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Increasing home ownership by reforming Dodd-Frank

 

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When President Trump was campaigning, one of his talking points was to “dismantle” Dodd-Frank. And after a couple of weeks in office, it seems that it’s next on his “to do” list. While many are already touting the move as controversial and partisan, the reality is that it’s a bipartisan issue. Even Barney Frank was seen on CNBC this past Sunday admitting that his namesake legislation needs reform (video.cnbc.com/gallery/?video=3000590611).

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About FHA home insurance confusion and clarity

 

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There’s been a lot of reporting on Federal Housing Administration mortgages lately, creating some confusion. Of course I’m referring to the controversy surrounding FHA’s annual mortgage insurance premium (also known as MIP). Many were surprised to hear that one of the outgoing directives of the Obama administration was to lower the FHA MIP. And, eleven days later, many were just as surprised to hear that the new Trump administration reversed that directive.

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Choose the best way to sell your home at the best price

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We are only two weeks into the New Year, but the Maryland General Assembly has been busy. So far a number of bills have been introduced that affect home owners, buyers, renters, and landlords. Surely there will be others proposed through legislative session. Because these bills have a way to go before they are signed into law, you have an opportunity to voice your opinions to your State Representatives.

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Choose the best way to sell your home at the best price

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As the housing market strengthens, consumer confidence in real estate increases. Along with a stronger home sale market comes the increase of for-sale-by-owners (FSBO). The obvious upside to selling a home on your own is to increase your net. And a study conducted in 2009 may support your FSBO yearnings.

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And now time for the ‘Greedy’ little home owner/seller

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When there is a buzz about home sellers being greedy, you know home sales are doing well. So, not surprisingly, along with last year’s record home sales came the reports of greedy home sellers. Are home sellers really greedy, or are they adjusting to the market where home prices are increasing?

Greed has developed a bad rap. Surely there is an evolutionary basis for greed. Many believe that early hominids promoted personal and group survival by being “greedy” (although disputed by some).

Those who hoarded food, so as to have more than enough, lived through difficult winters and droughts.

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Paying a premium is at a premium for premium location

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There is an ongoing debate about the value of paying a “premium” for a home site when buying a new home. Certainly, the home builder is seeking to increase their profit margin. But for a home buyer, there is a question of future value.

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Checking out your “Financial Soul” report

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One of the main reasons you’re likely to be declined for a mortgage is your credit report. More specifically, derogatory information contained therein. Unfortunately, many of us are still not proactive when it comes to our credit report. And for many, erroneous information that is foisted upon them without their knowledge affect their daily lives.

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Looking at the future of homeownership

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Homeownership wasn’t always part of the American Dream. The American Dream originated as a concept about increasing one’s quality of life, which was well established before our country’s independence from Britain. John Kenneth White and Sandra L. Hanson discussed the history of the American Dream in the introduction to their edited collection “The American Dream in the 21st Century” (2011; Temple University Press). They describe the American Dream as being fundamental to the Declaration of Independence. But the idiom “American Dream” was not in our lexicon until the 20th century. Although James Truslow Adams has been credited for the phrase “American Dream;” White and Hanson attribute its first use to Walter Lippmann, who used it in his 1914 book “Drift and Mastery.” Adams’ 1931 work “The Epic of America” was the first widely accepted promotion of the phrase “American Dream.”

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'Fake News' is well established in real estate

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“Fake news” is the cause du-jour that has energized many into a movement to stop the spreading of falsehoods. Ironically, the crusaders who point their finger at alleged sources of fake news may also be guilty of promoting it. Fake news accusations are sometimes used to promote misinformation and half-truths. Unfortunately, fake news has become a meme that is becoming trite and meaningless. The promotion of fake news may be found throughout history, but it is certainly well established in the real estate industry.

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