Newly constructed home sales increased in September, recovering from very sluggish activity during the summer months, it was noted in a Commerce Department report. Sales increased by 4.8 percent over the previous month. However, sales were still down by 23 percent over the past year.
At the same time, sales of existing homes and condos fell [...]

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The tightening standards for home mortgages will not derail a national recovery in the housing market, according to a study by the National Association of Home Builders. However, it will complicate the system for a while.
The impact of the new standards on housing markets comes in two forms. First, tightening lending standards have reduced the [...]

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New legislation has been proposed that would restrict lending practices, encourage states to enact stronger mortgage regulations and set up federal-level regulations if they don’t do so. The bill, proposed by Rep. Barney Frank, chairman of the House Financial Services Committee, is designed to protect future borrowers.
The new law would bar mortgage lenders and brokers [...]

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A currently proposed bill (H.R. 1876) would correct what many consumers and real estate professionals consider to be a serious flaw in our tax system. It would change the current law that forces individuals to pay an income tax when they have had part of a mortgage loan forgiven or have been forced to foreclose [...]

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  It’s so dry in North Carolina that the Baptists are starting to baptize by sprinkling; the Methodists are using wet-wipes, the Presbyterians are giving out rain-checks, and the Episcopalians and Catholics are praying for the wine to turn back into water.
 Now THAT’s   Dry.
 

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Home sales should bottom out by the end of the first quarter of this coming year, according to a recent study and report from the National Association of Home Builders.
Despite current market sluggishness, the housing market will start to turn around next year for a number of reasons: the overall economy and job growth will [...]

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Things are looking up for consumers who are looking for a mortgage loan to either finance the purchase of a home or refinance an existing loan. Recent developments in the mortgage industry will make home loans more affordable and accessible for many consumers in coming months, according to a report from the National Association of [...]

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Calif. median home price - September 07: $530,830  
Calif. highest median home price by C.A.R. region September 07: Santa Barbara So. Coast $1,667,500
Calif. lowest median home price by C.A.R. region September 07: High Desert $271,940
Calif. First-time Buyer Affordability Index - Second Quarter 07: 24 percent (Source: C.A.R.) 
Mortgage rates - week ending 11/08: 30-yr. fixed: 6.24%; [...]

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With rising rents and a few available rental units in many markets, the motivation for long-time renters to invest in their own home is growing. Today’s low mortgage interest rates often make it possible to pay less on a mortgage than the rental amount for a comparable unit. And, of course, there are tax advantages [...]

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God created the mule, and told him, "You will be mule,
working constantly from dusk to dawn, carrying heavy
loads on your back. You will eat grass and you lack
intelligence. You will live for 40 years."
 
The mule answered, "To live like this for 40 years is
too much. Please, give me no more than 20." And it was
so.
 
Then [...]

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