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December 2009 - Happy Holidays!

Inside This Month’s Newsletter:

• Mortgage Applications Rose 8.5% Last Week
• Sales Of New Homes Forecast To Rise 2%
• Real Estate In Your Retirement Portfolio
• In Real Estate, Nesting Is The New Flipping
• Tips For Better Gas Mileage
• Recipe of the Month

Congratulations To National Guaranty Mortgage For Being Nominated
for GAMB’s 2009 “Broker of the Year”!
 

Mortgage Applications Rose 8.5% Last Week
Market Watch

Applications filed for mortgages rose a seasonally adjusted 8.5% last week, compared with the week before, even as rates on fixed-rate mortgages increased, the Mortgage Bankers Association reported Wednesday.

Applications for loans to refinance an existing mortgage were up an unadjusted 11.1% for the week ended Dec. 4, compared with the week before, according to the MBA's weekly survey. Applications for home purchases were up a seasonally adjusted 4%.

The MBA survey covers about half of all U.S. retail residential mortgage applications.

The four-week moving average for all mortgages was up 1.5%.

Refinance applications made up a 74.4% share of all applications last week, up from 72.1% the previous week. Adjustable-rate mortgages made up a 4.7% share of all applications, down from 4.8%.

Click To Read The Full Article
 

Sales of New Homes Forecast to Rise 2%
CNBC

Sales of new homes are expected to post a modest increase in October, reinforcing data this week that showed the real estate market is regaining its footing after a dramatic collapse.

The Commerce Department's report on October new home sales, to be released Wednesday at 10 am New York time, is forecast to show a 2 percent increase to a seasonally adjusted annual rate of 410,000, from 402,000 in September, according to economists polled by Thomson Reuters.

Since the report reflects signed contracts to buy homes, rather than completed sales, new home buyers in October were acting before lawmakers this month decided to extend the tax credit for first-time buyers and expand it for existing homeowners.

Now that the credit will cover contracts signed by April 30, "we'll probably see new home sales trend higher over the next two to three months, perhaps fairly strongly," said Paul Dales, U.S. economist at Capital Economics.

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Real Estate In Your Retirement Portfolio
CNN Money

Question: How do REITs work? And is it prudent to have them in a diversified retirement portfolio? --M. C., Indianapolis, Indiana

Answer: After going from rock stars of the investing world during the real estate boom to candidates for a VH1"Where Are They Now" episode the last two years, REITs are generating some interest again.

Gee. Could it have anything to do with the fact that, after slumping badly in 2007 (-17.8%) and 2008 (-37.3%), REITs have been on a bit of a roll again with a year-to-date return of more than 25% through mid-December?

Well, whatever has spurred your interest, the answer to your first question is that REITs, or real estate investment trusts, are essentially companies that own and operate income-producing properties that could range from office buildings to hotels to malls to apartment buildings or a combination of these or other facilities.

Since you can buy many REITs just like stocks, investing in them allows you to gain exposure to the real estate market without the hassle of having to buy, manage and sell actual bricks and mortar. And because for tax reasons REITs must distribute 90% or more of their taxable income to shareholders annually as dividends, many investors looking for steady income from their investments also gravitate toward REITs.

Click To Read The Full Article
 

In Real Estate, Nesting Is The New Flipping
CNN Money

If flippers were the poster children of the real estate boom, then nesters are becoming the icons of the new housing market.

"We saw a nesting reaction after 9/11, but we're seeing a stronger nesting reaction now," said Bob Peterson, president of ABD Design/Build in Ft. Collins Colo. People who have the money are fixing up what they have."

A proportionally bigger share of the home construction dollar -- 20% more during the first three quarters of 2009 compared with the same period last year -- now goes to home improvements, according to the U.S. Census Bureau. In October, remodeling spending increased 8.7% compared with September to an annualized rate of $114 billion.

Jeff Hunt, vice president of Houston-based Brothers Strong remodelers, said that after a long slow period starting early last fall, his business took off. "About Aug. 1, all the stuff in our pipeline broke loose all at once, and since then we've been so busy we can't see straight."

Most of his projects are for nesters planning to stay. "Many people consider buying to get more space but when they look at all the costs they figure it makes sense to stay put," said Hunt. "They say, "I like my house, my neighbors, the schools.' Of course they do. That's why they bought the house in the first place."

Click To Read The Full Article
 

Tips for Better Gas Mileage
DailyEcoTips.com

Better gas mileage is something that many people are worried about. This is true for both the Eco-friendly driver or the average driver. There are many simple things that you can do to make your gas mileage better. I am going to share some of the better ones that I have heard, as well as how much they can improve your gas mileage.

• Drive Sensibly- This can save you $0.13-$0.88 per gallon. Try and drive with a less aggressive driving attitude. Driving aggressively will only waste gas.
• Observe the Speed Limit- Saving you $0.19-$0.61 per gallon. Gas Mileage decreases rapidly after 60 mph.
• Removing Excess Weight- Saving you $0.03-$0.05 per gallon. While this doesn’t save you a lot, having to carry around unnecessary weight will decrease your gas mileage by up to 2% per 100 pounds.
• Avoid Excess Idling- Idling just uses gas without the benefit of going anywhere. Use your cruise control and overdrive gears whenever possible.
• Keep Engine Tuned- Saving you around $0.11 per gallon. An engine that is out of tune can affect your mileage by up to 4% and serious problems can cost you in mileage up to 40%.
• Keep Your Tires Properly Inflated- Saving you around $0.08 per gallon. Even a lower PSI of 1 will affect your gas mileage.
• Use the Recommended Motor Oil- Saving you $0.03-$0.05 per gallon. Using the right oil can improve your mileage by 1-2%.

All of these are small amounts of saving but when you add them up, they can equal to a gallon of gas.
 

Recipe Of The Month

Non-Alcoholic Spiced Punch

Ingredients
4 cups (1 L) Cranberry juice
Teaspoon of Honey
Nutmeg to taste
Cinnamon stick
4 Cloves

Directions
In a pan, heat cranberry juice, cloves and honey, stirring until honey has dissolved and juice is warm. Season with nutmeg and serve in a cup with a cinnamon stick.

* For A Holiday Kick, add Myers Dark Rum!

Serves 8

Drink Type
Punch or Party Drink