August 2008
According To The Data, Housing May Have Already Touched Its Bottom
August 27, 2008 by MikeRosen · 1 Comment
According to the June 2008 Case-Shiller Home Price Index, home prices in 15 of the 20 largest U.S. real estate markets either improved, or showed growth from the month prior.
This is the fourth straight month in which that happened which means that a national housing recovery may already be underway.
Now, it’s worth stating that all [...]
Converting Your Primary Residence To An Investment Property? You May Not Qualify For Your Next Mortgage.
August 26, 2008 by MikeRosen · Leave a Comment
When a homeowner buys a new home, he has 3 options of what to do with his current residence:
Sell the home, paying off the mortgage in full
Keep the home as a second/vacation home
Convert the home to an investment property
The most common action plan is the first one — sell the home and pay off the mortgage. However, [...]
Compact Fluorescent Light Bulbs Require Special Handling And Disposal
August 25, 2008 by MikeRosen · Leave a Comment
As compact fluorescent bulbs gain favor across the country, it’s important to remember that they contain mercury and mercury is harmful to humans.
Because even though CFLs contain small amounts of mercury — less than 4 milligrams per bulb — it’s still enough mercury to cause brain damage.
If you’re interested, this 4-minute video from the University [...]
Mortgage Insurance Rates Skyrocket (For Homeowners That Still Qualify)
August 21, 2008 by MikeRosen · Leave a Comment
Private Mortgage Insurance (PMI) is an insurance policy paid to a lender in the event that a homeowner defaults on his home loan.
With the growing number of mortgage defaults nationwide, mortgage insurers are finding their balance sheets under attack and their revenues in the red.
So far this year, mortgage insurers have paid out $6 billion [...]
Good News For Homeowners : Housing Starts Tumble In July
August 19, 2008 by MikeRosen · Leave a Comment
Housing Starts measure the number of new housing “units” on which construction has started and in July, Housing Starts fell to its lowest levels since March 1991.
For homeowners, this is a welcome bit of good news because as fewer homes are built, there is less inventory from which home buyers can choose.
With fewer homes for sale, the [...]
Does Your Toilet Leak The Equivalent Of An 80-Minute Shower Each Day?
August 11, 2008 by MikeRosen · Leave a Comment
Any plumber will tell you — toilets are among the least efficient appliances in a person’s home. 20 percent of them leak up to 200 gallons of water per day – the equivalent of an 80-minute shower.
At an average cost of $2 per 1,000 gallons, the EPA estimates that homeowners literally flush $146 of water down [...]
Fairfax Real Estate Market Statistics
August 11, 2008 by MikeRosen · Leave a Comment
Average Sales Price, Average Days on Market and Total Active Listings
Click below for more detailed charts …
Loudoun Real Estate Market Statistics
August 11, 2008 by MikeRosen · Leave a Comment
Average Sales Price, Average Days on Market and Total Active Listings
Click below for more detailed charts …
Arlington Real Estate Market Statistics
August 11, 2008 by MikeRosen · Leave a Comment
Average Sales Price, Average Days on Market and Total Active Listings
Click below for more detailed charts …
Changing Mortgage Guidelines Impact Buyers Of Second Homes And Investment Properties
August 1, 2008 by MikeRosen · Leave a Comment
Conforming mortgage guidelines are the Home Loan Rule Book, delineating between applicants that approved for a mortgage and those that do not.
Effective today, the rule book just got a little bit tougher.
According to Fannie Mae, homeowners converting their primary residence into a second home or investment property will be subject to additional underwriting scrutiny. Fannie [...]
