Archive for May, 2006
California and Hawaii Try To Subsidize Affordable Housing With Initiatives
If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!The cost of housing in California and Hawaii has gotten so high that it purchasing is beyond the means of many people. To counteract these increased costs, the state governments are both looking to enact legislation that will help [...]
20May2006 | Tom Royce | 0 comments | Continued
Why You Get Your Home Inspected Before Purchase - 200,000 Bees in Walls of Home
If this is not a reason to get your home inspected before you buy it A new Houston, Texas homeowner found over 200,000 Bees in the walls of her home as they were refurbishing it. Experts said that the bees had to have been there for over a year.
A mother of two and her boyfriend [...]
19May2006 | Tom Royce | 1 comment | Continued
San Francisco Bay Area Brain Drain As Prices Skyrocket
As housing prices continue to skyrocket, there is going to be a disincentive to living in the San Francisco Bay Area for intelligent people. A report is showing that people are spending 48 percent of their yearly income on housing to live in the Bay area. This is compared to Charlotte at 24 percent and [...]
18May2006 | Tom Royce | 2 comments | Continued
Chicago to Crack Down on Unlicensed Mortgage Brokers
Fearing a rash of mortgage fraud, the city of Chicago and the State of Illinois are starting a crackdown on unlicensed mortgage brokers and loan originators. They did a program like this previously that netted 190,000 dollars in fines. The fear is that these charlatans will get access to the clients personal information and have the opportunity to [...]
18May2006 | Tom Royce | 0 comments | Continued
Top Affordable Housing Markets in the United States
The National Association of Home Builders has released their housing affordability index. This calculates the affordability of a home by those earning the regions median income. Indianapolis lead the affordability index by having 90 percent of their homes affordable by those earning the median income.
In major metro markets the top 5 cities for affordability are:
Indianapolis
Youngstown – [...]
Boynton Beach Foiled in Eminent Domain Land Grab by Governor Bush
Boyton Beach wants to have a developer of rebuild their downtown area. Of course they were planning on taking the property by eminent domain. Now that option is off the table as Governor Bush signed Florida’s new eminent domain legislation.
Of course, the new law does not kill the project, but it forces the government to [...]
Online Mortgage Aggregators Command Most Market Share
It is not the individual mortgage brokers that are dominating the internet mortgage business, but those that can offer deals from multiple mortgage brokers. This makes sense as aggregators can find the best deals and put those looking for a home loan in touch with the right companies.
Yet, if an individual mortgage company can [...]
Is a Honda Plant Coming to Indiana? Decatur and Ripley Options
Governor Mitch Daniels has announced that Decatur or Ripley may be in the running for a Honda plant that may be coming to the state. While there is no guarantee, Daniels feels that the state has a good chance of landing the plant and is putting together a package of properties to woo Honda.
He [...]
17May2006 | Tom Royce | 0 comments | Continued
Jack Welch Sells Fairfield Connecticut Estate
Jack Welch, the former CEO of General Electric, has sold his Fairfield, Connecticut home for 6.9 million dollars. The selling price was approximately half of the original price it was listed at. Sort of like the GE stock price after he has left that company too. Welch has had the home for sale for 3 [...]
16May2006 | Tom Royce | 0 comments | Continued
More on Mortgage Rescue Fraud
It looks like mortgage “Rescue Fraud” is going to be a hot topic in the coming months as many of those with adjustable rate mortgages (ARMs) are going to be pressed by the increasing interest rates. Many of those with these mortgages will not understand the intricacies of the foreclosure process and the options open [...]
16May2006 | Tom Royce | 0 comments | Continued
I saw this earlier today and thought the exact same thing, Tom. The politicians have been pushing homeownership for ...
I just found your blog and it's filled with great information. One of my goals this year is to update ...
Thanks for the kind words. I promise you the first year we did not have this level of readership. It ...
The limit on jumbo's is either 417,000 OR it is 115% of the median house price, not to exceed 150% ...
I like your blog and I have read many of your articles. I agree that it is amazing the ...
Yes, there are some deals out there. While there are some deals out there, I'm an agent looking for ...
With mortgage rates poised to drop to 4.5 percent all we need now is some tax incentives to help home ...
I think the overall interest in refinancing was definately high recently. However the problem is that although the rates dropped, ...
I have had great success using craigslist. Renters need to be careful and make sure they check out their landlord ...
This is the start of where the market can begin to level out.
Home owners will start to be able to ...
