What Would You Do With $8,000?
What if the government decided today that, instead of bailing out Wall Street, it was going to give every American $8,000? What would you do with the money?
For most Americans, paying off credit card debt would be a great way to use the free money. According to a Nilson Report released in April 2009, the average credit card debt per household in the US was $8,329 at the end of 2008. That money from the government would almost wipe out your debt completely. Imagine being completely debt free.
Healthcare is a big topic these days. According to the most current Census Bureau statistics, some 45.7 million Americans do not have health insurance. So, many Americans might choose to use their $8,000 to enroll their family in a healthcare program through their employer. The federal government tracks the average spending on health insurance for people with job-based coverage, and the most recent figures (from 2005!) indicate that the average individual's premiums were $3,991, while families spent an average of $10,728. Your $8,000 would go a long way in insuring your family.
Some Americans might choose to start a small business. Experts estimate that start-up costs for many new business ventures are between $10,000 - $15,000. With $8,000, a large portion of your initial investment would be covered.
If you really think about it, there are so many things you could do with $8,000. You could open a 529 college savings plan. You could add your 8 grand to the government's $4,500 Cash for Clunkers plan and buy a new car. You could take your family on an amazing once-in-a-lifetime vacation. You could open an IRA and save for retirement...
But what's the point in dreaming. The government's not giving away $8,000, right?
Wrong.
Right now, through November 30th of this year only, the government is giving qualifying first-time home buyers up to $8,000 for purchasing a home (or up to 10% of the purchase price). This is free money that you do not have to pay back. And here's the best part: if you qualify, you can get your money from the IRS this year, even if you've already filed your 2008 taxes.
There are, of course, limitations and other qualifying factors, but they are all pretty reasonable and easy to explain, and we'll be glad to discuss these with you or anyone you know who is looking to buy a home. With today's combination of lower home prices and lower interest rates, this temporary incentive from the government is really a great option for many Americans who act now to finally fulfill their dreams of owning a home.
Friday, August 21, 2009
Thursday, August 20, 2009
Tax-Free Weekend
Tax-Free Weekend
We are a week away from the back to school bell, and this weekend we will all be scrambling to get those last minute items. Shoppers can get a break this weekend from sales tax with the states annual tax holiday beginning Friday and extending through Sunday. This saves shoppers about $8 for every $100 spend. New items added to the list this year are backpacks, and most school supplies, that include binders, folders, lunch boxes, pens, pencils calculators, book bags and much more.
For more detailed information click on the link below
Texas Tax Holiday Official Page
We are a week away from the back to school bell, and this weekend we will all be scrambling to get those last minute items. Shoppers can get a break this weekend from sales tax with the states annual tax holiday beginning Friday and extending through Sunday. This saves shoppers about $8 for every $100 spend. New items added to the list this year are backpacks, and most school supplies, that include binders, folders, lunch boxes, pens, pencils calculators, book bags and much more.
For more detailed information click on the link below
Texas Tax Holiday Official Page
Tuesday, August 4, 2009
Pending Home Sales up for Fifth Consecutive Month
Pending Home Sales up for Fifth Consecutive Month
RISMEDIA, August 5, 2009-Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 3.6% to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7% above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003.
Lawrence Yun, NAR chief economist, said a combination of positive market factors is fueling the gains. “Historically low mortgage interest rates, affordable home prices and large selection are encouraging buyers who’ve been on the sidelines. Activity has been consistently much stronger for lower priced homes,” he said. ”Because it may take as long as two months to close on a home after signing a contract, first-time buyers must act fairly soon to take advantage of the $8,000 tax credit because they must close on the sale by November 30.”
The Pending Home Sales Index in the Northeast rose 0.4% to 81.2 in June and is 5.8% above a year ago. In the Midwest the index increased 0.8% to 89.9 and is 11.6% above June 2008. The index in the South jumped 7.1% to 100.7 in June and is 8.9% higher than a year ago. In the West the index rose 2.9% to 100.4 but is 0.2% below June 2008.
NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, is hopeful that a recently elevated level of contract cancellations will ease. “Last month, Freddie Mac and Fannie Mae clarified that appraisals should be done by professionals with clear local expertise,” he said. “This should mitigate the situation of many valuations done by out-of-area appraisers coming in below the price negotiated between buyers and sellers. Hopefully, in the months ahead, we’ll see an even closer relationship between contract activity and closed transactions.” McMillan said NAR is continuing to press the appraisal issue. “We have asked Congress and the Federal Housing Finance Agency to immediately implement an 18-month moratorium on the new appraisal rules to further address unintended consequences of the new guidelines,” he said.
NAR’s Housing Affordability Index (HAI) remains very favorable. The affordability index stood at 159.2 in July, down from record peaks in recent months but it remains 36.6 percentage points above a year ago. Under these conditions the typical family would devote 15.7% of gross income to mortgage principal and interest, well below the standard allowance of 25%. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.
“A monthly rise in home prices and somewhat higher mortgage interest rates led to a modest decline in affordability in June, but it was still the sixth highest index on record dating back to 1970,” Yun said. “Because housing is so affordable in today’s market, job security and the first-time buyer tax credit are bigger factors in influencing home sales.”
A median-income family, earning $60,700, could afford a home costing $289,100 in June with a 20% downpayment, assuming 25% of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small downpayments are roughly 80% of what a median-income family can afford. The affordable price was much higher than the median existing single-family home price in June, which was $181,600.
Yun expects existing-home sales to gradually rise over the balance of the year, with conditions varying around the country. “It appears home sales are on a sounder footing and inventory is gradually being absorbed.”
For more information, visit www.realtor.org.
Read more: http://rismedia.com/2009-08-04/pending-home-sales-up-for-fifth-consecutive-month/#ixzz0NFTbnzEY
RISMEDIA, August 5, 2009-Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of Realtors®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 3.6% to 94.6 from an upwardly revised reading of 91.3 in May, and is 6.7% above June 2008 when it was 88.7. The last time there were five consecutive monthly gains was in July 2003.
Lawrence Yun, NAR chief economist, said a combination of positive market factors is fueling the gains. “Historically low mortgage interest rates, affordable home prices and large selection are encouraging buyers who’ve been on the sidelines. Activity has been consistently much stronger for lower priced homes,” he said. ”Because it may take as long as two months to close on a home after signing a contract, first-time buyers must act fairly soon to take advantage of the $8,000 tax credit because they must close on the sale by November 30.”
The Pending Home Sales Index in the Northeast rose 0.4% to 81.2 in June and is 5.8% above a year ago. In the Midwest the index increased 0.8% to 89.9 and is 11.6% above June 2008. The index in the South jumped 7.1% to 100.7 in June and is 8.9% higher than a year ago. In the West the index rose 2.9% to 100.4 but is 0.2% below June 2008.
NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, is hopeful that a recently elevated level of contract cancellations will ease. “Last month, Freddie Mac and Fannie Mae clarified that appraisals should be done by professionals with clear local expertise,” he said. “This should mitigate the situation of many valuations done by out-of-area appraisers coming in below the price negotiated between buyers and sellers. Hopefully, in the months ahead, we’ll see an even closer relationship between contract activity and closed transactions.” McMillan said NAR is continuing to press the appraisal issue. “We have asked Congress and the Federal Housing Finance Agency to immediately implement an 18-month moratorium on the new appraisal rules to further address unintended consequences of the new guidelines,” he said.
NAR’s Housing Affordability Index (HAI) remains very favorable. The affordability index stood at 159.2 in July, down from record peaks in recent months but it remains 36.6 percentage points above a year ago. Under these conditions the typical family would devote 15.7% of gross income to mortgage principal and interest, well below the standard allowance of 25%. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income.
“A monthly rise in home prices and somewhat higher mortgage interest rates led to a modest decline in affordability in June, but it was still the sixth highest index on record dating back to 1970,” Yun said. “Because housing is so affordable in today’s market, job security and the first-time buyer tax credit are bigger factors in influencing home sales.”
A median-income family, earning $60,700, could afford a home costing $289,100 in June with a 20% downpayment, assuming 25% of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small downpayments are roughly 80% of what a median-income family can afford. The affordable price was much higher than the median existing single-family home price in June, which was $181,600.
Yun expects existing-home sales to gradually rise over the balance of the year, with conditions varying around the country. “It appears home sales are on a sounder footing and inventory is gradually being absorbed.”
For more information, visit www.realtor.org.
Read more: http://rismedia.com/2009-08-04/pending-home-sales-up-for-fifth-consecutive-month/#ixzz0NFTbnzEY
Wednesday, July 29, 2009
Trending Upward? U.S. Home Prices Improve for Fourth Consecutive Month
Trending Upward? U.S. Home Prices Improve for Fourth Consecutive Month
RISMEDIA, July 29, 2009-Data through May 2009, released by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, one of the leading measures of U.S. home prices, show that, although still negative, the annual rate of decline of the 10-City and 20-City Composites improved for the fourth consecutive month in 2009.
The 10-City and 20-City Composites declined 16.8% and 17.1%, respectively, in May compared to the same month last year. These values are improvements over April’s data, which show annual declines of 18.0% and 18.1%, respectively. After 16 consecutive months of record annual declines, beginning in October 2007 and ending in January 2009, the indices have now shown four consecutive months of improvement in annual returns.
“The pace of descent in home price values appears to be slowing,” says David M. Blitzer, chairman of the Index Committee at Standard & Poor’s. “There is a clear inflection point in the year-over-year data, due to four consecutive months of improved rates of return, after the steep decline that began in the fall of 2005. In addition to the 10-City and 20-City Composites, 17 of the 20 metro areas also saw improvement in their annual returns compared to those of April. Looking at the monthly data, 13 of the 20 metro areas reported positive returns; and the 10-City and 20-City Composites reported positive returns for the first time since the summer of 2006. To put it in perspective, this is the first time we have seen broad increases in home prices in 34 months. This could be an indication that home price declines are finally stabilizing.”
“While many indicators are showing signs of life in the U.S. housing market, we should remember that on a year-over-year basis home prices are still down about 17% on average across all metro areas, so we likely do have a way to go before we see sustained home price appreciation,” Blitzer added.
As of May 2009, average home prices across the United States are at similar levels to where they were in the middle of 2003, indicating that the three years of appreciation that occurred from 2003-2006 were all given back in the following three years. From the peak in the second quarter of 2006, the 10-City Composite is down 33.3% and the 20-City Composite is down 32.3%.
In terms of annual declines, the numbers remain relatively somber with all metro areas and the two composites in negative territory, and 16 out of the 20 metro areas are reporting double digit declines. Las Vegas, Los Angeles, Miami, Phoenix, Seattle and Tampa posted their lowest index levels in May since their respective peaks. From peak to trough Phoenix and Las Vegas are the worst off, down 54.5% and 53.4%, respectively. More upbeat news is seen in the monthly data; Dallas and Denver have reported three consecutive months of positive returns. Atlanta, Boston, Cleveland, San Francisco and Washington D.C. each reported two consecutive months of positive returns. Eight of the 13 MSAs reporting positive monthly returns for May were greater than +1.0%.
For more information, visit www.standardandpoors.com.
Read more: http://rismedia.com/2009-07-28/trending-upward-us-home-prices-improve-for-fourth-consecutive-month/#ixzz0MfSx7bJM
RISMEDIA, July 29, 2009-Data through May 2009, released by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, one of the leading measures of U.S. home prices, show that, although still negative, the annual rate of decline of the 10-City and 20-City Composites improved for the fourth consecutive month in 2009.
The 10-City and 20-City Composites declined 16.8% and 17.1%, respectively, in May compared to the same month last year. These values are improvements over April’s data, which show annual declines of 18.0% and 18.1%, respectively. After 16 consecutive months of record annual declines, beginning in October 2007 and ending in January 2009, the indices have now shown four consecutive months of improvement in annual returns.
“The pace of descent in home price values appears to be slowing,” says David M. Blitzer, chairman of the Index Committee at Standard & Poor’s. “There is a clear inflection point in the year-over-year data, due to four consecutive months of improved rates of return, after the steep decline that began in the fall of 2005. In addition to the 10-City and 20-City Composites, 17 of the 20 metro areas also saw improvement in their annual returns compared to those of April. Looking at the monthly data, 13 of the 20 metro areas reported positive returns; and the 10-City and 20-City Composites reported positive returns for the first time since the summer of 2006. To put it in perspective, this is the first time we have seen broad increases in home prices in 34 months. This could be an indication that home price declines are finally stabilizing.”
“While many indicators are showing signs of life in the U.S. housing market, we should remember that on a year-over-year basis home prices are still down about 17% on average across all metro areas, so we likely do have a way to go before we see sustained home price appreciation,” Blitzer added.
As of May 2009, average home prices across the United States are at similar levels to where they were in the middle of 2003, indicating that the three years of appreciation that occurred from 2003-2006 were all given back in the following three years. From the peak in the second quarter of 2006, the 10-City Composite is down 33.3% and the 20-City Composite is down 32.3%.
In terms of annual declines, the numbers remain relatively somber with all metro areas and the two composites in negative territory, and 16 out of the 20 metro areas are reporting double digit declines. Las Vegas, Los Angeles, Miami, Phoenix, Seattle and Tampa posted their lowest index levels in May since their respective peaks. From peak to trough Phoenix and Las Vegas are the worst off, down 54.5% and 53.4%, respectively. More upbeat news is seen in the monthly data; Dallas and Denver have reported three consecutive months of positive returns. Atlanta, Boston, Cleveland, San Francisco and Washington D.C. each reported two consecutive months of positive returns. Eight of the 13 MSAs reporting positive monthly returns for May were greater than +1.0%.
For more information, visit www.standardandpoors.com.
Read more: http://rismedia.com/2009-07-28/trending-upward-us-home-prices-improve-for-fourth-consecutive-month/#ixzz0MfSx7bJM
Monday, July 20, 2009
Texas Sold Team Realty CARES Blood Drive
Texas Sold Team Realty CARES Blood Drive
That is right! Cindie Stewart and the Texas Sold Team Realty, LLC Team heads to the Carter BloodCare Mobile Bus in Keller to give blood. We wanted to find a way to help our community and what way is better than giving your own blood to help our those in need.
She wasn't scared one bit! Way to go Cindie!
That is right! Cindie Stewart and the Texas Sold Team Realty, LLC Team heads to the Carter BloodCare Mobile Bus in Keller to give blood. We wanted to find a way to help our community and what way is better than giving your own blood to help our those in need.
She wasn't scared one bit! Way to go Cindie!
Monday, July 13, 2009
Take Five and Stay Alive
Take Five and Stay Alive
A Health Tip with Ingo Logé
The economy. The recession. Our jobs. Our family. War. Inflation. Traffic. Those are just some of the things that can cause stress in our daily lives. But have no fear! When the stress-monster attacks, there's something quick and easy you can do to breathe easier...one nostril at a time.
As Fitness Forever founder Ingo Logé shares in the accompanying video, "Air is invisible food." And when it comes to fitness and nutrition, Logé definitely knows what he is talking about! As a personal training and nutrition expert with over two dozen years of real-life experience, Logé's client list reads like a "Who's-Who" in the United States, Canada and the United Kingdom. Watch the video to learn Logé's five minute breathing exercise...and then watch your stress melt away!
For more great tips from Ingo Logé, and to learn more about his products and services, visit www.myfitness4ever.com.
A Health Tip with Ingo Logé
The economy. The recession. Our jobs. Our family. War. Inflation. Traffic. Those are just some of the things that can cause stress in our daily lives. But have no fear! When the stress-monster attacks, there's something quick and easy you can do to breathe easier...one nostril at a time.
As Fitness Forever founder Ingo Logé shares in the accompanying video, "Air is invisible food." And when it comes to fitness and nutrition, Logé definitely knows what he is talking about! As a personal training and nutrition expert with over two dozen years of real-life experience, Logé's client list reads like a "Who's-Who" in the United States, Canada and the United Kingdom. Watch the video to learn Logé's five minute breathing exercise...and then watch your stress melt away!
For more great tips from Ingo Logé, and to learn more about his products and services, visit www.myfitness4ever.com.
Thursday, July 9, 2009
July is Air Conditioning Appreciation Month
July is Air Conditioning Appreciation Month
Prepare Your Home for Hot Weather
Setting your air conditioner 5 degrees higher will save up to 20% on cooling costs.
Use fans to make indoor temperatures feel cooler, most ceiling fans use less energy than a light bulb.
Have your A/C unit serviced to cut up to 15% of your cooling cost.
Don't try to cool the great outdoors! Seal cracks, gaps, leaks and add insulation and/or radiant barrier to save up to 20% on home cooling cost.
Investments for Summer Energy Savings
Have your ducts professionally sealed to save up to $190 per year.
Install programmable thermostats and only cool the house when you're home-it can save up to $180 a year!
Replace incandescent light bulbs with CFL's or the new LED's to save on lighting AND cooling bills. 90% of the energy used by old incandescent bulbs produces heat, NOT light.
If your old AC breaks down, consider a high efficiency replacement. Replacing a 10 year old central AC unit with an Energy Star qualified model can cut 20-40% off your cooling costs.
Choose a Programmable Thermostat That's Right for You!
To decide which model is best for you, think about your schedule and how often you are away from home for regular periods of time-work, school, and other activities. Then decide which of the three different models best fits your schedule.
7 day models are best if your daily schedule tends to change, say if children are at home earlier on some days. They give you the most flexibility, and let you set different programs for different days.
5+2 day models use the same schedule every weekday, and another for weekends.
5-1-1 models are best if you tend to keep one schedule Monday through Friday, and another schedule on Saturdays and Sundays.
A/C Filters - The MOST Important Maintenance Task!
The most important maintenance task that will ensure the efficiency of your air conditioner is to routinely replace or clean it's filters. Clogged, dirty filters block normal air flow and reduce a system's efficiency significantly.
Some types of filters are reusable; others must be replaced. They are available in a variety of types and efficiencies. Clean or replace your filters every month or two during the cooling season.
Prepare Your Home for Hot Weather
Setting your air conditioner 5 degrees higher will save up to 20% on cooling costs.
Use fans to make indoor temperatures feel cooler, most ceiling fans use less energy than a light bulb.
Have your A/C unit serviced to cut up to 15% of your cooling cost.
Don't try to cool the great outdoors! Seal cracks, gaps, leaks and add insulation and/or radiant barrier to save up to 20% on home cooling cost.
Investments for Summer Energy Savings
Have your ducts professionally sealed to save up to $190 per year.
Install programmable thermostats and only cool the house when you're home-it can save up to $180 a year!
Replace incandescent light bulbs with CFL's or the new LED's to save on lighting AND cooling bills. 90% of the energy used by old incandescent bulbs produces heat, NOT light.
If your old AC breaks down, consider a high efficiency replacement. Replacing a 10 year old central AC unit with an Energy Star qualified model can cut 20-40% off your cooling costs.
Choose a Programmable Thermostat That's Right for You!
To decide which model is best for you, think about your schedule and how often you are away from home for regular periods of time-work, school, and other activities. Then decide which of the three different models best fits your schedule.
7 day models are best if your daily schedule tends to change, say if children are at home earlier on some days. They give you the most flexibility, and let you set different programs for different days.
5+2 day models use the same schedule every weekday, and another for weekends.
5-1-1 models are best if you tend to keep one schedule Monday through Friday, and another schedule on Saturdays and Sundays.
A/C Filters - The MOST Important Maintenance Task!
The most important maintenance task that will ensure the efficiency of your air conditioner is to routinely replace or clean it's filters. Clogged, dirty filters block normal air flow and reduce a system's efficiency significantly.
Some types of filters are reusable; others must be replaced. They are available in a variety of types and efficiencies. Clean or replace your filters every month or two during the cooling season.
Subscribe to:
Posts (Atom)
