June 2008
Volume 11 Issue 6
Tighter Lending Standards Good For Housing
Tighter lending criteria and fallout from the subprime loan debacle will lead to a healthier housing market with greater assurance that owners can handle mortgage adjustments, but higher loan standards will slow the housing recovery.
David Lereah, NAR’s chief economist, says the changes are necessary for the long-term health of the housing market. “We want people to be able to stay in their homes with mortgage terms they understand and can handle. Simply stated, a loan with the lowest monthly payment probably isn’t in your best interests – borrowers need to understand worst-case scenarios. If you’re in a mortgage you aren’t comfortable with, now is an excellent time to refinance, if you can, with historically low rates on safer conventional loans.”
According to Lereah, tighter lending standards will dampen home sales a bit, but by less than a couple of percentage points from initial projections. The housing forecast for 2007 is still clear as the fourth highest year on record for existing-home sales.
Source: National Association of Realtors
This months joke:
Question: What flies and wobbles?
Answer: A jellycopter!
Health Tip: Grill Safely
To prevent your grill from becoming a safety hazard this summer, follow these helpful suggestions from the Home Safety Council:
• Keep the area surrounding the grill free of children and pets until the grill has completely cooled.
• When the grill is in use, be sure it is at least three feet away from any structure or object –including trees, shrubs or the house.
• When using a charcoal grill, only use lighter fluid designed for such grills.
• When using a gas grill, check the connections between the tank and the grill carefully before each use.
• Never check for gas leaks using a match.
Source: Forbes
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New Holiday/Vacation Homes For Sale
Question: How to Get the Most Out of Your Vacation Home Purchase
Thinking about purchasing a vacation home? These days it pays to check out the community and the home. Here are a few aspects worth considering before jumping in:
The view really does matter. Studies show that a property’s distance to water or proximity to open space, such as a golf course, increases home values by 20%.
Take a drive on the local roads. Acquaint yourself with the area and get a feel for the traffic. If you’re looking to get away from the hustle and bustle, be sure that you do!
Getting a place near the slopes or the sand means that you’ll probably have visitors quite often, maybe more than you thought! Architect Chris Lessard recommends getting a place with one more bedroom than what you “need”.
Vacation homes are many times subject to environmental stresses simply because of location. Look for solidly made homes with low maintenance materials. If a storm comes, you’ll be glad you did!
Source: Real Estate
Have questions? email Risa at questions@risa.net or call her at 1-800-699-4901
Father's Day on the Net - Welcome
Use This Moving Truck for FREE 
RE/MAX Town & Country Realty has a moving truck (pictured above) that our clients can use FREE for their local (inside the Metro-Orlando area) moves.
When Risa helps you buy or sell a home, just let her know that you would like to use the RE/MAX Moving Truck. Then Ray, the Moving Truck Coordinator, will coordinate your reservation to use the truck for a 24 hour period and outline all of the details for the truck’s use. Tell Risa early on in your transaction that you’d like to use the truck to make sure that you can reserve the best time for your move!
We’re glad to be able to offer this additional service to our clients. Risa Saltman wants to help make your moving process as smooth, enjoyable and efficient as possible.
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