Wednesday, March 10, 2010

Buyers Should Consider Prepaying Mortgage


I do realize that in the present economy many of us are in pretty dire straits. But there are a few who are not. This article is for them. It is also great advice that I wish I were in a position to follow!


Should home buyers with sufficient cash pay down their mortgages or put the extra money in investments or savings?


Financial experts say the choice depends on the home buyer's employment prospects, current savings, and investable assets.


If life looks a little uncertain, they advise putting the money in a safe place, like a savings account. But for people with more stable financial situations, paying down the mortgage can be a great investment, often providing a better return than a savings account.
Source: Washington Post, Ilyce R. Glink and Samuel J. Tamkin (2/27/2010)
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The NO BULL Team
Marianne and Dwayne Smith
615-517-6560 or 615-509-2428
Affiliated with Keller Williams Realty, Hendersonville, TN, 615-822-8585
Each office is independently owned and operated.

Tuesday, February 2, 2010

Interest Rates on 30 Year Fixed at 4.98%


Mortgage interest for the past week held fairly close to the previous week's rates, reports Freddie Mac. Average interest on 30-year fixed loans slipped a notch to 4.98 percent from 4.99 percent and was down from 5.10 percent a year ago. While still higher than the historic lower of 4.71 percent established in early December, long-term mortgage rates have hovered around a very favorable 5 percent thanks to the Federal Reserve's mortgage-backed securities program meant to keep rates low and make home buying more affordable. The central bank's policymaking committee confirmed on Jan. 27 that it will keep rates near those record lows in order to prop up the economy; but it still plans to terminate the program at the end of March.
[SOURCES: Freddie Mac; Information, Inc.]
If you're thinking of buying or selling, please consider meeting with us for a no obligation consultation. Low interest rates and the extension of the home buyers' credit make for a great buying/selling opportunity.
The NO BULL Team
Marianne and Dwayne Smith
615-517-6560 or 615-509-2428
Or Office 615-822-8585
Keller Williams Realty, 100 Bluegrass Commons, Ste. 2100, Hendersonville, TN, 37075
Each office is independently owned and operated.

Thursday, January 28, 2010

Top Ten Must-Have Features In Today's New Homes


By Steve Kerch
RISMEDIA, January 25, 2010—(MCT)—Americans want smaller houses and they are willing to strip some of yesterday’s most popular rooms—such as home theaters—from them in order to accommodate changing lifestyles, consumer experts told audiences at the International Builders Show.
“This is a traumatic time in this country and the future isn’t something we’re 100% sure about now either. What’s left? The answer for most home buyers is authenticity,” said Heather McCune, director of marketing for Bassenian Lagoni Architects in Park Ridge, Ill. Buyers today want cost-effective architecture, plans that focus on spaces and not rooms and homes that are designed ‘green’ from the outset,” she said. The key for home builders is “finding the balance between what buyers want and the price point.”
For many buyers, their next house will be smaller than their current one, said Carol Lavender, president of the Lavender Design Group in San Antonio, Texas. Large kitchens that are open to the main family living area, old-fashioned bathrooms with clawfoot tubs and small spaces such as wine grottos are design features that will resonate today, she said. “What we’re hearing is ‘harvest’ as a home theme—the feeling of Thanksgiving. It’s all about family togetherness—casual living, entertaining and flexible spaces,” Lavender said.
Paul Cardis, CEO of AVID Ratings Co., which conducts an annual survey of home buyer preferences, said there are 10 “must” features in new homes:
1. Large kitchens, with an island. “If you’re going to spend design dollars, spend them where people want them—spend them in the kitchen,” McCune said. 2. Granite countertops are a must for move-up buyers and buyers of custom homes, but for others “they are on the bubble,” Cardis said.
3. Energy-efficient appliances, high-efficiency insulation and high window efficiency.Among the “green” features touted in homes, these are the ones buyers value most, said Cardis. While large windows had been a major draw, energy concerns are giving customers pause on those. The use of recycled or synthetic materials is only borderline desirable.
4. Home office/study. People would much rather have this space rather than, say, a formal dining room. “People are feeling like they can dine out again and so the dining room has become tradable,” Cardis said. And the home theater may also be headed for the scrap heap, a casualty of the “shift from boom to correction.”
5. Main-floor master suite. This is a must feature for empty-nesters and certain other buyers, and appears to be getting more popular in general. That could help explain why demand for upstairs laundries is declining after several years of popularity gains.
6. Outdoor living room. The popularity of outdoor spaces continues to grow, even in Canada. The idea of an outdoor room is even more popular than an outdoor cooking area, meaning people are willing to spend more time outside.
7. Master suite soaker tubs. Whirlpools are still desirable for many home buyers, but they clearly went down a notch in the latest survey. Oversize showers with seating areas are also moving up in popularity.
8. Stone and brick exteriors. Stucco and vinyl don’t make the cut.
9. Community landscaping, with walking paths and playgrounds. Forget about golf courses, swimming pools and clubhouses. Buyers in large planned developments prefer hiking among lush greenery.
10. Two-car garages. A given at all levels; three-car garages, in which the third bay is more often than not used for additional storage and not automobiles, is desirable in the move-up and custom categories.
(c) 2010, MarketWatch.com Inc.
Distributed by McClatchy-Tribune Information Services.
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