We recently read an encouraging bit of news about a recent “bill introduced to speed up short sales.” Efforts to better help homeowners selling and buying short sale homes could be underway in the future.
Here is an excerpt from HousingWire’s Jon Prior, Bill introduced to speed up short sales
“A bill was introduced in the House of Representatives this week,
requiring mortgage servicers to respond within 45 days of receiving a
short sale request.
The bill was introduced by Rep. Tom Rooney (R-Fla.) and Rep. Robert Andrews (D-N.J.). The National Association of Realtors
immediately backed the bill saying it would assist homeowners who are
unable to avoid foreclosure, though member real estate agents have long
complained of extended short sale transactions taking as much as year to
complete.
“The current short sale process can be time-consuming and
inefficient, and many would-be buyers end up walking away from a sale
that could have saved a home owner from foreclosure,” NAR President Ron
Phipps said.” Read more.
Whether you’re a current or prospective home owner, or just interested in home building learn about the advantages of building at New Home. Visit the National Association of Home Builders for great resources about new home buying and building. For local information about new home building, check in with Terry and Jim at Team Cheatle REALTORS and Walter and Nicole at Trigon Homes, LLC. They are happy to answer questions about what’s available in the Culpeper and surrounding areas.
Is a housing shortage around the corner?
As the market improves, and affordable homes are snatched up, we could be headed for a new home shortage. This article, Real estate: It’s time to buy again, gives an in-depth look by Sean Tully, Fortune Magazine. He writes, “So let’s state it simply and forcibly: Housing is back.”
As the real estate market improves and available homes are snatched up at great prices, Tully takes a look at the housing market to come. Read more...
NEW YORK – The number of people who signed contracts to buy homes rose in November, the fourth increase since contract signings hit a low in June.
The National Association of Realtors says its index of sales agreements for previously occupied homes increased 3.5 percent last month from a downwardly revised reading in October. Contract signings were up in the West and Northeast, but down in the South and Midwest.
Signings are 22.1 percent above June’s index reading, which was the lowest level since the private group began tracking the data in 2001. Still, signings are 5 percent lower than November 2009 when buyers were scrambling to close purchases to qualify for the first federal tax credit.
Still, the [last] year is shaping up to be the worst for home sales since 1997.
Source: Yahoo Finance
Heat Smartly With ENERGY STAR
Winter is almost here and homeowners are looking for ways to heat their homes without breaking the bank on energy bills. The average family spends $2,200 a year on energy bills, nearly half of which goes to heating and cooling. Depending on where you live, replacing your old heating and cooling equipment with equipment that’s earned the ENERGY STAR can cut your annual energy bill by more than $200. In addition to saving money, reducing energy use at home can reduce greenhouse gas emissions and help fight climate change.
ENERGY STAR offers the following five tips to help you save money on heating bills, keep your home comfortable, and protect the environment:
1) Assess your home @ energystar.gov. Start with the Home Energy Yardstick to see how your home’s energy use measures up compared to similar homes across the country. Then, use our Home Energy Advisor to get recommendations for energy-saving home improvements for typical homes in your area.
2) Seal air leaks in your home. Sealing air leaks with caulk, spray foam, or weather stripping will have a significant impact on improving your comfort and reducing energy bills. If you are adding insulation to your home, be sure to seal air leaks first, to ensure you get the best performance from your insulation.
3) Maintain heating equipment. Dirt and neglect are the number one causes of heating system failure. Maintain heating equipment by checking your system’s air filter every month and changing it if it is dirty. At a minimum, change your filter every 3 months. Also, schedule pre-season checkups of your equipment with a licensed contractor to make sure your system is operating at peak performance.
4) Use a programmable thermostat. Regulate your home’s temperature while you’re away or asleep by using one of the convenient pre-programmed settings on a programmable thermostat. When used properly, programmable thermostats can save you up to $180 every year in energy costs.
5) Look for ENERGY STAR qualified products. Whether you are replacing light bulbs or appliances in your home, ENERGY STAR qualified products can help you save energy and reduce energy bills. The label can be found on more than 60 types of products ranging from heating and cooling equipment to compact fluorescent light bulbs (CFLs). Also, look to EPA's ENERGY STAR program for advice on other ways you can save at home such as using power strips as a central 'turn-off' point for electronics and office equipment, making sure computers and monitors are “powered down” when not in use and reversing the blade rotation on ceiling fans to help spread warm air around a room.
If every American household serviced their heating and cooling systems, changed their air filters, sealed and insulated heating and cooling ducts in unfinished areas, and programmed their thermostats for energy savings while they are away or asleep, we would save $14 billion in annual energy costs and prevent more than 160 billion pounds of greenhouse gases, equivalent to the emissions from 14 million cars.
We read a great article recently, “10 Reasons To Buy a Home” by Brett Arends, who outlines sound reasons why you should buy a home even in today’s market.
His top three reasons are:
1. You can get a good deal.
2. Mortgages are cheap.
3. You’ll save on taxes.
Read all of Brett’s article in the Wall Street Journal here.
