How does our air inside the house get polluted?

Green homeMuch can be said about proper ventilation, for if we don’t have enough fresh air entering the home, then pollutants can accumulate to levels which can pose immediate health problems and affect our comfort.

We usually think of air pollution as being outdoors, but the air in your house or office could also be polluted. Sources of indoor pollution include:

  • Mold and pollen
  • Tobacco smoke
  • Household products and pesticides
  • Gases such as radon and carbon monoxide
  • Materials used in the building such as asbestos, formaldehyde and lead.

Usually indoor air quality problems only cause discomfort. Most people feel better as soon as they remove the source of the pollution.

Next: How Do we improve the air quality in our Homes?

 

 

 

 

 

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Why Borrowers Pay For Mortgage Insurance…

Why Borrowers Pay For Mortgage Insurance…

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Because of the risk on default and loss of the loan. Lenders require private mortgage insurance known as PMI on mortgages with down payments less than 20% from the purchase price.

If lenders paid for mortgage insurance and passed on the cost to borrowers as a higher interest rate, they might have bumped up against those ceilings. If the borrower paid the premium, this potential roadblock is avoided.

Generally, the larger the loan amount, the more risky it is to the lender. Private mortgage insurance is protection for the lender against a borrower defaulting on the loan. If the borrower can’t pay back the loan, the lender has a way to get its money back.

New homes sales see biggest monthly jump!

New homes sales see biggest monthly jump!

Sales of new single family houses in August 2014 were at a seasonally adjusted annual rate of 504,000, up from July’s printing of 427,000, the fastest rate in six years and the biggest monthly jump since January 1992.

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The biggest gains and by far the reason for the big increase were new home sales in the West, one of the two largest housing markets, along with the South.

New home sales in the West were up 50% over July.

The South saw an 8% increase. The South is by far the largest region for new home sales, outdistancing all other regions combined.

The median sales price of new houses sold in August 2014 was $275,600; the average sales price was $347,900.

Luxury Homes!

Luxury Homes!

Luxury is a symbol of a particular lifestyle. It is a representation of a higher standard of living.  This is reflected and is often noted by the number and size of the rooms, specific décor, and other customizable features chosen by Luxury-Home-Interior-929the homeowner.

Luxury homes also boast interesting features not found in other homes. Some of these are customized to fit the wants and needs of the homeowner.

Examples of such features include: granite counter tops, crown molding, stainless steel appliances, and media rooms.

Most of these houses may include a formal dining room perfect for hosting large dinner parties and entertaining guests. They come in different shapes, sizes, and styles, so finding the right home for your money is extremely important. Everyone dreams of having a perfect home!   As always, a Realtor will  be able to take the time and search for the home  of your dreams!

U.S. construction spending rebounds strongly

U.S. construction spending rebounds strongly

construction-spending-misses-expectations-falls-06U.S. construction spending rebounded strongly to hit its highest level in more than 5½ years in July.

Construction spending increased 1.8 percent to an annual rate of $981.31 billion, the highest level since December 2008, said the Commerce Department on Tuesday.

The housing market recovery is back on track after stagnating from the second half of 2013 in the wake of a spike in mortgage rates and higher home prices amid a stock shortage.

What matters the most…Home Prices or Low Rates?

What matters the most…Home Prices or Low Rates?

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Whether sales price is more important than the interest rate depends on your perspective. It’s pretty much impossible to time the real estate market, but you can try to take advantage of the way the market moves.

A dramatic rise in home prices can slow home sales even when mortgage rates are low if mortgage availability is tighter.  Banks prefer higher prices to recoup their capital from their bad bubble-era loans, so they are offering 4% interest rates to prevent prices from going any lower.

However, most buyers prefer lower prices, but since the banks make the rules which determine market prices, low interest rates and high prices are what we get.

Buyers who purchase during a period of high mortgage rates may get the boost in appreciation from declining rates.  Low mortgage rates build equity faster through amortization but slower by appreciation. High mortgage rates build equity faster by appreciation but slower through amortization.

You can’t always predict how the market will move. But you can watch it move and get ready, set…GO!!

 

Lower Rates continues to Boost Loan Demand

Lower Rates continues to Boost Loan Demand

After several weeks of drops in interest rates, mortgage applications finally got a modest lift as refinancers and home buyers took advantage of them.apr1

The Mortgage Bankers Association’s weekly mortgage market index showed that total mortgage application volume rose 2.8 percent during the week ending Aug. 22 compared to a week earlier.

Broken out, applications for refinancing’s increased 3 percent last week but remain 25 percent below a year ago — even when mortgage rates were higher, MBA reports. Home-purchase mortgage applications also rose 3 percent during the week and remain 11 percent below its rate last year at this time.

While mortgage rates have teetered within a tight range, even a slight drop in interest rates was enough to boost mortgage applications

California-Home of the Best High Schools

California-Home of the Best High Schools

California is home to nearly 600 Cal_High_School_01schools ranked among the 2014  U.S News Best High Schools.  One of California’s gold medal schools is the highly ranked  Oxford Academy,  which is located in the Anaheim Union High School District, about 25 miles from Los Angeles and roughly 400 miles from the state capital of Sacramento. U.S. News evaluated more than 31,000 schools for the 2014 Best High Schools rankings.

HELOC’s holders are most at risk

HELOC’s holders are most at risk

Home Equity lines of credit, popular during the housing boom of the mid-2000s, are now a source of concern, as many of these loans are due to reset to higher payments. The structure of a HELOC allows for a draw period where consumers can use the funds and can often make interest-only payments. Then, after a set number of years, it enters an end of draw period, where funds can no longer be borrowed and consumer payments consist of both interest and principal.   actnow

More than 92%, or $438 billion, in HELOC balances hadn’t entered their end of draw period as of the end of 2013, according to the report issued by Black Knight Financial Services on Tuesday.

An earlier estimate from the Office of the Comptroller of the Currency suggested that $171 billion in home equity lines held by the country’s biggest banks would reset between this year and the start of 2018 compared with 28 billion in the previous four years.

Getting ready for the reset, here a few tips:

  • Know when the rate is set to adjust.
  • Understand what it will mean for your cash flows, and take action immediately.
  • Consider refinancing.

Keep in mind that variable rate HELOCs will move higher in step with Federal Reserve interest rate hikes once they commence.

The payment shock on the HELOC’s reset may put a significant number of borrowers into default, and those financial stumbles could ripple through the economy. Act Now!

Have a great school year!

The early morning rise is now the everyday activity for all kids who attend Elementary school student with A+ report cardschool.  They have to do homework each night and dress in well, clothes each day as opposed to sleep wear.   Run through their checklist of stuff, such as pencils and paper, lunch, binders, agenda, phone, etc.  it really takes a lot to be a kid in school these days.

I hope you had the best summer ever, spend a lot of time together as a family, and treasure those moments forever!

Wishing you all, parents and kids for a great school year!

As Always, Keep up the good work!