RecallChek

We're very excited to introduce a new service and report we provide for FREE with all of our home inspections.

RecallChek is the nations first and only appliance safety and recalling system.

Home Inspectors and Realtors have an interest in their clients’ safety, and in their liability. Yet, many American Homes have potential and known fire hazards in them. Despite the fact that since 1974, American citizens have been protected from dangerous items in their homes by law. If a manufacturer has designed a dangerous product, they MUST recall all those items and FIX THEM FOR FREE! 

The problem in the law is that most often it’s up to you, the consumer, to find out whether your appliances are potential fire or safety hazards!  There’s a database online, but you would have to wade through 195 MILLION recalled items to find out if your dishwasher or air conditioner is a potential hazard and this would take a tremendous amount of your time.  As a result, today many of these dangerous appliances are still in homes across America.  That's why RecallChek is such a great product.

Here's how it works!

✓ Your Home Inspector will copy the model numbers of your built-in 

    home appliances and HVAC system. 

✓ At RecallChek Headquarters, your model numbers are computer 

    matched against MILLIONS of recalls using our Model Number 

    Algorithm (MNA). 

✓ RecallChek issues a report within 48 hours, to both the inspector 

    and your client 

✓ In the event of a potential recall, we inform home buyers: 

1) the nature of the recall, 

2) where the product was sold, 

3) how to remedy the defect, and 

4) how to get the item repaired or replaced in most cases - FREE! 

30-year mortgage at lowest rate since 1971

NEW YORK (CNNMoney.com) -- Mortgage rates continued to decline this week, plunging to the lowest level in decades, according to surveys from Freddie Mac and Bankrate.

Freddie Mac's weekly report said the 30-year fixed rate slipped to 4.44% for the week ended Thursday, the lowest since the government-backed lender began tracking the rate in 1971. Last week's rates stood at 4.49%, and a year ago it was at 5.29%.

The 15-year fixed rate fell to 3.92% this week, the lowest since Freddie Mac began tracking it 1991, down from 3.95% last week and from 4.68% a year ago.

Adjustable-rate mortgages also declined, with the 5-year rate falling to 3.56% this week, the lowest since 2005 when the lender began tracking it.

Mortgage tracker Bankrate.com, which surveys large lenders across the country, said the average 30-year fixed loan sank to a record low for the fourth consecutive week, falling to 4.57% from 4.66% the previous week.

The 15-year fixed rate, which is a popular option for refinancing, also fell to the lowest level in the history of Bankrate's 25-year old survey, dipping to 4.06%, from 4.11% the week before.

While the 1-year adjustable-rate mortgage held steady at 4.8% for a fourth week, the 5-year adjustable rate mortgage dropped to a record low of 3.92% from 3.95% the previous week.

"Low rates are helping to heal many battered local housing markets by increasing home-purchase activity, said Frank Nothaft, chief economist at Freddie Mac.

Mortgage rate applications inched up a modest 0.6% during the week, according to the Mortgage Bankers Association. Applications for purchase rose 0.3% while refinance applications increased 0.6%.  

.CO

The weekend is here, we hope you're enjoying the time with your family!

I'm sure you've all heard about the .co being the new .com....Opportunities do arise, for example COmpany, Corporation, COmmerce etc. It is a short alternative to .com and probably good for branding your business.

What do you think about the new .com

Closing Deadline For Tax Credit Moved To September

Closing Deadline For Tax Credit To Be Moved Back To September
Published on: Friday, June 18, 2010
Written by: Diana Golobay
    
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The Senate has approved an extension to the closing deadline for home buyers seeking to claim the tax credit. The extension would allow an estimated backlog of 180,000 first time buyers sufficient time to close on their transactions. See the following article from HousingWire for more on this.

Senators passed an amendment to the proposed American Jobs and Closing Tax Loopholes Act of 2010 that aims to give an estimated 180,000 prospective first-time homebuyers enough time to close on a purchase and qualify for federal tax incentives.

The bill — House Resolution 4213 — passed the House vote in December and moved through the Senate Committee on Finance in March. The amendment, sponsored by Sen Harry Reid (D-NV), that passed yesterday extends the home buyer tax credit by three more months.

"The first-time home buyer tax credit was an extremely popular and successful program that has helped Americans purchase homes and given a boost our economy," Reid said in a statement. "Because of this program's popularity and the time it takes to complete transactions such as short sales, I led the effort today to extend the closing deadline for this tax credit through September of this year — allowing lenders more time to clear a backlog of 180,000 potential home buyers nationwide."

Under the tax credit's current deadline, qualifying purchases that were under contract by April 30 must close by June 30. Under the Reid's amendment, that closing deadline would be pushed to Sept. 30, 2010 in an effort to ensure the qualifying sales can close.

Reid is joined in his effort by amendment co-sponsors Sen Christopher Dodd (D-CT) and Sen Robert Mendendez (D-NJ).

Senators voted on Wednesday 60-37 in favor of the Reid amendment. At the same time, they voted against a similar amendment by Sen Johnny Isakson (R-GA) that would also have extended the closing deadline for the first-time homebuyer tax credit.

According to a spokesperson with Isakson's office, the only difference between the amendments involved the method of paying for the tax credit extension. Isakson's amendment opted for unused stimulus funds from the $787bn Recovery Act passed in 2009. Reid's amendment, the spokesperson said, would have paid for the tax credit extension through eliminating the tax deductability of punitive damages.

A spokesperson for Reid's office did not return requests for comment.

This article has been republished from HousingWire. You can also view this article at HousingWire, a mortgage and real estate news site.

3 Mistakes You Can't Afford To Make

Deadly Mistake #1: Thinking you can't afford it.

Today, buying the home of your dreams is more affordable with lower rates.  Many people who thought that buying the home they wanted was simply out of their reach are now enjoying a new lifestyle in their very own new home.
Buying a home is the smartest financial decision you will ever make.  In fact, most American home owners would be financially broke at retirement if it weren't for one saving grace - the equity in their home.  Real estate values have always risen steadily.  Of course there are peaks and valleys, but long term the trend is a consistent increase.  This means that every month when you make a mortgage payment the amount that you owe on the home goes down and the value typically increases.  This owe less-worth more situation is called equity build-up and is the reason you can't afford not to buy.
It just comes down to knowing the right strategies, and working with the right people.  See below.

 Deadly Mistake #2:  Not hiring a buyer's agent to represent you.

Buying property is a complex and stressful task.  In fact, it is often the biggest single investment you will make in your lifetime.  At the same time, real estate transactions have become increasingly complicated.  New technology, laws, procedures and competition from other buyers require buyer agents to perform at an ever-increasing level of professionalism.  For many home buyers, the process turns into a terrible, stressful ordeal.  In addition, making the wrong decisions can end up costing you thousands of dollars.  It does not have to be this way!

Work with a buyer's agent who has a keen understanding of the real estate business and who is on your side.  Buyer's agents have a fiduciary duty to you.  That means they are loyal to only you and are obligated to look out for your best interests.  Buyer's agents can help you find the best home, the best lender and the best inspector.  Best of all, in most cases, the buyer's agent is paid out of the seller's commission, even though he/she works for you.

Trying to buy a home without an agent at all is, well... unthinkable.

 
Deadly Mistake #3:  Getting a cheap inspection.

Buying a home is probably the most expensive purchase you will ever make.  This is no time to shop for a cheap inspection.  The cost of a home inspection is very small relative to the home being inspected.  The additional cost of hiring a certified inspector is almost insignificant.  As a home buyer, you have recently been crunching the numbers, negotiating offers, adding up closing costs, shopping for mortgages and trying to get the best deals.  Do not stop now.  Don't let anyone talk you into skimping here.