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“Can U Afford Me” is a quick and easy to use calculator for Realtors® and home buyers.  It calculates how much home you can afford by using your monthly gross income and your monthly debt.  
Within seconds you will know the Home U Can Afford! First you will enter your gross monthly income, secondly you will enter your current debt obligations & then it automatically calculates the maximum FHA or conventional house value you can afford.

Click Here Can U Afford Me?

“Can U Afford Me” is a quick and easy to use calculator for Realtors® and home buyers.  It calculates how much home you can afford by using your monthly gross income and your monthly debt. 

Within seconds you will know the Home U Can Afford! First you will enter your gross monthly income, secondly you will enter your current debt obligations & then it automatically calculates the maximum FHA or conventional house value you can afford.


Click Here
Can U Afford Me?

  • Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.
  • Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.
  • Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
  • Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business.
4 Demographic Trends That Will Affect Housing


Daily Real Estate News  | January 29, 2010  |4 Demographic Trends That Will Affect Housing


A new report from the Urban Land Institute predicts two major changes in the U.S. housing market as we began a new decade.

  • Home appreciation will slow considerably to about 1 percent to 2 percent annually.
  • The current U.S. homeownership rate, now at 67 percent (which is down from a record high of 69 percent), will fall further to about 62 percent.


4 Major Demographic Trends

The report also cites four major U.S. demographic trends that will have a major impact on housing.

1. Aging baby boomers (ages 55 to 64 years old): They will keep working, and many will be forced to stay in their suburban homes until values recover. Those who are able to move will choose mixed-age living environments that cater to active lifestyles. Walkable suburban town centers also will appeal to this group.

2. Younger baby boomers (46 to 54 years old): They are now entering their prime earning years but they will lack home equity and unlike the older members of their generation, they won’t be able to purchase second homes. This will likely curb the prospects for the second-home market. 

3. Generation Y: They are larger than the baby boom generation (with a population of about 86 million). As they enter the housing market, they are less interested in homeownership than their parents were when they were young adults. “They will be renters by necessity or choice for years ahead,” says John K. McIlwain, author of the report. 

4. Immigrants – both legal and illegal: They are nearly 40 million strong. They often prefer multi-generational households and if they can afford them, larger homes in neighborhoods with a strong sense of community.

Source: The Urban Land Institute (01/27/2010)

Fannie Mae Offers New Closing Cost Assistance and Appliance Incentive for Homebuyers

Fannie Mae is offering a 3.5% incentive for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on HomePath.com that are closed within this period may receive up to 3.5% of the final sales price for:

·         Closing costs;

·         The purchase of new Whirlpool® appliances by Fannie Mae; or

·         A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%.

To be eligible for this incentive:

·         Offers must be accepted on or after January 28, 2010;

·         Property sales must close before May 1, 2010, and;

·         Buyers must be owner-occupants (investors are excluded).

The incentive reinforces the organization’s commitment to stabilizing communities and assisting buyers. For more information about this incentive, visit www.HomePath.com, read the press release on fanniemae.com, or contact a Fannie Mae listing broker.

$6500 home-buyer tax credit for current homeowners

What happens on 11-2-2010 for Indiana?

The voters are the only thing standing between taxpayers and permanent property tax protection in the Constitution.  As required by law, the much lauded property tax caps have been passed by two separately elected General Assemblies after the Senate affirmatively voted 35-15 last week. The caps were originally passed in 2008. The question of putting the caps in the Constitution will now be up to voters on Nov. 2.

After receiving voter approval, it will be unconstitutional to levy property taxes greater than 1% of a homestead’s assessed value, 2% of farmland or rental property AV, or 3% of a business’ property without specific permission given by the voters via referendum.

FHA Date Is Set…

The FHA Upfront MIP changes go into effect for FHA Case numbers assigned on or after April 5th, 2010.  The FHA Upfront MIP will be 2.25%.

The insurance premium increase is  50 bps to 2.25% – from 1.75% – effective in April 5th. That means an additional $500 will be needed on a $100K loan.