Record Jump in Existing Home Sales

NEW YORK (CNNMoney.com) -- Sales of existing homes rose in July for the fourth consecutive month, lending support to economists who argue a recovery is near.

Sales of previously owned single-family homes were up 7.2% compared with June and 5% from July 2008, The National Association of Realtors (NAR) reported Friday. The monthly gain was the largest on record for existing-home sales, which NAR has tracked since 1999.

"The housing market has decisively turned for the better," said Lawrence Yun, NAR's chief economist. "A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales."
...
The July performance far exceeded expectations: A consensus of real estate experts had forecast sales of 5 million.

Read entire article

Allen Tate Rate Relief Program

Allen Tate RATE RELIEF Program

The Allen Tate Rate Relief Program is a unique program centered on seller-funded preferred financing. The seller commits to pay up to 3 percent of the purchase price toward a financing package from a qualified lender.

Seller Advantages

* Preferred financing sets the home apart from others on the market.
* Home showings may increase due to a higher level of buyer interest.
* Potential target market increases with more qualified buyers due to lower
income requirements and lower monthly payments.
* Home retains greater market value.



Buyer Advantages

* Program provides a permanent interest rate buydown.
* Below-market interest rate reduces buyer's monthly mortgage payment.
* Buyer may qualify for a larger home.
* Less buyer income is required to qualify for financing.
* Points are a tax deduction for the buyer in the year the property is
purchased.

$8,000 Tax Credit Only Available in 2009

The clock is ticking!

Currently there is an $8,000 federal tax credit available to home buyers. BUT, there is a catch! It is only available on homes purchased through November 30, 2009.

The tax credit is available to first-time home buyers and buyers who have not owned a home within the past three years, with single income of up to $75,000 or joint income up to $150,000.

Interior Painting Tips

Painting is a quick and easy way to completely change the look of a space. By doing some simple prep work you can make a huge difference in the quality of the results.

Get the surface ready.
You want the paint to glide on smoothly, so be sure the surface is clean before you start painting. Remove any handprints, dirt, or scuff marks. Lightly sand any glossy spots to avoid streaks.

Select a paint sheen and color.
Ah, the choices! Many paint stores are making it easier to narrow down your choices by offering small trial sizes so that you can test the color at home and look for any variations in daylight and night. Lighting has a big effect on the way color appears. Remember: Higher sheen paints tend to offer more durability than flat paints, so use them in high traffic areas. Stain or low-lustre finishes offer more warmth and depth than a flat paint. Consider a high sheen paint on the ceiling, which offers good reflection in the room.

Don't go cheap on the paint. It's always tempting to save a buck, but it might not be worth it on paint. Painting is a big job, so you want the expense and quality to show. The Rohm and Haas Paint Quality Institute, a national painting education group, recommends purchasing top quality acrylic latex interior paint, which will go on smoothly and allow for easy soap and water cleanups.

Choose the right paint tools.
If you're using a roller to paint, select the right lenght of roller nap cover for the proper paint coverage. The smoother your painting surface, the shorter the nap should be. Use synthetic materials, which are made from nylon or polyester, when applying latex or water-based paints.













Source: The Rohm and Haas Paint Quality Institute, REALTOR Magazine, April 2009