Aug. 6, 2010 - Higher monthly fees are coming for consumers who take out home loans guaranteed by the Federal Housing Administration, the primary source of mortgages for first-time homebuyers.The Senate late Wednesday unanimously approved legislation giving the FHA the power to hike monthly premiums it charges to consumers. The measure now goes to President Barack Obama, who is expected to sign it.The new law would affect new loans and not ones that already have been made.Officials say the agency needs the authority to stabilize its finances, which have deteriorated because of the foreclosure crisis. The fees are projected to bring in an extra $3.6 billion per year, according to the FHA.The agency does not make loans, but offers insurance against default.People who take out FHA-backed l... 08/07/2010

Single Family Home for sale in Graceville, FL Overview Maps Photos Description $225,000 Single Family HomeFor Sale Main Features 3 Bedrooms2 BathroomsInterior: 2076 sqft Location 5362 Cherry StGraceville, FL 32440 To get updates on open home dates and other property events, please click the "Like" button below: Christopher Shearer Highlight Realty(850) 263-6607chris@americaoneflorida.comhttp://www.forgottencoastlife.com/graceville Listed by: Christopher Shearer Highlight Realty See more Graceville, FL real estate for sale 08/05/2010

The tax credit expired, but it's still a great time to buy a home thanks to low mortgage rates and motivated sellers. Here are five reasons why now is a great time to buy:1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today's record-low rates, they start building equity as soon as they close. That means they can absorb a few ups and downs as the still-recovering housing market gains traction.2. Houses are in move-in condition. Homeowners continue to spend on maintenance and repair, according to the Harvard Joint Center on Housing. As these houses enter the market, they stand in marked contrast to tattered foreclosures.3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system, and they are being replaced by some ver... 08/05/2010

Emily Rennie's three-bedroom house in Oakland was a beauty in a sweet location. Walking distance to the lakeshore. Close to shops. A refurbished patio in the back. Inside, a modern kitchen with granite countertops.Listed at $539,000 when she put it on the market, the Excelsior Avenue house was missing one crucial thing: The right price. After a few weeks with no offers, she cut the price to $499,000 in May. Then she cut it to $475,000 in June. She is still hoping for an offer.Rennie is discovering the cold reality of post-housing-bust prices: No matter what she thinks her house is worth, what matters is what buyers are willing to pay. That can be a lot less in areas where the supply of houses for sale is swollen by foreclosures and short sales, often priced 20% to 30% below the ones bei... 07/30/2010

Real estate investment and development has never been a more popular pastime or career changing challenge; if you would like to learn seven secrets for consistently successful real estate investing through development or you would like to know how you can continue to profit from property even if the market takes a downward turn just read on... 1) Do Your Location Homework - did you know that through successful and sustained location research professional property investors actually continue to profit during a market down turn? It's true - whatever the market conditions you can apply their location research approach to your real estate investments and also make consistent profits from property. Take the necessary time to learn all about a town or city you're considering for your next pro... 07/22/2010

Bankruptcy can save your house from foreclosure By Les Christie, staff writerJuly 21, 2010: 8:13 AM ET NEW YORK (CNNMoney.com) -- Slick TV commercials and online ads tell delinquent borrowers that they can save their homes by filing for personal bankruptcy. But is it true -- or just too good to be true? True! Bankruptcy can bring foreclosure proceedings to a halt, end harassment from debt collectors, and give borrowers time to make up missed payments and reorganize their finances. In some cases, bankruptcy can also help mortgage borrowers save their homes permanently. It's not, however, going to help every troubled homeowner. If, for example, the homeowner's biggest problem is not enough money, bankruptcy is not going to solve that. "It's the best tool there is for people behind in paym... 07/22/2010

Buying Your First Home Finding the right first home starts with a price range and a short list of desirable neighborhoods. But there are many other factors you'll need to consider before investing in what may be your biggest asset. Before You Start Grab your current household budget so you can consider your financial situation and your ability to make mortgage payments. Ask family and friends if they can recommend experts, like a lawyer and an inspector, who can help with the home buying process. Think about your lifestyle and how it might affect your choice of home and neighborhood. Do a little research on current home prices in the neighborhoods you plan to target. How-To Guides   Buying Your First Home Your Retirement Checklist Using Credit Wisely Financing a New Car View more how-to... 07/22/2010

Feinberg: Unsure on real estate commissions WASHINGTON - July 21, 2010 - Kenneth Feinberg, administrator of the federal program to oversee compensation for losses from the oil spill in the Gulf of Mexico, testified before the House Judiciary Committee this morning.Feinberg dealt with questions about Realtor compensation a few times, saying he had heard a great deal from Realtor organizations and understood that business has been impacted. However, he did not offer solid answers.Speaking about all claims, Feinberg said that a line has to be drawn on who gets compensation. He called certain situations "easy," such as fishermen who can no longer fish. He called other situations doubtful, such as a hotel 20 miles from the beach that claims a drop in reservations or a Midwestern restaurant t... 07/22/2010

CNBC study: Fla. has top state workforce TALLAHASSEE, Fla. - July 16, 2010 - The ranking came in CNBC's fourth annual America's Top States for Business rankings - a study of all 50 states that examines 10 different categories, including workforce, to measure each state's ability to attract businesses. Under "Workforce," Florida moved up from 2009's number three spot, reclaiming the number-one rank the state held in 2008."The Sunshine State is home to the best talent in the world," says Governor Charlie Crist. "We are committed to creating a highly skilled, innovative workforce across all industry sectors, and we take great pride in the role our workforce plays in driving Florida's businesses into the 21st century."Overall, however, the survey ranked Florida No. 28 nationally for busines... 07/16/2010

More Americans' credit scores sink to new lows NEW YORK - July 13, 2010 - The credit scores of millions more Americans are sinking to new lows.Figures provided by FICO Inc. show that 25.5 percent of consumers - almost 43.4 million Americans - now have credit scores of 599 or below, marking them as poor risks for lenders. It is unlikely they will be able to get credit cards, auto loans or mortgages under the tighter lending standards banks now use.Because consumers relied so heavily on debt to fuel their spending in recent years, their restricted access to credit is one reason for the slow economic recovery."I don't get paid for loan applications; I get paid for closings," said Ritch Workman, a Melbourne, Florida, mortgage broker. "I have plenty of business, but I'm struggling to stay op... 07/13/2010

Some banks lower appraisals, killing sales WASHINGTON - July 13, 2010 - It's a common Realtor complaint: A property going to contract appraises for less than expected. The buyer cannot put more down; the seller will not lower the price; the sale falls apart.In some cases, however, the appraiser is not the cause. Banks - fearful of Fannie Mae and Freddie Mac policies that mete out punishment if a house is over-valued - err on the side of caution by shaving value off the appraisal. If guilty of price inflation, they could be forced by Fannie Mae to buy back the mortgage at a substantial cost. By dropping the appraisal value, they hope to avoid any suggestion that they inflated the numbers.Frank K. Gregoire of St. Petersburg, vice chairman of the National Association of Realtors' Appraisal... 07/13/2010

Mortgage rates hit another record low Mortgage rate Trend index This week, 33% of the industry experts polled by Bankrate.com believe mortgage rates will rise over the next week or so; 11% think they'll fall; and 56% believe rates will remain relatively unchanged. McLEAN, Va. - July 9, 2010 - U.S. mortgage rates fell for the second straight week to the lowest level in five decades, as a refinancing boomlet took hold.Mortgage company Freddie Mac reports that the 30-year fixed-rate mortgage (FRM) average 4.57 percent, down from last week when it averaged 4.58 percent. That's the lowest level since Freddie Mac began tracking rates in 1971.Last year at this time, the 30-year FRM averaged 5.20 percent."With mortgage rates falling to historic lows, refinance activity has been strong over the ... 07/13/2010

Homeowners hit with higher insurance premiums DELRAY BEACH, Fla. - July 12, 2010 - Warren Kurtzman was elated when Gov. Charlie Crist vetoed legislation last month that would have made it easier for insurers to raise property insurance premiums.That's why it came as a shock when his insurer, HomeWise Insurance, informed Kurtzman two weeks later that the premium on his Delray Beach condominium unit is increasing by 42 percent - from $609 to $864 - this year."I thought [the veto] was the greatest thing in the world," Kurtzman said, "and all of the sudden, I get this [notice] and I almost choked!"Despite Crist's veto, and four relatively quiet hurricane seasons, thousands of Florida residents are experiencing similar rate hikes this year. The reason: Crist's veto doesn't end rate increases... 07/13/2010

BP reports progress on oil cap; Gulf Coast waits NEW ORLEANS (AP) - July 12, 2010 - Underwater robots steadily assembled heavy metal pieces Monday as BP prepared to install a tighter cap over its busted well at the bottom of the Gulf of Mexico, offering hopeful signs that it could soon bring the gusher under control.The oil giant said it was ahead of its schedule to get the new, better cap in place. Once the cap is in place and working properly, officials hoped it would capture all of the oil spewing out of the well and that it can all be funneled to containment ships at the surface."The hope is that we can slowly turn off the valves, close the capping completely and then test pressure to see how the well is performing," Thad Allen, the government's point man on the disaster, said on CB... 07/13/2010

At BP claim center, varying success for applicants PENSACOLA, Fla. (AP) - July 12, 2010 - It is a tale of two claims.In Gov. Charlie Crist's visit Friday to a BP claims processing center here, he heard from a business owner who was happy with the movement of her case, and one who tearfully said she'd received no help.On the positive side, Katrina Mougey said she and her husband had already received about $11,000 from BP for losses at their two rental properties on Pensacola Beach, which are going empty because of cancellations."The phones went dead and the e-mails canceled," Mougey told Crist. "Everything just stopped."Mougey said she's worried about the loss of value of the properties. But she said she was happy with BP's help so far, though it doesn't cover the total estimated losses ... 07/13/2010

Mortgage rates drop to another low, 4.58% Mortgage Rate Trend Index  This week, 43% of the industry experts polled by Bankrate.com believe mortgage rates will rise over the next week or so; 19% think they'll fall; and 38% believe rates will remain relatively unchanged.  WASHINGTON - July 2, 2010 - Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren't rushing to refinance their loans or buy homes.Mortgage company Freddie Mac said Thursday the average rate for 30-year fixed loans sank to 4.58 percent this week.That's down from the previous record of 4.69 percent set last week and the lowest since the mortgage company began keeping records in 1971. The last time they were cheaper was the 1950s, when most long-term home loans lasted just 20 or 25 years... 07/02/2010

WASHINGTON - June 25, 2010 - Mortgage rates fell this week to the lowest level on records dating to 1971, giving consumers added incentive to lock in low payments for home purchases and refinanced loans. The average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week, mortgage company Freddie Mac said Thursday. That's the lowest point since Freddie Mac began tracking rates in April 1971. The previous record of 4.71 percent was set in December. Rates for 15-year and five-year mortgages also hit lows. Mortgage rates have fallen over the past two months as nervous investors have shifted money into the safety of Treasury bonds. The demand for Treasurys has caused Treasury yields to fall. And mortgage rates tend to track the yields on long-term Treasurys. Yet the f... 06/29/2010

Realtors along Gulf lose contracts, hope as spill halts recovery of fragile market PANAMA CITY BEACH, Fla. - June 28, 2010 - Panhandle Realtor Deborah Orr has lost four home sales since the Deepwater Horizon oil spill branded the Sunshine State with a tar-spattered scarlet letter. She's got the e-mails and canceled contracts to prove it."I have been up since 2 a.m. studying the spill. I believe the safest proactive move to make right now is to pull out," a June 3 message reads.Another: "I have all the complexities worked out as far as financing; but the news on the oil spill is of great concern."Throughout the Panhandle and south to Monroe County, withdrawn sales contracts, abandoned vacation rentals and diminished property values are driving an increase in real estate claims made to oi... 06/29/2010

 Trading Down: Can It Still Bankroll Your Retirement? Trading down to a smaller home is a retirement-planning staple. According to an April study by the Society of Actuaries, 20% of not-yet retirees say they plan to downsize after the last child leaves the nest. But it is getting a lot harder to do, even for wealthier people. A study by the Joint Center for Housing Studies at Harvard University, scheduled to be released on Monday, shows that while mobility has slowed across all age groups during the real estate bust, "mobility rates among seniors have posted the sharpest drop." Trade-downs in March comprised about 8% of total home sales, down from 12% in October 2008, the first year for which there are historical comparisons, according to the National Association of Realtors. Why are pr... 06/22/2010

What is a CMA? The best method available to home sellers to learn their home's current value so they can select the best sale price is a CMA Everyone who has ever sold a car knows they have to first find out how much it is worth and what people are willing to pay for it. It's easy to gather the information you need to set a price from newspapers, the Blue Book, or online used car sales sites. When you've gathered this information you can then set a price that potential buyers will find attractive. It's really pretty simple and requires very little pricing expertise. If you want to sell your home, it's not so easy and it's certainly not simple. The value of your home is much more difficult to predict and the information available to home sellers can be untrustworthy. Online home valuatio... 06/17/2010