Happy Memorial Day!

Memorial Day Parades!

FALMOUTH: Begins at 10 a.m. Route is from the American Legion Home on Depot Street to Foreside Road ending at Pine Grove Park for memorial program. After the program, all attendees are invited to St. Mary's Episcopal Church for refreshments.

KENNEBUNK: Begins at 2 p.m. at Town Hall on Main Street with a short band concert. Parade progresses along Main Street and stops on Mousam River Bridge for brief honoring of sailors, then continues to High Street and Route 1 before returning to Town Hall along the same route.

KENNEBUNKPORT: Begins at 9:30 a.m. Route is Temple Street to Maine Street to Spring Street, where parade stops on the Kennebunk River Bridge for a gun salute, then continues to Coopers Corner and returns to Dock Square, where the parade will end with a memorial ceremony.

OLD ORCHARD BEACH: Begins at 1 p.m. Route is Saco Avenue at the Old Orchard Beach Public Safety Building to Old Orchard Street to First Street to Memorial Park.

PORTLAND: Begins at 10:30 a.m. Route is along Congress Street from Longfellow Square (at State Street) to Monument Square, where parade ends with a memorial ceremony.

SOUTH PORTLAND: Begins at 10:30 a.m. Route is Southern Maine Community College to Broadway to the roundabout on Ocean Street. Parade is followed by a wreath-laying ceremony at noon at Bug Light.

WESTBROOK: Begins at 10 a.m. Route is along Main Street from Longfellow Street to Riverbank Park. Parade ends with a memorial ceremony at the park's Dana Monument.

YARMOUTH: Begins at 10 a.m. Route is West Elm Street at Yarmouth High School to Main Street. Ceremony ends parade on Memorial Green in front of Town Hall.

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

Kayak and Dinghy Rack Rentals Now Available @ East End Beach

Kayak and Dinghy Rack Rentals Now Available!
Kayak and dinghy rack rentals are now available to rent at the East End Beach boat launch. Residents can purchase passes at the Department of Public Services, 55 Portland Street, Monday-Friday, 8:00 AM – 4:30 PM.
· Kayak and Dinghy seasonal rack rental fees for residents $200.00, and nonresidents $250.00
· Boat launch seasonal pass rates for residents $50 and nonresidents $100
· Daily launch fees for residents $5, nonresident s$10 and commercial usage $125

Park Rangers supervise the East End Boat Launch during the summer as well as enforce safety regulations for the East End Park. They can also collect boat launch fees (proof of residency for Portland residents is required) at the boat launch during summer hours.

Boaters are reminded that the following acts are prohibited at or near the boat launch: storage of gear on dock; swimming; consumption of alcoholic beverages; boat anchoring; fishing off or near the dock; and overnight parking. Boaters are allowed fifteen minutes for loading and unloading gear on the dock and should park in designated areas. Children under the age of ten years must wear a personal floatation device and be accompanied by an adult. Dogs need to be on a short leash (8 feet or less).

Visitors to the East End Beach are reminded that glass containers, alcoholic beverages, floating devices and fishing is prohibited at the beach. Dogs are permitted off-leash on the beach from 6:00 AM to 9:00 AM and 5:00 PM to 10:00 PM. Please help keep the beach clean by throwing away all trash in proper receptacles.

The East End Bath House with public restrooms will be open mid-May 6:00 AM to 7:30 PM.

The East End Park is closed from 10:00 PM to 6:30 AM.

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

Memorial Day Trash Collection

Memorial Day Trash Collection Change
The Department of Public Services Solid Waste crews will not collect trash or recycling on Memorial Day, May 31, 2010. Residents who normally receive collection services on Monday will have their trash and recycling collected the Saturday before, May 29th. Residents of Peaks Island, Great Diamond Island, Little Diamond Island and Cliff Island will have their recycling and trash collection the following day, Tuesday, June 1st. All items should be out by 6:30 AM to ensure collection. If residents have further questions about their trash/recycling collection, they can contact the Recycling Hotline at 756-8189.
The Riverside Recycling Facility will be closed on Memorial Day as well, and will resume normal business hours on Tuesday, June 1, 2010, 7:00 AM to 4:00 PM.
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

103 New Taxes - Vote June 8th!

Please take a look at the taxes and don't forget to vote on June 8th! Many of the new 100 taxes that would impact Maine homeowners and buyers include: new taxes on moving services, wallpapering, home staging, house cleaning, lawn and garden equipment repair, telecommunications, rug and furniture cleaning, mechanical equipment repair (pumps, generators), interior decorating, house painting, boat moorings, storage unit rentals, and more. The list of new and increased taxes:

1. Auto repair and maintenance labor
2. Snowmobile, ATV repair and maintenance labor
3. Movie Tickets
4. Meal tax increased from 7% to 8.5%
5. Lodging tax increased from 7% to 8.5%
6. Liquor sold at restaurants / bars increased to 8.5%
7. Hired bands for events
8. Hired DJ’s for events
9. Candy tax increased from 5% to 8.5
10. Wash, Dry, Fold laundry
11. Mechanical equipment repair (pumps, generators)
12. Lawn and garden equipment repair
13. Computer hardware repair
14. Office equipment repair
15. Office equipment leasing (copier, postage machine)
16. Service contracts
17. Car Washing and Vacuuming
18. Car Rentals up 25%
19. Telecommunications, 5% tax on service
20. Limousine services
21. $1 pp for taxi or limo to/from airports
22. Jewelry repair
23. Camera repair
24. Gun repair
25. Musical instruments repair
26. Electronic equipment repair
27. Tailoring
28. Shoe repair
29. Furniture repair
30. Dry Cleaning
31. Theater tickets
32. Tickets to lectures
33. Concert tickets
34. Festival tickets
35. Amusement park tickets
36. Water park tickets
37. Tickets to fairgrounds (except Ag fairs)
38. Tickets to race tracks
39. Tickets to carnivals
40. Circus Tickets
41. Sports Tickets (except school sports)
42. Museum Tickets (except non-profit operations)
43. Planetarium tickets
44. Animal park tickets
45. Petting zoo tickets
46. Go-cart courses
47. Paintball
48. Golf driving range
49. Tickets to auto shows
50. Tickets to boat shows
51. Tickets to camping shows
52. Tickets to home shows

53. Tickets to flower / garden shows
54. Tickets to animal shows
55. Tickets to antique shows
56. House cleaning
57. Furniture cleaning
58. Rug cleaning
59. Wagon and haunted hay rides
60. Sightseeing bus tours
61. Aircraft sightseeing
62. Helicopter rides
63. Hot air balloon rides
64. Sightseeing boat tours
65. Sightseeing railroad tours
66. Trolley tours
67. Comedians
68. Hired clowns for kids parties
69. Jugglers and Ventriloquists
70. Bar cover charges (if band is playing)
71. Diaper services
72. Embroidery and monogramming
73. Pressure cleaning and washing services
74. Aquarium tickets
75. Tickets to historical sites
76. Tickets to convention centers
77. Miniature golf
78. Billiard parlors
79. Picture framing
80. Whitewater rafting (unless on federally navigable waters)
81. Interior decoration, wall papering and painting a home
82. Home staging for real estate
83. Meal preparation
84. Butchering
85. Art and photograph restoration
86. Rental of storage units
87. Moving
88. Vehicle towing
89. Boat mooring
90. Service provided by Maine Guides
91. Use of photos (leased)
92. Adult entertainment (aka exotic dancers)
93. Motor repair on a boat (if not attached to boat)
94. Expanded list of “soft drinks” (Gatorade, vitamin drinks)
95. Courier Services
96. Daily rentals of tuxedos and gowns.
97. Daily rentals of Ski equipment
98. Rental of safe deposit boxes
99. Pet training
100. Pet sitting
101. Pet grooming
102. Pet boarding
103. Pet exercising

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

This Summer, Keep Cool and Cut Energy Costs!

This Summer, Keep Cool and Cut Energy Costs - a win-win for everyone!

Summer is approaching, which likely means higher electric bills as people turn on fans and air conditioners to help keep cool. Demand for electricity can also increase if you have house guests or children home for the summer. The following tips can help you plan ahead and control energy costs:

-- Use ceiling fans in the counter-clockwise direction to create a wind-chill effect, making you feel cooler. Also, whole-house fans that bring in cooler night-time air can pre-cool a house and reduce energy use in the daytime if heat is kept out by closing windows and shades.

-- Install a programmable thermostat. If health conditions permits, raise the setting from 73 to 78 degrees. You can save 3 to 5 percent on your air conditioning costs for each degree you raise the thermostat.

-- Close doors leading to uncooled parts of your home. If you have central air conditioning, close off vents to unused rooms. Keep filters clean.

-- Plant shade trees close to the house on the South and West sides.

-- Seal holes and cracks around doors and windows. Eliminate air leaks between window air conditioners and windows with foam insulation or weather-stripping.

-- Turn off power sources. Did you know that TVs, computers and other electronic devices draw power when they are in standby mode or turned off but still plugged in? Try plugging electronics into power strips and turn off the powerswitch when the items are not in use.

-- Switch to compact fluorescent light bulbs (CFLs), which use 75 percent less electricity and burn more coolly than incandescent bulbs.

-- Use timers and motion detectors on indoor and outdoor lighting.

-- Delay heat-producing tasks such as laundry until later in the day. Wash full loads, using cold water whenever possible.

-- Run the dishwasher at night, using the shortest cycle that will get the dishes clean. Try turning the dishwasher off before the dry cycle or use the air dry feature if your machine has one.

-- Take short showers. They use less hot water than a bath.

-- Replace old appliances with new energy efficient Energy Star appliances.

-- Unplug the extra refrigerator in your garage or basement and use it only when necessary. Refrigerators that are only 10 years old can use twice as much electricity as new Energy Star labeled models.

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

Back Cove Rain Garden Planting

Back Cove Rain Garden Planting Event June 5th

Calling all green thumbs! Next month, the City of Portland and Stantec Consulting will sponsor a planting event for the Back Cove Rain Garden. Volunteers can be a part of the city’s efforts to clean our natural water systems by getting their hands dirty. Just bring work gloves and simple garden tools if you have them, the rest including snacks will be provided. Arborists and landscape installers will be on site to lead teams of volunteers in proper planting techniques.
A rain garden or bio-retention cell serves as a natural decontaminator of polluted water run-off. Built in a shallow area lower than the surrounding land, rain gardens use the natural capacities of soil and vegetation to retain, cleanse and infiltrate stormwater before it enters a natural body of water like the Back Cove. Stormwater - polluted with oil, grease, metals, sediment, and nutrients from pet wastes, decomposing yard wastes, and other sources – is a serious issue and has negatively impacted a number of Portland’s natural water systems including the Back Cove. Runoff flows directly into the Back Cove from surrounding impervious areas such as parking lots, roadways, paved driveways, and rooftops. The Back Cove Rain Garden is a part of the city’s long term efforts to address polluted water run-off.

The construction for the demonstration project, located near the parking lot at Preble Street Extension, is expected to be complete by the beginning of the summer. A number of other local businesses have stepped forward to donate materials needed for the project including George Roberts, Etheridge Foundry, Gorham Sand & Gravel, R.J. Grondin & Sons, A.H. Harris & Sons, Inc., Jones Associates, Inc., Casella/New England Organics, Summit Engineering, Licht Environmental Design, LLC Gagne & Sons, Precast of Maine, Ferguson Waterworks and local nurseries.

To learn more about the city’s efforts to address stormwater pollution, visit the city’s website at http://publicworks.portlandmaine.gov/capisicbrookwatershed.asp.

For information about the planting event or to RSVP, contact rlicht@securespeed.net.

WHEN: Saturday, June 5, 2010
8:00 AM – 2:00 PM
WHERE: Back Cove Rain Garden
Parking lot adjacent to Back Cove Trail,
Preble Street Extension, Portland

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 West End Listing

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

Seven Tips to Profitable Investing in Foreclosures

Have you been thinking of investing in a foreclosed home? The game plan sounds simple enough: purchase a foreclosure at pennies on the dollar, cover the mortgage by renting the property to tenants, and then sell it at a tidy profit when the economy recovers.

Unfortunately, when it comes to buying foreclosures, "things are not as simple as they appear," says Jim McClelland of Mack Companies, a Tinley Park, Illinois firm with a portfolio of 365 previously bank-owned homes under management.

McClelland knows foreclosures: he buys two or three each week. Most of his homes are located in Chicago's south and west suburbs, such as Dolton, Olympia Fields, Homewood and Glenwood. Mack's in-house contractors redevelop these often badly run-down homes so that they can be rented out.

Foreclosures can be either a financial boon or a boondoggle. To help smooth out the inevitable bumps in the road to real estate riches, McClelland offers this advice:

1. You are investing in a community, not just a home. The neighborhood in which the foreclosure is located will ultimately determine its long-term appreciation. Before being lured in by a low price, do your homework. Is the town investing in new infrastructure, roads, schools, libraries and public parks? Is the downtown area thriving or declining? Bottom line: if the local government or businesses are not investing in the town for the long-term, neither should you.

2. Stick to REOs: A "Real Estate Owned" (REO) property is a safer way to purchase a foreclosure. Unlike a home sold at auction or purchased during pre-foreclosure, its title is held by a bank or lender; there are no other liens against the property. While an REO's price discount is typically less than a foreclosure sold at auction, there is also less financial risk. Inspections are allowed. No evictions are required. Plus, the bank will see that the property is cleaned out before you take ownership, saving you potentially thousands of dollars in labor cost and dumpster rentals.

"Investors should know that homes sold at public auctions are the leftovers of an inventory picked over by professionals," warns McClelland. "Buying one sight unseen is a gamble."

Read more HERE at RIS Media

Secrets to Keeping Your Credit Score High

A happy consequence of this Great Recession is that Americans are widely expected to be better consumers.

That means we'll only take on loans that we can afford, pay off credit-card debt at the end of each month and sock money away. It also means our credit scores will reach what the industry calls super prime, the top score achievable.

Or will they? Turns out our scores are not just a reflection of our ability, or lack thereof, to pay on time, but they tell a story of how we run our lives. If there's a blip in that story, say a 30-day late payment, the red flags pop up and all those years of paying dutifully can fall flat quickly.

Much attention has been focused on credit scores during this recession as consumers have struggled to keep up with their mortgage payments and revolving debt. Many consumers — even those who have long had outstanding credit ratings — have complained that their scores have fallen as credit-card companies slashed limits and closed inactive cards.

But people shouldn't worry so much about their scores, according to experts. "It's less about the score than it is about the information that's contained in the report," said Steve Katz, senior director of consumer education for TransUnion. "The score is only a reflection of what's in the report."

The most important information in your credit report is your bill-paying history. It bears repeating: Pay your bills on time every single month. A whopping 35 percent of your FICO credit score is tied to that payment history.

Another 30 percent of your score is based on your outstanding debt. Lenders expect you to use credit cards but to do so prudently. If you have three credit cards with a total of $30,000 in available credit, they will look at how much of that you're using. That's called your utilization rate. Don't max those cards out. In fact, don't even come close to it.

Figuring out your utilization rate is easy math. Add up all your outstanding balances and divide by your total credit limit, which should produce a number less than 1. If it hits 1, you're maxed out.

Most credit experts, including the credit bureaus, will advise you to keep your credit utilization under 30 percent of the total limit.

Read more HERE at RIS Media

Be Choosy with Home Improvement Projects

Homeowners looking to upgrade or sell their home this spring should realize that not all remodeling and renovation projects will yield a full return on their investment, said the president of the Appraisal Institute. The Appraisal Institute is the nation's largest organization of real estate appraisers.

"When it comes to home improvement projects, especially in today's economy, not every renovation or remodeling effort will pay off when the owner sells their home," said Appraisal Institute President Leslie Sellers, MAI, SRA. "Consumers need to be aware that cost does not necessarily equal value."

For consumers looking to upgrade and possibly sell their houses this spring, Sellers has put together a quick list of advice that real estate appraisers often share with homeowners.

• Emphasize the essentials over the extras by investing in basic upgrades, such as fresh paint (use neutral colors) and new fixtures.
• Know that curb appeal is vital; exterior projects can sometimes provide a greater return on investment than interior projects.
• Avoid over-improvement by sticking to what's proportional in your neighborhood.
• Consider adding a bathroom, bedroom or renovating the kitchen, which are appealing features for home buyers.
• Projects that add square footage to bring a house up to - but not significantly beyond - community norms typically yield good returns.

Sellers also recommends that homeowners who are serious about knowing their home's value hire a professional real estate appraiser. Appraisers can help by providing honest, ethical valuation advice regarding which renovation projects will yield the greatest return on investment.

"Smart financial choices start by knowing what's standard in a community and how to improve a home so that the homeowner can maximize return on investment while limiting liabilities," Sellers said. "Getting accurate knowledge of how different improvements can impact the value of your property is where hiring a professional real estate appraiser with local market knowledge can help determine which home renovations make the most dollars and sense."

Appraisers provide unbiased, data-supported opinions of value that are governed by a federally-mandated professional code of practice. An appraiser can help a homeowner consider different renovation options by conducting a feasibility study, in which the appraiser will analyze the homeowner's property, weigh the cost of rehabilitation and provide an estimate of the property's value both before and after the improvement.

Originally posted HERE at RIS Media

Building for the Future

In addition to the basics of being eco-friendly—recycling and consuming less—consider using products and materials that last longer and create less waste from the beginning. The best place to start is with products intended to last lifetimes—homes and commercial buildings. Whether you are able to construct a sustainable and efficient home from the ground up or need to make adjustments to your current residence, there are considerate options for every situation.

Now that new construction has slowed, it’s the perfect time to evaluate the materials and methods available for future buildings. To encourage and enforce standards for new building, the U.S. Green Building Council developed LEED, which stands for Leadership in Energy and Environmental Design. According to the USGBC Web site, the program is aimed at providing standards and improving performance with “energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and stewardship of resources and sensitivity to their impacts.” This program provides an excellent frame of reference, especially for individuals purchasing new homes or hiring builders. Another effective certification program that builders are working with is the National Association of Home Builders’ Certified Green Professional designation, or CGP for short. While LEED recognizes building practices for both commercial and residential buildings, this program is geared specifically toward homes.

When in the process of building a sustainable home, it is important that you meet with an architect or developer who considers the natural landscape of the property. The design should take into account the home’s relationship to the sun, the land, and the climate. By working with the property’s natural landscape, you can take advantage of solar heating, runoff water, and natural cooling sources. Alternatively, it can be best to install a synthetic material in place of a natural resource. When working with the exterior of the home, you can install a synthetic lawn to conserve water. It may not be traditional, but it’s still a beautiful way to finish dressing a sustainable home, and the forward-thinking approach is anything but traditional. Simple tactics to help avoid extra electricity output will improve the situation for the environment and your wallet.

Read more HERE at Your Home and Lifestyle

Less is More

Amid the rolling hills of Hunterdon County, New Jersey, historic Tewksbury lies nestled among horse farms, covered bridges, old mills, and some of the most beautiful natural scenery in the Northeast. A designated conservation area, the exclusive enclave retains much of the quaint charm of its past, with Victorian houses and stone lodges scattered throughout the countryside.

But on one twelve-acre estate, situated in a wetland forest, a sleek, modern home emerges from the landscape. Homeowners Roseann and Jim Orefice fell in love with the land. The 1960s-era house, however, was in need of some updating—and Roseann’s primary focus was the kitchen.

“The kitchen is the very heart of this house,” Roseann says, “and in the existing space, there was no official dining area. So it was important to work out issues not only of design, but functionality and storage, too.”

So they called upon Amir Ilin, president of Küche+Cucina, a prominent design firm specializing in kitchens and baths.“Our first challenge was in defining the space,” says Ilin. “This modern home needed a modern kitchen, but the space and some of the architectural features were working against us.”

The original kitchen was very small, so Ilin took down a wall and opened up the space to accommodate one large cooking and entertaining area. With nine hundred square feet to work with, the next task was creating a natural flow—and plenty of storage. A large J-shaped island was proposed, but the unusually situated kitchen skylight necessitated a revision in the floor plan.

“Because the skylight wasn’t centered in the space, we needed to change the layout,” Ilin says. “So we created two separate islands and offset them slightly.”

One island, with its stainless steel surface over highly polished ebony laminate, is used as a food prep area, and the second island, topped with shimmering glass, provides comfortable seating for five. Their creative configuration adds to the elegant appearance of this sleek, sculptural kitchen, which looks more like a modern art museum than a cooking area.

Read more HERE at Home By Design

4 New Listings from The Hatcher Group!

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

"IT'S A SMALL WORLD AFTER ALL..."

That sentiment was definitely felt in the financial markets last week, as the problems in Europe continue to dominate the headlines and influence market direction around the globe. So what exactly is going on...and what does all of this mean for our economy and for home loan rates? Read on for details.

Due to financial instability in several countries in Europe - including Portugal, Ireland, Spain, and most notably, Greece - the European Central Bank along with the International Monetary Fund unveiled a $955 Billion loan package. Additionally, in a plan similar to our TARP plan in the US, the European Central Bank will purchase Bonds and private debt from the countries facing instability.

However, it seems that nearly a Trillion dollars doesn't go very far these days, as the announcement didn't lead to the confidence that was hoped for. There is concern about how these already financially strapped countries will pay for all this additional debt, along with skepticism over whether Greek austerity measures will take root...and many wonder if the European bailout plan is just a temporary band-aid rather than a solution.

The result continues to be a weaker Euro, as you can see in the chart below. At $1.24 per each Euro, the price is well off where it was a few months ago, when it cost nearly $1.60 for each Euro.

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Chart: Euro versus the Dollar

Why is this important? When the Dollar was weaker, it made our imports more costly and travel to Europe more expensive. But it also made our exports far more attractive to foreign purchasers, and that has helped many of the large multi-national US corporations. As this situation is now reversing, it will likely have an adverse effect on those same multi-national corporations - which has contributed to some of the decline in Stocks we have seen.

However, because it is a small world, with many factors influencing markets, a factor that could hinder this benefit is growing inflation in China. Inflation in China could spill into the US, as the increased cost of their goods could translate into higher import prices we will pay for their products. And inflation is the arch enemy of Bonds and home loan rates, so this will be important to watch as well.

As if that weren't enough activity from around the world to keep up with, the massive added supply of debt coming into our markets from our own Treasury auctions...which can also adversely impact Bonds and home loan rates...can't be ignored, either.

After all the news of the week and much volatility, Bond prices and home loan rates ended the week about the same as where they began. Remember that with the news coming in fast and furious from around the globe - you can always count on me to keep you informed, and I look forward to talking with you or hearing from you anytime.

We'll get a double dose of inflation news this week, with Tuesday's Producer Price Index, which measures inflation at the wholesale level, and Wednesday'sConsumer Price Index. As mentioned above, inflation is the arch enemy of Bonds and home loan rates, and any hint of inflation in these reports could impact the markets.

Housing, manufacturing, and job news are also in store this week, with Tuesday's Housing Starts and Building Permits Reports (which give us an update on the health of the new construction sector of the housing market) and Thursday's Philadelphia Fed Report (which gives us an update on the manufacturing sector) and the weekly Initial Jobless Claims Report.

Initial Jobless Claims numbers have remained stubbornly high and somewhat contradict the recent positive tone of the past couple of Jobs Reports. The most troubling numbers in the report are the additional 5.13M people claiming EUC (Emergency Unemployment Compensation), which are benefits lasting longer than 26 weeks, up to 99 weeks in total. This is an enormous drain on the economy.

Use the Basement to Add Living Space, Resale Value To New Homes

Builders looking to meet the needs of home buyers should start looking below ground level when constructing new homes.

According to the “What 21st Century Home Buyers Want” survey of customer preferences conducted by the National Association of Home Builders, the inclusion of basements in new homes has been on an upward rise since 2000. Homes being built on slabs are declining, as homeowners find more value in basements both during their occupancy of the home and at the time of resale.

“There’s nothing like a well-insulated basement that can serve as valuable living space to pop the eyes open of a potential homebuyer,” says Tina Fountain of Tina Fountain, Realtors® in Atlanta, Georgia. “You can see the wheels start turning in a homebuyer’s mind as they quickly calculate what they can do with the ‘bonus space.’ A good basement takes the pressure off the other living areas in the home and opens up a world of possibilities for potential homebuyers.”

The same survey by NAHB indicates that married couples with children and high-income households are generally looking for a full basement. What features are potential buyers looking for in a basement? Energy efficiency, natural light and outdoor access.

“These days selecting energy efficient products is a strong and growing trend in all aspects of construction,” says Jim Costello, president of Superior Walls®. “In the basement, that means requesting a foundation system with reinforced concrete wall panels with a significant amount of insulation to help reduce energy bills.”

Old Basements Vs. New Basements
Seen as a high-value feature of a new home, basements have advanced significantly since the time of low ceilings, cobwebs and damp areas. While the basements in today’s homes may still be used for storage and laundry, you’re more apt to find them converted into true living spaces --- serving as bonus rooms, children’s play areas and home offices.

“Builders can set themselves apart by thinking ahead to maximize the basement area of a home,” says Costello. “We’ve created and installed thousands of custom-designed, damp proof foundations for homes nationwide during the past three decades. These pre-cast insulated foundation systems help homeowners save on energy bills and allow them to fully utilize their basement space as functioning and comfortable living areas in the home.

“Including a warm, dry basement in new home construction is a positive step builders can take to set themselves apart from the competition in the current housing market. In many locations, an integrated basement that serves as additional living space is a key factor to the success of a builder.”

Short Sale Myths De-Bunked

With short sales making up almost 35% of home sales in March and the country with a national foreclosure problem, I Short Sale, Inc., one of the largest short sale firms in the U.S., sets the record straight on common short sale myths.

1. You must be default on your mortgage to negotiate a short sale. Short sales are not a function of default status on a mortgage. They are the result of the bank mitigating a potential default situation that, in the long run, will cost more money to the investors. We have completed many short sales in instances when the borrower was not in a default situation.

2. Listing my home as a short sale is embarrassing. Anytime we get ourselves into a tough financial situation it can cause some embarrassing feelings. It is important to remember that those feelings will not help us get back onto stable financial ground. We need to overcome our feelings and do what is right to protect our financial futures.

3. Buyers aren't interested in short sale properties. Short Sale properties are often times available at a competitive price to other properties on the market. In many cases, short sale properties are very well cared for and have not had to endure the deferred maintenance of a REO property. Short Sale properties are in great demand in the marketplace.

4. There's not enough time to negotiate a short sale before foreclosure. A good negotiator takes into account the timeline affiliated with a foreclosure. There is always a chance that a short sale can be negotiated. However, the only way to know for sure is to try.

5. The bank would rather foreclose than complete a short sale. Banks do not want to foreclose on property. It is expensive and carries a high level of liability once the bank owns that property as an REO. Wherever possible, banks are seeking other loss mitigation options before foreclosure.

6. Short sales are impossible and never get approved. Short sales are complicated, but not impossible. We negotiate short sale approvals every day.

Short Sales 101

As distressed properties continue to dominate the real estate landscape, real estate agents across the country are continuing to adapt their services to better help the millions of homeowners who are facing foreclosure and other serious trouble. Here, Rosemary West, The Rosemary West Team, RE/MAX Realty in Joliet, Illinois, discusses the short sale process and how agents can make it work.

In the simplest terms, short sales are a last hope for people looking to avoid foreclosure. The market that we are experiencing today is full of homeowners who are truly hurting and they don’t know where to start or who to turn to. Short sales, although not an ordinary transaction, are a good alternative for sellers who are either in a foreclosure already, or are headed toward one. It is crucial that real estate professionals take the time to understand that these are real families on the verge of losing their home.

The biggest advantage to offering a short sale is that it helps the distressed homeowner avoid a foreclosure, which is crucial since foreclosures are one credit item that are almost impossible to repair. Foreclosures stay on your history forever and affect your credit score as well as your present employment and the hiring process for a new job.

Read more HERE at RIS Media.

Going Green - The Way of the Future

As Americans continue to put an emphasis on creating as green a lifestyle as possible, real estate professionals across the country are doing their part to explore the benefits of building a green home with their clients. While many homeowners have begun to fill their homes with energy-efficient products, building green homes from the ground up is becoming a more prominent trend.

Carl Seville, Owner, Seville Consulting in Atlanta, Georgia believes that the four main precepts behind the process of building green include that homes be energy efficient, healthy for the occupant, durable and resource efficient. “All of these concepts interrelate, as a lot of things that make a home energy efficient will make it healthy and resource efficient as well,” says Seville. “While green building is only going to become more mainstream as the years go on, it is crucial for real estate agents to be aware of the possibilities of green building in order to help their clients understand the ease of reducing their carbon footprint,” he adds.

Green building is a fairly well-established building principle that anyone can employ with the proper training, and almost any home can be made green. “The key thing to remember is that green building is not about products and materials, instead it is a process,” says Seville. “While there are very few materials that can’t be part of a green home, it is crucial that the home is built correctly before green products are implemented,” he adds. While green building is still considered to be in its early stage, agents who take the time now to learn about green features and their advantages will have the upper hand when working with clients who are interested in energy efficient homes. “Being aware of the green features within a home will enable agents to market homes effectively to clients looking for energy efficient features,” adds Seville.

Read more HERE at RIS Media.

PSO Presents Patriotic Pops for 4th of July Celebration

The four Portland-area businesses that earlier this month banded together to save the Portland fireworks after the annual tradition was threatened due to city budget cuts, the Portland Press Herald, Quirk Chevrolet, Wright Express and the Maine Red Claws, this week announced the creation of a festival on the Eastern Promenade leading up to the fireworks display and a nonprofit organization to privately fund the event. Headlining the Stars and Stripes Spectacular will be a free concert by the Portland Symphony Orchestra, led by conductor Robert Moody, with support from the Boston Musicians Association.

The Patriotic Pops concert will be sponsored in part by support from Unum, Coca-Cola Bottling Company of Northern New England, PowerPay, Seacoast RV, MPBN, and the Boston Musicians Association. The PSO concert, to be named the Patriotic Pops, will begin at 7:30 PM on Sunday, July 4 and run through the beginning of the fireworks display, slated to begin at approximately 9:15 PM. The concert will be broadcast live statewide by MPBN radio so that the thousands of people watching the fireworks from outlying areas and on boats in Casco Bay, as well as the crowd of more than 50,000 expected to gather on the Eastern Prom, can tune in to listen to the concert live.

A limited number of tables of ten will be located in front the concert stage. Corporations or individuals interested in more information regarding purchasing the reserved seating should visit www.july4thportland.org. The tables will be available on a first-come, first-served basis and will be the only reserved seating available for the Patriotic Pops concert. Other details and events for the July 4^th festival will be announced soon, including the addition of children’s entertainment earlier in the evening and special guests.

The sponsors also announced the development of a nonprofit organization to privately fund the Stars and Stripes Spectacular, including the annual fireworks display and newly created festival. The July 4^th Portland Foundation will be a 501(c)(3) nonprofit that will solicit donations to insure that Southern Maine’s July 4^th traditions continue for many years to come. The July 4^th Portland Foundation will work in partnership with City of Portland in coordinating the event to insure that the fireworks and festival are conducted safely and for the full enjoyment of the 50,000 – 70,000 spectators expected to attend. For more information, visitwww.july4thportland.org.

Five Financial Tips to Keep You on Track

With the economic hurdles over the past 18 months, it’s easy to see how some people may have lost their financial way.

Rather than making drastic changes, sometimes the best route to financial security is setting small, yet achievable goals.

Here are five ways to keep your finances on track, according to smartypig.com:

Know your credit score
Good credit is the foundation for achieving financial goals. It's crucial to stay on top of your score. Services such as Equifax can tell you where you stand. If outstanding debt has lowered your score, start paying it down, prioritizing high-interest debt.

Define specific savings goals
General savings accounts are great, but experts say that saving is easier with specific goals because you visualize the prize rather than the process.

Cut up credit cards
According to Experian, the average consumer carries 4.5 pieces of plastic—4.5 potential paths into debt. By eliminating extra cards, you limit opportunities to spend money you don't have. Start with cards that have high rates or punitive fees—then use your scissors! Canceling cards can impact your credit score; cutting them up makes them just as inaccessible.

Increase your 401k by 3%
You already know that you should contribute as much as possible to your 401k retirement savings plan—especially if your employer matches. An easy way to boost that savings is by increasing your contributions by a minimum of 3% each year. As your career progresses and your salary increases, it's unlikely you'll miss the money.

Make a date with your finances
Most of us are too busy to tackle anything but the most necessary financial assignments. Set aside time for crossing items off your financial to-do list. Do what works for you whether it’s annual, quarterly or monthly appointments, though it helps to schedule this time when banks and other institutions are open. Time spent finding high-yield savings accounts, better insurance plans, and no-fee cards results in money in your pocket.

Originally posted HERE at RIS Media

"You bring me up and down!"

While Janet Jackson was singing about love and relationships, investors around the world could surely relate during last week's push and pull of wildly erratic markets. And we could be set up for an encore performance in the week ahead as anxiety persists in the European financial system. The drama began on Monday when news of a pending bailout package for Greece sent Bonds lower, as investors pulled out of this "safe haven" and started looking toward stocks. The very next day Stocks were back down, and Bonds were pushed up and out of their trading range, as 40,000 Greeks took to the streets to protest details of the bailout plan. Capping off the week of volatility was Thursday afternoon's Stock Market freefall scare, during which the Dow plummeted 998 points then recouped more than 600 points - all in the span of 15 minutes. Thursday's mysterious event, characterized as a "near-panic", may have been caused in part by a wave of electronically submitted sell orders being executed at a mind-boggling pace. Remember, a majority of trading in the markets is done by computer. With Stock prices down significantly, many computer triggers for sell orders were hit. These triggers began executing sell orders at "market price." With the enormous flood of market sell orders coming in, bidders pulled back, so there were very few bids to satisfy the sell orders. In such situations, the computer will keep seeking out the next available bidder in an effort to fill the order...no matter how low that bid is. One extreme example was the trading of Accenture (NYSE: ACN) stock, which went from $40 down to $0.14 (yes, 14 cents), then came all the way back to close at $41.09. The Bond market, which generally has an inverse relationship to Stocks, responded to these tug-of-war pressures and events with exaggerated ups and downs. Counteracting some of the international angst last week was some positive domestic data and increasing sentiment that the US economy is improving. n the end, strong domestic economic data, like Friday's better than expected official Jobs Report, was overshadowed by the drama in Europe and received less fanfare than it deserved. According to the Labor Department, 290,000 jobs were created in April, well ahead of estimates for 187,000 new job creations. The increase was the biggest rise since March 2006. Overall, non-farm payroll employment has expanded by 573,000 since December, with the vast majority of the growth occurring during the last two months. Despite the job growth, the Unemployment Rate ticked up from 9.7% to 9.9%. The main reason was an increase in the labor force of 805,000. That's because unemployed individuals who do not look for a job for four weeks are removed from the labor force. When those people move back into job search mode, they are counted again - which can cause the Unemployment Rate to rise even when more jobs are being created. This Week- The markets will open on the heels of Friday's late night meeting of euro zone countries. There, leaders signed off on a support package for Greece, pledged to take steps to stem the spread of a "systemic" debt crisis and scheduled an emergency Sunday meeting of all 27 European Union finance ministers in hopes of quelling more turmoil on Monday. It will be interesting to see how emerging details of their plan to create a European stabilization mechanism will affect the markets in the days ahead. On the economic report front, this week will start out slowly. In fact, the first major economic report will be Wednesday's Balance of Trade reports on exports and imports. Remember, a negative balance of trade - or a deficit - occurs when imports surpass exports. Rising deficits can be reflective of increased consumption, which can be a sign of a strengthening economy. On Thursday, we will get another look at Initial Jobless Claims, which came in slightly above expectations last week but was still 7,000 lower than the previous week. The markets will be watching this report to see if the trend lower continues. The week caps off on Friday with a host of reports on Industrial Production, Capacity Utilization, Consumer Sentiment and the big report on April's Retail Sales. In addition to these reports, and the continuing European saga, this week's Treasury Department auctions may also affect the markets. The government will auction $38 Billion in 3-Year T-Notes on Tuesday, $24 Billion in 10-Years on Wednesday, and $16 Billion in 30-Year Bonds on Thursday.

New Construction in Standish

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 Westbrook Listing from The Hatcher Group

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

Real Estate Confidence Index Rises in April, Tech Survey Says

Point2 Technologies recently released the results from its Real Estate Confidence Index (RECI) survey for the month of April that indicate improved market conditions and forward looking sentiment amongst real estate brokers and agents around the United States, with uncertainty over the longer term weighing in on the Index.

The RECI, a real estate market leading indicator that tracks broker and agent forward looking confidence and market opinion nationwide rose for the second month in a row.

For April 2010, the RECI recorded a 5.82 (+0.87 %) reading on the RECI scale of 1-10 (1 being ‘bad’ and 10 being ‘good’), up from 5.77 in March (+2.49%).

March results were underscored by a jump of 27% in new home sales for that month, as reported by the Commerce Department, and a 6.8% rise in existing home sales, according to the National Association of Realtors’ report.

The Current Sentiment variable within the RECI, one of three components that make up the monthly Index, rose to 5.30 (+5.16%) for the April period. Positive sentiment amongst survey respondents was fueled by improved current market conditions, with increased sales activity in the low to mid price range properties category remaining the common denominator.

RECI survey participants pointed to the looming tax credit expiry on April 30, 2010 as the key driver for increased sales, with more agents in more states including Florida, California and Hawaii reporting multiple offer and bidding war occurrences than the month before. Some sales professionals also cited increased investor activity.

The current federal government program offers home rebates of U.S. $8,000 for new home buyers and US $6,500 for existing home buyers when moving up.

Lack of sufficient inventory in the lower, active price categories in several of the ‘hot’ markets was seen as a key issue that could be inflating prices. A number of respondents indicated that more foreclosure inventory is likely being withheld by the banks and is expected to go on the market in the future, which in turn respondents anticipate will apply renewed downward pressure on prices.

Read More HERE at RIS Media.

New Westbrook Listing from The Hatcher Group

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

Pending Home Sales on an Upswing

Pending home sales increased again in March 2010, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®. The Pending Home Sales Index (PHSI) forward-looking indicator based on contracts signed in March, rose 5.3% to 102.9 from 97.7 in February, and is 21.1% above March 2009 when it was 85.0; this follows an 8.3% increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.”

The PHSI in the Northeast declined 3.3% to 75.1 in March but remains 27.2% higher than March 2009. In the Midwest the index increased 1.2% to 98.9 and is 18.5% above a year ago. Pending home sales in the South jumped 12.7% to an index of 121.2, which is 28.3% higher than March 2009. In the West the index rose 1.9% to 99.9 and is 8.8% above a year ago.

“Another encouraging sign is the improvement in the availability for jumbo and second-home mortgages,” Yun said. “As bank balance sheets strengthen, it is just a matter of time before lending of non-government-backed mortgages steadily opens up.”

The National Association of Realtors, “The Voice for Real Estate,” is one of America’s largest trade associations, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Read More HERE at RIS Media

They say "the only constant is change..."

They say "the only constant is change...", yet last week's meeting of the Federal Open Market Committee ended without any major changes...no change to the Fed Funds Rate, and no change to the now-famous verbiage in their Policy Statement, stating that rates will remain low for an "extended period" of time. While the Fed does not control home loan rates, what does all this mean for those seeking home financing in the months ahead?

here are two important things to note about last week's Fed meeting. First, despite strong earnings, a stronger Stock market, and better consumer confidence and housing numbers, St. Louis Fed President Thomas Hoenig remains the lone dissenter to the verbiage in the Policy Statement on keeping rates low for an "extended period." He feels that there is a strong risk of inflation ahead...and that the Fed needs to prepare the markets for the eventual hikes that will be coming to the Fed Funds Rate. When the Fed does indeed change this language, it will signal that the Fed has a consensus on inflation being a threat...and since inflation is the arch-enemy of home loan rates, the change in verbiage will cause rates to move higher.

In addition, the Fed made no mention in their Policy Statement about selling any of their Mortgage Backed Security (MBS) holdings - and the added supply coming into the market will also cause home loan rates to rise. That said, the Fed may have discussed the topic during the meeting, and it could come up when the Meeting Minutes are released. There is growing concern that if the Fed doesn't begin selling some of these MBS holdings by 2011 that additional asset bubbles may arise. It's likely that the Fed will look to sell a meaningful chunk by year end, and this will be yet another headwind for home loan rates during the coming year.

In other news, Consumer Confidence rose sharply in April, to its highest reading since September 2008. This number is important because the more confident that consumers feel...the more likely it is that they will help fuel the economy. Also, the Commerce Department's Gross Domestic Product Report indicated that the economy grew for the third straight quarter, despite the report coming in slightly below estimates. Inflation readings within the report remained tame, giving the Fed cover to keep interest rates low, with inflation appearing to be subdued. But inflation concerns can arise quickly, and although the Fed is not acting just now...we can be sure they are watching very carefully.

Greece was still the word last week, as Standard & Poor's Bond rating agency downgraded the debt of Greece to "junk" status. The lack of confidence in Greece's ability to repay their debt has pushed yields on their 2-Year Notes up to a whopping 18% to try and incent investors - and by way of comparison, our own US 2-Year Notes are yielding just over 1%! This is why credit downgrades are such a concern, and why the warnings from Moody's about the US overspending must be taken very seriously.

There has been much greater volatility in the Bond market lately, with large price swings in both directions. It's no coincidence that the volatility increased just after the Fed exited their buying program. While concerns about Greece have caused some investors to lose some confidence in European debt instruments, and move their holdings over to US securities, which are viewed as a safer bet, the situation is fluid and there's no telling how much and for how long Bonds and home loan rates will benefit from the situation. Overall - the mix of news and market activity benefitted Bonds and home loan rates last week, improving to better levels over the week prior.

Rates Are Down!

30 year fix = 4.74% with 0 points

15 year fix = 4.125% with 0 points

FHA & VA 4.75% with 0 points

FHA & VA Low to Moderate Income Buyer 4.25% with 0 points

City Clerk's Office Open Saturday for Absentee Voting

The City Clerk's office will be open this Saturday, May 8^th from 8:00 AM to noon for absentee voting and voter registration for both Tuesday’s School Budget Validation Election and the statewide June 8^th election.

For the May 11^th election, Portland voters will be asked two questions: “Do you favor approving the Portland School Budget for the upcoming school year that was adopted at the latest City Council budget meeting? Do you wish to continue the budget validation referendum process in Portland for an additional three years?” Maine’s School Administrative Reorganization Law requires all school districts to hold elections for approval of their budgets. The budget must be approved by a majority of voters. Detailed information about the school budget may be found on the Portland Public Schools Web site at www.portlandschools.org .

Absentee ballots are available upon request and can be returned to the City Clerk’s office in City Hall now between the hours of 9:00 AM and 4:30 PM. Residents can register to vote in person at the City Clerk’s office or at their polling place the day of the election. All local polling places will be open from 7:00 AM to 8:00 PM Tuesday, May 11^thand Tuesday, June 8^th. For more detailed information about where or how to vote, contact the City Clerk’s office at 874-8677.

PLEASE NOTE – Polling places have changed. Voters can also check online to locate their polling place, http://www.portlandmaine.gov/voter/pollplace.asp.

New Listing from the Hatcher Group

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

First Friday Art Walk

For those of you who have been following the development of The Gallery at Harmon's and Barton's, this First Friday celebrates our second year anniversary that the store stayed open for First Friday!! On Mother's Day weekend of 2008, we stayed open for the First Friday activities for the first time. The Gallery upstairs was not open yet and we didn't have a visiting artist yet, but we highlighted the talent and creativity of our floral designers, and, thanks to all of your support and encouragement, the rest, shall we say, is history! It has been alot of work to change out artists every month, but we've had so much fun and have met some of the most interesting, unique and amazingly artistically devoted people through these two years!

In the past couple of months, we've chosen to branch out a little in the mediums that we've brought into The Gallery. This month follows that venue. Designer, Denise Adams, brings her love of color and respect for recycling to The Gallery in the form of stunning contemporary stained glass windows in antique window frames. Each piece is a one-of-a-kind treasure and we are so proud and pleased to present this first gallery showing for Denise! In addition, special mention goes to Denise's husband, Tim Myers, for his creativity in the installation of her art, and to Dave Collins, friend and favorite electrician, for his special electrical touches to enhance the windows!!

Looking forward to seeing all of you Friday night! And, a reminder, if you haven't placed your Mother's Day flower orders yet, visit www.harmonsbartons.com or call 1-800-786-5459!

In Post-Meltdown Muddle, Lenders Tighten Standards

As a consumer with good credit and a 10-year history of paying his mortgage on time, Ed McLaughlin expected that his record would put him in good stead with his bank.

But when he approached his lender, Charlotte, N.C.-based Bank of America, about refinancing his existing mortgage or qualifying for a new loan, McLaughlin felt like a brand-new customer just off the street.

“They said new banking laws required that I jump through all the hoops, which I thought was a little odd because my record with Bank of America had been good,” said McLaughlin. “All the new paperwork, all the new guidelines they were now required to administer. All that was going to complicate it.”

McLaughlin wasn’t being singled out—he was simply finding out firsthand how the residential mortgage industry has changed since the housing meltdown. After a period when too many lenders focused just on getting people into homes—and not on whether they could afford them—the pendulum has swung back in the other direction.

The number of mortgage products offered to consumers has shrunk, while the amount of income documentation required of borrowers has increased.

“It’s going back to how things were done 10 years ago,” said Jim Bennison, a senior vice president with Raleigh-based Genworth Mortgage Insurance.

The new landscape can be particularly jarring for borrowers used to the recent go-go years, when some lenders required little proof of a borrower’s income and liabilities and enticed them with a range of exotic loans with variable interest rates.

The underwriting standards for borrowers are now being dictated almost entirely by three government entities that have come to dominate the mortgage market: the Federal Housing Administration, Fannie Mae and Freddie Mac.

A bank today is highly unlikely to issue a mortgage that won’t be guaranteed by one of these three. A few years ago, a buyer might have found the house of her dreams and then worried about how to finance it. Now, getting pre-qualified for a loan should be one of the first steps.

“People need to call a mortgage professional earlier in the process than they think,” said Todd Barbour, vice president of Meridian Residential, a mortgage company in Cary, NC. “The very moment you think, ‘I might want to buy a house,’ someone like me should be the next phone call.” Given how severe the housing downturn has been, Barbour said, many people assume they won’t be able to get a loan. That’s a mistake, he said, because there are good loans available for qualified buyers and interest rates are at historic lows.

One of Barbour’s clients recently purchased a home for $285,000 in Wake Forest, NC. The couple got a 30-year mortgage with an interest rate of less than 5%. “It went crazy smooth for us,” Lauri Moore said. “It was literally a miracle how smooth it went.” The Moores had great credit and made a 20% down payment, something not all buyers are in a position to do.

Read more HERE at RIS Media.