Great studio is In La Siesta, Torrevieja- walking distance to shops bars and restaurants and close to bus routes. The apartment has one large room with a sofa bed and wardobes, dining table and chairs for four and a breakfast bar to the open plan fully fitted kitchen.

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Judicious home remodeling is still worth the investment, according to Remodeling magazine’s annual “Cost vs. Value Report.”

Uncertainty and restraint are the order of the day in this economy, and that sense of caution is reflected in home owners’ return on their investment in remodeling projects, according to REALTORS® in 80 metropolitan markets surveyed by Remodeling magazine for this year’s Cost vs. Value Report.

The majority of the 10 remodeling projects with the best return on investment nationally are a testament to pragmatism. Six of the 10 projects—siding and window replacement using a variety of materials—involve home maintenance that costs less than $14,000.

Two more—adding an attic bedroom or a wood deck—reinforce the notion that boosting the amount of livable space in and around your home will attract buyers who are increasingly looking for more room for their buck. In past years, converting an attic into a bedroom was a project that landed squarely in the middle of the rankings, but this year it leapfrogged over other categories into third place. It’s an admittedly pricey project, with an average national cost of nearly $50,000, but it generates an average national return of 83.1 percent and a better-than-100 percent return on investment, according to REALTORS® in 14 of the 80 cities surveyed. Adding a wood deck is much more economical, with an average national cost of slightly more than $10,000. Its average national return is 80.6 percent, but in six cities, its return is estimated at 100 percent or greater.

The six siding and window home maintenance projects in the top 10, combined with the project with the biggest return on investment—a mid-range entry door replacement—prove something that every sales associate tells sellers throughout the country: First impressions count. A mid-range entry door replacement, a project new to the survey this year, is the only home remodeling project that REALTORS® expect to generate a full return for the money nationally. It’s the least expensive of the 33 projects included in the analysis, yet it brings a whopping average national return on investment of 128.9 percent. It generates a better-than-100 percent return in 48 of the 80 cities, according to REALTORS® surveyed, and in several cities, its return is estimated at more than double its cost.

Additional data prove the value of restraint. Upgrading kitchens and baths is still a smart bet. However, home owners will recoup the greatest share of their costs by foregoing super-deluxe projects in favor of mid-range kitchen and bath remodels. A mid-range kitchen remodel brings an average 72.1 percent return on investment, while an upscale kitchen re-do returns only an average of 63.2 percent of the money invested. A mid-range bathroom project has an average 71 percent cost recovery, but the average recovery on an upscale bathroom project is nearly 10 points lower, at 61.6 percent.

The only upscale projects that cracked the top 10 were the home maintenance projects of fiber-cement siding replacement and vinyl window replacement. The average cost of fiber-cement siding is more than $13,000, but its return on investment reached 83.6 percent, placing it squarely in second place in the survey. The average cost of vinyl window replacement is nearly $14,000, and it generates an average return of 76.5 percent, or tenth place in the survey. Of the 12 upscale projects, nine landed in the bottom half.

Overall, home owners recouped an average of 63.8 percent of their investment in 33 different home improvement projects, according to REALTORS® who responded to the survey. The expected cost recoup was generally down from previous years in line with the drop in home prices nationally (see page 23). The return on home owners’ investment in remodeling projects has declined an average of 3.5 percentage points between 2008 and 2009. That’s down from the 2.7 point drop between 2007 and 2008 and much less than the 5.5 point drop between 2006 and 2007 and the 10.5 point drop from 2005 to 2006.

Zooming in from the national to the city level, Honolulu sits atop the rankings for having the most projects—18—that generate at least a full return on investment. In Honolulu, adding a wood deck, completing a minor kitchen remodel, adding fiber-cement siding, and replacing an entry door bring the highest returns, ranging from 121.1 to 195.3 percent return on investment. San Francisco is closest behind with 10 projects generating at least a full return on investment. Adding a master suite, doing a minor kitchen remodel, and replacing an entry door have the biggest returns, producing between 112.2 and 119.1 percent return on investment.

One surprise: Despite the common perception that contractors are hungry for work and therefore willing to wheel and deal, the average national cost of every project surveyed has gone up, though at a slower rate than in the previous year.

View 2009-10 Cost Vs. Value Report.  Data courtesy of Remodeling Magazine

10 Big-Impact, Low-Cost Remodeling Projects

Working with sellers who have some—but not unlimited—cash for upgrades? Here are budget-minded enhancements you can suggest to make their home stand out.

1. Tidy up kitchen cabinets.

“Potential buyers do open kitchen cabinets and look inside,” says Morrissey. “Home owners can add rollout organizing trays so when buyers peek in, they feel like there’s lots of room for their stuff.”

2. Add or replace tile.

“By retiling very inexpensively, you make a room look way cleaner that it was,” says Javier Zuluaga, owner of Home Repairs and Remodeling LLC in Tempe, Ariz. “Every city has stores that offer $1 to $2 tile, so home owners have to pay only for the low-cost tile and labor to replace a dated backsplash or add a new one. We also use inexpensive tile to upgrade bathrooms.”

3. Add a breakfast bar.

When a wall separates a kitchen from a family room, suggest cutting out an opening to create a breakfast bar. “In one home, there was a cutout in the wall between the kitchen and living room,” explains Matthew Quinn, a sales associate at Quinn’s Realty & Estate Services in Falls Church, Va., who handles estate and real estate sales for family members whose loved ones have passed away. “We left the structure of the cutout, added an oversized granite breakfast bar, and put chairs in front of it. That cost about $600.”

4. Install granite tile instead of a slab.

“Everybody is hot for granite kitchen countertops, but that can be a $5,000 upgrade,” says John Wilder, a general contractor and owner of Fence and Deck Doctor in New Castle, Ind. “Instead, home owners can put in 12-inch granite tiles for about $300 in materials and get very high impact for little money.”

5. Freshen up a bathroom without retiling.

“With a dated bathroom, I recommend putting in a new medicine cabinet for $100 to $150, light fixtures for about $100, a faucet for $50 to $75, and a vanity for $200 to $300,” says Wilder. “And instead of replacing the tile, the existing grout can be lightly scraped and regrouted, which leaves a haze that can be buffed out and will make the tile look brand new. Also install glass shower doors. A French door adds a lot of panache and elegance for $250, and people will notice the door, not the tile. With all that, you’ve done a bathroom remodel for $1,000 to $2,000.”

6. Freshen up the basement.

“If home owners have cement block or poured concrete walls in the basement, suggest they have a contractor fill in cracks with hydraulic cement and then paint with waterproofing paint,” recommends Wilder. “They can then add a top coat to add color. They can also paint the basement floor with a good floor paint, which spiffs it up. The basement may not be finished, but it’s no longer a damp dungeon.”

7. Add a room.

Look for large spaces that can be enclosed to create a new bedroom for just the price of creating a wall. “One time, we closed off a half-wall to an office and added a door to the other side of the room, thus creating another bedroom,” says Quinn. “That $400 procedure, which took a contractor one day, netted about $40,000 in the sales price.” Zuluaga has also added bedrooms inexpensively. “In a two-bedroom house, there was an archway that led to a third room that was used as a den,” he explains. “It had a dry bar where there would have been a closet, so we took out the dry bar and created a closet so the owners had a third bedroom.”

8. Spruce up cabinet fronts.

Suggest home owners update tired-looking kitchen cabinets. Reconditioning is the least expensive move for under $1,000. “If the wood is starting to look shabby from use or contaminants in the air, we take out the nicks and scratches, recondition it with oil, and put new hardware on,” explains Heidi Morrissey, vice president of marketing and sales at Kitchen Tune-Up in Aberdeen, S.D. For $1,500 to $4,000, owners can replace the cabinet doors and drawer fronts, and for $4,000 to $12,000, they can have all the cabinets refaced. “With refacing, owners can change the color of the cabinets by replacing the door and having a new skin put on the boxes,” says Morrissey. “If they have oak cabinets today, they can have cherry the next day.”

9. Replace light fixtures.

“In a foyer and in bathrooms and kitchens,” says Wilder, “replacing overhead light fixtures provides a lot of pop for a little money.” If the kitchen has track lighting, Zuluaga suggests the home owner spend $450 to $600 to have an electrician replace it with recessed canned lights on a dimmer switch to add ambience. For about $700, Zuluaga also suggests installing pendant lights over a kitchen island or peninsula.

10. Tech-up the garage.

“Sometimes we replace the garage door opener with a remote touchpad entry system,” says Zuluaga. “That costs about $425 and makes it look like a high-end system.”

Download a PDF version of these 10 big-impact, low-cost ideas.

Well guys for most of 2009 the housing market has been on government life support.  What will be interesting in 2010 is what happens when the resuscitator is unplugged.  Most economists predict the Fed having to raise interests rates come summer.  That won’t be the biggest test though.  This spring the Fed will stop purchasing mortgage backed securities, pulling away the safety net banks have enjoyed for the past year.

Raw Creatives present an interview with Ozwald Boateng seen on Trace Tv France.

Source: Raw Creatives

Buying a new builder home has an advantage from a re-sale home.
Even though generally, a re-sale home is more affordable, but a short-term savings may be lost over time when repairs renovations, pest control, and lower appreciation are taken into account. Majority of them have just been upgraded and are not always the work of qualified persons nor were they always done with a permit.

Home builders, on the other hand, take pride in their work and they strive to build the best homes. They won’t risk building “bad” homes that may ruin their reputation and will affect their business.

If you purchase an older home, you may soon have problems with major architectural defects that the seller may not be aware of (or they may be aware of, but did not tell you about them). But with a builder home, you know what you are getting and no surprises when you move in. You are aware on how the house was built and what went into it, especially what’s behind the walls. If you have questions, the home builder will be there to give you an answer.

A beautiful Builder Home

Builder Home List

Builder Home list is a resource of builder homes nationwide.

In a few states like CA, TX and AZ these homes are getting sold at a very good rate.

Why would it be better to buy a Builder Home?

Here are a few things to ponder on:

1. Its Brand New!

Its fresh out of the oven people! You don’t have to deal with broken down sections of used homes and all that other kind of stuff.

2. Price

The price is amazingly lower than regular used homes. Most homeowners look at their property as an asset and want to make some profit from you, which of course is totaly reasonable but if you are on a tight budget, there are other options available.

3. Modern

Since these buildings are modern, they are crafted and structured better to give you all the comfort of a 21st century home.

There`s a list of affordable new builder homes in CA and other parts of the United States as well.

Another month has gone by and the results continue to show improvement when compared to November 2008.

To begin with let’s take a look at the number of days on the market.

Although there was a small up-tick compared to last month there is a decided decline from one year ago.  It is not unusual to see small fluctuations from month-to-month and that is why it is important to look at the longer term–year-over-year.  When properties are on the market a shorter time it is an indication that the market is moving faster, houses are selling more quickly and the overall inventory may begin to decrease.

The next factor for us to consider is the number of units sold in a given month.

This graph shows a dramatic increase this November (83 units)  over one year ago (39 units).  In many markets the increase in sales in November has been credited to the First-Time Homebuyer Tax Credit, however, in Bellevue where the median price for homes sold this month was $579,0000 it’s a pretty good guess that not many of these were “First-Time Homebuyeers.”  So, once again this is a very encouraging sign for the Bellevue, WA real estate market.

Speaking of median price here is what that graph looks like.

Prices have stabilized over the last six months.  It will be interesting to watch this to see if prices start to move up again after a long period of decline or remaining flat.

The total volume sold when compared to the number of units sold gives us an indication of the type of homes sold.

Again, comparing November 2009 to November 2008 demonstrates how much better the market is getting.  The last four months shows a more stable patter with a slight increase in volume.  It will be interesting to see what happens in December of this year since there was a decided drop from November to December 2008.

The final graph contains a lot of information.  It shows what happens when houses are priced too high and remain on the market too long.

What I find interesting is that not once in the last year has the average sold price met the average list price.  A few years ago it was not unusual to see the sold price exceed the list price.  This means the ratio would be in excess of 100% rather than the 90 to 95% range.  As always, it is important to listen to what the market is saying about value.  If you are a seller price it at market value and adjust quickly if you are too high.  If you are a buyer, be willing to pay market value and be satisfied to get a good deal.  If the house is a “screaming deal” there probably is something wrong with the house, title or financing.

All of this is very good news and gives us a lot to look forward in the coming year.

after a day work

boats @ shoreline stretch

Weekend the lazy side of the days in a week it’s a time to stay long in bed, getting cozy with our love one, playing with our children, taking the dog for a walk, take time to feed and watch our other pets at home, sit down and eat in the garden and nurture our spiritual side. There are too many ways to spend our weekend.

lazy walk in the sand

justkeep walkin

A twilight weekend in Samal Island consist of life intertwined with the sea. A walk in the shoreline provides solitude and getting in touch with the individual spirits. The scenery of the island and the daily life activities that evolves around the coastal areas reflects the simplicity of life.

everyday life

life in mono....life in stillness

nature is my home

A walk in the sand brings back the nurturing side of nature and its healing capacity, it relax and soothes the feet and body. To sit around and observe everything awakens the untouched spirits of an individual.

puting bato in afternoon

In the twilight weekend here in Samal Island consists of people coming home after several hours in the sea. Other fisherfolks were busy keeping their catch fish off to market for their daily needs. Some, getting ready to ashore for the night fishing there are no weekends here without fishermen off the shoreline, except for some bad weather.

Sometimes weekend here in Samal Island you can catch a glimpse of children playing in the shoreline with kites, and some women and children gather shells for food during low tide.

At weekend also, if high tide sets in sunset, most fisherfolks will go fishing using paddle boat (banca).

With the commercialization of shoreline here in Samal Island there are few remaining shoreline to walk around. Most of the remaining shoreline is already privately own but not yet develop.

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A paradise with an amazing natural beauty.

We chose the most beautiful area of Chalkidiki in order to build our dream executive modern villas. In the peninsula of Athos, only 2 km far from the walI of Agio Oros-Holy Mountain, at the enchanting sandy beach of Komitsa (4km after the village of Nea Roda and 6 km before the village of Ouranoupoli).

The area is known for its natural beauty, which is registered and protected by UNESCO as a member of the global inheritance’s list. Our brand new villas are for sale and available to buy, simply contact us for more information on buying your dream property.

Chalkidiki

Here, the visitor is captured by the smells and the colors of nature which are full of the sea’s blue and forest’s green.
The quality of life is a superior factor and the sense of natural quiet relaxes you and refreshes you.
The sea breeze and the fresh air refresh the spirit and the body. It is a holiday home paradise suitable for magical vacations, for fishing, hunting and endless walks in the impressive sceneries and the historical locations.

Ktima Chantzi consists of luxury villa residences for sale, 60, 90 and 110m each, which are built in a plot of total area of 60.000 m. The land is located with a beachfront sea view with plane-tree, olive tree and poplar surroundings.
All of these executive villas have a view of the sea, they have large gardens and are available to buy. The rate of the plot for each residence is 450-2,000 m2. The architecture follows the traditional architectural style, imposed by the department of cultural Inheritance of the Ministry of Culture.

The modern and developed construction of the plot is completely combined with the environment where the wood and the byzantine hand-made brick are dominating.The substructure of these dream real estate properties can cover every need of occupancy in every season of the year and the completion of your dreams for a better life.
If you can not impose limits on your desires and you want a comfortable way of life, discover a residence better than one that you are thinking of buying.

Our brand new executive holiday villas are built in the most beautiful area of Chalkidiki and are now available to buy. These luxury beach villa properties are currently for sale and have views looking directly out to the sea giving one of the most stunning sceneries you could imagine.

Ktima Chantzi’s luxury modern holiday villas were developed with a traditional architectural style to combine perfectly with the beachfront and stunning natural surroundings. If you are looking for new executive real estate to buy in the peninsula of Athos look no further than Ktima Chantzi’s villas

Tri-City Herald                                                                                        BUSINESS Nov 29th 2009

Tri-Cities consistently ranked among the Best

In the past couple of years, the Tri-Cities has made several magazines’ “top list” Top 100 Best Places to Live. Top 10 Affordable Places to Retire on the Water and Best Cities for New Jobs. There are two common themes among the lists we made job growth opportunities and low cost of living. These themes seem ironic given the economic downturn the country is experiencing this year but they’re also an indicator that the Tri-Cities’ economy has weathered the storm better than most.

For example, our job market continues to grow. Just two months ago, the Tri-Cities ranked second on Forbes’ “Best Cities for New Jobs.” Our net employment outlook, which is calculated by subtracting anticipated job losses from job openings, is 11%. The No. 1 ranked City was Lincoln, Neb., with a 17 percent net employment out look.

The Tri-Cities also jumped to sixth place, from 29th, in the 2009 Milken Institute index for Best Performing Small Cities. The index ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. Components include job, wage and salary and technology growth. This year the Tri-Cities also made a list for Rising Residential markets in the nation — we were ranked number one in a list of the top Five. The ranking came at the same time that our real estate market was starting to make a comeback. In March we experienced a surge in homebuyers,” said Chris Wilson a local Windermere Real Estate agent. It was a welcome change from the all that we saw in the market from October 2008 until the end of February 2009.

The saying ‘what you focus on expands’ is exactly what happened in the Tri-Cities. All of the reporting about the economy was gloom and doom. And even though this area was not experiencing what the rest of the country was going through, we bought into it, so Our market was negatively impacted,” continued Wilson. Wilson says families are relocating here due to the strong job market and quality of life, which includes affordable housing.

CNNmoney.com ranks Richland No. 51 on its Top 100 Best Places to Live. According to the stat, the cities job growth among the best between 2000 and 2008 was 18.59 percent, just a 1 percent below average growth data for all cities in the top 100. In addition, the median home priced is listed as $182,000, which is $80000 below the average of the other cities. Compared to the averages of other cities on the list this area also has a better air quality index, shorter commute time, and warmer weather.

Kris Watkins President and CEO of the Tri-Cities Visitor & Convention Bureau agree that this area is a great place to live. We are delighted that the Tri-Cities continues to be recognized as a ‘best place’ in the U.S. time and time again.

We have beautiful waterfronts, award-winning wines, premier golfing and low-cost of living; all of these attributes make the Tri-Cities an attractive destination to live work, and play. More good news for those living or moving here – its a great place to retire — according to a list by USNEWS.com. I’m not surprised by the positive recognition. I for one, already plan to hang my dentures here.

Andrea Turner works with Pacific Northwest National Laboratory’s Economic Development Office

She can be reached at 375-3893

The Ontario Government recently enacted legislation which will implement the much-dreaded HST Tax. This new tax will take effect on July 1, 2010.

The HST tax will effectively combine the Provincial Sales Tax of 8% percent with the Federal GST Tax of 5% percent, to create a new “harmonized” total tax of 13% percent. This new tax will be applicable to many real estate services which hitherto only had one or the other tax applied.

The HST will result in a 13% tax on new home construction, but my post today will concern those ancillary costs pertaining to the buying and selling of resale residential real estate properties in Ontario… 

First, the good news….there is no HST tax payable on the sale of a resale home (residential). So the single largest dollar amount exchanged is not taxable under HST.

However, under the harmonized sales tax (HST), home buyers and sellers will have to pay extra tax on a range of services associated with the real estate transaction: services such as legal fees, moving costs, real estate commissions and home inspection fees. Currently, consumers only pay the 5% Goods and Services Tax (GST) on these services. 

In a nutshell, after July 1, 2010, if you are a seller, there will be a 13% percent tax payable on the real estate commission you pay – currently there is only the 5% percent GST payable on this fee. Your lawyer’s fee will also be subject to the 13% percent HST, as will the cost of a Condominium Status Certificate.

If you are a buyer, any Home Inspection you pay for will be subject to the 13% percent HST. And so will the cost of movers hired. In addition, the cost of the CMHC premium for “high-ratio” mortgages has traditionally been taxable for PST – this amount will now be taxable for the full 13% percent HST.

So one can see that, with the introduction of the HST, whether you are buying or selling a Resale Home in Ontario, costs will be going up.
A press release from the Ontario Real Estate Association earlier this year summarized some of these changes which will take place – the example that they used was for a resale house priced at $360,000, and it was determined that the HST would add over two thousand dollars in new taxes to closing costs. Please note, these taxes are in addition to the Land Transfer Taxes which exist for both the Province and the City of Toronto. OREA calculated that, in total, the HST would add $313 million annually in new taxes to resale home transactions.

CURRENT TAXES PAID, VERSUS THE NEW COMBINED HST TAX PAYABLE, ON A HYPOTHETICAL $360,000 REAL ESTATE TRANSACTION:

    ————————————————————————-
                        Table 1: HST and Resale Homes
    ————————————————————————-
                                      Current Tax                           HST Tax
    Taxable Service            Payable          New Taxes          Payable
    ————————————————————————-
    Mortgage Insurance
     Premiums(1)               $752.40        $470.25(2)        $1222.65
    ————————————————————————-
    Legal Costs                  $50.00            $80.00           $130.00
    ————————————————————————-
    Real Estate
     Fee/Commission          $720.00-        $1,152.00-      $1,872.00-
                                      $1,080.00       $1,728.00       $2,808.00(3)
    ————————————————————————-
    Home Inspection            $20.00            $32.00          $52.00
    ————————————————————————-
    Title Insurance               $24.00            $15.00          $39.00
    ————————————————————————-
    Total New Tax:                        

                                                              $1,749.25- $2,325.25
    ————————————————————————-

1) CMHC premium of 2.75% for mortgage with a 5% down payment on a
        $300,000+ home.
    (2) Consumers currently pay the 8% PST on mortgage insurance premiums.
    (3) Real estate commissions are negotiable or may be a flat fee.
        Estimated range of 4% to 6% used.
    (4) Ministry of Finance, Public Accounts, 2007/2008.
    (5) Altus Group, “Economic Impact of MLS(R) Home Sales,” June 12, 2007.

The HST Ontario Tax will add to the cost of buying and selling a resale home. Many market watchers are predicting a flurry of activity leading up to the July 1, 2010 implementation date, as buyers and sellers both try to avoid paying the tax.

Interest rates are at historic lows but cyclical trends suggest they will soon rise. Home buyers may never see such a chance again, writes Marc Roth

By Marc Roth

Well, you may not be stupid or broke. Maybe you already have a house and you don’t want to move. Or maybe you’re a Trappist monk and have forsworn all earthly possessions. Or whatever. But if you want to buy a house, now is the time, and if you don’t act soon, you will regret it. Here’s why: historically low interest rates.

As of today, the average 30-year fixed-rate loan with no points or fees is around 5%. That, as the graph above—which you can find on Mortgage-X.com—shows, is the lowest the rate has been in nearly 40 years.

In fact, rates are so well below historic averages that it should make all current and prospective homeowners take notice of this once-in-a-lifetime opportunity.

And it is exactly that, based on what the graph shows us. Let’s look at the point on the far left.

In 1970 the rate was approximately 7.25%. After hovering there for a couple of years, it began a trend upward, landing near 10% in late 1973. It settled at 8.5% to 9% from 1974 to the end of 1976. After the rise to 10%, that probably seemed O.K. to most home buyers.

But they weren’t happy soon thereafter. From 1977 to 1981, a period of only 60 months, the 30-year fixed rate climbed to 18%. As I mentioned in one of my previous articles, my dad was one of those unluckily stuck needing a loan at that time.

Interest Rate Lessons

And when rates started to decline after that, they took a long time to recede to previous levels. They hit 9% for a brief time in 1986 and bounced around 10% to 11% until 1990. For the next 11 years through 2001, the rates slowly ebbed and flowed downward, ranging from 7% to 9%. We’ve since spent the last nine years, until very recently, at 6% to 7%. So you can see why 5% is so remarkable.

So, what can we learn from the historical trends and numbers?

First, rates have far further to move upward than downward; for more than 30 years, 7% was the low and 18% the high. The norm was 9% in the 1970s, 10% in the mid-1980s through the early 1990s, 7% to 8% for much of the 1990s, and 6% only over the last handful of years.

Second, the last time the long-term trends reversed from low to high, it took more than 20 years (1970 to 1992) for the rate to get back to where it was, and 30 years to actually start trending below the 1970 low.

Finally, the most important lesson is to understand the actual financial impact the rate has on the cost of purchasing and paying off a home.

Every quarter-point change in interest rates is equivalent to approximately $6,000 for every $100,000 borrowed over the course of a 30-year fixed. While different in each region, for the sake of simplicity, let’s assume that the average person is putting $40,000 down and borrowing $200,000 to pay the price of a typical home nationwide. Thus, over the course of the life of the loan, each quarter-point move up in interest rates will cost that buyer $12,000.

Loan Costs

Stay with me now. We are at 5%. As you can see by the graph above, as the economy stabilizes, it is reasonable for us to see 30-year fixed rates climb to 6% within the foreseeable future and probably to a range of 7% to 8% when the economy is humming again. If every quarter of a point is worth $12,000 per $200,000 borrowed, then each point is worth almost $50,000.

Let’s put that into perspective. You have a good stable job (yes, unemployment is at 10%, but another way of looking at that figure is that most of us have good stable jobs). You would like to own a $240,000 home. However, even though home prices have steadied, you may be thinking you can get another $5,000 or $10,000 discount if you wait (never mind the $8,500 or $6,500 tax credit due to run out next spring). Or you may be waiting for the news to tell you the economy is “more stable” and it’s safe to get back in the pool. In exchange for what you may think is prudence, you will risk paying $50,000 more per point in interest rate changes between now and the time you decide you are ready to buy. And you are ignoring the fact that according to the Case-Shiller index, home prices in most regions have been trending back up for the last several months.

If you are someone who is looking to buy or upgrade in the $350,000-to-$800,000 home price range, and many people out there are, then you’re borrowing $300,000 to $600,000. At 7%, the $300,000 loan will cost just under $150,000 more over the lifetime, and the $600,000 loan an additional $300,000, if rates move up just 2% before you pull the trigger.

What I’m trying to impress upon everyone is that if you are planning on being a homeowner now and/or in the foreseeable future, or if you are looking to move your family into a bigger home, then pay more attention to the interest rates than the price of the home. If you have a steady job, good credit, and the down payment, then you really are being offered the gift of a lifetime.

Short Sale or Loan Modification Help for You or a Friend in Need

Courtesy of JILL BERNI – Home & Loan Broker

I Will SaveYour Home (or a Friends) from Foreclosure at No Cost !… (* Sacramento, Placer, El Dorado)

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craigslist sacramento | all… • 51 min

*26% of all Foreclosures, Never Even Asked for Professional Help..WHY?

* It’s Not an Insult to Seek Professional Help, especially if most of it is Free ! …Who you know that is behind on their House Payments, and is too embarrassed to seek a practical Solution…? Better still who do you know that is borrowing from their Savings or Credit, trying to fool the Bank into thinking they are “current”… Finally, the Rules have changed: Banks have recently chan

craigslist sacramento | all… • 3 hours ago

Your Listing Wanted – We Sold this House in 4 Days !

We saved this House from Foreclosure, by negotiating a Short Sale in with the Bank in September, and Clearing the Loan in October…all while our Client enjoyed his new job in Hawaii…Debt-Free! SERVING: Northern California : Sacramento Placer El Dorado ,Realtor in El Dorado Hills ,Realtor,Oak tree home and loan,El Dorado County, Garden Valley (95633), Rescue (95672), Shingle Springs /

craigslist sacramento hous… • 1 day ago

Why DidntYour Lender Mention a Streamlined Atlternative toForeclosure?

…Why? …Because it’s too early for them to have Mandated systems in place.The government “Suggested” that they have alternatives in place this year, and were willing to pay them to find a Pre Foreclosure settlement for you. …Because we have been in the Mortgage business for many years, and we have direct Brokerage with many Banks and Financial Institutions, this allowed us access to Insider

craigslist sacramento | all… • 3 hours ago

*Short Sale or Loan Modification, Which is Best to Save Your Credit?

Just Visit: http://www.LoanModification-vs-ShortSale.com Help Save the Credit Rating of Someone You Know Who you know that is behind on their House Payments…? Better still, who do you know that is borrowing from their Savings or Credit, trying to fool the Bank into thinking they are “current” … Banks have recently changed the way they do business. Finally, the Rules have changed i

craigslist sacramento finan… • 3 hours ago

Rent to Own – We Saved this Home from Foreclosure 4 You ! (Sacramento Placer El Dorado County) $2000 5bd

JILL | Broker………………DRE#01043608 | BERNI 2 Stop Foreclosure, Sacramento County, CA We Are Saving This Home From Foreclosure. The Owners get to move across the street, into a larger Home, for 1/2 of the old Payment ! How is this pos 5BR/3BA Single Family House offered at $199,000 Year Built 2000 Sq Footage 2,900 Bedrooms 5 Bathrooms 3 fu

craigslist sacramento hous… • 1 day ago

At Last, You Can Compare Short Sale vs Foreclosure HERE >

——————————————————————————– This Critical information is necessary for you or a Friend, to make an informed decision ! Visit: >br> http://www.gotooaktree.com/purchase.html OR, call our 24Hr recorded message for details: 1 866 866 6662 x5555 Jill Berni – Broker/Owner Celebrating …30 Years of Customer Service…Licensed and

craigslist sacramento services RSS Feed … • 1 day ago

Pre Foreclosure Homes Wanted for Rent to Ownership, Lease Options,

Simply put… We need housed for our Pre-Foreclosure Clients, with good incomes, that can’t afford their exploding $3-5000/mo payments, and would gladly pay $1500-3500 for an executive Home. We save people from foreclosure, and have homes for Lease Option to save other families from foreclosure…Investors, HomeOwners, and Future Homeowners are welcome to help us Save people from 7 years bad luck.

craigslist sacramento all housing search … • 1 day ago

REO Realtor in El Dorado Hills – Google Maps

REO Realtor in El Dorado Hills – Google MapsSource: maps.google.comReview(Required field cannot be left blank)(Your review must be at least 20 characters)(Your review can be at most 4096 characters)    http://maps.google.com/maps/place?hl=en&georestrict=input_srcid%3A6765b8eb645b44d3

Jill Berni’s Facebook Links • by Jill Berni • 2 days ago

OakTree Home & Loan – Google Maps

OakTree Home & Loan – Google MapsSource: maps.google.comFREE Over-The-Net Home EvaluationBUY – SELL – REFI – INVEST …24Hr recorded message gives details: 866 866-6662 x5555 http://www.sellmyhouseforallitsworth.info/homeeval.asp    http://maps.google.com/maps/place?hl=en&georestrict=input_srcid%3A29c54cb4957d12e0

Jill Berni’s Facebook Links • by Jill Berni • 2 days ago

Bank Approved short sale price on this Crestview Florida home back on the market

video MLS#: 513902 OfficeFile#: ListPrice: $109,000 Status: Contingent ApproxSF: 1,320 BG: Address: 195 CABANA WAY $/Sqft: $75.00 CRESTVIEW, FL Bedrooms: 3 Zip: 32536 Baths Full/Half: 2/ County: OKALOOSA Stories: 1 MainArea: 25 Crestview Area YearBuilt: 2005 SubArea: 02 CRESTVIEW SOUTHWEST OccStat: Occupied Subdiv: RIDGE CREST PH II ImmOcc? ParcelID: 18-3N-23-1261-000C-0120 Cons

short-sale « WordPress.com Tag Feed • by okaloosamls • 3 days ago

Expired Listings Exchanged for Our PreQualified Buyer Clients

It’s Not Your Fault That Your Home Did Not Sell Perhaps you should Hire a Broker with hundreds of Past customers, and the in-house mortgage Company to Fund them ! 24Hr recorded message gives details: 1 866 866 6662 x5555 <p. 24Hr recorded message gives details: 1 866 866 6662 x5555 Jill Berni – Celebrating 30 Years of Customer Service BROKER/OWNER 916 834-2822 916 933-4454 -f

craigslist sacramento all housing search … • 4 days ago

*Had a Loan Modification Fail ? Need No Cost Solutions ?…

* Who do you know with a , Loan Modification Failure ? Then you need to deal with an Agent, that is Licensed and Insured, with 100% success helping People just like you. Need a 11th Hour reprieve from the Governor? that would be the Dream deal…Huh…… Lets face it, the only way to beat the Bank is to relieve the Burden of your Mortgage, find a place to land in your own Neighborhood with

craigslist sacramento | all services searc… • 4 days ago

Shortening short sales

In another attempt to keep foreclosures from doing continued harm to the real estate market and the overall economy, the U.S. Treasury is trying to speed up the short sale process. Short sales are when a bank agrees to let a homeowner sell a house for less than he or she owes. Short sales can cut lenders’ losses and doesn’t damage a person’s credit as badly as a foreclosure. There have been abou

JILL BERNI – Real Estate • 6 days ago

agent

10 Time-Saving Tips to Take the Stress Out of Moving

When it comes to moving, a little preparation goes a long way. As a member of the Top 5 in Real Estate Network®, my experience tells me that tons of time and energy can be saved by planning ahead, staying organized and focusing on details. Here are 10 great, time-saving tips to make moving fast and efficient, courtesy of HGTV’s FrontDoor.com: 1. Make a moving schedule. Starting 60 days before the

short-sale « Word… • 1 hour ago

Government mortgage plan provides little permanent help

Upside down on equity? Behind on payments? Click here to visit Tampa Bay Short Sales Online! www.TBshortSales.com Government mortgage plan provides little permanent help The Obama administration’s mortgage relief plan has provided permanent help to only 4 percent of borrowers who have signed up. Bank of America had the worst performance in the Treasury report released Thursday, with just

short-sale « Word… • 3 hours ago

Discover Real Estate Opportunities-Consider the Benefits of a Short Sale

Real Estate Basics: What is a Short Sale? According to the National Association of REALTORS (NAR) website a short sale is “a sales transaction in which the seller’s mortgage lender agrees to accept a payoff of less than the balance due on the loan.” (1) A short sale happens when the seller is unable to satisfy the amount owed on the home because of dropping home value. Once the short sale is comp

short-sale « Word… • 11 hours ago

asset management

Are Short Sale Flips Ethical?

A short sale flip is nothing more than the process of an investor purchasing a short sale property and reselling it immediately for a cash profit. The transaction occurs when a buyer (investor) purchases a short sale from a seller, gets lender approval on a price, and then re sells the home for a profit before it has even closed escrow!  This is often done by using a Title & Escrow Company who

short-sale « Word… • 21 hours ago

JILL BERNI Real Estate Services on- Bing.com, Live .com Microsoft Real Estate Search

24Hr Recording stops foreclosure: 866 866 6662 x5555 ShortSale vs. Foreclosure A Case for the Short Sale Our Mission We at OakTree Real Estate Services are providing concise information that prudent Home Owners require. What is a Short Sale? How does one work? What does the bank need from me in order to consider the homeowner for a Short Sale? How can I avoid the frustrations commonly assoc

Jill Berni Realtor in E… • 2 days ago

broker

Short Sales, What You Need To Know!

Most home sellers have no idea how short sales work and what all is involved.  In addition, they have no idea that 95% of all real estate agents, get less than 20% of their short sales to close.  That means that 80% of the sellers, are doing all the work, going through the process, but not getting to their goal….the closing.  Please let us help you so you avoid foreclosure as this doesn’t help any

short-sale « Word… • 1 day ago

craigslist sacramento | all services search “jill berni”

Our Mission We at OakTree Real Estate Services are providing concise information that prudent Home Owners require. What is a Short Sale? How does one work? What does the bank need from me in order to consider the homeowner for a Short Sale? How can I avoid the frustrations commonly associated with this type of transaction? Local Broker, JILL BERNI has become increasingly motivated to educate and

Jill Berni Realtor in E… • 2 days ago

Jill Berni Google Map, Local Business Real Estate Websites

Use Google maps to find Jill Berni, Realtor in El Dorado Hills. Jill Berni Home & Loan Broker,Celebrating 30 years of Customer Service. “You can’t bring her a Problem she hasn’t Solved before” MISSION STATEMENT It is the mission of the Jill Berni Team to consistently provide the highest quality, most innovative, and exceptional real estate service available anywhere in the

Jill Berni Realtor in E… • 4 days ago

california

Mortgage rates still below 5 percent

Mortgage rates rose this week but still remained below 5 percent, Freddie Mac said Thursday.

Seattle *real estate* n… • 5 hours ago

Home short sales likely to increase

Denver Business Journal Compiled by Paula Moore December 2, 2009 – Re/Max International Inc. of Denver expects “short sales” — sales of homes for less than the amount owed on the mortgage — to increase nationwide because of the federal government’s newly released guidelines for such sales. “Until now, the short sale process has been cumbersome for all involved, and took upwards of eight to 10 mont

short-sale « Word… • 1 day ago

Further action to ease the stress of short sales

I am SO close to approval on a great short sale listing I have. It has been in negotiations with the bank since July/August. We’ve finally made headway with the bank and we are all hopeful for a formal approval with full release of lien and debt for my sellers! It made me think of the process and how I truly hope that 2010 is the Year of the Short Sale and we get this figured out! So here is the l

short-sale « Word… • 1 day ago

folsom

New Foreclosure and Short Sale Assistance Program

The U.S. Treasury Department announced new guidelines last week designed to make short sales go more smoothly. To qualify under these new guidelines: The property must be the home owner’s principal residence; The home owner must be delinquent on their loan or close to defaulting; The loan must have been made before Jan. 1, 2009, and be for less than $729,750; and The borrowers’ total payment must

short-sale « Word… • 2 days ago

Making A Short Sale Offer

A short sale is when a homeowner wishes to sell their home below what they owe on the property. Homeowners find themselves in this kind of situation mainly because they borrowed aggressively when credit was easy and now have little or no equity in their home because property values in Northern Virginia declined anywhere from 20 to 30 percent in the past three years. Homeowners decide to sell their

short-sale « Word… • 2 days ago

Short Sale: Pitfalls and Solutions

Short Sale: Pitfalls & Solutions Pitfall: Your Property is Priced Incorrectly Solution: Agent Providing Understanding and Transparency. Pitfall: Your Short Sale Proposal is Incomplete. A most frequent reason for rejection of short sale proposal. Many do not understand the process for short sales and what the lender seeks. Solution: Understand All Aspects of the Process Choose the right agent t

short-sale « Word… • 2 days ago

foreclosure

What’s a short sale anyway?

Check out this video about short sales!  http://www.youtube.com/watch?v=YCg6WJ75kyU Love your feedback!

short-sale « Word… • 3 hours ago

New Realtor Presentation

Got some GREAT news here! Watch the Video for a complete step by step short sale process. Please forward to your Realtors who may have any doubt about who we are and what we do. This is the nuts and bolts. If they after watching this video and reading the faq’s here still want to hesitate, then we know who we are dealing with and may not want to work with them. We want motivated Realtors who want

short-sale « Word… • 2 days ago

HAMP Update – New Program Offers Borrowers Foreclosure Alternatives

Government Announces Short Sales Guidelines The U.S. Treasury Department announced new guidelines last week designed to make short sales go more smoothly. To qualify under these new guidelines: The property must be the home owner’s principal residence. The home owner must be delinquent on the mortgage or close to defaulting. The loan must have been made before Jan. 1, 2009, and be for less than

short-sale « Word… • 2 days ago

116 Summit CT Niceville FL bank priced approved short sale back on market

video Tucked away in Blue Pine Village. Great location and this home offers many upgrades some of the kitchen upgrades tumbled-stone countertops,New appliances in the kitchen include Fridge,Stove,Dishwasher.Custom landscaping and beautiful stone-faced fireplace. This home offers a privacy fenced backyard and sprinkler sys & well. Master BR has private door to patio and large walk-in closet. Dining r

short-sale « Word… • 3 days ago

Getting Prepared for an Aggressive Market

Today’s real estate industry has taken a major change over the past 24 months and will probably be taking a bigger change in the months to come. We have seen prices decline considerably from what they were 2 and 3 years ago. The amount of short sales and foreclosures has increased drastically. Today’s economy has affected us all.  Lending has gotten tighter, loaning money and the criteria to get a

short-sale « Word… • 3 days ago

Statistics You Need
Current Tri-Cities Real Estate Statistics as of
now 11/18/2009
Active Residential Listings                        984
Last Year This time                                     1395
Contracts Written (U/c. ATB, SOLD) Information
Total Contracts Written YTD ……………..3219
Last Year This time      ………………………2741

Sold/closed Information
Number of Residential Sales YTD . . . . ……. . 2861
Compared to I Last Year YTD . . …………….. 2725
Average Sold Salesprice . . . . . . . . . . ….. … . $188,872
Compared to Last Year YTD . ……………….. $ 190,669

Avg. SOLD DOM . . . . . . . . . . . . . . . . . . . 110
Compared to Last Year YTD .  . . . . . . . . . .110

New Construction Information from HBA
Year to Date-same time in:
——————————————2009  2008  2007
Total Building Permits              899   910  1128
Kennewick                                      213  201  277
Richland                                        63  203  251
Pasco                                              399  367  470
W Richland                                    124 139 130
Active New Construction . . . . . . . . . . 208
Last Year This Time . . . . . .     370
AVG. Active List Price for New Const. . . $290,624
Total New Construction Sales YTD . . . . . . . . 655
Last Year This Time    . . . . . . . . . . . . . . . . 701
Average Sold Price for New Const. . . . . . $239,758
Last Year This Time .          . …………………$244,717

Stats were Created by Windemere based on information
from the Tri Cities Association of Realtor s
multiple listing service  11/18/09

Part 1: Risks

If you ask homebuyers why they are looking at foreclosures, the answer often is, “Because they’re such a good deal.” The word “deal” for me is on par with other four letter words which I won’t mention (but you can guess). Deal is a selfish word. Deal is one of those temptation words. What kind of deal comes with no risk? You get a deal on that car – do you really expect that ugly orange color to be good at trade-in? You get a deal on clothes – are you sure they’re going to be in style long enough to wear them more than a few times? What kind of deal do you get on food that has less than 1,000 calories or 200% of your daily sodium allowance? Are those really a deal?

Well, buying a foreclosure home CAN be a good deal for those buyers who have some cash to put into the houses when they buy them. As a realestate agent I have discovered that many buyers have a down payment in this market but not additional money to fix up everything they feel needs to be done in the first 6 months they own the foreclosure.

Hidden defects are what homeowners fail to factor into their budget for improvements. When you cannot turn on utilities before closing you cannot check heating and air conditioning or kitchen appliances. The water is off so you can’t check the plumbing or the well and septic.

Risk = reward

Naiveté = financial distress

Delusion = lack of equity

Next – Part 2: Buying the benefits of buying a foreclosure

Clearview is one of three neighbourhoods in Southeast Oakville, ( Ward 3), Ontario.  According to the Statistics Canada 2006 census, Clearview has a population of 7280.  Over the past 20 years, Clearview’s population has consistently exceeded the Town of Oakville’s projected “ultimate population” of 6000.

DEMOGRAPHICS: In Clearview 33.7% of the population are in the 0-19 age group, compared to the overall Oakville total of 28.4%.  Only 4% of the population falls within the over 65 age group compared to the overall Oakville total of 10.9%. 

LOCATION: Clearview is bordered by the QEW to the north, Winston Churchill Blvd. to the east, Royal Windsor Drive to the south, and Ford Drive to the west. 

TYPE OF NEIGHBORHOOD: The community consists of just over 2200 homes, with many executive detached properties, along with some link homes, and freehold townhomes. The typical detached home in Clearview has 2 storeys, 4 bedrooms, and a double car garage; size is anywhere from about 2400 square feet to 3700 square feet and larger. The link homes and freehold townhomes are smaller, and can be terrific starter homes for young families. Much of Clearview was built in the late 1980s and early 1990’s, by such prestige builders as Kaneff Homes.

PARKS: There are many parks and open greenspace areas such as Clearview Park, Wynten Way Park and Kingsford Gardens, which are all connected by the Avonhead Ridge Trail.  Clearview Woods is located across the street from Kingsway Park. 

SCHOOLS: There is a Catholic elementary school – St Lukes - located in the heart of Clearview.  A long-awaited public elementary school is currently under construction next to Clearview Woods. It will offer junior kindergarten to grade 8 when it opens. French immersion is available nearby at  Maple Grove School.  

COMMUTING: One of Clearview’s best attractions is its close proximity to both the QEW highway and the Clarkson GO Station, making it an easy commute to places anywhere in the GTA.

SHOPPING: Clearview offers terrific shopping options, with a major mall located at Southdown Road and Lakeshore Blvd, as well as nearby supermarkets such as Longo’s located at Trafalgar Road and Dundas. 

HOUSE PRICES: Another very attractive aspect of Clearview is its relative affordability compared to many other neighborhoods in the town of Oakville. Clearview delivers the upscale, executive Oakville lifestyle at an attractive price!