Housing affordability remained near its highest level nationwide for the seventh consecutive quarter as interest rates dipped below 5 percent for the first time since the series was first compiled nearly two decades ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) just released.
The HOI indicated that 72.1 percent of all new and existing homes sold in the third quarter of 2010 were affordable to families earning the national median income of $64,400. The index for the third quarter almost equaled the record-high 72.5 percent set during the first quarter of 2009 and marked the seventh consecutive quarter that the index rose above 70 percent. Until 2009, the HOI rarely topped 65 percent and never reached 70 percent.
"With interest rates remaining at historically low levels, and house prices starting to stabilize, homeownership is within reach of more households than it has been for almost 20 years," said NAHB Chairman Bob Jones, a home builder from Bloomfield Hills, Michigan. "While these favorable conditions are beginning to draw home buyers back into the market, builders continue to have major problems in obtaining credit for new-home construction, and this obstacle must be overcome if builders are to respond to improving demand moving forward."
Read more HERE at RIS Media.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Tuesday, November 30, 2010
Monday, November 29, 2010
HUD Launches New One-Stop Website for Economic and Housing Data
The U.S. Department of Housing and Urban Development has unveiled a new website (hud.gov/datamap) that consolidates a wide variety of economic and housing market data at the regional, state, metropolitan area and county levels.
Using data from the Census Bureau, Labor Department, state and local governments, housing industry sources, as well as HUD’s own field economists, the new website employs interactive maps that allow visitors to access a variety of reports—from a region-wide look at employment and housing activity to individual county-level figures on population trends, rental activity and vacancy rates.
“This is a powerful new tool that’s easy to use and offers the public a remarkable look at their local economic and housing markets,” said Dr. Raphael Bostic, HUD’s Assistant Secretary for Policy Development and Research. “Current and reliable data shouldn’t be hard to come by. This is precisely why this site will be so helpful to state and local leaders, developers, the real estate industry, and the general public who need the latest available data on their markets.”
HUD’s new website displays an interactive map of the U.S. allowing visitors an intuitive way to seek data in a number of areas of geography – from an entire region down to a particular county. In particular, the portal offers the following reports:
“Market at a Glance” reports contain economic and housing market data trends for every metropolitan area and county nationwide with employment data updated on a monthly basis. Employment data is provided from the Bureau of Labor Statistics and housing data is derived from the Census Bureau’s American Community Survey. Some adjustments are made by HUD field economists based on regional information. The data are expected to be released on a monthly basis for most of the metropolitan areas and counties. Eventually these reports will become “live” documents enabling field economists to include analysis as they complete more in-depth research for specific areas and monitor local conditions.
“Regional Housing Market Profiles” are based on the quarterly U.S. Housing Market Conditions report and include non-farm employment, population changes, and building activity. These regional profiles also focus on the most recent housing rental and sales activity for the past two years. In addition, approximately 10-12 individual metropolitan areas are specifically profiled each quarter to provide these same data down to the metro area level.
“Regional Narratives” are broad overviews of economic and housing market trends within 10 regions of the U.S. These narratives are based on information obtained by HUD economists from state and local governments, from housing industry sources, and from their ongoing investigations of housing market conditions
“Comprehensive Housing Market Analysis” – Periodically, HUD field economists focus on particular metropolitan housing markets to produce counts and estimates of employment, population, households, and housing inventory. Each housing market analysis considers changes in the economic, demographic, and housing inventory characteristics during three periods: from 1990 to 2000; from 2000 to the as-of date of the analysis; and from the as-of date to up three years in the future.
Originally posted HERE at RIS Media.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Using data from the Census Bureau, Labor Department, state and local governments, housing industry sources, as well as HUD’s own field economists, the new website employs interactive maps that allow visitors to access a variety of reports—from a region-wide look at employment and housing activity to individual county-level figures on population trends, rental activity and vacancy rates.
“This is a powerful new tool that’s easy to use and offers the public a remarkable look at their local economic and housing markets,” said Dr. Raphael Bostic, HUD’s Assistant Secretary for Policy Development and Research. “Current and reliable data shouldn’t be hard to come by. This is precisely why this site will be so helpful to state and local leaders, developers, the real estate industry, and the general public who need the latest available data on their markets.”
HUD’s new website displays an interactive map of the U.S. allowing visitors an intuitive way to seek data in a number of areas of geography – from an entire region down to a particular county. In particular, the portal offers the following reports:
“Market at a Glance” reports contain economic and housing market data trends for every metropolitan area and county nationwide with employment data updated on a monthly basis. Employment data is provided from the Bureau of Labor Statistics and housing data is derived from the Census Bureau’s American Community Survey. Some adjustments are made by HUD field economists based on regional information. The data are expected to be released on a monthly basis for most of the metropolitan areas and counties. Eventually these reports will become “live” documents enabling field economists to include analysis as they complete more in-depth research for specific areas and monitor local conditions.
“Regional Housing Market Profiles” are based on the quarterly U.S. Housing Market Conditions report and include non-farm employment, population changes, and building activity. These regional profiles also focus on the most recent housing rental and sales activity for the past two years. In addition, approximately 10-12 individual metropolitan areas are specifically profiled each quarter to provide these same data down to the metro area level.
“Regional Narratives” are broad overviews of economic and housing market trends within 10 regions of the U.S. These narratives are based on information obtained by HUD economists from state and local governments, from housing industry sources, and from their ongoing investigations of housing market conditions
“Comprehensive Housing Market Analysis” – Periodically, HUD field economists focus on particular metropolitan housing markets to produce counts and estimates of employment, population, households, and housing inventory. Each housing market analysis considers changes in the economic, demographic, and housing inventory characteristics during three periods: from 1990 to 2000; from 2000 to the as-of date of the analysis; and from the as-of date to up three years in the future.
Originally posted HERE at RIS Media.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Monday, November 22, 2010
Cute Portland Bungalow
1920's Bungalow recently updated with new kitchen & baths, 1st floor bedroom, deck overlooking beautifully landscaped lot. Bright & light, hardwood floors, close to shopping & 295. THIS IS A REAL CHARMER!
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Sunday, November 21, 2010
Portland News & Events
I. Traffic Advisories - Falmouth and Franklin
Starting this week and continuing through November 24th, Unitil will be replacing and upgrading natural gas service along Falmouth Street from Brighton Avenue and Forest Avenue between the hours of 7:00 AM and 7:00 PM. Two-way traffic will be maintained however, at times, traffic may be reduced to one lane with alternating inbound and outbound flow. Motorists are advised to seek alternate routes to avoid traffic and delays.
Monday evening at 7:00 PM, the outbound lanes of Franklin Street from Fore Street to Middle Street will be closed to traffic to allow for paving and realignment work associated with the Opechee construction project at the former Jordan’s Meats. The work is expected to be completed by 7:00 AM the following day. Traffic will be detoured to Fore Street, India Street and Middle Street. Motorists are advised to seek alternate routes to avoid traffic and delays and remember to share the road with bicycles.
II. Thanksgiving Holiday Trash Collection Changes
The Department of Public Services Solid Waste crews will not collect trash or recycling on Thanksgiving, November 25, and Friday, November 26. Residents who normally receive collection services on Thursday and Friday will need to wait until the following week December 2 and 3 for trash and recycling pick-up. If residents have further questions about their trash/recycling collection, they can contact the Recycling Hotline at 756-8189 or go to www.portlandmaine.gov.
The Riverside Recycling Facility will also be closed for the Thanksgiving Holiday, and will resume normal business hours on Saturday, November 27, 7:00 AM to 4:00 PM.
III. NBA/WNBA Fit, Dribble, Dish & Swish
This Sunday, Portland Recreation will host the NBA/WNBA Fit, Dribble, Dish & Swish event for boys and girls aged seven to twelve. The national basketball skills program gives kids a chance to showcase their fitness through a dribbling, passing and shooting competition. Local winners could move on to the regional competition. For more information about the program, visit www.nba.com/nbafit.
The event is free and open to the public. Boys and girls will be divided into three age groups, 7-8, 9-10 and 11-12. Competitors can sign up the day of the event and parents or guardians must complete the registration form. Participants will need to provide a copy of their birth certificate or other identification for age verification. For more information about the event, contact Portland Recreation at 756-8275 or via email atdapc@portlandmaine.gov.
When: Sunday, November 21, 2010
11:00 AM
Where: Riverton Community Center
1600 Forest Avenue, Portland
IV. Town Hall Meeting - Have you Become your Teen's Drug Dealer: What's in your medicine cabinet?
Later this month, the City of Portland Public Health Division, Portland Public Schools and Community Anti-Drug Coalitions of America will bring together parents, educators, retailers, law enforcement officials, healthcare professionals and others for a town hall meeting to discuss solutions for teens abusing prescription and over-the-counter medicine. According to the 2009 Monitoring the Future Survey, the preeminent national study on teen substance abuse, prescription drug abuse has increased by 20 percent since 2002 among those ages 12 and older. In 2009 in Cumberland County, 10.9% of high school students and 6.9% of 7th and 8th graders reported using a prescription drug not prescribed to them one or more times during the past 30 days, according to the Maine Integrated Youth Health Survey (MIYHS). For more information about this event, contact Ronni Katz at 756-8116 or visit the city’s public health Facebook page at www.facebook.com/portlandprevention.
When: Monday, November 29, 2010
6:30 PM – 8:00 PM
Where: King Middle School Cafeteria
92 Deering Avenue, Portland
V. Mayoral Caucus Monday
Monday, the Portland City Council will meet to select the city’s next Mayor. The selected councilor will serve as Mayor for the City of Portland beginning December 6, 2010 and ending December 5, 2011. The Mayoral inauguration will take place December 6th following the swearing in of elected City Councilors John Anton, Jill Duson and District 3 City Councilor Ed Suslovic.
The Mayor for the 2011 calendar year will be the last mayor elected by the City Council. Following this November’s voter-approved City Charter amendments, the 2012 Mayor will be elected in a citywide election November 8, 2011. This summer, prospective candidates for the popularly elected mayor will be able to file nomination papers with the signatures of at least three hundred Portland registered voters with the City Clerk. The mayoral election will be determined through ranked choice voting, a preferential voting system, which allows voters to mark candidates in order of preference (#1, #2, #3, etc.). If no one candidate receives the majority of the vote, the candidate who received the fewest votes will be eliminated and those ballots will be sorted by the next highest preference. This elimination process will be repeated until one candidate has received a majority of votes.
When: Monday, November 22, 2010
5:00 PM
Where: City Council Chambers, City Hall
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Wednesday, November 17, 2010
HUD to Launch Pilot Program to Help Homeowners
HUD announced a new pilot program that will offer credit-worthy borrowers low-cost loans to make energy-saving improvements to their homes. Backed by the Federal Housing Administration (FHA), these new FHA PowerSaver loans will offer homeowners up to $25,000 to make energy-efficient improvements of their choice, including the installation of insulation, duct sealing, doors and windows, HVAC systems, water heaters, solar panels, and geothermal systems.
HUD and FHA developed PowerSaver as part of the Recovery Through Retrofit initiative launched in May 2009. More homeowners are interested in making their homes energy efficient, according to industry forecasts. Yet options are still limited for financing home energy improvements, especially for the many homeowners who are unable to take out a home equity loan or access an affordable consumer loan. HUD today published a notice seeking the participation of a limited number of mortgage lenders in the two-year pilot program slated to begin in early 2011.
“PowerSaver provides lenders with a new product option to serve a potentially growing market,” said David H. Stevens, FHA Commissioner. “We believe there are a number of lenders who will be interested in working with us to help save energy and money for homeowners, while creating jobs and cutting greenhouse gas emissions.”
Lenders will be selected to participate in the PowerSaver pilot based on their capacity and commitment to provide affordable home energy improvement financing. Lenders will be required to serve communities that have already taken affirmative steps to expand home energy improvements. HUD will help lenders identify such markets – which exist in many suburban, rural and urban areas across the country.
PowerSaver loans will be backed by the FHA – but with significant “skin in the game” from private lenders. FHA mortgage insurance will cover up to 90 percent of the loan amount in the event of default. Lenders will retain the remaining risk on each loan, incentivizing responsible underwriting and lending standards. FHA will provide streamlined insurance claims payment procedures on PowerSaver loans. In addition, lenders may be eligible for incentive grant payments from FHA to enhance benefits to borrowers, such as lowering interest rates.
PowerSaver has been carefully designed to meet a need in the marketplace for borrowers who have the ability and motivation to take on modest additional debt to realize the savings over time from a home energy improvement. PowerSaver loans are only available to borrowers with good credit, manageable overall debt and at least some equity in their home (maximum 100% combined loan to value).
Originally posted HERE at RIS Media.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
HUD and FHA developed PowerSaver as part of the Recovery Through Retrofit initiative launched in May 2009. More homeowners are interested in making their homes energy efficient, according to industry forecasts. Yet options are still limited for financing home energy improvements, especially for the many homeowners who are unable to take out a home equity loan or access an affordable consumer loan. HUD today published a notice seeking the participation of a limited number of mortgage lenders in the two-year pilot program slated to begin in early 2011.
“PowerSaver provides lenders with a new product option to serve a potentially growing market,” said David H. Stevens, FHA Commissioner. “We believe there are a number of lenders who will be interested in working with us to help save energy and money for homeowners, while creating jobs and cutting greenhouse gas emissions.”
Lenders will be selected to participate in the PowerSaver pilot based on their capacity and commitment to provide affordable home energy improvement financing. Lenders will be required to serve communities that have already taken affirmative steps to expand home energy improvements. HUD will help lenders identify such markets – which exist in many suburban, rural and urban areas across the country.
PowerSaver loans will be backed by the FHA – but with significant “skin in the game” from private lenders. FHA mortgage insurance will cover up to 90 percent of the loan amount in the event of default. Lenders will retain the remaining risk on each loan, incentivizing responsible underwriting and lending standards. FHA will provide streamlined insurance claims payment procedures on PowerSaver loans. In addition, lenders may be eligible for incentive grant payments from FHA to enhance benefits to borrowers, such as lowering interest rates.
PowerSaver has been carefully designed to meet a need in the marketplace for borrowers who have the ability and motivation to take on modest additional debt to realize the savings over time from a home energy improvement. PowerSaver loans are only available to borrowers with good credit, manageable overall debt and at least some equity in their home (maximum 100% combined loan to value).
Originally posted HERE at RIS Media.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Tuesday, November 16, 2010
Portland- Bowling, Boarding & Walking
No Thanksgiving Trash and Recycling Collection
The Department of Public Services Solid Waste crews will not collect trash or recycling on Thanksgiving, November 25, and Friday, November 26. Residents who normally receive collection services on Thursday and Friday will need to wait until the following week December 2 and 3 for trash and recycling pick-up. If residents have further questions about their trash/recycling collection, they can contact the Recycling Hotline at 756-8189 or go to www.portlandmaine.gov.
The Riverside Recycling Facility will also be closed for the Thanksgiving Holiday, and will resume normal business hours on Saturday, November 27, 7:00 AM to 4:00 PM.
Make a Strike for the HOME Team
At the end of the month, Bayside Bowl will host a fundraiser for the Homeless Outreach and Mobile Engagement (HOME) Team project. Bowlers can enjoy a fun night of great fun, great food and great music knowing that five percent of the night’s sales will support a great cause.
Launched this summer, the HOME Team led by Milestone Foundation in partnership with the city, health care providers and the Portland’s Downtown District, provides real time street intervention with individuals who are engaging in disruptive behaviors that are often the result of psychosocial stressors associated with poverty, homelessness, substance abuse and mental illness. Street outreach workers help guide homeless individuals and people living on the streets to appropriate social services, and by providing proactive intervention services, the HOME Team is often able to avoid the need for more intensive and expensive interventions by police, emergency medical services and hospital emergency room services.
Street intervention outreach workers will respond to calls from members of the public, business and property owners who are seeking assistance and are concerned about people living on the streets that are in distress. For more information about the HOME Team or the Milestone Foundation, visitwww.milestonefoundation.org or call 207-775-4790.
To make reservations at Bayside Bowl, visit www.baysidebowl.com or call 791-2695.
When: Monday, November 29, 2010
4:00 PM – 1:00 AM
Where: Bayside Bowl
58 Alder Street, Portland
Portland Skatepark Grand Opening Next Saturday
The City of Portland and the Skatepark Planning Committee will officially cut the caution tape, opening the new Portland Skatepark to the public. The celebration will feature an open skate and lessons for people looking to learn how to ride provided by Ride 207 as well as music and refreshments. The event marks the end of a three year effort to fund and build a new skatepark in the city.
Constructed by Hardcore Shotcrete Skateparks Inc., the skatepark includes a number of features for both boarders and bikers at all skill levels, such as a skateable bench, a transfer gap, A-frame pyramid, a skate dish, hubba ledges, steps, rails, rollers, euro gap, radial ledges and a quarter pipe. The skatepark was designed to allow for seamless flow from one section to another.
WHEN: Saturday, November 20, 2010 (Rain date – Sunday, November 21, 2010)
10:00 AM – 2:00 PM
WHERE: Portland Skatepark
Dougherty Field, St. James Street
V. Too cold outside? Try Winter Walkin' with Portland Recreation
Starting Monday, Portland Recreation will offer an indoor walking program at three of the city’s community centers. For people looking to keep active and warm this winter, they can join friends or meet neighbors for indoor walks weekday mornings. Mile markers will be set out along the route for walkers to track their distance.
The program is free and open to all ages. For more information contact Portland Recreation at 756-8275 or via email at dapc@portlandmaine.gov.
When: Weekdays (follows Portland School calendar) November 15, 2010 – March 18, 2011
6:00 AM – 7:30 AM
Where: East End Community Center, 195 North Street
Reiche Community Center, 166 Brackett Street
Riverton Community Center, 1600 Forest Avenue
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Monday, November 15, 2010
Book signing at Nonesuch Books & Cards
Meg will be signing in our South Portland store on Saturday, November 20th, 11:00-1:00.
Please join local author and macrobiotic specialist, Meg Wolff, for a signing of her new highly anticipated cookbook, a Life in Balance. Meg brought us her compelling story of breast cancer survival through the use of macrobiotics in 2006. Becoming Whole, her first book, was a local best seller. Now Meg shares her macrobiotic recipes and advice towards greater healing and prevention.
Publisher blurb- The first original title in Down East Books' brand new Best Maine Food series, this inspirational cookbook proves that good food fosters good health. When a mastectomy, radiation, and chemotherapy couldn't stop meg Wolff's breast cancer in 1999, her doctors told her to prepare her soul. Instead, she tood a leap of faith by giving an unconventional approach a try. She began a diet based on whole grains, vegetables, and beans. Now vibrantly healthy, Meg is living proof that changing your diet can indeed save your life. This book is full of Meg's recipes, menu plans, and tons of information to help inspire readers to eat better, and live better.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Saturday, November 13, 2010
New West End Condo For Sale
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Friday, November 12, 2010
Waterfront Cape Elizabath Home - Gorgeous!
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
In 60s, Refinance to Shorter-Term Mortgage
From loan modification offers to finding a reputable financial adviser, this week's "Ask the Experts" questions cover wide ground. The answers are from Steven Zeller, an investment adviser from Gold River, Calif., and Jerod Wurm, a certified financial planner in Roseville, Calif.
QUESTION: My bank sent an unsolicited letter saying I have a week to sign up for a loan modification. I currently have a 5.75 percent, 30-year fixed loan with about 24 years left. The bank says it can lower the interest rate to 4.75 percent with no fees, closing costs, document submittals, etc.
I am over 60 and still working full time. I have all my accounts at this bank and have excellent credit and payment history. I researched online and still cannot figure out if this is a good deal. The bank says it's doing this to reward good customers, but we all know that banks don't do anything unless it makes them money. I don't know whom to trust. Do you think this is a good deal?
ANSWER: I think it is a good idea to consider refinancing your mortgage, since your existing mortgage is well above current rates. But with 24 years left on your current loan, I would not refinance with another 30-year loan. At 60, you do not want to have a mortgage into your late 80s.
Instead, I would look into a 15-year mortgage and see if the bank will also allow weekly payments. That often shaves another two or three years off a loan, meaning your house could be paid off by your early 70s.
Assuming you can comfortably afford the monthly payments, I would look at a loan with a 15-year duration.
As far as no-closing-cost refinancing, it's a deal that banks often offer to current customers. But remember, there is no free lunch.
It sounds as if the loan is based on a premium price structure, which means it is not the lowest rate possible but the lender picks up the closing costs, etc. Ask if your bank will pick up the first year's pro-rated costs, such as loan interest, property taxes and homeowners' insurance.
In summary: I would look at a lower-rate mortgage with a shorter duration. I'd also recommend processing the loan in person at the bank, rather than over the phone or online. I would feel more comfortable handling the documents in person, especially if confidential financial information is included.
Q: I recently took a retirement package and need to roll over my 401(k) and pension funds. What is the best way to find an adviser for my options, as well as for future decisions? I plan to work another eight to 10 years.
A: One of the best ways to find an adviser is to ask your friends or family members whom they work with and whether they would recommend their adviser.
If you are not comfortable discussing your finances with someone close, I recommend going online to find a credentialed adviser in your area. You might tryhttp://www.cfp.net/search/, which is the official website of the Certified Financial Planners Board of Standards Inc. Another good option is http://www.fpanet.org, the website of the Financial Planning Association.
Both sites allow consumers to find advisers in their area who adhere to professional guidelines on how they work with clients.
You will want to ask any potential adviser such questions as: How are you compensated? What is your experience in terms of clients, training and years on the job? Ask the adviser to walk you through his/her process for helping you work toward your financial goals.
The websites mentioned also provide questions and tools that consumers can use when interviewing potential financial advisers. Take your time and interview two or three different advisers before deciding who is right for you.
Originally posted HERE at RIS Media.
QUESTION: My bank sent an unsolicited letter saying I have a week to sign up for a loan modification. I currently have a 5.75 percent, 30-year fixed loan with about 24 years left. The bank says it can lower the interest rate to 4.75 percent with no fees, closing costs, document submittals, etc.
I am over 60 and still working full time. I have all my accounts at this bank and have excellent credit and payment history. I researched online and still cannot figure out if this is a good deal. The bank says it's doing this to reward good customers, but we all know that banks don't do anything unless it makes them money. I don't know whom to trust. Do you think this is a good deal?
ANSWER: I think it is a good idea to consider refinancing your mortgage, since your existing mortgage is well above current rates. But with 24 years left on your current loan, I would not refinance with another 30-year loan. At 60, you do not want to have a mortgage into your late 80s.
Instead, I would look into a 15-year mortgage and see if the bank will also allow weekly payments. That often shaves another two or three years off a loan, meaning your house could be paid off by your early 70s.
Assuming you can comfortably afford the monthly payments, I would look at a loan with a 15-year duration.
As far as no-closing-cost refinancing, it's a deal that banks often offer to current customers. But remember, there is no free lunch.
It sounds as if the loan is based on a premium price structure, which means it is not the lowest rate possible but the lender picks up the closing costs, etc. Ask if your bank will pick up the first year's pro-rated costs, such as loan interest, property taxes and homeowners' insurance.
In summary: I would look at a lower-rate mortgage with a shorter duration. I'd also recommend processing the loan in person at the bank, rather than over the phone or online. I would feel more comfortable handling the documents in person, especially if confidential financial information is included.
Q: I recently took a retirement package and need to roll over my 401(k) and pension funds. What is the best way to find an adviser for my options, as well as for future decisions? I plan to work another eight to 10 years.
A: One of the best ways to find an adviser is to ask your friends or family members whom they work with and whether they would recommend their adviser.
If you are not comfortable discussing your finances with someone close, I recommend going online to find a credentialed adviser in your area. You might tryhttp://www.cfp.net/search/, which is the official website of the Certified Financial Planners Board of Standards Inc. Another good option is http://www.fpanet.org, the website of the Financial Planning Association.
Both sites allow consumers to find advisers in their area who adhere to professional guidelines on how they work with clients.
You will want to ask any potential adviser such questions as: How are you compensated? What is your experience in terms of clients, training and years on the job? Ask the adviser to walk you through his/her process for helping you work toward your financial goals.
The websites mentioned also provide questions and tools that consumers can use when interviewing potential financial advisers. Take your time and interview two or three different advisers before deciding who is right for you.
Originally posted HERE at RIS Media.
Thursday, November 11, 2010
Maine AIDS Alliance Survey - Please Help Them Plan for the Future!
From the Maine AIDS Alliance;
We need your help. The Maine AIDS Alliance (MAA) is engaged in a long-range planning process and is seeking the opinions of supporters, volunteers, providers of HIV/AIDS prevention or care services, people living with HIV/AIDS and others who are concerned about HIV/AIDS in Maine. Would you please take 10 minutes to complete the following survey to help us chart our future?
http://www.surveymonkey.com/s/VHZLTPZ
Thank you so much. All response are appreciated and confidential. Please answer questions to the best of your ability.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
We need your help. The Maine AIDS Alliance (MAA) is engaged in a long-range planning process and is seeking the opinions of supporters, volunteers, providers of HIV/AIDS prevention or care services, people living with HIV/AIDS and others who are concerned about HIV/AIDS in Maine. Would you please take 10 minutes to complete the following survey to help us chart our future?
http://www.surveymonkey.com/s/VHZLTPZ
Thank you so much. All response are appreciated and confidential. Please answer questions to the best of your ability.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Wednesday, November 10, 2010
New Portland Listing from The Hatcher Group
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
New South Portland Listing
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Single Family Housing Guaranteed Loan Program
Funding Now Available!
Funding for the Single Family Housing Guaranteed Loan Program is now available for fiscal year 2011, under the Continuing Resolution.
Purchase type loans will be subject to a 3.5% upfront guarantee fee.
Refinance type loans will be subject to a 1% upfront guarantee fee.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Tuesday, November 9, 2010
What's Happening in Portland
I. Back Cove Repairs Start Next Week
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Starting yesterday and continuing for two weeks, trail repairs will be underway along the southwest approach to Tukey’s Bridge of the Back Cove Trail (2.25 mile marker) and as a result, the trail connector underneath Tukey’s Bridge that connects the Eastern Promenade Trail at the East End Waste Water Treatment Facility to the Back Cove Trail will be closed to pedestrians. The Back Cove Trail loop will be open to all traffic.
II. Art Exhibit in City Hall
Art At Work is pleased to present “LINES Portland”, an exhibit of artist Katarina Weslien’s prints based on the road repair lines made by the Public Services crews in Portland, Maine. The exhibit will be held at the City Council Chambers Gallery, City Hall, 2nd Floor, 389 Congress Street, Portland from November 9 to February 11, 2011. An opening reception will be on Tuesday, Nov. 9 from 5 to 8 pm., with a panel discussion in the gallery at 5:30 pm with artist Katarina Weslien, Art At Work Director Marty Pottenger and members of the Public Services road repair crew – Gordie Greenlaw, Dave Melendez, Dave Shaw, Chris Nassa and Brian Cogill. Gallery hours are Monday – Friday, 8 am to 5 pm.
In a welcome convergence between the invisible labor of running a city and an exceptional artist’s eye, the unintentional beauty of the road repair crew’s labor has inspired Weslien to incorporate those designs into fine art prints. In LINES Portland, these connections continue beyond the exhibit onto the City of Portland’s website. Residents are encouraged to take photos of road repair lines that they like in their neighborhoods and send them to artatwork@portlandmaine.gov along with a short story about something the city does that has made a positive difference in their life.
Photographs and stories will be posted online and at the gallery on a new 4x8 map of Portland for everyone to enjoy. Online map and submission guidelines are at www.lines.portlandmaine.gov LINES Portland is hosted by Art At Work, AFSCME Local 481 and the City’s Department of Public Services.
III. Forest City Times - A Production of Two Original Performances, Radio Calls and The Weeping City
Art At Work is honored to present an evening of two original performances – Radio Calls with Portland police officers and - The Weeping City with students from Portland High School. A facilitated dialogue with officers, students and audience will follow the performances. Forest City Times opens with The Weeping City, a production by Maine Inside Out with Portland High School students, exploring their relationship with the police. Forest City Times continues with Art At Work’sRadio Calls, a performance by Portland police officers about their lives, work and interactions with Portland's youth. The evening concludes with a facilitated dialogue with performers and audience that looks at where we are, where we want to be and how, together, we might head in that direction.
The two performances in Forest City Times create their own civic art-based dialogue, with the post performance dialogue bringing the public into it as well. On its own, each performance offers valuable information and insight as Portland continues to address the rising tensions that recent clashes, hearings and meetings have revealed. But together, sharing both a collaborative process and a duet performance, the possibilities for impact and outcomes are exponentially increased.
When: Thursday, December 9th 6.30 to 9pm
Where: Portland Public Library, Rines Auditorium
IV. Annual District Meetings Start Next Week
Beginning next week, the City of Portland’s annual district meetings will be held throughout the city. City Councilors and staff will be available to discuss neighborhood issues and answer questions from the public. These meetings are the public’s opportunity to meet their district councilor, the Mayor and representatives from the various departments within the city.
District 1 Meeting
Hosted by Councilor Kevin Donoghue
Tuesday, November 9 at 7:00 PM
East End Community Center, 195 North Street
District 2 Meeting
Hosted by Councilor David Marshall
Wednesday, November 10 at 7:00 PM
Reiche Community Center, 166 Brackett Street
District 3 Meeting
Hosted by Councilor Dan Skolnik
Tuesday, November 23 at 7:00 PM
Deering High School Cafeteria, 370 Stevens Avenue
District 4 Meeting
Hosted by Councilor Cheryl Leeman
Thursday, November 18 at 7:30 PM
Presumpscot School, 69 Presumpscot Street
District 5 Meeting
Hosted by Councilor John Coyne
Wednesday, November 17 at 7:00 PM
Riverton Community Center, 1600 Forest Avenue
For more information about these meetings, contact Mike Murray, the city’s Island and Neighborhood Administrator at 756-8288, or MSM@portlandmaine.gov.
V. Anthony's First to Participate in Smart Meals for ME
Anthony’s Italian Kitchen has expanded his menu to include lighter side option. This change was made possible by the city’s Smart Meals for ME program. In addition to expanding the lower-calorie options, Anthony’s has installed new menu boards with calorie information for all items. Studies link eating out with obesity and higher caloric intakes with nine out of ten consumers underestimating the calorie content of restaurant foods by more than six hundred calories.
Funded by Healthy Portland, a local Healthy Maine Partnership and program of the City of Portland’s Health and Human Services Department, Smart Meals for ME encourages local, non-chain restaurants to provide calorie information on their menus. Through Healthy Portland’s Communities Putting Prevention to Work obesity prevention grant, free assistance is available from a registered dietician to analyze menus and create new lower calorie options, as well as assist in printing new menus with nutritional information. Anthony’s Italian Kitchen is the first restaurant to have completed participation in the program. For more information about Smart Meals for ME, email smartmealsforme@gmail.com or become a follower on Facebook, www.facebook.com/smartmealsforme.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Saturday, November 6, 2010
Woodinville Wine Country
Washington State is recognized for many things: Mount Rainier, the Space Needle, Pike Place Market, and cherries and apples, just to name a few. But this Pacific Northwest state is also the largest producer of premium wines next to California.
In recent years, hundreds of small producers have followed in the footsteps of well-known Chateau Ste. Michelle. And today, minutes from the historic French-style chateau, fifty-four of Washington’s 650 wineries are releasing noteworthy estate vintages in a countrified setting known as Woodinville Wine Country, just twenty miles northeast of Seattle.
“Estate” generally means grapes are grown on the winery’s own land, but nearly all Woodinville wineries source fruit from established vineyards in the Columbia Valley, east of the Cascade Mountains, where sunny days and cool evenings allow the grapes to mature slowly and yield beautifully balanced wines with loads of bright fruit and character.
A few days in Woodinville make for a memorable adventure for the wine aficionado who enjoys swanky lodging and spas, scrumptious farm-to-table cuisine, and gorgeous scenery from the car—or on a bike along the trails that tie many of the wineries together.
There are two outstanding lodging choices in the area, both associated with award-winning chefs and extensive wine programs emphasizing local producers.
Eight miles down the road from Woodinville is the charming resort-like town of Kirkland on Lake Washington, where you’ll find the boutique Heathman Hotel. Large rooms with chic decor have deluxe amenities, and natural wellness is the mantra of the hotel’s luxurious Penterra Spa, with the most professional therapists you’ll find anywhere. My Swedish massage and 75-minute facial rank in my top restorative spa experiences ever.
Just off the hotel lobby is Trellis, where artisan farmer and executive chef Brian Scheehser takes fresh seasonal produce, often grown on his own ten-acre Woodinville plot or preserved in the hotel’s root cellar, and artisan ingredients and transforms them into memorable meals brimming with natural flavors. Special touches like pickled tomatoes are brought to the table to savor, just a hint of the rustic and inventive style that is uniquely his. You won’t be disappointed.
Across the road from Chateau Ste. Michelle is Willows Lodge, an elegant wine country inn. With quintessential Northwest architecture and interiors, spacious rooms overlook lush grounds that include a formal herb garden and Fireside Cellars Patio complete with a fire pit—perfect for gathering around at Happy Hour after a long soak in an oversized tub for two.
Continue reading HERE at Home By Design.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
Friday, November 5, 2010
The Right Choice For Your Lifestlye
Walls can be repainted and furniture slipcovered, but floors are a more permanent statement, so choosing new flooring can present a challenge for many homeowners. There is a huge assortment of flooring available today. How do you find what is perfect for your home? Here are some general questions that will help you make the right choice:
• What is the size of the room and how will it be used? Will it be exposed to moisture?
• Are there children or pets in the family?
• Is it a high-traffic area, such as a foyer or family room, or a lightly used room, such as an office?
• How often do you expect the flooring will need to be cleaned?
• What is your budget? Do you plan to do the installation yourself?
Rooms such as kitchens and bathrooms require durable flooring that’s easy to clean. In the bathroom, particularly, moisture problems must also be addressed. Vinyl flooring is a popular option because it is inexpensive and extremely easy to maintain. Vinyl sheet flooring should be installed by a professional; however, vinyl tiles can be installed by the homeowner. On the downside, vinyl, a synthetic product made from chlorinated petrochemicals, can be cut if a sharp object is dropped on it, and it will melt if a lighted match or heated iron lands on it.
Linoleum, a product produced from all-natural ingredients, is experiencing a resurgence. Today’s product comes in a bunch of vibrant hues, as well as some retro patterns. It is considered to be green because its components are natural, largely renewable, and there are no toxins involved in its manufacture. The color goes all the way through linoleum, and it is very durable, water resistant, and easy to maintain. Again, sheet linoleum should be installed by a professional, but tiles could be installed by a homeowner.
Ceramic tile has long been a favorite in bathrooms and kitchens because of its durability and longevity. It is easy to clean and comes in countless textures, colors, and patterns. Ceramic tiles are more expensive than vinyl or linoleum, but they can be installed by a do-it-yourselfer. However, if installed over a floor that has structural movement, ceramic tiles are prone to crack. Their primary downside is that smooth tiles can be slippery when wet.
A new twist on the ceramic tile concept is glass tile, and many designs and colors are now available for flooring. There are even green glass tiles made from recycled bottles and jars. Glass tiles are expensive and not as durable as ceramic. And, many tile experts suggest using small tiles to distribute the weight more evenly.
Limestone, marble, and granite are also excellent choices for the bath or kitchen. Stone is an expensive product, and it is best to have it installed by an expert. Again, it requires a strong subfloor and has the potential to be slippery when wet, especially in the polished form. Natural stone floors are also available with a honed or textured surface, but these may require some special sealant to prevent stains.
Hardwood floors are becoming a popular choice for both kitchens and baths. If finished properly to be water resistant with a few good coats of clear gloss sealant, they offer a warm, rich look and are easy to maintain. Hardwood should not be installed below ground, where humidity can cause problems.
Bamboo is an alternative to regular wood flooring. Bamboo is a grass and is very renewable. It comes in tongue and groove planks, like hardwood flooring, and maintenance is similar to that of wood. Moisture does not cause it to expand or contract excessively, so it is a good choice for kitchens and baths.
Laminate flooring is made of layers of materials literally bonded together for strength. The surface of a laminate plank is a photographic image taken with a high-resolution film that provides an extremely realistic appearance. Laminate flooring, which is durable and very easy to maintain, is another logical choice for bathrooms and kitchens and below-ground basements. It can be installed by the homeowner with the proper tools and instructions.
Living areas that are not subject to moisture can use any of the floorings we’ve already discussed, but they have even more options. Concrete, for example, is one of the newest and most popular flooring materials. The new concretes are stylish, colorful, and unique and can have a rough or smooth texture. With the addition of glass chips or metal shavings, the floor can take on the look of terrazzo. Concrete is just as appropriate for a finished basement or a formal living room depending upon the finish. It is best installed by a professional.
Cork has been a classic floor covering for decades. Today it comes in tiles or tongue-in-groove planks and in a variety of colors and patterns. A natural and renewable substance, cork is considered a green option.
Leather is a very expensive option and needs quite a bit of maintenance, but it offers a wonderful buttery feel and a subtle leather scent. Appropriate for rooms that are used lightly, it should be installed by a professional.
Carpet has always been a favorite for flooring. Especially comfortable in bedrooms, it provides soundproofing and some insulation. Wool is softer than synthetics, is exceptionally durable, and offers great stain resistance, but it is the most expensive of the fibers. Nylon has excellent soil resistance, is very durable, and has a lovely feel. Most nylon carpets are less costly than wool. Olefin, or polypropylene, is durable and water and stain resistant. Best in low-pile carpets, it is popular in indoor/outdoor carpeting and berbers. Polyester is popular because of its softness and economical cost. It has good color retention and soil resistance but is not as resilient as nylon. Finally, acrylic carpets have the feel and look of wool at a reasonable price. The fiber tends to fuzz and pill,
but because it is moisture and mildew resistant it is often found
in bathroom rugs.
but because it is moisture and mildew resistant it is often found
in bathroom rugs.
John Hatcher
Keller Williams Realty - The Hatcher Group
6 Deering Street | Portland, Maine 04101
207-775-2121 Office | 207-775-2122 Fax
http://JohnHatcher.us
John@JohnHatcher.us
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