TOLL BROTHERS HUGE DREAM HOME SAVING! PLEASE CHECK OUT THERE SPECIAL WESITE: www.mytolldreamhome.com This is the best time to buy a Toll Home, offer ends Aug 1, 2010 so hurry!
Your Northern Virginia New Homes Real Estate Specialist Century21 New Millennium
National Builders
Thursday, July 29, 2010
http://www.mytolldreamhome.com
TOLL BROTHERS HUGE DREAM HOME SAVING! PLEASE CHECK OUT THERE SPECIAL WESITE: www.mytolldreamhome.com This is the best time to buy a Toll Home, offer ends Aug 1, 2010 so hurry!
Thursday, July 22, 2010
NEW RECORD LOW FOR MORTGAGE RATES
Mortgage rates hit new record low
Source: Associated Press/AP Online
Publication date: July 22, 2010
NEW YORK - Mortgage rates fell to a new record low for the fourth time in five weeks. But low rates haven't been enough to lift a struggling housing market.
The average rate for 30-year fixed loans this week was 4.56 percent, down from 4.57 last week, mortgage company Freddie Mac said Thursday. That's the lowest since Freddie Mac began tracking rates in 1971.
The last time home loan rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years.
The rate on the 15-year fixed loan dropped to 4.03 percent, down from 4.06 percent last week and the lowest on records dating back to 1991.
Rates have fallen since the spring. Investors worried about the European debt crisis have shifted money into the safety of Treasury bonds. That has forced those yields down. Mortgage rates tend to track yields on Treasury debt.
However, low rates have yet to spark home sales and refinancing activity remains moderate.
Sales of previously occupied homes fell in June and are expected to keep sinking. The National Association of Realtors said Thursday that last month's sales fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million.
The housing market stalled after federal tax credits for homebuyers expired at the end of April. Home sales have dropped off, homebuilder confidence has waned and consumer sentiment is in the dumps.
It's unlikely low mortgage rates will bolster housing. Rates have hovered near historic lows for more than a year, so many people have already taken advantage of them to buy or refinance a home.
And many of those who haven't wouldn't qualify for a loan. They either owe more than their homes are worth, have shaky credit or have lost their jobs.
To calculate the national average, Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
Rates on five-year adjustable-rate mortgages averaged 3.79 percent, down from 3.85 percent a week earlier. Rates on one-year adjustable-rate mortgages fell to an average of 3.70 percent from 3.74 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Mac's survey averaged 0.7 a point for 30-year, 15-year and 1-year loans. The average fee for 5-year loans was 0.6 of a point.
Source: Associated Press/AP Online
Publication date: July 22, 2010
NEW YORK - Mortgage rates fell to a new record low for the fourth time in five weeks. But low rates haven't been enough to lift a struggling housing market.
The average rate for 30-year fixed loans this week was 4.56 percent, down from 4.57 last week, mortgage company Freddie Mac said Thursday. That's the lowest since Freddie Mac began tracking rates in 1971.
The last time home loan rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years.
The rate on the 15-year fixed loan dropped to 4.03 percent, down from 4.06 percent last week and the lowest on records dating back to 1991.
Rates have fallen since the spring. Investors worried about the European debt crisis have shifted money into the safety of Treasury bonds. That has forced those yields down. Mortgage rates tend to track yields on Treasury debt.
However, low rates have yet to spark home sales and refinancing activity remains moderate.
Sales of previously occupied homes fell in June and are expected to keep sinking. The National Association of Realtors said Thursday that last month's sales fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million.
The housing market stalled after federal tax credits for homebuyers expired at the end of April. Home sales have dropped off, homebuilder confidence has waned and consumer sentiment is in the dumps.
It's unlikely low mortgage rates will bolster housing. Rates have hovered near historic lows for more than a year, so many people have already taken advantage of them to buy or refinance a home.
And many of those who haven't wouldn't qualify for a loan. They either owe more than their homes are worth, have shaky credit or have lost their jobs.
To calculate the national average, Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
Rates on five-year adjustable-rate mortgages averaged 3.79 percent, down from 3.85 percent a week earlier. Rates on one-year adjustable-rate mortgages fell to an average of 3.70 percent from 3.74 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Mac's survey averaged 0.7 a point for 30-year, 15-year and 1-year loans. The average fee for 5-year loans was 0.6 of a point.
NVR POSTS PROFITS
NVR Reports $71 Million Profit
Source: BIG BUILDER News
Publication date: July 22, 2010
By BB Staff
NVR Inc., Reston, Va. (NYSE:NVR) early Thursday reported a profit of $71.2 million for the second quarter ended June 30, of $71.3 million ($11.13 per diluted share), an increase of 72% over last year's second quarter, beating handily the consensus Wall Street estimate of $8.62.
Revenues for the quarter totaled $964.5 million, a 54% increase from the comparable 2009 quarter.
NVR was the first public builder to report this earnings season, and although the company neither provides earnings commentary nor guidance to investors, the news, along with a general updraft in the markets, appeared to touch off a small rally in the builder stocks pre-open. NVR shares were up 2.6% at $650.18 in early trading on the NYSE.
Closings skyrocketed 63% from last year's quarter to 3,345 units as buyers got in under the June 30 deadline for qualification for the home-buyer tax credit. The average settlement price fell 5.2% to $283,000.
New orders decreased 6% from last year's second quarter to 2,559 units this quarter. The average new-order price, however, increased 5% to $309,600.
Backlog was down 16% to 3,766 units and backlog value down 11% to $1.19 billion when compared to the same period last year. The average backlog price also increased, from $296,200 last year to $315,300 at quarter's end 2010.
Community count increased to 373 from 356 at the same time last year. Lot count also increased, from 44,300 at June's end, 2009 to 47,500 at the close of this year's quarter.
Home building revenues totaled $947 million, 55% ahead of the year-earlier period. Gross profit margins decreased to 18.5% in the 2010 second quarter compared to 19.3% for the same period in 2009. SG&A was up 26.3% to$69.1 million.
Source: BIG BUILDER News
Publication date: July 22, 2010
By BB Staff
NVR Inc., Reston, Va. (NYSE:NVR) early Thursday reported a profit of $71.2 million for the second quarter ended June 30, of $71.3 million ($11.13 per diluted share), an increase of 72% over last year's second quarter, beating handily the consensus Wall Street estimate of $8.62.
Revenues for the quarter totaled $964.5 million, a 54% increase from the comparable 2009 quarter.
NVR was the first public builder to report this earnings season, and although the company neither provides earnings commentary nor guidance to investors, the news, along with a general updraft in the markets, appeared to touch off a small rally in the builder stocks pre-open. NVR shares were up 2.6% at $650.18 in early trading on the NYSE.
Closings skyrocketed 63% from last year's quarter to 3,345 units as buyers got in under the June 30 deadline for qualification for the home-buyer tax credit. The average settlement price fell 5.2% to $283,000.
New orders decreased 6% from last year's second quarter to 2,559 units this quarter. The average new-order price, however, increased 5% to $309,600.
Backlog was down 16% to 3,766 units and backlog value down 11% to $1.19 billion when compared to the same period last year. The average backlog price also increased, from $296,200 last year to $315,300 at quarter's end 2010.
Community count increased to 373 from 356 at the same time last year. Lot count also increased, from 44,300 at June's end, 2009 to 47,500 at the close of this year's quarter.
Home building revenues totaled $947 million, 55% ahead of the year-earlier period. Gross profit margins decreased to 18.5% in the 2010 second quarter compared to 19.3% for the same period in 2009. SG&A was up 26.3% to$69.1 million.
Tuesday, July 20, 2010
Fulgor Milano Launches Italian Appliance Line In The United States
Backed by Parent Company Meneghetti, Fulgor Milano Introduces Sexy Line of Designer Cooktops and Wall Ovens to U.S. Market. You now have a new choice for adding beauty and cooking prowess to the kitchen, with the inauguration of the Fulgor Milano line of genuine Italian-designed cooktops and wall ovens built specifically for the American market. Italy is famed for its traditions of family, cooking, and design, and all of these elements are harmoniously united in the elegant and beautiful Fulgor Milano products—and all backed by the quality and reputation of parent company Meneghetti S.p.A., which brings over 50 years of experience as the maker of more than 1,000 high-end kitchen appliances for the world's top brands.
Monday, July 19, 2010
Current News from NAR...
With these issues addressed, I asked NAR Chief Lobbyist, Jerry Giovaniello, what Congress is likely to do when it returns from recess later this month. He mentioned three issues that we are watching closely.
First, we have been keeping an eye on financial reform legislation. We succeeded in getting a more flexible option for seller financing in that bill. Additionally, the bill would effectively end the Home Valuation Code of Conduct, opening the door for new regulations for appraisals.
Rest assured that NAR would have a seat at the table on those discussions.
Currently lawmakers are trying to resolve other differences in the financial reform legislation. We hope to see a final bill when Congress returns from the break.
Second, NAR is still working on restoring the 502 single-family rural housing loan guarantee program. There is a bill that is currently in conference between the House and Senate that would provide funding. When that bill passes, the program will be restored through the end of the fiscal year.
Third, we are monitoring the debate on carried interest, which affects commercial real estate. There was a proposal in a recent bill that would tax carried interest at a regular income tax rate, instead of its present capital gains tax rate. Now is NOT the time to raise taxes on real estate, and especially not on commercial real estate, which continues to struggle.
We’re making great progress, but we have a lot left to do.
I ask all of you to visit the Government Affairs page on Realtor.org and stay on top of the issues that are important to your businesses.
First, we have been keeping an eye on financial reform legislation. We succeeded in getting a more flexible option for seller financing in that bill. Additionally, the bill would effectively end the Home Valuation Code of Conduct, opening the door for new regulations for appraisals.
Rest assured that NAR would have a seat at the table on those discussions.
Currently lawmakers are trying to resolve other differences in the financial reform legislation. We hope to see a final bill when Congress returns from the break.
Second, NAR is still working on restoring the 502 single-family rural housing loan guarantee program. There is a bill that is currently in conference between the House and Senate that would provide funding. When that bill passes, the program will be restored through the end of the fiscal year.
Third, we are monitoring the debate on carried interest, which affects commercial real estate. There was a proposal in a recent bill that would tax carried interest at a regular income tax rate, instead of its present capital gains tax rate. Now is NOT the time to raise taxes on real estate, and especially not on commercial real estate, which continues to struggle.
We’re making great progress, but we have a lot left to do.
I ask all of you to visit the Government Affairs page on Realtor.org and stay on top of the issues that are important to your businesses.
Sunday, July 11, 2010
Conserve Energy, Save Money...
Saturday, July 10, 2010
New Comunities in Northern Virginia
Wednesday, July 7, 2010
8 FREE Ways to get more referrals.....
Here are eight ways to elicit (not solicit) referrals:
1. Offer a service that is unique. Think about your specialty -- what type of report or article could you write that would help you stand out? What type of signature piece could you develop that is unique to you? Take the time to write it -- and then put it on your website, hand it out at open houses, and e-mail it to your clients. Show them that what you do is "one step ahead" of everyone else.
2. Be reliable, even if you can't be unique. Make it your mission to be the most reliable person you know. You call people back and answer e-mails quickly, you go above and beyond by passing on leads to others (what goes around comes around), you are always on time (better yet, early), and, most important, you do what you say you are going to do!
3. Truly understand and convey your specialty to potential referrers, such as current clients, colleagues and others in complementary businesses, and even competitors with whom you are friendly. They will be aware of the very specific problems that you aim to solve.
4. Build relationships with industry colleagues. This is a no-brainer, but make sure it is part of your marketing plan to attend one face-to-face networking event each month. Mixing that in with a strong social media plan is a great way to network and build referrals. Once you get a new contact, treat that person like gold! Send a personal note or e-mail -- do something to help them before you ask for help. Make your contact with them 95 percent about building rapport and 5 percent or less about "pitch."
5. Be easy to find and contact. Do the obvious: Have business cards handy for customers, run a search engine-friendly website, and engage in social media. Put your e-mail and phone number all over your website -- not just a "contact me" form! List contact information prominently on every social network, on your e-mail signature and your website, making it simple and fast for customers to get in touch with your business.
6. Be an approachable expert. Stay on top of industry trends, but spend just as much effort talking with potential clients, learning about their needs, and gaining new insights from others. Make it a point to attend a few training events a year. Look to your local and state associations for this!
7. Find ways of doing business with those outside of your original client target. Expanding your horizons may mean adding service options that you provide for a client or going outside your regular community for a listing.
8. Thank everyone who attempts to make referrals (not just the ones who produce them), and let them know how much a referral base really means to the success of your business. Showing gratitude will encourage referrers to keep spreading the word. Send a personal note -- not an e-mail.
Do you have tips on generating referrals? Leave us a comment below!
Katie Lance is the marketing manager for Inman News. Future of Real Estate Marketing is a part of Inman News.
Tuesday, July 6, 2010
Thursday, July 1, 2010
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