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FHFA reports on interest rates

January 26, 2010

Washington — The Federal Housing Finance Agency today reported that the average interest rate on conventional 30-year, fixed-rate, mortgage loans of $417,000 or less decreased 4 basis points to 5.05 percent in December. The average interest rate on 15- year, fixed-rate loans of $417,000 or less decreased 9 basis points to 4.54 percent in December. These rates are calculated from the FHFA’s Monthly Interest Rate Survey of purchase-money mortgages. These results reflect loans closed during the December 24-31 period. Typically, the interest rate is determined 30 to 45 days before the loan is closed. Thus, the reported rates depict market conditions prevailing in mid- to late November.

The contract rate on the composite of all mortgage loans (fixed- and adjustable-rate) was 4.92 percent in December, down 8 basis points from 5.00 percent in November. The effective interest rate, which reflects the amortization of initial fees and charges, was 5.01 percent in December, down 8 basis points from 5.09 percent in November. [http://www.fhfa.gov/webfiles/15378/January%20MIRS%20Jan%202010%20final.pdf]

Now is the time to take advantage of the current real estate market and prevailing interest rates. In addition, there’s the tax credit that will expire the first of May. You need to act now. Contact me via www.JustCallPowers.com

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Important news on credit scores

January 23, 2010

Melissa Ezarick wrote an article for Bankrate.com that contains important information for anyone who is thinking of purchasing a new home or refinancing:

A few years ago, a score of 620 or higher was good enough. That increased to 680 in early 2008. Then it jumped to 720 in April last year and 740 in August, says Rodney Anderson, senior managing partner of Plano, Texas-based Rodney Anderson Lending Services.

In the past, any score of 700 or higher would get a double thumbs-up from credit experts. Now, rate adjustments begin kicking in at 740, with every 20-point drop adding another adjustment.

In other words, many people who were taking pride in their credit habits either must pay significantly higher or try to make quick changes to nudge their scores upward….

To read more, visit –  http://finance.yahoo.com/news/Good-credit-score-of-past-not-brn-3145613434.html?x=0&.v=1&.pf=real-estate&mod=pf-real-estate

For help in getting your financial house in order, please contact me. Visit www.JustCallPowers.com. Nowadays, purchasing a new home requires the services of a real estate firm that not only knows how to find you a house and help you negotiate the sale, but also how to help you with your finances. We want you to get the best deal possible in every which way, and we have the expertise to guide you.

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Posted in: Financial News, Financial Tips – No Comments

Former Cary Elementary School becomes Arts Center

January 23, 2010

The former Cary Elementary School is a lovely brick building at the intersection of Walnut Street and Kildaire Farm Road that dates back to 1939. It has presence and class, and I am so very happy that it hasn’t been torn down in the name of “progress.” Instead, the Town of Cary is spending $13.1 million to renovate it and turn it into an arts center. It will have classroom, studio, performance and office space. Also, to be added will be a stage and fly tower. Construction is set to take about 15 months.

If you would like to find a home in Cary, please visit — JustCallPowers.com

[Raleigh News & Observer, 1/23/10]
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Posted in: Neighborhoods, Newcomers – No Comments

Save web pages as pdf files

January 23, 2010

If you are like me, you have bookmarked dozens of web pages that might come in handy … someday. This  clutters up my bookmark lists and favorites folders and creates situations where I can’t find what I need for all the mess.

It’s a lot like my desk. But where the stuff on my desk stays the same and remains in existence forever (sigh), that simply isn’t so with many web sites. How many times have you gone back to that carefully saved site to learn how to repair the doohickey that’s attached to the whatsis, only to get the dreaded Error 404 that the site no longer exists? Arghhhh!

Instead, how about saving these web pages as pdf files? Pretty cool, huh? Even better is that the links on the page are also saved to the pdf file. And it’s FREE. Visit www.pdfmyurl.com

If you want to test it on a web page, test it on my web page — www.JustCallPowers.com

Or my other page — www.MyHomeFreeAndClear.com

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Posted in: Miscellaneous – No Comments

Used phones benefit victims of domestic violence

January 14, 2010

My daughter had a slight mishap with her cell phone; it went through the wash. Tom and I both were entitled to free phones, and Christmas break seemed like an ideal time to address her immediate problem and get new phones for all of us.

Which got me to thinking. I remembered hearing about a program where used phones can be used to benefit victims of domestic violence. This is not one of the needs that immediately comes to mind when you think about helping someone who is escaping an abuser, but it makes perfect sense. If they are to create new lives for themselves, good communication is a must.

Verizon Wireless has a program called Hopeline. Used phones can be dropped off at any Verizon Communications Store, and they will be used to benefit domestic violence victims. This is a really good thing, and I will be dropping off the two perfectly good phones. <Click here to learn more. >

If I can help you with your real estate needs in the Triangle, please visit — www.JustCallPowers.com

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Raleigh area assisted living facilities

January 4, 2010

I suppose the new year is as good a time as any to think about the approaching golden years for ourselves and loved ones. By golden I actually mean slightly past golden, as in old and decrepit (to quote my 92-year-old mother).

Mom calls her place “the old folks’ home.” She has her own apartment, and there’s a dining room that provides three meals a day (except Sunday) and weekly maid service. That’s it. To get more help, she needs to hire “room girls” or move to the wing that provides more care. Others call them assisted living facilities or adult care facilities.

North Carolina has just enacted tougher standards for “adult-care centers.” Up until now the highest rating was three stars, and 95% of the facilities met that standard. That represents 1,250 assisted-living centers and group homes across the state.

The new standards will take into account “recent penalties for violations such as medications errors and failure to stop residents from wandering.” Facilities will have to meet high standards for two years to qualify for a new fourth star.

Where to check for information?

If I can help you with your real estate needs, please visit www.JustCallPowers.com.

[Information from Raleigh News & Observer, 1/4/10.]
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Posted in: Beware, Miscellaneous – No Comments

Holiday gift suggestions

December 11, 2009

This has been a difficult year for so many families. One part of me cries out for lots of spending (in locally owned stores) to boost the economy and rebuild the job base. Another part cries out for less spending on friends and family and more giving to those in need. So here are my holiday gift suggestions:

I’m sure you know where your stores are, so let me concentrate on charitable giving. There are plenty of scammers out there, and it is important to see that your donations go where they ought to. A good place to search is Charity Navigator (www.charitynavigator.com).

Other than that, I recommend contributing to your local food bank. Many grocery stores have collection bins this time of year, and many churches accept food offerings. My church collects food for the Western Wake Crisis Ministry located at 103 E. Chatham St. in Apex (www.wwcm.org).

How about Goodwill, Salvation Army and Habitat for Humanity’s Re Store (2420 Raleigh Blvd. in Raleigh and 5501 Durham-Chapel Hill Blvd. in Durham)? Don’t just donate things. Buy things.

If you have a family member suffering from Alzheimber’s, you know how badly we need more research. In Fuquay Varina there’s a thrift shop whose proceeds go to this purpose: Guardian Angel Thrift Store on 742 N. Main St. (www.guardianangelthrift.org).

It’s my own personal thought that Christmas isn’t about spending lavish amounts of money. It’s about being creative and thoughtful.

If you are thinking of purchasing a home in the near future, do NOT load up your credit cards or drain your bank account for Christmas. Give yourself the FREE gift of checking your credit on www.annualcreditreport.com (not the one you see advertised on TV).

Now, about that new home — please visit www.JustCallPowers.com.

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Cap and Trade requirements for selling your home

December 2, 2009

Not long ago I received an email that obviously set out to scare the bejeezus out of every homeowner. This email stated that the Cap and Trade legislation passed by Congress would require EVERY existing home to meet new energy standards before it can be sold.

Ah come on. Homeowners are one of the biggest interest groups out there. The proof for how much power this group wields is the fact that no one dares to interfere with the mortgage interest deduction. We homeowners are a muscular bunch, and no one is going to mess with our ability to sell our homes.

But don’t take my word for the falsity of the claim. Here is what Snopes.com has to say about it–
http://www.snopes.com/politics/business/captrade.asp

For sane and sensible help with selling your home or buying a new one, please visit JustCallPowers.com.

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Home and property values in the Triangle

November 20, 2009

The press is still reporting dismal news on property values. “Property values will be off 40 percent to 50 percent from their peak, vacancies will rise, rents will decrease, and credit will remain scarce,” quotes David Bracken in an article in the Raleigh News & Observer.

Besides what that means for all of us as citizens, it’s enough to make any self-respecting Realtor want to pack up her signs and move to outer Elbonia.

The good news is that statement comes from interviews with 900 real estate professionals across the country. My sympathies go out to all the good folks in California, Arizona, Florida and other markets, but they aren’t us.

In the same article Jim Anthony is quoted as saying, “We don’t have the supply, and we do have the demand. They don’t have the demand, and they have all the supply.”

Average Prices Overall in the four county area of Durham, Johnston, Orange and Wake:

  • May 09 — $234,900
  • Jun 09 — $238,400
  • Jul 09 — $237,500
  • Aug 09 — $237,000
  • Sep 09 — $220,000
  • Oct 09 — $226,200

While prices have not been moving up, North Carolina’s Triangle is holding up well because “the region is widely viewed as having a bright economic future once the recession fades.”

For help in buying or selling your home, please contact me. Visit JustCallPowers.com.

[Raleigh News & Observer, 11/19/09, and Market Update, Triangle MLS, 10/09]

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Foreclosure home for sale in Clayton, NC

November 16, 2009

If you are looking for a foreclosed home to buy in Clayton, North Carolina, you owe it to yourself to take a look at this one:

  • 1908 sf
  • .33 acre
  • 3 bedroom/2-1/2 baths
  • Bonus room
  • Side load 2-car garage
  • Level lot with large backyard
  • Alarm system
  • 9′ ceilings
  • Crown molding and chair rails downstairs
  • Hardwoods in foyer, dining room and kitchen
  • $158,900

Conveniently located in Clayton, North Carolina, close to Talecris and Novo Nordisk. To learn more, please drop me an email at linda (at) justcallpowers.com.

Visit www.justcallpowers.com to learn more about the area.

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Posted in: Featured Listing – No Comments
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