Real Estate Blogs Of The Carolina's

August 3, 2010 Conventional 30-Year Fixed 4.25% Conventional 15-Year Fixed 3.75% Conventional 5/1 ARM 3.00% JUMBO 30-Year Fixed ($417,001 - $750,000) 5.00% 5/1 ARM (JUMBO ~ $417,001 - $750,000) 3.875% FHA & VA 30 YEAR FIXED 4.25%

IRC regulations for §1031 Exchanges place strict limits on the number of properties that may be identified as replacement properties. There are three rules that may be applied, which are independent of each other so the Taxpayer may choose the rule that best applies to the circumstances.  The Three-Property Rule – Identify three replacement properties without regard to the fair market value of the properties. You may identify up to three properties, but are only required to purchase one.  The 200% Rule – Identify any number of properties (more than 3) so long as their aggregate fair market value does not exceed 200% of the fair market value of the relinquished property.  The 95% Rule – Identify any number of properties (more than 3) without regard to their aggregate fair market value so long as the taxpayer received identified replacement properties constituting at least 95% of the aggregate fair market value of all identified replacement properties by the 180th day. Written identif...

Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week, down from 4.75 percent a week ago, reports Freddie Mac. Although rates have held below 5 percent since early May, Michael Fratantoni of the Mortgage Bankers Association notes that demand for purchase loans has fallen in six of the past seven weeks and now is at a 13-year low. Consumers have grown used to low rates, he explains, adding that they balk at buying because they are more concerned about stagnant wages and high unemployment. Source: Washington Post, Dina ElBoghdady

The time to buy is right now, interest rates is at a historic low. That means that if you are wanting to finance a home, your monthly payment will be at an historic low. Example if you were to finance a $100,000 single family home with a credit score of 620 or better you may qualify for a interest rate of 5% or below. Your monthly payment will be only $536.82 at 5% interest rate. This is for a three bedroom, 2.5 Bath 2 story house. This is why we should buy vs renting. Stop throwing your money away on rent invest in you future today.

The U.S. Senate voted Wednesday to extend the home buyer tax credit closing deadline to Sept. 30, giving an estimated 180,000 buyers who met the contract deadline of April 30 extra time to close the transaction.

The key to home ownership is, number one: Keeping your credit current, knowing whats on your credit. Go to annualcreditreport.com for a free credit report from the top 3 credit companies. This will also explain how to read each credit report. Knowledge is power. You can also follow my Blog AT http:www.jamieyoung1964.blogspot.com or my website www.JamieYoung.Info for more helpful information.

Tricks to Keep Your House Cool this Summer By Paige Tepping RISMEDIA, June 17, 2010--As the temperatures continue to rise this summer, so does the cost of keeping your home cool. While homeowners across the country come to depend on air conditioners to keep the temperature down during the warm summer months, there are other options that will keep you cool while keeping your energy bill low. Fans and ceiling fans -If you’re looking for ways to beat the heat, a ceiling fan can be a great investment for your home. This one appliance can make a room feel 6 or 7 degrees cooler, and even the most power-hungry fan costs less than $10 a month to use if you keep it on for 12 hours a day. Good fans make it possible for you to raise your thermostat setting and save on air-conditioning costs. Fans don’t use much energy, but when air is circulating, it feels much cooler. Ceiling fans are best, but a good portable fan can be very effective as well. -You should remember that even mild air movement of...