Homebuilders make green, efficient features standard

More homebuilders in the United States, especially the largest ones, are including green features in their standard packages as buyers demand energy efficiency.

This week, Miami-based Lennar announced plans to offer its new PowerSmartSM Homes in all 16 states where it builds, beginning in Minnesota. These homes, designed to cut energy use 40%, will include efficient heating, cooling, lighting, appliances and windows. They'll come with the government's Energy Star label and the Department of Energy's efficiency score.

"Prospective buyers are eco-conscious and truly embrace energy-efficient products even in this current economic climate," Bill Burgess, president of Lennar's Minnesota region, said in a statement.

Read More HERE

Join us for April's First Friday Art Walk

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-7752122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

TRI Clinic for Triathletes

Next month, Portland Aquatics, a Division of the City of Portland Recreation Department and Tri-Maine are teaming up to offer a one-day TRI Clinic for the experienced or new to the sport triathlete. The clinic will include a timed 450-meter freestyle swim for those needing a recorded time for the PolarBear Triathlon or for anyone seeking a time for the distance. The clinic will also include forty-five minute sessions on a variety of topics including swim stroke technique, underwater stroke analysis, dry land training, first timer’s triathlon Q&A, hydration, bike fit clinic, minimalistic running seminar and transition demonstrations. The clinic will conclude with a Maine Multisport Roundtable during which athletes will discuss triathlons, offer advice and answer questions.

Participants must register for the clinic. Before April 1^st, registration fee is $35 and after April 1^st, the registration fee is $45. The roundtable discussion is free and does not require registration. For more information about the clinic and to print out a registration form, visit the city’s website athttp://www.portlandmaine.gov/rec/triathlonclinic.pdf or call Portland Recreation at 874-8456.

WHEN: April 11, 2010

10:00 AM – 5:00 PM

3:00 PM – 5:00 PM Maine Multisport Roundtable

WHERE: Riverton Pool and Community Center

1600 Forest Avenue, Portland

Mortgage Rates Rise on Weak Auctions

A combination of factors was negative for mortgage markets last week, and mortgage rates ended higher. Large budget deficits and economic troubles in smaller European Union nations made bonds less attractive to global investors. In addition, stock market gains sent the Dow to an 18-month high, which pulled funds out of fixed income investments. Finally, with just one week remaining for the Fed's MBS purchase program, comments from Fed Chief Bernanke about potential future MBS sales added to the pressure in mortgage markets.

For months, investors have been concerned that the enormous supply of debt needed to fund US government spending would force yields on US Treasury securities to rise to attract purchasers. This is what took place this week. Demand was surprisingly weak at all of this week's record Treasury auctions, especially from foreign investors, and yields were pushed higher. Since mortgage-backed securities (MBS) compete for investors with Treasuries, MBS yields rose as well, pushing mortgage rates higher.

In a speech on Thursday, Fed Chief Bernanke added to the volatility in mortgage markets with his comments about the possible timing of future sales of MBS from the Fed's portfolio. To support the economy, the Fed has purchased almost $1.25 trillion of MBS since the start of 2009. The Fed has made clear from the start that it was a temporary measure and that it would eventually sell its MBS holdings when the economy was healthy enough. Earlier this month, Bernanke stated that he did not expect the Fed to sell assets "in the near term". On Thursday, however, his language changed a little. While Bernanke assured investors that MBS sales would be gradual and that they would only take place if the economy were strong enough to handle it, he opened the door for the start of Fed MBS sales at an earlier date than previously anticipated.

Also Notable:

• February Existing Home Sales fell 1%, while New Home Sales dropped 2%
• An agreement was reached for the EU and the IMF to bail out Greece if necessary
• The Dow stock index rose to a new high for the year
• The Fed purchased $8 billion in agency MBS, with about $7 billion more to go

This Week

The biggest economic event this week will be the important Employment report on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Early estimates are for an increase of about 200K jobs in March. Before the employment data, Personal Income will be released on Monday. The Chicago PMI will come out on Wednesday, and the ISM manufacturing index will be released on Thursday. Consumer Confidence, Construction Spending and Factory Orders will round out the schedule. In addition, the Treasury will announce the size of upcoming auctions on Thursday.

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-7752122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

New Land Listing in Scarborough

John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street Portland, Maine 04101
207-775-2121 Office 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us

Habitat For Humanity Furniture

Habitat for Humanity ReStore in Portland now has a furniture section which
had its grand opening this month so if you or a client are looking to donate
some furniture or household items please give the store's manager a call,
Tom Galinat 207.221.0047 or email him at restore@habitatportlandme.org.

New Gray Listing

New Listing from the Hatcher Group

Intervention Efforts Appear To Be Slowing Foreclosure Filings

For fifty consecutive months foreclosure notices filed against U.S. homes have risen on a year over year basis, according to the latest Realty Trac monthly report. Notices of foreclosure activity were filed against 308,524 properties in February.

Foreclosure auctions, including notices of Trustee’s Sales and Notices of Sheriff’s Sales, the last steps in the foreclosure process were scheduled on 123,633 properties nationwide, a 16% increase over year-ago levels. However, scheduled auctions were down 14% from their peak last August.

The report also shows a slight 2% decrease from January figures, but still marks 6% above year-ago figures. “This leveling of the foreclosure trend is not necessarily evidence that fewer homeowners are in distress,” said Realty Trac CEO James Saccacio. “But rather that foreclosure prevention programs, legislation and other processing delays are in effect capping monthly foreclosure activity – albeit at a historically high level that will likely continue for an extended period.”

Nevada, Arizona and Florida, which have been hot beds for foreclosure activity top state foreclosures. Six states account for 60% of all activity. Nevada saw a drop of 7% during the month, but the state’s foreclosure rate ranked highest for the 38th straight month. Las Vegas still leads the state in the sheer volume of foreclosures.

Arizona and Florida had nearly identical rates of activity with one of every 163 residential units getting a foreclosure notice. California ranked fourth highest on the list with one in 195 housing units. Michigan was fifth as high unemployment impacts the Detroit area, keeping it near the top in foreclosures.

Notices of default, regularly the first step in the foreclosure process were filed against 106,208 properties in February. Default notices were down 25% from their peak of 142,000 in April, 2009.

The drop is attributed to delays in processing foreclosures, which have been back-logged as a result of government programs to modify mortgages, state legislation forcing bankers to work with mortgage holders at risk of foreclosure and lenders waiting for new programs to be announced by the Obama administration.

This article has been republished from Housing Predictor. You can also view this article at Housing Predictor, a real estate analysis and forecasting site.

East Bayside Community Conversation March 30th

A national team of urban planners and architects will be in Portland March 30 through April 1 to develop a plan for improving East Bayside, Maine’s most diverse neighborhood. The team will seek public input at an open community meeting on Tuesday, March 30 from 5:00 – 8:00 at the Root Cellar, 94 Washington Avenue, and will unveil their proposed plan at a public presentation on Thursday, April 1 in Ford Auditorium at Portland High School, 284 Cumberland Avenue. Both events are free and open to the public.

Portland is one of seven communities across the U.S. to win a prestigious, competitive grant from the American Institute of Architects (AIA) for technical assistance to turn the city’s East Bayside neighborhood into a model for sustainable, urban design. The AIA’s 7-member Sustainable Design Assessment Team (SDAT), along with staff from the AIA Center for Communities by Design, will provide consulting services on how to better utilize local assets, transform blighted areas and make the area more pedestrian friendly.

SDAT members include: J. Todd Scott, an architect from Seattle who specializes in historic preservation and downtown revitalization, Richard Goll, co-founder and principal officer of Onsite-Insights with over 35 year experience in youth development and public safety; Reemberto Rodriguez, Director of the Silver Springs Regional Center for Montgomery County, Maryland; creative economy expert Neil Takemoto of Cool Town Studios; transportation planner Seleta Reynolds; Patricia Smith, a landscape architect and urban designer; Joel Mills, director of the AIA Center for Communities by Design; and Erin Simmons, director of AIA design services.

Portland’s East Bayside neighborhood is bounded on the west by Franklin Arterial, the east by Washington Avenue, the north by Marginal Way, and the south by Congress Street.

The grant is a partnership between the East Bayside Neighborhood Organization (EBNO), the USM Muskie School of Public Service and the City of Portland.

More information about AIA visit, the SDAT members and the community events is available on the EBNO website, www.eastbayside.org, or by contacting EBNO at (207) 408-2431 or belinda@eastbayside.org.

10 Staging Tips to Help Your Home Sell

Want to sell your home? Get out the bucket, mop and Mr. Clean. The key to making a positive first impression is simple, said Sandra Rinomato, host of HGTV’s popular “Property Virgins” show.

“Get it clean, clean, clean,” said Rinomato. “If your house isn’t clean, it instantly sends up negative thoughts that the home is not well maintained. If your house is spotless, you’re ahead of the game,” she said.

But don’t stop there, advised Rinomato. To increase your chances of making a sale, “stage” the house to make it as attractive as possible. Until recently, “Staging meant pulling out all the stops—setting the dining table with your best china and crystal, arranging flowers, lighting candles,” she said. “Now we take the minimalist approach. Basically, you want to strip the house to its bare essentials, depersonalize it so potential buyers can superimpose themselves and their lifestyle on the house.”

Rinomato offered the following tips for staging a home:

1. Visit model homes and examine shelter magazines for inexpensive decorating ideas. Always keep in mind you are not decorating for yourself but for the general public.

2. Start with the outside. Give the house a fresh coat of paint, add shiny hardware to the front door and plant a few flowers to send a subliminal message the house is loved and well cared for.

3. Declutter every room to make it look larger. Get rid of family pictures, trophies and knickknacks. Closets and drawers should be no more than 30% full.

4. Invest in eco-friendly but bright lights. Open the drapes or remove them completely. “Light, bright rooms give the impression this is a happy place—and everyone wants to move into a happy place,” said Rinomato.

5. Feature only a few pieces of furniture with mainstream appeal. Pull pieces away from walls to make rooms look bigger.

6. Make sure a room’s primary use is obvious. A bedroom should look like a bedroom, not an office, hobby center or gym.

7. Bedrooms and kitchens are difficult to stage because they are in daily use, but make the effort. Clear everything off the counters and nightstands, roll up the rugs and hide the laundry hamper. Buff the cabinets with car wax and clean under the sinks. Invest in pristine white bed linens and towels.

8. Minimize the “pet effect.” Remove food bowls and litter boxes to the utility room. Deodorize thoroughly.

9. Organize the utility room and garage. Hang up the bicycles, roll up the hose. Renting a storage locker is worth the cost if it helps you sell faster and for a higher price.

10. Once your house is staged, invite your friends or Realtor over and walk them through to get an objective opinion.

Home Buyers' Credit Coming up on Deadline

I wanted to remind you that there are only six more weeks to the Homebuyers’ Credit.

Contracts must be dated no later than April 30^th

Closings must occur by June 30^th

New homebuyers get $8,000.

Subsequent homebuyers (ie. Have owned their current home at least 5 yrs) get $6,500.

LITTLE KNOWN FACT:

Active duty military personnel who spent more than 90 days outside the US in 2009 can use the Homebuyers’ Credit until May 2011.

Keep it Current

Those who wish to take the next step in the gardening adventure—with motives ranging from cutting costs and conserving energy to cultivating wildlife and creating beauty—are in luck, for, as always, the next innovation is just around the corner. Read on for our favorite sources of outdoor inspiration, sure to make your backyard plot of land stand out from the rest of your neighborhood’s predictable raised beds and carefully clipped hedges.

Farm Fresh

For an old-fashioned yet uber-trendy way to welcome farm-fresh eggs to your larder each day, do what countless other North Americans are doing and raise your own roost. The U.K.-based company Omlet has made modeling the farm life as easy as pie. You place your order online at www.omlet.com for an Eglu (housing up to four chickens) or Eglu Cube (housing up to ten chickens), and the company will deliver the Eglu, chickens, and feed to your door.

If DIY is more your style, check out the hundreds of coop plans available from www.BackyardChickens.com. Designs ranging from standard small, medium, and large coops to tractor coops mean even the pickiest of roost designers should find a desirable option. The site offers a learning center with forums, a glossary of terms, and information about recognizing diseases, preventing predators, and more for those learning as they go.

Those hoping to craft a coop on their own with just a hammer, some nails, and a couple of sheets of plywood should note that a chicken coop is more than just a wooden box with a door. There are many elements to consider, including whether your city has ordinances against raising farm life on residential property. Raising chickens is not a hobby to haphazardly stumble upon, but for those who take up the task with the right expectations and knowledge of what is involved, the benefits can be a delicious example of what’s old becoming new again.

Read more HERE at Your Home and Lifestyle.

Food of Love

Baked Brie with Honey and Walnuts

Prep Time: 30 minutes

Cook Time: 25 minutes

Servings: 8

1 sheet frozen puff pastry, thawed

1 8-ounce wheel Brie

1 egg, beaten (for glaze)

¼ cup butter

3 tablespoons honey

1½ teaspoons garlic, minced

2 tablespoons walnuts, chopped

1 tablespoon fresh rosemary, chopped

1 apple, sliced

1 loaf French bread, sliced

Roll out puff pastry sheet on a lightly floured surface. Place Brie in center and fold pastry around it, sealing seams. Press with fork to seal seams completely.

Preheat oven to 400 degrees. Transfer Brie in puff pastry to a baking sheet, seam side up. Brush pastry with egg glaze. Bake until pastry is golden, 18 to 20 minutes. Let cool for 30 minutes before serving.

While pastry is cooling, combine butter, honey, and garlic in a small saucepan over low heat. Stir until butter melts. Pour sauce on a plate. Sprinkle sauce with walnuts and rosemary. Place pastry-wrapped Brie atop sauce on plate and serve with apples and bread.

Wine Pairing: Brie and Champagne are a great match and create just the right mood for this romantic meal. My favorites are Dom Perignon, Veuve Clicquot, and Mumm.

French Onion Soup

Swiss Gruyère is the ideal cheese for this dish due to its distinctive earthy flavor and fine melting characteristics.

Prep Time: 20 minutes

Cook Time: 1 hour, 30 minutes

Servings: 4

3 tablespoons butter

1 tablespoon olive oil

6 onions, thinly sliced

6 garlic cloves, thinly sliced

2 bay leaves

1 teaspoon fresh thyme

½ cup dry red wine

6 cups chicken stock

1 teaspoon Dijon mustard

sea salt, to taste

freshly ground pepper, to taste

3 tablespoons cognac

4 sourdough bread slices, toasted

1 cup Swiss Gruyère cheese, grated

½ cup Parmesan, grated

Melt butter with oil in a heavy large saucepan over medium heat. Add onions, garlic, bay leaves, and thyme. Sauté, stirring frequently, until very tender and golden brown, about 45 minutes.

Add wine and simmer until reduced to a glaze, about 3 minutes. Stir in stock and Dijon and simmer 20 minutes. Season with salt and pepper to taste.

Make Ahead: Set aside or refrigerate soup up to this step for up to one day.

Return soup to simmer before continuing. Stir in the cognac.

Preheat broiler. Ladle soup into broiler-proof soup bowls. Top each with a slice of toast and grated cheeses. Broil until cheeses are melted and lightly browned, about 1 to 2 minutes. Serve immediately.

Wine Pairing: You can’t go wrong pairing a fruity, slightly-chilled Beaujolais Nouveau with this rich, complex soup. Georges Duboeuf makes a very food-happy version.

Read more HERE at Home By Design

No Surprises From Fed Meeting

There were no major surprises in the economic data or the Fed announcement last week. As a result, while volatility remained day to day, mortgage rates ended nearly unchanged for the third straight week.

As expected at its meeting last Tuesday, the Fed held the fed funds rate steady, and the accompanying statement contained few changes. The statement retained the language about the fed funds rate remaining at extremely low levels for at least several months. The Fed's assessment of the economy was a little more upbeat at this meeting, but pointed out that economic improvement will occur slowly. The Fed continued to signal that the $1.25 trillion MBS purchase program will conclude at the end of March. With less than two weeks of Fed MBS purchases remaining, investors will be watching closely to see if the Fed's exit has an impact on mortgage rates.

Last week's inflation data showed that inflation is not a concern right now. The February Core Consumer Price Index (CPI) increased at a low 1.3% annual rate. The Fed's target range is commonly believed to be a 1.5% to 2.0% annual rate. The current low inflation environment makes it easier for the Fed to continue to hold the fed funds rate low to stimulate the economy.

Also Notable:

• February Housing Starts fell 6% and Building Permits declined 2%
• The Dow stock index rose to a new high for the year
• The Treasury will auction $128 billion in 2-yr, 5-yr, and 7-yr securities next week
• The Fed purchased $10 billion in agency MBS, with about $14 billion more to go

This Week

This week, Existing Home Sales will be released on Tuesday, and New Home Sales will come out on Wednesday. Durable Orders, an important indicator of economic activity, is also scheduled for Wednesday. A revised report on first quarter Gross Domestic Product (GDP), the broadest measure of economic activity, will come out on Friday, along with Consumer Sentiment. There will be Treasury auctions on Tuesday, Wednesday, and Thursday. Several Fed officials will be speaking during the week as well.

Mid-Century Modern In The Mountains

As a successful real estate broker in Aspen, Colorado, Scott Davidson had seen hundreds of homes in the mountain city to know what he did and didn’t like. So when he came across a circa-1960 home on a duplex lot, his initial thought was to tear down the home, build another, and sell it for profit. After all, the ranch, which is situated on the west side of town, was dated, having been remodeled several times over the past four-plus decades. But there was still something about the home Davidson couldn’t shake. “There’s something really charming about a mid-century house,” he says. “I just couldn’t tear it down.”

In 2006, Davidson, whose celebrity clients include interior designer Charlotte Moss as well as model/actress Christie Brinkley, moved in.

“The more I lived in it, the more I loved the bones of the house and the surroundings,” he says of the 16,000-square-foot lot, which boasts mature trees and landscaping. For the next two years, he took notes on what he would change once he remodeled the home. “I spent a lot of time in libraries going through all of the designs of mid-century to find things I liked,” he says. The biggest area Davidson wanted to change was the interior rooms, which sorely needed reconfiguring. “All of the ingredients were here,” he says. “They just needed to be rearranged.”

Davidson enlisted the help of Aspen-based architecture firm Rowland & Broughton; Charlotte, North Carolina-based interior designer John Bossard; and an Aspen-based landscape architect to transform his outdated 2,500-square-foot mountain-style ranch into a comfortable mid-century modern house.

Read more HERE at Home By Design

Take Your Kids Into the Garden

My best friend, Susie, and I made our own version of mulberry “wine” by mashing the delicate berries in a tin coffee can, supplied by my mother. We were a sight, purple tongues and all! Mom was perfectly happy to have us within her line of vision but otherwise entertained while she tended her garden—a solo pursuit.

Because she considered gardening an adult activity, none of her wisdom was passed down to me—what a lost opportunity! Decades passed before I learned to plant, weed, and fertilize a beautiful plot of my own.

But today, things have changed. Creative elementary school teachers use gardening projects to illustrate a science, botany, or physics lesson, and wise parents have figured out that rather than sneak out into the garden during naptime, it’s much more fun to garden with their children.

If given an opportunity, kids can play a rewarding role in the creation and tending of a family garden. The resulting horticultural lessons will form the basis for a lifelong hobby and wonderful shared memories between parent and child.

There are other benefits, such as getting your kids more interested in food they eat because they’ve helped grow it. And what mom doesn’t want to drag her children away from computer, video games, and television and push them out the door for some good old-fashioned fresh air?

Read more HERE at You Home and Lifestyle

Renters: 6 Ways to Spruce Up Your Space

The new American dream: Renting, until the dust settles. More Americans are renting homes and giving up on home ownership—at least for now. Job loss and foreclosures are forcing some folks out of their family homes and into apartments and rental homes.

As a renter, you may feel that your options are limited when it comes to decorating. But, if you spend time with your new landlord, you may be able to work out some cosmetic changes in the home before move-in. In fact, there are many painting products, hardware items and wall decor pieces that can change a look without destroying the place. Many landlords will be happy you’re taking care of the home.

6 ways to spruce up your rental

1. Start with updates. For example, if carpeting or flooring needs to be replaced, see if the landlord would be willing to update it. It could be a win-win situation for the both of you: new flooring for you and it increases the home’s value for the homeowner. Consider making a deal with your landlord: he buys the materials, you do the labor.

2. Painting. Always get permission from your landlord before you paint. If he or she approves, consider magnetic primer by Rust-Oleum. This specialty magnetic latex primer has a dark gray base coat that allows you to create a surface that attracts magnets. It can be applied to wood, metal, masonry, drywall and plaster. It’s a fun way to hang photos, prints, posters and more without damaging the wall.

3. Area rugs. Rugs are a good way to cover up old flooring. It’s an easy fix and you can take it with you when you move.

4. Fixtures, cabinet hardware and switchplates. These items are simple changes you can make for an updated look. If there is a ceiling fan in the kitchen or dining room, consider new light kits with charming glass votives. Replacing knobs and pulls on kitchen cabinetry is a simple task and an inexpensive way to upgrade the look. Changing switchplates, especially in the bedrooms, is an easy fix to bring in a style of your own.

5. Florals. Creating an artistic floral arrangement can liven up any room in your rental home. Paper flowers are long-lasting, and they won’t wilt or die.

6. Wall decals, stickers, fabric and letters. You can customize any room in your rental home with removable wall art decals. Decal stickers give a hand-painted look to your walls, windows, glass or mirrors. Plus it’s a short-term fix. Fabric is another option for home decorating. You could create a wall collage using swatches of fabric hung with push pins. Self adhesive and magnetic letters are becoming a popular trend in wall decor. Most are so lightweight they can be hung with push pins. Others can be hung with self-adhesive magnetic strips.

The Truth About Appraisals

The appraisal process often baffles consumers. They may feel that their home is worth a higher dollar amount, and so the appraised value doesn't always make sense to them. It is important to know that the appraiser is completely independent from lenders, buyers, sellers, and real estate agents, and that the guidelines to which they adhere are dictated by the Uniform Standards of Professional Appraisal Practice (USPAP) and Fannie Mae. In most states, the mortgage lenders must also disclose the purpose of the appraisal, as each transaction carries its own set of rules.

In essence, these important guidelines help appraisers put a fair market value on homes based on comparable sales in the same area, and the home must be bracketed in size and value.

For example, there is no set dollar figure associated with a great view, pool, spa, bathroom upgrades, etc. If a homeowner installs a custom pool that cost them $30,000, but the local marketplace supports the value of a pool at $15,000, then that item will be bracketed as [$15,000] on the appraisal.

Upgrades can usually be expressed at a higher percentage of their value in newer homes because the only way to obtain those upgrades was to put more money into the cost of building the home. On the other hand, the upgrading or remodeling of an older home is rarely reflected in full in the final appraisal. This is because typically 25-40% of the project involves demolition and the fixing of issues that aren't uncovered until the project has already begun, such as plumbing or wiring that may need updating.

Ultimately, the value of the upgrades must be supported by comparable examples within the same marketplace. These comparisons must be drawn from current market activity within the last six months. This is a safeguard to prevent appraisers from attaching too high a value to the home in question, and opening up the appraisal for review. This guideline further states that appraisers can only base their opinion on the value of home sales that have actually closed.

As a loan professional, I make a point to follow the appropriate guidelines at all times. This promotes a good relationship with the lender, and helps to create easier and much smoother closings for my borrowers.

Tax Tips for 2009 Good News about Last Year's Taxes

April 15th is less than six weeks away and we all know what that means. If you've yet to visit your accountant or tax preparer, there are some new tax laws, as well as a few old ones you need to know about. But, don't worry. All of the information we're going to share falls under the category of "good news".

Back again for his yearly tax-time advice is Trevor Rice, a certified public accountant and shareholder with Stern, Kory, Sreden and Morgan, AAC in Stevenson Ranch, California. Considering that Rice's appointment book is filling up quickly, we thought it would be a good idea to get him talking about some of the more favorable changes regarding our taxes from last year.

For Individuals
"With a lot of people struggling and finding themselves in survival mode," Rice says, "Our government is responding with help in the form of new tax laws."

According to Rice, the biggest benefit in terms of tax relief is extended to those who are losing their homes to either foreclosure or short sale. He says in the past, the amount forgiven by the lender could have been considered taxable income. Under the current law, up to $2,000,000 of cancelled debt can be excluded from being taxed.

Rice warns there are some provisions to the law. For starters, it ONLY applies to your principal residence. It also ONLY applies to the debt incurred from either buying the house, or from making upgrades and repairs. In other words, drawing from your equity line to pay off a credit card may still be taxed. Rice went on to say if you are deemed insolvent (the value of your total assets is less than your debt), you might be able to exclude ALL of the cancelled debt.

With this and every other tax law we'll talk about, Rice asks you to check your state laws, and consult with your CPA or tax preparer. While they will apply to your federal income taxes, they are not guaranteed to apply to your state taxes.

Read more HERE at You Magazine

Where Are Rates Going Now? Important Deadlines on the Horizon

Two years ago, the Washington Post reported that home loan rates shot up to nearly 7% from 6% in less than a week. The volatility demonstrated that week resulted from turmoil in the financial markets and a lack of buyers for mortgage backed securities (MBS).

That volatility continued through November 2008 when the Federal Reserve announced a program designed to lower rates and provide stability to housing. That program has been incredibly successful, driving rates to the lowest levels of all time. However, as this program will end March 31st, people want to know: Where are rates going now?

Looking for Clarity
This month YOU Magazine turns to Barry Habib, Chairman of Mortgage Success Source, for his viewpoint. Mr. Habib has been very accurate in his assessments of both the financial markets and the direction of mortgage rates, providing education and market information to 30,000 home loan professionals across the country.

Mortgage rates are tied to the price of MBS and like other fixed income vehicles similar to U.S. treasuries, the higher the demand and price, the lower the corresponding rate or yield will be. Therein lies the issue. Throughout 2009, the Federal Reserve was the primary buyer for MBS, purchasing as much as 80% or more of all MBS issued in any given month.

The concern is that when the Fed concludes the program, who will step in to pick up the supply of mortgages for the rest of 2010 and beyond. If investor interest is scarce, look for rates to rise. Also, filling the hole with avid buyers is not the only potential headwind facing MBS and other fixed income investments.

Think About It this Way
Throughout the boom years of real estate, homeowners could just about set any price they wanted when the time came to sell their property. In many cases, simply putting a sign in the front yard would bring multiple offers, driving the price of the home up.

The Federal Reserve has acted in this capacity, supplying heated buying interest for the last fourteen months, in essence, setting the price of MBS and keeping interest rates low. When the Fed stops buying in April, the concern that exists isn't so much that there won't be buyers for home loans but what price those buyers will be willing to pay. The lower the price that new MBS buyers settle on, the higher the rates that consumers will have to pay.

Read more HERE at You Magazine.

Building a Backyard Garden

Two years ago, you didn’t even know what microgreens were. Now, you want to grow them—along with snap peas, squash, and Swiss chard—in your backyard.

That’s no surprise, thanks to Americans’ growing interest in local food and eating well. Across the nation, the DIY crowd is planting container gardens on back porches, replacing patches of grass with miniature farm plots, and serving homegrown food for dinner. They’re trimming their food budgets, better understanding where their food comes from and how it grows, and embracing the farm-to-fork lifestyle. And, as personal gardener Amy Pennington of Seattle’s Go Go Green Garden knows firsthand, these new backyard farmers are expanding their pantries and their palates.

Learning to “farm” requires a bit of know-how if you’re a beginner, but green-thumb-challenged individuals can grow food on their own if they educate themselves about the process. Here’s how to make your garden grow green.

Brush Up on the Basics

By tapping available resources, you can glean a gardening education before you plant your first seed. Chat up the staff at your local nursery, take classes at community centers, or study books like Alys Fowler’s Garden Anywhere. These references will take the guesswork out of such tasks as prepping your soil and will teach you what to plant and when and where to plant it.

Start Small

When you begin planning your garden, start small, says Pennington. “I always encourage people to clear a small area of their yard and dedicate it to growing veggies,” she says. “Try it out for a year and see if you enjoy the process of nurturing a garden.” During this trial run, Pennington also encourages new gardeners to start smart by planting their first seeds in the spring under the best conditions possible.

“Spring is a great time [to plant] because it leaves room for error. If something doesn’t work in April or May, you can still sow a lot of vegetables in June and even more in September or October,” she says. You can also lessen the chance of making errors by planting your seeds in good conditions. Seek a spot that has good soil (see sidebar), plenty of sun, and access to a water source, whether that source is a hose or a watering can.

Read more HERE at Home by Design.

Poll Shows Strong Support for Government Housing Initiatives

Americans remain strongly committed to federal support for home buyers, according to a recent survey of U.S. households.

Roughly 68% of those polled said the government should continue to support housing, and 65% believe the government should be doing more to keep families from losing their homes to foreclosure.

The poll included both home owners and renters and was conducted for the National Association of Home Builders (NAHB) by RT Strategies, a non-partisan public opinion polling firm based in Washington, D.C. RT Strategies interviewed a representative sample of 1,000 adults nationwide by telephone using live interviewers on January 29-31, 2010. The sample included 170 interviews with respondents from cell-phone-only households.

Among those polled, some key groups said the government should continue to play a vital role in maintaining a healthy housing market. For example, 78% of all potential home buyers, including 81% of renters intending to buy a home in the near future, said the government should continue to support housing.

Roughly 65% of home owners said the government also needs to do more to keep families from losing their homes. Support for more foreclosure protection was not confined merely to current home owners. Among renters, 84% said the government needs to do more to helped strapped borrowers. This issue is particularly important to women, with 71% supporting greater foreclosure protection, compared to 58% of men.

Keeping families in their homes is also particularly important to first-time home buyers, as 78% of young adults under age 30 support greater foreclosure protection. And 69% of adults who are 30 to 44, the prime age range for move-up buyers, said they support more foreclosure protection.

Overall, roughly two-in-three respondents said they own their home. Among renters, about two-in-three intend to buy a home in the near future. In addition, 15% of current home owners intend to buy a home in the near future.

The poll asked respondents for their views regarding the Worker, Homeownership and Business Assistance Act of 2009 that extended a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The legislation, which was signed into law by President Obama in November 2009, also authorized a tax credit of up to $6,500 for qualified repeat home buyers. Overall, 8% of those surveyed said they intend to take advantage of this credit, while another 24% who might have been interested in using the tax credit said they cannot afford to purchase a home at this time. Of the 33% of respondents who said they are planning to buy a home (both renters and current home owners), roughly 17% said they intend to use the tax credit.

Read more HERE

Things Are Looking Up – Finding Success during Tough Economic Times

Despite the changes in the real estate industry and the economic despair that accompanied 2009, Realty Executives International, Inc. has maintained a steadfast approach in its commitment to supporting its “Executives” (real estate agents) in their success.

Contrary to the consumer-focused approach of most real estate companies, Realty Executives’ Owner and Executive Chairman Rich Rector believes that consumers reap the benefits of agents distinguished in their marketplace for productivity, entrepreneurial business approach and expert real estate knowledge.

That is why, early on, Realty Executives drew a distinction between the Executive level of productivity and professionalism versus that of the average licensed agent. “By supporting our Executives’ productivity and success, the consumer then experiences us as the most professional in their marketplace,” says Rector.

Abilities and perseverance were tested during the economic crisis of the past year. Some companies may have put their head in the sand and retreated in the face of such dramatic change. Realty Executives did not.

Rector, along with CEO Glenn Melton, hit the pavement and dedicated a great deal of time in the field to understand the needs of its brokers and agents. The company ramped up its internal communications programs, including social media forums like Facebook, Twitter and Rector’s personal blog (http://richrector.activerain.com/), an aggressive technology initiative has been launched and agent support was adapted to ensure that agents received relevant, efficient and cost-effective training, education and marketing tools. The company also focused on fostering a strong collaborative cultural mindset and cohesion.

Read more HERE.

Get More Garden for Less

Whether you’re an avid gardener or you simply enjoy the end result, there are countless ways to create a splendid outdoor setting within your means. So go ahead and kick things up a notch with a few budget-friendly upgrades to your landscape.

Treat your garden like a blank canvas waiting to be filled with wonderful finds. Be on the lookout for pieces that are unique and affordable. You can begin by incorporating some rarely used home decor into your outdoor setting. Anything from an old teapot to a soup tureen can quickly become a quirky container. Rather than discard anything that is chipped or slightly worn, give these tokens a second chance to shine in your garden with your flowers and plants.

It also pays to take a second look at your home’s façade. Hang an ornate mirror to reflect your garden and visually expand the space. Adorn the exterior with dishes that sport a leaf motif, or hang a display shelf for a grouping of potted plants. When it comes to plantings, quality trumps quantity every time. You don’t need anything fancy or costly in order to make a statement. Look no further than Mother Nature for a vast array of colors and textures. A handful of hanging plants is all you need to make your front porch pop.

Though gardens tend to have their own agenda, it helps to start with a plan. Just as you would do inside your home, improve upon one outdoor area at a time. This strategy is bound to give you more bang for your buck. Go for some well-placed perennials to return alongside your annuals. And pay attention to the views of your garden from the main living areas such as the kitchen or family room. Frame that section with something special so that you and your guests can enjoy nature’s bounty from inside. You don’t have to spend a lot of time or money on your efforts. Something as simple as an old flea-market chair can become a pretty pedestal for a plant.

In fact, any outdoor focal point goes a long way toward creating a personality-packed garden without spending a fortune in the process. Select something sculptural, such as a beautiful bench or some artwork. Architectural remnants work well in a scenic setting and can be used as shelves for your plants.

Read more HERE at Your Home and Lifestyle

Cumberland County Foreclosure List

Route 11 ~ Baldwin ~ Auction ~MPN - Portland Press Herald 544 Brighton Road ~ Bridgton ~ $59000 ~HUD 9 Walker Ave ~ Bridgton ~ $69900 ~Equator.com 4 Brocklebank Drive ~ Bridgton ~ $117000 ~Ocwen 5 Maple Street ~ Bridgton ~ $146500 ~RES.net 0 O'Meara Lane ~ Bridgton ~ Auction ~MPN - Portland Press Herald 1 Harrison Road ~ Bridgton ~ Auction ~MPN - Portland Press Herald 12 Mitchell Lane ~ Bridgton ~ Auction ~MPN - Portland Press Herald 18 Cushing St ~ Brunswick ~ $42900 ~Equator.com 1 Charles St ~ Brunswick ~ $89000 ~962178 22 Overview Rd 22 ~ Brunswick ~ $105500 ~Homesteps 23 Davis St ~ Brunswick ~ $119900 ~965239 72 Water St ~ Brunswick ~ $134000 ~Fannie Mae 237 Hacker Rd ~ Brunswick ~ $139900 ~Fannie Mae 6 Cedar St ~ Brunswick ~ $140000 ~Fannie Mae 16 Meredith Dr. ~ Brunswick ~ Auction ~Fine Atty 10 Rocky Hill Drive ~ Brunswick ~ Auction ~MPN - Portland Press Herald 66 Garrison Street ~ Brunswick ~ Auction ~MPN - Portland Press Herald 7 Marc Drive ~ Brunswick ~ Auction ~MPN - Portland Press Herald 8 Kimberley Circle ~ Brunswick ~ TBD ~Indymac/One West 2 Wainwright Dr ~ Cape Elizabeth ~ $424900 ~Equator.com 15 Trundy Rd. ~ Cape Elizabeth ~ Auction ~Keenan 15 Trundy Road ~ Cape Elizabeth ~ Auction ~MPN - Portland Press Herald 195 State Park Rd ~ Casco ~ $109900 ~959649 195 State Park Rd ~ Casco ~ $109900 ~Equator.com 8 Winn Rd ~ Cumberland ~ $339000 ~956687 249 Gray Road ~ Cumberland ~ Auction ~MPN - Portland Press Herald 151 Middle Rd ~ Falmouth ~ $285000 ~Fannie Mae 15 Farm Gate Road ~ Falmouth ~ Auction ~Tranzon 3 Patagonia Dr ~ Freeport ~ $261000 ~Fannie Mae 697 Gray Rd ~ Gorham ~ $155000 ~Fannie Mae 17 Timber Ridge Rd ~ Gorham ~ $255000 ~Fannie Mae 29 Mountainview Road ~ Gorham ~ Auction ~MPN - Portland Press Herald 312 W Gray Rd ~ Gray ~ $132000 ~Fannie Mae 70 Shaker Rd ~ Gray ~ $145000 ~Fannie Mae 98 Lake Ave ~ Gray ~ $249900 ~Fannie Mae 89 Tryon Rd ~ Harpswell ~ $169900 ~Homesteps 5 Park Place, Orrs Island ~ Harpswell ~ Auction ~MPN - Times Record 197 Lewis Rd ~ Harrison ~ $59000 ~Fannie Mae 618 Bolsters Mills Rd ~ Harrison ~ $104900 ~Homesteps 592 Maple Ridge Road ~ Harrison ~ Auction ~MPN - Portland Press Herald 179 Cooks Mills Road ~ Naples ~ $85000 ~Fannie Mae 66 Lambs Mill Rd ~ Naples ~ $125000 ~Fannie Mae 75 Rolling Hill Dr ~ Naples ~ $349900 ~Fannie Mae 1009 Sebago Road ~ Naples ~ Auction ~MPN - Portland Press Herald 223 Gore Road ~ Naples ~ Auction ~MPN - Portland Press Herald 451 Lakehouse Road ~ Naples ~ Auction ~MPN - Portland Press Herald 317 Bennett Rd ~ New Gloucester ~ $205000 ~Fannie Mae 14 Wall Street ~ New Gloucester ~ $214900 ~RES.net 94 Penny Rd ~ New Gloucester ~ $219900 ~PAS Reo 291 Penny Road ~ New Gloucester ~ Auction ~MPN - Portland Press Herald 676 Middle Rd ~ New Portland ~ $109900 ~Homesteps 345 West Pownal Road ~ North Yarmouth ~ Auction ~MPN - Portland Press Herald 82 Cumberland Ave ~ Portland ~ $85000 ~Fannie Mae 20 West St ~ Portland ~ $112900 ~RES.net 54 Florida Ave ~ Portland ~ $143000 ~Fannie Mae 31 Waverly Street ~ Portland ~ $154900 ~HUD 203 Coyle St ~ Portland ~ $190000 ~Fannie Mae 76 Douglass St ~ Portland ~ $199900 ~Equator.com 209 Stevens Ave ~ Portland ~ $249900 ~Equator.com 85 87 Glenwood Avenue ~ Portland ~ $259900 ~Fannie Mae 85 -87 Glenwood Av ~ Portland ~ $259900 ~RES.net 16 Back Cove ~ Portland ~ Auction ~Fine Atty 37 Fallbrook St. ~ Portland ~ Auction ~Fine Atty 16 Back Cove Estates ~ Portland ~ Auction ~MPN - Portland Press Herald 180 High Street, unit 20 ~ Portland ~ Auction ~MPN - Portland Press Herald 21 Fleetwood Street ~ Portland ~ Auction ~MPN - Portland Press Herald 32 Bartlett Street ~ Portland ~ Auction ~MPN - Portland Press Herald 33 Grant Street ~ Portland ~ Auction ~MPN - Portland Press Herald 38 Hanover Street ~ Portland ~ Auction ~MPN - Portland Press Herald 40 University Street ~ Portland ~ Auction ~MPN - Portland Press Herald 43 Hanover Street ~ Portland ~ Auction ~MPN - Portland Press Herald 49 Commonweath Drive East ~ Portland ~ Auction ~MPN - Portland Press Herald 50 Craigie Street ~ Portland ~ Auction ~MPN - Portland Press Herald 60 Back Cove Estates ~ Portland ~ Auction ~MPN - Portland Press Herald 83 Allison Avenue ~ Portland ~ Auction ~MPN - Portland Press Herald 83 Verrill Rd ~ Pownal ~ $99900 ~Equator.com 50 Boulder Rd ~ Raymond ~ $120000 ~Fannie Mae 13 Nancys Way ~ Raymond ~ Auction ~MPN - Portland Press Herald 11 Ash Swamp Rd ~ Scarborough ~ $75000 ~Fannie Mae 47 Tall Pines Rd ~ Scarborough ~ $174900 ~951635 7 Ross Rd ~ Scarborough ~ $200500 ~Fannie Mae 35 Eagle Crest Rd ~ Sebago ~ $235000 ~Fannie Mae 103 Orchard Road ~ Sebago ~ Auction ~MPN - Portland Press Herald 109 Orchard Road ~ Sebago ~ Auction ~MPN - Portland Press Herald 432 Sebago Road ~ Sebago ~ Auction ~MPN - Portland Press Herald 67 Shore Road ~ Sebago ~ Auction ~MPN - Portland Press Herald 29 Baldwin Rd ~ Sebago ~ TBD ~Fannie Mae 182 Sawyer St ~ South Portland ~ $85000 ~PAS Reo 273 Ocean St ~ South Portland ~ $110000 ~Fannie Mae 81 Linton St ~ South Portland ~ $124000 ~Equator.com 1286 Broadway ~ South Portland ~ $124900 ~Fannie Mae 100 Skillings St ~ South Portland ~ $190000 ~Fannie Mae 119 Providence Avenue ~ South Portland ~ Auction ~MPN - Portland Press Herald 1272 Broadway ~ South Portland ~ Auction ~MPN - Portland Press Herald 46 Pennsylvania Avenue ~ South Portland ~ Auction ~MPN - Portland Press Herald 531 Sawyer Street ~ South Portland ~ Auction ~MPN - Portland Press Herald 925 Ossipee Trl ~ Standish ~ $129900 ~Fannie Mae 12 Deer Acres Road ~ Standish ~ $135000 ~HUD 15 Littlefield Rd ~ Standish ~ $153000 ~Fannie Mae 15 Cram Rd ~ Standish ~ $172000 ~Fannie Mae 7 Mast Pine Cir ~ Standish ~ $175000 ~Fannie Mae 425 Richville Rd. ~ Standish ~ Auction ~Keenan 3 Dale Lane ~ Standish ~ Auction ~MPN - Portland Press Herald Pond Road ~ Standish ~ Auction ~MPN - Portland Press Herald Pond Road ~ Standish ~ Auction ~MPN - Portland Press Herald 112 Douglas Hill Rd ~ West Baldwin ~ $109900 ~Fannie Mae 25 Lawrence Street, 42 ~ Westbrook ~ $72171 ~HUD 125 Brackett St ~ Westbrook ~ $75000 ~Equator.com 35 King St ~ Westbrook ~ $95000 ~Fannie Mae 275 Brown St ~ Westbrook ~ $115900 ~RES.net 10 W Pleasant St ~ Westbrook ~ $134900 ~Fannie Mae 205 Forest St ~ Westbrook ~ $139900 ~Equator.com51 Rochester St. ~ Westbrook ~ Auction ~Fine Atty 104-106 Rochester Street ~ Westbrook ~ Auction ~MPN - Portland Press Herald 51 Rochester Street ~ Westbrook ~ Auction ~MPN - Portland Press Herald 54 New Gorham Road ~ Westbrook ~ Auction ~MPN - Portland Press Herald 280 Longfellow Street, unit 3 ~ Westbrook ~ Auction ~MPN - Portland Press Herald 3 Tucker Dr ~ Windham ~ $49900 ~Fannie Mae 412 Pope Rd ~ Windham ~ $69999 ~PAS Reo 28 Whites Bridge Rd ~ Windham ~ $107000 ~Fannie Mae 12 Critter Dr ~ Windham ~ $144900 ~Fannie Mae 99 Swett Rd ~ Windham ~ $149900 ~Fannie Mae 752 River Rd ~ Windham ~ $159000 ~PAS Reo 5 Beaulieu Dr ~ Windham ~ $159900 ~Fannie Mae 119 Chute Rd ~ Windham ~ $175000 ~Fannie Mae 68 Nash Rd ~ Windham ~ $189900 ~Equator.com 545 Roosevelt Trl ~ Windham ~ $202500 ~Fannie Mae 8 Edith Jeffords Rd ~ Windham ~ $209900 ~957160 8 Wanderers Way ~ Windham ~ $275000 ~Fannie Mae 2 Stonebrook Road ~ Windham ~ Auction ~MPN - Portland Press Herald 3 Dutton Hill Road ~ Windham ~ Auction ~MPN - Portland Press Herald 80 Pope Road ~ Windham ~ Auction ~MPN - Portland Press Herald 88 Main Street ~ Windham ~ Auction ~MPN - Portland Press Herald 9 Heritage Lane ~ Windham ~ Auction ~MPN - Portland Press Herald