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Archive for May 2010

Post-Tax Credit Buyers May Save Money

Missing the tax credit deadline might have seemed like a big mistake to some home buyers, but waiting could have been the smartest thing to do. Interest rates have fallen so dramatically since April 30th that the typical purchaser of a $350,000 home, financed with a $280,000 mortgage, would have saved a bundle by waiting…

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Lock in Super Low Rates Today, Not Tomorrow

Borrowers eager to lock in a very low-rate mortgage should apply in the next day or two, says mortgage analyst Holden Lewis. Rates haven’t been this low since the 1950s, he says, adding that rates are unlikely to fall further. “You can float, but that’s not a smart strategy. It’s like asking for another…

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Plenty of Reasons to Buy a New Home Even After the Tax Credit

May 24, 2010 – Even though the home buyer tax credit expired on April 30 and won’t be renewed, there may never be a better time to buy a home than today, according to the National Association of Home Builders (NAHB). Many outstanding opportunities still exist for home buyers, but they may not be around…

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This Maybe Your Last Chance to Get This Great of a Deal

Mortgage Rates Continue to Drop Falling rates on U.S. government securities helped push mortgage rates down to the lowest level so far this year. The average rate on a 30-year fixed loans declined this week to 4.84 percent from 4.93 percent a week ago, reported Freddie Mac. Also, 15-year fixed loans fell to 4.24 percent…

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Eye on the Economy for May 13, 2010

Output and Job Growth Precede Housing Recovery Employment in April increased by 290,000 jobs at a seasonally adjusted rate. On top of an upward revision for March of almost 70,000, this marked the fourth month of job growth and the largest increase since March 2006. The added jobs in April included 80,000 in professional and…

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Buy Now Before Home Prices Go Up!

Housing prices are expected to increase 12.4 percent between 2010 and the end of 2014, predicts MacroMarkets, which surveyed more than 100 analysts and market strategists. Those interviewed didn’t all see the housing market in the same light. Joseph LaVorgna, a economist at Deutsche Bank predicts that home prices will rise 37 percent by the…

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Spacious and Roomy Laundry Rooms are Now a Must Have

Convenient and comfortable laundry rooms are an increasingly popular feature among home buyers. Tom Byrne, president of Rockville, Md.-based Chadsworth Homes Inc., says they are more popular than such features as studies and media rooms. “In the past few years, 30 percent of the homes we build … have a laundry room with granite countertops,…

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Lead Paint Rule's Opt-Out Provision Ends July 6

The EPA has gone forward with its proposal to eliminate a provision to its Lead: Renovation, Repair and Painting rule that previously allowed owners of older homes to opt-out of the lead-safe work practices mandated by the rule if no children under six or pregnant women resided in their home. An amendment that makes this…

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Jumbo Loans are Easier to Get

By Robert Freedman, Senior Editor, REALTOR® Magazine The jumbo market appears to be thawing, at least according to a couple of recent articles in the trade and general press. But I’d be curious to know what you’re seeing in your markets. One of the things I learned when I interviewed Vijay Lala of Bank of…

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Mike Kegley and Other Kentucky Builders Meet on Capitol Hill

On Wednesday, April 21st, builders from across the nation converged on Washington, DC to express their frustrations with the economy and the home building business climate. Seated below with Senate Minority Leader Mitch McConnell (far right) are (left to right) Mike Kegley, President Elect of the HBA of Kentucky, Jody Sharpe, State Representative to NAHB…

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