Mortgage Rates Rose Following Bond Yields

September 1, 2010
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Freddie Mac made public the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.99 percent with an average 0.6 point for the week ending March 25, 2010, somewhat rose from last week when it averaged 4.96 percent.

The 15-year FRM this week averaged 4.34 percent with an average 0.6 point, somewhat rose from last week when it averaged 4.33 percent. A year ago at this time, the 15-year FRM averaged 4.58 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.14 percent this week, with an average 0.6 point, higher from last week when it averaged 4.09 percent.

The 1-year Treasury-indexed ARM averaged 4.20…

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Filed Under: Mortgages, Real Estate

Mortgage Fraud Committed by a Home Builder

August 10, 2010
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Jacksonville, Florida – Marshall Craig Scott was found guilty of committing mail fraud, wire fraud, and conspiracy to commit mail fraud. Scott faces a maximum penalty of 145 years in federal prison. The sentencing hearing is scheduled for June 24, 2010. Scott was indicted on October 29, 2009.

Scott was one of four conspirators who schemed to defraud a variety of lending institutions in connection with residential home mortgages. Scott was one of three owners of American Home Builders, Inc. (AHB), who participated in a scheme to trick lending institutions into lending money to fund the purchases of new homes built by AHB.

Evidence established that the “extra money” extended by the…

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Filed Under: Economy Crisis, Lenders, Mortgages, Real Estate Fraud

Features to Qualify as Green Home

August 10, 2010
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Nowadays, the word “green” becomes a catchphrase when it comes to modern and contemporary home building and concepts. There are different standards and qualifications that will make up an eco-friendly and green home that is the universal of what the word “green” is about.

Green homes are greatly preferred by modern day home owners not only because of its environmental-friendly ideas and structure but it is also a great way of qualifying for incentives and other compensations since almost all states are giving credits for homes and infrastructures.

Energy efficiency is the basic standard that must be manifested in the entire structure, foundation and concept of the house. This is shown in…

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Filed Under: Green Building, Real Estate

The Growing Multi-Generation Housing

August 10, 2010
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Unlike in some cultures, in America an attitude of independence has reigned and living in multi-generational households has just not been as popular.

Nowadays, times are changing and multi-generational households are a rapidly increasing trend which is changing what buyers are looking for in a house. “There are a lot of people doubling up,” says Barry Goggin, owner of Ronkonkoma.

According to a poll by Coldwell Banker, 37 percent of its 2,360 agents polled noted increases in buyers who want to purchase homes that can accommodate multi-generational families. “There are times when there are young families moving back into a home because they can’t afford their own home and the owners of…

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Filed Under: Real Estate

Benefits of Renting over Buying in London

August 3, 2010
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London is a melting pot of cultures and lifestyles making it one of the most diverse places in the UK. Home to many of the world’s leading companies and an endless array of things to do and places to visit, it is little wonder that it appeals to so many as the ideal place to live.

For those looking to move to London the most popular option is to rent a place to live instead of buying. Because of the high property prices it can be easier to find flats to rent in London over houses for sale in London. Due to the nature of the property market in London with a…

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Filed Under: Real Estate, Real Estate Investment, Rentals

Josh Groban’s Malibu Haven Up for Grabs for $6.1 Million

July 28, 2010
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The American singer-songwriter and actor, Josh Groban has listed his Malibu haven for $6.1 million.

Josh Groban’s Malibu home measures 3,294 square foot. The home is a four-bedroom Tuscan villa-style home. His home is located at Point Dume area of Malibu where it has private beach rights. Enter a double-gated entry and a long drive back to the 1.8-acre estate that includes a separate guest house, recording studio, a salt water pool with a waterfall, lighted tennis court, a poolside cooking area and many private patios. The main house features stone floors with inlaid tiles.

The family room has high beamed ceilings and opens into billiard room with bar and wine cellar.…

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Filed Under: Celebrity Real Estate, Real Estate

Remove Clutter from the Most Important Part of the House – The Kitchen

July 28, 2010
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In home staging you must know which part of the house you must pay attention first. The kitchen is a good place to start removing clutter.

You must first get everything off the counters. Even the toaster must be removed. Find a place where you can store everything in the cabinets and drawers. Clean them out. Put everything in a box and put the box inside the storage room.

Home buyers usually open all the cabinets and drawers, most especially in the kitchen. They want to be sure there is enough room for their stuff. If your kitchen cabinets, pantries and drawers look jammed full, it sends a negative message to the…

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Filed Under: Home Improvement, Real Estate

Big Plan to Cut Mortgage Debt Reveal by Bank of America

July 28, 2010
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Bank of America stated that it would trim down mortgage-loan balances in so far as 30% for thousands of troubled borrowers, in what could foretell a wider government effort to encourage banks to offer debt reduction to ease the mortgage crisis.

The plan is one of the boldest moves so far to address the dilemma of millions of U.S. homeowners who owe more on their homes than they are worth. It would make it easier for the Obama administration to move in a similar direction with its present loan-modification program, though senior government officials and many bankers remain very cautious of offering to cut loan balances as the main way of…

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Filed Under: Lenders, Mortgages, Real Estate

The Modular Construction

July 25, 2010
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Modular construction has been around almost since the advent of the covered wagon. The use of modular construction enhanced today’s building practices.

Japanese builders construct homes like kids using building blocks. At first, a new homeowner may only be able to afford a small home with a single bath. As time passes, the homeowner can easily add on to their existing modular structure with new add-on modular units making the home a little more spacious and or bigger.

In the early 60’s, a builder from my home town built modular rooms for hotels and motels. For that era, this builder was considered a visionary. Today, this is a much more common practice.…

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Filed Under: Green Building, Home Improvement, Real Estate
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