Are you considering a mortgage refinance? Ask yourself these five questions first. By Diana Bocco | Yahoo! Homes – Tue, Dec 11, 2012 1:54 PM EST Here's the thing: Refinancing a mortgage could save you a lot of money. But, it's no walk in the park, and it definitely is not for everybody. In fact, there are multiple factors to consider before determining if refinancing is right for you. "People should always look at the big picture when they are refinancing," says Keaton Hutto, branch manager for Hometown Lenders in Lubbock, TX. Hutto says more often than not people are concerned with how much refinancing is going to save them monthly, and that's a mistake. Instead, says Hutto, people considering a refinance should ask themselves two questions: "How much is this going to save me yearly?" ... 12/20/2012

By JASON GOLD December 4, 2012 US News With the clock ticking, the nation is engrossed in Washington's horse wrangling over the fiscal cliff, a nasty double whammy of spending cuts and tax hikes that experts predict could usher in another crippling recession. But while Democrats defend entitlements and Republicans defend against tax increases, no bigger constituency seems to be more in the cross-hairs than homeowners. The popular mortgage-interest deduction (MID), long thought to have hands-off status, is now on the table as lawmakers try to steer the country away from plunging headlong over the fiscal cliff. To what degree eliminating or reducing the MID, which costs the government an estimated $98 billion annually, impacts the housing market is debatable. While a potential change in ... 12/19/2012

By:Diana Olick , CNBC.com: Article Home prices have been rising steadily for the past several months, but some fear the rapid increase could actually start hurting the housing recovery. The reason is that the rise in prices is mainly due to investors, mostly large hedge funds, that have been swooping into the most distressed markets and inhaling properties as fast as their plentiful cash will allow. They are turning those properties into rentals, and getting anywhere from 8 to 12 percent returns on their investments, thanks to still hot demand. The trouble is, as home prices rise, those returns shrink. “The worry with investment demand is that the very recovery in prices that it is driving will eventually reduce rental yields and undermine the investment case,” warns Paul Diggle of Capi... 12/17/2012

By David Francis | U.S.News & World Report LP – Mon, Dec 10, 2012 11:29 AM EST As the housing market continues to show improved signs of strength, many first-time home buyers are failing to benefit from the broader recovery. The Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, released last week, found that first-time home buyers were purchasing only 34.7 percent of the homes sold in October. That's down from 37.1 percent in September, and is the lowest percentage ever recorded by the survey. This decline surfaces as purchases of non-distressed homes--houses that are not in foreclosure--have increased dramatically in 2012. The report shows that the vast majority of the homes being sold are regular purchases--accounting for 64.7 percent of all houses sold in October, up fro... 12/13/2012

“Our greatest glory is not in never falling, but in rising every time we fall.”–Confucius What are rising now are asking prices for homes. A major Web real estate portal reports prices for homes listed there were up 3.8% in November versus a year ago. This is the largest year-over-year gain since the housing downturn began. In addition, the listing prices for the three months ending in November were up 0.8% from the prior three months. And the good news was widespread: annual gains were reported in 76 of the 100 largest metros.Finally, asking price gains are now beating rent price gains in the 25 largest rental markets. The Wall Street Journal reports five factors influencing rising home prices: housing affordability, with price-to-rent and price-to-income ratios favoring home ownership... 12/12/2012

Is now a good time to buy? What trends are affecting the value of my home? What new economic policies will be shaping my real estate decisions in the coming months? Each month, This Month in Real Estate provides expert opinion and analysis on real estate trends across the United States and Canada. Watch the videos and read reports below for the latest market news. December Video 12/11/2012

We who toil in the housing market must surely be very strong by now, having overcome some powerful forces, not the least of which has been the downward pressure on home prices. The latest evidence that pressure is letting up came with the Case-Shiller home price index, UP 0.4% for September and UP 3% versus a year ago. Nineteen of 20 metros reported higher prices not just for the month, but for the past three months! The FHFA index of prices for homes financed by conforming mortgages was UP 0.2% for September and UP 4.4% over a year ago. New Home Sales were down 0.3% for October but are still in an up trend, 17.2% ahead of sales a year ago. The median price of $237,500 is UP 5.7% versus a year ago. The months’ supply is 4.8, near its lowest levels since 2005. The median number of months... 12/07/2012

“The great thing in the world is not so much where we stand, as in what direction we are moving.”–Oliver Wendell Holmes, Sr., American physician, poet, professor, and author We may not be standing in the middle of a fully recovered housing market, but we’re clearly moving in that direction. Existing Home Sales were UP 2.1% in October, staying right near their highest level in over two years. Sales are up 10.9% from a year ago. The median price is now $178,600, up 11.1% over a year ago. And the supply of existing homes dropped from 5.6 to 5.4 months. The inventory of existing homes is down to 2.14 million, the lowest level since December 2002. Anyone who still thinks the housing market isn’t in recovery had only to look atOctober Housing Starts, which grew 3.6% to an annual rate of 894,0... 12/06/2012

With mortgage rates hitting rock bottom, NOW is the perfect time to make the most of your money.  Low interest rates mean lower payments and quicker equity build up, building YOUR wealth rather than your bank’s. Check out this quick video to discover how today’s rates stack up. 12/04/2012

By FrontDoor.com | Published: 3/27/2008 If you’re one of the 40 million Americans who move every year, here are some solutions to make your next move more eco-friendly. Plan ahead Have you ever waited until the last minute to pack for a trip, only to take half of your wardrobe along for the ride? Well, packing up to move at the last minute is like that, but to the extreme. You’ll discover things you haven’t seen since your last moving day, so don’t wait until the van is on the way to address your excess stuff. If you start packing a few weeks in advance, you’ll have time to get rid of things you really don’t need. Be realistic: If you haven’t worn a pair of jeans since the summer after college graduation, it’s probably time to part with them. Have a yard sale or donate extra belongings ... 12/03/2012

Most sellers today are nervous and unsure. They wonder: is taking a loss on our house inevitable? The answer is no! A strategic sales plan, coupled with a smart buy in your new location will ensure that you recoup the maximum value for your home. Consult with an expert, local real estate agent, Orson Klender, to ensure your house is priced competitively and well-staged. Why? Because while there are always three factors to getting a home sold—location, price, and condition—only two are under your control: price and condition. Of the two, which is more significant? Price. Remember that price will correct bad condition, but condition will never overcome a bad price. Act fast. You’re in a race against time—the best price you’ll get in today’s market is the one you get now. If you wait, it w... 11/29/2012

Underwriting standards, minimum down payments remain intact By Ken Harney of Inman News http://www.inman.com/buyers-sellers/columnists/ken-harney A bailout for FHA? Don’t bet on it. And what’s the practical significance of the steps the agency announced last week to avoid a meltdown? What impact will they have for homebuyers and sellers who rely on FHA for affordable financing? Less than you might think if you read some of the dire reports on Friday’s news: FHA’s capital reserve ratio to support its single-family and reverse mortgage programs plummeted to -1.44 percent, according to an independent audit, representing a negative economic value of more than $16 billion. You may have also read that in response, the FHA plans to raise its annual mortgage insurance premiums from 1.25 percent... 11/26/2012

“Opportunities multiply as they are seized.”–Sun Tzu, ancient Chinese military general, thought to be the author of The Art of War  Investors are seizing the opportunity to invest in Home Depot, the home improvement retailer who’s seizing the opportunities presented by this still young housing recovery. Home Depot just posted adjusted Q3 earnings of 74 cents a share, up 23% from a year ago, evidence there’s a growing number of homeowners sinking money into their properties. Other facts back this up. The U.S. homeowner vacancy rate fell to 1.9% in Q3, a seven-year low. Many feel this signals that the economy has worked off most of the excess housing that had been built.  This better balance in the housing market is boosting home prices and builder confidence. Housing starts are up, as we... 11/20/2012

Turn on any popular home network on cable TV and you’ll find a program on staging. Re-arrange your furniture, pick a soothing color palette, clear out the family photos, and your home will sell faster, and for more money. Sound too frou-frou to be true? It’s not! The soft and decorative side of staging is backed by hard facts. Real estate agents like great-looking homes because they are easier to sell.                    Why is that important? *An agent’s job is to please their clients, and they will direct their buyers to the homes they think they will buy. *Agents talk to other agents who are also directing their buyers to the best homes on the market. An attractive listing will be shown more often, meaning more market exposure—critical for a quick and profitable house sale. *Staging ... 11/19/2012

This month in real estate from Keller Williams Realty, November 2012: What Factors Drive First Time Home Buyers?  Orson can help point you in the right direction when it comes to choosing the right location, helping with what local bank to choose and even inform you on what types of mortgages are out there. Check out this short video about this month's Real Estate Market News. Selling your home?  Contact Orson and he can help make your home more appealing to first time home buyers.   11/16/2012

One idea that could lead to some success is to let people know that home prices and home sales both posted strong annual growth in the third quarter, according to the National Association of Realtors (NAR). The national median existing single-family home price was UP 7.6% versus a year ago, the best year-over-year quarterly price boost since Q1 of 2006 when prices were up 9.4%. And existing home sales were UP 10.3% over Q3 last year, to a 4.68 million annual rate. The NAR's chief economist said rising prices and tight inventory indicate the housing recovery is settling in. He added, "We expect fairly normal appreciation patterns in 2013, but there is a risk of price acceleration if builders are unable to meet the needs of our growing population and household formation." The Mortgage Ban... 11/14/2012

Many observers feel we should be totally prepared for the housing recovery to continue. A major real estate portal reports list prices UP 2.5% in September versus a year ago, the biggest year-over-year boost since the housing recession started. Excluding foreclosures, list prices were UP 3.5% from a year ago. From July to August, those prices were UP 0.5%, their eighth straight month of gains. These numbers are causing experts to predict that 2012 will likely record the first calendar year list price increase since 2006, as gains were seen in 74 of the top 100 U.S. metros.  10/09/2012

Of all the streets, in all the world - they picked ours! Saratoga's Broadway was listed by the American Planning Association as one of 2012's America's Top 10 Great Streets.  They described Broadway as "lined with the city's finest examples of Gilded Age opulence, meticulously restored buildings from the 19th century that display High Victorian, Beaux-Arts, and Richardson Romanesque architectural style."  For those of us who live in the area, Broadway in Saratoga is arts and crafts, cafes, boutiques and antique shops.  It's crowded sidewalks, street music, and wide open doors with tantalizing scents and smells. It's a fantastic mix of classic and brand new - whether we're talking architecture, music or food. We've known for decades that Broadway was one of America's Top 10 Great Streets... 10/07/2012

It's great to end the week with a closing. And even better when it is a closing for a first time home buyer (the excitement is never lost on me!).  I enjoyed seeing their excitement at our final walk through. Even their dog Franklin was giddy with anticipation of a new place.  This was a wonderful couple to work with & I wish them every happiness as they make their new house a home. 06/15/2012

HAPPY ST. PATRICK'S DAY!!!!  It is!! At least in Saratoga Springs, NY at the Saratoga Race Track.  Today is Mid-Summer St. Patrick's Day at the Saratoga Race Track.   Come enjoy traditional Irish food and drink - and some great music by the Orange County AOH Pipe and Drums and the Boland School of Dance. Judges will also be roaming the backyards in Saratoga Springs to find the best Irish-themed Picnics for the BackYard Decorating Contest.   Come join in the fun at the Saratoga Race Track, today! Happy St. Patrick's Day!!               08/03/2011