, Pepto-Bismol, and a laxative.
Sanitation and hygiene supplies: Moist towelettes, paper towels, toilet paper, garbage bags, and plastic ties. You might also want travel-size shampoo, toothpaste/toothbrush, and deodorant.
Radio: Keep a portable, battery powered radio and extra batteries to remain connected in case the power goes out, as well as an extra cell phone charger. You can buy a good emergency radio online from the Red Cross.
Plastic sheeting, duct tape, and dust masks: In case you need to seal your home or shelter from airborne contaminants.
Extra items: A whistle to signal for help, a favorite toy or other comfort items for kids.
Extra cash and full tank of gas in your automobile.
Update your kit as your needs change, and replace food and water approaching its expiration date.
Preparing a home emergency preparedness kit you hope never to use may seem like a waste of time and money. But when disasters happen that are beyond your control, you can take charge of how you respond. “What became clear in Hurricane Katrina is that in big events, the government isn’t going to come to your aid right away. You have to be prepared to take care of yourself,” says Rick Bissell, PhD, a professor of emergency health services at the University of Maryland, Baltimore. According to a 2008 FEMA survey, more than half of all U.S. households have some sort of disaster preparation in place. If yours isn’t one of them, here’s what you need to do.
First, make sure important papers are in order
If a flood destroys your home, you could spend weeks or even months just trying to re-create the essential documents you’ll need to get back on track. That’s why it’s critical to have backups of important papers, including the deed to your house, proof of insurance, medical records, passports, social security cards, and a list of personal contacts. Keep one copy at home in a portable case and another offsite in a safe place. And while you’re at it, use the opportunity to check whether your insurance is up to date. “People often don’t know what their homeowners’ insurance policy covers, and most don’t cover flooding,” points out Bissell. Find out what hazards your area faces, and make sure you’re protected against them.
Tailor a preparedness kit to your personal needs
Humanitarian organizations and government aid agencies offer guidelines for creating an emergency preparedness kit. But along with the basics like food and water, it’s important to have what you need for your particular situation.
Think about what you need for the safety of your house, too. Knowing where to find the main electrical and water shutoffs—and having the right wrench to turn them—can make the difference between a house that weathers the storm and one that experiences catastrophic flooding or fire.
A basic emergency preparedness kit
FEMA recommends you keep a “grab and go” bag with these items in case you need to evacuate:
Water: One gallon per person per day for at least three days, for drinking and sanitation; double if you live in a very hot climate, have young kids, or are nursing. Bottled water is best, but you can also store tap water in food-grade containers or two-liter soda bottles that have been sanitized. Factor in your pet’s water needs, too.
Food: At least a three-day supply of nonperishables and a can opener. Pack protein, fruit, and vegetables, but make sure they’re in a form you actually like—it’s bad enough not to have access to fresh food without also having to subsist on nothing but canned tuna. Include treats like cereal bars, trail mix, and Tootsie Rolls. Store food in pest-proof plastic or metal tubs and keep it in a cool, dry place.
Flashlights and extra batteries: “Candles are not recommended because there are many house fires caused by candles left unattended,” says David Riedman, a public affairs officer with FEMA.
First-aid supplies: Two pairs of sterile gloves, adhesive bandages and sterile dressings, soap or other cleanser, antibiotic towelettes and ointment, burn ointment, eye wash, thermometer, scissors, tweezers, petroleum jelly, aspirin or non-aspirin pain reliever, and stomach analgesics such as Tums, Pepto-Bismol, and a laxative.
Sanitation and hygiene supplies: Moist towelettes, paper towels, toilet paper, garbage bags, and plastic ties. You might also want travel-size shampoo, toothpaste/toothbrush, and deodorant.
Radio: Keep a portable, battery powered radio and extra batteries to remain connected in case the power goes out, as well as an extra cell phone charger. You can buy a good emergency radio online from the Red Cross.
Plastic sheeting, duct tape, and dust masks: In case you need to seal your home or shelter from airborne contaminants.
Extra items: A whistle to signal for help, a favorite toy or other comfort items for kids.
Extra cash and full tank of gas in your automobile.
Update your kit as your needs change, and replace food and water approaching its expiration date.
Thursday, May 20, 2010
Wednesday, May 19, 2010
Tricks to stage your home like the pros
Even if the homebuyer tax credit has come to an end, it's still a buyers market out there, with prices back at affordable levels and mortgage interest rates near historic lows.
So for all of you sellers out there who haven't yet nabbed a buyer in the spring sales rush, it's still too early to believe that your chance has passed. But you'd better not be slacking off, either.
We've written plenty about the importance of staging your property, especially the outdoors and other areas of the home that need to make a good first impression, such as the front entry or even the front door.
You could take the spendy approach to the advice, which includes tips such as buying a bigger bed to make a room look bigger, or stage on the cheap with tricks such as using at least two sets of pillows in contrasting patterns, colors and textures, shown above, to add a little more appeal to a room.
While you're at it, don't be afraid of color, such as gold accents or simply adding a lush, green plant to a lonely corner. And contrary to popular belief, House Beautiful also says that dark walls actually can make small rooms look bigger, and that wallpaper is easy to use. But don't feel like color is a must, because white always works, too, the article says.
There are plenty of other ways to have fun with your decor. To start with, you might want to forget some of the unwritten rules about what matches, such as dining room chairs. Why not throw in a bench to mix it up a bit?
Similarly, there's no rule that you need a sofa in a living room when cozy chairs would just as easily suffice, and there's no rule that defines a coffee table. Instead of a traditional table, the article suggests you simply use an ottoman topped with a tray.
Think lighting, too. Play with a room's ambience by using four rather than two lamps, and don't forget to make sure your closet is not only adequately lighted, but also full of inspiration with photos or whatever else will help kick-start your day.
Do you have any decorating secrets that you think are key to adding appeal to a room?
So for all of you sellers out there who haven't yet nabbed a buyer in the spring sales rush, it's still too early to believe that your chance has passed. But you'd better not be slacking off, either.
We've written plenty about the importance of staging your property, especially the outdoors and other areas of the home that need to make a good first impression, such as the front entry or even the front door.
You could take the spendy approach to the advice, which includes tips such as buying a bigger bed to make a room look bigger, or stage on the cheap with tricks such as using at least two sets of pillows in contrasting patterns, colors and textures, shown above, to add a little more appeal to a room.
While you're at it, don't be afraid of color, such as gold accents or simply adding a lush, green plant to a lonely corner. And contrary to popular belief, House Beautiful also says that dark walls actually can make small rooms look bigger, and that wallpaper is easy to use. But don't feel like color is a must, because white always works, too, the article says.
There are plenty of other ways to have fun with your decor. To start with, you might want to forget some of the unwritten rules about what matches, such as dining room chairs. Why not throw in a bench to mix it up a bit?
Similarly, there's no rule that you need a sofa in a living room when cozy chairs would just as easily suffice, and there's no rule that defines a coffee table. Instead of a traditional table, the article suggests you simply use an ottoman topped with a tray.
Think lighting, too. Play with a room's ambience by using four rather than two lamps, and don't forget to make sure your closet is not only adequately lighted, but also full of inspiration with photos or whatever else will help kick-start your day.
Do you have any decorating secrets that you think are key to adding appeal to a room?
Tuesday, April 20, 2010
HOUSTON SINGLE-FAMILY HOME SALES AND PRICES CLIMB IN MARCH
Strongest sales volume continues among homes priced from $250K and above
HOUSTON — (April 20, 2010) — The rapidly approaching April 30 federal homebuyer tax credit apparently inspired Houston-area consumers to house shop, as sales of single-family homes throughout the Houston market rose in March with the strongest sales volume continuing in the upper housing segments. Prices of single-family homes also continued their months-long appreciation.
Overall March sales of single-family homes across greater Houston climbed 10.8 percent compared to March 2009, according to the latest monthly data compiled by the Houston Association of Realtors® (HAR). All single-family home pricing segments except the under-$80,000 market experienced gains, with the sharpest increases in homes priced from $250,000 and above. Sales of all property types rose 14.5 percent in March on a year-over-year basis.
Source: Houston Association of Realtors
HOUSTON — (April 20, 2010) — The rapidly approaching April 30 federal homebuyer tax credit apparently inspired Houston-area consumers to house shop, as sales of single-family homes throughout the Houston market rose in March with the strongest sales volume continuing in the upper housing segments. Prices of single-family homes also continued their months-long appreciation.
Overall March sales of single-family homes across greater Houston climbed 10.8 percent compared to March 2009, according to the latest monthly data compiled by the Houston Association of Realtors® (HAR). All single-family home pricing segments except the under-$80,000 market experienced gains, with the sharpest increases in homes priced from $250,000 and above. Sales of all property types rose 14.5 percent in March on a year-over-year basis.
Source: Houston Association of Realtors
Thursday, April 8, 2010
Texas Tradeup Appliance Program. Gone in 7 hours!
Wow! The state of Texas received more than $23 million in federal stimulus funds from the U.S. Department of Energy to establish and administer an Energy Efficient Appliance Rebate Program — the first of its kind in Texas. The Texas Trade Up Appliance Rebate Program encourages consumers to replace old appliances with new, energy efficient qualified models to stimulate the Texas economy and increasing energy conservation efforts in Texas.
The state started taking reservations for the rebates at 7:00am yesterday and ran out of funds by 2:30pm.
But just announced on Memorial Day Weekend (May 29-31)the State has plans to do a Tax Free Weekend for Energy Efficient Products. A/c units, diswashers, washing machines, cfl light bulbs, thermostats and a few other products are included.
The state started taking reservations for the rebates at 7:00am yesterday and ran out of funds by 2:30pm.
But just announced on Memorial Day Weekend (May 29-31)the State has plans to do a Tax Free Weekend for Energy Efficient Products. A/c units, diswashers, washing machines, cfl light bulbs, thermostats and a few other products are included.
Wednesday, April 7, 2010
Vacation-Home Sales Increased in 2009
Vacation-home sales recovered in 2009 while investment sales fell sharply, according to the National Association of REALTORS®. Half of vacation homes purchased last year were in the South.
Vacation-Home Buyers
· Only one in four vacation-home buyers plan to rent their properties to others.
· 26 percent of vacation-home buyers intend to use the property as a primary residence in the future.
· The vacation-home market share rose a percentage point to 10 percent.
· The median transaction price of a vacation home was $169,000 in 2009, compared with $150,000 in 2008.
· Three out of 10 vacation-home buyers in 2009 paid cash for their properties
· The typical vacation-home buyer in 2009 was 46 years old, had a median household income of $87,500, and purchased a property that was a median distance of 348 miles from their primary residence.
Vacation-Home Buyers
· Only one in four vacation-home buyers plan to rent their properties to others.
· 26 percent of vacation-home buyers intend to use the property as a primary residence in the future.
· The vacation-home market share rose a percentage point to 10 percent.
· The median transaction price of a vacation home was $169,000 in 2009, compared with $150,000 in 2008.
· Three out of 10 vacation-home buyers in 2009 paid cash for their properties
· The typical vacation-home buyer in 2009 was 46 years old, had a median household income of $87,500, and purchased a property that was a median distance of 348 miles from their primary residence.
Thursday, March 25, 2010
Monday, March 15, 2010
Friday, February 19, 2010
Mortgage rates at 2010 low -- but not for long
If you've been shopping for a home, now may be the time to buy. Mortgage rates are expected to rise sharply within the next few weeks.
Mortgage rates are close to a record low and probably won't stay there much longer. Experts say it's time to get a loan now, or you'll end up with a higher rate later.
For those who are willing and able to refinance, it is time to act. Homebuyers tend to be more influenced by home prices than by mortgage rates, but they should keep in mind that mortgage rates could be a full percentage point higher a year from now.
Mortgage rates are expected to rise because the Federal Reserve plans to stop buying mortgage-backed securities by the end of March. For the past year, the Fed has been buying more than four-fifths of newly issued mortgage bonds. When the central bank stops buying them, private investors will have to step in.
Mortgage rates are close to a record low and probably won't stay there much longer. Experts say it's time to get a loan now, or you'll end up with a higher rate later.
For those who are willing and able to refinance, it is time to act. Homebuyers tend to be more influenced by home prices than by mortgage rates, but they should keep in mind that mortgage rates could be a full percentage point higher a year from now.
Mortgage rates are expected to rise because the Federal Reserve plans to stop buying mortgage-backed securities by the end of March. For the past year, the Fed has been buying more than four-fifths of newly issued mortgage bonds. When the central bank stops buying them, private investors will have to step in.
Thursday, February 18, 2010
Not Ready Yet!
Wash Where You Flush
Toilets are one of the biggest water hogs in the home. Seattle-based ecohaus has addressed this environmental challenge by promoting the Caroma Profile, a bathroom fixture that is part sink and part toilet. Users wash their hands in the toilet tank (cleaner than you might think). That water is then repurposed for future flushes. Its dual flush component reduces water consumption by an additional 40 percent to 70 percent. The toilet and sink combo is a great space saver in smaller bathrooms. Cost: $499.99. www.ecohaus.com
Toilets are one of the biggest water hogs in the home. Seattle-based ecohaus has addressed this environmental challenge by promoting the Caroma Profile, a bathroom fixture that is part sink and part toilet. Users wash their hands in the toilet tank (cleaner than you might think). That water is then repurposed for future flushes. Its dual flush component reduces water consumption by an additional 40 percent to 70 percent. The toilet and sink combo is a great space saver in smaller bathrooms. Cost: $499.99. www.ecohaus.com
Wednesday, February 17, 2010
Are Interest Rates About to Rise?
Federal Reserve Bank of New York President William Dudley says the central bank will scale back its purchases of mortgage-backed securities late next month. While interest rates likely will climb when the program ceases, the extent of the rise remains to be seen.
Dudley says the Fed will act if rates spike too much. Still, analysts worry that the end of the MBA purchase program and expiration of the home-buyer tax credit, along with higher premiums and tighter underwriting of FHA mortgages, will work together to stifle home sales and price stabilization in the coming months.
Source: Inman News (02/08/10)
Dudley says the Fed will act if rates spike too much. Still, analysts worry that the end of the MBA purchase program and expiration of the home-buyer tax credit, along with higher premiums and tighter underwriting of FHA mortgages, will work together to stifle home sales and price stabilization in the coming months.
Source: Inman News (02/08/10)
Wednesday, February 3, 2010
Fort Bend County tops Forbes growth list
Fort Bend County is the No. 1 county in the United States to “get ahead,” according to Forbes magazine.
The county, a suburb located southwest of Houston, topped the publication’s list of counties that experienced the most income and job growth over the past few years.
The average median household income in Fort Bend County climbed 10 percent to $84,782 in 2008 from $77,082 in 2007, said Forbes. The county has also added 5,913 new jobs since the second quarter of 2007, an increase of 5 percent.
Like the rest of Texas, Fort Bend gets a healthy chunk of its revenue from the energy sector, but it also benefits from a diversity of industries - including education and hospitality -that has fueled several decades of rapid population growth.
Fort Bend County also ranked sixth on a list of the nation’s counties that experienced the most job growth in a CNN/Money Magazine poll last fall.
Fort Bend officials predict that the region’s job growth will continue. In 2009, Kansas City Southern and CenterPoint Properties’ announced an 880-acre intermodal facility and logistics park just west of Rosenberg, which is expected to create more than 750 jobs.
And, Lufkin Automation recently purchased 6.2 acres in Missouri City with plans to move their headquarters to Fort Bend County.
Source: Houston Business Journal
The county, a suburb located southwest of Houston, topped the publication’s list of counties that experienced the most income and job growth over the past few years.
The average median household income in Fort Bend County climbed 10 percent to $84,782 in 2008 from $77,082 in 2007, said Forbes. The county has also added 5,913 new jobs since the second quarter of 2007, an increase of 5 percent.
Like the rest of Texas, Fort Bend gets a healthy chunk of its revenue from the energy sector, but it also benefits from a diversity of industries - including education and hospitality -that has fueled several decades of rapid population growth.
Fort Bend County also ranked sixth on a list of the nation’s counties that experienced the most job growth in a CNN/Money Magazine poll last fall.
Fort Bend officials predict that the region’s job growth will continue. In 2009, Kansas City Southern and CenterPoint Properties’ announced an 880-acre intermodal facility and logistics park just west of Rosenberg, which is expected to create more than 750 jobs.
And, Lufkin Automation recently purchased 6.2 acres in Missouri City with plans to move their headquarters to Fort Bend County.
Source: Houston Business Journal
Saturday, January 30, 2010
Tuesday, January 12, 2010
10 Big-Impact, Low-Cost Remodeling Projects
Working with sellers who have some—but not unlimited—cash for upgrades? Here are budget-minded enhancements you can suggest to make their home stand out.
1. Tidy up kitchen cabinets.
"Potential buyers do open kitchen cabinets and look inside," says Morrissey. "Home owners can add rollout organizing trays so when buyers peek in, they feel like there’s lots of room for their stuff."
2. Add or replace tile.
"By retiling very inexpensively, you make a room look way cleaner that it was," says Javier Zuluaga, owner of Home Repairs and Remodeling LLC in Tempe, Ariz. "Every city has stores that offer $1 to $2 tile, so home owners have to pay only for the low-cost tile and labor to replace a dated backsplash or add a new one. We also use inexpensive tile to upgrade bathrooms."
3. Add a breakfast bar.
When a wall separates a kitchen from a family room, suggest cutting out an opening to create a breakfast bar. "In one home, there was a cutout in the wall between the kitchen and living room," explains Matthew Quinn, a sales associate at Quinn’s Realty & Estate Services in Falls Church, Va., who handles estate and real estate sales for family members whose loved ones have passed away. "We left the structure of the cutout, added an oversized granite breakfast bar, and put chairs in front of it. That cost about $600."
4. Install granite tile instead of a slab.
"Everybody is hot for granite kitchen countertops, but that can be a $5,000 upgrade," says John Wilder, a general contractor and owner of Fence and Deck Doctor in New Castle, Ind. "Instead, home owners can put in 12-inch granite tiles for about $300 in materials and get very high impact for little money."
1. Tidy up kitchen cabinets.
"Potential buyers do open kitchen cabinets and look inside," says Morrissey. "Home owners can add rollout organizing trays so when buyers peek in, they feel like there’s lots of room for their stuff."
2. Add or replace tile.
"By retiling very inexpensively, you make a room look way cleaner that it was," says Javier Zuluaga, owner of Home Repairs and Remodeling LLC in Tempe, Ariz. "Every city has stores that offer $1 to $2 tile, so home owners have to pay only for the low-cost tile and labor to replace a dated backsplash or add a new one. We also use inexpensive tile to upgrade bathrooms."
3. Add a breakfast bar.
When a wall separates a kitchen from a family room, suggest cutting out an opening to create a breakfast bar. "In one home, there was a cutout in the wall between the kitchen and living room," explains Matthew Quinn, a sales associate at Quinn’s Realty & Estate Services in Falls Church, Va., who handles estate and real estate sales for family members whose loved ones have passed away. "We left the structure of the cutout, added an oversized granite breakfast bar, and put chairs in front of it. That cost about $600."
4. Install granite tile instead of a slab.
"Everybody is hot for granite kitchen countertops, but that can be a $5,000 upgrade," says John Wilder, a general contractor and owner of Fence and Deck Doctor in New Castle, Ind. "Instead, home owners can put in 12-inch granite tiles for about $300 in materials and get very high impact for little money."
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