reportonbusiness.com: Signs of life in U.S. housing market

If you blinked you may have missed it. But on a day that featured another batch of dreadful U.S. economic data, there was a tiny sliver of light: U.S. mortgage applications rose last week.

Actually, soared is more like it. According to the Mortgage Bankers Association, its index of applications to refinance or take out new loans leaped 112 per cent from the previous week – the biggest increase on record – as borrowers rushed to lock in lower mortgage rates.

So does this mean the housing market is poised for recovery? Not likely. But it does show that the government’s efforts to stimulate consumer lending are having the desired effect. Besides, it’s about the only piece of positive news out there, so let’s dig a bit deeper and see what it means.

via reportonbusiness.com: Signs of life in U.S. housing market.

Tampa-St. Pete existing home sales up 11% in October – Tampa Bay Business Journal

Existing single-family home sales in the Tampa-St. Petersburg-Clearwater market were up 11 percent in October as sales prices become more manageable for the typical buyer.

The Tampa-St. Pete area closed on 2,021 homes in October compared to 1,814 a year ago, and was below the 15 percent average statewide, according to numbers released Monday by the Florida Association of Realtors. Median sales prices were down 26 percent from $205,600 in October 2007 to $152,300 last month.

via Tampa-St. Pete existing home sales up 11% in October – Tampa Bay Business Journal:

The Best Day of the Year to Buy Real Estate | About.com

I would say every day especially in this market, but I guess not. Spread the word!

When is the best time of the year to buy a home? There are at least two days of the year that give buyers the edge. Would you like to guess which two days are best for buying a home?

Every spring, as tulips struggle to poke through melting snow in the North and rosebuds cautiously open in Southern climes, sure as tootin’ real estate signs begin multiplying like bunnies across the country. Soon as the For Sale signs are mounted on the posts, swarms of activity buzz in the streets as sellers, buyers and real estate agents crawl out from wherever they hibernated for the winter to welcome the spring sales season.

There is nothing like a spring real estate market. Offers fly over FAX machines and cell phones ring constantly. Everybody wants a deal, and everybody wants to sell. Typically the marketplace is flooded with inventory. There is more on the market in the spring than any other time of the year.

Read the rest here: Best Time To Buy a Home – When is the Best Time to Buy a Home? – The Best Day of the Year to Buy Real Estate

Tampa sees increase in existing home sales – Tampa Bay Business Journal

Existing home sales in the Tampa Bay area went up in the third quarter compared to a year ago, as home sales statewide experienced an upswing.

Tampa, St. Petersburg and Clearwater had 6,502 existing single-family homes close through the third quarter, up 10 percent from the 5,913 sold in 2007. That was double the state average of 5 percent, although its median value drop of 19 percent to $169,700 was more in line with the drop through the rest of Florida of 20 percent, said the Florida Association of Realtors.

via Tampa sees increase in existing home sales – Tampa Bay Business Journal:

12 tips for saving on your homeowners insurance : Blanco County News

The article below comes from a Texas newspaper, but these helpful hints certainly apply just about anywhere, especially here in Florida. With today’s economic uncertainty, every dollar saved is a BIG help. #7 on this list was a surprising one, thankfully it doesn’t apply to me.

This year, after the food frenzy of Thanksgiving ends and before the holiday hustle and bustle begins, take some time to shop around for the best deal on your homeowners insurance. The Insurance Information Institute offers “12 ways to save” on insurance. Consider these tips when youre making comparisons.

1. Shop around

It will likely take some time, but simply comparing insurers and rates could save you money. The insurer you select should offer both a fair price and excellent service. Talk to a few different insurers to get an idea of the type of service they give. Ask them what they can do to lower your costs.

2. Raise your deductible

Deductibles are the amount of money you have to pay toward a loss before your insurance company pays. Deductibles on homeowner’s policies usually start around $250, but by increasing your deductible to $500, you could save up to 12%. Here are some general guidelines for how much you can save by increasing the deductible amount:

$ 500 – Save up to 12 percent

$1,000 – Save up to 24 percent

$2,500 – Save up to 30 percent

$5,000 – Save up to 37 percent

3. Get your home and auto policies from the same company

Many large insurers that offer several different consumer insurance and financial products will take 5 percent to 15 percent off your premium if you buy two or more policies from them.

4. When you buy a home, consider what insurance will cost

Is your dream house more than 50 years old? Count on your insurance costs rising. Some insurers will offer a discount of 8 percent to 15 percent, if your house is new. By the same token, avoid buying in areas that are prone to flooding and try to buy a home that’s close to the local fire station – your premiums will definitely be lower.

5. Insure your house, not the land

Insure the house – not the property on which it sits. After all, the land under your house isn’t at risk from theft, windstorm, fire and the other perils covered in your homeowners policy.

6. Improve your home security and safety

You can usually get discounts of at least 5 percent for a smoke detector, security system or dead-bolt locks.

for tips 7-12, click here: The Real Estate Corner : Blanco County News