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Benefits Of A Smart Home

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4 Bedroom 4 Bath Home In North Central San Antonio For Sale

Decorating Small Kitchens

Cleaning With Lemon Juice

Find 10 household uses for lemons. They are a natural disinfectant, stain remover and are wonderful for polishing metal. Also, lemons are inexpensive and eco-friendly. 

Cleaning laminate countertops: Cut a whole lemon in half, squeeze the juice onto the counter. Using the lemon as a scrubber, work the juice over the stains. Leave the juice on until the stains disappear then rinse with water and dry. The citric acid will quickly remove the stains.  Bottled lemon juice can be substituted for a fresh lemon.

Cutting boards: The same procedure works on cutting boards. Rub the lemon onto the stains and let it sit until the stains are gone. The lemon will also disinfect the board at the same time.

Cleaning copper: Cut a lemon in half and sprinkle salt (any kind -- even sea salt) onto the lemon. Massage the lemon wedge onto the brass, squeezing the juice out until the tarnish is buffed off. As it stops working, add more salt to the lemon. Rinse well with water and let dry. It is important to keep copper bottom pans clean because they redistribute the heat according to how clean they are on the bottom.

Cleaning brass: If a piece is brass plated, it will be brass on one side and solid black on the other side. Never use lemon on anything that is brass plated -- only solid brass. Brass plated items need to be cleaned very gently with an oil soap -- never use anything acidic on it. Use the same method for cleaning solid brass as for copper -- one half of a lemon with salt sprinkled on it and rub until it is clean. Rinse well with water.

Removing rust from clothes: Put lemon juice on the rust stain and then sprinkle cream of tartar onto the top of the juice. Rub in the solution and let it sit on the stain until the rust is gone. The citric acid will take the rust off. Some stains are tougher than others, but 15 to 30 minutes should work just fine. Launder as usual.

Bleaching white clothes with lemon juice: Mix 1/2 cup lemon juice (or sliced lemons) with one gallon of very hot water. Soak the clothes in the solution. Do not use for silk, it is best for cotton and polyester. Let the clothes soak from an hour to overnight, depending on how badly the clothing needs bleaching. Rremove the clothing from the mix and pour the mix into the washing machine and wash as usual. It's impossible to over-bleach using lemon juice.

Getting stains out of Tupperware: Squeeze lemon juice in the container and then add baking soda. Use the lemon as a cleaning tool and work it in. If the stains are bad, let it sit overnight before scrubbing the stains.

30 Can't-Miss Home Staging Tips

Designed to Sell designer Lisa LaPorta shares some of her best home staging tips.

Grimy bathroom walls are a major red flag to buyers.
 Here is an easy way to get rid of surface mold: Mix a spray bottle with one part water and one part bleach. Just spray it on the wall, and watch the mold disappear. Give it a fresh coat of paint, and your grimy bathroom will go from red flag to red-hot.

Don't replace a yucky shower door: Just scour it. A grimy glass shower door can really wash out your sale. Instead of replacing it, clean it with a mixture of one part muriatic acid and about 10 parts water. Scrub with steel wool. After wiping it down, reinstall the door and you'll have a shower that'll help you clean up at the open house.

Avoid dated tile by painting. Bathrooms sell houses, but dated tile in a bathroom doesn't. A low-cost alternative to replacing the tile is to use paint. First coat the tiles with a high-adhesion primer. Next, brush on a special ceramic epoxy covering. For a fraction of the cost of new tile, you will have an up-to-date bathroom that brings in big bucks.

Pedestal sinks are a big hit with buyers. They show off square footage in small bathrooms beautifully. First, your old vanity has to go. Next, just hook up your new sink, and your bathroom will have dramatic appeal that brings in big bucks. Plus, buyers will see how much floor space your bathroom has.

A master bedroom should appeal to both sexes. When you are selling, your master bedroom should appeal to buyers of both sexes. Get rid of features that seem too gender-specific. Paint the walls a neutral color, and choose bedding that matches. Then accessorize with items that complement the overall color scheme.

Do you have an overpowering brick fireplace that sticks out like a sore thumb? Here's an easy way to tone it down with paint. Use a rag or brush to rub a light coat of paint on the bricks, one at a time. This will give them a new tone without covering them completely. And, if you use a paint color that matches the walls, your fireplace will go from sticking out to standing out.

Updating an old fireplace screen is a cheap (and quick) fix. After removing the screen and wiping it down to get rid of the dust, mask off the windows so you won't get paint on them. Then, using a can of heat-resistant spray paint, give the screen a facelift. Hold the can about 18 inches away, and use long, even strokes. For less than $5, you will have a fireplace screen that'll keep your sale from going up in smoke.

Turn an unattractive fireplace into a selling feature. Need to turn an unattractive fireplace into a selling feature? First, that dated brass screen has got to go. Next, give the fireplace a good cleaning, scrubbing it with soap and water. Then, using a stone color enhancer, polish the bricks to make them shine. In no time you will have a fireplace that will turn your house into the hottest property on the block.

Stain dated kitchen cabinets instead of replacing them. Dated kitchen cabinets can be a big turnoff to potential buyers. Instead of paying big bucks to replace them, just stain them. First, apply the stain in even strokes, going with the grain of the wood. Add some stylish hardware, and your kitchen will have the up-to-date look that buyers love, for less than $200.

Stainless-steel appliances are definitely in with buyers. Instead of buying a new dishwasher, here is a low-cost way to resurface an old one: First, remove the front panels, and clean them. Next, apply a stainless-steel stick-on covering, and cut it to size. For just $20 your dishwasher will go from outdated to ultra-modern.

Fill existing hardware holes instead of making new, unsightly ones. Removing old kitchen hardware can leave your cabinets with stripped-out holes. Here is a trick to reusing the existing ones.

First, dip a toothpick in glue and place it in the stripped hole. Cut off the excess piece. Once the glue dries, you'll be ready to put in the hardware that buyers love.

Save money on granite countertops. Granite countertops are a huge selling feature, but they can be expensive. Here are a few ways to save on this investment:

First, do the demo yourself. Also, ask the vendor for remnants from previous projects. Remember, any money you spend will definitely be returned in the value these beautiful counters add to your kitchen.

New kitchen appliances bring high returns from sellers. Studies show that new kitchen appliances bring high returns from sellers, so get rid of old appliances that make the rest of the kitchen look dated. Once you install the new equipment, it will scream "new kitchen," and you will see that spending a little money will make you even more.

Need to dress up a window but don't want to shell out big bucks for window treatments? Here's a trick: Use place mats. First, apply a hook-and-loop fastener to the place mats and attach them in a row to a basic curtain rod. Now that the place mats are attached to the curtain rods, pin them together at the bottom, and you'll have a stylish valance that costs about $12.

Adding drama to old hardwood flooring is easier than you might think. First, isolate damaged boards, cut them out and replace them with new pieces. Rent a sander from a local hardware store, and give the floor a good sanding. The last step is to stain the boards with a rich color, and watch your floor go from drab to dramatic in no time.

Buyers love built-in bookshelves. There's a fine line between filling them with clutter and staging them to sell. The trick is to arrange neutral items in clusters. Make sure that no single accessory stands out too much. That way, you'll show off your attractive built-ins, and not your personal belongings.

Curb appeal is vital to attracting buyers. Here is how to stop traffic using color. First, with two tones of paint, add a faux finish to any corner keystones. Next, bring out the color of walkway pavers using a stone sealer. Plant flowers in bloom, and you'll have buyers swarming like bees to your front door.

A nice outdoor deck can be a big selling feature, but an old one is a major liability. To give your outdoor space new life, first sand the wood. Cover it with a light-colored stain instead of paint to give it a rustic, grainy look. Furnish it for entertaining, and watch your open house turn into a party.

Breathe new life into a worn patio. Do you have a red-brick patio surface that needs to be freshened up? Here is an easy way to give it new life with paint. First, roll a light coat of paint onto the bricks. Next, lightly spray them with water and then dab them before they dry to give them an outdoor look. When you are done, you will have a patio that looks fresh and reels in buyers.

Staging rooms to show off their true potential is essential when selling your home. Clear out clutter or other personal items that will distract buyers. Paint the walls a neutral tone, and furnish the space to show off how functional it is. When buyers come through and imagine themselves there, you can bet an offer isn't far behind.

A shabby wood-panel wall is not a strong selling point. Instead of ripping it out, cover it up. Use wood filler to carefully fill in all the cracks between the panels. Then, use a sponge to wipe away the excess filler. Once it's dry, paint the room. You'll see an unattractive wall go from standing out to blending in.

Use tape outlines on the floor instead of actually moving furniture around. Rearranging a room to stage it for your open house? Here is a tip to save time and effort: Instead of lugging the heavy furniture around the room to see what feels best, put outlines on the floor with painter's tape. Arrange the room according to your outlines, and save your energy for counting offers.

Vinyl tile is an inexpensive way to update your home. Laying vinyl tile is an inexpensive way to update your home, but there's a right way and a wrong way to do it. You need to avoid laying patterns that look too perfect. Instead, make sure to switch up the direction and placement of the tiles to mix the tones. That way, you end up with a floor that has a natural feel.

Let the sun shine in. Buyers love light and airy living rooms, but dark and dingy isn't on their list. Open up your window shades to let some light in. Cheat some sunshine with a light-colored paint and lots of artificial lighting. You can never have too many lamps. Last, arrange the space with lightly colored furniture, and you'll have a living room that brightens your chances of a sale.

Stage rooms with one purpose so buyers will know what it is. Potential buyers are confused by extra rooms that have a mishmash of uses. To avoid this problem, first clear away clutter and excess furniture. Paint the walls a neutral tone and then furnish the room with a desk to stage it as a home office in which buyers will want to get down to business.

Unpleasant pet odors won't win over buyers. We all love our pets, but unpleasant pet odors can make a negative first impression. Be sure to get rid of old carpet that can trap offensive smells. Replace it with fresh new carpet in a neutral color. Plus, if you paint the walls to match, your living room will look bigger. It'll go from designed to smell to designed to sell.

Pack up unnecessary items and furniture before you show the house. An overpacked living room is a red flag to buyers that your home lacks storage space. Pack up unneccesary items and furniture, and move items to your garage or a nearby storage facility. Clear the way for a sale by letting buyers see your square footage, not your personal belongings.

Storage space sells! Potential buyers love homes that have lots of storage space. Since they will open your closets, it's a good idea to clear out unnecessary clutter, and organize your shelves to show off how much storage you really have. Plus, it gives you a chance to start packing, as you will definitely be moving once buyers see all that closet space.

Create a nice flow in your rooms. Buyers are attracted to homes that have a good flow. You can create circulation by replacing square or rectangular dining tables with round ones. Cutting the corners adds room to this maneuver and creates a spinoff effect that adds flow to your home — cash flow, that is.

Create a better flow in the house by starting with the floor. Want to create better flow in your house? Start with the floor. Join two rooms together by using the most cost-efficient material in the book: vinyl tile. First, use a snap-line to create a center point between the two rooms. Next, the fun part: Peel and stick the new vinyl tile down, and watch your kitchen and dining room go from old to sold!


Original Article at:  30 Can't-Miss Home Staging Tips

The science behind brain farts

It happens to you all the time. You're mid-sentence during a meeting with your boss, working on The New York Times' crossword puzzle, typing up an essay for grad school, or even talking to your mom on the phone — and the next word you're looking for just doesn't ... come.

You know the word. You've used it before. Maybe you remember the letter it starts with or the syllabic rhythm when it leaves your mouth.

There's a scientific term for this totally common phenomenon, which we like to call a "brain fart." You're experiencing tip-of-the-tongue (TOT) syndrome, from the phrase "it's on the tip of my tongue." And while there's no universally accepted cause, scientific theories abound.

See also: Why do people have different laughs?

Psychologist William James was the first person to describe the TOT phenomenon in 1890. "A sort of wraith of the name is in it, beckoning us in a given direction, making us at moments tingle with the sense of our closeness and then letting us sink back without the longed-for term," he wrote in his book Principles of Psychology.

But there wasn't empirical research until 1966, when Harvard researchers Roger Brown and David McNeil published a paper in the Journal of Verbal Learning and Verbal Behavior. They read definitions to people, and then asked them to recall the defined words. During the TOT state, these people could recall certain aspects of the word, and the closer they were to remembering it, the more accurate their associations became:

The signs of it were unmistakable; he [the subject] would appear to be in mild torment, something like the brink of a sneeze, and if he found the word his relief was considerable. While searching for the target, [he] told us all the words that came to his mind. He volunteered the information that some of them resembled the target in sound but not in meaning; others he was sure were similar in meaning but not in sound.

The TOT phenomenon is unique because of a feeling of "imminent recall," Brown and McNeil found. If we keep trying to remember the word, eventually it will turn up in our brains.

So, what do today's scientists think actually causes a brain fart? It could be psycholinguistic — a temporary breakdown in lexical word retrieval. Other researchers approach the phenomenon as a sign that something in the memory retrieval process has gone awry. Some believe a tip-of-the-tongue moment is the actual feeling that arises when retrieval fails.

"It's really hard to say what causes it," says Gary Small, M.D., professor of psychiatry and aging at the UCLA Semel Institute. "I don't think we've had enough research on it. But we do know that as our brains age, our neurons don't communicate as effectively as they did when they were younger ... The retrieval process becomes less efficient."

Stats vary widely, but older studies have shown that people between the ages of 18 and 22 experience TOT moments about once or twice a week, while older adults (ages 65-75) experience twice as many. Aging, sleep deprivation, anxiety, alcohol, distraction — anything that can affect physical and cognitive health will increase the frequency of "brain farts."
Whenever you try to remember something, your brain calls on your memory network — the hippocampus and other parts of your brain — to work together to access encoded memories.

"Long-term memory is more solid than short-term memory. It's easier to remember your high school graduation than what it is you had for lunch two days ago. The other side of that is, if, you don't retrieve a memory often, it may be harder to remember. You know you have it somewhere, but you just haven't used the information for a while. It gets a little a bit dusty," Small says.

The brain makes room for more important information to maintain its efficiency, taking the phrase "use it or lose it" literally. Small gives the example of phone numbers — we don't have to remember them anymore, because they're automatically stored in our smartphones. A new study even suggests that our memory includes a sort of "just-in-case file," storing trivial information for later — which may further explain why we forget words we don't use often.

Despite how common tip-of-the-tongue syndrome is, there aren't many practical strategies for overcoming it. In Small's experience as a clinician and a scientist, there are four major memory complaints: names and faces; places where you put things; prospective memory (i.e., remembering to remember things, such as leaving the house with your briefcase); and tip-of-the-tongue moments.

When Small couldn't find any successful tip-of-the-tongue strategies already out there, he simply made up his own — the "Look, Snap, Connect" technique — for his latest book, The Alzheimer's Prevention Program. "Look" reminds you to focus your attention, "Snap" means to create a mental snapshot and "Connect" is a way of giving the mental snapshot meaning.

Small says memory works in neighborhoods — you associate a memory with certain things, like an emotional or visual experience. "Look, Snap, Connect" aims to solidify these associations.

 "The next time you have a tip-of-the-tongue phenomenon, write down your associations to what you're trying to remember. Once you have that information, you can create a 'Look, Snap, Connect' mnemonic, so next time it happens, it won't be as daunting," Small says.

Coincidentally, Small had his own tip-of-the-tongue moment as I spoke to him on the phone, when he tried to remember the name of a film to use in an example. He could remember the star, actor Jeremy Irons, curled up on the floor and playing dead, wearing rings on his fingers. The word "rings" helped Small remember the title: Dead Ringers.

The same technique works for single words, too. For example, if you can't remember the word "metronome," write down your associations with that word. Small's associations would be "thermometer," "metrics," "metro" and the baby grand piano he learned on as a child, which would help trigger it.

"It sounds quite elaborate, but it's very effective," he says.

We all experience tip-of-the-tongue syndrome. Despite being named after an English-language idiom, it's known the world over. Cheyenne Indians call it navonotootse'a — "I have lost it on my tongue."
In Korean, the phenomenon is called hyeu kkedu-te mam-dol-da — "sparkling at the end of my tongue." Even those with hearing loss experience "tip-of-the-fingers" syndrome during signing.

While science is still trying to figure it out, we can at least find solace in the shared experience. Our brains all pass gas once in awhile.


Original Article at:  The science behind brain farts
By:  Matt Petronzio

5 trends coming to the smart home in 2015

The future of the connected home is continuing to evolve, and with more startups pitching products, the ship date of older crowdfunding campaigns hitting customer homes and big name companies warming to the space, I’m starting to see a few trends come together for 2015. I’m sure we’ll see more at CES in January, but based on conversations I’ve had and products I saw at our Structure Connect show last week, here are a few things you can expect on the connected home front.

The Peep connected camera may use Bluetooth to send images more quickly than Wi-Fi.

Bluetooth makes lighting a snap: At long last, products are coming on the market that will let you use Bluetooth to control light bulbs, outlets and more. These products are using mesh networking to make installing a connected light switch as easy as sticking a new plate to the wall using double-sided tape. Products from Avi-on (which is building bluetooth switches for GE’s Jasco brand), Oort, and Seed will change the way we use lighting in the home and at work. Even Peep, a company showing off a camera that snaps a picture when someone knocks on your door is looking at using Bluetooth as a faster way to get an image to people inside the home, since using Wi-Fi means it would go from the connected camera to the cloud and then to people’s phones.

An intercom system from Nucleus lets you use your phone to tell your home what to do.

To talk to your home, you’ll talk to your phone: This isn’t a trend I’m excited about, but it’s obviously where we are heading in the relative near term. Since our phones are equipped with awesome natural language processing already, big companies such as Nest and Apple and small ones like Nucleus and Ubi will use them to let people control their homes via voice. For example, Nest will integrate with Google Now’s speech recognition while Apple’s HomeKit is sure to have a Siri component. On the startup side, the Nucleus intercom system showed off a way to not only message people in your house, but to speak into the phone to control your lights. Ubi is building similar functionality into it’s app.

Roost’s low-power Wi-Fi helps keep this battery connected for five years.

Low-power Wi-Fi is coming even if the standard isn’t ready: Two companies, Homeboy and Roost were offering different products that took advantage of low-power Wi-Fi. The benefits of such a set up are pretty obvious — you don’t need a fancy hub to control a device and it can work for almost everyone. The Roost is a connected battery that lasts for about 5 years and can convert an existing smoke detector into a connected smoke detector. The Homeboy camera was a rechargeable security camera that lasts for 3 months before needing a top off. Both companies have built their own low power Wi-Fi IP as opposed to waiting for the 802.11ah standard to actually come out.

The founders showing off the alpha version of the Reach app at Structure Connect.

You won’t need a home hub to automate your house: This year’s hot device, the home hub that combines a bunch of radios with a software platform to let people control multiple connected devices is going away. Even SmartThings CEO Alex Hawkinson is ready to build software that is independent of the company’s hub, although he admits it may take some time and won’t include all the devices out there. I also saw a startup, showing off an Android-based controller called the Reach app that lets people pause videos, play songs over their Sonos and control a few other devices like Hue lights. The app is in alpha right now, but I’m eager to see it once it hits beta.

Mike Harris — CEO, Zonoff<br />Linden Tibbets — CEO, IFTTT

Get ready to pay: The business models that have been lacking in several popular services are beginning to crystalize. From Linden Tibbets. the CEO of If This Then That disclosing that he plans to have consumers pay for premium IFTTT services, to an in-depth discussion from IControl’s CEO on business models for the smart home, it’s clear that while companies have been focused on the user experience, the revenue models aren’t far behind.


Original Article at:  5 trends coming to the smart home in 2015

By:  Stacey Higginbotham

At CES 2015: More Attempts to Dethrone Stainless Steel’s Popularity

Stainless steel’s popularity has outshined its competition for years in kitchen appliances, but has that shiny, smudge-prone finish finally worn out its welcome?

Appliance manufacturers have long been trying to find a potential successor to stainless steel, but none have yet to find one to top its popularity. But two companies are giving it another chance with showcases at the 2015 Consumer Electronic Show in Las Vegas this week.

Appliance giant Whirlpool and LG are showing off new appliance finishes — with Whirlpool betting on gold and LG debuting a glassy black.

Whirlpool is introducing Sunset Bronze appliances to its lineup — a range of warm, golden hue appliances that can fit into contemporary or existing kitchens. The color is an attempt to capture on the latest popularity of rose gold in interior decors.
Photo Credit: Whirlpool

It’s not a complete verge from the stainless steel look, however. Sunset Bronze is a painted version of traditional stainless steel with a blend of gold, copper, and bronze tones. 

Meanwhile, LG is showing off a new take on black finishes. At CES this week, LG debuts a glass-front refrigerator finish called Contour Glass. The refrigerator features tempered glass over a black patterned finish that is a chic, yet smudge-proof way, to enhance kitchens. The finish is featured on LG’s new door-in-door refrigerators, which offer hidden compartments for extra storage behind the front door to hold condiments and drinks.

Will these smudge-proof finishes offer a convincing enough, stylish alternative to stainless?

“The kitchen is fast becoming a new canvas when it comes to home design and décor,” says John Hall, senior brand manager at Whirlpool.

“More and more, consumers seek ways to customize their spaces with new paint colors, different countertops and backsplashes, mixing and matching cabinetry, and colored small appliances.”
Photo Credit: LG

In 2012, Whirlpool had introduced White Ice and Black Ice finishes to its products lineup in its first attempt to to provide an alternative to stainless’ popularity. The color failed to catch on, though. Other manufacturers have tried as well, such as General Electric’s low-gloss slate gray finish.

What do you think? Do you think stainless steel stands a chance of being outshined in the kitchen any time soon?



Original Article at:   At CES 2015: More Attempts to Dethrone Stainless Steel’s Popularity
Posted in Home Trends, by Melissa Tracey on January 6, 2015

Simple & Efficient Colon Cleanse Remedy Made With Only 2 Ingredients

Many health conditions can be cured or prevented by eliminating the mucus, fecal deposits, and parasites from inside the intestines.

Over the course of 70 years, our intestines will process over 100 tons of food and 40,000 liters of fluid. This massive amount of food and liquid eventually leads to a build up of about 5 pounds of fecal deposits and toxic waste. These waste deposits contaminate our blood and eventually cause unrepairable damage to our bodies.

Here are some common signs of an intestinal blockage or build up:

• Frequent constipation
• diabetes
• disturbed metabolism
• hearing and vision problems
• excessive or insufficient weight gain
• kidney and liver disease
• skin, hair, and nail problems
• Arthritis
• Some forms of cancer

Enemas or clyster can clean the colon, but only a very small portion, 40-50 centimeters. Enemas also require special equipment, tend to be expensive, and can cause damage if not done correctly.


Indications of buildup or blockage:

• Inflammatory conditions of the upper respiratory tract, gastrointestinal tract
• gastritis, colitis, stomach, and duodenum ulcer
• diseases of the urinary tract, infections, cystitis, pyelonephritis
• excessive body weight, lipid metabolism disorders

Clean the intestine using this flax seed flour regimen – Instead of breakfast consume this mixture for 3 weeks:

• Week 1: 1 tablespoon of flaxseed flour and 100 ml of kefir
• Week 2: 2 tablespoons of flaxseed flour and 100 ml of kefir
• Week 3: 3 tablespoons of flaxseed flour and 150 ml of kefir

If you can’t find any flaxseed flour in your local store, just buy some flaxseeds and grind them very finely. Never make more then what you need for your current serving. Flax seeds can become rancid very easily. Prepare a fresh portion every morning.

Consume this wonderful mixture instead of breakfast! Make sure you also consume at least 2 liters of water per day. You may obtain better results if you drink honey water as well!

The cleaning procedure should be practiced once a year.


Original Article at:  Simple & Efficient Colon Cleanse Remedy Made With Only 2 Ingredients 

By:   MRaychev   Health , healthy recipes

Is it the beginning of the end for Zillow?

 ListHub announcement could be knockout blow

Ever since the News Corp. acquisition announcement of Move Inc. back in September, my wife (Julie Harris) and I have been predicting that ListHub would cut off the flow of listings to Zillow.

And last Tuesday our prediction came true when Inman broke the story that ListHub will no longer be providing listing leads to Zillow after April 7.

Just like you, we read it here first in “Rupert Murdoch playing hardball with Zillow” by Andrea V. Brambila — and I’m sure we’ll see plenty more stories providing us with additional information as the story progresses. We wanted to discuss what we know so far and offer our thoughts on what it could mean for the industry, agents and brokers — so it was the highlight of two of last week’s radio programs.

For those who don’t know, it works like this: ListHub is the primary syndication channel that agents and brokers use to submit their listings to all the major listing portals — including realtor.com, Zillow, Trulia, and scores of other specialty portals and online real estate services across the country. So agents and brokers submit listings to the MLS, which passes them into ListHub, which then syndicates out the new listings online. It’s a relatively simple system, but in order to make it work across hundreds of MLSs across the country, it requires a large, established data aggregator (like ListHub) to bring it all together.

Move owns ListHub — it has for several years now — which puts it in an interesting position: Even though Move competes with Zillow directly through realtor.com (another Move subsidiary), it’s also a major supplier of listing data to Zillow. It’s an awkward position to be in, for sure — especially when Zillow has used that very same listing data to dominate the online market and then sell the leads it generates back to agents at a premium.

Now that Rupert Murdoch’s News Corp. owns Move, the situation has only become more awkward — particularly with increasing agent complaints about the quality of both Zillow listing data as well as the buyer leads that it generates.

So when Zillow’s chief revenue officer, Greg Schwartz, announced, “We’ve not been able to come to terms with News Corp.” and “the ListHub agreement will most definitely expire” in April, we weren’t exactly surprised. In fact, as I said before, it’s something we’ve been predicting for months. It raises some big questions — ones worth discussing.

First, what happens to Zillow now? It has been working diligently over the last few months to create direct relationships with brokers and MLSs in order to bypass ListHub, but it’s a giant undertaking, and from what we’ve read, it’s not something they can build before the April deadline. Will Zillow make the decision to quietly display the increasingly outdated and inaccurate listings already in its database as it scrambles to add new data sources, and how will that affect agents who buy leads from Zillow? Judging from recent statements, this “data quality” sleight-of-hand game is exactly what will happen in the short term.

Schwartz alluded to Zillow’s push toward direct enrollment of MLSs and brokers in a recent statement: “As we enter a new year, we are cementing our commitment to be the best industry partner to the MLSs and brokers who send listings to Zillow.” This raises two more questions: Why didn’t Zillow pursue this strategy years ago? And are agents, brokers and MLS systems willing to give Zillow a second chance now that the company is in a position of need?

Second, Zillow isn’t the only company relying on ListHub for listing feed data — there are hundreds of other companies in the same position as Zillow, and many of them are also competitors to realtor.com. Listing portals like Trulia, Homes.com, Yahoo! Homes and many others use ListHub data to populate home search portals, generating buyer leads that directly compete with leads generated by Move subsidiary realtor.com. Zillow is the biggest competitor, but it’s not the only one — so will we see ListHub cut off more listing feeds to its smaller competitors over time as data agreements expire?

If that’s the case, then Rupert Murdoch may be single-handedly saving agents from a forced financial reliance on buyer leads. I say “forced” because when the top five Google search results are dominated by listing portals, it means that most online users won’t browse down to individual or brokerage websites like they did in the days before Zillow. While coaching organizations like ours teach numerous lead generation strategies that don’t rely on Internet leads, the fact remains that many agents who lack this education have felt pressured, coerced and even forced into spending hundreds of dollars a month on buyer leads.

With all this uncertainty in the industry, there is one thing we can say for sure: Learn to generate your own leads, and create multiple lead generation channels. The industry is changing rapidly, and the agents who will continue to succeed are the ones who remain flexible, educated and willing to invest time into developing lead generation expertise, not just investing money into buying leads.


Original Article at:  Is it the beginning of the end for Zillow?

By:   Tim Harris - Contributor

2015 housing market forecast robust

 San Antonio real estate continues boom

 

SAN ANTONIO - Many experts say the housing market is a great indicator of the economy -- if that's the case, 2015 should be a very impressive year all around.

"2015 (looks) to be fantastic,"  said San Antonio Board of Realtors Chair Mary Ann Jeffers. 
"Fantastic" is a word the housing industry has been aiming for since the recession plunge in 2008. As Jeffers explained, business has spiked and it should continue to stay that way, even through some recent changes.

"Our biggest issue is the inventory. We're still at 3.9 months of inventory," Jeffers said.

Plus, he said, price ranges have changed and are shooting up in some categories.

"The increases have been good, especially in the higher end, like our luxury homes," Jeffers said. "They've increased 26 percent over the last two years, so we're very happy about that."

The San Antonio Board of Realtors housing forecast convention brought in experts from all over the state and nation, but Jeffers emphasizes that real estate is local. San Antonio is one of the nation's most impressive markets right now.

"We keep having people come in every day because they want to live here. Our affordability, our market, everything, the job structure, we just have it right here," Jeffers said.

If you're looking to buy or sell, Jeffers says now is the time.

"Here in San Antonio, interest rates are still real low, the lowest they've ever been and I think it's going to continue to be that way throughout 2015," she said.

She says the key is, finding a good realtor who knows the market.


Original Article at:  2015 housing market forecast robust

By Courtney Friedman  VJ, Reporter

Why now might be a good time to buy a home

 Your fellow consumers' concerns might be your opportunity

Let's start by conceding that buying a house these days is a lot different than it used to be. Before the housing crash, you could be pretty confident that if you purchased property it would rather quickly appreciate in value.

It was looked at as an investment, a smart place to put your money. But a lot of people who purchased a home at the top of the market in 2007 owe a lot more on their mortgage than their homes are worth.

Today, people can still make money buying and selling real estate, but most home buyers have different motivations, even though a big one still has to do with money.

 

Owning vs. renting

In some markets the monthly cost of putting a roof over your head is significantly less owning rather than renting. Rents have skyrocketed over the last five years while mortgage rates remain near historic lows.

If you have been thinking about purchasing a home, the first half of 2015 might be a good time. One big reason is a new survey from Fannie Mae that shows consumer confidence in the housing market declined a bit in December.

But wait a minute, isn't that a reason to wait? Not really – that is, if you are sure that buying a home is the right decision for you. Because when you start shopping for a home, you want as little competition from other would-be buyers as possible.

 

Less competition

A lack of confidence in the housing market suggests fewer consumers are ready to take the plunge. With fewer buyers there is less upward pressure on prices. That's not great for sellers but it is for buyers.

"Despite consistent and robust job growth in recent months, consumer attitudes toward housing remained cautious in the final month of 2014," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "Our survey results show that consumer housing sentiment has, on average, been moving sideways amid some improvement in the general view of the economy.”

Duncan says it's no surprise that the housing sector continues to lag behind the rest of the economy. Committing to a 30-year mortgage, he says, seems a bigger deal than it once did.

“Many prospective home buyers want to be certain that their personal finances can withstand potential downside risks to the economy," he said.

True, but you have to live somewhere. If you feel secure in your job and plan to remain in the area for several years, you can actually save thousands of dollars owning instead of renting.

 

Monthly cash flow

Glenn and Brenda, a couple in Richmond, Va., rent a 2-bedroom apartment for $1,250 a month and struggle to make ends meet each month. With a 5% down payment provided by their families, they are purchasing a completely renovated 1,000 square foot home for $130,000, with a total monthly payment of less than $800 a month.

One thing holding back home sales since the crash has been the difficulty of securing a mortgage. But now that the government has finalized new lending guidelines, it may be a little easier to finance a home. At least, that's a widely-held belief.

"One notable result in the December survey is that the share of consumers believing that it would be easy to get a mortgage exceeds those saying it would be more difficult to get a mortgage by the widest amount in the survey's history," said Duncan.

While Duncan says that's a welcome signal, he notes softness in consumer attitudes that drive housing demand will make for a subdued housing recovery.

For consumers who have thought it through and decided they want to buy a home, that could make for a very attractive environment.


Original Article at:  Why now might be a good time to buy a home

By Mark Huffman  
01/08/2015

Obama to Cut FHA Mortgage Insurance Premiums to Boost Homeownership

In an effort to expand homeownership among lower-income buyers, President Barack Obama plans to cut mortgage-insurance premiums charged by a government agency.

The annual fees the Federal Housing Administration charges to guarantee mortgages will be cut by 0.5 percentage point, to 0.85 percent of the loan balance, Julian Castro, secretary of the Department of Housing and Urban Development, said today during a conference call with reporters. Under the new premium structure, FHA estimates that 2 million borrowers will be able to save an average of $900 annually over the next three years if they purchase or refinance homes.

Shares of private insurers that compete with the FHA fell on the news, which Obama plans to discuss during a visit to Phoenix tomorrow.

“We believe this is striking a very good balance between being fiscally responsible and also enhancing homeownership opportunities,” Castro said.

‘Locked Out of Market’

The FHA has been increasing premiums since 2011 to offset losses caused by defaults on mortgages it backed after the housing bubble burst. Housing industry participants say the increases in annual fees, which are now at 1.35 percent of the loan balance, are squeezing buyers with modest incomes out of the market.

“Lots of people have been locked out of the market, particularly lower-wealth borrowers and borrowers of color, by the high prices at FHA,” said Julia Gordon, director of housing finance and policy at the Center for American Progress, a group affiliated with Democrats. The premium cut “does put homeownership within the reach of more people.”

The FHA estimates that 250,000 first-time homebuyers will enter the market after the premium reductions.

In addition to its annual premiums, the FHA also charges borrowers an upfront fee, which is currently set at 1.75 percent of the loan balance and is not slated to change.

‘Broken FHA’

Democrats and housing groups say reducing FHA fees will help the agency’s bottom line because it will boost the volume of lending, which declined when homebuyers had to pay more to obtain loans.
 A December study by the Mortgage Bankers Association said the premium increases had reduced the value of the insurance fund by $4.4 billion as higher costs drove away creditworthy borrowers.

Republicans have said premium cuts should be off the table because the agency’s insurance fund remains below legally required levels. House Financial Services Committee Chairman Jeb Hensarling said last month that “a broke FHA is a broken FHA.”

“This sounds like a move in the wrong direction,” said Mark Calabria, director of financial regulation studies at the Cato Institute, which supports free markets. “FHA has a portfolio of poor quality loans. This will end up costing the taxpayer considerably.”

The agency is required to keep enough cash on hand to cover all projected losses in its $1.1 trillion portfolio. The insurance fund required a $1.7 billion draw from the Treasury Department last year. In fiscal 2014, the fund posted its first positive balance in two years.

Shares Slide

The fund must also maintain a cushion of 2 percent of its value, a level it isn’t projected to reach until fiscal 2016.

Castro, who is scheduled to accompany Obama to Phoenix, said the fee cut would have a “marginal” impact on the insurance fund.

Radian (RDN) Group Inc., which sells insurance to homebuyers, slid 5.5 percent to $15.62 at 1:53 p.m. in New York trading. MGIC Investment Corp. (MTG) slumped 4.7 percent percent and Essent Group Ltd. (ESNT) fell 9.4 percent.

Radian climbed 18 percent last year after more than doubling in both 2012 and 2013 and had said it benefited as private companies gained market share from the government.

Mortgage insurance helps cover losses when homeowners default and foreclosures fail to recoup costs. The coverage is typically required when borrowers’ down payments are less than 20 percent of a home’s price.

The FHA had a 30 percent share of the mortgage insurance market in the third quarter of last year, down from about 69 percent in 2009, according to data from Inside Mortgage Finance. Private firms wrote 42 percent of the coverage in last year’s third quarter, and a government program for veterans accounted for most of the remainder.

Some Ginnie Mae-guaranteed securities backed by FHA loans also declined on concern that more borrowers will find it worthwhile to refinance, repaying debt that’s trading at higher prices at face value. Bonds with 3 percent coupons fell by 0.15 cent on the dollar more than similar-duration Treasuries as of 11 a.m. in New York, according to data compiled by Bloomberg, after typically outperforming government debt when bond prices have dropped in recent months.



To contact the reporters on this story: Clea Benson in Washington at cbenson20@bloomberg.net; Jonathan Allen in Washington at jallen149@bloomberg.net

To contact the editors responsible for this story: Jesse Westbrook at jwestbrook1@bloomberg.net Gregory Mott 


 Original Article at:  Obama to Cut FHA Mortgage Insurance Premiums to Boost Homeownership

 By Clea Benson and Jonathan Allen Jan 7, 2015 1:00 PM CT

Resolve to Buy a Home With These 10 Must-Do Steps

If you think the new year is going to be the year to put your rental days in your rear-view mirror and move into a home of your own, it’s time to start preparing.

Even if you won’t be ready to buy for six more months or even a year, here are 10 straightforward steps to take right now. Crossing these items off your list will make it easier for you to find and finance the home of your dreams.

1. Check your credit
Go to annualcreditreport.com and request free credit reports from all three credit reporting bureaus: TransUnion, Equifax and Experian. For a small fee, you can also get your credit score.

First up, check the reports thoroughly for any errors that need correcting and any negative information.

These reports should also indicate what you can do to improve your credit. A higher credit score makes it easier to qualify for the lowest interest rates, which in turn make your purchase more affordable.

2. Start saving
One trick is to save the difference between your rent and what you estimate your mortgage payment will be—or more. You’ll need cash reserves to buy a home, and you’ll need to prove to a lender that you can afford housing payments that may be higher than what you’re currently paying in rent.

3. Earn extra cash
If you’re low on cash, as most first-time buyers are, consider taking drastic steps to cut spending. Or try out some ways to increase your income, such as selling some of your stuff or taking a part-time job.

4. Start looking at neighborhoods
Unless you already know where you want to live, take the time to visit a variety of potential neighborhoods. You’ll want to scout out ‘hoods that meet your needs in terms of transportation options and other amenities. Exploring different locations will help you narrow your priorities.

5. Consult a lender
The sooner you visit a lender, the quicker you’ll know what you can afford and the steps you need to take to improve your credit or generate more income.

6. Investigate down payment assistance programs
Visit Down Payment Resource to learn about programs in your area that may help you find down payment money or a low-interest loan.

7. Attend a seminar or take classes on buying a home
Lenders and agents often offer free seminars that explain the home-buying process.
Many local government and nonprofit agencies also offer classes that can help you prepare for the financial responsibility of owning a home.

8. Decide how much you want to spend
A lender can give you an idea of how much you can borrow, but you have to create a personal budget to decide how much you will be comfortable spending on your mortgage payment.

9. Visit open houses
Try to avoid walking through homes you simply can’t afford—you don’t want to fall in love with something and then be dissatisfied with all other options.

Going to open houses early in your search will let you see what’s available in your area that might fit your budget. You can then begin to see what matters most in your decision: the location, room to entertain or outdoor space.

10. Interview REALTORS®
At each open house you’ll meet a REALTOR® who represents the seller of the home. As long as you don’t plan to make an offer on that particular home, there’s nothing wrong with striking up a conversation with the REALTOR® regarding your plans for buying a home. It’s a good idea to talk with and interview multiple REALTORS® to find one you can trust to have your best interests in mind.


Original Article at:  Resolve to Buy a Home With These 10 Must-Do Steps

By: Michele Lerner

10 Best-Kept Secrets for Selling Your Home

Tricks of the trade to help you get top dollar when selling your home.

Selling Secret #10: Pricing it right
Find out what your home is worth, then shave 15 to 20 percent off the price. You’ll be stampeded by buyers with multiple bids — even in the worst markets — and they’ll bid up the price over what it’s worth. It takes real courage and most sellers just don’t want to risk it, but it’s the single best strategy to sell a home in today’s market.

Selling Secret #9: Half-empty closets
Storage is something every buyer is looking for and can never have enough of. Take half the stuff out of your closets then neatly organize what’s left in there. Buyers will snoop, so be sure to keep all your closets and cabinets clean and tidy.

Selling Secret #8: Light it up
Maximize the light in your home. After location, good light is the one thing that every buyer cites that they want in a home. Take down the drapes, clean the windows, change the lampshades, increase the wattage of your light bulbs and cut the bushes outside to let in sunshine. Do what you have to do make your house bright and cheery – it will make it more sellable.

Selling Secret #7: Play the agent field
A secret sale killer is hiring the wrong broker. Make sure you have a broker who is totally informed. They must constantly monitor the multiple listing service (MLS), know what properties are going on the market and know the comps in your neighborhood. Find a broker who embraces technology – a tech-savvy one has many tools to get your house sold.

Selling Secret #6: Conceal the critters
You might think a cuddly dog would warm the hearts of potential buyers, but you’d be wrong. Not everybody is a dog- or cat-lover. Buyers don’t want to walk in your home and see a bowl full of dog food, smell the kitty litter box or have tufts of pet hair stuck to their clothes. It will give buyers the impression that your house is not clean. If you’re planning an open house, send the critters to a pet hotel for the day.

Selling Secret #5: Don’t over-upgrade
Quick fixes before selling always pay off. Mammoth makeovers, not so much. You probably won’t get your money back if you do a huge improvement project before you put your house on the market. Instead, do updates that will pay off and get you top dollar. Get a new fresh coat of paint on the walls. Clean the curtains or go buy some inexpensive new ones. Replace door handles, cabinet hardware, make sure closet doors are on track, fix leaky faucets and clean the grout.

Selling Secret #4: Take the home out of your house
One of the most important things to do when selling your house is to de-personalize it. The more personal stuff in your house, the less potential buyers can imagine themselves living there. Get rid of a third of your stuff – put it in storage. This includes family photos, memorabilia collections and personal keepsakes. Consider hiring a home stager to maximize the full potential of your home. Staging simply means arranging your furniture to best showcase the floor plan and maximize the use of space.

Selling Secret #3: The kitchen comes first
You’re not actually selling your house, you’re selling your kitchen – that’s how important it is. The benefits of remodeling your kitchen are endless, and the best part of it is that you’ll probably get 85% of your money back. It may be a few thousand dollars to replace countertops where a buyer may knock $10,000 off the asking price if your kitchen looks dated. The fastest, most inexpensive kitchen updates include painting and new cabinet hardware. Use a neutral-color paint so you can present buyers with a blank canvas where they can start envisioning their own style. If you have a little money to spend, buy one fancy stainless steel appliance. Why one? Because when people see one high-end appliance they think all the rest are expensive too and it updates the kitchen.

Selling Secret #2: Always be ready to show
Your house needs to be "show-ready" at all times – you never know when your buyer is going to walk through the door. You have to be available whenever they want to come see the place and it has to be in tip-top shape. Don’t leave dishes in the sink, keep the dishwasher cleaned out, the bathrooms sparkling and make sure there are no dust bunnies in the corners. It’s a little inconvenient, but it will get your house sold.

Selling Secret #1: The first impression is the only impression
No matter how good the interior of your home looks, buyers have already judged your home before they walk through the door. You never have a second chance to make a first impression. It’s important to make people feel warm, welcome and safe as they approach the house. Spruce up your home’s exterior with inexpensive shrubs and brightly colored flowers. You can typically get a 100-percent return on the money you put into your home’s curb appeal. Entryways are also important. You use it as a utility space for your coat and keys. But, when you’re selling, make it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies.


Original Article at:  10 Best-Kept Secrets for Selling Your Home

Fed Stays Patient, but Mortgage Rates Already Moving

It’s been a dramatic week in global economic and financial market news, but the net effect has been good for the U.S. economy.

The price of oil fell beneath $60 a barrel and triggered sharp declines in the ruble, the Russian currency. Meanwhile, the stock market reacted negatively to the global concerns, with the major indexes declining on Monday and Tuesday.

Then the Federal Reserve issued its formal statement on policy on Wednesday. Observers noted a subtle change in language that seemed to signal that it would raise the target funds rate in the not-too distant future. This turned the stock market from fear to jubilation as the major indexes more than reversed their prior declines.

While there is some debate as to when the Federal Reserve will increase the target funds rate in 2015, its formal policy announcement made it clear that an increase will eventually occur as more economic growth becomes evident.

Holiday Bonus: Lower Energy Costs

The Fed is watching the rate of growth in GDP, employment, wages and rents for clear evidence that concern over growth should give way to concern about inflation. The biggest risk to growth will be any further declines in the lingering global economic situation.
As of now, the global distress seems to be delivering changes that are net positives for the U.S. economy and housing demand—namely, substantially lower energy costs and a short-term final reprieve from inevitably higher mortgage rates.

Most economists see improving economic fundamentals ahead, with even stronger performance expected on GDP growth and job creation. With that growth, we should start to see upward pressure on wages and continued escalation of rents as more households form.
The result of higher wages and higher rents will stoke higher prices other than energy. The price of oil is likely to stabilize and increase in 2015, but whether Europe and Asia start to see economic improvements remains a bigger question.

Upward Trend for Mortgages

The last time we faced somewhat similar circumstances was in 1998. As the U.S. economy grew stronger, the price of oil collapsed—and so did Russian and Asian economies. Mortgage rates declined that fall and winter, as the Fed lowered its target rate in response to the global concerns. By the spring of 1999, mortgage rates were on the way up again.

The most curious trend that few have noticed this week is that mortgage rates are already moving up. Before the Fed issued the new policy language on Wednesday, we started seeing the daily mortgage offers on realtor.com® moving up: As of Thursday, shorter-term mortgage products like 5/1 hybrid ARM conforming loans were up almost 35 basis points from where they started the week. Even the average 30 year conforming mortgage had increased more than 28 basis points over the course of the week.

The Fed may be patient, but the market is already moving in anticipation of a much stronger 2015.


Original Article at:  Fed Stays Patient, but Mortgage Rates Already Moving

By:  Jonathan Smoke

San Antonio is one of eight cities setting new home price records

The Wall Street Journal reported this morning that San Antonio is one of eight metropolitan areas that is setting new home price records following the 2006-2008 housing price peak.

According to research from the real estate data firm Black Knight Financial Services, San Antonio's housing prices grew 8 percent from its 2006-2008 peak. Dallas reported a 12 percent growth, while Houston reported 17 percent and Austin topped the list at 18 percent.

The numbers are impressive considering nationwide, home prices are down 10.2 percent from the country's June 2006 peak. Part of the reason Texas boasts such strong numbers is because the state didn't suffer as much during the housing bubble burst and subsequent economic recession. Home prices in Texas remained relatively stable compared to other parts of the country during that time.

Cities such as Riverside, Calif., on the other hand, have had to climb out of deep holes. Home prices in Riverside are still nearly 32 percent below their June 2006 level.

Texas cities are also seeing an additional bump in their numbers because of the oil boom, which has led to more construction and people moving into the state.

Several other markets have reported new housing price records. They include Nashville, Honolulu, San Jose and Denver.



Original Article at:  San Antonio is one of eight cities setting new home price records

By:  Stephanie Guzman, Reporter- San Antonio Business Journal
Dec 30, 2014, 3:00pm CST

Military vets who fail to look into government programs could be leaving money on the table when they purchase a home, according to a new article published by the Los Angeles Times.

Loans guaranteed by the Department of Veterans Affairs potentially offer big savings, and can be a way for qualified military personnel to break into home ownership since they often don’t require a down payment. In the majority of places, vets can borrow up to $144,000 without making any down payment on their home purchase. The limit stretches higher in some places. For example, in Sacramento, Calif. the maximum that can be borrowed is $827,500, and it's $546,250 in San Diego.

For buyers who do have to go above the limits, lenders typically require a down payment of $1 for every $4 borrowed over the limit. In other words, the Los Angeles Times article notes: If a vet is borrowing $200,000, he or she will most likely need $14,000 as a down payment in most markets.

The fear of paperwork may scare off some potential buyers who are eligible for VA loans. But, according to data from the Veterans Association of Real Estate Professionals, VA loans close up to two days faster than conventional mortgages.

The VA loan program is among the fastest-growing sectors in the mortgage market, according to Inside Mortgage Finance. The VA department owned nearly 25 percent of the primary insured-loan market, which outpaces the Federal Housing Administration. What’s more, the vet population is huge: Nearly 12 percent of 16.4 million active-duty service members and military vets with a mortgage have a VA loan, according to data from the National Association of REALTORS®.
Several states and local governments also offer vets assistance on home purchases. For example, the California Housing Finance Agency has a tax credit program that reduces buyer's federal taxes, which thereby creates extra income to use toward the monthly house payment. In Arizona, compensation received by service members who are on active duty any month of the year is exempt from income taxes on those months' income. Arizona also offers a property tax exemption for widows and widowers of vets, as well as disabled persons. Also, some counties offer special savings to vets too. For example, in San Diego, qualifying military personnel may be eligible for rehab loans to help pay for fixes to existing properties.  Military.com offers a state breakdown of financing options for veterans.

Tony Landaverde, Realtor - Veteran Land Board Certified Real Estate Agent


Original Article at:  Are Vets Missing Out on Home Ownership?

Daily Real Estate News | Monday, December 29, 2014

Mortgage Rates Are Expected to Climb to 5.4% by Late 2015

NEW YORK ( TheStreet) - Buying a home is about to become more expensive.

Rates on 30-year fixed mortgages are expected to rise to 5.4% by the end of 2015, predicts the National Association of Realtors. That's up from about 3.8% now, according to Freddie Mac.

"The Federal Reserve will certainly be raising their Fed funds rate at some time during the middle of next year," said Lawrence Yun, chief economist at the National Association of Realtors, in an interview with TheStreet. "But the long-term rates like mortgage rates will be rising in anticipation of that so the long-term bond investor will be taking cues about when the Fed will raise short-term rates."

The 10-year Treasury yields nearly 2.2% currently, compared to almost 3% at this time last year. Mortgage rates tend to move in tandem with the 10-year bonds.

It's not surprising that Yun forecasts the 10-year Treasury notes to reach 3.7% by the fourth quarter of next year.


Original Article at:  Mortgage Rates Are Expected to Climb to 5.4% by Late 2015

 By:  Scott Gamm 12/23/14 - 7:15 AM EST

Not long ago, FHA home loans were something of a niche product that appealed mostly to low-income buyers. But when the housing bubble burst in 2008, the federal program suddenly became a common way to finance property.   

Even today, FHA mortgages can be appealing to those who don’t qualify for conventional home loans. Certainly, there are some big pluses, including the ability to buy a house with very little money down. But be careful: Recent changes have made these loans more expensive than ever.

Here’s what you need to know if you don’t fit the ideal credit profile for most banks and are considering one of these loans.

1. The Government Isn’t the Lender

Despite the name, you don’t get an FHA loan from the Federal Housing Administration. Rather, the agency insures loans that are made by a private lender. In other words, if you take out a mortgage and fall behind on your payments, the FHA will reimburse the bank or mortgage company for its losses.
To do that, it charges the homeowner both an upfront and an annual mortgage premium. Because of this added layer of protection, FHA-approved lenders are able to extend financing to customers who don’t qualify for conventional loans.  Keep in mind that not all loan originators provide FHA loans. To find a list of approved lenders, you can search on the U.S. Department of Housing and Urban Development website.

2. They’re Versatile
One of the misconceptions about FHA mortgages is that they’re only suitable for a small percentage of homebuyers. In fact, you can use these loans for a fairly wide range of needs, including home purchases and refinancing. You can also choose between fixed and adjustable-rate mortgages, or ARMs.

Nor can borrowers only tap FHA loans for modest homes. In more expensive parts of the country, you can borrow up to $625,500 for a single-family home – and even more for multi-family units.

3. Down Payments Are Lower

When the housing market took a turn a few years back, the days of zero-down mortgages disappeared virtually overnight. But don’t think this means you need to put down 20% of the purchase price to buy a home. With an FHA mortgage, many individuals and families can purchase a house or condo with as little as 3.5% down. 

4. You Don’t Need Perfect Credit
One of the more common reasons why applicants can’t get a traditional mortgage is because of a damaged credit score. The FHA program is considerably more forgiving.  With a credit score of 580 or above, borrowers can typically qualify for a mortgage and benefit from the 3.5% down payment requirement. You might be able to get a loan if your score is even lower, though you might have to put down 10% or more of the home’s value.  Another big difference with FHA loans is that you can often qualify even if you have filed for bankruptcy or undergone a foreclosure within the past few years. But first, you’ll need to re-establish your credit and meet other program requirements.

5. Loans Can Cover Renovations
Interested in a home that needs a little work? With a special product known as an FHA 203(k) loan, the cost of certain repairs and renovations are built into the loan. That can make a big difference if you don’t have a lot of cash on hand after making your down payment.

The FHA’s Energy Efficient Mortgage program is a similar concept, but aimed at upgrades that lower the utility bill. The cost of newer, more efficient appliances, for example, becomes part of the loan.

6. You May Get Help With Closing Costs
When you buy a home, you may be responsible for certain out-of-pocket expenses such as loan origination fees, attorney fees and appraisal costs. One of the advantages of an FHA mortgage is that the seller, home builder or lender is allowed to pay some of these closing costs on your behalf. If the seller is having a hard time finding a buyer, he or she might just offer to help you out at closing time as a deal sweetener.

7. PMI Might Be Cheaper

While there are many perks in the FHA program, the obvious drawback is the requirement to pay mortgage premiums for mortgage insurance on the loan. In recent years, the government has gradually hiked the amount homeowners have to pay, which can make these loans considerably more expensive than conventional loans.

These days, borrowers face an upfront premium of 1.75% and an annual premium that, in many cases, will represent 1.35% of the loan amount. For a 30-year loan worth $200,000, that means you could pay $3,500 in upfront costs and another $2,700 each year to cover the insurance.

Because of the premium spikes, some experts suggest that a conventional loan with private mortgage insurance, or PMI, is now a less expensive option for most home buyers who need to have it (a down payment of less than 20% usually triggers the mortgage insurance requirement). The annual costs of PMI are typically between 0.3% and 1.15% of the loan – and there’s no upfront fee.

Original Article at:  7 things to know about FHA home loans

By Daniel Kurt December 23, 2014 4:20 PM