It has recently become common knowledge in the housing and banking industry that there is an official inventory of 3.5 million available homes across America, and most concentrated within twenty-five metro market. Housing market researcher CoreLogic reports that the current shadow inventory, or pending supply, is 1.8 million homes, down slightly from 2010’s figure of 2 million.
The reasons that homeowners chose to convert their homes to alternative power are numerous. Some wish to be more environmentally friendly and produce less greenhouse gas, while others wish to become independent of big business, help the nation to be less dependent on foreign oil, and save money on utility expenses at the same time. Choosing to revert to alternative power sources can save money but keep in mind the initial conversion can be a bit expensive depending on the systems chosen.
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Over the last year or so American consumers have created a trend of refinancing that has shown a shift in how they view their number one asset and their credit. Consumers are learning that by refinancing their mortgages, they are not only getting better rates and terms, but they are also able to tap into the equity they have accrued in their homes through debt repayment and the escalation of property values. Some are using their credit to repair, improve or enlarge their homes while others have found a myriad of other uses for this new found cash flow: college tuition, vacations, weddings and debt consolidation are just some of the things these funds are being spent on.
Real estate investors spend a lot of time hunting down good properties and then negotiating the terms of a sale, or when the time comes to flip it, finding a qualified buyer. But that is only half of any good deal. If an investor is not able to get all of that work and negotiating transferred to a written contract, which is in their favor, then it has all been for nothing. During a verbal negotiation many things are glossed over or forgotten by all parties concerned, by methodically taking notes, and keeping in mind that a written contract will be drawn up when the talking is over, an investor can help themselves get all that they want and protect their end of the bargain all at the same time.
Why would anyone want a 40-year mortgage is what you
may be asking yourself now. However, surprising as it may seem, mortgage
Mae has decided to go full steam ahead with their newest program
after a year and a half of fits and starts. After six and a half decades
of not wanting to deal in long-term mortgages, because of their long
haul to maturity, the Federal National Mortgage Association has decided
the time is right to greatly extend amortization plans.
In this day and age of high energy costs and concerns about the environment many homeowners are looking to either build or modify their existing home to not only run more efficiently, and have less of an environmental impact, but to also save money on operating expenses and to off-set their taxes. As far back as the Carter administration there have been tax breaks and rebates for Americans who qualified.