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While lending remains tight in troubled markets, banks are starting to relax standards for borrowers with good credit in recovering areas of the country. In some parts of the country, borrowers with good credit are more likely to be able to borrow 95% of the purchase price than they were just a few months ago. According to The Wall Street Journal, in troubled markets (i.e. Florida) credit remains tight and mortgage companies continue to scrutinize property appraisals, which makes it difficult for some borrowers to get financing. But in most areas of the country where prices are stabilizing or falling only slightly, standards are relaxing. This is great news and another sign that the economy is truly beginning to improve. Visit my website for more up-to-date real estate news.

Things can get crazy around the holidays. All the shopping, decking the halls and visions of sugar plums can cause homeowners to lose focus and overlook issues that can turn a season of joy into a season of “oops.” It doesn’t have to be that way. Here is a Top 10 list to remind busy homeowners that just a few minutes a day can keep the ghost of deferred maintenance away: Clean your gutters and downspouts. They play an important role in diverting water away from foundation walls. That means less damage related to water and moisture. If you clean them before winter weather moves in, you can keep your basement and crawl spaces dry and leak-free. Drain exterior water lines. Frozen pipes that can crack the lines are history if you remove, drain and store outdoor hoses now. Give your garbage disposal a hot water bath. Cooking for crowds puts additional stress on these appliances. Flushing the garbage disposal with one pot of hot water and a half-cup of baking soda now – and again after the h

Carbon monoxide, or CO, is a dangerous gas that you cannot see, smell or taste. Carbon monoxide can be deadly. By knowing more about CO, you can protect yourself and your family from CO poisoning. Sources of Carbon Monoxide CO can come from anything that burns fuels, especially if it is not used or vented in the right way. Examples include: • Furnaces • Gas-powered home appliances • Wood stoves • Gas-powered tools • Kerosene heaters • Gas and charcoal grills • Generators • Cars and trucks Symptoms of carbon monoxide poisoning CO poisoning can feel like the flu without a fever, but in a very short amount of time it can become very serious. CO Can Cause: • Headache • Nausea • Dizziness • Vomiting • Fatigue • Passing out • Shortness of breath • Death! How to Prevent CO Poisoning • Place CO alarms close to all sleeping areas in your home, and change the batteries each time you change your clock for daylight savings time. Never ignore a carbon monoxide alarm. • Have appliances, furnaces and

A policy of title insurance is a contract of indemnity between the insured and the insuring company relating to the title to the land described in the policy, protecting the insured against loss of damage by reason of defects, liens or encumbrances of the insured title existing at the date of the policy and not expressly excepted from its coverage. The policy is issued after a complete search and examination of the public records and shows the condition of the record title, including any money obligations outstanding against the property, easements and other matters which may affect the rights of ownership, possession and use of the property. Title insurance protects the "record" title, insuring it is good subject only to the exceptions expressly set out in the policy. lt also insures against certain matters which do not appear of record, such as forgery, identity of parties, incompetence of former owners, interest of missing heirs, and status of individuals not having the &q

Thanks to the success of home buyer tax credit to date, the outlook for housing and the economy appears to be headed toward recovery. Executives from some of the largest brokerages in the country expect to see their sales grow 6-8 percent in 2010 and home prices to start heading up about 3 percent. Existing-home sales are expected to total 5.01 million in 2009, a gain of 2.0% over last year, and then are forecast to rise 13.6% to 5.69 million in 2010. It is expected that the expansion of the tax credit to include repeat buyers will help boost middle-market sales for next year. The improvement in the middle market will help tighten inventories, helping to shore up prices. It looks as though we have seen the worst of it!

So, you’ve decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here is what you will have to do to get your benefit: Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract by April 30, 2010 and close by July 1, 2010. Decide whether you are going to: apply the credit to your 2009 tax return, filed on or before April 15, 2010; file an amended 2009 return; or, apply the credit on your 2010 return, filed on or before April 15, 2011. 3. Attach documentation of purchase to your return. Documentation of Purchase Details concerning the precise documents required to confirm your purchase have not yet been released. When this information becomes available, I will include instructions and links to the appropriate forms. When to Apply the Credit Buyers purchasing homes on or before December 31, 2009 may claim the credit on their 2009 tax returns. Buyers purchasing in 2010 will have the option to: Claim th

This is important if you know someone who: 1. Plans to acquire or sell a rental property 2. Currently has an investment property 3. Is the tenant in a rental property Effective November 1, 2009, single family and multifamily properties are required to have working smoke detectors and carbon monoxide detectors. This includes single family homes that are occupied under the terms of a rental agreement or month-to-month tenancy. All transfers of property after October 31, 2009, must be certified to the buyer at closing by the seller that the property provides smoke detectors and carbon monoxide detectors in accordance with the law. Click here for more information regarding this new law.

Who Qualifies for the Extended Credit? First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010. Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight. To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase. Which Properties Are Eligible? The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops. How Much Is Available? The maximum allowable credit for first-time home buyers is $8,000. The maximum allowable credit for current homeowners is $6,500. How is a Buyer's Credit Amount Determined? Each home buyer’s tax credit is determined by tow additional factors: The price of the home The buyer's income Price Under the Extended Home Buyer Tax

Legislation has been passed to extend the $8,000 home buyer tax credit to May 1, 2010, for first-time buyers and add a $6,500 tax credit for repeat buyers if they've lived in their home for five of the past eight years. Home prices are capped at $800,000. The legislation in both houses was included in a bill to extend unemployment benefits and is expected to be signed by President Obama shortly. Under the bill, income limits are expanded to $125,000 for individuals and $225,000 for joint filers. Individuals with incomes up to $145,000 and joint filers with incomes up to $245,000 qualify for reduced credits.Households who have binding contracts in place by April 30 will be allowed an additional 60 days to complete their transaction. The deadline for members of the military serving out the U.S. for at least 90 days between Jan. 1, 2009, and May 1, 2010, has been extended one year. Taxpayers can claim the credit on their federal income tax returns. If the credit exceeds their tax bill

Are you ready to own a home but are not sure you will qualify due to lack of a down payment? Rural Development may be able to help you! USDA Rural Development has offers 100% financing opportunities to rural individuals and families with: No down payment required No expensive monthly mortgage insurance (which means you may qualify for a larger loan) Flexible credit and qualifying guidelines No maximum purchase price limit Closing costs can come from any source including gifts or the seller Repairs and improvements can be included in the loan Competitive fixed 30-year rates. So, if you have been thinking about taking advantage of the $8000 Home Buyer Tax Credit, but do not have the money for a down payment and closing costs, think again! The Rural Development guaranteed loan program has assisted thousands of home buyers customers just like you. It is definitely worth looking into! Click here for more information and check out my website for more home buying tips!