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        <title>Latest Real Estate, Economic, and Financial News </title>
        <link>http://www.russlrobinson.com/blog/</link>
        <description>Check out the latest news and headlines in real estate, the economy, and financial news. Russ Robinson is Atlanta's top real estate agent and Georgia's short sale expert. Learn about short sales including how to prevent foreclosure, the short sale pr</description>
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            <guid>http://www.russlrobinson.com/blog/the-origin-of-valentines-day.html</guid>
            <link>http://www.russlrobinson.com/blog/the-origin-of-valentines-day.html</link>
            <author>kim@russlrobinson.com (Russ Robinson)</author>
            <title>The Origin Of Valentine's Day</title>
            <description> <![CDATA[ Today on this Valentine’s Day, the average person will spend $126 on their loved one, which amounts to about $17 billion this year in the United States. An estimated 4 million Americans will proposeto their mate. Like it or not, today is a big deal!  As you give that Valentine to your loved one, did you know that this holiday has a religious history?

The origin of Valentine’s Day is mysterious. Valentine’s Day comes from a figure in Christian history but the exact identity of St. Valentine is difficult to prove. Tradition holds Valentine was a priest in Rome, who aided and sheltered Christians in persecution under Claudius II. In addition, he married Christian couples under the newly found faith of Christianity. Valentine was caught, and sent to Rome to renounce his faith. Valentine was be beaten with clubs and was be beheaded. He was executed on February 14, sometime around year 270.


One tradition holds that Valentine himself sent the first “Valentine” card: 


While in prison, it is believed that Valentine fell in love with a young girl — who may have been his jailor’s daughter — who visited him during his confinement. Before his death, it is alleged that he wrote her a letter, which he signed “From your Valentine,” an expression that is still in use today.


Several “Valentine” names are mentioned in history with a connection to St. Valentine: One is described as a priest at Rome, another as bishop of Interamna (modern day Terni, Italy), or  martyred priest in Africa. Two of these two individuals seem to have suffered in the latter half of the third century and were buried on the Flaminian Way outside Rome, but at different distances from the city.


To confuse the understanding of Valentine’s Day and St. Valentine, Pope Gelasius declared February 14 St. Valentine’s Day around 498 A.D.  Many Christian historians believe that Pope Galasius did this to Christianize the pagan holiday of Lupercalia, which was a bloody and strange observance.


All of this uncertainty might lead one to believe that St. Valentine was just a made up saint. A figure of the imagination of Christians looking for a story. A myth. Such inconsistencies cause doubt and leave a rather murky past for this holiday. But, one piece of evidence may prove that St. Valentine was an actual historical figure.  A catacomb was discovered from the third century that was dedicated to Valentine.


Regardless if there was one or two individuals named Valentine, it is clear that ancient Christians believed in Valentine as an actual historical figure that they dedicated a tomb to in his honor.  His story inspired early Christians to continue their faith under persecution. It wasn’t until famous writers, such as Geoffrey Chaucer, who made it popular to send love notes to lovers on Valentine’s Feast Day.


Despite the mysterious origins of Valentine’s Day, may St. Valentine’s story inspire you to not only show romantic love to your mate, but to show brotherly (or sisterly) love to everyone you encounter.


 

                                                                                                           


                                                                                                                                           Copyright 2012 TimesUnion.com "The Origin Of Valentines Day"
 
    

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            <pubDate>Tue, 14 Feb 2012 15:08:25 -0500</pubDate>
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            <guid>http://www.russlrobinson.com/blog/top-10-flowers-for-curb-appeal.html</guid>
            <link>http://www.russlrobinson.com/blog/top-10-flowers-for-curb-appeal.html</link>
            <author>kim@russlrobinson.com (Russ Robinson)</author>
            <title>Top 10 Flowers for Curb Appeal </title>
            <description> <![CDATA[ 
Are you fighting a bad case of cabin fever this Winter? If so you're not alone! Dormant flower beds all across the nation are begging for some splashes of color. Here's a list of the top 10 inexpensive, easy-to-maintain flowers that will please those beds, your budget, and your neighbors.  


 


Curb appeal is your home's first impression to buyers and neighbors alike. It can say a lot about how you respect your home and property.


  Ask yourself these questions: How do you feel about a home with an overgrown lawn? Do you prefer flower beds that are empty and full of weeds or beds that are planted with new Spring flowers? The answers are easy! We all prefer yards that are well-kept. That includes buyers.  


When a buyer makes an offer on your home they are buying the idea of a lifestyle as much as the structure itself. This is why it is so important to start off on the right foot. You want buyers to think of your home as the perfect home with the perfect, charming yard.  


Here's are the top ten flower to include this year:  


1. Knock-Out Roses. Traditional roses usually have a few week blooming period. And while those blooms can be fragrant and spectacular, it means limited time when the color is out. Instead opt for these high-powered performers.  


2. Hostas. While a hosta isn't a "flower" per sae (though they do flower), it can be a perfect addition to beds that beg ground cover. They work great in shady areas and as an added bonus come back year after year.  


3. Geraniums. These colorful flowers bloom all summer long (when you pick off dead blooms) and pack an added bonus. Their fragrant scent is a natural mosquito repellant. Geraniums come in a wide array of colors so let your creative side come out to play when choosing your hues this year.  


4. Petunias. There are lots of colors to choose from and these growers look great in hanging baskets. Pick complimentary colors for your house. Red with green, orange with blue and so on. Keep them watered and they'll bloom well into Fall.  


5. Violets. These low growing purple flowers are also perennials and can add a lovely border edge to any bed.  


6. Impatiens. These little beauties are another shade-tolerant plant that looks great in beds around the base of trees as well as along borders.  


7. Marigolds. These golden-hued bloomers are hardy. This means even those with a black thumb may have a hard time killing them! Just like their color implies, these flowers love full sun.  


8. Vincas. These delicate little flowers can add just the touch of charm to sidewalk borders. They are low maintenance and will add color all season.  


9. Grasses. Do you need to add some height to your flower beds? Pampas and other ornamental grasses can be real statement plants. They "bloom" in a variety of colors. Just keep them away from your house since dry grasses in the Fall can be a fire hazard.  


10. Zinnias. Does your region get blistering hot summers? Do half of your plants die every year? This sun lover with bask in the heat and keep on blooming.  


Once the risk of freeze is passed in your town your local home improvement stores will start offering your favorite blooms and buds for sale. Remember the simple rule of thumb that annuals are here for the season and then gone, while perennials come back year after year. When the time for planting comes to your region, give some thought to the curb appeal of your home and how plants can help you make a statement.


 


                                                                                                                                      Copyright 2012 Realty Times "Top 10 Flowers for Curb Apeal"
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            <pubDate>Tue, 14 Feb 2012 14:40:14 -0500</pubDate>
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            <guid>http://www.russlrobinson.com/blog/obama-budget-calls-for-6b-in-home-energy-retrofits.html</guid>
            <link>http://www.russlrobinson.com/blog/obama-budget-calls-for-6b-in-home-energy-retrofits.html</link>
            <author>kim@russlrobinson.com (Russ Robinson)</author>
            <title>Obama Budget Calls for $6B in Home Energy Retrofits </title>
            <description> <![CDATA[ 
President Obama is calling for $6 billion in his 2013 budget to expand home energy retrofits. Obama unveiled his $3.8 trillion budget for 2013 on Monday. 


The home energy retrofit allocation aims to revive Obama’s Home Star program, which passed the House of Representatives in 2010 but never won over final congressional approval. The Home Star program would grant home owners rebates for efficiency upgrades, including sealing ducts, installing efficient water heaters and heating units, windows, doors, and adding insulation. The program was previously dubbed “cash for caulkers.” 


Still, some are skeptical the full $6 billion will win final approval. "While Home Star is unlikely to make it through Congress (this year) due to its price tag, we hope something more modest might be able to move forward," Steven Nadel, executive director of the American Council for an Energy-Efficient Economy, told USA Today. 


    


 


                                                                                                                                


                                                                                                                                              Copyright 2012  USA Today “Obama Seeks Billions for Home Energy Retrofits"
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            <pubDate>Tue, 14 Feb 2012 14:27:24 -0500</pubDate>
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            <guid>http://www.russlrobinson.com/blog/30-year-mortgage-rates-hold-at-record-low-of-387.html</guid>
            <link>http://www.russlrobinson.com/blog/30-year-mortgage-rates-hold-at-record-low-of-387.html</link>
            <author>kim@russlrobinson.com (Russ Robinson)</author>
            <title>30 Year Mortgage Rates Hold At Record Low of 3.87%</title>
            <description> <![CDATA[ 


Rates for 30-year U.S. mortgages held at the lowest level on record as fewer Americans sought loans for home purchases.


The average rate for a 30-year fixed loan was unchanged in the week ending Thursday at 3.87 percent, the lowest in records dating to 1971, Freddie Mac said in a statement. The average 15-year rate climbed to 3.16 percent from 3.14 percent, according to the mortgage-finance company.


Financing applications for home purchases declined 6.9 percent in the past four weeks, said Paul Diggle, property economist for Capital Economics in London, citing figures from the Mortgage Bankers Association. The data suggest that recent improvements in U.S. home sales may not be "built on solid foundations," he wrote in a note to clients Wednesday.


"At some point, mortgage applications will have to improve to keep the recovery in home sales going," Diggle said in the note. "We believe that faster jobs growth and slightly looser credit will provide this boost to mortgage demand."


Sales of previously owned homes rose 5 percent in December from the previous month to the highest level since January 2011, according to the National Association of Realtors. The U.S. unemployment rate unexpectedly fell to 8.3 percent in January, the Labor Department reported last week.


 


                                                                                                                          Copyright 2012 Bloomberg News "30 Year Mortgage Rates Hold At Record Low of 3.87%"


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            <pubDate>Tue, 14 Feb 2012 13:59:41 -0500</pubDate>
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            <guid>http://www.russlrobinson.com/blog/your-real-estate-choices-today-will-matter-for-retirement.html</guid>
            <link>http://www.russlrobinson.com/blog/your-real-estate-choices-today-will-matter-for-retirement.html</link>
            <author>kim@russlrobinson.com (Russ Robinson)</author>
            <title>Your Real Estate Choices Today Will Matter For Retirement </title>
            <description> <![CDATA[ 
Decades from now when you retire, you are going to take a look at your income and assets to see if you will be living a comfortable retirement. One big portion of your retirement picture will probably relate to real estate. You may have paid off a home, and/or rental properties; and that would be great. Or you may still be paying a fairly large amount on your home mortgage or paying rent each month to a landlord.


Obviously, the scenario where you are still paying monthly for your housing is not an optimal scenario. Luckily, you can do a lot to increase the chances that the real estate you own will have been a net wealth builder over your lifetime. You do this by educating yourself and reducing the risk on real estate you buy and own. It is the real estate choices you make decades before you retire that will probably will be the difference between a comfortable retirement or living on social security to social security check.


Of course, saving and investing money in mutual funds, stocks, bonds, etc. is also vital to your retirement picture; but your financial adviser can assist you with those issues. In this article, we are just concentrating on real estate.


Making smart choices on real estate during your lifetime, which really effectively means not losing money on high risk real estate and avoiding money-draining real estate choices, will be a big help towards a relaxing retirement future.


The first issue that you should consider in making good retirement choices can be summed up here in determining whether or not your investment is an asset (buy those) or liability:


 


                                                                                                               Copyright 2012 MercuryNews.com  "Your Real Estate Choices Today Will Matter For Retirement"


Personal residences:


Asset: You can comfortably afford the payments, it is not significantly less expensive to rent instead of owning, you bought a modest home for your wealth level, and you plan to own it a long, long time.


Liability: You are financially stretching to make the monthly payments.


Investment rental property:


Asset: You are positive on net cash flows and are earning a fair rate of return on your invested equity capital; for the corresponding risk you are taking for the type of property you are buying, and you plan to own it a long, long time.


Liability: You are negative on cash flows or you try to quickly buy and resell real estate at a profit.


If the real estate you buy is an asset, it is more likely to add to your net wealth and help your finances at retirement. Buying liabilities will probably not help your retirement.


You also need to consider if your real estate purchase is a safe and sound purchase, because the lower risk choices you make, the more likely it will add wealth to your retirement. And the actions you take when buying and owning property will determine whether or not you made safe choices. For example:


Did you buy properties that were generally in good shape and not fixer-uppers? Fixer uppers generally drain a buyer of cash that could be invested elsewhere and probably will not add wealth to your retirement for a number of reasons.


Did you avoid investing money in any real estate deal that seemed too good to be true? You may miss out on some opportunities in taking this strategy, but real estate is very high risk and many people lose money on real estate by putting their equity cash into something that sounds too good to be true. If it sounds too good to be true in real estate, it almost always is too good to be true.


Did you review the financial, operational and legal condition of any homeowners association if you are buying into that community? A community in poor shape usually means you will pay the price over time with higher fees or special assessments.


Did you get a fair deal on your mortgage financing by getting a couple of bids for your business and did you take out long-term fixed rate financing?


Are you carrying the proper type and amount of homeowner's insurance for your property and your risk issues? Do you have an umbrella policy to increase your liability coverage if you have rental properties?


Rental properties: Are you working hard to get good tenants and keep them as long as possible by treating them well? That includes buying lower risk decent properties and keeping them in good shape.


When you are buying properties, did you adequately review the title abstract and title insurance policy, plus get a survey or at least review the plat and walk the property to see if anything appears strange?


There are many other tasks you can do to reduce your risk, help make the real estate you buy an asset instead of a liability, and hence add net wealth to your retirement. But it all starts with avoiding bad, high-risk real estate.


Educating yourself on how to avoid those wealth-destroying decisions will hopefully turbo-charge your retirement. The end result, decades down the road, may be the difference that gives you that comfortable retirement lifestyle.
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            <pubDate>Tue, 14 Feb 2012 13:48:25 -0500</pubDate>
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            <guid>http://www.russlrobinson.com/blog/foreclosures-plunge-to-lowest-level-since-2007.html</guid>
            <link>http://www.russlrobinson.com/blog/foreclosures-plunge-to-lowest-level-since-2007.html</link>
            <author>kim@russlrobinson.com (Russ Robinson)</author>
            <title>Foreclosures Plunge to Lowest Level Since 2007</title>
            <description> <![CDATA[ 
The number of homes receiving a foreclosure filing — from notice of default to repossession — hit a 49-month low in December, as legal issues, documentation delays and weak housing demand all served to stall the processing of mortgage delinquencies.


Foreclosure filings were reported on 205,024 U.S. properties in December, a 20% decrease from the year before, a 9% decrease from the previous month and the lowest total since November 2007, according to foreclosure-data firm RealtyTrac.


It's not that the housing market and economy are getting that much better; it's just taking lenders 24% longer to foreclose on a home than it did before the robo-signing scandal made headlines in the third quarter of last year, said Daren Blomquist, RealtyTrac's director of marketing communications.


"This (slowdown) has persisted much longer than we thought," Blomquist said. Given the low numbers processed in 2011, he said he expects a much bigger wave of foreclosures to hit the market this year, though fewer than the peak in 2010.


Paperwork delays or pipeline management?Some industry watchers, such as Mark Fleming, chief economist of data and analytics firm CoreLogic, say last year's slowdown is as much about managing losses in the face of weak housing demand as it is about procedural concerns.


"We are running well below what should be a suitable rate," Fleming said, even considering document reviews and typical holiday slowdown. That suggests a conscious decision to put on the brakes.


"There is an art of the timing of these processes and minimizing losses," Fleming said. "There's no point in pushing these things through if there's no one there to buy them."


Real-estate agents say they're concerned that so many distressed properties are just sitting there, waiting to hit the market en masse this year.


"We know those (distressed) properties are there; the servicers are just holding them," said agent LuAnn Lamb of ReMax Results in Salt Lake City.


However, there was at least one indication that lenders and servicers were beginning to move on the huge backlog of distressed inventory. While default notices and auctions were down 23% and 24% respectively year-over-year in December, the number of bank repossessions — or real-estate-owned properties, REOs — increased 10% from the previous month. That's a promising uptick, but is still 12% below the December 2010 number.


In the fourth quarter of last year, filings were reported on 586,133 U.S. properties, RealtyTrac said, a 27% decrease from the same period in 2010 and a 4% decrease from the third quarter of 2011.


The delays in the wake of last year's robo-signing scandal dropped the number of homes receiving a foreclosure filing to 1.9 million in 2011, a 34% decline from 2010, when activity peaked.


With just 1.45% of U.S. housing units, or one in 69 homes, receiving a filing last year, foreclosure activity was back down to its lowest annual level since 2007.


U.S. properties foreclosed in the fourth quarter took an average of 348 days to complete the process, up from 336 days in the third quarter and 305 days in the fourth quarter of 2010.


The longest timelines were in judicial-foreclosure states such as New York, New Jersey and Florida, where foreclosures are handled by the court system.


New York properties took the longest to complete the process at 1,019 days. New Jersey came in a close second, taking 964 days, and Florida was third at 806 days.


Compare those numbers with Texas, where the foreclosure process took a mere 90 days, on average.


Loss leadersNevada continued to lead the nation in foreclosure activity in the fourth quarter last year, with 16,728 properties, or one in every 68 households, receiving a filing. But this number was 53% lower than the same period a year earlier, and a 35% drop from the third quarter. Things there were bogged down by a new state law requiring an additional affidavit from lenders before starting the foreclosure process.


California came in second, with 152,467 properties with filings in the quarter, or one for every 88 households. This represented a 13% drop from the fourth quarter of 2010, and an almost negligible drop from the third quarter at 0.4%.


Arizona had the third-highest rate of foreclosure activity in the fourth quarter with 28,182 properties receiving a filing, or one in every 98 households, a 30% decline from 2010 and a 5% drop from the previous quarter.


Other states with 2011 foreclosure rates among the 10 highest were Georgia, Utah, Michigan, Florida, Illinois, Colorado and Idaho.


The city with the highest foreclosure rate was Las Vegas, where 7.4% of its housing units, or one in every 14 homes, received a foreclosure filing in 2011.


Ten of the top 20 metro area foreclosure rates last year were in California — from Bakersfield, Modesto and Stockton in its Central Valley, to the Riverside-San Bernardino area southeast of Los Angeles.


Other cities in the top 20 included Phoenix; Atlanta; Salt Lake City; Boise, Idaho; and Cape Coral-Fort Myers, Fla. All 20 metros showed a decrease in activity from 2010, and all but Atlanta posted a decrease from 2009.


 






                                                                                                                        Copyright 2012 MSN Real Estate  "Foreclosures Plunge to Lowest Level Since 2007"




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            <pubDate>Tue, 17 Jan 2012 16:56:01 -0500</pubDate>
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            <guid>http://www.russlrobinson.com/blog/home-improvements-dos-and-donts-for-increasing-resale-value.html</guid>
            <link>http://www.russlrobinson.com/blog/home-improvements-dos-and-donts-for-increasing-resale-value.html</link>
            <author>kim@russlrobinson.com (Russ Robinson)</author>
            <title>Home Improvements: Dos And Don’ts For Increasing Resale Value</title>
            <description> <![CDATA[ 
There is no doubt that home improvements can increase the resale value of your home.  However, you should know that not all types of home improvement projects will add to the value of your home – lots of research has been done on this.  Here we discuss which home improvements generally increase resale value and what type of home remodeling does not recover its money back after a sale.


Home Improvement Dos:






The first thing that home owners need to do to increase the resale value of their homes is to beautify the façade/outside of their homes.  Home improvements such as landscaping your front lawn, adding some plants and shrubs in your yard, and cleaning up the exterior of your home do not cost a lot of money but can make a huge difference to the way your home is perceived by buyers.  After all, first impressions are everything, aren’t they?






Adding a fresh coat of paint to the interior and exterior of your home can increase its value considerably.






The main rooms of a home that buyers pay close attention to are the bathrooms and the kitchen.  These areas demand the bulk of your home improvement budget.  Adding a new full bathroom to your home (but not if you’re going to end up a bedroom short!), or adding new appliances to the kitchen can add to the resale value of your home.






A garage can add considerably to a home’s value.






If your home does not have a fireplace, think of putting in at least one.






Bringing the laundry room up from the basement also adds to the resale value.






 Home Improvement Don’ts 




New windows do not add much to the resale value of your home, regardless of how good they look or how energy efficient they make your home.  Don’t spend money on window remodeling unless they are literally falling apart or busted up.  Clean them up and make sure they are well-oiled instead.


Swimming pools may be the ultimate luxury but if you’re thinking of adding one to increase the resale value of your home, don’t bother.


Central air conditioning is also very comfortable, but this home improvement does not recover its value.


Laying new floors such as marble, wooden floors etc is another home remodeling project that will not get you more money on a sale.


Luxuries such as a tennis court will make your home more high end but will not increase its value more than what you spend on the remodeling.


Spending money on cosmetic changes inside the home is fine up to a point, but if you expect to recover the all money that you spent on those antique decorative pieces, Taj Mahal like décor, and fancy branded appliances, then you are wrong.




The main rule to remember when undertaking home improvements to increase the resale value of your home is that the expected value of your home should never go up more than 15% to 20% higher than the value of the other homes in your area, otherwise buyers start looking at the cheaper options.


When You Decide To Remodel, Do It Right


When starting on any home improvement project, make sure you look around to find the best home improvement contractor.  Ask for references, ensure that the contractor has all the necessary permits and licenses, and that s/he is a qualified contractor.  Request bids from at least 3-4 different home improvement contractors and then choose the best one.  Sites like Angie's List and ServiceMagic can help you here.  Make sure you have a written contract that clearly specifies the agreed upon price for the home improvements, the exact nature and scope of the home remodeling, the time in which they will be completed, and what happens in case of delays, etc.  Also, insist on checking their relevant licenses and for adequate insurance coverage (workmen’s compensation and general liability insurance).


If undertaken properly and done right, home improvements can indeed add to the resale value of your home.


 


                                                                                                  Copyright 2012 myspendingplan.com  "Home Improvements: Dos And Don’ts For Increasing Resale Value"
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            <pubDate>Tue, 17 Jan 2012 16:25:52 -0500</pubDate>
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            <guid>http://www.russlrobinson.com/blog/putting-plan-to-reality-when-it-comes-to-retirement.html</guid>
            <link>http://www.russlrobinson.com/blog/putting-plan-to-reality-when-it-comes-to-retirement.html</link>
            <author>kim@russlrobinson.com (Russ Robinson)</author>
            <title>Putting Plan to Reality When it Comes to Retirement</title>
            <description> <![CDATA[ 
So you’ve got a monthly budget and have already started saving for retirement, either through your company’s programs or your own. You’re well on your way to a comfortable post-career period, but just when is that going to be? If you’re like many people, you have only thought of that in the broadest terms, but part of the plan is setting the goal line. For help with that, financial planner Jeff Rose offers advice in his article, “How to Calculate Your Retirement Savings and Retirement Date,” on the Equifax Finance Blog.


Following the estimation of your retirement budget and income, you will need to multiply your monthly retirement budget out to a yearly budget. From there, it’s a guessing game about how long you think you will live – and it can be a dangerous guessing game to under estimate and find yourself running out of money after being out of the job market for a long time. You will also need to account for increased health costs if you are retiring before you are eligible for Medicare.


 


Now that you have the goal, the total retirement amount, you just need to set the rate at which you’re going to reach that goal. A way to help this is for your money to grow in investments and savings until you reach or exceed the budget. There are a couple key factors to consider, including inflation and cost of living adjustments, which will modify your ideal amount of savings. Rose suggests planning for four percent inflation so that you are safe, and if inflation is not as high you will have an extra cushion.


 


If you need more help on determining your retirement plan and course of action, check out the full article on the Equifax Finance Blog.


 


                                                                                                        Copyright 2012 Ben Heisler realestateforum.com "Putting Plan to Reality When it Comes to Retirement "
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            <pubDate>Tue, 17 Jan 2012 15:58:44 -0500</pubDate>
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            <guid>http://www.russlrobinson.com/blog/housing-market-forecasts-predict-positive-change-in-2012.html</guid>
            <link>http://www.russlrobinson.com/blog/housing-market-forecasts-predict-positive-change-in-2012.html</link>
            <author>kim@russlrobinson.com (Russ Robinson)</author>
            <title>Housing Market Forecasts Predict Positive Change in 2012</title>
            <description> <![CDATA[ 
According to housing market reports, there has been a recent increase in mortgage applications, while mortgage delinquencies are expected to decline during 2012. This forecast comes as potential homebuyers become more confident in the nation's housing market.


The most recent Mortgage Bankers Association Market Composite Index, which measures mortgage loan application volume, spiked 12.8 percent in the week ending December 2. Meanwhile, the Refinance Index rose 15.3 percent from the previous week and now makes up 76 percent of total loan applications.


"Coming out of the Thanksgiving holiday, applications increased significantly as mortgage rates dropped to their lowest levels in about two months," said MBA vice president of research and economics Michael Fratantoni. "In particular, refinance applications increased sharply, with some lenders seeing refinance volume double."


However, despite the promising increases, levels are still below activity recorded two weeks ago, added Fratantoni.


Mortgage rates continue to hover near historic lows and the MBA reported that 85.5 percent of applications for home purchases were for 30-year fixed-rate mortgages, while 6.8 percent were for 15-year FRMs. In addition, requests for adjustable-rate mortgages made up 5.9 percent – the second lowest ARM share since the beginning of 2011.


Meanwhile, among refinancing activity, 52.9 percent of applications requested a 30-year FRM, while 26.2 percent were for 15-year FRMs.


As more borrowers capitalize on affordable rates, a recent forecast anticipates mortgage delinquency rates to edge higher before declining in 2012.


The forecast from TransUnion predicts that mortgage delinquencies, of 60 days or more, will rise to roughly 6 percent by the end of 2011 before falling to 5 percent over the course of 2012.


"Although house prices and unemployment will likely face continued pressure next year, this forecast calls for gradual improvements in the second half of 2012 to other key variables, like improving credit quality of new originations, consumer confidence and GDP, that will positively influence homeowners' ability and willingness to pay their mortgages," said TransUnion vice president of U.S. housing Tim Martin.


Martin added that if there are no additional shock to the economy that would drastically affect the average borrower's financial situation, mortgage delinquencies could fall by as much as 16 percent in 2012 when compared to this year.


Meanwhile, TransUnion predicts that the largest fall in delinquency rates will occur in Arizona, Wisconsin and Colorado.


A decrease in delinquency would help bolster the overall climate of the nation's housing market. However, as the new year approaches, Fannie Mae has recently discovered a positive increase in consumer sentiment regarding home prices.


According to a survey by the mortgage giant, an increasing number of consumers believe that home prices will increase by at least 0.2 percentage points during 2012.


"Though their home price expectations have become slightly positive, consumers remain concerned about the direction of the economy and continue to view their household finances as being relatively flat," said Fannie Mae chief economist Doug Duncan.


Of the respondents questioned in the survey, 22 percent expected home prices to increase during the new year – a 3 percent increase from the previous month – while 53 percent predicted there would be no change at all. In contrast, 22 percent expect home prices to decline over the course of the year.


Meanwhile, 68 percent of those surveyed said that now is a good time to buy, while 33 percent forecast mortgage rates to increase in 2012 after hovering near record lows in recent months.   


                                                                                                                     Copyright 2011 homefnder.com  "Housing Market Forecasts Predict Positive Change in 2012"
 ]]> </description>
            <pubDate>Tue, 17 Jan 2012 12:11:14 -0500</pubDate>
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            <guid>http://www.russlrobinson.com/blog/cbl-horizon-group-jv-to-develop-370k-sf-woodstock-ga-outlet-center.html</guid>
            <link>http://www.russlrobinson.com/blog/cbl-horizon-group-jv-to-develop-370k-sf-woodstock-ga-outlet-center.html</link>
            <author>kim@russlrobinson.com (Russ Robinson)</author>
            <title>CBL, Horizon Group JV to Develop 370K SF Woodstock, GA Outlet Center</title>
            <description> <![CDATA[ 
CBL &amp; Associates Properties, Inc. (NYSE: CBL) has formed a 75/25 joint venture with Horizon Group Properties, Inc. (OTC: HGPI) to develop The Outlet Shoppes at Atlanta in Woodstock, GA.


Construction on the 370,000-square-foot project is expected to begin in spring 2012, with the grand opening scheduled for late summer 2013. CBL and Horizon are co-developing the project with Horizon responsible for leasing and management.


The Outlet Shoppes at Atlanta is currently more than 70 percent leased or committed with tenants including Saks Fifth Avenue OFF 5TH, Nike, J. Crew, Nine West​, Brooks Brothers​, Johnston and Murphy, Levis, Skechers, Chico's, Guess, Michael Kors​, Puma, Under Armour​ and more. The project is in a northern suburb of Atlanta off Interstate 575 and Ridgewalk Parkway.


Once complete, the center is estimated to create more than 1,000 jobs for the community and generate more than $130 million in annual sales.


CBL and Horizon developed an outlet center project under a similar business partnership in Oklahoma City.


 


                                                                                                 Copyright 2012 Citybizlist.com   " CBL, Horizon Group JV to Develop 370K SF Woodstock, GA Outlet Center"
 ]]> </description>
            <pubDate>Tue, 17 Jan 2012 12:01:35 -0500</pubDate>
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