Get Your FHA Mortgage Application Started -- Fees Increase 1/2 Percent Starting Monday, April 5, 2010

Starting Monday, April 5, 2010, getting an FHA mortgage will be more expensive for borrowers.

In new guidelines set forth earlier this year, the FHA announced plans to raise additional revenue and reduce the overall risk of its mortgage portfolio. 

The changes include the following:

1. Increase Upfront Mortgage Insurance Premiums from 1.75% to 2.25% for everyone
2. A plan to reduce seller concessions from 6 percent to 3 percent
3. An increase in minimum downpayment for FICOs 580 or lower

For your own loan, to avoid being subject to higher loan costs, make sure to have your FHA Case Number assigned prior to Monday, April 5, 2010.  That means you'll want to give a full mortgage application before the weekend so your lender can register your loan in time for the deadline.

But don't leave your application to the last minute.

Friday is Good Friday so most banks will be closed. Your true FHA deadline, therefore, is Thursday April 1.

Also worth noting is that the FHA isn't done with its changes.

In its policy statement, the group also announced its plans to petition Congress to raise monthly mortgage insurance premiums.  The FHA's formal request, in summary:

1. Raise monthly premiums by roughly 0.30%, or $25 per $100,000 borrowed per month
2. Lower upfront mortgage insurance premiums by 1.25%, or $1,250 per $100,000 borrowed at closing

For now, the request is neither approved nor acknowledged by Congress. It's merely a request. And in the event that Congress does approves it, the FHA reserves the right to change its projections.  Either way, it means higher costs for consumers. 

The best plan, therefore, is to get your FHA mortgage into underwriting ahead of the switches because borrowing money will be harder, and more costly.

With the ever changing real estate market and lending conditions make sure you align yourself with a team that's in the know! Call The Real Estate Geeks 714-720-2555

 

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The Baker's Edge Nonstick Brownie Edge Pan Makes Perfect, Double-Edged Brownies

For fans of "edge" pieces, this brownie pan from Baker's Edge is a cookware best-seller and for good reason. It's built strong and bakes double-edged, extra chewy brownies to perfection inside and out.

Made from heavy-gauge cast aluminum, the Brownie Edge Pan is a continuous baking chamber that channels heat to all pan parts equally.  The result is a more evenly-cooked, better tasting batch of brownies. And with a 9 by 12 by 2 inches capacity, the pan is large enough to handle most homemade and box mixes.

Like cookware, you often get what you pay for with respect to baking products and, at $35 from Amazon.com, the Baker's Edge Nonstick Brownie Edge Pan may be worth every penny.

Buy one for yourself, or as a housewarming gift for a friend. It's perfect brownies every time.

The Real Estate Geeks 714-720-2555 for all of your household needs

 

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The Home Price Index Shows Home Values Lower Broadly, But Not Specifically "The Real Estate Geeks"

Home values fell again in January, according to the Federal Home Finance Agency's Home Price Index. Values were reported down 0.6 percent, on average.

We say "on average" because the Home Price Index is a national report. It doesn't capture the essence of a local market , or even a city market.

The most granular that the monthly Home Price Index gets is regional and January's report shows that:

• Values in the Mountain states rose 2.0%
• Values in the Pacific states were flat
• Values in the East North Central states fell 1.8%

It's hardly helpful for home buyers entering the market, or home sellers trying to properly price a home.  Furthermore, because the Home Price Index reports on a 2-month delay, its data fails to reflect the current market conditions.

Versus January -- the period from which HPI data is collected -- mortgage rates are lower, buyer activity is up, and the federal home buyer tax credit is closer to expiring.  These each can have an impact on housing.

Ultimately, national real estate data like the Home Price Index is best suited for lenders and policy-makers.  National data helps to identify trends that shape formal policy, but it doesn't help you, specifically. 

Since peaking in April 2007, the Home Price Index is off 13.2 percent.

If you're seriously considering about buying, selling or investing give us a call. We can set up a complete plan to fit your needs. The Real Estate Geeks 714-272-5369

If you're having troubles keeping up with your mortgage payments please know you're not alone and you have options. To learn more about these options give us a call at 714-272-5369 or you can email us at Help@TheRealEstateGeeks.Net

Governor, lawmakers agree to early budget package ****BIG NEWS FOR HOME BUYERS***

The measures include tax breaks for new home buyers and green-technology companies, and diversion of $1.1 billion in transit funds to pay down the estimated $20-billion deficit.

By Shane Goldmacher

Los Angeles TimesReporting from Sacramento - After weeks of bickering over how to cut the deficit-ridden budget, Gov. Arnold Schwarzenegger and lawmakers agreed Monday to trim $1.1 billion from mass transit but give new tax breaks to home buyers and green-technology companies.

The governor, who signed part of the package into law Monday evening, said the tax incentives -- which could add to the budget woes -- are crucial to the state's economic recovery.

"The package of bills as written will provide significant benefit to the state's general fund and will help put Californians back to work," he said in a statement. He expects to sign the rest of the package later in the week.

The linchpin of the legislation is the tax credit of up to $10,000 for first-time home buyers and those purchasing newly built homes. It would take effect May 1.

Another element of the package would allow companies that buy green-technology manufacturing equipment to avoid sales tax on those purchases for 10 years. It would start immediately.

The agreement came after Schwarzenegger announced last week that he would not approve the transit-reduction package that the ruling Democrats pushed through the Legislature. The governor pressed for deeper cuts and cited lawmakers' failure "to take meaningful steps to stimulate job creation."

With the tax breaks in place, the governor changed direction, approving the plan to divert $1.1 billion from mass transit to pay down the deficit, which is estimated at $20 billion.

To get at the money, lawmakers and the governor are rewriting gasoline-tax laws, swapping a levy that state law designates for mass transit with a tax that can be directed to closing the deficit.

The plan preserved more than $400 million in the budget for bus and rail systems, at the insistence of Democrats. Schwarzenegger had initially pushed to eliminate state funding for mass transit entirely.

Many local transit agencies are supporting the compromise.

"This is probably just about the best we can do right now," said Jane Reifer, who chairs Transit Advocates of Orange County.

Monday's deal marks the first dent Sacramento has made in California's deficit. Schwarzenegger vetoed earlier legislation that Democrats said would have cut more than $2 billion more from the budget. The governor said the plan relied on unrealistic assumptions and ultimately would not save the state as much as the Democrats claimed.

Senate President Pro Tem Darrell Steinberg (D-Sacramento) has called the early-year budget actions a "down payment" on the deficit. Lawmakers have largely avoided the politically sticky task of slicing away at education, health and human services so far this year, hoping an improved economy and help from Washington will shrink the deficit to a more manageable size.

The tax break for home buyers won't help with that task. Lawmakers are setting aside $200 million to pay for it. Buyers can receive 5% of a home purchase price back as a state tax credit, up to $10,000, as long they reside there for two years.

A similar program that passed last year was wildly popular. Buyers snatched up all $100 million in available credits within months.

The green-technology credit approved Monday passed unanimously in both houses -- a rare feat in the fractious Capitol -- and lawmakers hailed it as an important investment in California's burgeoning green industry.

"It will create jobs," said Assemblyman Bob Blumenfield (D-Woodland Hills).

There is no cap on the green credits, which worries some activists.

"They absolutely should have a cap on there," said Lenny Goldberg, executive director of the California Tax Reform Assn. "You don't know how it's going to be used and misused."

**** This is big news... Up to $10,000 for First Time Home Buyers, Hello

How will the money last? Who knows so don't wait! To get started call The Real Estate Geeks Today 714-720-2555

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Federal Bureau of Investigation- Jury Duty Scam http://ping.fm/IUlu1

For Clues About The Future Of Mortgage Rates, Watch For Inflation

Homes are more affordable across the nation as the housing market emerges from a slow winter season with mortgage rates still near 5 percent.

Soft housing and low rates are an excellent combination for home buyers but whereas home values rise with a gradual pace, mortgage rates change in an instant.  It's something worth watching.

Each 0.25% increase to conventional or FHA rates adds approximately $16 per month for each $100,000 borrowed. Mortgage rate volatility can change your household budget.

If you're trying to gauge whether rates will be rising or falling, one keyword for which to listen is "inflation". Mortgage rates are highly responsive to inflation.

By definition, inflation is when a currency loses its value; when what used to cost $2.00 now costs $2.15. As consumers, we perceive inflation as goods becoming more expensive.  However, it's not that goods are more expensive, per se. It's that the dollars used to buy them are worth less.

This is a big deal to mortgage rates because mortgage bonds are denominated, bought, and sold in U.S. dollars.  As the dollar loses value to inflation, therefore, so does the value of every mortgage bond in existence. When bonds lose their value, investors don't want them and bond prices fall.  Mortgage rates move opposite of bond prices. 

Prices down, rates up.

In today's market, the relationship between inflation and mortgage rates is helping home buyers. The Cost of Living made its smallest annual gain in 6 years last month and the Fed has repeatedly said that inflation will stay low for some time. The combination is driving investors to buy mortgage bonds which, in turn, is suppresses rates.

So long as it lasts, the cost of homeownership will remain relatively low. Combined with the expiring tax credit, the timing to buy a home may be as good as it gets.

For more information about buying, selling, investing, or lending needs call The Real Estate Geeks 714-272-5369 or 714-720-2555

 

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Single-Family Housing Starts Hold Steady For The 8th Straight Month

Single-family Housing Starts idled last month, dropping just 3,000 units from the month prior, or 0.2%.

According to the Commerce Department's report, February marked the 8th straight month in which Housing Starts straddled the half-million marker, dating back to June 2009.

This is a different slant on the Housing Starts story as told by the press.

Most publications are reporting that Housing Starts fell 5.9 percent in February. Technically, this is true.  Housing Starts did fall 5.9 percent last month.  However, the Housing Starts data is comprised of three parts:

1. Single-Family Housing Starts
2. 2-4 Unit Housing Starts
3. "Apartment Building" Housing Starts (i.e. 5 or more units)

The press tends to lump all 3 together but that's not relevant for everyday homeowners and buyers. 

2-4 unit homes, and apartments and condos are a different housing class as compared to single-family homes and are notoriously volatile, too.  Single-family starts are more steady and better reflect the country's housing stock.

Single-family housing starts are up 32 percent over the last 12 months. 

Meanwhile, the pace of new buyers has not kept up with the pace of new housing stock. Therefore, because home prices are based on supply-and-demand, the price for a newly-built home was down, on average, 7 percent nationwide in January.

With the federal home buyer tax credit expiring soon, home buyers will likely create new demand for homes. And with Housing Starts holding steady near 500,000, that should push prices higher through the spring months.

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A Simple Explanation Of The Federal Reserve Statement (March 16, 2010 Edition)

Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged, in its target range of 0.000-0.250 percent.

In its press release, the FOMC noted that the U.S. economy "has continued to strengthen" and that the jobs markets "is stabilizing".  It also said that business spending has "has risen significantly".

This is a slight departure from the Fed's January statement in which housing was not mentioned and business spending was said to be "picking up".

It's also the sixth straight statement from the FOMC in which the Fed described the economy with optimism.  This is a signal to markets that 2008-2009 recession is over and that economic growth is returning.

The economy is not without threats, however, and the Fed identified several:

1. High unemployment threatens consumer spending
2. Housing starts are at a "depressed level"
3. Consumer credit remains tight

The message’s overall tone, however, remained positive and inflation is within tolerance limits

Also in its statement, the Fed confirmed its plan to hold the Fed Funds Rate near zero percent “for an extended period” and to end its $1.25 trillion commitment to the mortgage market by March 31, 2010. Fed insiders estimate that the bond-buying program lowered mortgage rates by 1 percent since its start.

Mortgage market reaction to the Fed press release is, in general, ambivalent. Mortgage rates are unchanged this afternoon.

The FOMC’s next scheduled meeting is a 2-day affair, April 27-28, 2010.

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A Rate-Locking Strategy For Today's Fed Meeting

The Federal Open Market Committee adjourns from a scheduled 1-day meeting today, its second of the year. 

The FOMC has held the Fed Funds Rate in a target range of 0.000-0.250 percent since December 16, 2008, and the voting members of the Fed are expected to vote "no change" again today.

However, no change in the Fed Funds Rate doesn't necessarily mean no change in mortgage rates.  This is because the Fed Funds Rate is a different interest rate from the rates home buyers get from a loan officer. 

• Fed Funds Rate : Short-term rate at which banks borrow from each other
• Mortgage Rate : Long-term rate of interest a homeowner pays on a mortgage

Mortgage rates are more responsive to what the Fed says as compared to what the Fed does. 

After each FOMC meeting, Fed Chairman Ben Bernanke & Co issue a formal press release to the markets.  At roughly 400 words, the statement is a brief commentary on the strengths, weaknesses, and threats for the U.S. economy.

Wall Street watches the statement with great interest and this is why mortgage rates are often volatile on the days of an FOMC adjournment. One mention of a word like "inflation" and traders rush to dump their mortgage bond positions.

Inflation is the enemy of mortgage rates.

After the Fed’s last meeting in January, it told us that the economy had "weakened further", led by steep declines both in housing and employment. Global demand was off, too.  The negative tone of the Fed's statement caused mortgage rates to fall to near an all-time low.

This month, expect a less gloomy message.

Since January, there's been a modest rebound in housing, employment appears more stable, and Retail Sales just posted huge gains.  If the Fed alludes to improvement in any or all three, mortgage rates will likely reverse and zoom higher.

We can’t know what the Fed today will say so if you're floating a mortgage rate and wondering whether to lock, the safe approach would be to do it today, prior to 2:15 PM ET.

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15-Minute Fixes For Around The Home

Home maintenance is an ongoing project. There's always something to do around the house, or something to fix. The problem is, you may not have the time, or the skills, to get it done yourself.

In this 4-minute piece from The Today Show on NBC, you'll see some projects are quite simple.

Dubbed "15-Minute Fixes", see how simple it can be to handle 3 common household chores:

1. De-alcification of a shower head
2. Clearing hair from the inside of a bathroom drain
3. Sealing a granite counter-top

Each clean-up job is cheap, quick, and can be handled sans handyman. As Spring Fever sets in, put these fixes on your To-Do List.

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How To Refinance When Your Home Is Underwater

The Federal Housing Finance Agency has extended the government's Home Affordable Refinance Program by 12 months.

HARP's new end date is June 30, 2011.

Originally known as Making Home Affordable, HARP aims to help California homeowners refinance their mortgage who may otherwise be ineligible because of falling home values.

There are 4 basic HARP criteria every borrower must meet:

1. The existing home loan must be guaranteed by Fannie Mae or Freddie Mac.
2. Your home must be a 1- to 4-unit property
3. You must have a perfect mortgage payment history going back 12 months. No 30-day lates allowed.
4. Your first mortgage balance must be 125% or less of your home's market value

If you're not sure whether Fannie Mae or Freddie Mac back your mortgage, you can look it up. Fannie's website is http://www.fanniemae.com/loanlookup; Freddie's is http://freddiemac.com/mymortgage.  If you don't locate your loan on either website, your mortgage is backed by a third-party and is not HARP-eligible.

For homeowners that meet HARP's criteria, there are some underwriting details of which to be aware.

First, if your original mortgage does not require mortgage insurance, your HARP mortgage will not require it, either -- regardless of your new loan-to-value.

Second, all HARP refinances require income verification. It doesn't matter if your original mortgage was a stated income or no income verification loan. You should expect to produce 1040s and W-2s for your HARP refinance and asset statements, too.

And, lastly, second (and third) mortgages may not be "rolled in" to a new first mortgage loan balance. Junior lien holders must agree to remain in a junior lien position, regardless of combined loan-to-value.

There is a thorough HARP FAQ section on the government's website, but it's for general questions only. For specific Home Affordable Refinance Program information, first make sure you're program-eligible, then pick up the phone to call your loan officer. 

HARP is complex enough that you'll want to talk with a human before taking a proper next step.

 

For more information regarding keeping your home and other options contact The Real Estate Geeks 714-720-2555 or email us at Help@TheRealEstateGeeks.Net

 

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Foreclosures Per Capita | February 2010

According to foreclosure-tracking firm RealtyTrac, foreclosure filings topped 300,000 for the 12th straight month last month as 1 in every 418 U.S. homes received a foreclosure filing.

It's a small improvement from January and a just 6 percent increase over February 2009.

On a per-capita basis, foreclosure density varied by state:

• Nevada : 1 foreclosure filing per 102 homes
• Florida : 1 foreclosure filing per 163 homes
• Arizona : 1 foreclosure filing per 163 homes
• California : 1 foreclosure filing per 195 homes

Also, as in January 2010, foreclosures across the country were concentrated. 10 states beat the national Foreclosure Per Capita average; 40 states fell below. Like everything else is real estate, it seems, foreclosures are local.

For today's home buyers, foreclosures represent an interesting opportunity. 

Homes bought in various stages of foreclosure are often less expensive than other, non-foreclosure homes. It's one reason why distressed home sales account for 38 percent of all resales. However, less expensive doesn't always mean less costly.  A foreclosed home may be in various stages of disrepair and they're often sold as-is, as policy.

Buying new or used can be cheaper than buying broken-down.

Therefore, if you're in the market for a bank-owned home, make sure you know what you're buying before you sign a contract. Have qualified professionals review and inspect the property, as needed. Damage to pipes or the property's structure, for example, may not be so obvious on a walk-though and you'll want to know about it before you buy.

Also, foreclosed homes are federal tax credit-eligible. Buyers must be under contract by April 30, 2010 and closed by June 30, 2010.

 

If you're having trouble making your mortgage payment you have options, but whatever you do don't let foreclosure be one of them. For more information about your options contact The Real Estate Geeks at 714-720-2555 or email us at Help@TheRealEstateGeeks.Net

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Don't Rush To Refinance That ARM -- It May Be Adjusting To 3 Percent Or Lower

If your mortgage is set to adjust this year, the smart move may be to let it. Today's conforming mortgages are adjusting lower than ever before -- as low as 3 percent.  It may not be what you expected when you signed for your ARM several years ago.

The reason why ARMs are adjusting lower is because of how they're made.

When conforming adjustable-rate mortgages adjust, they adjust according to a pre-determined formula. The formula is the sum of a constant and a variable.  The constant is usually 2.25 percent and the variable is a daily-changing interest rate called LIBOR.

The formula looks like this:

New Mortgage Rate = LIBOR + 2.250 percent

LIBOR is an acronym for London Interbank Offered Rate.  It's an interest rate at which banks borrow money from each other. In Fall 2008, when Lehman Brothers fell and sparked a global banking fear, LIBOR spiked as the risk of inter-bank borrowing jumped. 

Since then, however, LIBOR is down.

Normalcy is returning to banking and the timing couldn't be better for homeowners with ARMs. 15 months ago, a homeowner's ARM may have adjusted to 6 1/2 percent.  Today, that same ARM falls to just above 3.

As a strategy play, it might make sense to let your ARM adjust. Or, because fixed rates are still near 5 percent, converting that ARM to a long-term fixed-rate product might make sense, too.  The decision is a balance between how low do you want your payment, and how long might you live in your home.  

The longer you stay, the more it might make sense to switch to fixed-rate, even though ARM rates are so low.

If you've got an adjusting ARM, talk to your loan officer about your choices. Once March ends and the Fed withdraws its mortgage market support, mortgage rates may rise and the fixed-rate option may be gone.

 

For more information about loan options contact The Real Estate Geeks today because knowing what all of your options are will allow you to know what's in your best interest. Loans@TheRealEstateGeeks.Net

 

If you having a financial hardship we can help you too... Just give us a call 714-272-5369 or email us at Help@TheRealEstateGeeks.Net

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A Man Bulldozes His Home... Is this the solution?

Yes, this homeowner is upset, but is this the solution? In my professional opinion, the answer is NO. You see what he forgot to take into account when he tore his home down is that when the bank does indeed foreclose on the property there is going to be a deficiency balance owed on the loan. For example he owes $350,000 on this home and now that he has torn it down it might be worth only $100,000 (depending on the land value) which will leave the bank short about $250,000 plus any fee's... Now at anytime the bank can go back and try to collect on that amount due to the rules for a recourse loan. Purchase money loans are not usually a recourse loan, but refi money & construction loans are. If you're facing a foreclosure don't just let the bank foreclose... Give us a call so you know what all of your options are so you make the right choice for you and your family... Don't just bulldoze your home, so to speak Melissa 714-720-2555 or Chip Esajian 714-272-5369

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7 Weeks Remain To Find A Home, Claim Up To $8,000 In Tax Credits

In November, Congress extended and expanded the First-Time Home Buyer Tax Credit program to include a subset of "move-up" buyers -- homeowners that have owned and lived in their home for 5 of the last 8 years.

The credit ranges up to $8,000 per buyer. There's now just 7 weeks left to take advantage.

To be eligible, home buyers must be under contract for a new home no later than April 30, 2010, and must be closed no later than June 30, 2010.

In addition to meeting the deadline dates, there's a basic set of requirements to be tax credit-eligible:

• You can't purchase the home from a parent, spouse, or child
• You can't purchase the home from an entity in which the seller is a majority owner
• You can't acquire the home by gift or inheritance
• Each buyer in the purchase must meet eligibility requirements

There's other criteria, too.

For one, the sales price on the subject property cannot exceed $800,000. Homes sold for more than $800,000 are ineligible for the tax credit. Furthermore, households earning more than $125,000 as single-filers, or $225,500 for joint-filers, are ineligible.

You can read the complete eligibility requirements at the IRS website, or, you may just find it simpler to speak with your accountant about it. There are some nuances in qualifying for and claiming the tax credit on your returns and getting a professional's opinion is always wise.

And lastly, don't forget that government's tax credit program is a true tax credit. It's not a tax deduction.  This means that a tax filer whose "normal" tax liability is $3,500 and who is eligible for $8,000 in credit will receive a $4,500 refund from the U.S. Treasury.

If you're currently in the House Hunt, mark your calendar for April 30, 2010. It's 7 weeks away and you can be sure that as the date gets closer, buyer traffic is going to increase.  You may find sellers more willing to negotiate today than several weeks from now.

For more information contact The Real Estate Geeks Today: 714-272-5369 or email us at Info@TheRealEstateGeeks.Net

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Geek Gifts : The 16-Piece iPhone Coaster Set

You could call it the Ultimate Geek Gift for an iPhone-toting friend -- or even for yourself. It's a set of 16 coasters made to look like iPhone application icons.

Made by Brazilian firm Meninos, the coasters are constructed from sturdy, medium-density fiber plywood and are coated in vinyl.  They're are roughly 3 1/2 inches square, washable, and feature non-skid, rubber bottoms.

Many of the most popular iPhone icons are included:

• Maps and Compass
• Camera and Photo Albums
• YouTube and iPod

The iPhone coasters sell for $59.99 plus shipping. Arrange them like your phone, or pin them on the wall.  Either way, they'll be a functional conversation piece for your home, or the home of a friend.

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Pending Home Sales Drag In January, But Should Rebound For Spring

Fewer homes went under contract in January as the housing market continues to limp through the winter months.

According to the National Association of Realtors®, the Pending Home Sales Index fell to its lowest level in 3 quarters this January. By contrast, in October 2009, the index had touched a 3-year high.

The Pending Home Sales Index measures the number of homes that have gone under contract to sell, but have yet to close nationwide. It's compiled using data from more than 100 regional listing services and 60-plus brokerages  -- the sample set encompasses 20 percent of all home resales in a given month.

Economists have come to rely on the Pending Home Sales Index because of its high correlation to actual home sales. 80% of all home marked "pending" close within 60 days. Many of the rest close within 120.

Therefore, when we see Pending Home Sales show weakness like it did in January, we can infer that home resales will remain weak through the spring.

But will they really?

1. Fewer sales should drag down home prices, bringing more buyers into the market
2. Mortgage rates are still very low, but are poised to rise in just a few weeks
3. The home buyer tax credit requires buyers to be in contract by April 30, 2010

In other words, there's a confluence of factors that could lead to a rush of sales around the country over the next two months, reversing the housing market's recent momentum.

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Pack Your Bags!!!

If you're thinking about selling? Have You tried to sell your home? Check this video out first

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Tying Friday's Jobs Report To Rising Mortgage Rates

Conforming and FHA mortgage rates in California have improved over the last 10 days, but that could all change this Friday with the release of February's Non-Farm Payrolls report.

Non-Farm Payrolls is the official name of the government's monthly jobs report and, given the fragile state of the U.S. economy, Wall Street will be watching it closely.

Mortgage rates could spike come Friday morning.

Jobs are an important part of the nation's recovery. Among other concerns, unemployed Americans don't spend as much money on goods and services, and are more likely to default on a mortgage. This retards economic growth and increases the potential for foreclosures.

When jobs numbers worsen, therefore, it follows that economic projections worsen, too.

Poor employment figures draw money away from the stock markets and into less-risky bond markets, including mortgage-backed bonds.  Mortgage rates improve as a result. Conversely, when jobs numbers improve, stock markets gain and bond markets worsen.

Analysts expect that a net 30,000 jobs were lost in February.

The Bureau of Labor Statistics press release hits at 8:30 A.M. ET, roughly an hour before Friday's mortgage pricing will be available to consumers. If you're worried about rates rising on the heels of a strong jobs report, therefore, be sure to get your rate lock in today instead. Once Friday gets here, it may be too late.

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How To Properly Screen A Prospective Tenant

According to the the National Association of Realtors®, "distressed homes" represented nearly 2 of every fifth home sold in January 2010.  Clearly, real estate investors are taking advantage of good deals on cheap property.  But there's risk involved.

This NBC Today Show interview first ran in March 2009, featuring real estate expert Barbara Corcoran. Despite its age, the message remains relevant. Today may be a terrific time to buy a bank-owned home -- just make sure you do your research first.  There's plenty of ways for investors to get burned.

Some of the tips in the video include:

• Buy in your own backyard
• Start small, then build to a bigger portfolio
• Watch receipts -- rent rolls don't matter if tenants aren't paying rent

Corcoran also gives pointers on how to evaluate a prospective tenant.

Foreclosures should represent a large number of 2010's total home sales and will offer interesting opportunities to bona fide real estate investors. Before you jump in, make sure to watch the video. The rents you save may be your own.

Remember, the stats and the data are from 12 months ago, but the advice stays meaningful.

For more information about investing give The Real Estate Geeks a call... We can set up a full plan for you to ensure your highest ROI. 714-720-2555 or email us at info@therealestategeeks.net

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Money - The $50.00 Bill to be exact & The Federal Reserve

Currently the United States $50.00 features US President Ulysses S. Grant. In 2005, a plan to put Ronald Reagan on the $50 bill never went beyond the House Financial Services Committee, even though Republicans controlled the House. In 2010, North Carolina Republican Patrick McHenry introduced another bill to put Reagan's picture on the $50 bill.

Approximately 5 hours ago someone is back at it again. Is it a hoax? Well, The Washington Post had posted an article about this which has now been taken off of their website... Interesting! About an hour ago Anderson Cooper on CNN mentioned it while I was listening to XM Radio in my car - so what's going on?

Who Knows! But it does make me think

Think about this... Do you think the federal government & the federal reserve have the time to makeover our currency? Do we not have more pressing issues that could really use our attention? 

Let me know what you think... I am sure this one will cause a stir 

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Are we saving enough money?

Visit msnbc.com for breaking news, world news, and news about the economy

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Cool Tools : Color This! Shows How Paints And Colors Will Make A Room Look Good

Visualizing a home in different colors can take a good eye and strong imagination -- especially when you're house-hunting and the home's effects are of someone else.

Yet, we wonder:

• What would the bedroom look like in blue?
• How would the kitchen look in yellow?
• What if the foyer wall was accented in red?

At the Better Homes and Gardens website, you can answer those questions and see the results for yourself.  Using the Color This! tool, website visitors can mix-and-match swatch colors, then apply them to a room's walls, floors, trim, cabinets and accessories.

Don't just get a mental picture of a room -- get an actual picture.

The Better Homes and Gardens site requires a basic, non-intrusive site registration to use the Color This! product suite.  It's also available for home exteriors and window treatments, too.

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