Real Estate News from Homes101™

February 9, 2010

Real Estate Outlook: Positive Movement

It's a fairly rare event, but now and then most of the important economic directional signs go positive, and this is one of those weeks.

Prepare to Avoid Buying Panic

When you buy anything in a panic, you create lots of room for regret. Buy real estate in a panic and you may lose more than you gain.

February 8, 2010

Washington Report: New Budget

Real estate took some whacks in the new 3.8 trillion dollar Obama budget presented to Congress last week, but there were some helpful proposals for housing as well.

February 5, 2010

Housing Affected by Demographic Trends

The Urban Land Institute predicts there will be two major changes beginning in this new decade in our country that will affect the housing market.

Long-Term Mortgage Rates Remain Stable and Low

McLean, VA -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS)in which the 30-year fixed-rate mortgage (FRM) averaged 5.01 percent with an average 0.7 point for the week ending February 4, 2010, up from last week when it averaged 4.98 percent. Last year at this time, the 30-year FRM averaged 5.25 percent.

Investor Report: Financing Opportunities

You've probably heard that the Obama administration's budget sent to Congress last week emphasizes helping small businesses around the country, but you may not know that it also includes lots more potential financing opportunities for purchasers, owners and rehabbers of commercial real estate.

February 4, 2010

FHA's Tighter Guidelines

The FHA just announced tighter guidelines (January 20). Insurance premiums increased from 1.75 to 2.25 percent. Seller concessions are limited to 3 percent, down from 6 percent and new borrowers with a FICO score below 580 will need a 10 percent down payment instead of the 3.5 percent now required. GASP! We have a choice. We can choose to support what they are trying to do, or we can complain loudly and keep the buying public confused.

Feds Giving Mortgage Modifications Additional Boost

It's not easy turning a potential foreclosure into a successful affordable mortgage modification -- from either side of the table.

Richard Juge, CCIM, 2010 President Details Institute's Impact on Real Estate, Industry and Economy

[Note: To follow is an excerpt of a radio show interview conducted by Peter L. Mosca, host of Income Property Investment Talk dot com, with Richard Juge, CCIM, 2010 President of the Institute, and President of RE/MAX Commercial Brokers, Inc. in Metairie, Louisiana and broker/owner of a RE/MAX office in Mandeville, Louisiana. Richard discusses how the CCIM's education, networking, and technology services and products, or what he calls "the power tools," serve as an invaluable resource to the commercial real estate owner, investor, and end user. To listen to the show archive or download an MP3, go to www.IncomePropertyInvestmentTalk.com/010610.]

February 3, 2010

Builders, Ever Hear of the Merkley Amendment?

On Christmas Eve, December 24, 2009, the Senate by a 60 to 39 vote approved the Patient Protection And Affordable Coverage Act (H.R. 3590). A large bill, as most have undoubtedly heard, was made a bit larger as language requiring small construction firms with more than five workers provide health care coverage or face stiff fines was, according to the National Association of Home Builders, "slipped into the Senate health care legislation at the last minute." That language, more commonly known as the Merkley amendment, requires that employers in the construction industry with over $250,000 in payroll or more than five workers provide health insurance for their employees or pay a penalty.