Tuesday, May 3, 2011
Wednesday, March 30, 2011
REALTOR® Magazine-Daily News-Mortgage Delinquencies Continue to Decline
REALTOR® Magazine-Daily News-Mortgage Delinquencies Continue to Decline
Mortgage Delinquencies Continue to Decline
Mortgages for single-family homes that are 90 days or more delinquent declined for the third consecutive month in February, Freddie Mac reports.
Delinquencies on single-family homes dropped to 3.78 percent in February from 3.82 percent in January. What’s more, delinquencies were lower than the 4.2% rate reported one year ago.
Freddie Mac also reported that it has completed 23,017 loan modifications for the first two months of the year. Loan modifications in February totaled 11,885 and totaled 11,153 in January.
Source: “Freddie Mac: February Mortgage Delinquencies Decline Again,” Dow Jones Business News (March 25, 2011) and “Freddie Mac Reports Drop in Single-Family Delinquencies in February,” LoanRateUpdate.com (March 28, 2011)
Mortgage Delinquencies Continue to Decline
Mortgages for single-family homes that are 90 days or more delinquent declined for the third consecutive month in February, Freddie Mac reports.
Delinquencies on single-family homes dropped to 3.78 percent in February from 3.82 percent in January. What’s more, delinquencies were lower than the 4.2% rate reported one year ago.
Freddie Mac also reported that it has completed 23,017 loan modifications for the first two months of the year. Loan modifications in February totaled 11,885 and totaled 11,153 in January.
Source: “Freddie Mac: February Mortgage Delinquencies Decline Again,” Dow Jones Business News (March 25, 2011) and “Freddie Mac Reports Drop in Single-Family Delinquencies in February,” LoanRateUpdate.com (March 28, 2011)
Wednesday, March 16, 2011
REALTOR® Magazine-Daily News-Tax Time Less Taxing for Home Owners
REALTOR® Magazine-Daily News-Tax Time Less Taxing for Home Owners
Tax Time Less Taxing for Home Owners
With a little more than one month before income taxes are due, many of the nation’s 75 million home owners may be appreciating the value of home ownership just a bit more as they take advantage of the tax benefits of owning a home.
“Owning a home offers myriad benefits throughout the year, but some of the financial advantages of home ownership are most apparent at tax time,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “As many of today’s hard-working American families are feeling a financial squeeze, the tax benefits that can come from owning a home can be a welcome relief.”
A number of tax deductions and credits are still available for home owners; these include deductions – with specific limits – for mortgage interest and capital gains on home sales, and credits for certain energy-efficient home improvements. Even with these benefits, home owners pay 80-90 percent of all U.S. federal income taxes.
“It’s been suggested that many of today’s tax incentives for home ownership primarily benefit wealthy individuals, but that’s simply not true,” said Phipps. “As today’s public debate continues about what home ownership means for families, communities, and the nation’s economy, there’s no question that for many, owning a home is still the best way to begin building wealth.”
Ninety-one percent of home owners who claim the mortgage interest deduction earn less than $200,000 a year, and the ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home in 2010 with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 4.5 percent, could save nearly $3,500 in federal taxes when they file this year.
“REALTORS® see the very real positive impact of home ownership every day with our clients,” said Phipps. “Recent proposals to reduce or eliminate the mortgage interest deduction and remove government support of the housing finance market could have disastrous consequences for the economy, not to mention making it harder or nearly impossible for millions of families to own their own homes. We believe America must continue to invest in home ownership, for the future of our families and our nation.”
For home owner tax season tips, visit www.HouseLogic.com. HouseLogic is a free source of information from NAR that helps home owners maintain and enhance the value of their homes and engage in issues that affect their local communities.
Source: NAR
Tax Time Less Taxing for Home Owners
With a little more than one month before income taxes are due, many of the nation’s 75 million home owners may be appreciating the value of home ownership just a bit more as they take advantage of the tax benefits of owning a home.
“Owning a home offers myriad benefits throughout the year, but some of the financial advantages of home ownership are most apparent at tax time,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I. “As many of today’s hard-working American families are feeling a financial squeeze, the tax benefits that can come from owning a home can be a welcome relief.”
A number of tax deductions and credits are still available for home owners; these include deductions – with specific limits – for mortgage interest and capital gains on home sales, and credits for certain energy-efficient home improvements. Even with these benefits, home owners pay 80-90 percent of all U.S. federal income taxes.
“It’s been suggested that many of today’s tax incentives for home ownership primarily benefit wealthy individuals, but that’s simply not true,” said Phipps. “As today’s public debate continues about what home ownership means for families, communities, and the nation’s economy, there’s no question that for many, owning a home is still the best way to begin building wealth.”
Ninety-one percent of home owners who claim the mortgage interest deduction earn less than $200,000 a year, and the ability to deduct the interest paid on a mortgage can mean significant savings at tax time. For example, a family who bought a home in 2010 with a $200,000, 30-year, fixed-rate mortgage, assuming an interest rate of 4.5 percent, could save nearly $3,500 in federal taxes when they file this year.
“REALTORS® see the very real positive impact of home ownership every day with our clients,” said Phipps. “Recent proposals to reduce or eliminate the mortgage interest deduction and remove government support of the housing finance market could have disastrous consequences for the economy, not to mention making it harder or nearly impossible for millions of families to own their own homes. We believe America must continue to invest in home ownership, for the future of our families and our nation.”
For home owner tax season tips, visit www.HouseLogic.com. HouseLogic is a free source of information from NAR that helps home owners maintain and enhance the value of their homes and engage in issues that affect their local communities.
Source: NAR
Tuesday, March 8, 2011
Popular Kitchen Remodeling Trends
Popular Kitchen Remodeling Trends
Remodeling kitchen trends are creating stylish kitchens with cleaner lines, built-in dining, and pops of color, according to a recent article in RISMedia.
Here are some recent trends in kitchens across the country.
1. Built-in dining areas. Eat-in kitchens are in high demand as more remodelers are opting for extensions in counters that resemble a table, either in lower or higher height to the countertop. The counter extension is different than bar seating because diners can sit around the edge and face one another, and not just sit in a row. The counter extension saves space, offers an extra buffet service, and more kitchen storage, says Deanna Carleton of Kitchen Design Group.
2. Dressing up the kitchen with lighting. An affordable way to upgrade a kitchen is just by switching out the lights, designers say. For example, hand-blown glass shades on pendant lights, contemporary drum shades, and chandeliers can quickly update a kitchen. Layers of light continue to be popular, such as with a ceiling lighting fixture combined with under-counter lighting as well as ambient lights behind a glass-front door, designers say. LED under-counter lighting and LED recessed ceiling lights are also popular.
3. Pops of color. Neutral colors in the kitchen is the safe preference, but more kitchens are adding bolder pops of color--such as in persimmon or pomegranate--to spice up the kitchen. Colored knobs, kitchen accessories, and even appliances are bringing in these pops of color. Designers say pops of color can also be brought in by the fabric choice in kitchen window seats, the upholstered seats, or window valances.
4. Striving for simplistic luxury. Clean lines and transitional designs are “in” while ornate Tuscan and French country kitchen styles are falling out of favor in the kitchen. Betty Nairn of Cabinet-S-Top in Granger Township, Ohio, says “simplistic luxury” is the kitchen trend nowadays.
Source: "8 Areas to Pay Attention to When Updating Your Kitchen," RISMedia (March 5, 2011)
Remodeling kitchen trends are creating stylish kitchens with cleaner lines, built-in dining, and pops of color, according to a recent article in RISMedia.
Here are some recent trends in kitchens across the country.
1. Built-in dining areas. Eat-in kitchens are in high demand as more remodelers are opting for extensions in counters that resemble a table, either in lower or higher height to the countertop. The counter extension is different than bar seating because diners can sit around the edge and face one another, and not just sit in a row. The counter extension saves space, offers an extra buffet service, and more kitchen storage, says Deanna Carleton of Kitchen Design Group.
2. Dressing up the kitchen with lighting. An affordable way to upgrade a kitchen is just by switching out the lights, designers say. For example, hand-blown glass shades on pendant lights, contemporary drum shades, and chandeliers can quickly update a kitchen. Layers of light continue to be popular, such as with a ceiling lighting fixture combined with under-counter lighting as well as ambient lights behind a glass-front door, designers say. LED under-counter lighting and LED recessed ceiling lights are also popular.
3. Pops of color. Neutral colors in the kitchen is the safe preference, but more kitchens are adding bolder pops of color--such as in persimmon or pomegranate--to spice up the kitchen. Colored knobs, kitchen accessories, and even appliances are bringing in these pops of color. Designers say pops of color can also be brought in by the fabric choice in kitchen window seats, the upholstered seats, or window valances.
4. Striving for simplistic luxury. Clean lines and transitional designs are “in” while ornate Tuscan and French country kitchen styles are falling out of favor in the kitchen. Betty Nairn of Cabinet-S-Top in Granger Township, Ohio, says “simplistic luxury” is the kitchen trend nowadays.
Source: "8 Areas to Pay Attention to When Updating Your Kitchen," RISMedia (March 5, 2011)
Wednesday, January 19, 2011
The Color of the Year for 2011
Last year, turquoise brightened up home interiors across the country, but now a new color has stepped into the spotlight for 2011.
Pantone recently announced honeysuckle — a reddish pink hue — as this year’s “in” color.
“Honeysuckle is a captivating, stimulating color that gets the adrenaline going – perfect to ward off the blues,” Leatrice Eiseman, executive director of the Pantone Color Institute, said in announcing the color choice. “The intensity of this festive reddish pink allures and engages. … Honeysuckle may also bring a wave of nostalgia for its associated delicious scent reminiscent of the carefree days of spring and summer.”
Admittedly, this year’s more feminine color choice may be a little more challenging to weave into interiors when staging properties for sale. But for you staging masters out there, if you’ve used honeysuckle-like colors in your properties, we want to see how you did it! Send your photos to mtracey@realtors.org and we’ll feature them at Styled, Staged & Sold.
by Melissa Tracey
Filed under: Home Trends
By Melissa Dittmann Tracey, REALTOR® Magazine
Pantone recently announced honeysuckle — a reddish pink hue — as this year’s “in” color.
“Honeysuckle is a captivating, stimulating color that gets the adrenaline going – perfect to ward off the blues,” Leatrice Eiseman, executive director of the Pantone Color Institute, said in announcing the color choice. “The intensity of this festive reddish pink allures and engages. … Honeysuckle may also bring a wave of nostalgia for its associated delicious scent reminiscent of the carefree days of spring and summer.”How to incorporate it: Liven up an interior space with honeysuckle patterned pillows, bedspreads, or tabletop accessories, Pantone suggests. Or, for an even bolder statement, paint an accent wall in honeysuckle for a burst of energy in the kitchen, hallway, or family room, Pantone says.
Admittedly, this year’s more feminine color choice may be a little more challenging to weave into interiors when staging properties for sale. But for you staging masters out there, if you’ve used honeysuckle-like colors in your properties, we want to see how you did it! Send your photos to mtracey@realtors.org and we’ll feature them at Styled, Staged & Sold.
by Melissa Tracey
Filed under: Home Trends
By Melissa Dittmann Tracey, REALTOR® Magazine
USDA Grants Aim to Improve Rural Living
The U.S. Department of Agriculture is taking steps to improve the quality of life in rural areas, which often lack access to modern amenities such as high-speed Internet, affordable electricity, and clean water supplies.
The USDA is extending funding to help reduce energy costs for residents who live in remote rural areas.
"These grants will help home and business owners offset rising energy costs by financing energy efficiency and power generation improvements to deliver energy in a more cost-effective and environmentally appropriate way," says Agriculture Secretary Tom Vilsack.
Many of the communities that will be using the grants to improve energy efficiency are in Alaska.
Source: “Rural Initiatives,” Realty Times
The USDA is extending funding to help reduce energy costs for residents who live in remote rural areas.
"These grants will help home and business owners offset rising energy costs by financing energy efficiency and power generation improvements to deliver energy in a more cost-effective and environmentally appropriate way," says Agriculture Secretary Tom Vilsack.
Many of the communities that will be using the grants to improve energy efficiency are in Alaska.
Source: “Rural Initiatives,” Realty Times
Emily Lee
call/text 606-499-7836
w/The Realty Group II
broker:423-869-5111
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