1. John A Barba’s Real Estate Bulletin
This Week in Real Estate News (Housing, Mortgage, etc) Weekly Mortgage Rate Averages
New FHA Requirements: Party On! Mortgage Present Change Last
By Luke Mullins, Published January 10, 2010
Type Rate Week
.
30 Yr 5.04 % Up 5.00 %
Facing a tricky balancing act of keeping the housing market alive while protecting its
Fixed
eroding balance sheet, the Federal Housing Administration's new policy changes
help ensure that most American home buyers still have access to government- 15 Yr 4.35 % Same 4.35 %
backed mortgages with just 3.5 percent down. The steps—which include increasing Fixed
fees and boosting minimum down payment requirements for borrowers with very low
credit scores—are intended to rebuild and insulate the agency's capital cushion, 30 Yr 5.00 % Up Data not
which has eroded alongside falling home prices. But while the FHA insists they will FHA Provided
help strengthen its balance sheet, the changes are extremely accommodating to 15 Yr 5.23 % Down Data not
borrowers and should have little—if any—bearing on the FHA's ability to supply the FHA Provided
housing market with mortgage credit. Here are five things you need to know about
the development: 5/1 ARM 3.92 % Down 3.94 %
1. Falling Reserves
2. Higher Insurance Premiums Courtesy Bankrate & Mortgage101 as of 03/18/10
3. Increasing Down Payment Requirements (for some) Contact John is you need local rates from a
4. Reduced Seller Concessions trusted local Lender!
5. Impact!
Deal of the Month
Click here for full article
Home Improvement & Maintenance Tip of the Week:
Now that the snow has finally thawed, here are some landscaping tips:
By: Laura Fisher Kaiser, Published: September 18, 2009
Landscaping is one of the surest ways to pump up the value of your property.
According to research by Virginia Cooperative Extension, going from a plain lawn
and a concrete driveway to a well-landscaped lot raises a home’s perceived value by
12.7%. The opposite is also true: A “minimal” landscaping job—a thoughtless
smattering of scraggly plants—actually to remember is that success doesn’t depend
on how much you spend. “Landscaping doesn’t have Heldmann, author of “Be Your
Own House Contractor.” Here’s how to get started on a landscape plan of your own... This lovely property situated on a 50’ x 75’ lot in
southern Kentucky could be the perfect vacation
Click here for full article home, offered at the rock bottom price of
$2,450,000.00
(Funny huh, No seriously click here to search all
active listings in real time)
Monthly Contest: Upload a photo on my Face-
book Fan Page, the members photo with the most votes
at the end of the month will receive a gift card to Bogeys
Bar & Grill in Middletown, DE. Full details announced Joke of the Week:
on my Fanpage Wall.
If you think no one cares you're alive, then just
miss a couple of house payments
Invite your friends & family to participate in the fun.
Seasonal Info Here: Weekly Recipe: Your BBQ misses you:
Tax Tips for Homeowners Preparing 2009 Returns Recipe By : Remus Powers- Originator of the
By: Mike DeSenne, Published: February 19, 2010 Diddy-Wa-Diddy Sauce contest
Follow these tax tips for homeowners to ensure that you receive all of the tax
deductions and tax credits to which you’re entitled. 1/4 Teaspoon Allspice
You’ve heard it before: Your home is probably the biggest investment you’ll ever 1/4 Teaspoon Cinnamon
make. It’s also probably the biggest tax write-off you’ll ever have. Follow these tax 1/4 Teaspoon Mace
tips for homeowners to ensure that you receive all of the tax deductions and tax 1/4 Teaspoons Black pepper
credits to which you’re entitled for the 2009 tax year. 1/2 Teaspoon Curry powder, oriental pref
1/2 Teaspoon Chili powder
Home-related tax deductions, from mortgage interest to real estate taxes, can add 1/2 Teaspoon Paprika
up. If you’re married filing jointly with taxable income of $100,000, an extra $5,000 in 1/4 Cup White vinegar
deductions would lower your tax bill by $1,250. Tax credits, for such things as energy 1/2 Teaspoon Hot pepper sauce
efficiency and home buying, are even more valuable because they increase your 1 Cup Ketchup
refund (or decrease what you owe) dollar for dollar. 1/3 Cup Dark molasses
Give yourself a day to organize paperwork and fill out tax forms. Need help? IRS Place all of the dry ingredients into a bowl. Add
Publication 17, “Your Federal Income Tax,” has the answer to just about any vinegar and stir. Add remaining ingredients and
question you can think of, and it’s free. Basic tax software starts at $29.95, and H&R stir until mixture is thoroughly blended. This
Block charges $187, on average, to prepare a tax return. Full-service accountants sauce may be served room temperature or
charge more, depending on the complexity of a return. heated. Yield: 2 cups
Click here for full article
Weekly Q & A: What are the details of the tax credits?
1st Time Buyer~ defined as having not owned a home in the last three years~ Maximum amount is $8,000 ($4,000 Married, filing sepa-
rate)
Current Homeowner~ must have used the selling home as the principal residence consecutively for five of the previous eight years~
Maximum amount is $6,500 ($3,250 Married, filing separate). Selling to a dependant is Ineligible.
Income Restrictions~ $125,000 Single; $225,000 Married
Sales Price~ Maximum purchase price is $800,000
Deadline~ Must have a fully executed Sales Agreement to purchase on or before April 30th, Sales Agreements executed after this date
are ineligible. If you meet the Sales Agreement deadline, you have until July 1st to close/ settle, Settlements after this date are ineligible.
Have a question? Submit it to john@johnabarba.com and look for the following weeks issue for the answer. Have a question you need
answered now, call John direct at 302-530-4502
Other News: Funny Delaware Laws: We all need a laugh! Local Market Trends: MLS’s 4th Quarter ‘09 Stat’s
Delaware: Getting married on a dare is grounds for an annulment;
You may not sell dead people for money without a license; It is
illegal to fly over any body of water, unless one is carrying sufficient
supplies of food and drink; “R” rated movies shall not be shown at
drive-in theaters.
Lewes: It is illegal to wear pants that are “firm fitting” around the
waist.; Getting married on a dare is grounds for an annulment.
Rehoboth Beach: No person shall change clothes in his or her
vehicle; On Halloween, children may only “trick-or-treat” from 6:00
PM to 8:00 PM, and if Halloween falls on a Sunday, they must
“trick-or-treat” on October 30 during this same time interval; One
may not whisper in church; No person shall pretend to sleep on a
bench on the boardwalk; Changing into or out of a bathing suit in a
public restroom is prohibited; Alcohol may not be served in
nightclubs if dancing is occurring on the premises at the same time.
Economic News:
Manufacturing Facility Expands in Delaware Financial News:
Clean Technology Facility Doubles Capacity of Former Location
State Treasurer's/TD Bank Takeover Program
WILMINGTON, Del. (Mar. 11, 2010) - Magco Incorporated, a State Treasurer Velda Jones-Potter and TD Bank, America's Most
wholly-owned subsidiary of the Kissner Group, recently expanded Convenient Bank®, are pleased to announce an innovative new
its operations in Delaware. Originally established in 1998, Magco partnership to bring Financial Education to classrooms throughout
Incorporated is a leading producer of packaged rock salt, solar Delaware. This new partnership is the cornerstone of Treasurer
water softener salt products, salt for animal nutrition and specialty Jones-Potter's Financial Education initiatives for 2010.
de-icer products. They began packing operations in Pottstown, PA
and relocated to Claymont, DE in 2000. To accommodate A recognized leader in financial education, Treasurer Jones-Potter
increasing market demands and projected growth, the operation has teamed up with TD Bank, creators of the acclaimed WOW!
moved to a new, state-of-the-art facility in Wilmington. This new Zone, to bring this exciting program to schools. The TD Bank
facility has more than doubled the capacity of the former plant WOW! Zone is a free financial literacy program created and
location and has improved product quality while substantially implemented by TD Bank to help children ages 5-18 develop strong
reducing the company's environmental footprint. financial skills, in school and online.
Last week, Governor Jack Markell and Alan Levin, director of the Trained Bank Instructors present teacher-written lesson plans on
Delaware Economic Development Office, toured the new facility. topics ranging from an introduction to saving to understanding lines
Eugene Bitchko, Co-Chairman of the Kissner Group, led the visit of credit and the stock market. Treasurer Jones-Potter and TD
and provided an overview of the company's workflow and Bank are committed to giving children and teens the tools they
employment projections. Gene also recognized Delaware for its need to make smart financial decisions between wants and needs,
support of business development and DEDO for its assistance how to create a budget, and the basics of banking, to name a few.
throughout their expansion. Each lesson is supported with an age appropriate activity.
Click here for full story. Click here for full story
Questions or Comments, Email john@johnabarba.com or call 302-235-1054
Searching for real estate, need Buyer/ Seller info, need useful links:
www.JohnABarba.com
Re/Max Associates–1302 Old Lancaster Pike Hockessin, DE 19707 Office: 302-234-3800
(Each office independently owned & operated)
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