Real Estate Information Archive

Blog

Displaying blog entries 11-16 of 16

Economic Times Are Changing: How Can You Save Money In Your Home?

Wednesday, February 11, 2009
by lheraty
Businessman holding a piggy bankIn regards to your home, most money-saving ideas cost money to implement. Over time, most homeowners come to accept this inevitable fact of home ownership. That being said, there are some things that are relatively inexpensive that you can do to save money. The best part of them is that the cost can be recovered very quickly, which leaves you almost no excuse not to implement them. One of these ways is to install programmable thermostats. Whether you live in a cold-weather state and need your heat on most of the year, or you live in a warm-weather state and cannot live without air-conditioning, pre-setting your indoor temperatures will save you a lot of money! Installing programmable thermostats can cost anywhere from $50 to $150. This investment allows you to set your heating and cooling to fluctuate at a desired controlled temperature throughout the day and night. For instance, when you sleep you can lower your heat dramatically and have it programmed to turn up on your waking hour. Don’t forget to shop around and compare prices and deals, as many utility companies offer rebates on high-tech thermostats. For more information about calculating energy costs see the Department of Energy.

927 Snowy Owl

Tuesday, February 10, 2009
by crussell
Stero with surround sound in basement, alarm system, fenced yard with gate, gorgeous landscaping [gallery]

United States Senate Approves $15,000 Tax Credit For Home Buyers

Saturday, February 7, 2009
by lheraty
American flagwater ripple and water drop falling in the middleIf you decide to purchase a home within the next year, you will be entitled to a $15,000 tax credit, thanks to an amendment written by Georgia’s Senator Johnny Isakson. This amendment to the economic stimulus bill will be available to any home buyer within a year of it’s enactment. Homebuyers will be entitled to claim a total tax credit of $15,000 or 10% of the purchase price, whichever is less.  To avoid possible abuse of this credit, it is only allowed for your primary residence and will only have to be re-paid if said house is sold within two years of purchase. Isakson has a lot of experience in the Real Estate market, as he ran one of the most successful Real Estate Brokerage companies in the Southeast for twenty years. He is convinced that this credit will work because of a similar tax break Congress introduced in the mid-1970’s, when our country was in the midst of a housing crisis similar to the one we are faced with today. The results back then were positive, as home values did eventually stabilize and the market recovered.

New Tax Credit to Watch

Thursday, February 5, 2009
by crussell
If you haven’t heard of the Housing and Recovery Act of 2008, listen up! It’s old news! There’s been a $7500 tax credit in place for all first time home buyers since the bill passed last year in April. It will expire in 2009. If you want some assistance getting moved in your new home, and you’re a first time buyer or haven’t bought a home in a while, then this is a great way to get help with moving expenses, etc. But the NEWS is about this bill that just passed the senate… • Provide a direct tax credit to any homebuyer who purchases any home • Amount of the tax credit would be $15,000 or 10 percent of the purchase price, whichever is less • Purchases must be made within one year of the legislation’s enactment • The tax credit would not have to be repaid • The amendment would allow taxpayers to claim the credit on their 2008 income tax return • Only purchases of a principal residence • Recapturing the credit if the home is sold within two years of purchase • Would sunset the current $7,500 housing tax credit on the date of enactment. This has passed the Senate, but the entire bill does need to go back to the House, and be signed by the President. There could be many changes before this happens, or not pass at all. But is it a bright piece for us in the Real Estate industry and would help the housing crisis immensely as you can imagine. Christian Russell writes a blog on the economy, real estate and success in business called My One Hundred Things.

Research Is Suggesting That Large Homes May Become A Thing Of The Past

Wednesday, February 4, 2009
by lheraty
Red housesRecent data is showing that homes being built today are smaller than they were in the beginning of 2008. In the third quarter of 2008 median home size was 2,090 square feet, down from 2,629 square feet in the second quarter of 2008. With housing prices dropping and the economy weakening, homeowners may be looking at homes with less unused space, more energy efficiency and a home that better fits their overall needs. There is more of an interest in economizing space and making one room of the home a more flexible space that can be used for a myriad of activities. Outdoor kitchens and entertaining areas are becoming more popular as square footage decreases. Research shows that builders are paying very close attention to what buyers want. The National Association of Home Builders is reporting that 88% of homebuilders surveyed plan to build more smaller homes, and that 89% of homebuilders surveyed claim that they plan to build lower-priced homes.

Be Aware That Freddie Mac Has Introduced New Fees And Has Increased Others

Wednesday, February 4, 2009
by lheraty
Abstract doorSince home prices have continued to fall, Freddie Mac has determined that they are at a heightened risk of many more mortgage defaults and claims.  They report that there may be even more of a housing price decrease in 2009. In light of this news they have increased several fees and added new ones. One of their new fees is a 0.75% fee of the loan amount on certain condominium mortgages when the loan equals more than 75% of the estimated condominium value. Their increases include fees on the following types of mortgages:
  • Loans that let borrowers pay interest in the primary years and defer principal payments
  • Refinance loans that allow the borrower to cash out some of their home equity
  • Loans with certain combinations of low credit scores and down payments
  • Condominium mortgages
The National Association of Realtors and the National Association of Home Builders have protested these increases, as they claim that these additional costs are discouraging potential home buyers and people considering refinancing their loans.

Displaying blog entries 11-16 of 16

Syndication

Categories

Archives

Contact Information

Photo of Cathy Russell Real Estate
Cathy Russell
The Russell Company
2522 Covington St.
West Lafayette IN 47906
(765) 426-7000
(765) 335-5588
Fax: (765) 497-1003
Send an Email