April 03, 2010 at 01:21 PM · Posted under Glenn Hanon
New rules on lead based paint removal take effect this coming April. If you are a homeowner and your home was built prior to 1978 then remodeling your home replacing windows, scraping old windows etc will need the services of an expert. The Federal Government has enacted tougher more stringent lead based paint rules that now affect us all. The regulation will affect millions of single family homes across the United States. The EPA banned lead in paint in 1978 and it is estimated that more than 38 million homes have some type of lead paint on or in their home. In the past you could strip the paint yourself, but now with the new guidelines you will need to have a professional EPA accredited firms to remove lead paint. The new rule takes effect on April 22 of this year. When you sell your home you are required to fill out a Real Estate Condition Report (RECR). Currently the RECR does not have any questions on it that ask if you removed the lead paint from your home. It asks if you are aware of any lead paint on your property. All Real Estate transactions require that a Lead Paint Addendum be attached if the home was constructed prior to 1978. I would imagine that the RECR will be changed shortly to ask the seller of an older home if they have done any lead removal on the property. As with all new rules there were be lots of confusion. For more information on Lead Based Paint and the potential problems you can visit the EPA site for lead at http://www.epa.gov/lead/
February 02, 2010 at 12:01 PM · Posted under Glenn Hanon
Well it might not be there in time for many home owners who find themselves “underwater” in their mortgage. As a heads up the new HAMP program or Home Affordability Modification Program, that Washington put in place, has a few changes that were recently implemented. The goal is to streamline the process. Click Here for more information on the HAMP changes.
In other news, a report recently released indicates that FHA is in good shape. Some people critical of the FHA were concerned that they are taking a bigger risk in the mortgage business with their dramatic increase in market share. This story makes the point that their share has risen from a 3% market share to a 30% market share almost overnight. A personal note: FHA has played a role in the real estate recovery; however the low down payments are very concerning. Yes FHA requires a higher credit score, however even with good credit if one of the two persons who are buying the housing loses a job (a possibility in this economy) or their income is adjusted slightly, does FHA think those borrowers wont default? These are difficult times for everyone. The sooner we move towards responsible lending and borrowing the better our recovery will be. If the borrowers continue to live on the edge we could face another round of difficulties.
Yesterday, I posted an article about the remaining days available to receive the home buyer and seller tax credits. this link also outlines how mortgage interest rates will affect the housing market, after the tax credits expire. The information comes from another blog that I follow, “Keeping Current Matters”, written by Steve Harney, a respected real estate analyst. The information is timely, and relevant for today’s real estate climate. Remember…as of today, there are 107 house shopping days left! Contact me or your Shorewest agent today, to see how we can assist you with your house shopping needs!
Straight from the News Hub desk is this quick video on the housing market. Now is the time to consider buying your home IF you can afford it. Real Estate has always been a very good long term investment. If you are contemplating buying a home now is the perfect time, interest rates are low and the supply is vast. Check the video out for yourself and decide if it is best for you.
April 16, 2009 at 04:06 PM · Posted under Glenn Hanon
Agree or disagree with the merits behind the Housing Stimulus offered to first time home buyers, we can all agree that it is motivating buyers to move forward. And every statistic shows that if the first time home buyer is out buying homes all other price ranges begin to see movement. Sara and Andrew took advantage of the $8,000 incentive and just bought their first home in Oconomowoc. The $8,000 definitely made a difference when it came time to think about buying their dream home. “Without the incentive, I think we would not be able to move forward with our new home, which we love and can’t wait to move into this May!” says Sara. With the help of their lender and REALTOR®, Glenn Hanon, Sara and Andrew grew more excited that apartment living would be a thing of the past. The credit will help with the down payment and perhaps a small improvement to their home. “2009 is the year to buy”, explained Andrew, “We were able to buy the house we wanted.” If you are contemplating a move from a rental and you think you may qualify for the $8,000 credit, feel free to call me at the office, 262-567-4349 and we can meet to discuss your dreams.
Glenn Hanon
In other news, a 
Karen Trepton
the first time home buyer is out buying homes all other price ranges begin to see movement. Sara and Andrew took advantage of the $8,000 incentive and just bought their first home in Oconomowoc. The $8,000 definitely made a difference when it came time to think about buying their dream home. “Without the incentive, I think we would not be able to move forward with our new home, which we love and can’t wait to move into this May!” says Sara. With the help of their lender and REALTOR®, Glenn Hanon, Sara and Andrew grew more excited that apartment living would be a thing of the past. The credit will help with the down payment and perhaps a small improvement to their home. “2009 is the year to buy”, explained Andrew, “We were able to buy the house we wanted.” If you are contemplating a move from a rental and you think you may qualify for the $8,000 credit, feel free to call me at the office, 262-567-4349 and we can meet to discuss your dreams.
