by Broderick Perkins of Realty Times
Greening up your home can come with energy savings, a value boost, tax benefits and a smaller carbon footprint.
Not only do you and your household's bottom line benefit from green home improvements, so does the planet.
Unless the work is quality work, however, you may not get the personal financial benefits you seek, nor the pinch of planet cooling the Earth could use.
Click here for more tips on building green.
18 March 2007
U.S. mortgage reset may boost foreclosures
By Ilaina Jonas
NEW YORK, March 19 (Reuters) - About 1.1 million additional home foreclosures are expected over the next six years as adjustable-rate mortgages -- which made home buying more affordable to U.S. buyers in recent years -- reset to higher payments, according to a study by research firm First American CoreLogic.
The expected $112 billion in losses won't break the mortgage industry but will inflict pain on lenders and borrowers affected by the defaults, said the study, released on Monday.
"It's less than we spend on alcohol. It's less than we spend on the lottery and gambling," said Christopher Cagan, director of research and analytics, and author of the report Mortgage Payment Reset, The Issue and the Impact.
"The price of gasoline has far more impact. We have $60 billion a month in trade deficit that dwarfs this," he added.
Click to see the entire article.
NEW YORK, March 19 (Reuters) - About 1.1 million additional home foreclosures are expected over the next six years as adjustable-rate mortgages -- which made home buying more affordable to U.S. buyers in recent years -- reset to higher payments, according to a study by research firm First American CoreLogic.
The expected $112 billion in losses won't break the mortgage industry but will inflict pain on lenders and borrowers affected by the defaults, said the study, released on Monday.
"It's less than we spend on alcohol. It's less than we spend on the lottery and gambling," said Christopher Cagan, director of research and analytics, and author of the report Mortgage Payment Reset, The Issue and the Impact.
"The price of gasoline has far more impact. We have $60 billion a month in trade deficit that dwarfs this," he added.
Click to see the entire article.
04 March 2007
New Stability Takes Hold
Last year’s correction in housing markets was sorely needed after five years of a booming expansion. But now there are signs that the correction is behind us and a year of stability lies ahead.
A quick recap: By the end of 2005, home prices were inflated, and property investors and speculators were ubiquitous, pushing to the sidelines home buyers who couldn’t afford lofty prices in boom regions. Some households also postponed buying because they believed prices would eventually drop. Then property speculators fled, dumping inventories. And home owners looking to sell remained stubbornly wedded to their listing prices.
The sky never fell in 2006. There were no bursting bubbles. But air came out of some over inflated balloons those markets that experienced frothy appreciation. Final 2006 figures show existing-home sales down 8.4 percent for the year, new-home sales down 17.3 percent, and housing starts down 12.9 percent.
This year will be better. Home sales appear to have bottomed out, reaching a cyclical low in September 2006. Since then, home sales have been inching up, albeit modestly. Inventories have stabilized, with the national months’ supply hovering around 7.3 months since July 2006.
For the entire Realtor.org article, click here.
A quick recap: By the end of 2005, home prices were inflated, and property investors and speculators were ubiquitous, pushing to the sidelines home buyers who couldn’t afford lofty prices in boom regions. Some households also postponed buying because they believed prices would eventually drop. Then property speculators fled, dumping inventories. And home owners looking to sell remained stubbornly wedded to their listing prices.
The sky never fell in 2006. There were no bursting bubbles. But air came out of some over inflated balloons those markets that experienced frothy appreciation. Final 2006 figures show existing-home sales down 8.4 percent for the year, new-home sales down 17.3 percent, and housing starts down 12.9 percent.
This year will be better. Home sales appear to have bottomed out, reaching a cyclical low in September 2006. Since then, home sales have been inching up, albeit modestly. Inventories have stabilized, with the national months’ supply hovering around 7.3 months since July 2006.
For the entire Realtor.org article, click here.
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