February 2011

Found 3 blog entries for February 2011.

It seems that we were never lacking for additional nuisances in real estate during 2010. Throughout the year we experienced a number of unprecedented events that had a significant impact on our local real estate market. And, as we enter 2011 the stage is set for another defining year.

The Conclusion of the Buyer Tax Rebate

As of April 30th of 2010 the Tax Rebate ended for all but military personnel. This routinely modified attempt by our government to intervene in the free market system was marred by variations to the program, to include rebate amounts, whether it was to be repaid or not, and starts and stops that seemed to have no rhyme or reason, and delays in qualified recipients receiving the rebates.

We did however see prices on homes increase

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Excessive built up lint inside clothes dryer cabinets and vents causes more than 15,000 fires every year, with an estimated 97 million dollars in property loss. Considering the stakes involved and the frequency of residential dryer fires, the topic of dryer venting deserves more attention than it gets.

What causes lint fires? 

Lack of maintenance is the leading cause of dryer fires.  Clothes dryers must vent hot air to the outside of the home. If lint builds up in the dryer vent or inside and around the dryer cabinet, it can block the flow of air causing the dryer to perform poorly, raising the operating temperature of the dryer and causing over heating. The lint can be ignited by electric heating elements, gas burners or even a spark from the motor, and

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Is Smaller Always Better? It Depends!

No, the phrase is actually “bigger isn’t always better,” but in the mortgage world, smaller is the way to go, right? Smaller monthly payments… interest rates… etc. Smaller is always better; maybe not when it comes to down payments on a home purchase.

A few months ago, Fannie Mae reintroduced their 3% down conventional loan. With only a 3% down payment required to qualify for the loan, that means there is a conventional loan program out there with a smaller down payment requirement than an FHA loan (203b needs 3.5% down). That means the conventional product is better, right?

The Answer is in the Comparison

  • 3% down conventional: $250,000 purchase price means the loan amount is $242,500. At a rate of 4.75%,
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