New Affordable Housing Program
The Vermont Housing Finance Agency (VHFA) is beginning a new $10 million program making owning a home in Vermont a reality for many buyers.
The program will offer 4.75 percent interest rates to eligible applicants. Contact me for eligibility requirements. Also, visit my website to view all real estate listings. I’d like to help make your dream of home ownership come true.
Tags: Vermont Housing Finance Agency, buyers, listings, homes for sale, Irene Gaffigan
Modernizing FHA Loans
The Expanding American Homeownership Act has been passed by the House Of Representatives bringing FHA into the 21st Century and offering hard-working Americans a variety of safe homeownership options at a fair price. This legislation will:
1) Eliminate the current statutory three percent minimum down payment, reducing a significant barrier to homeownership. FHA’s existing down payment requirement does not meet the demands of today’s marketplace, where most first-time homebuyers put down two percent or less. The “new” FHA would offer a variety of down payment options.
2) Create a new, risk-based insurance premium structure for FHA that would match the premium amount with the credit profile of the borrower. It would replace the current structure, in which there is standard premium amount for all borrowers, while still protecting the soundness of its Insurance Fund. FHA would have the flexibility to charge a lower premium for low-risk borrowers, and to charge higher-risk borrowers a slightly higher premium.
3) Increase and simplify FHA’s loan limits. FHA’s loan limit in high-cost areas would rise from 87 to 100 percent of the GSE conforming loan limit and in lower-cost areas from 48 to 65 percent of the conforming loan limit. This change is crucial in today’s housing market. In many areas of the country, the existing FHA limits are lower than the cost of new construction, eliminating FHA financing as an option for buyers of new homes in those markets. FHA has simply been priced out of the market in other areas, such as California, where FHA insured only about 5,000 home mortgages in all of 2005, down 95 percent from 109,000 in 2000.
HUD is the nation’s housing agency committed to increasing homeownership, particularly among minorities; creating affordable housing opportunities for low-income Americans. More information about HUD and its programs is available on the Internet at www.hud.gov.
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If you are thinking of buying or selling Vermont real estate or have questions about FHA loans, visit my website or send me an email. I can help!
Tags: vermont, real estate, FHA, HUD, financing, loan, home, buyer, legislation, insurance
Back To School Warm-Up
Parents helping a child prepare for that first post-summer-vacation reading quiz often find themselves wondering if he has forgotten everything he learned the year before. Research shows that the “summer brain-drain” phenomenon is no figment of the imagination. Over summer vacation, children can forget more than two months worth of school instruction.
“Research by experts verifies what parents and teachers have long known – over the three short months of summer vacation, most children forget a significant amount of what they learned during the previous school year,” says Ron Fairchild, executive director of the Johns Hopkins University Center for Summer Learning. In fact, Johns Hopkins research shows that teachers typically spend four to six weeks reteaching last year’s lessons. “Parents can help children stay in shape academically by making learning a year-round habit,” says Fairchild.
So how can parents help children keep their brains in top condition for back-to-school excellence?
“First, make it fun,” advises Wendy Bronfin, vice president of education and product development at Educate Products, makers of Hooked on Phonics, the brand that over 2 million families have turned to for teaching their children reading, math and study skills. “There are a lot of great ways to integrate learning into your everyday activities, even while on vacation. Summer is a great time to spend with your child and foster a lifelong love of reading.”
Bronfin suggests coaching your child through the following year-round fun brain exercises:
* Keep kids reading. Before school starts, help your child choose a short list of books to read. While you can suggest a book, author, series or subject you think your child might enjoy, let the child choose what he wants to read. Reinforce the idea that reading is fun.
* A library visit is a great way to occupy a rainy summer afternoon. Suggest that your child invite a friend. Make sure everyone in your library party checks out something new and begins reading it that day. Make trips to the public library a regular family outing!
* Help your child prepare for the inevitable “What I Did on Summer Vacation” report he’ll have to give when he returns to school. Before taking a family vacation, read with your child about the destination.
* Help your child look up online the lyrics to fun summer-themed songs. Kids find computers fun and the technology can be a great way to boost their interest in reading.
* With summer comes a host of children’s movies. Before you take your child to the latest hit, sit down with him and read the book version first. Then see the movie and discuss which version he liked best and why.
* Make reading aloud a family experience. At the end of a long summer day, take turns reading from a classic book the whole family can enjoy. Set aside a regular family read-aloud time, usually 20 to 30 minutes, or as long as it takes to read a certain number of pages or chapters. This can become a favorite family tradition.
* Demonstrate that reading is part of everyday life by encouraging your child to read things found on summer vacation, like a newspaper from a new town, travel magazines, barbecue recipes, maps and game instructions.
* Play games that encourage reading and learning, like the classic I Spy game or a letter-sound treasure hunt, during which you hide around the yard treats or toys that all begin with the same letter.
* Try an activity kit. The Hooked on Phonics Super Activity Kits are filled with hours of brain-building, fun activities. The kits use a DVD loaded with MP3 songs, music videos, cartoons and adventures with Lou the Hippo to help keep kids educationally active during the summer. Each kit includes an activity pad, write-on/wipe-off journal and special erasable crayons and stickers, all in a convenient resealable package. Hooked on Math products are also especially relevant since research shows summer learning loss is more pronounced with math.
Hooked on Phonics products can be found at participating retailers or online at http://www.hookedonphonics.com/ or http://www.amazon.com/.
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If you are thinking of buying or selling a home in southern Vermont prior to school starting this fall, you have just enough time. Visit my website to view all real estate listings, get a FREE home valuation, free reports and more.
Tags: vermont, buy, sell, home, real estate, reading, summer, kids, school, reading, hooked on phonics
Go Star Power Annual Conference
Star Power Systems is hosting their annual conference in 2006 in New York City July 19-22. Top Agents from all over the world will be in attendance to hear today’s latest and greatest techniques for selling real estate.
Brett Ellis will be a featured speaker in the Thurday AM Yechnology session entitled “Road Warrior Technology.” To sign up, simply visit Go Star Power Annual Conference website here.
Music In The Meadow
An annual Music Festival and Fundraiser. Bring a blanket, a picnic basket and a frisbee! A great way to spend the day! Live music from talented musicians, food vendors, crafts, a pretty country setting and friendly people. All proceeds benefit the Race For The Cure.
Sponsored by: Motel-in-the-Meadow, Chester Music Shoppe & Flying Under the Radar.
When? July 15, 2006
Where? Motel-In-The-Meadow, Chester, Vermont
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Thinking about buying or selling a Vermont home? Visit my website for all real estate listings, get the value of your home and more!
First Time Buyers are Picky, Picky, Picky!
Wells Fargo Home Mortgage has just revealed a study of first-time home buyers and just what they are willing or not willing to compromise on when buying a home.
Both buyers and sellers may want to take note of the findings:
40% are unwilling to buy a home smaller than the’d like.
40% are unwilling to buy a home needing significant improvements.
46% will not buy further from work than they would like.
70% will not move to a less desirable neighborhood.
97% of first-time home buyers would never go back to renting.
77% believe buying their home is the best investment they ever made.
Nearly 75% of first-time buyers believe that the value of their home will go up in 2006.
78% of renters believe that it is generally true that people cannot obtain mortgages without perfect credit, and 52% of renters believe that they personally can’t get a mortgage because of credit issues. But 46% of the first-time buyers surveyed didn’t believe their credit was “excellent” or even “very good.”
56% of renters believe that a downpayment of 15 percent or more is required when buying a home, and 55% believe that size of a downpayment is a personal barrier for them. But 74%reported they put less than 15 percent down.
I believe “picky” is a good thing. Buying a home is the largest investment most of us make and it needs to be right for you. Contact me, or visit my website, if you are thinking about buying a home near Okemo Mountain in Vermont. I am glad to work with “picky” buyers!
Interest Rates Hiked To 5 Year High
The Federal Reserve raised interest rates yesterday to 5.25% which is the highest level in more than 5 years.
What does this rate hike mean to you if you are in the market to buy a home? Give me a call or visit my website. I can introduce you to a well-qualified, knowledgeable, experienced loan officer who can answer all your questions.
Landscaping Pays Off Big
Money spent sprucing up the yard with trees, shrubs, lighting, and patios is well worth it — especially when it comes time to sell the home, a new study says. The report, by Arbor National Mortgage, found that 84 percent of real estate professionals believe a house on a treed lot would fetch at least 20 percent more than one on a lot without trees.
Another of the company’s surveys suggested that while shelling out for top-of-the line landscaping may only bring in an additional 4 percent to 5 percent, spending minimal amounts has a penalty. Homes swith average landscaping sell for 20 percent more than homes with just fair landscaping.
The American Society of Landscape Architects suggests budgeting 5 percent to 10 percent of a home’s value for its initial landscaping.Before launching into a landscaping project, keep these pointers in mind:
1. If you can’t afford to hire a landscape architect, check out the services offered by nurseries and big-box home improvement retailers, such as Home Depot. Many offer design services — sometimes without charge — if you are buy plants there.
2. You can save about half the cost of landscaping if you do the work yourself. But keep in mind that large trees are often killed when carried uncovered in the back of the buyer’s SUV from the nursery to the house, not because they are planted poorly. Also, most nurseries won’t guarantee plants they don’t install.
3. If you’re trying to stick to a tight budget, remember that a few larger plants will have a greater visual impact than many small ones.
4. Before planting trees, determine how large they will become and what leaf pattern will develop. If you plant a big tree too close to the house, the growing roots could cause the foundation to crack. And if you place it too near a sidewalk or driveway, root expansion could cause the pavement to buckle.
Source: Orlando Sentinel, Lew Sichelman (6/11/06)
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Want to know how your landsaping has increased the value of your Vermont home? Visit my website for your Free home evaluation.
Theft Proof Your House
Theft Proof Your House
School is out! And this means family vacations. When preparing to leave home on vacation, we all put much time and effort into what we are taking with us, but not much thought to what we are leaving behind…our home.
Vacation time is prime time for burglars. Most communities experience a 10-18% increase in burglaries during the summer months. So, you will want to do everything you can to protect what is yours while you are not at home.
It surprised me to learn that most burglaries occur during daylight hours. CNN.com has 5 commom sense tips to make it hard for thefts to get into your home. Follow these tips and be safe!
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Thinking of buying or selling a home? Visit my website to view all central Vermont real estate listings and to get a Free home valuation.
Who Needs A Survey?
Who Needs A Survey?
A property survey is a map of a property showing where structures, easements and boundaries are located. To most buyers, being required by the mortgage company to have an updated survey for closing just seems like a waste of money. And, who wants to spend more money than absolutely necessary?
But, a survey is like insurance. The chances of you ever really needing it are slim, but if you ever do need it, you will be glad you have it. CNNMoney.com has a great article about folks who wished they had a survey. Be sure to take a look.
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Thinking of buying or selling a home? Visit my website. Here you can look at all homes listed for sale in Hampton Roads and get a Price Valuation.
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