10 Tips to Banish Mold from the Home

Often, our first encounter with mold at home occurs in that infamous spot between the shower curtain and tub. Unfortunately, in most homes, this isn’t the extent of the mold—the more problematic mold is the insidious kind, hiding behind walls and in floorboards, and potentially contributing to a range of allergies and other illnesses. In fact, a 1994 study by the Harvard University School of Public Health, which involved 10,000 homes in the U.S. and Canada, found that half of those homes had mold levels that participants said caused a 50-100% increase in distressing respiratory symptoms.

What causes mold? Surprisingly, advanced building materials are one of the main culprits. In the last few decades, buildings have increasingly been made to prevent the infiltration and exfiltration of air, leading to higher humidity levels. The insulation materials used in this type of construction contain cellulose and other materials that lock in moisture. Adding to the problem, many wall cavities are wrapped in plastic, allowing for even more moisture. An aging home is at even greater risk, as normal occurrences like window and roof leaks bring in even more moisture—and moisture is a direct cause of mold. Limited ventilation or sunlight only makes the problem worse, and things can get bad fast—one square foot of moldy drywall can harbor more than 300 million mold spores.

When you hear the term “mold,” it can generally be one of two types—allergenic mold, and black mold. Allergenic mold is found in nearly every home, in some amount, however small. This type can provide unpleasant symptoms if it becomes excessive, depending on a person’s sensitivity level. These symptoms include fatigue, nasal and sinus congestion, skin and eye irritation and headaches. While these symptoms can be extremely annoying and make someone ill, they’re almost never life-threatening.

What’s much more dangerous, however, is toxic mold—more commonly, the black mold stachybotrys. Shockingly, over 27% of homes in the U.S. contain black mold. Black mold, in smaller amounts, causes many of the same symptoms as allergic mold, but, in high levels or among people with preexisting conditions or compromised immune systems, black mold can cause neurological damage, causing debilitating headaches and even memory problems.

How do you find the mold in your home? Sometimes it’s easy—it may be right in front of you, or you’ll find it by its distinctly musty smell. Though it’s harder to find hidden mold, you can do so by looking behind and beneath fixed materials and appliances: refrigerators, dishwashers, sink cabinets, washer/dryers, carpets, vinyl flooring—anywhere near where water flows or where air doesn’t penetrate readily. Also, look for signs of discoloration on walls and ceilings; this can denote a moisture buildup behind which mold may lurk.

Once you find the mold, remove it with a store-bought anti-fungal solution, or get rid of it with a weak bleach solution—1 cup bleach in 1 gallon of water. (If mold exists in an area over 2 square feet, call a professional to have it removed). But even more important than removing it is eliminating as many of its causes and sources as possible.

Follow these 10 tips to drastically reduce the mold in your home: 

1. Call in a home inspection professional to assess water-damaged areas.

2. Keep humidity low. Humidity levels should be under 40% in order for mold to stop its forward march.

3. Replace any carpets and furniture that have ever been significantly damaged (i.e., saturated in water), even if they look OK on the outside.

4. Carpet in the bathroom or basement? Don’t even think about it. And if you have it, get rid of it.

5. Use an air-conditioner during the summer. We know it’s not cheap to run the A/C, but if it’s in the budget, even setting it to 80 degrees when it’s 90-plus outside, will help. Use fans to circulate A/C most effectively.

6. Dust and clean furniture regularly, and vacuum carpets at least once a week (make sure your vacuum has a HEPA filter).

7. Provide adequate ventilation in hot areas. The kitchen and bath are two of the highest-risk rooms for mold. Install exhaust fans in the kitchen and bathroom.

8. When you’re shopping for house paint for big or small painting projects, ask the sales rep about mold inhibitors you can add before painting.

9. Does your central air system have a fan from the Ford Pinto era? If so, replace it with a high-performance electrostatic air filter. Your local HVAC technician can help withy this.

10. Don’t neglect areas underneath the house—have a professional drain and ventilate all sub-basement areas, especially crawl spaces.

Charles Furlough is vice president of Pillar To Post Home Inspections.

... ever tried the #1 real estate website in the U.S.?

REALTOR.com® attracts over 37.4 million visits every month.2 and is where consumers spend more time searching than any other real estate website. The new release of REALTOR.com® in September 2010 offers consumers a new national agent directory and improved search experience:
	The most homes for sale - from 900+ MLS boards The most accurate data & listings, with most listing updated every 15 minutes The most intuitive & comprehensive search experience

Steel Buildings Become More Popular for Residential Homes

Steel buildings are becoming more common in residential buildings as their versatility expands with greater consumer demand. They are sought after for their affordability, strength, durability and versatility in the building process. Once used primarily for warehouses, garages, sheds and additional storage facilities, today even residential homes are being built with steel buildings. SteelBuildings.org offers further insight into the latest trend.

Once used for large industrial purposes, many smaller scale structures are using metal construction, such as churches, schools, retail stores and private residential homes. In the past, the affordability and durability of such buildings were over shined by the lack of curb appeal. Now the exterior of steel buildings can be finished in brick, siding, stucco and additional options. They are easy to maintain, well insulated and can be constructed much faster than using more traditional materials. They also cost much less than stick built homes of the same size and quality.

The versatility of the way these metal structures are framed is another attractive quality. They can be fully framed to look just like conventional home or they can have a completely open floor plan with minimal interior walls. The pole construction methods used during the construction process make the walls non-load bearing, so the poles support the weight of the walls. By having non-load bearing walls, a home can have dramatic, wide-open spaces for a living room or kitchen and yet have smaller rooms for
bedrooms and bathrooms. This option has lower framing costs as well.

How to Build Your Castle

My modest neighborhood is changing. Where once there were one-story stucco houses, now every other house is a mcmansion. All are two stories, with enough balconies to fill an opera house. Judging by the architecture, the builder bought one set of plans and has been using them ever since, with minor alterations.

Now you, too, can build your dream house, with an inexpensive program called Turbo Floor Plan Home and Landscape Pro. It's easy to use, lets you change your mind a thousand times without annoying your expensive architect, and the results are realistic enough that you can take a virtual walk-through each time to try a new theme, change your floor plan or try a new shade of paint. There even are elements for designing plumbing, electrical work and heating and air conditioning. If it's part of a house, you'll find the tools to make it happen.

After you've designed your exterior and interior, you can start landscaping projects. You won't have to guess which plants will thrive in your climate — a huge glossary of plants will handle that chore for you. There are tools for building sprinkler systems, and you can watch as plants grow over time.

There's much more, such as how to design exterior lighting and how fences and gates will look on your estate. There also are tools for remodeling that will help you move walls, change lighting and do everything the house-building tools will do.

Now all you have to do is find a builder with expertise in mcmansions, and borrow some green stuff, the kind that doesn't grow in gardens.

(c) 2010, McClatchy-Tribune Information Services.

10 Low-Cost Tips to Improve Your Home's Appeal

When selling your home, the goal is to sell it quickly for the highest price while investing as little as possible in renovations. With a limited budget and a little effort, you can greatly increase your home's appeal by focusing on what prospective buyers can see on their first visit. The experts at BuyOwner.com offer the following recommendations for preparing a house for sale and staging it for showings. 

Tip #1: Refresh the exterior
First impressions count when it comes to selling a home. Most buyers won’t even leave their car if they don’t find the exterior appealing. The best ways to improve your home’s exterior include: 
-Repairing and/or replacing trims, shutters, gutters, shingles, mailboxes, window screens, walkways and the driveway. 
-Painting siding, trim and shutters and lamp and mailbox posts. 
-Pressure washing vinyl siding, roofs, walkways and the driveway. 
-Washing windows. 

Tip #2: Spruce up the lawn and landscape
Home buyers associate the condition of your lawn and landscaping with the condition of your home’s interior. By improving the outside, you affect buyers’ impression of the entire property. The best ways to enhance the yard include: 
-Mowing and edging the lawn. 
-Seeding, fertilizing and weeding the lawn. 
-Keeping up with regular lawn maintenance by frequent watering.
-Trimming and/or removing overgrown trees, shrubs and hedges. 
-Weeding and mulching plant beds. 
-Planting colorful seasonal flowers in existing plant beds. 
-Removing trash, especially along fences and underneath hedges. 
-Sweeping and weeding the street curb along your property. 

Tip #3: Create an inviting entrance
The front door to your home should invite buyers to enter. The best ways to improve your entry include: 
-Painting the front door in a glossy, cheerful color that complements the exterior. 
-Cleaning, polishing and/or replacing the door knocker, locks and handles. 
-Repairing and/or replacing the screen door, the doorbell, porch lights and house numbers. 
-Placing a new welcome mat and a group of seasonal potted plants and flowers by the entry. 

Tip #4: Reduce clutter and furniture
A buyer cannot envision living in your home without seeing it. A home filled with clutter or even too much furniture distracts buyers from seeing how they can utilize the space your home offers. If you have limited storage space, you may want to consider renting a temporary storage unit to place items you wish to keep. The best ways to declutter your home include: 
-Holding a garage sale to prepare for your move, getting rid of unnecessary items.
-Removing clutter such as books, magazines, toys, tools, supplies and unused items from counter tops, open shelves, storage closets, the garage and basements.
-Storing out-of-season clothing and shoes out of sight to make bedroom closets seem roomier. 
-Removing any visibly damaged furniture. 
-Organizing bookshelves, closets, cabinets and pantries. Buyers will inspect everything.
-Putting away your personal photographs, unless they showcase the home. Let buyers see themselves in your home.
-De-personalize rooms as much as you can.

Tip #5: Clean, clean, clean
The cleanliness of your home also influences a buyer's perception of its condition. The appearance of the kitchen and bathrooms will play a considerable role in a buyer's decision process, so pay particular attention to these areas. The best ways to improve these areas include: 
-Cleaning windows, fixtures, hardware, ceiling fans, vent covers and appliances. 
-Cleaning carpets, area rugs and draperies. 
-Cleaning inside the refrigerator, the stove and all cabinets. 
-Removing stains from carpets, floors, counters, sinks, baths, tile, walls and grout. 
-Eliminating house odors, especially if you have pets. 
-Considering air fresheners or potpourri. 

Tip #6: Make minor repairs
The small stuff does count, especially with first-time home buyers. Without dismissing the importance of repairing major items such as a leaky roof or plumbing, you do not need to spend money on replacing these items. Instead, focus on the minor repairs that will make your home visually appealing. The best ways to improve your home include: 
-Repairing ceilings and wall cracks. 
-Repairing faucets, banisters, handrails, cabinets, drawers, doors, floors and tile. 
-Caulking and grouting tubs, showers, sinks and tile. 
-Adding fresh paint to ceilings, walls, trim, doors and cabinets. 
-Tightening door handles, drawer pulls, light switches and electrical plates. 
-Lubricating door hinges and locks. 

Tip #7: Showcase the kitchen
The heart of any home is the kitchen. If you are going to spend any money on renovations, this is the one area where you will see the greatest return. Even with a modest budget, focusing on a few key areas can make a great difference in getting the asking price for your property. The best ways to showcase the kitchen include: 
-Replacing cabinet doors and hardware. 
-Installing under-cabinet lighting. 
-Replacing light fixtures. 
-Replacing outdated shelving with pantry and cabinet organizers to maximize space. 
-Baking cookies or cupcakes for a showing, to create a homey smell.

Tip #8: Stage furniture
Furniture placement can enhance the space of your home while giving buyers an idea of how to best utilize the space with their own belongings. Take some time to rethink how different areas in your house could be used. Some ideas to think about include: 
-Moving couches and chairs away from walls in your sitting and family rooms to create cozy conversational groups. 
-Creating a reading corner in the master bedroom. 
-Clearing an empty room to set up a reading space. 
-Turning an awkward space into a home office. 
-Setting the dining room table with your best china.
-Set wine glasses in front of the fireplace or next to a Jacuzzi tub.

Tip #9: Light up the house
Create a sense of openness and cheerfulness in your home through its lighting. To improve the lighting try: 
-Opening shades and drapes to let the sunshine warm and brighten rooms. 
-Installing brighter light bulbs in rooms that tend to be dark. 
-Adding additional lamps for ambient lighting. 
-Turning on all the lights for a showing.

Tip #10: Add fresh touches
You can easily add color and style to your home by adding fresh touches throughout. Some ideas to consider include: 
-Placing fresh floral arrangements in the entry and master bedroom. 
-Placing bowls of bright-colored fruit in the family room and the kitchen. 
-Filling an empty corner with a potted leafy plant. 
-Setting new hand soap in the bathrooms.
-Displaying fresh towels near sinks.
By Paige Tepping

Big banks step up efforts to modify mortgages

Click here
Plus...
Citigroup to help at-risk borrowers stay in homes
and...
Gov't to announce new loan aid effort...
An industry official who worked on the plan said the new approach will allow lenders to modify more delinquent loans by establishing criteria to speed up the process. The official spoke on condition of anonymity because details had not been announced.

For bailout to work, housing market needs to mend

(AP) NEW YORK - Washington's financial bailout plan is now law. So the credit spigot will start flowing again, banks will resume lending, and an economic recovery can begin, right?... read more here.

IRS Provides Homeownership Credit Guidance

Click IRS guidance to take advantage of the $7,500 homeownership tax credit. The IRS material, IR-2008-106, explains how individuals who use the credit will reflect it on their tax returns and receive the benefit from any refund. NAR has also created a summary of how the credit works.

Existing-home Sales Slide on Tight Mortgages

Existing-home sales were down in August following a healthy gain in July as tight mortgage credit curtailed activity, click here. Sales rose in the Midwest and South but fell in the Northeast and West. Nationally, existing-home sales, including single-family, townhome, and condo, declined 2.2 percent to a seasonally adjusted annual rate of 4.91 million units from an upwardly revised pace of 5.02 million in July. "Sales reflect higher interest rates before the government takeover of Freddie Mac and Fannie Mae," says NAR Chief Economist Lawrence Yun.

What's a Short Sale?

A short sale occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed.

Foreclosure Investing in an IRA - What You Need To Know

By Jeffrey Roth, Equity Trust Company
Investing in a foreclosure property with your IRA can be a great way to increase your available funds to make deals and possibly grow any earnings tax-free. Yeah, tax-free earnings. For those veteran investors (and learned newbies), tax-free earnings is exactly what you have been looking for. That is one of many benefits of investing with your self-directed IRA that can help build your wealth portfolio. Here are a few points everyone needs to know to help get started:

1) Get that foreclosure. Your IRA can purchase a foreclosure property which could free up other available funds for additional investments. Notice the 'Your IRA' part of that statement. Since your IRA owns the property, all expenses that go into the property must come from the IRA account. Because of this, your IRA can reap certain tax advantages (#4). If your IRA doesn't have enough to own and maintain an investment property outright, you could always own a specified portion of a home through a partnership (undivided interest) or look into non-recourse loans.

2) Go ahead, sell it or rent it out! If you decide to rent or sell a property, that decision is completely up to you. Either way, it will help you reach your investing goals if you’re using a self-directed IRA. The funds received from a sale or income from renters would go directly toward growing your IRA account, which in turn, will help you make more out of your investments.

3) Tax-Advantages! The two types of IRAs, Traditional and Roth, have different tax advantages. With a Traditional IRA investment, you would not have to pay tax on any earnings until you started making qualified distributions at 59.5 years old. The idea is that you could possibly be in a lower tax bracket at that time and enjoy the fruits of your labor with less tax applied than you do today. The Roth IRA allows you to grow all earnings tax free (meaning you never have to pay tax on it) since the money used to fund the account is 'after-tax'. Paying tax later at a lower rate (Traditional) or not ever paying tax on earnings (Roth) makes that foreclosure investment look even better, doesn't it?

4) Where’s your IRA at? To invest in foreclosures with your IRA it must be a self-directed IRA. Unfortunately, most financial institutions will not allow you to self-direct your IRA investments because they want you to invest in their stocks, mutual funds, and bonds portfolio. To get out of that trap and start choosing where your money is invested (i.e. foreclosures), you need the assistance of a qualified and experienced self-directed IRA custodian. A custodian acts on your behalf to facilitate your self-directed investments through IRAs, 401ks and other small business retirement accounts.

5) Do your research. Self-directing IRA investments in real estate is perfectly legal and has been since 1974. You should be aware of the guidelines the IRS has published about IRAs (IRS Publication 590). You wouldn't invest in a home without knowing about the property, would you? Knowing your investment funding options should be treated the same way. Consult your financial team (custodian, CPA, and/or lawyer) to learn as much as you can to maximize your investment's tax benefits. Do some homework, find the right self-directed IRA custodian, and free up additional capital to start growing your foreclosure investments tax-free! Using a self-directed IRA is a great way to build out your investment portfolio and reach your financial goals. Jeffrey A. Roth is the Real Estate Channel Manager at Equity Trust Company. Equity Trust Company is an experienced self-directed IRA custodian with 34 years of service and is recognized as an industry leader with over $3 billion in managed assets. Learn more about self-directed IRAs at www.trustetc.com.

Making Sense of the Fannie & Freddie Takeover + Good news for Albuquerque

The Federal Government has announced that it has taken control of Fannie Mae and Freddie Mac, which own or guarantee almost half of the country's $12 trillion in outstanding home mortgage debt. They play a vital role in the U.S. economy by making fair and affordable mortgage loans available for home buyers and owners. They support the housing market by purchasing mortgage loans from the banks that originate them, giving the banks the cash to make more loans. They package those loans into securities and ensure repayment. They sell the securities to investors around the world, or retain them for their own portfolios.

The Federal Government's sweeping takeover of mortgage market giants is expected to have positive short-term benefits to the real estate market and opens the door for the industry to shape the restructuring of the companies.

Allowing either Fannie or Freddie to fail would hurt us all... Our ability to get home and auto loans, and even hamper economic growth and job creation.

What the Plan Involves

Under the Treasury Department's action, the two government-sponsored enterprises are placed in a government conservatorship and overseen by two government-appointed chiefs, former Merrill Lynch vice chairman Herbert Allison at Fannie Mae and former U.S. Bancorp CFO David Moffett at Freddie Mac.

Daniel Mudd, who led Fannie Mae for the last few years, and Richard Syron, his counterpart at Freddie Mac, have been relieved of their jobs.

The federal government is taking up to an 80 percent stake in the companies and will review their financial condition on a quarterly basis, injecting money into their operations as needed. The government is directing the companies to help stabilize housing markets by requiring them to increase their mortgage funding over the next year and a half.

For the long-term, the companies and their regulator, the Federal Housing Finance Agency, will begin planning for a major reorganization of their operations, away from their current 100-percent, privately owned model.

According to news reports, one of the models being discussed is something akin to a public utility, in which the government sets limits on the amount of annual return on equity to shareholders.

Positive Real Estate Impact

For the real estate industry, the short term impact is expected to be positive. With the government now explicitly backing the companies' mortgage obligations, the market for the GSE securities will be treated more like Treasurys, thereby exerting downward pressure on rates.

That will help drive a positive cycle of investment as investors return to the market, further lowering rates and generating funds to lenders to expand their mortgage loan operations. That is expected to help speed up housing sales in markets across the country and help stabilize home prices.

The main down side to the federal intervention will be felt by the companies' current shareholders, who will no longer receive dividend payments and whose holdings are diluted by the equity stake of the federal government.
— REALTOR® Magazine Online

Part of the Problem

At one point earlier this year, as the credit crunch worsened, the two companies were responsible for about 80% of all loans being originated in the U.S. But the rise of foreclosures weakened their balance sheets and raised their borrowing costs, reducing their ability to support the market. As the housing downturn worsened, the two companies came to be seen as part of the problem instead of part of the solution.

Technically, Fannie and Freddie have been placed under "conservatorship," a term that ordinarily means they are being stabilized with the objective of returning them to normal operation.

Taxpayers at Risk

It's impossible to say how much the effective takeover of Fannie and Freddie will cost taxpayers. If housing prices begin to recover and foreclosure rates don't get too high, the cost to the government could be very small or zero, because Treasury will earn a return on its preferred shares and get all its secured loans repaid.

Still, the deal is likely to draw criticism because it puts taxpayers at risk while boosting the value of Fannie and Freddie's bonds and mortgage-backed securities, which are held by banks and other investors around the world. Asian central banks, in particular, are large holders.

One group that won't be getting any kind of a bailout: Fannie and Freddie's ordinary common shareholders. They stand last in line for any money the two companies make. Share prices of both Fannie and Freddie have lost more than 90% of their value over the past year, in anticipation of a takeover. In after-market trading on Sept. 5, as word of the conservatorship plans leaked out, Fannie shares were trading around $5.50, down from $70 a year ago, while Freddie Shares were at about $4, down from $65 a year ago.

Candidates Weigh In

Senator John McCain, the Republican Presidential candidate, said at a rally in Albuquerque: "We need to keep people in their homes, but we can't allow this to turn into a bailout of Wall Street speculators." Doug Holtz-Eakin, McCain's top economic adviser, said that longer term, "We believe these institutions should not be making money" through government support. "They have to shrink to a point where they are not a threat, that they are not operating essentially as a big hedge fund."

Senator Barack Obama, the Democratic Presidential candidate, released a statement on Sept. 7 saying, "Given the substantial role that Fannie Mae and Freddie Mac play in our housing system, I believe that some form of intervention is necessary to prevent a larger and deeper crisis throughout our entire economy." He said he wasn't yet ready to say whether Treasury's solution was the right one.
by Peter Coy and Theo Francis

Good news for Albuquerque
by Forbes.com

Believe it or not, in the future people will be buying and selling homes. Some of them will even make a profit.

It's not so crazy an idea. Consider Albuquerque, N.M. The mid-sized Southwestern city has experienced housing price declines since a peak in the third quarter of 2007, job growth has been flat, and housing starts are expected to fade by 45% through the end of 2008. Nevertheless, it's a city that home builders and economists are bullish about for 2010 and beyond.

According to analysts at Moody's Economy.com, Albuquerque's job growth through 2012 is projected at an average annual rate of 1.6%, fueled in large part by its low costs and local business expansion. Housing starts in the city are expected to reverse course in 2009, growing by 26.6%, according to the National Association of Home Builders (NAHB). This means builders have high hopes for 2010 and 2011, when those homes will be completed and on the market.

It's the same story in several other cities: more tough times to come in the short term, but potential for a recovery and a rise in prices in the long term.

Behind The Numbers

To determine where house prices are expected to rise next, Forbes.com looked at projections for housing starts from the NAHB and job-growth figures from Moody's Economy.com, for the 100 largest metro areas in the U.S. The estimates are based on the cost structures of business in the respective cities and the composition of the local economies.
Housing start projections from the NAHB may seem like wishful thinking, but the NAHB data are filled with laggards, signifying some realistic thinking. Housing starts in Las Vegas are expected to drop by 32% in 2008 and actually get worse in 2009, falling by a further 43%.

In overbuilt, highly leveraged Phoenix, starts are predicted to fall 50% this year and descend another 11% more in 2009.

Because houses take six months to two years to build, that means home builders aren't expecting profits in the Vegas or Phoenix market until past 2011.

"These are some of the most overbuilt markets," says Robert Denk, an economist at the NAHB. "There are some markets that got really out of hand and they're going to be in trouble for a couple years still." He cites Cape Coral, Fla., as the poster child of overbuilding exuberance. "They built 10 years of housing in two years." The prognosis isn't as bad elsewhere.

Texas On The Rise?

Centex, one of Texas' largest homebuilders, has been stung by overextension into Michigan and Colorado, as well as big bets on the vacation-home market in Texas. In July, the builder reported losses of $150 million.
There's a bright spot, however.San Antonio and Austin, Texas, have largely avoided the real estate crash, with price increases of 2.5% and 4.1% in year-over-year terms, respectively, according to the NAR. This is driven in part by the fact that the two markets are expecting building slowdowns of 24.7% and 28.2%, respectively, through the end of the year, as home builders are bearish about the remainder of 2008 and 2009 in the sales market or cannot find financing. Builders as a whole are taping their wounds and cutting back production, adopting a wait-and-see approach to home prices in the coming year.
But for the start of 2010 and into 2011, builders expect a more vibrant market for sellers. For homes built in 2009, which would come off the conveyor belt in 2010 and 2011, the NAHB forecasts a 9.6% increase in Austin and a 20.9% increase in San Antonio above 2008 levels. Much of that has to do with expected job growth in all non-farm sectors.

Recovery In Obvious Places

At this point, it's clear the subprime contagion won't be contained in the next year, based on the acceleration of home price drops and foreclosures nationwide. But when the bad vintages of loans finally come off the books, the cities where prices are expected to rebound are largely those with vibrant economies.
"The logic is pretty straightforward," says Mark Zandi, chief economist at Moody's Economy.com. "People will spend as much on housing as their income will allow them. House prices are very closely tied to household income over the long run when you look at business cycles."

This means that recovery is likely in the cards for even the hardest-hit spots. Cities like Atlanta and Colorado Springs, may be reeling from high defaults and foreclosures, but from 2007 through 2012, their economies are expected to experience 2% and 1.6% average annual job growth. That means more in-migration and more money in the economy, factors that help businesses grow and profit--and put more money in residents' pockets.

As local economies grow bigger and more dynamic, land values increase because the value of what can be produced on that land increases. When land prices go up, home values go up.

Home prices moving up; it sort of makes one nostalgic.

Provided by:
Brandon DENT : (505) 550-6388
REALTOR® : 1-877-821-8054 (toll free)
MyPropertyNow.com (All a Buyer and Seller needs)



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Officials announce takeover of mortgage giants

AP - The Bush administration, acting to avert the potential for major financial turmoil, announced Sunday that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac... click for more.