Today you’ll see a great example of what a woman did with a small piece of land without any “architectural” help: 2 rooms, kitchen, 3 bedrooms with washrooms and a veranda! This narrow house belongs to the lady in yellow – Helenita Queiroz Grave Minho , designed by her. She live in this 1 meter wide by 10 meter tall house in Madre de Deus, Brazil. At first, the municipality refused, but in the end with the plan allowed the construction, that became a touristic spot of the small town of 12 thousand people. I think that this project is a very unique idea and something like this could be designed in big cities where the space is really a problem, but to live daily in a house like this would be exhausting. – Via – Ahboon
Click here for Pictures
Wednesday, February 23, 2011
10 Tips to Protect Your Home while Away on Vacation
RISMEDIA, February 11, 2011—With school vacations approaching, many lucky families are planning trips to cure their winter blues. Here are some important things to remember if you leave your home for several days.
1. Turn down your thermostat, but don’t shut it off. You shouldn’t set your thermostat any lower than 55 degrees in order to protect your pipes from freezing.
2. Arrange for snow removal in your absence in case there’s a storm while you are away. Massachusetts law requires residents to clear their own sidewalks and walkways six hours after a storm takes place and you’re not off the hook if you are out of town.
3. Make sure to hold the mail and newspaper. If you can’t have someone pick it up every day, it’s a sure giveaway that nobody’s home and can be a green light for burglars.
4. If possible, leave a key with someone you trust, preferably a neighbor and have them keep an eye on your home while you’re gone. Make sure to offer returning the favor and thank them with a gift when you return.
5. Unplug all electronics that don’t need to used like the television, coffee maker, and home computers.
6. Lower the temperature on your water heater.
7. If you can, leave a car in the driveway and use timers to turn on outdoor and indoor lights to give the impression that someone is home. Leaving the porch light on the entire time you’re gone is a bad idea. If you don’t have a timed light, you can leave an interior light on for the duration of your trip as long as you can’t easily notice it during the day.
8. As excited as you may be to go on vacation, avoid advertising it over Facebook and Twitter. Also, keep this in mind while posting updates from your cell phone on vacation.
9. If you have access to one, place all your valuables in a safe or safe deposit box.
10. Remember, if your house is on the market, you can ask your REALTOR® to stop by and check in. While you’re on vacation, it’s a great time for showings because you won’t have schedule conflicts.
1. Turn down your thermostat, but don’t shut it off. You shouldn’t set your thermostat any lower than 55 degrees in order to protect your pipes from freezing.
2. Arrange for snow removal in your absence in case there’s a storm while you are away. Massachusetts law requires residents to clear their own sidewalks and walkways six hours after a storm takes place and you’re not off the hook if you are out of town.
3. Make sure to hold the mail and newspaper. If you can’t have someone pick it up every day, it’s a sure giveaway that nobody’s home and can be a green light for burglars.
4. If possible, leave a key with someone you trust, preferably a neighbor and have them keep an eye on your home while you’re gone. Make sure to offer returning the favor and thank them with a gift when you return.
5. Unplug all electronics that don’t need to used like the television, coffee maker, and home computers.
6. Lower the temperature on your water heater.
7. If you can, leave a car in the driveway and use timers to turn on outdoor and indoor lights to give the impression that someone is home. Leaving the porch light on the entire time you’re gone is a bad idea. If you don’t have a timed light, you can leave an interior light on for the duration of your trip as long as you can’t easily notice it during the day.
8. As excited as you may be to go on vacation, avoid advertising it over Facebook and Twitter. Also, keep this in mind while posting updates from your cell phone on vacation.
9. If you have access to one, place all your valuables in a safe or safe deposit box.
10. Remember, if your house is on the market, you can ask your REALTOR® to stop by and check in. While you’re on vacation, it’s a great time for showings because you won’t have schedule conflicts.
Single-family rental vacancies at all-time low of 2%
2.23.11 Denver Post
Vacancies in rental condos, single-family homes and other small properties hit a new low of 2 percent in the fourth quarter of 2010, according to a report released by the Colorado Division of Housing.
The vacancy rate was 5.5 percent in the fourth quarter of 2009 and was 2.9 percent during the third quarter of 2010. The 2010 fourth-quarter rate is the lowest metrowide since the report started in 2004.
At the county level, the lowest vacancy rates were found in Douglas County and in the Boulder/Broomfield area. The vacancy rate was 0.9 percent in Douglas County, and there were no vacancies among the units surveyed in Boulder County. The highest county-wide vacancy rate, found in Adams County, was 3.6 percent.
Vacancies in rental condos, single-family homes and other small properties hit a new low of 2 percent in the fourth quarter of 2010, according to a report released by the Colorado Division of Housing.
The vacancy rate was 5.5 percent in the fourth quarter of 2009 and was 2.9 percent during the third quarter of 2010. The 2010 fourth-quarter rate is the lowest metrowide since the report started in 2004.
At the county level, the lowest vacancy rates were found in Douglas County and in the Boulder/Broomfield area. The vacancy rate was 0.9 percent in Douglas County, and there were no vacancies among the units surveyed in Boulder County. The highest county-wide vacancy rate, found in Adams County, was 3.6 percent.
Tuesday, February 15, 2011
News for FHA Loans
Below you will find the highlights for the important newsletters published by FHA. Below is the link to the FHA newsletter web site if you want to read the details.
February 15, 2011
With Mortgagee Letter 11-10, FHA announces an increase to the Annual Mortgage Insurance Premium on standard FHA loan programs and a change that affects case numbers.
Here are the 7 things you need to know about these changes:
1. These changes are effective April 18th, 2011.
2. The Annual Insurance Premium will increase .25% for standard forward mortgages. The Upfront Mortgage Insurance remains at 1.00%.
3. The Annual Premium is now 1.15% for LTVs GREATER than 95% on 30 year loans
4. The Annual Premium is now 1.10% for LTVs EQUAL to or LESS than 95% on 30 year loans
5. The Annual Premium is now .50% for LTVs GREATER than 90% on 15 year loans
6. The Annual Premium is now .25% for LTVs EQUAL to or LESS than 90% on 15 year loans
7. Case numbers with no activity for 6 months will automatically be canceled (includes case numbers pulled prior to April 18th, 2011.
News for FHA Loans
February 15, 2011
With Mortgagee Letter 11-10, FHA announces an increase to the Annual Mortgage Insurance Premium on standard FHA loan programs and a change that affects case numbers.
Here are the 7 things you need to know about these changes:
1. These changes are effective April 18th, 2011.
2. The Annual Insurance Premium will increase .25% for standard forward mortgages. The Upfront Mortgage Insurance remains at 1.00%.
3. The Annual Premium is now 1.15% for LTVs GREATER than 95% on 30 year loans
4. The Annual Premium is now 1.10% for LTVs EQUAL to or LESS than 95% on 30 year loans
5. The Annual Premium is now .50% for LTVs GREATER than 90% on 15 year loans
6. The Annual Premium is now .25% for LTVs EQUAL to or LESS than 90% on 15 year loans
7. Case numbers with no activity for 6 months will automatically be canceled (includes case numbers pulled prior to April 18th, 2011.
News for FHA Loans
Friday, February 11, 2011
Average 30-year mortgage rate rises past 5%
By Julie Schmit, USA TODAY
Mortgage rates rose this week to their highest level in 10 months, but the increase isn't expected to derail strengthening in the battered U.S. housing market.
Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 5.05% this week. That's the highest since late April and up sharply from a modern record low of 4.17% in November.
FUND: More states give help to homeowners
UNDERWATER MORTGAGES: Homeowners face 'new normal' in housing bust
DIP: Pace of some foreclosures slows in January
Rates would have to rise much more to squelch a housing market recovery, economists say. And the federal government would likely take steps to pull rates down if that occurred, they add.
"Nobody is welcoming a rise in interest rates but it's not enough to kill purchases in the housing market," says Keith Gumbinger of mortgage researcher HSH.com.
To discourage large numbers of sales, rates would have to top 6%, predicts ISH Global Insight economist Patrick Newport. If they went over 5.5%, that would likely spur government action, adds Cameron Findlay, LendingTree chief economist.
Even though rates have been rising since November, they're still low by historical standards. For the past 20 years, 30-year fixed loans have averaged 6.9%, Findlay says. For the past 10 years, they averaged 5.93%.
Low rates and low home prices helped fourth-quarter home sales, the National Association of Realtors reported Thursday.
Nationwide, fourth-quarter sales rose 15% from the third quarter. But they were still 20% below a year earlier, when federal tax credits artificially boosted sales.
INTERACTIVE GRAPHIC: 4Q foreclosures
HOUSING MARKET: Track the rise, fall and ... rebound?
CALCULATOR: How much house can you afford?
Median prices for single-family homes were up year-over-year in 78 of 152 metropolitan areas. But they were up just 0.2% nationwide, the NAR said. Newport expects prices to drop further and begin to turn around midyear.
The association's data indicate several larger markets posted healthy price gains due to stronger job growth. In Washington, D.C., median prices were up 8.1% year-over-year. The Boston region posted a 4.2% rise, and Austin was up 4.1%.
"Sales clearly recovered in the latter part of 2010," says Lawrence Yun, NAR economist. He expects sales to pick up this year despite interest rates he predicts will be 5.5% or higher by year's end.
But job creation "will trump the rise in rates" and keep home sales improving, Yun says.
Higher rates will have a bigger impact on refinancing activity, Gumbinger says. That fell 8% for the week ended Feb. 4 as interest rates jumped, the Mortgage Bankers Association says.
Mortgage rates follow yields on 10-year Treasury bonds, which have been rising recently.
Mortgage rates rose this week to their highest level in 10 months, but the increase isn't expected to derail strengthening in the battered U.S. housing market.
Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 5.05% this week. That's the highest since late April and up sharply from a modern record low of 4.17% in November.
FUND: More states give help to homeowners
UNDERWATER MORTGAGES: Homeowners face 'new normal' in housing bust
DIP: Pace of some foreclosures slows in January
Rates would have to rise much more to squelch a housing market recovery, economists say. And the federal government would likely take steps to pull rates down if that occurred, they add.
"Nobody is welcoming a rise in interest rates but it's not enough to kill purchases in the housing market," says Keith Gumbinger of mortgage researcher HSH.com.
To discourage large numbers of sales, rates would have to top 6%, predicts ISH Global Insight economist Patrick Newport. If they went over 5.5%, that would likely spur government action, adds Cameron Findlay, LendingTree chief economist.
Even though rates have been rising since November, they're still low by historical standards. For the past 20 years, 30-year fixed loans have averaged 6.9%, Findlay says. For the past 10 years, they averaged 5.93%.
Low rates and low home prices helped fourth-quarter home sales, the National Association of Realtors reported Thursday.
Nationwide, fourth-quarter sales rose 15% from the third quarter. But they were still 20% below a year earlier, when federal tax credits artificially boosted sales.
INTERACTIVE GRAPHIC: 4Q foreclosures
HOUSING MARKET: Track the rise, fall and ... rebound?
CALCULATOR: How much house can you afford?
Median prices for single-family homes were up year-over-year in 78 of 152 metropolitan areas. But they were up just 0.2% nationwide, the NAR said. Newport expects prices to drop further and begin to turn around midyear.
The association's data indicate several larger markets posted healthy price gains due to stronger job growth. In Washington, D.C., median prices were up 8.1% year-over-year. The Boston region posted a 4.2% rise, and Austin was up 4.1%.
"Sales clearly recovered in the latter part of 2010," says Lawrence Yun, NAR economist. He expects sales to pick up this year despite interest rates he predicts will be 5.5% or higher by year's end.
But job creation "will trump the rise in rates" and keep home sales improving, Yun says.
Higher rates will have a bigger impact on refinancing activity, Gumbinger says. That fell 8% for the week ended Feb. 4 as interest rates jumped, the Mortgage Bankers Association says.
Mortgage rates follow yields on 10-year Treasury bonds, which have been rising recently.
All-Cash Deals Offer Big Boost to Housing Market
Daily Real Estate News | February 8, 2011
More buyers are paying cash for real estate. About 28 percent of sales were all-cash transactions last year, according to the National Association of REALTORS®. In October 2008, the rate was 14 percent for comparison.
Indeed, cash buyers made up more than half of all transactions in the Miami-Fort Lauderdale area alone last year, and about 42 percent were cash buyers in Phoenix in 2010--which marked a triple rate increase compared to 2008.
The more depressed the housing market, the higher the percentage of a cash deal, economists note.
Cash buyers can often get a 5 percent to 10 percent discount on the asking price of a home than a buyer using a mortgage because sellers often prefer cash deals since they close more quickly and it prevents a bank from changing its mind, says real estate pro Mohammed Siddiq in Fort Lauderdale, Fla.
"The prices were just irresistible,” said Richard Stoker, who paid cash for two condos in Miami Beach, Fla., and plans to close on one more soon. “Florida's been hit pretty hard."
Virginia Hall-Busch also couldn’t resist the bargains. She purchased a “short sale” historic house in Stone Mountain, Ga., for $52,500 (the home was originally on the market for $159,000).
"When you have a bad economy, it's hard on lots of people," Hall-Busch says. "But right now if you've got the money to put down on a house, long term it's going to be good thing."
Cities With the Most Cash Deals
The following are the cities with the highest percentage of homes purchased through all-cash deals in December 2010:
Miami: 54.2%
Las Vegas: 45.9%
Tampa, Fla.: 44.6%
Phoenix: 35.6%
Stockton, Calif.: 29.1%
Chicago: 23.4%
San Diego: 23.1%
More buyers are paying cash for real estate. About 28 percent of sales were all-cash transactions last year, according to the National Association of REALTORS®. In October 2008, the rate was 14 percent for comparison.
Indeed, cash buyers made up more than half of all transactions in the Miami-Fort Lauderdale area alone last year, and about 42 percent were cash buyers in Phoenix in 2010--which marked a triple rate increase compared to 2008.
The more depressed the housing market, the higher the percentage of a cash deal, economists note.
Cash buyers can often get a 5 percent to 10 percent discount on the asking price of a home than a buyer using a mortgage because sellers often prefer cash deals since they close more quickly and it prevents a bank from changing its mind, says real estate pro Mohammed Siddiq in Fort Lauderdale, Fla.
"The prices were just irresistible,” said Richard Stoker, who paid cash for two condos in Miami Beach, Fla., and plans to close on one more soon. “Florida's been hit pretty hard."
Virginia Hall-Busch also couldn’t resist the bargains. She purchased a “short sale” historic house in Stone Mountain, Ga., for $52,500 (the home was originally on the market for $159,000).
"When you have a bad economy, it's hard on lots of people," Hall-Busch says. "But right now if you've got the money to put down on a house, long term it's going to be good thing."
Cities With the Most Cash Deals
The following are the cities with the highest percentage of homes purchased through all-cash deals in December 2010:
Miami: 54.2%
Las Vegas: 45.9%
Tampa, Fla.: 44.6%
Phoenix: 35.6%
Stockton, Calif.: 29.1%
Chicago: 23.4%
San Diego: 23.1%
A carrot on a stick for homebuyers
ERIE - Home sales in the Denver area dropped 8 percent in the month of January over last year's numbers. Those numbers reflect the absence of the federal tax credit that drove home sales last January. The town of Erie has decided that if Uncle Sam will not provide an incentive for homebuyers this year, it will.
Erie's board of trustees voted to create a homebuyer's incentive package to lure new residents to their town. Buyers of new and existing homes will receive a three month family pass to the town's community center. Buyers of new homes will also receive a discounted membership at the Colorado National Golf Club and a free airplane tour over the town of Erie.
"What better way to get to know the layout of our new town than by air?" Fred Diehl, assistant to the Town of Erie administrator, said.
While the recession has created challenges in the housing market, Erie has actually faired better than many communities.
"During the last two years of economic downturn we've out performed much of metro Denver in new home construction and home sales," Diehl said.
Which begs the question: Why create this incentive plan?
"That's the question of the day. If Erie has been outperforming most of metro Denver in new home sales and construction, why offer an incentive program? And the logic is that we want to amp up our marketing efforts to 11," Diehl said.
Diehl says as the incentive plan will help better position Erie as the economy and home sales grow. The town also has an incentive plan in place to help lure businesses and employers to the community.
(KUSA-TV © 2011 Multimedia Holdings Corporation)
Erie's board of trustees voted to create a homebuyer's incentive package to lure new residents to their town. Buyers of new and existing homes will receive a three month family pass to the town's community center. Buyers of new homes will also receive a discounted membership at the Colorado National Golf Club and a free airplane tour over the town of Erie.
"What better way to get to know the layout of our new town than by air?" Fred Diehl, assistant to the Town of Erie administrator, said.
While the recession has created challenges in the housing market, Erie has actually faired better than many communities.
"During the last two years of economic downturn we've out performed much of metro Denver in new home construction and home sales," Diehl said.
Which begs the question: Why create this incentive plan?
"That's the question of the day. If Erie has been outperforming most of metro Denver in new home sales and construction, why offer an incentive program? And the logic is that we want to amp up our marketing efforts to 11," Diehl said.
Diehl says as the incentive plan will help better position Erie as the economy and home sales grow. The town also has an incentive plan in place to help lure businesses and employers to the community.
(KUSA-TV © 2011 Multimedia Holdings Corporation)
Thursday, February 10, 2011
Fewer new foreclosures filed in 2010, but more foreclosures going to auction
By The Denver Post
New foreclosure filings fell to 10,736 in Colorado during the fourth quarter last year, a 4.8 percent decline from 2009's fourth-quarter total of 11,282, according to a report released today.
Foreclosure sales at auction, the event that completes the foreclosure process, also dropped during the fourth quarter, falling from 5,466 to 4,691 year-over-year for the fourth quarter, according to the report by the Colorado Division of Housing.
Year-end totals for new foreclosure filings also fell, with filings dropping 8 percent. There were 46,394 filings in 2009 and 42,692 filings last year. Year-end totals for foreclosure sales at auction, on the other hand, increased 16.9 percent from 20,437 during 2009 to 23,891 during 2010.
The filings total for 2010 is the second-largest ever recorded, coming in behind 2009's record total of 46,394. Foreclosure filings surged in 2009 in response to recession-driven layoffs in late 2008 and early 2009.
Foreclosure sales at auction, however, peaked during 2007 at 25,054 sales. Sales totals then fell in 2008 and 2009, but surged again in 2010.
New foreclosure filings fell to 10,736 in Colorado during the fourth quarter last year, a 4.8 percent decline from 2009's fourth-quarter total of 11,282, according to a report released today.
Foreclosure sales at auction, the event that completes the foreclosure process, also dropped during the fourth quarter, falling from 5,466 to 4,691 year-over-year for the fourth quarter, according to the report by the Colorado Division of Housing.
Year-end totals for new foreclosure filings also fell, with filings dropping 8 percent. There were 46,394 filings in 2009 and 42,692 filings last year. Year-end totals for foreclosure sales at auction, on the other hand, increased 16.9 percent from 20,437 during 2009 to 23,891 during 2010.
The filings total for 2010 is the second-largest ever recorded, coming in behind 2009's record total of 46,394. Foreclosure filings surged in 2009 in response to recession-driven layoffs in late 2008 and early 2009.
Foreclosure sales at auction, however, peaked during 2007 at 25,054 sales. Sales totals then fell in 2008 and 2009, but surged again in 2010.
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