Buy Retirement Home Now, Move in Later

Buy Retirement Home Now, Move in Later With prices in many areas at a low ebb, it may make sense to buy a retirement home now and rent it out until you're ready to move. Read more >

EFFECTS OF MOLD ON REAL ESTATE

BANKERS' GROUP REVISITS EFFECTS OF MOLD ON REAL ESTATE
Concerns about mold and its potential effects on indoor air quality and property values appear to have taken a back seat to other real estate issues, but that doesn't mean that someone isn't thinking about. (Source: Realty Times) Full Story . . .

Tighter lending standards affect April existing-home sales

Total existing-home sales, including single-family, townhomes, condominiums and co-ops fell 2.6 percent to a seasonally adjusted annual rate of 5.99 million units in April from an upwardly revised level of 6.15 million in March, and are 10.7 percent lower than the 6.71 million-unit pace in April 2006. “We’ve been anticipating slower home sales because many subprime loan products are no longer available,” said NAR Senior Economist Lawrence Yun. “In addition, increased scrutiny by lenders is stopping risky mortgage origination, which is good for both consumers and the lending community.”The national median existing-home price for all housing types was $220,900 in April, down 0.8 percent from April 2006 when the median was $222,600. Total housing inventory rose 10.4 percent at the end of April to 4.20 million existing homes available for sale, which represents an 8.4 month supply at the current sales pace, up from a 7.4 month supply in March.

Manufactured Homes

Manufactured Homes - Not Tin Cans on Wheels

Factory-built homes have suffered an image problem, but experts say they've become good investments. One hurdle that remains is financing.

Complementary Home Valuation

The correct selling price of a home is the highest price that the market will bear. To assist you in determining the correct asking price we provide you with a comprehensive market analysis of comparable properties sold and offered for sale in your neighborhood.To provide a more detailed Comparative Market Analysis, we would be more than happy to also assess your listing in person. Simply enter your criteria at the link listed below, and we will provide you with a speedy response. The more information given, the more accurate the evaluation. All information you provide is secure and will be kept strictly confidential. There is no obligation. Please indicate when you are thinking of selling and if you are moving within Ithaca or relocating outside Ithaca. Fill out the information and submit the form at ...http://dianemclafferty.point2agent.com/Home_Evaluation/page_163208.html

ARM LOANS

Arms, in my opinion, are suitable for a only very small slice of the borrowing public; specifically, those of very high credit quality with high net worth, who use it as a tool to manage cash flow. An option-ARM should NEVER be used simply to be able to afford a mortgage that under normal circumstances would be out of reach; that is just stupid and asking for disaster.

Real Estate Questions or Comments ...

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HOUSING FORECAST CHANGED SLIGHTLY DUE TO IMPACT FROM TIGHTER LENDING

Housing activity this year will be somewhat lower than in earlier NAR forecasts, with clearer analysis of the effects of stricter lending standards and a decline in subprime mortgage origination, according to the latest projections by the National Association of REALTORS®. (Source: NAR) Full Story . . .

FREE Comparative Market Analysis for Ithaca Sellers

The correct selling price of a home is the highest price that the market will bear. To assist you in determining the correct asking price we provide you with a comprehensive market analysis of comparable properties sold and offered for sale in your neighborhood.

To provide a more detailed Comparative Market Analysis, we would be more than happy to also assess your listing in person. Simply enter your criteria at the link listed below, and we will provide you with a speedy response. The more information given, the more accurate the evaluation. All information you provide is secure and will be kept strictly confidential. There is no obligation. Please indicate when you are thinking of selling and if you are moving within Ithaca or relocating outside Ithaca.

Fill out the information and submit the form at ...

http://dianemclafferty.point2agent.com/Home_Evaluation/page_163208.html

GREEN HOME BUYERS PAY, SAVE MORE

Oh sure, home buyers who've purchased those new fangled "green" homes are pretty pleased with themselves. They dug deep to afford the extra cost of buying green, they rode the green home technology learning curve and, given the short supply of green homes, they managed to find a green house where they really want to live -- whatever it takes to help the species control its petrol habit and keep the habitat from heating up, washing out or losing other species. But what really gets green home owners tickled pick is their reduced operating costs. (Source: Realty Times)

Full Story . . .

Countrywide: Feds Might Worsen Subprime Loss

Countrywide: Feds Might Worsen Subprime Loss

Don't apply tighter standards to borrowers trying to refinance their way out of a shaky loan, says Countrywide CEO Angelo Mozilo. Read more >

WEATHER HITS MARCH EXISTING-HOME SALES AFTER THREE MONTHLY GAINS

Unusually bad winter weather in February curtailed home shopping, slowing sales that closed in March, which may have been dampened further by a decrease in subprime lending volume, according to the National Association of REALTORS®. (Source: NAR) Full Story . . .

Cayuga Lake Front Cottage

Cayuga Lake Front Cottage ~ very well maintained.

West side of the lake in “Wine Country”. A road to the back door and to the beach as well. Cozy Granite stone fireplace, vaulted ceilings, gleaming hardwood floors, galley kitchen with wood block, Large 24 x 13 screened in porch. 13 x 12 outside deck for the BBQ and lounging. Three bedrooms, sky lights, bunk beds & stacked washer and dryer. Newer appliances. Lawn and Dock & beach. Good fishing ~ relax. MLS # 123847

How Much Earnest Money Is the Right Amount?

How Much Earnest Money Is the Right Amount?

In many markets, deposit money is shrinking as buyers seek 100 percent financing. Read more >

GREEN HOME BUYERS PAY, SAVE MORE

Oh sure, home buyers who've purchased those new fangled "green" homes are pretty pleased with themselves. They dug deep to afford the extra cost of buying green, they rode the green home technology learning curve and, given the short supply of green homes, they managed to find a green house where they really want to live -- whatever it takes to help the species control its petrol habit and keep the habitat from heating up, washing out or losing other species. But what really gets green home owners tickled pick is their reduced operating costs. (Source: Realty Times) Full Story . . .

Fastest Growing Suburbs ...

The 'Burb Rush: Fastest Growing Suburbs

People are leaving the cities and moving to where the cost of living is lower and where they perceive the quality of life is higher. That’s the trend indicated this week by the U.S. Census Bureau when it released an analysis of the fastest-growing counties in the United States. The statistics reflect the period from April 1, 2000, to July 1, 2006, a time when interest rates were historically low, housing boomed, and home prices soared, particularly in metropolitan areas.At the same time, businesses and people packed up and moved to greener pastures, many of them in the Sun Belt. Texas, Florida, and Georgia boast some of the largest growth stories. Here are the top 10 fastest-growing counties and the percentage they grew by in that six-year time span:

1. Flagler County, Fla.: 66.7 percent. On the Atlantic Coast between Jacksonville and Daytona Beach, Flagler's population has boomed from 50,000 in 2000 to more than 83,000 last year. Its seaside location, balmy weather, and access to Interstate 95 are part of the reason for its boom.

2. Kendall County, Ill.: 61.7 percent. The Chicago suburbs that lie along Interstate 88 are all growing, but Kendall County, which is farther from the city, is growing the fastest.

3. Rockwall County, Texas: 60.5 percent. Rockwall, the smallest county in Texas, grew from 43,000 in 2000 to 69,000 in 2006, as people moved farther from nearby Dallas-Fort Worth.

4. Loudoun County, Va.: 58.5 percent. Loudoun's growth is partially due to the increasingly astronomical cost of living in nearby Washington, D.C.


Read more >

Existing Homes Sales Post Gains but ...

Existing-Home Sales Post 'Surprising' GainsTotal existing-home sales rose strongly in February, reaching the highest level since last April, NAR says. Find out what's happening by region.Read more >

Existing Home Sales Rose in January

Sales of existing homes rose in January, reaching the highest level in seven months, according to NAR. Total existing-home sales--including single-family, townhomes, condominiums and co-ops--increased 3.0% to a seasonally adjusted annual rate of 6.46 million units in January from an upwardly revised pace of 6.27 million in December. Sales were 4.3% below the 6.75 million-unit level in January 2006. David Lereah, NAR's chief economist, said observers shouldn't overreact to the sales gain, or to other short-term effects. "Although we’re expecting existing-home sales to gradually rise this year, and buyers are responding to the price correction, some unusually warm weather helped boost sales in January," he said. "On the flip side, the winter storms that disrupted so much of the country in February could negatively impact the housing market." (Source: NAR) Full Story . . .

WILL GREEN ROOFS BE THE NEXT HOT TREND?

If the term "green roof" evokes an image of a few potted plants arranged tastefully on the top of a building, then the time seems ripe to rethink that definition. Green roofs may be the next hot trend to cool down the urban landscape and lower the cost of controlling temperatures in the average suburban home. Green roofs are generally categorized by one of two forms. Extensive green roofs, also known as eco-roofs or low-profile roofs, are made with a few thin layers of soil, are lightweight, relatively less expensive, and require very little maintenance. Extensive green roofs are the correct choice, the experts say, when the primary desire is for an ecological cover with limited human access. Intensive or high-profile green roofs, on the other hand, look like traditional roof gardens because a much wider variety of plant material is usually included. They have soil depths ranging from 8 to 12 inches, with growth that can extend upward of 15 feet. They can include such architectural features as waterfalls, ponds and gazebos. Their construction and maintenance is much more costly. (Source: Bankrate.com) Full Story . . .