New Home Remodeling Rules
San Diego housing
U.S. Environmental Protection Agency rules which took effect April 22 require remodeling work on homes built before 1978 to be undertaken only by contractors certified by the agency in lead-safe practices. (An EPA-certified contractor isn’t necessary if the work doesn’t disturb the paint, but that can be hard to know up front.)
The National Association of the Remodeling Industry recommends that home owners assume lead is present if their home was built before 1978 unless they’ve had it tested and found it lead free. Certified remodelers are required to display their EPA-certified training certificate to home owners.
Houston Texas lawyers
Perpetual Unemployment Benefits Doing More Harm Than Good
Next week legislation to extend expanded unemployment benefits for the long-term unemployed through the end of the year looks like it will be passed in Washington.
In nearly half of the states the jobless can collect unemployment checks for 79 weeks. The new federal government extension would lengthen the time span up to 99 weeks. That’s almost two years of individuals collecting money for not working. If you’re fine with this because you feel sorry for those who don’t have jobs, then how about three years? Four years? Should there even be a limit?
Finally, some are saying that the seeming endless unemployment checks are actually a detriment to motivating people to get back to work … What do you think?
San Jose California real estate
Home Remodeling Downsized
San Diego home
Amid the recession, homeowners who hired contractors for home remodeling in recent months most often tackled small-scale jobs and replacements, according to Remodeling magazine’s 2009-10 Cost vs. Value report. The study compares national and regional remodeling costs for 33 popular remodeling projects.
Exterior replacement projects like doors and windows continue to recoup the most dollars at resale, which makes them attractive to homeowners looking to improve curb appeal. These projects are also among the least expensive to complete. Entry door replacements (steel), which recoup nearly 129 percent of their costs at resale, returned the most on investment. Other high-ranking cost-vs.-value projects were siding replacements, attic bedrooms and deck additions.
Projects that recouped the least were home-office remodels, sun rooms, upscale master suites, upscale garage additions and upscale bathroom additions.
Del Mar California real estate
Jobless claims rise – Unemployment Benefits Extended
San Diego California housing
Do you really think the San Diego housing market has hit bottom? How can home purchases increase in the face of our high (over 12% in California) unemployment?
The Labor Department reported this morning that first-time jobless claims rose by 25,000 to 471,000 last week, up from a revised 446,000 the previous week. Economists had expected 440,000 claims, down from an originally reported 444,000 the previous week. The number of claims was higher than expected and curbed a four-week trend of losses. Economists surveyed by Briefing.com had expected new claims to fall to 439,000. Read more 
Home Buyers Tax Credits Expire – Home Loan Demand Dives
home mortgage contract
The Mortgage Bankers Association reported today that mortgage purchase applications sank 27.1 percent to the lowest level since May 1997. Requests for home purchase loans have fallen almost 20 percent over the past month despite low borrowing costs.
Walking Away From Your Home Loan
Real estate market
Sad but true numbers tell the story in real estate:
26% of homeowners defaulted when they could afford to pay their loan.
11.3 million … number of U.S. homeowners whose mortgage balance exceeds the value of their home.
2015 is the year the typical homeowner who is now underwater will have some equity in his home.
14% is the average discount on a home sold by foreclosure vs. its equivalent in a traditional sale.
150 Credit score points that someone with a 780 score could lose are a short sale.
760 credit score you need to qualify for the best rates on a mortgage.