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Wednesday, August 8, 2012
Tuesday, July 17, 2012
Emerald Coast On The Rise
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Thursday, July 12, 2012
Home Ownership
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Wednesday, July 11, 2012
Housing Bust Is Over!
NEW YORK (CNNMoney) -- Mortgage rates fell again this week, smashing previous record lows, according to a regular weekly release from mortgage giant Freddie Mac.
The rate for a 30-year, fixed-rate loan, the most popular mortgage product, dropped to 3.62% from 3.66% last week. The rate has matched or hit a new low for 10 of the past 11 weeks, Freddie Mac said. Meanwhile, the 15-year fixed rate fell to 2.89%, down from 2.94%.
"Recent economic data releases of less consumer spending and a contraction in the manufacturing industry drove long-term Treasury bond yields lower over the week, and allowed fixed mortgage rates to hit new all-time record lows," said Frank Nothaft, Freddie Mac's chief economist.
The 15-year fixed-rate mortgage is popular among homeowners who are seeking to refinance or to trade-up and minimize their total interest payments. At the current rate, a borrower financing $200,000 would pay $1,370 a month and spend a total of just under $47,000 in interest over the 15-year span of the mortgage.
Buyers who want to minimize their monthly payments by opting for a 30-year loan would have payments of just $911 a month on a $200,000 loan. But they would pay $128,000 in interest over the life of the loan.
Monday, July 9, 2012
Mortgage Market Makeover
Agency plans home mortgage market makeover
WASHINGTON – July 9, 2012 – The Consumer Financial Protection Bureau says it’s planning for some major changes to the home mortgage market in the next six months. Its main goal: to improve the fairness and clarity for borrowers applying for home mortgages.
The newly created agency has made the mortgage market its top agenda item.
“It’s the market where consumers have the most at risk, and they have the most at stake,” Richard Cordray, the bureau’s director, told The New York Times. “I expect that the mortgage market in the fairly near term will look different in the sense that, first of all, it will be a clearer and more straightforward place for consumers; and second, it will be a more reliable market.”
As a first step, the agency says it will propose new lender rules later this summer for revising “good faith estimate” forms, the forms which homebuyers receive before closing that lists borrowers’ costs. The agency wants the forms to clearly state the interest rate on the loan that borrowers will pay, how this rate potentially could change over the term of the loan, and exactly how much cash they’ll need at closing.
The agency says the changes will help make often-confusing forms more understandable and complete for buyers.
The agency also has plans to overhaul how mortgage servicers provide services to borrowers facing foreclosure, requiring clearer information and improved service options.
“If we do all of those things from beginning to end, I think the mortgage process will work better,” Cordray said. “And that’s good for the economy.”
Source: “New Agency Plans to Make Over Mortgage Market,” The New York Times (July 5, 2012)
The newly created agency has made the mortgage market its top agenda item.
“It’s the market where consumers have the most at risk, and they have the most at stake,” Richard Cordray, the bureau’s director, told The New York Times. “I expect that the mortgage market in the fairly near term will look different in the sense that, first of all, it will be a clearer and more straightforward place for consumers; and second, it will be a more reliable market.”
As a first step, the agency says it will propose new lender rules later this summer for revising “good faith estimate” forms, the forms which homebuyers receive before closing that lists borrowers’ costs. The agency wants the forms to clearly state the interest rate on the loan that borrowers will pay, how this rate potentially could change over the term of the loan, and exactly how much cash they’ll need at closing.
The agency says the changes will help make often-confusing forms more understandable and complete for buyers.
The agency also has plans to overhaul how mortgage servicers provide services to borrowers facing foreclosure, requiring clearer information and improved service options.
“If we do all of those things from beginning to end, I think the mortgage process will work better,” Cordray said. “And that’s good for the economy.”
Source: “New Agency Plans to Make Over Mortgage Market,” The New York Times (July 5, 2012)
Friday, July 6, 2012
Tuesday, July 3, 2012
Green Clean!
Green Housecleaning Makes a Healthier Home
Green cleaning is on the rise. Many homeowners and professional housecleaners are trading their bleach, pine-scented and other potentially toxic cleaning chemicals in for more environmentally friendly and all-natural cleaners.
"Spraying potentially toxic chemical-based cleaners into the air, pouring them down the sink or dumping them in landfills has a negative effect on both our health and our environment," says Angie's List founder Angie Hicks. "Your home no longer needs to smell like bleach or other chemicals to be considered clean. There are plenty of all-natural cleaning products that do an equally effective job, are easy on your pocketbook and are better for you and your family's health and for Mother Earth."
Many professional housecleaners are relying on biodegradable, non-toxic cleaners like baking soda, white distilled vinegar and some essential oils with disinfectant qualities (lemon, tea tree oil and eucalyptus, for example) to clean and disinfect. Distilled vinegar, for example, will kill nearly all bacteria with which it comes into contact, while baking soda is great for scrubbing out stains and even freshening up carpets and sink drains. Some cleaning companies make a concerted effort to find other ways to further reduce their environmental impact, like cleaning and reusing towels and rags instead of using and throwing away power towels or sponges.
"As awareness for eco-friendly cleaning increases, many cleaning companies are turning exclusively to non-toxic products or are willing to supply them at a customer's request," Hicks says. "Homeowners interested in hiring an eco-friendly housecleaner should still do their research before they hire and ask what products the housecleaner plans to use. Also check that the housecleaner is licensed, insured and bonded. That protects the company and the homeowner in the event an employee is injured on the job or damages property.
Consumers interested in purchasing eco-friendly cleaning products should always read the ingredient list to determine what the product is really made from. Many over-the-counter cleaning products are touted by the manufacturer as being green but still contain chemicals.
"It's never too late to go green when you clean," Hicks says. "Box up all those chemicals you no longer want and take them to a local hazardous waste center. Replace them with all-natural cleaning products or by using an eco-friendly cleaning service. Your home will still smell and look great."
Professional housecleaners are often a great value for busy homeowners, as they are often able to do the job in a fraction of the time it would take the average homeowner. Some professionals offer one-time cleans or can set you up on a less frequent rotation.
A typical cleaning includes dusting, vacuuming, mopping, cleaning of bathrooms and wiping down of all hard surfaces. There are projects many cleaners won't take on or will charge extra for, like doing dishes, laundry, washing windows; or deeper cleans, like refrigerators, cabinets and stoves.
Always spell out your expectations before you hire and make sure you are clear on how the company bills its customers.
To keep your home cleaner longer, professional housecleaners recommend minimizing clutter and sweeping and vacuuming between cleanings.
Copyright© 2012 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Summer Renovations
Getting Ready for Summer Renovations?
Remember - a home is a system of electrical, heating, lighting networks which work together to create a warm and safe abode. So, an important part of all summer renovations is the careful consideration of the electrical wiring in your home.
If you're planning on building a recreation room, enhancing your kitchen or making over your living room, you should design your layouts around each room's key features. So, keep in mind where all electrical outlets will need to be for lights, appliances and electronics. Considering heated floors or ceiling fans? You will need a reliable, well-trained electrician to plan out the installation of these features and determine how to best install electrical wiring.
Wall plans are also required in order to lay out your house wiring. You'll have to ensure that you enlist the help of a professional electrician to help you draw out the plans in advance so that you can get the necessary permits without delay. You may find your electrical wiring needs upgrading to maintain safety in your home and meet housing standards. As such, renovation jobs can take longer than originally planned; so, always add extra time to allow for setbacks.
If you are tearing down any walls in your home, make sure that an electrician determines where all electrical wiring is located. Once you begin the process, it may be too late to employ a quick fix if something goes wrong.
Extra-Low Mortgage Rates
3 Reasons Not to Refinance at Extra-Low Rates
Here are 3 warning signs for not refinancing your home at a lower rate:
-You're one of the many homeowners who owe more than what the home is worth. Lenders may ask you to pay a higher rate of interest, perhaps a quarter or half percent more than the average national home loan interest rate, mortgage brokers say. Even worse, a prospective lender may ask you to pay property mortgage insurance, which will add thousands of dollars to the cost of your loan, says Deerfield Beach, Fla., financial planner Blair Shein.
-There's a chance you might move to take a new job. If you don't stay in your home for at least two years then you may actually lose money on refinancing, says Plantation, Fla., financial planner Matt Saneholtz, who is president of the Financial Planning Association of Greater Fort Lauderdale. That's because you won't have time to recoup the closing costs, he said.
-You will end up paying more. If you have less than five years to pay, then you will generally pay more if you take out a longer loan, even if it offers a much lower interest rate, Shein said. That's because the longer loan length means more interest costs although your monthly payment will be smaller, he says. You only come out ahead if you continue making your existing loan's bigger payments on the new loan. That will ensure you will pay less interest - and pay off the loan even quicker, he said. "But the reality is that most people don't that," Shein says.
Homeowners should examine all the costs before signing up for a new loan. "Do the math," financial planner Saneholtz says. And beware of the hidden closing costs: You may not have to pay any when you sign for the mortgage, but those costs will be added to your new loan - often involving thousands of dollars, he says.
©2012 Sun Sentinel (Fort Lauderdale, Fla.) Distributed by MCT Information Services and RISMedia
Sunday, July 1, 2012
Wednesday, June 27, 2012
Turtles
South Walton’s sugar-white sand beaches are a big draw for visitors, but they’re also home to some of the area’s tiniest residents. During the months of May through October, endangered sea turtles build nests in that sand, and need the help and consideration of human beachgoers in order to thrive and survive.
The two most common species of turtles in South Walton are Green Sea Turtles and Loggerheads. In the late spring and early summer, female sea turtles that were born in South Walton return to build nests. Later in the summer and in the early fall, the turtle eggs in the nests begin to hatch, and the hatchlings use light reflected off the surf to guide them into the ocean. South Walton has a dedicated team to help identify and protect the turtles, but there are things that beachgoers can do to make sure their efforts are a success:
- Prevent all lights from illuminating the beach– Turn off balcony and porch lights and draw blinds each night. Use only flashlights with red film covers (which are available at area businesses and the Visitor Information Center) as sea turtles become disoriented on their crawl back to the surf.
- Look but don’t touch – Do not disturb or handle any sea turtles, their eggs or their nests. All are violations of both federal and state laws.
- Don’t leave holes – Fill in any holes you dig including holes left from sticking poles and beach umbrellas into the sand. This will ensure others don’t get injured and that you don’t create obstacles for nesting sea turtles.
- Keep the beach clean – Reduce litter by disposing of your trash properly and removing all personal items from the beach each night.
Visit South Walton is a proud sponsor of these efforts. To find out more, visit southwaltonturtlewatch.org.
Tuesday, June 26, 2012
Monday, June 25, 2012
Beautiful Day in Destin, Florida!
Saturday, June 23, 2012
Mortgage Rates Continue To Drop!
Florida Housing Market
The recovery in Florida's housing market continues to grow stronger and stronger. Pending sales up 43.1% for single family homes and up 33.4% for condos/townhomes. Some areas in Florida are having a shortage of inventory which is resulting in multiple offers.
Saturday, May 26, 2012
Destin, Florida Crab Island
Wednesday, May 23, 2012
Friday, May 4, 2012
Monday, April 30, 2012
Existing-Home Sales Decline in March but Inventory Down, Prices Stabilizing
Existing-home sales were down in March but continue to outpace year-ago levels, while inventory tightened and home prices are showing further signs of stabilizing, according to the National Realtors Association.
Wonderful Events on the Emerald Coast for May and June! Click on this link to see all that this area offers. Something for everyone!!!
Events on the Emerald Coast in May!
Thursday, April 19, 2012
Monday, April 16, 2012
Monday, April 9, 2012
Friday, January 6, 2012
Retired Moving To Florida In Large Numbers!
Monday, January 2, 2012
Home Sales Contracts Continue to Rise
Dec 29 2011, 4:04PM
The National Association of Realtors® (NAR) announced on Thursday that pending home sales in November reached the highest levels seen in 19 months. The NAR Pending Sales Index, generally seen as a leading indicator of the level of sales over the next 30 to 90 days, increased 7.3 percent from October figures to an index of 100.1 and is 5.9 percent above November 2010 when the index was 94.5.
The November reading is the highest since April 2010 when it reached 111.5 near the end of eligibility for the popular homebuyers tax credit which expired the following June 30. The Pending Home Sales Index is based on signed contracts for home purchases and does not reflect transaction closings.
The November reading is the highest since April 2010 when it reached 111.5 near the end of eligibility for the popular homebuyers tax credit which expired the following June 30. The Pending Home Sales Index is based on signed contracts for home purchases and does not reflect transaction closings.
Kiplinger’s Housing Forecast: Positive Signs Offset the Negative
The median home price in the U.S. has plunged nearly 40% in a little over five years, but the worst is definitely over, according to a recent report by Kiplinger: The market has finally wrung out the last excess valuations born of the housing bubble. Before you break out the party hats, note that this doesn't mean prices across the nation are poised to rebound anytime soon. Alex Villacorta, director of research and analytics at Clear Capital, a provider of real estate data and analytics, said the housing market is in a "suspended state," with positive and negative factors offsetting one another. But he doesn't expect another free fall in prices, assuming "things are left to work themselves out and there are no further shocks to the economy
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