Buy Low — Sell High

Demand for home mortgages — at a 13-year low

Refinancing — near record-low mortgage rates  (Mortgage Bankers Association)

These rock-bottom borrowing scenarios are perfect for buyers/borrowers with pristine credit to build and buy (and those who still have equity in their homes to refinance.)

Worries that prices could dip further are keeping some potential buyers on the sidelines, but waiting too long at this point is more of a gamble than acting now.

The April 30 expiration of homebuyer tax credits sapped summer purchasing activity. Loans to buy homes have fallen in nine out of the 10 weeks since the credit expired.

Prices have toppled about 30 percent, on average, from their peaks four years ago, according to Standard & Poor’s/Case-Shiller indexes.

 

The time to buy, build or remodel your home is now, before the rush begins.

 

We’re happy to discuss your particular situation. Drop me a note: gary@raewaldman.com

 

Tech Toolbox – Solar, Celing Fans and Calculators for the Homeowner

Solar Technology, Celing Fans Galore and Financial Calculators, all for the benefit of you, the Homeowner.

I’m always looking for ways to make homeowners, and their homes, better, simpler, safer and more efficient. Today we have a few helpful items that can save you money, and add comfort to your life.

There is a handy Finance Calulator on Realtor.com that provides an estimate of the home price you can afford. It’s easy, and a little fun to play with the numbers. Keep it handy, or share with a friend you think might like it.

Whether you are building a new home, or renovating an existing home, energy efficiency is always a consideration. Within the energy industry, new solar technology is finding new and better ways to get us all using solar energy. Check out this idea: solar lease.  Now homeowners can go solar without any upfront cost and save money from day one. Go Solar for $0? Solar City says it’s so –solar without the high initial cost of installing a system. Instead of buying the equipment, you simply lease it. Thet got me interested enough for a closer look.

One reason that lots of people are turning to ceiling fans these days is to reduce their energy usage. Therefore, it’s important to get the most efficient ceiling fan possible. And if you are in the market for a ceiling fan, one of the best collections or ceiling fan ratings and reviews )including energy star listings) is at Ceiling Fan Wizard.  No matter what your needs are for ceiling fans, you may find your answer on this site.

Tell me what you think. I’m always interested in. And keep those questions coming!

Thanks

Your Home Is Your Castle – to Renovate and Repair

Your home is your castle. That sentiment feels especailly true around Saint Patrick’s Day. But many a fine castle fell into disrepair, even as the King or Queen reveled in its majesty. Don’t let any self-induced blarney keep you from facing the facts about what you need to do.



After more than three years of a painful housing swoon, it appears that lower prices, attractive morgage rates and a continued tax break from Uncle Sam may well create the most vibrant spring home-selling season in the last four or five years.


But even as the market perks up, buyers are likely to retain the upper hand throughout 2010. Now is the time to boost your home’s sales price with a few simple remodeling and renovation efforts:


1. The Castle Walls. If your exterior isn’t appealing, you start with a big negative. Fix up the front-entry portion of the house and make your entire property more inviting. The outside of your home oi the first signal that buyers have about the way you care for you home. They will interpret it strongly. Pay it the sam attention.


2. The Royal Garden: Make sure your lawn, trees, hedges and plantings are maintained to make your home more alluring to prospective buyers. Adding a little color to the flower beds is a plus, too.


3. Paint the Walls: A fresh coat of paint on your home’s interior is a cost-effective way to make your castle more appealing. Be conservative with color of the paint, but splurge on the quality. Better paint covers more thoroughly, more quickly and saves money in the long run.


4. Flooring. Look closely. Does your home need new carpeting, new or refinished flooring? Buyers notice the floors. Large open areas get the buyer’s attention. Make sure those areas have yours.


5. Repairs: Homebuyers aren’t interested in fixing anything in your castle. Make your home perfect for a buyer by fixing all existing problems— a leaky roof, weathered or cracked patio, a pool that needs relining — before you put the property on the market. It may be worth calling in a home inspector or renovation expert to consult with on what’s important to address.


Next time: five more tips to ready your castle for sale.


I am grateful for the lawn that needs mowing, windows that need cleaning, and floors that need waxing because it means I have a home. (Irish saying)

Ya Gotta Have Heart….All You Really Need is Heart

So, February is American Heart Month, and becase it is, I am taking this opportunity to remind all my readers a few things about the heart.

1. Home is where the heart is. My business is homes. Building them, selling them, remodeling them. But while it is a labor, it is also a love. There are few pleasures in my life that equal that of showing a client their new or remodeled home; it is a far different thrill than getting the newest tech gadget, or even heading on a pleasure trip. A home is special. It is where your story begins; where a family grows and leaves and comes back to. I see that in every home I touch. It touches me back. That is why I love my buiness; it fills my heart.

2. “The quickest way to a man’s heart is through his stomach.” I believe that is probably equally true for women, but don’t let me digress. Within a home, the most important room is the kitchen, by far. With February here, the winter holidays in the rear view mirror, and Spring around the corner, this is the perfect time to consider how you might like to expand or renovate your kitchen. Find a spot in your kitchen that lets you take a long quiet view. Contemplate the possibilities. Let your imagination run. Make your kitchen something that warms your heart and your family’s. The time is right.

3. And speaking of food, this month, why not have a heart? Many people are struggling with unemployment, and making difficult choices between food and other basic necessities, including the pressures of skyrocketing healthcare costs. The recent Hunger in America study revealed increasing numbers of people around the country that have to choose between buying food and paying for utilities, their rent or a mortgage, or their medical bills. Clearly, many are hurting. We can all help, at least a little. Make a meal for a down-and-out friend, an unemployed family, an elderly neighbor. Nothing feeds the soul like a home-cooked meal (and it doesn’t hurt the stomach either).

If you can’t cook – donate. Food, money, time. In my own county, the Tarrant Area Food Bank  serves as a central clearinghouse for a 13-county area to hundreds of partner agencies serving abuse victims, children, the elderly, the chronically ill, the unemployed, the working poor, the homeless and other Texans in need. (If you now someone that needs food, they can call them at 817-258-8100.)

For those of you around the country, find a food bank in your own area and make a donation this month. Then write me about it. Love to hear what people are doing out there.

Make your heart feel good.

It is — and Promises to Continue to Be– a Buyer’s Market for Homes

Almost 9 ½ percent of America’s homeowners are delinquent on their mortgages.

But a built-up inventory of homes listed at prices well below previous years has created a buyers’ market. Pair that with the government-funded homebuyer tax credit (having extended the $8,000 credit through April 30, 2010) and a recession that appears to be waning, and you have recipe for looking for that new home.

Foreclures are driving the availability. 3.4 % of US households are 120+ days overdue on their mortgage – but not yet in foreclosure. That is up from 1.5% one year ago. That means more homes will be hitting the market in 2010. Almost 10 percent of Texans were behind in their home loan payments during the third quarter. And about 2 percent of the state’s mortgage holders were in foreclosure at the end of September. In the Dallas-Fort Worth area, more than 61,000 homes were threatened with foreclosure this year – up 23 percent from 2008.

According to TransUnion, mortgage delinquencies remain highest in the four states where the crisis has hit the worst:

– Nevada, @ 14.5 percent, is up from 7.7 percent a year ago.

– Florida, @ 13.3 percent, is up from 7.8 percent last year.

– Arizona, @ 10.4 percent, is up from 5.5 percent in 2008.

– California, @ 10.2 percent, jumped from 5.8 percent last year.

North Dakota remains the state where mortgage holders most often paid on time, with just 1.7 percent delinquency, up from 1.4 percent last year.

Take a Second Chance at Being a First-Time Home Buyer

The “first-time homebuyer credit” was the real estate world’s Cash for Clunkers. And the Fed is making a further attempt to be helpful to would-be home-buyers these days.

First-time home buyers, (you have not owned a home during the three-years prior to purchase) may be eligible for a tax credit of 10% of the home purchase price, up to a maximum of $8,000. But more interestingly, current homeowners (you’ve been in the house for five straight years out of the last eight and are buying a principal residence) may well also be eligible for a tax credit of 10% of the home purchase price, up to a maximum of $6,500. All U.S. citizens who file taxes are eligible to participate in the program.

Income Limits
The just-passed credit welcomes a whole new income bracket to the closing table. Home buyers who file as single or head-of-household taxpayers can claim the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers) if their modified adjusted gross income (MAGI) is less than $125,000. For married couples filing a joint return, the combined income limit is $225,000. Single or head-of-household taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit. (The credit is not available for single taxpayers whose MAGI is greater than $145,000 and married couples with a MAGI that exceeds $245,000.)

Buy Now and Save
The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010.

All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. (Vacation home and rental property purchases do NOT qualify. )

The tax credit is refundable, which means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference. The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.

For more information, go to: http://www.federalhousingtaxcredit.com