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Deepest Condolences to Family and Victims of Terrorist Attack in Moscow

I would like to express the deepest and most heartfelt condolences to Family's and Victims of the recent attack on the Moscow Subway.

 The planners of this attack must be brought to stand before the bar of Justice. Attacks like this are an act of cowardice aimed at people that have no involvement in the terrorist perceived problems.  The were just folks going to or coming home from work.  Like the attack's in the US and many other places worldwide the targets of these attacks are not military  type targets.  Quite simply they are attacks against the people of the  country who have little or no impact of governmental policy. I have never understood that logic.

Again my deepest and most heartfelt condolences to the family and victims of the attack.

Weekly Economic Summary - March 12, 2010

Weekly Economic Summary - March 12, 2010
provided by Darren Tucker, Bank of America



OVERVIEW ~ The pendulum swung again, and the markets moved from pessimistic back to optimistic over the week of Monday, March 1st, through Friday, March 5th. One of the main reasons for the improved confidence among investors was an increasingly strong belief that Greece would weather its economic crisis. For one thing, the country unveiled an austerity plan designed to save the equivalent of $6.5 billion. For another, Greece successfully sold $6.85 billion in 10-year notes on Thursday (March 4) to an abundance of global bidders.

The Dow Jones Industrial Average (DJIA) started the week at 10325.26 and worked its way up gradually to a Thursday close of 10444.14. On Friday, though, the better-than-expected U.S. employment report for February surprised the markets and inspired a 1.2% rise for the DJIA, which closed at 10566.20. The U.S. 10-year Treasury note, whose interest rate yield rises when good news predominates in the economy, rose from 3.595% Monday morning (March 1) to 3.682% at the close on Friday (March 5). The Freddie Mac average rate for its 30-year mortgage loan, though, declined from 5.05% Thursday (Feb 25) to 4.97% Thursday (March 4) in the face of reduced demand for loans.

FOCUS ~ The biggest story of the week, though, was the February employment report. It is important to note that there had been a broad agreement among analysts that the number of lost jobs would reach 75,000 after January’s dip to a revised 26,000. Further, the widely-held expectation was that the unemployment rate would rise to 9.8%.

However, the number of lost payrolls amounted to 36,000, and the unemployment rate didn’t budge. Why is this important? Because nothing moves the markets like surprise. Stock market indices rose, as did interest rates.

But something even more important may be happening here. Analysts report that corporations have produced a rebound in profits by increasing demand on top of steep cost-cutting. This could lead to a higher rate of employment, as could a 15% surge in the hiring of temporary workers since October. In fact, a recent survey by Towers Watson, a human resources consultancy, found that 92% of American companies plan to hire in 2010. Improvements in the jobs sector could very possibly strengthen the economic recovery significantly. And this would include real estate sales because potential homebuyers’ confidence levels rise as jobs become more available and secure.




ECONOMIC INDICATORS

(As of 4:30 p.m. eastern, 3/8/10)

10-year Treasury note…3.71%
30-Year Fixed-Rate Mortgage
(avg)…5.31%
Spread between 10-yr note and 30-year
FRM…1.60%

Brent Crude Oil Future…80.35
Gold 100 oz Future…1122.20
Copper…341.40
Dow Jones Industrial Average
…10552.52
S&P 500…1138.50
FTSE 100…5606.72
NIKKEI…10585.92

Mortgage Bankers Association Mortgage Applications Index ~ Week ending 2/26/2010
Overall
629.9 (up 14.6%; down 8.5%
the week prior)
Purchase Money Loans
214.5 (up 9%; down 7.3%
the week prior)
Refinancing Loans
3054.3 (up 17.2%; down 8.9% the week prior)



About Darren
Darren Tucker
Mortgage Loan Officer
Direct line:
(317) 698-7411
http://www.darrentucker.com/

How To Make Sure Your Home Gets Sold

How To Make Sure Your Home Gets Sold
by Art Gib Guest Author

If you are preparing to sell your home then you are probably thinking about how you can get the most money for it. In these hard economic times making your home as appealing as possible is one of the most important things that you can do because there are a lot of homes on the market and you will want to make sure that yours is sellable.
If you have the ability to do some repairs around the house then this article will give some pointers to help increase the sale value.
First and most important is paint. If it has been a while since the interior of your home has been pained and it is showing need then this is a must. The good news is that it is one of the cheapest home improvements that you can do. When choosing a color for your home remember that white is almost always best.
If you go for bold colors then you decrease the amount of people who will find it attractive. Making the home easy to sell is the number one priority and people feel as though they have the ability to customize the home more if it is neutral colored.
Second is to do some work on the exterior of the home. If you are in a wet climate such as Arkansas then makes sure that there is no water damage and if there is do your best to mitigate it. Aside from looking for obvious deterrents try to spruce up the yard by spreading grass seed, planting flowers and painting or power washing the front of the home.
If there are obvious cosmetic defects then do your best to fix these as there is only one chance for first impressions and most people are going to judge the home by what it looks like on the exterior first.
Third is to make the kitchen area as nice and new as possible. If you have the money considers new cabinets and floors. Most people spend a lot of time in the kitchen and therefore this room is one of the most important factors in choosing a home.
If the kitchen is nice the woman of the home will like the home and if she likes the home then chances are they will buy it. Studies show that women have more say in the home buying decision than men do and therefore the kitchen should be a top priority.

About Art
RE/MAX Arkansas (http://remax-arkansas.com) the number one real estate Arkansas company surpassing top competitors.

admin: Really?  Paint is the most important thing? Interesting opinion.  I do not happen to agree.  Appearance is important, but deferred repairs are more so.  That "minor roof leak" or the mold in the basement are far more important to fix than a quick cheap repaint.  Then pricing your home right is far more important  than anything.

How Do Reverse Mortgages Work

How Do Reverse Mortgages Work In Favor Of Seniors 
  by Juhani Tontti,  guest author


It is important for a senior to understand how do reverse mortgages work, before he or she can honestly determine, whether these products are useful and will solve the need for added monthly income. Nowadays many seniors can ask from their friends, because the senior reverse mortgage has been on the market since 1989.
When a senior asks how reverse mortgages work, a simple answer without details is, that it gives cash money every month, which comes from the equity of his or her home. So this loan type works in a reverse way compared to the traditional mortgage and there is no monthly payments.

1. Easy To Qualify.
The reverse mortgages work in the way, that almost everybody can qualify. Yes, the qualification rules are clear and easy to fulfil. A borrower must be at least 62 years old, own a home, where he has equity left and which he uses as a permanent home.
That is all! The reverse mortgages work in the way, that the loan is always taken against the equity of the home. That means, that the income nor credit information are not asked. And almost all house types are accepted, with some exceptions concerning the mobile homes.

2. Up To 3 Persons Can Make The Deal.
One person, a couple or 3 different persons can be borrowers. The reverse mortgages work in a flexible way and the borrowers must not be relatives to each other. The only requirement is, that they all are owners, are at least 62 and at least one of them uses the house as a permanent home.

3. The Ownership Will Stay.
When a senior or seniors take the reverse loan from the bank, the ownership of the home will remain unchanged. That means, that a lender can never take the ownership, not even in that case that a senior cannot pay all costs nor the capital, when the loan will be closed. There is one exception. The borrower must take care of all taxes, insurances and to keep the home in a good shape.

4. The Counselor Will Guide.
Every senior, who will apply for a reverse loan, must meet the federal counselor. Actually this compulsory meeting is very useful, because the counselor is not in the service of the lender but an independent expert. Only he can taylor make the loan for the senior needs and even to recommend lenders with good reputations.

5. What Is The Difference To The Traditional Mortgage?
The main difference is, that a senior does not pay back anything, when he has a reverse loan. There is no monthly payments. So, if a senior has a traditional mortgage left, he can first pay away that with the reverse loan.
This means that also the traditional monthly payments will be left away. So all costs and the loan capital will be paid away at once, when the loan will be closed. This happens, when the last owner will move away or die and the house will be sold.
The money comes from the selling price of the house. If the selling price does not cover the costs and the loan capital, the compulsory mortgage insurance will pay the missing part.

About the Author
Juhani Tontti, B.Sc., Marketing. The reverse mortgages workin that way, that you have to meet a counselor, who can explain how do reverse mortgages work in your particular case. Visit: reverse mortgages pros and cons at http://www.reversemortgageearnings.com/

Top 10 Reverse Mortgage Facts

Top 10 Reverse Mortgage Facts

Reverse mortgages are becoming popular in America. HUD's Federal Housing Administration (FHA) created one of the first. The Home Equity Conversion Mortgage (HECM) is FHA's reverse mortgage program which enables you to withdraw some of the equity in your home. The HECM is a safe plan that can give older Americans greater financial security. Many seniors use it to supplement social security, meet unexpected medical expenses, make home improvements and more. You can receive free information about reverse mortgages in general by calling AARP toll free at (800) 209-8085. Since your home is probably your largest single investment, it's smart to know more about reverse mortgages, and decide if one is right for you!

1. What is a reverse mortgage?

A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan or second mortgage, no repayment is required until the borrower(s) no longer use the home as their principal residence. FHA's HECM provides these benefits. You can also use a HECM to purchase a primary residence if you are able to use cash on hand to pay the difference between the HECM proceeds and the sales price plus closing costs for the property you are purchasing.

2. Can I qualify for FHA's HECM reverse mortgage?

To be eligible for a FHA HECM, the FHA requires that you be a homeowner 62 years of age or older, own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, and you must live in the home. You are further required to receive consumer information from an approved HECM counselor prior to obtaining the loan. You can contact the Housing Counseling Clearinghouse on (800) 569-4287 for the name and telephone number of a HUD-approved counseling agency and a list of FHA-approved lenders within your area.

3. Can I apply if I didn't buy my present house with FHA mortgage insurance?

Yes. It doesn't matter if you didn't buy it with an FHA-insured mortgage. Your new FHA HECM will be FHA-insured.

4. What types of homes are eligible?

To be eligible for the FHA HECM, your home must be a single family home or a 1-4 unit home with one unit occupied by the borrower. HUD-approved condominiums and manufactured homes that meet FHA requirements are also eligible.

5. What's the difference between a reverse mortgage and a bank home equity loan?

With a traditional second mortgage, or a home equity line of credit, you must have sufficient income versus debt ratio to qualify for the loan, and you are required to make monthly mortgage payments. The reverse mortgage is different in that it pays you, and is available regardless of your current income. The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home or FHA's mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow.

You don't make payments, because the loan is not due as long as the house is your principal residence. Like all homeowners, you still are required to pay your real estate taxes, insurance and other conventional payments like utilities. With an FHA HECM you cannot be foreclosed or forced to vacate your house because you "missed your mortgage payment."




6. Can the lender take my home away if I outlive the loan?

No. You do not need to repay the loan as long as you or one of the borrowers continues to live in the house and keeps the taxes and insurance current. You can never owe more than the value of your home at the time you or your heirs sell the home.

7. Will I still have an estate that I can leave to my heirs?

When you sell your home, you or your estate will repay the cash you received from the reverse mortgage plus interest and other fees, to the lender. The remaining equity in your home, if any, belongs to you or to your heirs.

8. How much money can I get from my home?

The amount you can borrow depends on your age, the current interest rate, and the appraised value of your home or FHA's mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow. You can use an online calculator like the one on the AARP website to get an idea of what you may be able to borrow.

9. Should I use an estate planning service to find a reverse mortgage?

FHA does NOT recommend using any service that charges a fee for referring a borrower to an FHA lender. FHA provides this information free, and HUD-approved housing counseling agencies are available for free or at very low cost, to provide information, counseling, and a free referral to a list of FHA-approved lenders. Search online or call (800) 569-4287 toll-free, for the name and location of a HUD-approved housing counseling agency near you.

10. How do I receive my payments?

You have five options:

Tenure - equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence.
Term - equal monthly payments for a fixed period of months selected.
Line of Credit - unscheduled payments or installments, at times and in amounts of your choosing until the line of credit is exhausted.
Modified Tenure - combination of line of credit with monthly payments for as long as you remain in the home.
Modified Term - combination of line of credit plus monthly payments for a fixed period of months selected by the borrower.

Source HUD

How to Choose the Best House for Sale in Puerto Vallarta

How to Choose the Best House for Sale in Puerto Vallarta
  by Rahman Mehraby Guest Author

If you are nearing your retirement age, then it is quite normal for you to try and search for a vacation home. On the other hand, if you belong to the younger generation and would like to make a good investment in an area where there is a great scope for real estate development, then Puerto Vallarta is just the right place to go.
You can choose the best condo for sale in Puerto Vallarta depending on your requirements. But you can be assured that you will get the best of health, security and entertainment in this beautiful place.

Find out Your Requirements

The real estate market in PV is abounding with great developers who have a very good range of offerings for the visitors. When you make a choice for the best house for sale in Puerto Vallarta, make sure it satisfies your other goals other than a place for spending your vacation. You can buy a house near the bay where you will have plenty of opportunities for fishing, beach sports and all kinds of activities in the water. PV will give you unlimited attractions in whichever area you plan to invest and you will always find something new every time that you come here.

Make A Good Investment Option

The real estate scenario offers you residential alternatives which can satisfy your personal goals. At the same time, it is a very good investment for you. The choice of buying a condo for sale in Puerto Vallarta should be based on the fact that the house has to be strategically placed to attract the maximum number of tenants. In fact, this is a criterion which has to be given more importance than the style of the house. You should be able to leverage maximum gains from the place that you invest such a lot of money in.

Take Advantage of the Flexible Rules

While thinking about purchasing a house for sale in Puerto Vallarta, one thing surely comes to the mind. What about the laws of the land? Are they flexible enough to allow a foreigner to purchase land and property in PV? In fact, Mexico is well known throughout the world for providing the best facilities for any visitor to purchase property here.

The purchase can be brought about through a bank which will act on behalf of the visitor. When you choose a property, the thought foremost on your mind will be whether you can dispose of the property in an equally convenient way too. Property can safely be disposed in PV without any unnecessary hassles.

Employ A Real Estate Agency

A real estate agent from a well known company should be consulted before you buy a condo for sale in Puerto Vallarta. He is the best person to introduce you to the various condos and houses which suit your requirement. He will see to it that you have a fair deal and help you to go through all the routine arrangements necessary for purchasing the house. He will charge about 6-8% commission on the value of the property. But you will be in safe hands.

Make sure that the abbreviation AMPI is among the credentials of the real estate company that you hire. This will be helpful while completing the legal formalities.

Size Of The House

Now that you have set your priorities right and thought about all the criteria before choosing the condo for sale in Puerto Vallarta, you can pay some attention to the design aspect too. Choose a condo which will be big enough to house the number of people you want to bring along with you.

If you are only coming here with your spouse, then a small house will do. But if you are coming with your entire family, then you will need rooms for everybody. And once you buy your dream home, it will be a beautiful life in Paradise. So get ready to enjoy the best time of your life here.

About the Author
Neptune Realtors offers extraordinary Condo for Sale in Puerto Vallarta. Also you can choose to invest in a House for Sale in Puerto Vallarta. Check out for more at: http://www.neptunemx.com.

Is your real estate agent doing the Job

5 Ways to know if your real estate agent doing the Job
by R. Parker guest author

You have listed your home you have high hopes to be packing up and moving shortly, so why are the offers not pouring in and is this your agents fault or another reason?
Real Estate agents can facilitate the sale of your home and generally they are a good investment in marketing your home at the best possible price and in the shortest amount of time. Realtors do have connections and they have access to the MLS system and the network of agents that this represents. It comes down to having more contact with potential buyers than you will have as an individual trying to sell your own home.

However not all realtors are created equal. How can you determine if your realtor is doing the job?

1. Check the MLS listing on realtor.com and ensure that your home is listed and that there has been effort put into writing the most appealing description possible as well as ensuring that all the details are completed for your home. Having said this don't expect your realtor to outright lie on your behalf. While he/she does work for you and it is in their best interest to sell your home there is no point in wasting their time or yours showing your home to potential buyers that have been misled as to the desirability of your property.

2. Assuming that your realtor works for a company that maintains an office website and with a realtor that maintains their own website (2 points to ascertain before listing with anyone), do the above check on these websites as well. Ensure that these websites have the best possible pictures to highlight the best features of your property. Do not immediately assume that if your realtor has only posted one outside shot of your home that this means that they are falling down on the job. Depending on the type, age and condition of your home this may have been a conscious decision of less is more. While the realtor has no control of the size or quality of pictures on the MLS system, he/she should have on their own website. Therefore ensure that pictures are a minimum of 640x480 pixels in size and the quality is good. Pictures sell homes!

3. Does you realtor check in with you on a regular basis? Regular can have different meanings and will be related to the type of property that you are trying to sell. If you are selling bare land the time required to sell the property may be greater and therefore as there is historically less action you may not hear from your realtor as often as a home sale in a hot area. However you should be aware that your realtor is still in the business as he/she should call at least once a month and as often in a hot market situation as weekly to give you progress reports.

4. In the case of home sales, has your realtor held an open house? Now you should realize that open houses are generally held only for properties that will show well. These are homes with curb appeal as well as well maintained interiors, so if you have a small older home as you will find often in PEI then your realtor may not see an advantage in an open house. Likewise if your home is not kept clean and tidy, your realtor will not want to put the effort into an open house. So do your part and ensure that your home is viewing ready.

5. Finally although the web has taken a lot of emphasis off local media advertising, there are opportunities to market your home through ads in the local paper which will often have a real estate section as well as other local advertising, cable TV channels, real estate publication, mall based kiosks etc. Depending once again on the value of your home and the likelihood of sale, based on value to price, your realtor may advertise in these other ways

Realize that realtors are independent while working within a brokerage. They are responsible for their own costs and some have greater budgets to promote your home than others. However they will always weigh the likelihood of a sale with expense and costs. If you are asking a very high price for your home in a lower market your realtor is not going to spend that much advertising it. Likewise if you aren't willing to do your part and get your home ready for sale as well as keeping it 'show ready' this will affect the amount of money and effort any realtor will invest in your home sale.

About the Author
R. Parker works with local realtors to promote PEI and help residents and visitors alike enter the PEI real estate market. Check out PEI real estate listings.

Buying Real Estate

http://blogs.nwihomefinders.com/wordpress/2010/01/10-budget-tips-to-buying-real-estate/

10 Budget Tips To Buying Real Estate

18 January 2010, 2:06 am

10 Budget Tips To Real Estate Purchasing
by Calvin Tan, guest author

1. Get pre approved for your home loan
This signifies, fill out a loan application and go through the process of securing financing. That way, when you are prepared to evaluate real estate seriously, you will know exactly how much home you can afford. Furthermore, you can certify to a seller that your offer is honest.
2. Check up on creative financing options
During the home loan preapproval process, ask about alternatives to get creative with your financing. Low down payment choices, first and second mortgage combinations and first time purchaser programs might help you afford more funding. Many lenders are now selling interest only home mortgages; just be sure you thoroughly evaluate the terms for this form of home loan. Down payment grants are also available in a few instances and may be worth investigating or discussing with your realtor.
3. Sell your existing home first
Although offering your existing home before finding new real estate to purchase can be slightly nerve wracking, any inconvenience will be offset by your skill to commit an offer with money in hand. Contingent purchases are not the best when negotiating to purchase a home. Having your financing in order and your bags packed will give you the advantage in a competitive market.

4. Look for vacant real estate
Perhaps a seller’s job has transferred him out of the ground. Alternatively, perhaps a family bought a new home before placing their existing one on the market. In the end, a vacant home may be just the deal for a perceptive homebuyer, so have your realtor look for vacant property in your preferred neighborhoods. In addition, remember that the longer a house stays empty the larger your negotiating power will be.
5. Consider cosmetic fixers
If you are handy with a paintbrush, a toolset and gardening equipment, consider purchasing real estate in require of cosmetic fixing. Property that lacks curb appeal requires minor handiwork or the yard overhauled could end up being the home of your dreams for a price you can afford. You just require looking beyond the ho-hum to see the potential of a cosmetic fixer.
6. Purchase a home that is a radical remodel project
If you need to live on Lake Washington, but cannot afford a $2m home mortgage, consider purchasing a dilapidated cottage on a fabulous lot with western exposure. In time you will require gutting the existing home and construct from the area up or contract significant home improvements. However, after all your property value will skyrocket. Furthermore, if your carpentry and other construction capabilities are well developed, you can save even more and accrue “sweat equity” all through your remodel by doing much of the work yourself.
7. Do not discount bank foreclosures
One person’s loss may be your gain if you purchase real estate in foreclosure. Despite the fact the search for a decent foreclosure may take a while, your realtor should be able help. The U.S. Department of Housing and Urban Development can be an amazing resource for foreclosed properties. Because that Housing and Urban Development houses are sold at market value, your best bet will be homes that require cosmetic work or even major restore.
8. Land with a manufactured home
Sometimes to purchase a home on a budget, you require looking beyond convention. Despite the fact that your want is to purchase real estate, you may have to settle for a piece of property in an outlying ground with a mobile or manufactured home. Discuss this possibility with your real estate agent and try to keep an open mind about this opportunity.
9. An older, smaller home
Older homes are generally priced much less than newer construction and do not tend to originate buyer bidding wars. If you can enjoy life in an older and smaller home in a district or suburb offs the beaten path, this may be your ticket to real estate ownership.
10. The cheapest house in the best neighborhood
You have your heart set on a specific, and costly, neighborhood, perhaps that you are interested in the schools. Alternatively, maybe it is the nearby proximity to downtown or the waterfront. In the end, a budget savvy purchaser will look for the least costly home for sale in the neighborhood. If you are not in a hurry, you can even play the waiting game to see what properties come on the market. Your real estate agent may be a real asset in this case by investigating potential sellers.

Buying real estate without breaking your budget will require exploration and compromise. On moving day, however, you will have the satisfaction of knowing that your homework paid off!

About the Author
Get the FREE 2 Real Estate Investment Reports from Real Estate Power Investor to make money through real estate investing.