Archives for November 2011
Congress Restores FHA Loan Limits
November 18, 2011 By Leave a Comment
The U.S. House and Senate yesterday restored FHA loan limits to the level they were at before they were allowed to expire at the end of September. As a result, the limits will rise to 125 percent of the area median home price from 115 percent, up to a maximum $729,750 from $625,500. NAR estimates that several hundred counties where FHA loan limits fell at the end of September will now rise back up to the previous level.
“The reinstated loan limits will help provide much needed liquidity and stability to communities nationwide as tight credit restrictions continue to prevent some qualified buyers from becoming home owners and the housing market recovery remains fragile,” said NAR President Moe Veissi in a statement released last night.
President Obama is expected to sign the legislation shortly. The restored loan limits are in a broad-based bill that includes funding for a wide variety of federal operations and programs.
The maximum conforming loan limits for secondary mortgage market companies Fannie Mae and Freddie Mac also expired at the end of September, but lawmakers did not include a restoration of those limits in the bill. As a result, conforming loan limits will remain at 115 percent of the area median home price, up to $625,500.
Once President Obama signs the bill, the limits will go into effect. FHA will release a mortgagee letter to its approved lenders thereafter, containing a list that’s been updated to reflect the new limits. NAR analysts say it will take the agency a short period to update its database and release the mortgagee letter, maybe a couple of weeks.
The funding bill also extends the National Flood Insurance Program (NFIP) until Dec. 16 to allow lawmakers time to consider long-term authorization of that program, which is an NAR priority.
Goldman Reveals What You're Getting For Christmas
November 18, 2011 By Leave a Comment
Despite bleak consumer confidence, 51% of consumers expect to spend the same amount on gifts this holiday season compared to last year. 11% expect to spend more. This is according to 1000 consumers polled by Goldman Sachs.
63% of respondents plan on giving gift cards, while 56% plan on giving clothing. Gift cards and jewelry are expected to gain significant "gift wallet share", which is the percentage of total gift spending.
The "gift wallet share" for consumer electronics is up only 30 bp this year. Meanwhile, after declining 60 bp last year, the share of clothing is up 20 bp this year.
Based on the survey results, Goldman analysts Michelle Tan, Matthew J. Fassler, Adrianne Shapira and Michael Kelter believe that the TJX Companies, which include retail chains like T.J. Maxx and Marshalls, and American Eagle Outfitters are poised to do well in the holidays. Goldman has buy ratings on both stocks.
TJX Companies is expected to benefit from shoppers looking for a bargain and the slight recovery in clothing gift share. Meanwhile, American Eagle is expected to be a key destination for consumers who intend on focusing less on themselves and more on gifts for the family.
Now here’s a chart from the Goldman report that shows this Holiday’s "gift wallet share":
Smart Self-Adjusting Thermostat Learns Your Living Habits
November 18, 2011 By Leave a Comment
Did you know that the average homeowner  turns on (or off) the heat, or cranks up (or down) the cold, 1500 times per year?
Of all the things we could automate and rarely do, temperatures seem too tempting a candidate to pass up. Hence the new Nest, a self-scheduling, temperature-regulating device every home should hope is in full production (currently in pre-order) for this (chilly) holiday season.
It starts, as usual, with manual inputs, but adapts to patterns naturally over time, learning when you are usually at home or away, night and day, and showing a green-leaf signal when it is in energy-saving mode.
Remote-controllable too, you can use your smartphone to tweak the temp while away from the house, and when you are around, well, it is a handsome piece of wall hardware as well.
You CAN Make A Difference
November 17, 2011 By Leave a Comment
I want to challenge you to make a difference in the lives of these your girls. Click here for more information. You can be assured, this is the real thing, the kind of organization that does what it says… join me in making a difference.
The Fuzzy Math of Home Values
November 17, 2011 By Leave a Comment
From a report in the Wall Street Journal.
The calculations behind online estimates is adding confusion to an already tricky housing market.
Personally, I have found the Zillow tool great fun and often informative of trends and high-level statistics. The reality is, that as a valuation source, Zillow can’t possible know the intricacies of the home, street appeal, neighborhood conditions etc.
Boeing 787 Dreamliner
November 17, 2011 By Leave a Comment
The Boeing 787 Dreamliner is a long-range, mid-size wide-body, twin-engine jet airliner Boeing Commercial Airplanes. It seats 210 to 290 passengers, depending on the variant. Boeing states that it is the company’s most fuel-efficient airliner and the world’s first major airliner to use composite materials for most of its construction. The 787 consumes 20% less fuel than the similarly-sized Boeing 767. Some of its distinguishing features include a four-panel windshield, noise-reducing chevrons on its engine nacelles, and a smoother nose contour. developed by
The aircraft’s initial designation was 7E7, prior to its renaming in January 2005.The first 787 was unveiled in a roll-out ceremony on July 8, 2007, at Boeing’s Everett assembly factory, by which time it had become the fastest-selling wide-body airliner in history with 677 orders. By October 2011, 797 Boeing 787s had been ordered by 57 customers, with ILFC having the largest number on order.
The 787 development and production has involved a large-scale collaboration with numerous suppliers around the globe. Final assembly is at the Boeing Everett Factory in Everett, Washington. Aircraft will also be assembled at a new factory in North Charleston, South Carolina. Both sites will deliver 787s to airline customers. Originally planned to enter service in May 2008, the project has suffered from repeated delays and is now more than three years behind schedule. The airliner’s maiden flight took place on December 15, 2009, and completed flight testing in mid-2011. Final Federal Aviation Administration and European Aviation Safety Agency certification was received in late August 2011 and the first model was delivered in late September 2011.
The Former Dining Room Workspace
November 16, 2011 By Leave a Comment
If you want a home office but don’t have the space, consider converting another room. That’s what Crystal, the creator of today’s featured workspace, did to her dining room with only $105 and a few things she already owned.
The original dining room space was pretty dull, cluttered with old furniture and a table used to collect mail rather than seat dinner guests. As part of a sub-2,000-square foot house, wasted space is a big problem. Crystal decided to turn the dining room into the attractive workspace pictured above. She did this with a $105 budget, buying her a couple of table tops, filing cabinets, shelves, and a more modern lighting option (previously, the hanging light was a chandelier). She managed this by getting a few good deals at IKEA and buying second-hand whenever possible. This just goes to show how a little money can go a long way.
To see the before and after shorts, plus plenty of additional images, be sure to check out the full post over at The Weekend Homemaker: Home Office: Before and After
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