McLean, VA -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS ) in which the 30-year fixed-rate mortgage (FRM)averaged 5.20 percent with an average 0.7 point for the week ending July 9, 2009, down from last week when it averaged 5.32 percent.
For real estate investors buying houses at discount prices, it could be a hot new trend. Instead of simply doing the usual renovations, paint jobs and landscaping to turn around properties for resale or rental, growing numbers of investors are emphasizing energy efficiency improvements to increase market values and cut marketing times.
Now is the time, in a recessionary economic cycle, when owners of investment properties begin to get calls from tenants about rent reductions, forbearance, assistance, desire to cancel their lease and a number of other requests for what amounts to financial assistance from their landlords. In these times it is hard for a landlord to know which way to turn given their own financial situation, the size of their mortgage and other variables.
With the stock market still jumpy and investors worried that the global recession may not be ending soon enough, it may seem a little surprising to see strong positive signs in the home real estate market.
Successful builders have known for years that in order to succeed they must offer a product that meets -- and exceeds -- the needs of their buyers. Today, buyers want green, no doubt, but green that makes economic sense. The Bridges, a new development, geothermal community in Lincoln, Nebraska (go Big Red!), is proving that enviro-friendly can be economically viable as well. Built by Mike Rezac of Rezac Construction, this " a completely geothermal community using a network of strategically located ponds throughout the 200-acre development.
As any daredevil, extreme sports addict or adrenaline junkie knows, well-grounded preparation for the specific task at hand is what takes the fear out of trying.
[Note: To follow is an excerpt of an interview with Dean Essa, residential and commercial agent with RE/MAX Achievers in Chandler, Arizona and co-host Income Property Investment Talk. To listen to the show archive or download an MP3, go to www.IncomePropertyInvestmentTalk.com/061709.]
Recently, the U.S. Secretary of Energy encouraged Americans to paint their roofs white, in an effort to reduce global warming by both conserving energy and reflecting sunlight back into space. Speaking in London prior to an international summit on combating climate change, Dr. Chu said that the simple act of painting roofs white could have a dramatic impact on the amount of energy used to keep buildings comfortable. A white roof is a good idea, but a highly reflective metal roof is even better. New technologies allow even darker colored metal roofs to absorb less heat through the use of highly reflective pigments that reflect solar energy.
Looking to move just for the fun of it?
Springfield, Illinois, one of the central markets in the country, is starting to show signs of a turn-around. Sales are still down compared to year over year, however, the number of listings have dropped month after month, coupled with pending sales on the rise, as well. Here are the numbers according to Springfield bloggers Fritz and Kristi Pfister of Re/Max Professionals.