On April 1st many changes will take place in the mortgage industry. The costs to the consumer to secure financing will increase and the mortgage process will become more cumbersome and lengthy. These repercussions will occur due to lack of communication by the Fed with regards to their overall objective of this legislation. There is some disregard for the mortgage industry by the Fed, who is unwilling to offer any guidance with regards to how to implement the new rules.
New legislation has been approved and will be enacted on April 1st. It is important that consumers understand what these changes mean for them specifically the rule limits the flexibility of loan officers with regards to their compensation. Limits to compensation will ultimately increase costs passed on to the consumer.
With the volatility within the mortgage industry and a fragile housing market now may possibly be the worst time to further enact change. The changes that are coming will make it costlier and harder for consumers to get mortgages. These changes have already forced many of the smaller mortgage companies out of business. The new legislation will take away the ability for many mortgage companies to remain competitive as well as further restrict access to credit. These changes give large banks an unfair advantage, which they have blueprinted and lobbied in order to take advantage of these changes.
The National Association of Mortgage Brokers (NAMB) has sought an injunction through a lawsuit against the Fed. They are actively seeking a temporary restraining order until they can get clarification as to what specifically the new laws do to help customers.
For even more information, you can contact Jason Kilduff from Ward Kilduff Mortgage at 860.658.7100 or Jason@wardkilduff.com.
EARTH DAY 2011 QUICK TIPS BY CHRISSY RACHO
April 22, 2011 marks the 41st Earth Day. The media is flooded with tips to be greener, some large and some small. So we decided to compile a list that of very easy things you can do to make a difference for the environment. Taking steps to be more environmentally aware certainly has become more popular, but there is always more we can do.
1.) Switch to green power: Here at CRE, through CL-P we now source our electricity through Viridian. It is all still run through the utility company as usual, but you can opt to choose their greener options for energy. Call your utility company and find our your options!
2.) Use your energy wisely: Be sure you turn off lights (make it a habit), open your curtains and embrace natural light and unplug unused appliances and chargers.
3.) Get gardening: Plant basics that you enjoy during the warmer months; you would be surprised how many plants you can grow in pots such as tomatoes, herbs, cucumbers, peppers and so on! You do not need to build a large garden to enjoy your own goodies. Collect rainwater and use it to water your indoor and outdoor plants!
4.) Reduce chemicals: This is a very widespread tip. This can range from your multi-vitamins to your cleaning supplies. With a few extra minutes, you can source many all natural products easily. Reduce the chemicals you put in your body and what you use in your home. Our favorite brand of all natural products is CT local, Maid Organic. Visit www.maidorganic.com!
5.) Think about where you buy: Source as many products (including your food) as locally as possible. Think twice before buying products from China...and do your research. You can find many new products semi-locally. The less your products have to travel to you, the better for the environment!
Just remember to do what you can and open your mind to new ideas, techniques and products!
WHERE IN THE WORLD...AUSTIN, TX
Austin is the capital city of Texas. It is located in central Texas and is the fourth largest city in Texas. It is also the 14th most populous city in the United States.
Austin boasts a diverse culture and a plentiful downtown area. It is also known for being a center for technology, with the University of Texas at Austin and it’s thousands of yearly graduates in the fields of engineering and computer science. Austin is also the World Headquarters for Whole Foods Market.
The average temperature in April is between 60 and 80 degrees.
In Austin, the average listing price is $424,539 and the median sales price is $205,649. The average price per square foot is $126 which is up 27% from this time last year. Popular Neighborhoods include Downtown, West Oak Hill, Barton Hills and South River City.
Looking to buy or sell in the Austin Area? Keller Williams Headquarters is in Austin, so contact us today and we can put you in touch with an Austin expert from the KW Family!
LOCAL EVENTS OF INTEREST
April is National Humor Month….so be sure to laugh and make others laugh!
April 8: “Second City Comedy Revue” Paul Mellon Arts Center, http://www.choate.edu/
April 10, 16, 17, 22, 23: “Easter Bunny Train Rides” Danbury Railway Museum, http://www.danburyrail.org/
April 10: “History of the Giant Hike” Sleeping Giant State Park, Free, http://www.spga.org/
April 16: “Pups to Partners: Fidelco Open House” Bloomfield, Free http://www.fidelco.org/
April 17: “Gardening Sunday” The Children’s Museum, http://www.thechildrensmuseumct.org/
April 22: “Earth Day Celebration” Wesleyan University, Free, www.wesleyan.edu/cfa
April 26, 30: “Historic Bars: Working Farms: Bus Tour” Simsbury, http://www.fvva.org/
April 30: “Flower Power” Wadsworth Atheneum, http://www.wadsworthatheneum.org/
Congratulations to Bob White and Josh & Jilani Scherer on your closings!
Thank you to Ken Potter & Deb Horton for your referrals!
Please remember to visit our Facebook Fan Page at www.CREFanPage.com for more even more information!
Do not forget about the 2011 Referral Contest! Provide Chloe Real Estate with referrals in 2011 and you will be entered to win a trip to New York City!
