Fueled by recent interest rate cuts by the Federal Reserve, mortgage application volume rose 7.5% during the week ended Jan. 25, according to the trade group Mortgage Bankers Association’s weekly application survey. The MBA’s application index rose to 1,054.9 from 981.5 the previous week.

Application volume was pushed higher by a jump in refinance volume. Refinance application volume increased 22.1%, while purchase volume tumbled 17.7%. Refinance applications accounted for 73% of total applications. The index peaked at 1,856.7 during the week ending May 30, 2003, at the height of the housing boom. (more…)

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With dropping interest rates and the ability to borrow at a lower rate, more and more home and condo owners are considering expanding or remodeling their property. Beyond just the cosmetic aspects — paint, carpet, flooring and such, consumers are considering the energy aspects of owning their primary residence and second home.

Upgrading windows is a logical start to many remodeling jobs. To get the most out of new windows, it’s important to go into the remodeling project with a good sense of the home’s structural style and blend that with the homeowners’ personal style.

Many window upgrades can be accomplished without changing the size of the wall opening. For example, a dramatic change the look of a room by replacing a simple sliding glass patio door with a set of fashionable French doors. (more…)

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For those engaging in a major remodeling project, or contracting a newly built home, there are lots of things to look for from the homebuilders you’re considering, according to B.E.S.T. — Building Environmental Science and Technology. To be considered a green builder, those contractors need to choose their construction materials wisely. This will include using recycled, renewable and reused resources to the max.

Green homes are designed and constructed to ensure that they are healthy for their occupants. Typically these houses are more comfortable and easier to inhabit due to lower operating and owning costs.

Many books exist that discuss the subject of building green. One book is shown on this page and advertises itself as a step-by-step guide, introducing you to every facet of green building and remodeling, from sizing up construction sites and selecting materials to working with green professionals, reducing energy and water use, and weighing the pros and cons of popular green building methods (more…)

search for : remodeling project, Building Environmental Science and Technology, green builder, Green homes, green building methods

With home sales at an all-time low, consumers consider expanding or remodeling as an alternative to selling and then buying another home. But, finding a home contractor can be a daunting process, while producing expensive and unhappy results.

Everyone should know that at least three bids is necessary to get a feel for the going rate for the work you want done. The bids must include labor costslabor costs, a total for materials, and a timetable. Don’t immediately jump at the lowest bid. There may be an indication that a low bid may mean inferior results. Surveys have shown that people who hired the lowest bidder generally got less than satisfactory results. (more…)

search for : labor costs, lowest bid

Many different kinds of property and casualty insurance are available to homeowners, apartment owners and renters can. Insurer’s talk in terms of two general types of policies: named peril and all peril. Named-peril policies specify risks covered and exclude everything else. All-peril policies specify risks not covered but include everything else.

Nationwide, HO-3, an all-peril policy, covers all risks except those specifically excluded. Typically, an HO-3 policy excludes coverage for damage caused by flood, earthquake, war, nuclear accident, landslide, mudslide and sinkholes. Some insurers now exclude or limit coverage for mold. Flood insurance is almost always be bought separately. (more…)

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This one-of-a-kind lakefront lot is truly unique within the Malone Bay community. It is one of the most desirable, if not the most desirable lot among the few remaining properties with waterfront access to W. Kerr Scott Lake.

Malone Bay features 18 lots at W. Kerr Scott Dam & Reservoir. 14 are Lakefront and meet private dock requirements. This is a gated community with Lots ranging from 2.3+- acres to 6.8+- acres On the Hwy 421 side of the lake just off South Minton Road, Wilkesboro, NC 28697

Main Channel Views.
300 feet of waterfront.
Dock with boat slip and 2 jet ski slips.

2.86 acres.

MLS Number: 51155
List Price: $359,000
Lot Size: 2.86 ac.
Apx Acreage: 2.86
Type: Waterfront
Area: Area 2
Suitable Use: Residential

Topography: Rolling
Utilities: Underground Utilities
Road Frontage: Private Road
Restrictions: yes
Water/Sewer: Public Water
Miscellaneous: 1-5 Acres
Location: Malone Way

click here for more information

search for : Malone Bay, W. Kerr Scott Lake, W. Kerr Scott Dam

For decades solar energy use was largely confined to a small fringe of diehard conservationists. Most used a typically “solar thermal” system that stored heat from the sun to warm pools or appliances. Now, solar power is going mainstream in many more homes, helped along by a proliferation of new solar technology like cheaper photovoltaic cells and new high-tech, solar-powered devices.

Photovoltaic cells, most of which are made from silicon, have exploded in use around the country over the past five years as once-prohibitive costs for home use of the technology have declined. Between 2002 and 2006, the number of new photovoltaic systems installed in U.S. homes nearly tripled to 7,446 from 2,805, according to the Interstate Renewable Energy Council in Latham, N.Y. Industry officials say that such installations are expected to top 11,000 this year. (more…)

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The IRS is said to be increasing its audits and enforcement of 1031 exchanges during 2008. If you are considering using this accounting option to minimize the amount of capital gains taxes owed, it will be best to get the best advice possible on how to do it right.

For a little background, when a real estate owner sells piece of investment property, the taxpayer must pay a tax on any profit that is made. If the property was owned for more than one year, it will normally be considered a long-term capital gain and the tax will be based on the seller’s income. Subject to current IRS statutes, the highest tax rate is 15 percent.

However, if the property is “sold” in connection with a 1031 exchange and another investment property worth the same amount is used as swap, there would be no capital gains tax to be paid. Instead, the basis of the old property would be transferred to the new one. The tax on any profit will not be due until the replacement property is sold. (more…)

search for : 1031 exchange, capital gains taxes, investment property, long-term capital gain

Selling a home in this “post-bubble” real estate market calls for serious thought about the techniques necessary to make the sale fast and smooth. Most important in this market is pricing the home at or below market values. Sellers facing slow sales shouldn’t take their houses off the market to place it back on in the spring as is a normal real-estate tactic.

In today’s market, finding a buyer is more difficult for homeowners because of stricter lending policies and because homeowners often need to sell their homes at a price that will allow them to pay off their old mortgage. This puts non-homeowners, renters and those with “cash-in-hand” at a buying advantage. (more…)

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