Know a veteran in danger of becoming homeless? Pass along this information

Written by: Gloria Shanahan

Housing vouchers known as HUD-VASH can help veterans resolve their housing situation if they are in danger of becoming homeless.

HUD and the Department of Veterans Affairs (VA) are working together to provide the fastest and most complete service possible to those who served our country who now need housing assistance.

The first step is to locate the VA center closest to you, register, and explain your circumstances. If you are a low-income veteran, the VA will refer you to the local housing authority nearest you that received HUD VASH vouchers. These are housing vouchers funded by HUD, coordinated by the VA and administered by local housing agencies that allow you to live in the place of your choice.

The basic eligibility requirements are determined initially by the VA, as the veteran must be eligible for medical services from the organization and his or her economic situation should be classified under the definition of homeless as defined by law. Read all the details here.

The person must participate actively in obtaining services to help to stabilize his or her situation. A requirement for participation is to accept the assistance of a social worker to help with handling your case, whether that is related to physical or mental disabilities. The most vulnerable veterans are ideal candidates for this program.

The next step is to contact the housing authority, which determines whether your income level is right for the program and establishes that the veteran and immediate family living with him (or her) are not sex offenders, which automatically disqualifies the person.

Once the eligibility process is determined, the veteran receives a list of homes whose owners are interested in renting to people with housing vouchers, or the veteran can select the property he or she wants, provided the owner agrees to receive payment for the rent on a contract with the housing authority and the tenant. The property must pass inspection to verify that it is habitable and sanitary housing. The next step: move!

If you need help, do not wait. Call the National Center for Homeless Veterans Assistance at 1-877-424-3838.

Selling Your Home This Summer? Three Ways to See Your Home Through a Potential Buyer’s Eyes

3 Ways to View Your House Like a Buyer

1. Move Out Emotionally
2. Develop Your Buyer’s Critical Eye
3. Take a Photo Why Don’t Ya!

Move Out Emotionally

Once you understand that it’s imperative for you to see your house objectively through a buyer’s eyes, it’s not hard to do. Step One. You have to move out! Okay, not physically…yet…but mentally and emotionally. You have “leave” in order to arrive at your house as if you are seeing it for the first time. You need to be a buyer before you can become the seller!

Go away for a few days, or even a few hours if you are short on time. But, when you return, “arrive” as a prospective buyer. Approach your house from a different direction than you normally do. Take different streets. Look at your house as you drive up, try to see it as if for the first time. Shake things up. Don’t park in your garage. Park on the street, just as if you were there to preview the house. Walk up to the front door, and ring the doorbell.

Go through the entire house this way. Observe and see the house for the first time. Sit in the living room for a moment, but NOT in your favorite chair. Use the powder room. You have probably never been in there except on cleaning days. Continue through each room and end in the backyard.

Turn around and look back at your home. Take just one minute to thank that home for all of the time it sheltered you and served as a gathering place for you and yours. Now say goodbye to your home…and say hello to the house you are going to sell. For the next 30 to 60 days, commit to seeing it and living in it in a new fresh way…just as your buyers will.

Develop Your Buyer’s Critical Eye    

Here is another great technique for seeing your house through your buyers’ eyes. This one really helps to identify problems and negativities about your house. As thehome owner, you don’t notice them, but as the home buyer, you sure will!

Again, pretend you are seeing your house for the first time. Take note of the first three negative feelings or impressions that come to you as you look at the house. For example, your first three reactions might be:

• Negative #1. The house feels so bare.
• Negative #2. It looks cheap and really tacky.
• Negative #3. The neighbors are too close.

Once you have identified your first impressions, quickly analyze the problems that create that first impression:

• Problem #1. The house feels bare because there is almost no landscaping.
• Problem #2. It looks cheap and tacky because the front door is cheesy, and the front windows are aluminum and don’t match the original upper floor wood windows
• Problem #3. Nothing separates it from the house next door or defines yard lines.

Now, decide on a solution for each problem:

• Solution #1. I could plant flowering bushes next to the house, put white roses along the walk way and a plant green lawn.
• Solution #2. I could install a new solid-looking front door and give it a good glossy paint color. I will replace the aluminum window with some substantial wooden windows in the original architectural style.
• Solution #3. I could put in fencing or hedges along the sides of the house to help block out the neighbors and take command of the property lines.

Congratulations! You have just learned how to see your home exactly as a critical buyer would. You identified your negative feeling about a house, analyzed the problem that created it and found an essential solution. Now do the same thing throughout your property and go room by room!


Take a Photo Why Don’t Ya

In the entertainment business, when an opportunity for a great photo emerges, it’s called a photo op. Well, here’s your photo op! The third great technique to seeing your home with a buyer’s eyes is to photograph it. By looking atphotographs of your home—from the street to the entranceway, backyard, driveway, garage, and to every room throughout the house—you are able to see your home right now exactly as a buyer would see it. It allows you to be one step removed from your house, which is an essential step in helping you decide what you need to upgrade, replace or spruce up to make your house worth top dollar.

By Michael Corbett  from Trulia.com

8th Annual First & Main Free Summer Concert Series in Colorado Springs! - Antlers Hilton Colorado Springs

8th Annual First & Main Free Summer Concert Series in Colorado Springs! - Antlers Hilton Colorado Springs
Great Free Entertainment!

New-Home Sales Tick up in April

Sales of newly built, single-family homes rose 3.3 percent in April to a seasonally adjusted annual rate of 343,000 units, according to newly released data from HUD and the U.S. Census Bureau.

“The increase in April sales activity is in line with other important housing measures that have shown continued, gradual improvement from the first quarter as more consumers look to take advantage of today’s low interest rates and affordable home prices,” notes National Association of Home Builders (NAHB) Chairman Barry Rutenberg, a home builder from Gainesville, Fla. “In markets where demand is rising, we could be seeing a faster pace of recovery if not for persistently tight lending conditions that are slowing both the building and buying of new homes.”

“Today’s report is representative of the kind of modest but consistent gains that we expect to see in new-home sales through the remainder of 2012,” says NAHB Chief Economist David Crowe. “As indicated by our most recent builder surveys, more consumers are taking advantage of historically low mortgage rates amidst firming economic and job market conditions in certain areas.”

On a regional basis, new-home sales rose 7.7 percent in the Northeast, 28.2 percent in the Midwest and 27.5 percent in the West in April. The South was the only region to post a decline for the month, of 10.6 percent.

Meanwhile, the inventory of new homes for sale held virtually unchanged at just 146,000 units in April, which is a historically slim 5.1-month supply at the current sales pace.

 
Published with permission from RISMedia.

How to Prune and Trim Trees- Video

Common Real Estate Deal Killers- VIDEO

Why Debt Can Be a Good Thing

When it comes to the best ways to use money, too many Americans operate under a key misconception, says investment adviser and financial planner Ike Ikokwu.

“Money is opportunity, and having a blind spot for maximizing investment can drastically reduce one’s future options,” says Ikokwu, author of “Winning the Money Game: Separating the Myths from the Truth.” That blind spot is debt, he says. Just as Americans have learned there are such things as good fats and good cholesterol, so too is there good debt for a prosperous financial future.

As Ikokwu explains, the three most common ways of becoming wealthy involve debt: “They use it to launch businesses, invest in real estate, or pay for advanced degrees in order to become high-income earners.”

Ikokwu also outlines the following myths concerning debt:

• Paying off your home mortgage provides financial security.
• A 15-year mortgage is always the quickest way to pay off your home.
• Putting money in your 401K or other qualified plan saves you taxes.
• The stock market is the only place to generate high, double-digit returns.

Admonishments to “stay out of debt” prevent people from gaining financial independence, Ikokwu says. Investing in education, a new career in another state or a new business may be more lucrative than paying down a mortgage.

“My definition of being ‘debt-free’ is to have enough money so that you can pay off your debt at any time – if you need to,’’ he says. “But you don’t necessarily want to do that. Good debt can save you money on taxes, increase your investment gains and allow you to take advantage of wealth-building opportunities. Bad debt, on the other hand, is like having a big hole in your money bucket.”


 
Published with permission from RISMedia.

May 2012 U.S. Economic and Housing Market Outlook

Freddie Mac released recently its U.S. Economic and Housing Market Outlook for May showing for the most part encouraging signs with the release of several first-quarter 2012 economic indicators.
Outlook Highlights

• Initial estimates for first-quarter 2012 economic growth was 2.2 percent, slower than the previous quarter, but better than three of the past four quarters.
• Personal consumption expenditures grew at a 15.3 percent annual rate reflecting continuing strength in consumer durables such as cars and kitchen appliances.
• Residential fixed investment like new housing construction and remodeling expenses have been a net positive contributor to growth for four straight quarters; however, it remains weak for this stage of the economic recovery compared with previous business cycles.
• Home prices at or near a trough in many markets bodes well for further declines in delinquency rates.
• Fixed-rate mortgage rates are the lowest in more than 60 years, providing extraordinary home-buyer affordability in many areas and likely translating into a sales pickup relative to last year.

According to Frank Nothaft, Freddie Mac, vice president and chief economist, "Taken together, the first-quarter data releases provide an encouraging sign for both the macroeconomy and the housing recovery. While not uniformly positive, for the most part the data trend in the right direction."
Published with permission from RISMedia.

Realtor.com: Springs market is stabilizing

Colorado Springs was the 54th most searched real estate market in the country on Realtor.com in April.

The ranking was higher than the 55th place the city had in March. The higher numbers, combined with  falling inventory figures, rising list prices and rising sales prices indicate that the real estate market in Colorado Springs is stabilizing and getting healthier, said Julie Reynolds, an analyst with Realtor.com

“Balance is always what we’re looking for,” Reynolds said.

And the fact that all of the factors used to measure market health are moving in the same positive direction is a good sign, she said.

Median list prices rose 4.56 percent from a year ago to $229,000 in April. The median list price was also 4.09 percent higher than it was in March.

“List prices have been pretty steady on the national scene,” Reynolds said. “So that’s significant growth.”

Nationally, median list prices dropped .35 percent from April 2011 to April 2012 and held at about $191,211.

The number of active for sale homes dropped 17.18 percent from this time last year to 3,824. That was on par with national averages, where inventory figures fell 18.85 percent.

The average age of inventory in the Colorado Springs market was 63 days in April, which represented a 7.35 percent reduction from March.

“Your market is moving pretty fast,” Reynolds said.

Inventory is selling about 14 percent faster than it did last year and houses spend 21 fewer days on the market before selling in Colorado Springs than in the rest of the country.

While the city’s real estate market is faring better than much of the rest of the country, Reynolds said it’s  only average for the rest of the state.

Colorado Springs’ ranking as the 54th most searched market means there is demand here, Reynolds said. Denver was the only Colorado city searched more frequently.

by Amanda Miller

Colorado Springs Business Journal

Effective Mold Identification and Treatment Tips for a Healthy Home

We all know that April showers are supposed to bring May flowers, however, a wet spring season can do more than help plants grow. In fact, heavy rain storms can actually pose a threat to homeowners in the form of mold. While it’s common for mold to be present in the great outdoors, it can pose serious risks if left untreated within the home.

Molds are basically fungi that come in thousands of species, not all of which are harmful. However, many are capable of causing physical problems ranging from slight allergic reactions and skin conditions to more serious neurological and respiratory problems. People with weak or compromised immune systems, such as very young children and the elderly, are particularly at risk for problems related to mold.

Mold occurs normally in outdoor environments, serving as nature’s recycling center and breaking down the dead organic matter from animals or plants. Humans encounter mold and even inhale mold spores every day with no ill effects whatsoever. When mold occurs in an indoor environment, however, things change. Suddenly, mold and its accompanying spores (through which it reproduces) are encountered (and inhaled) in large concentrations. When you consider the job that mold is designed to do on organic matter, it becomes easy to see how it could become a serious health hazard.

Mold occurs as the byproduct of water damage, or in any area where the moisture level is sufficient enough to sustain its growth. Even if the mold is not dangerous to anyone’s health, it still presents a problem since it destroys the surface on which it grows, meaning that a growth that is large enough could cause serious damage. Homes, businesses, and even entire city blocks have been condemned and destroyed simply due to out of control mold growth. For this reason alone, professional mold remediation services should be brought in to handle mold infestations.

Unfortunately, too many people mistakenly believe that removing the mold is sufficient. This is not true. Unless the area is properly treated, the mold will eventually return. The affected area should be thoroughly cleaned, disinfected, and humidity levels brought down to within acceptable parameters, normally between 40-45 percent. Only by changing the environment to make it inhospitable to mold can any property owner hope to avoid mold problems in the future.

Even new homes may have mold problems, so mold inspections are recommended for new home purchases. Newly constructed homes are often tightly sealed up between the time that construction is finished and the time the home is sold. Any moisture trapped inside will have no place to go, and over time may easily give way to mold and mildew growth.

Source: Restoration Local
Published with permission from RISMedia.

Rockrimmon Clay Soil Shrinking

Rockrimmon Clay Soil Shrinking
Great article from the structural guys at Peak Basement Systems

Water Your Lawn the Right Way with These Simple Tips

Watering the grass is a critical part of maintaining a healthy lawn. Watering too little can cause the grass to turn brown and thin out, creating room for weeds. Watering too much can lead to turf disease and shallow root systems, which means your grass is weaker and less able to stand up to drought, lawn-feeding pests and other problems.

TruGreen, one of the nation's largest professional lawn care services and part of the ServiceMaster family of brands, regularly monitors U.S. weather data to enable the company's trained lawn care specialists to effectively address local agronomic conditions while promoting responsible water conservation. The lawn experts at TruGreen have some tips to help you water your lawn the right way.

How to Tell When Your Lawn Needs Water
Turfgrass plants are 70 to 75 percent water, so giving them enough water is vital. Symptoms of inadequate water are easily seen:
-Grass slowly loses its bright green color and starts to fade to yellow.
-You may notice wilting, which causes grass blades to roll or fold.
-If you walk across your lawn and your footprints remain in the grass, or lawn mower tracks remain visible, your lawn needs water.
-If grass loses its green color altogether and turns yellow and then tan, that signals drought dormancy. That means grass has stopped growing. Once your lawn has turned brown and lost all color during drought dormancy, it could take several weeks of steady watering to spur regrowth.

The most accurate way to determine whether your lawn needs water is to use a knife to cut a wedge of soil (through the turf) about four inches deep and feel the soil. Ideally, it should be moist, not powder dry nor soggy and wet.

"Signs of typical wear and tear on yards this time of year are amplified when lawns are stressed," said Ben Hamza, Ph.D., director of technical operations at TruGreen. "Brown spots on lawns may not always be from lack of water or nutrients, but instead from lawn-feeding insects that can mimic drought damage on select grass types. Homeowners need to have a clear understanding of the source of the yard problem to effectively resolve."

How to Water Your Lawn
Established lawns should be watered deeply, but infrequently. Deep watering once a week encourages deeper root growth, while frequent, shallow watering produces a limited root system.

-When watering, make sure you moisten the top three to four inches of soil, which covers the root zone.
-Although watering frequency depends on the type of grass, your soil, and the weather, most grasses require about one inch of water each week for healthy growth. Let Mother Nature do as much of the watering for you as possible.
-The best time to water is in the morning and in non-windy conditions. This conserves water and allows grass to dry before evening. Grass that remains wet for long periods of time is more susceptible to disease development. Watering in the afternoon is the worst for water conservation. Up to half the water can evaporate in the air or on the ground during the hot part of the day.
-If you're using a movable sprinkler, let it run in one spot just until the water begins to run off the surface, then move to a different area of the lawn.
-Monitor your underground irrigation or sprinkler system to be sure that you moisten the lawn's entire root zone without over-watering any sections.
-To help ensure uniformity, place a one-inch deep, empty food can in the middle of lawn area to measure depth of water collected after each watering cycle.
-Make sure you are familiar with and follow any local watering restrictions.

Source: TruGreen
Published with permission from RISMedia.

Refreshing Your Laundry Room

If you’re noticing that your summer clothes are dull and grey and your whites are yellowing, part of the problem may be a dirty washing machine, according to the experts at The Maids. To keep you and your wearables looking fresh, The Maids suggest the following steps for cleaning your laundry room:

The Washer
- Clean out your washer every month or so by adding vinegar to the wash cycle. For top loaders, turn the setting to the largest load and fill the empty machine with hot water. Once filled, stop the cycle and add three to four cups of distilled white vinegar. Turn off the machine. After letting the water sit for about 30 minutes to an hour, restart the machine and finish the cycle. To eliminate odor, add one-half cup of baking soda to the vinegar-water mixture. For front-loading machines, place vinegar and baking soda into the empty machine and run through a wash cycle.
- Occasionally wipe out the inside of the machine with a damp cloth or soft brush and a tiny bit of detergent.
- To keep the machine clean and eliminate residue, use less detergent. Oftentimes, you can cut the amount in half. Add a small amount of vinegar, about one-fourth cup, to the rinse cycle to replace fabric softener. Vinegar is less expensive and is a natural whitening agent, leaving white clothes whiter and colored clothes brighter.
- If you have a removable detergent compartment, let it soak in vinegar to eliminate sticky residue. If it is not removable, warm a cup of vinegar in the microwave then pour it into the detergent compartment. Let it sit for about 10 minutes before running a wash cycle.

The Dryer
- After every use, empty the dryer's lint trap. About once a week, get rid of all the lint residue on the trap by washing it in the sink or vacuuming it. Use a long, flexible brush to clean any stray lint from the housing that holds the lint trap. Occasionally clean the inside of the dryer by wiping it down with a damp cloth and a tiny dab of dishwashing detergent.
- Use the same method – damp cloth and dishwashing liquid – to clean fronts, sides and tops of machines.

The Laundry Room
- Sweep or vacuum the floor, launder any rugs and dust or vacuum under the washer and dryer, being careful to avoid hoses and cords.
- Occasionally clean the dryer hose with a duster or long vacuum attachment. This will clear away lint stuck to the walls of the hose. Follow manufacturer's directions for detaching the hose.
- Clean the sink and deodorize the drain by pouring in one-four cup of baking soda followed by a cup of white distilled vinegar. After letting the mix sit for about 15 minutes, rinse with hot water.
Published with permission from RISMedia.

Interest Rates for Colorado Springs

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U.S. Housing Market Finally Reaches a Turning Point

Home valuations will start to climb again while adjacent consumer industries will capture significant new growth opportunities in 2012 and beyond as the U.S. housing market finally turns the corner, concludes a major new study released today by The Demand Institute. According to the study, the recovery of the housing market will have far-reaching impacts in the coming years across the United States and international markets as U.S. consumers increase their spending on buying, renovating, furnishing and maintaining their homes.

Launched in February 2012 and jointly operated by The Conference Board and Nielsen, The Demand Institute is a non-profit, non-advocacy organization with a mission to illuminate where consumer demand is headed around the world.

The new report, “The Shifting Nature of U.S. Housing Demand,” predicts that average home prices will increase by up to 1 percent in the second half of 2012. By 2014, home prices will increase by as much as 2.5 percent. From 2015 to 2017, the study projects annual increases between 3 and 4 percent. This recovery will not be uniform across the country, and the strongest markets could capture average gains of 5 percent or more in the coming years.

Between 2006 and 2011, some $7 trillion in American wealth was wiped out when home prices dropped 30 percent after dramatic climb in valuations during the housing bubble. Looking forward, the moderate growth expectations for coming years suggest a return to normalcy. As home prices continue to drop and interest rates fall further, first-time buyers and others who remained relatively cautious will be drawn back into the housing market. And, as the market recovers, so too will consumer spending.

In addition to the projected gains in home prices, the report discusses in detail the dynamics at work in the U.S. housing market and the impacts across industries. Here are further highlights from the report:

• Rental demand will help to clear the huge oversupply of existing homes for sale. In 2011, some 14 percent of all housing units were vacant, while almost 13 percent of mortgages were in foreclosure or delinquent—increases of 12 and 129 percent respectively over 2005 levels. It will take two to three years for this oversupply to be cleared, and at that point homeownership rates will rise and return to historical levels.
• The housing market recovery will not be uniform across the country. Some states will see annual price gains of 5 percent or more. Others will not recover for many years. The deciding factors will include the level of foreclosed inventory and rates of unemployment.
• The average size of the American home will shrink. Many baby boomers who delayed retirement for financial reasons during the recession will downsize. They will not be alone. The majority of Americans have seen little or no wage increase for several years, and many will scale back their housing aspirations. The size of an average new home is expected to continue to fall, reaching mid-1990s levels by 2015.
• Consumer industries including financial services, home furnishings, home remodeling will all experience shifts in demand and new growth opportunities. Part of this spending is linked to increases in wealth from improving home valuations, while an even bigger part is tied to the "transaction" of buying or selling the home which sets in motion increased demand for a wide range of products and services.
• Despite the number of Americans who have been hurt financially by the housing crash, the desire to own a home remains strong. We do not expect to see a long-term drop in ownership rates. Indeed, one survey has revealed that more than 80 percent of Americans recently thought buying a home remained the best long-term investment they could make.

Published with permission from RISMedia.

Buying a home won't get much cheaper

Several housing experts are predicting that this year will be the last chance for homebuyers to cash in on the weak housing market.

NEW YORK (CNNMoney) -- Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.

With home prices down 34% nationally since 2006 and mortgage rates at historic lows, homes have never been more affordable -- but it won't stay this way for much longer.

Stuart Hoffman, chief economist for PNC Financial Services (PNC,Fortune 500), said he expects home prices to flatten out by the third quarter and start climbing by next year.

A number of factors will help bolster the housing market, he said, including a decline in the number of foreclosures and continued job growth. In addition, homebuyers will have better access to mortgages as they get their finances in order and improve their credit scores.

Some economists, like Trulia's Jed Kolko, expect home prices to pick up even more quickly. Trulia's data shows that the national average for asking prices already increased 1.4% in the first quarter of 2012, compared with the last three months of 2011.

Mortgage payments at lowest level in decades

"This is a strong indicator that we will start seeing home price indexes, like the S&P/Case-Shiller, start to report home price increases this summer," he said.

Prospective homebuyers who've been sitting on the fence shouldn't worry if they aren't quite ready to make the leap. Analysts are predicting that the initial price gains will be modest, at least, in most markets.

Hoffman, for example, is forecasting a 2% increase in 2013 compared with 2012. Meanwhile David Stiff, chief economist for Fiserv, predicts that prices will turn in the last quarter of 2012 and will rise 4.2% for the 12 months through September 2013.

Foreclosures start to fade. One major factor that will drive the trend is the cooling of the foreclosure crisis. Stan Humphries, chief economist for Zillow, said that the percentage of mortgage loans 90 days or more late, a good predictor of future foreclosures, is "falling fast."

That percentage dropped 15% year-over-year to 3.1% through the end of 2011, according to the Mortgage Bankers Association. And the decline is accelerating: More than 70% of the decline came in the last three months of the year.

Should you buy a home in 2012?

Before things slow down, however, buyers should brace themselves for a temporary spike in the number of foreclosures as banks start expediting the processing of hundreds of thousands foreclosures that were stuck in the system following the robo-signing scandal. That backlog should move more quickly now that new guidelines for processing foreclosures have been outlined in the $26 billion foreclosure settlement.

Many of the bank-owned properties currently coming out of the foreclosure pipeline are being snapped up by investors who are fixing them up and renting them out -- often to those who were displaced by the foreclosure of their own home. That has helped to lift prices on foreclosed properties, according to Alex Villacorte, the director of analytics for Clear Capital, which specializes in housing market valuations.

Home buying much cheaper than renting

"That could have a significant impact on the market overall in terms of providing a rising floor to home values," he said.

In some markets hit hard by foreclosures, the turnaround in prices is already underway. Phoenix recorded an 8.4% jump in home prices during the three months ended April 30, compared with the three months ended January 31, according to Clear Capital.

"It's crazy," said Tanya Marchiol, founder of Team Investments, a Phoenix real estate investing firm. "Stuff I was selling six months ago for $60,000 to $80,000 is now $90,000 to $110,000."

Miami saw a 4.6% increase quarter-over-quarter through April, andTampa, Fla., was up 4.4%, according to Clear Capital.

Goodbye 3.8% mortgage. In addition to home prices, mortgages could also move higher.

Mortgage rates have been at or near historic lows for much of the past six months. The average interest rate for a 30-year, fixed-rate mortgage has not topped 4.5% since July 2011 and this week, it hit 3.84%, a new low.

But rates aren't expected to remain at these record-low levels much longer. As the economy continues to recover, rates will move higher, said Doug Lebda, CEO of LendingTree, the online lending site. Although, he said, they will "stay very reasonable."

The Mortgage Bankers Association is forecasting that the 30-year fixed will hit 4.5% by the end of the year.

Greater demand for loans will help fuel the increase, according to Lebda.

6 Ways to get a great mortgage deal

Even though mortgage rates have been cheap, borrowing for home purchases has been sluggish. The Mortgage Bankers Association estimates that homebuyers will take out mortgage loans totaling about $415 billion this year, an increase of less than 3% compared with 2011. Next year, however, it forecasts that amount will almost double to $706 billion.

As housing markets stabilize and prices stop falling, homebuyers will be even more confident about buying, said Humphries.

"People can now see the light at the end of the tunnel," he said. "And that can be enough to get them off the fence." 

By Les Christie at CNNMoney

Colorado Springs Interest Rates for New Mortgages

Courtesy of John Draper of CB&T Mortgage

Your Lawn May Look Good, but How’s Your 'Hardscaping?'

Spring sets all homeowners in motion to make sure their landscaping is up to par and ready for warm-weather entertaining. But while landscapes and lawns require ongoing maintenance, your home’s “hardscape” usually represents a one-time investment.

According to BobVilla.com, more and more homeowners are investing bigger dollars in their outdoor area’s hardscape by adding outdoor kitchens, fire pits and seating areas. Creating a more comfortable and aesthetically pleasing outdoor space enhances both your quality of living and your home’s resale value. According to a Clemson University study, homes with an excellent outdoor environment can anticipate a sale price that is about 6 - 7 percent higher than expected.

Installing decks and pavers are popular hardscaping projects that pay immediate dividends, says Vila. But before you dive into your hardscaping project, make sure you have a long-term plan that realistically fits your budget. Outdoor kitchens are difficult to move once installed. When choosing a location for your fire pit, take gas and water line locations into consideration.

If you aren’t ready to commit to a hardscape plan, says Vila, then start slowly and get that grill you’ve been wanting and that portable fire pit that you can try out in different spots around your yard.
Source: Bobvila.com

 
Published with permission from RISMedia.

Deciding what to keep when moving

Once again I find myself staring down Optimus Prime. He's sitting on his little shelf all cocky and dusty, and I know he thinks he's coming with us on one more move, but he's got another thing coming. It's time to make some hard decisions, and he's not getting on that moving truck.

I seem to have become a person who moves around a lot. Six years in New York was my longest stretch anywhere since high school. But mobility doesn't jive with my acquisitive personality—a trait shared by my husband—and every time we move I swear that next time will be different and I'll stop collecting things. Where did that Sailor Moon Thermos come from, and why did I think it was a good idea to start a Barbie collection?

But in the meantime, here are some things I try to keep in mind while moving:

• Where is this going to go in the new house? If the Autobots haven't been unpacked after three moves, get rid of them.

• Am I keeping this just because I can? Just because something's tiny and can be squashed into the corner of a box doesn't mean it should be. Psyduck the 2" Pokemon has made it through six or seven moves at this point, just by virtue of being small enough to squash in with the spoons.

• How replaceable is it? It's possible to make mistakes when moving and cull something you should have kept (more on that later). If that happens, how easy will a thing be to replace? If you haven't looked at something in three years, it's generally safe to get rid of. Sure, I've had to re-buy Arthur Waley's Monkey five or six times now, but that's easy and inexpensive to do, so culling it was the right choice. Give irreplaceable objects more consideration. I haven't looked at my wedding album, like, ever. But it still gets a spot on the truck.

• Is it really worth a ton of money? Take it from me: After 20 years occupying one square foot of my closet space, those Beanie Babies definitely did not earn their keep.

• Is it either practical or fabulous? I have an affinity for vintage clothes, so I'm very skeptical of the old "if you haven't worn it in a year, throw it out" chestnut. If my mother followed that logic, I'd be bereft of a closet full of fabulous disco dresses. By my rules you're allowed to keep something if you wear it all the time, or if it's just that awesome. (I'm told Sarah Jessica Parker has an off-site storage closet for excess clothes. Memo to self: Look into that.)

• Am I decluttering, or going crazy? Getting rid of unnecessary objects is great, but it's possible to go too far. During my last move—a particularly frenzied one from New York to Beijing—I got carried away and threw out all my makeup. Don't do that. Give yourself enough time to take breaks when you need them, or you might wind up having to spend a ton of money at Duty Free.

What are your tips for determining what stays and goes during a move? Let us know in the comments. 

Article from apartmenttherapy.com

79 Percent of Refinancing Homeowners Maintain or Reduce Mortgage Debt

The recently released results of Freddie Mac’s first quarter refinance analysis show that refinancing continues to be a favorable option for homeowners seeking to strengthen their fiscal house.

According to the report, in the first quarter of 2012, 79 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table. Of these borrowers, 58 percent maintained about the same loan amount, and 21 percent of refinancing homeowners reduced their principal balance; the share of borrowers that kept about the same loan amount was the highest in the 26-year history of the analysis.

"Cash-out" borrowers, those that increased their loan balance by at least 5 percent, represented 21 percent of all refinance loans; the weighted average cash-out share during the 1985 to 2008 period was 50 percent.

The median interest rate reduction for a 30-year fixed-rate mortgage was about 1.5 percentage points, or a savings of about 27 percent in interest rate, the largest percent reduction recorded in the 27 years of analysis. Over the first year of the refinance loan life, the median borrower will save about $2,900 in interest payments on a $200,000 loan.

The net dollars of home equity converted to cash as part of a refinance, adjusted for inflation, was at the lowest level in nearly 17 years (since the third quarter of 1995). In the first quarter, an estimated $5.3 billion in net home equity was cashed out during the refinance of conventional prime-credit home mortgages, down from $7.0 billion in the fourth quarter and substantially less than during the peak cash-out refinance volume of $83.7 billion during the second quarter of 2006.

Among the refinanced loans in Freddie Mac's analysis, the median prior loan life was 4.3 years. One-half of the loans that were paid-off had been in place from between three and seven years, that is, had been originated between 2005 and 2009.



Published with permission from RISMedia.

Colorado #6 Happiest State!

6. Colorado
> Well-being index score: 68.4
> Life expectancy: 79.9 (10th highest)
> Obesity: 21.0% (the lowest)
> Median household income: $54,046 (15th highest)
> Adult population with high school diploma or higher: 89.7% (15th highest)

Although Colorado ranks relatively well in all well-being categories, it stands out for physical health and healthy behavior. These rankings, which are based on the perceptions of state residents, largely reflect the reality illustrated by more objective metrics. Colorado has one of the longest life expectancies in the country. It has the lowest rate of obesity, at just 21%, and the lowest rates of both diabetes and heart disease. It also has the fourth-lowest rate of cancer in the nation.

Read more: America’s Happiest States - 24/7 Wall St. http://247wallst.com/2012/03/02/americas-happiest-states/#ixzz1u8wCFMFu

Mortgage Rates Reach Another Record Low

Mortgage rates fell for a fourth consecutive week and the fifth time in the past six weeks, with the average rate on the benchmark 30-year fixed mortgage rate dropping to 4.05 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.45 discount and origination points.

The average 15-year fixed mortgage rate retreated to 3.25 percent – also a record low – while the jumbo 30-year fixed mortgage nosed higher to 4.62 percent. Adjustable mortgage rates were mixed, with the average 3-year adjustable inching higher to 3.07 percent, while the 5-year ARM tied a record low of 3.02 percent initially set in February.

News of disappointing economic growth in the first quarter and continuing elevated unemployment claim filings propelled mortgage rates lower. The looming jobs report is likely to be the catalyst for further rate movement but the tepid theme of recent economic data is sure to keep a lid on bond yields and mortgage rates in the coming weeks. Mortgage rates are closely related to yields on long-term government debt.

The last time mortgage rates were above 6 percent was November 2008. At the time, the average 30-year fixed rate was 6.33 percent, meaning a $200,000 loan would have carried a monthly payment of $1,241.86. With the average rate now 4.05 percent, the monthly payment for the same size loan would be $960.60, a difference of $281 per month for anyone refinancing now.

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.


 
Published with permission from RISMedia.

Responsible Borrowing

At some point, most everyone will need to borrow money, whether it's for school, a car, a home, a business, or to meet daily expenses during a personal financial downturn. Of course, how that money is borrowed and how it is paid back can make a big difference in the total cost and a person's overall financial standing.

The experts at BMO Financial Group offer the following suggestions to ensure responsible borrowing:
• Know your credit score. This number is vital, and will often determine whether you can borrow money, how large a loan you can secure, and what interest rate you'll pay. Creditors will look at this score to gauge your ability to pay back a loan. It's made available via three main agencies: TransUnion, Equifax and Experian. Credit reports from these agencies should be checked regularly to ensure accuracy.
• Manage your credit score. There are many factors that play into a credit score, including your credit history, outstanding debts and your total number of credit accounts and loans. Paying off debt, making payments on time, and not opening new credit accounts will all help bring your credit score up.
• Understand your responsibility before co-signing anyone else's credit or loan. If a friend or family member makes that request, be sure you know what you're signing and have the ability to make payments in the event the primary signator is not able to.
• Prioritize your debt, whether you're paying it off or taking out a loan. If you're faced with multiple sources of debt, make a list and determine which should be paid off first. If possible, make more than the minimum monthly payments to keep interest costs down. When taking on more debt, avoid new credit cards where possible and focus debt where it can help you over the long run—in a home or a college education.
• Set your kids up for success by educating them on borrowing. Give them small loans and charge interest as they're paid back. Explain how credit cards work, and how much interest is paid when the bill comes. As kids get older and closer to college, talk to them about student debt and their prospects for paying those loans back after graduation.


Published with permission from RISMedia.

$750k-$800k in Colorado Springs on Wood Ave! - 4

1811 Wood Avenue 

6 Bedroom, 4 Bathroom, 2 Car Garage, 5200 sqft, Historic Area, $779,000

For more info and photos, click here: RES - Customer Full Report

5 DIY Projects to Increase Sales Value by More Than $10,000

5 DIY Projects to Increase Sales Value by More Than $10,000
Seems like common sense, but sometimes people forget

Simple Tips for Better Home Showings

1. Remove clutter and clear off counters. Throw out stacks of newspapers and magazines and stow away most of your small decorative items. Put excess furniture in storage, and remove out-of-season clothing items that are cramping closet space. Don’t forget to clean out the garage, too.

2. Wash your windows and screens. This will help get more light into the interior of the home.

3. Keep everything extra clean. A clean house will make a strong first impression and send a message to buyers that the home has been well-cared for. Wash fingerprints from light switch plates, mop and wax floors, and clean the stove and refrigerator. Polish your doorknobs and address numbers. It’s worth hiring a cleaning service if you can afford it.

4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows to air out the house. Potpourri or scented candles will help.

5. Brighten your rooms. Put higher wattage bulbs in light fixtures to brighten up rooms and basements. Replace any burned-out bulbs in closets. Clean the walls, or better yet, brush on a fresh coat of neutral color paint.

6. Don’t disregard minor repairs. Small problems such as sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they’ll give buyers the impression that the house isn’t well-maintained.

7. Tidy your yard. Cut the grass, rake the leaves, add new mulch, trim the bushes, edge the walkways, and clean the gutters. For added curb appeal, place a pot of bright flowers near the entryway.

8. Patch holes. Repair any holes in your driveway and reapply sealant, if applicable.

9. Add a touch of color in the living room.  A colored afghan or throw on the couch will jazz up a dull room. Buy new accent pillows for the sofa.

10. Buy a flowering plant and put it near a window you pass by frequently.

11. Make centerpieces for your tables. Use brightly colored fruit or flowers.

12. Set the scene. Set the table with fancy dishes and candles, and create other vignettes throughout the home to help buyers picture living there. For example, in the basement you might display a chess game in progress.

13. Replace heavy curtains with sheer ones that let in more light. Show off the view if you have one.

14. Accentuate the fireplace. Lay fresh logs in the fireplace or put a basket of flowers there if it’s not in use.

15. Make the bathrooms feel luxurious. Put away those old towels and toothbrushes. When buyers enter your bathroom, they should feel pampered. Add a new shower curtain, new towels, and fancy guest soaps. Make sure your personal toiletry items are out of sight.

16. Send your pets to a neighbor or take them outside. If that’s not possible, crate them or confine them to one room (ideally in the basement), and let the real estate practitioner know where they’ll be to eliminate surprises.

17. Lock up valuables, jewelry, and money. While a real estate salesperson will be on site during the showing or open house, it’s impossible to watch everyone all the time.

18. Leave the home. It’s usually best if the sellers are not at home. It’s awkward for prospective buyers to look in your closets and express their opinions of your home with you there. 

Reprinted from Realtor.org