Property Tax... Fargo vs. Moorhead

You can get more home for your money on one side of the river vs. the other.  Moorhead property taxes are significantly lower than Fargo property taxes.  Check out these examples...

Home Value             Fargo Yrly Tax Est          Mhd Yrly Tax Est
$150,000                                $2611                       $1926
$200,000                                $3481                       $2727
$250,000                                $4351                       $3527
$300,000                                $5221                       $4327



*amounts based on estimates using city estimated property tax calculators

Trend Watch: Home Design Gets Simpler

As home buyers continue to rank affordability high, more home styles are getting simpler and homes are becoming lower maintenance, according to the latest Home Design Trends Survey, conducted by the American Institute of Architects.

Simpler exterior details and the use of durable building products are growing in popularity, according to the third-quarter survey of architects, which mostly focused on community and neighborhood design.

Read More...http://styledstagedsold.blogs.realtor.org/2012/01/03/trend-watch-home-design-gets-simpler/

Cost of Homeowners Insurance May Soon Be on the Rise

Homeowners insurance premiums are starting to rise after tornadoes, hail, winds and lightning slammed U.S. insurance companies' balance sheets throughout 2011. Storms along the East Coast, tornadoes in the Southeast and in Joplin, Mo., and earthquakes in Japan and New Zealand wreaked havoc on insurance company finances, especially firms that might have too many policyholders in certain geographic areas, says Bob Skow, CEO of the Independent Insurance Agents of Iowa. The numbers aren't in yet, since renewals don't all happen at one time, but Robert Hartwig, president of the Insurance Information Institute, says customers are starting to feel the cost of years of heavy losses, particularly in the Southeast and Midwest. "We've had record losses for four straight years," he said. "My sense is that premiums will probably...

Read More...

http://www.usatoday.com/money/industries/insurance/story/2012-01-04/homeowners-insurance-rising/52367258/1

Fed to Publish a Forecast of Rate Moves, Guiding Investors

The Federal Reserve will begin later this month to publish the predictions of its senior officials about their own decisions, hoping to increase its influence over economic activity by guiding investor expectations. The change was approved at the most recent meeting of the Fed’s policy-making committee, in December, but was kept secret until Tuesday afternoon, when the Fed released an account of the meeting after a standard three-week delay. The inaugural forecast, set for Jan. 25, will show the range of predictions made by Fed officials about the level of short-term interest rates in the fourth quarter of 2012, 2013 and 2014, although it will not list individual predictions. It also will summarize when...

Read More...Fed to Publish a Forecast of Rate Moves, Guiding Investors

The Importance of Lighting and Putting Your Listings in the Best Light

"Before"

"After"

Don’t forget lighting updates when planning to sell. From front door lighting to bathroom fixtures and everything in between, updating lighting is an important item on a home owner’s checklist when planning to sell a home. Brushed or satin nickel finishes on lighting fixtures make a subtle impact when a prospect first sees MLS pictures and decides what homes to actually spend the time visiting.  Don’t be left off this list.

Read More...The Importance of Lighting and Putting Your Listings in the Best Light

FHA Extends Anti-Flipping Waiver to Speed Sales

The Federal Housing Administration is extending its “anti-flipping” waiver through the end of 2012, which allows buyers to purchase homes that have already been sold in the last 90 days.

The waiver, which was soon set to expire, is “intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment and blight,” Carol J. Galante, the acting Federal Housing Administration commissioner, said in a statement. “FHA remains a critical source of mortgage financing and stability and we must make every effort to promote recovery in every responsible way we can.”

An anti-flipping rule originally took effect in 2003 to stop a spike in home flipping that

Read More...FHA Extends Anti-Flipping Waiver to Speed Sales

Mortgage Rates End the Year Near Record Lows

Home buyer affordability continues to be pushed higher due to mortgage rates remaining at record lows, Freddie Mac reports in its weekly mortgage market survey.
"Mortgage rates ended the year hovering near historic lows in an already affordable housing market,” Frank Nothaft, Freddie Mac’s chief economist, said in a statement.  With affordability so high, Nothaft notes “it's not surprising then that over 5 percent of households in December plan to purchase a home over the next six months, the highest share since May,” according to The Conference Board.
For the ninth consecutive week, 30-year fixed-rate mortgages...

Read more...Mortgage Rates End the Year Near Record Lows

Happy Holidays!!

We hope you all enjoy a safe and joyous holiday season... 
From Shannon & Jim at Modern Market Realtors

House Flippers to Blame for Housing Downturn?

House flippers — made up of investors who bought up homes during the housing boom, possibly made a few upgrades to the home, and quickly resold the homes for high-dollar profit — played a larger role in causing the housing bubble than previously thought, according to a new federal report out by the Federal Reserve Bank of New York. The impact that speculative real estate investors played in driving the housing downturn has mostly been overlooked until now, the researchers note.
The speculative investors used low downpayments and subprime credit in buying up multiple homes at once, the report says. Their actions attributed to home prices in some areas being inflated, researchers say.
"This may have allowed the bubble to inflate further, which caused millions...
Read More...House Flippers to Blame for Housing Downturn?

Which Home Improvement Projects Offer the Best Returns?

When it comes to remodeling, exterior replacement projects have routinely rewarded home owners with more bang for their buck. This year is no different: REALTORS^® recently rated many exterior improvements as among the most valuable home investment projects as part of the 2011-12 Remodeling Cost vs. Value Report.
“This year’s Remodeling Cost vs. Value Report shows the value of putting your home’s best façade forward, so to speak,” said National Association of REALTORS^® President Moe Veissi. “Inexpensive exterior replacement projects are not only crucial to a home’s regular upkeep, but are...

Which Home Improvement Projects Offer the Best Returns?

Real Estate Dos and Don'ts: Pricing Your Home to Sell

Top 10 Tips for Selling Your Home During the Holidays

The holiday season from November through January is often considered the worst time to put a home on the market. While the thought of selling your home during the winter months may dampen your holiday spirit, the season does have its advantages: holiday buyers tend to be more serious, and competition is less fierce with fewer homes being actively marketed. First, decide if you really need to sell, really. Once you've committed to the challenge, don your gay apparel and follow these tips from FrontDoor.

Read More...Top 10 Tips for Selling Your Home During the Holidays

Low Mortgage Rates Keep Housing Affordability High

Mortgage rates continued to be near record lows this week, keeping housing at affordable levels for most households.
"Thirty-year fixed-rate loans have declined 0.62 percentage points from a year ago, and median sales prices on existing homes are off 4.7 percent in the year ending with October,” Frank Nothaft, Freddie Mac’s chief economist, said in a statement. “These low rates and home prices have pushed housing affordability to record highs this year.”

Monthly principal and mortgage interest payments accounted for 12.6 percent of a median family incomes in October, Nothaft notes. For the sixth time this year, the National Housing Affordability Index reached another all-time record high, according to the National Association of REALTORS®.

Here’s a closer look at mortgage rates for the week ending Dec. 8.

Read More...Low Mortgage Rates Keep Housing Affordability High

Fargo Moorhead Real Estate Fun Fact...

More Home... Less Money...

The principal and interest portion of the payment on a home bought a few yrs ago for $147,000 at 6.5% int, would be the same as a $200,000 home today at today's rate of 3.75% int!

Its amazing how much more home you can afford now with these low rates!

Most-Overlooked Tax Deductions

Every year, the IRS dutifully reports the most common blunders that taxpayers make on their returns. And every year, at or near the top of the “oops” list is forgetting to enter their Social Security number at the top of the tax form -- or making a mistake when entering those nine digits.

But think about it for a minute: Do you think that’s the most common mistake . . . or simply the easiest to notice?  One thing we know for sure is that the opportunity to make mistakes is almost unlimited, and missed deductions can be the most costly.

Read more...

Now's the Time to Buy

It’s always a great time to buy a fantastic
piece of real estate. Today that’s truer
than ever. The affordability of homes
is lower than it’s been in a generation,
and mortgages hit a historic low in 2010.

Read more...

Now's the Time to Buy

Check Out the MID Calc—NAR's iPhone/iPad App

NAR created the free MID Calc (available from the iTunes store) for home owners to estimate the tax-savings value of their mortgage interest deduction. Compatible with iPhone, iPod touch, and iPad.

The MID Calc from the National Association of REALTORS® allow homeowners to estimate the tax savings value of the Mortgage Interest Rate Deduction. Use the buying power calculator to see how your housing dollars are optimized by the tax savings.

Read More or Download the app from iTunes >

NAR Urges Reform of Mortgage Finance System

Reforming the secondary mortgage market is essential to ensuring a reliable source of mortgage lending for consumers in all types of markets and is integral to the nation’s economic and housing recovery, a representative of the National Association of REALTORS® said in testimony yesterday.
NAR’s 2012 Director of REALTOR® Party Activities Tom Salomone spoke before the House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises regarding proposed legislation by Rep. Scott Garrett (R-N.J.) to bring private capital back into the secondary mortgage market...

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NAR Urges Reform of Mortgage Finance System

Staging Your Home in Fargo Morhead

We've collected REALTOR.org's videos in one easy-to-use player. And we want to see yours! Help us build REALTOR® TV into a premier source for inspirational, informational and educational real estate video on the Web.

What Will Be Hot in Home Interiors in 2012?

Homes go gray: All shades of gray will be making up more households, from warm grey to charcoal gray, through furnishings, window treatments, and artwork.
Yellow pops: Yellow can lift practically any room, according to Beasley & Henley Interior Design. Pairing yellow with gray can bring a trendy look to a home in 2012.

Read More...

What Will Be Hot in Home Interiors in 2012?