BOYKINSLIST.COM / Jahmal Boykin, Lic. Real Estate Broker / VOiCE REALTY GROUP, LLC

2016-01-26T14:52:00.001-05:00

Pool Homes For Sale

please click on the link below to view properties...

- View Homes For Sale -

2016-01-15T10:11:00.001-05:00

Florida tops list of most-desirable states

For the first time since 2001, Florida – the nation's 27th state – is back on top as Americans' most desired state to live.

When asked where they would most like to live (excluding their current state), Florida landed at the top of the list. Overall, sunshine and waterfront acreage were consistent themes among the most popular states, with California (2) and Hawaii (3) rounding out the top three. However, non-beach states Colorado (4) and New York (5) closed out the top five states.

This year's top five were, for the most part, also top-five honorees the last time this question was asked in 2013, Harris reports. The sole exception is New York, which edged into the top-five after a sixth place showing. Texas, meanwhile, dropped out of the top five to No. 6.

The remaining 9 states on the "top 15" list include diverse geographies, though most do fall within a few general categories:

The coasts are well represented: Along with Florida, the Carolinas – North (7) and South (12) – and Georgia cover most of the southeastern United States beachfront. Meanwhile, Oregon (9) and Washington (14) make for full west coast coverage (when combined with California). Perhaps for some it's not the coast but the warmth, which takes precedence, as landlocked-but-sunny states Arizona (8) and Tennessee (10) also make the list.

Many states have both admirers and detractors, according to Harris.

California may be 2nd on the list of states Americans would like to live in, but it also tops the list of states where Americans would least like to dwell. New York and Alaska may both be top 15 performers when Americans say where they would like to live, but they also round out the top three states where Americans would not want to live (2 and 3, respectively). Mississippi (4) and Texas (5) complete the top 5 for the dubious list, with Alabama (6), Florida (7), Illinois (8), Michigan (9) and the District of Columbia (10) completing the top 10.

Favorite and least favorite cities

Americans continue their love/hate relationship with New York City, which has topped The Harris Poll's list of cities where Americans most want to live for well over a decade – but it also tops the list of cities they'd least like to live.

California and Florida are well represented among the top 10 most desired cities, with San Diego, Los Angeles and San Francisco nabbing the 2nd, 4th and 6th spots for the Golden State, while Miami and Orlando bring the 5th and 10th spots home to the Sunshine State. Denver, CO (3) fills in the lone gap in the top five, while Honolulu, HI (7); Atlanta, GA (8) and Seattle, WA (9) fill out the rest of the top 10.

The top three cities Americans would least want to live in have remained the same since this question was first asked in 2010 with New York, followed by Detroit (2) and Los Angeles (3). Chicago repeats in 4th place, while Dallas, Texas (5) rounds out the top five. Miami (6); San Francisco (7); Houston (8); Washington, D.C. (9) and Las Vegas (10) complete this less desirable top 10 list.

The Harris Poll surveyed 2,232 U.S. adults online between Nov. 11 and 16, 2015.

2016-01-15T10:09:00.001-05:00

Apartment rents still skyrocketing

Apartment rents surged 4.6 percent in 2015 – the largest gain since before the Great Recession. It's a good time to be a landlord but not a renter, according to the latest report out by Reis, a real estate research firm.

Apartment rents nationwide now average nearly $1,180, which is up from $1,125 a year ago, Reis reports.

The fourth quarter "wrapped up an incredible year for the apartment market, probably the strongest we've ever seen," says Jay Denton, senior vice president of analytics at Axiometrics Inc., an apartment research company that also released a report showing rents rose 4.7 percent in the fourth quarter in a year-to-year comparison.

For the past six years, rents have been on the rise. Increases have ranged from 2.3 percent in 2010 to about 4 percent in the last two years. The higher rents edge up, the more difficult it is for young adults to become homeowners. As a result, the number of first-time homebuyers in the real estate market has dipped to a three-decade low, according to the National Association of Realtors®.

The apartment market may be showing some signs of peaking, however, as a greater supply of apartment buildings hit the market. Vacancy rates edged up slightly in the fourth quarter to 4.4 percent compared to 4.3 percent the previous quarter. The increase in competition is causing landlords to limit the amount that they can raise prices, says Bob DeWitt, president and chief executive of GID, a Boston-based apartment owner and developer.

"We certainly believe that over the next two or three years, rent trends are going to slow and in some places they may actually back up," he told The Wall Street Journal.

Some hot apartment markets are already showing signs of slowing. For example, rents in the San Francisco area rose 7.6 percent year-over-year in the fourth quarter, compared with 11.8 percent in the third quarter, according to Axiometrics. Also, rents in San Jose, Calif. rose 7.1 percent compared with 9.9 percent in the third quarter.

Source: "U.S. Apartment Rents Rose the Most Last Year Since Recession, Survey Says," The Wall Street Journal (Jan. 6, 2016)

2016-01-15T07:59:00.001-05:00

5 things sellers should never say to buyers
A seller's goal is to sell, but sometimes they say things that short circuit the process. According to a recent survey conducted by realtor.com, the following are among the top comments sellers should keep to themselves, according to Realtors®:

1. "Our house is in perfect condition."
"The home inspection may reveal otherwise, and, as a seller, you don't want to wind up putting your foot in your mouth," says Cara Ameer, a real estate professional with Coldwell Banker. "There simply is no such thing as 'perfect condition.' Every house, whether it's brand new or a resale, has something that needs to be fixed, adjusted, replaced or improved upon."

2. "We've never had a problem with …"
Sellers need to be careful to not utter any fibs, even seemingly small ones, when selling their home. "You're setting yourself up for potential liability," Ameer says. "You may not even be aware of the problem at first, but it could translate into an embarrassing moment upon inspection."

3. "It's been on the market for …"
Sellers should never mention how long the home has been on the market with potential buyers, says Pam Santoro, a real estate professional with Berkshire Hathaway HomeServices. The information is available on the home's information sheet for buyers to see for themselves. Sellers who wish to highlight this may find buyers believing they can get cheaper since it's been on the market longer – or buyers may wonder what's wrong with the home if it's lingering on the market.

4. "We spent a ton of money on X, Y, and Z."
Some sellers think the ton of money they spent on a home upgrade will be equally desirable to homebuyers – or that they'll get that money back at resale. "The buyer doesn't care whether you spent $10,000 or $100,000 on your kitchen," says Ameer. "They are only going to offer what they feel the home is worth in relation to area comparable sales."

5. "I'm not taking less than X amount for my home."
"If you send a message that you're inflexible or not open to negotiating, it may not invite buyers to even try to work out acceptable price and terms, as they will feel defeated from the start," says Ameer. "Word may spread that you have this sentiment as a seller and people may start to avoid the house."

Source: "6 Things You Should Never Say When You're Selling Your Home," realtor.com® (Jan. 12, 2016)

Wishing you all...

2015-12-30T08:36:00.001-05:00

2015-11-20T10:50:00.001-05:00

7 property descriptions that concern buyers

NEW YORK – Nov. 2, 2015 – Some words in listing ads can send red flags to potential buyers. CBS' MoneyWatch recently asked five real estate professionals to weigh in. Here are the words they say buyers should watch out for:

1. "As is." Sellers list a home "as is" when they don't want to do any of the needed repairs.

"They feel they're putting their best price out there, and they don't want to get stuck with a buyer nickel-and-diming them for every repair," says Deb Tomaro, a real estate professional in Bloomington, Ind. However, buyers may have a tougher time getting a bank to agree to a mortgage with an "as is" home.

Also, seemingly small fixes – like an unfinished floor or broken window – may become deal-breakers for the bank. Buyers would still be wise to have a property inspection and try to negotiate with the sellers on some repairs, even for an "as is" home, Tomaro says.

2. "All work has been done for you." "That generally means it's a flipper," says Elizabeth Weintraub, a real estate professional in Sacramento, Calif., who added buyers may also want to be leery of phrases like "total remodel" and "completely rehabbed."

Investors may purchase a home at a bargain price below market value and then remodel and try to resell it for a profit. "They make cosmetic changes as quickly and cheaply as possible," Weintraub says. "All they have to do is put in stainless steel appliances and granite countertops, and someone is going to want to buy it."

Buyers should make sure that shiny facades aren't hiding serious defects, such as mold, water damage or an unstable foundation.

3. "Cash transactions only." A listing may specify that a sale will be cash only, which could signal there could be something majorly wrong with the home. "That's one of the most useful real estate lingo things [to watch for]," says Jon Boyd, an Ann Arbor, Mich., real estate professional. "This means there could be an issue with the house that may make it difficult to qualify for a traditional mortgage."

4. "Vacant." You might not see this written in the property description, but an unfurnished home in the property photos online likely means the home is vacant, which could also send a warning signal to buyers – and buyers may be wise to find out how long the home has stood vacant.

Homes unoccupied for a long time could develop severe maintenance problems, such as burst water pipes or mold. Boyd recommends buyers get a thorough inspection done and have the utilities turned on to check for issues before buying.

5. "TLC." "I think 'TLC' is probably the most commonly used description for when [sellers] don't want to say it's a fixer," says Weintraub. "When they say it just needs a little TLC to make the home shine, that means it needs a complete remodel."

6. "Land lease buildings." In larger cities – such as New York – this may be an item a buyer will see, which indicates that the building is built on leased land. That means when a building's lease expires, the owner will have to negotiate a new one and that could mean higher prices for everyone involved. Monthly assessments – maintenance fees that apartment owners pay the building – could escalate.

"Everyone's monthly payments skyrocket, and they have to reduce the purchase price so buyers can afford those payments," says Brad Malow, a New York area real estate professional and founder of BuyingNYC.com. That could make the place tougher to sell later on.

7. "Bring your own toolbox." A listing that uses this phrase may sound like just a few cosmetic fixes are needed, but it could signify much larger projects.

"There was one house in my market that said to bring your own toolbox, and it had $15,000 in basement repair projects," Boyd says. "Those kinds of tools are not normally in anybody's toolbox."

Source: "10 Signs of a Scary Real Estate Listing," CBS MoneyWatch (Oct. 27, 2015)

2015-11-20T10:46:00.003-05:00

Don’t Wait—Beat the Crowds and Buy This Winter

Now that the U.S. has regained its job-creation mojo, as the October employment report showed, the demand for housing is only going to grow. After all, when people have jobs they can break off and form new households—ditching the roommates behind or finally moving out of Mom and Dad’s basement—and that’s what fundamentally drives home purchases. Most of the households created over the past two years have been renting households, but based on U.S. Census data for the third quarter of this year, it appears that homeownership has started to recover.

This especially makes sense now that it is cheaper to own than rent in more than three-quarters of the counties in the U.S. And it’s not getting better— rents are rising year over year at twice the pace of listing prices. Meanwhile, mortgage rates remain at near record lows but appear poised to increase over the next year. And home prices are rising, too.

So if you qualify for a mortgage and have the funds for a down payment and closing costs—and if you intend to live in a home long enough to cover the transaction costs of buying and selling—you will be better off financially if you buy as soon as you can. After all, if you are tired of your current home now, you won’t feel better about it in six months.

2015-11-20T10:31:00.003-05:00

5 Speedy Ways to Come Up With a Down Payment

The best way to come up with a down payment for a home: save for one, of course! But sometimes you’re in a hurry. Maybe your dream house just popped up on the market, or you’ve simply had it with being a renter. Whatever the reason, you’re ready to buy a house, now. But while your credit is good and your career is stable, you still need to come up with that big chunk of change for a down payment.

Never fear: There are plenty of ways to amass a sizable down payment fast. Check out these tactics, along with their pros and cons.

1. Dip into your 401(k)

If you’ve been socking away money in your 401(k), it is possible to borrow from that for a home loan—and get that cash in hand fast.
“Most 401(k) plans allow you to borrow up to 50% of the vested balance, or up to $50,000, and it takes about a week,” says Todd Huettner, owner of Huettner Capital, a residential and commercial real estate lender in Denver.

But it will cost you: If you take funds out of your 401(k) early—that is, before you’re 59½ years old—you’re going to take a 10% penalty on that withdrawn money. And it counts as gross income, which can bump you into a higher tax bracket.

2. Crack your IRA

Digging into your IRA usually carries the same 10% penalty of breaking open your 401(k) piggy bank, with one major difference: The penalty doesn’t apply to first-time home buyers. And unlike a 401(k), you don’t have to repay what you take out of an IRA. However, the withdrawal is still taxable. Plus there’s the matter of not repaying yourself, which can hurt your long-term retirement. So if you take out a sizable chunk, restoring this nest egg to its former level will take you many years.

3. Hit up your boss
Let’s get real: You don’t want to stroll into your boss’ office and demand help buying your house. But you can ask if your company has an employer-assisted housing program. Think about it: Companies hate employee turnover, so what better way to keep you around than pitching in to help you buy a home? It’s a win-win: Home loans are often low- or zero-interest and are usually structured to be forgivable over a period of time, often five years, which further encourages employees to stay put. The downside? Not all employers offer it. Hospitals and universities most often do, so be sure to ask to avoid overlooking this ready source of financial assistance.

4. Explore state and city programs

Local assistance programs abound to help you scratch up cash for a down payment. Offered by either your state, your city, or nonprofits, these programs often partner with banks, who hope to gain clientele they might pass over otherwise: Bank of America, for instance, recently launched a searchable database of local programs. Wells Fargo’s partnership with NeighborhoodLIFT offers down payment assistance up to $15,000.

The catch? You’ll need to qualify. For NeighborhoodLIFT, for instance, your household income has to be no more than 120% of the median in your area.

5. Get a gift from family or friends

Understandably, many home buyers turn to their family for help buying a home, and for good reason: There are no limits on how much a family member can “gift” another family member, although only a specific portion can be excluded from taxes ($14,000 per parent).

But it’s not just as easy as that. Gifters, even family, will need to provide paperwork in the form of a gift letter. And if the gifter is a friend, it gets even more complicated. For example, you’ll have to wait about 90 to 120 days before you can use any of those funds.

2015-11-20T10:28:00.002-05:00

If You Don’t Price Your Home Right, You’ll Really Pay

When it comes to selling your home quickly and (hopefully) for a sweet profit, setting the right asking price from the get-go is key to your success. Set the price too high? The place will stagnate on the market and force you into price cuts, possibly multiple ones. Set it too low? You’re kissing off money that could’ve gone into your pocket.

So how do you hit that sweet spot of an asking price? Well, for starters, avoid these common mistakes!

Mistake No. 1: Basing your price on how much you paid

Even in lackluster markets, homeowners can’t help but hope they’ll make a big profit when they sell—and that’s why many nudge their price ever higher, regardless of real-world demand. But the harsh reality is this: Buyers could care less how much you paid. All they care about is getting the best deal possible in today’s market—and if you aren’t willing to accept that and swallow a potential loss, they’ll take their money elsewhere. Another thing buyers care not a whit about: how much you owe on the mortgage. So, sadly, that shouldn’t factor into your asking price, either. It’s a cruel world. Deal with it.

Mistake No. 2: Expecting to get reimbursed for renovations

So you overhauled the kitchen or put a swimming pool out back, and it cost you a bundle. It’s logical to think that you can pass that entire expense along to buyers who’ll be enjoying the fruits of your labors. Right? Well, not exactly. Remodeling projects offer an average 62% return on investment, according to Remodeling magazine, which is why it’s a good idea to skip major cosmetic remodels right before a sale. This is particularly true if you’ve got wild or exorbitant tastes that buyers might not share.

“Some people have very expensive taste when they put in renovations, but the neighborhood doesn’t warrant the price,” says Lauren Sheehan, an agent with Windermere Real Estate in Portland, OR.

Mistake No. 3: Leaving too much room to negotiate down

The days of extreme lowball offers have gone the way of fax machines, Atkins diet plans, and jeggings. So pricing your property too high—thinking you’ll leave prospects with plenty of room to negotiate—may quickly scare away legitimate offers. Plus, buyers who search for homes online (translation: pretty much all of them) often screen by price, so they may not even see an overpriced property.

Instead, aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.

Mistake No. 4: Not shopping your competition

While you might assume your home is more or less the same as others on your block, small differences can add up to big discrepancies in price. That extra half-bath in the home next door or that fireplace in your living room should all be taken into account. So spend some time perusing local listings and attending open houses to figure out how your home stacks up.

“Home sellers need to understand the positives and negatives of their house and price accordingly,” says Scott Tamkin, an agent with Nest Realtors at John Aaroe Group in Los Angeles. That said, don’t make the next mistake…

Mistake No. 5: Basing your home on a neighbor’s asking price

Just because your neighbor is asking for a certain price on his property doesn’t mean he’s going to get it. And it may not be due to delusion, either.

“Your neighbor may not really need to sell and may be less motivated,” says Danielle Moy, a real estate agent with Coldwell Banker in Chicago. “Those properties may sit on the market for a long time.”

A far better benchmark if you want to sell your home is to look at the prices on recently closed sales. These are available through a comparative market analysis from a Realtor® and will give you a better picture of where home values are going in your neighborhood.

Mistake No. 6: Getting emotionally involved

All sellers think their home is worth more than it is. All of them. Just because you raised a beautiful family in your house doesn’t mean potential buyers will see themselves doing the same, or that they’ll pay a premium for the opportunity to do so.

Mistake No. 7: Failing to quickly and decisively reduce

If your home goes several weeks without an offer, it’s likely priced too high, particularly if homes in your area have a relatively short average days on market. Rather than making a small price cut and risking having to do it again in a subsequent month (while your listing gets older and staler), make a large and decisive price cut—$10,000 or more—that will attract buyer attention and show you’re serious about selling.

2015-11-12T12:10:00.000-05:00

Why do people move – and what do they want?

LONDON – Nov. 11, 2015 – Why do people choose to live where they do, and how do their priorities and housing trade-offs shift over time? Using data from a recent study by the Centre for Cities, a research and policy institute based out of London, CityLab highlighted some key insights into the motivations behind where people choose to live. The top reasons overall for choosing where to live aren't surprising: The cost of housing (at 28 percent), proximity to family and friends (28 percent), the size and type of housing (22 percent), and proximity to work (21 percent).

However, Richard Florida, co-founder and editor of CityLab, says that specific housing decisions vary significantly depending on age. He says people generally make three big moves in their lifetime, and their priorities and trade-offs are different at each stage. Florida says that real estate agents should keep the age demographics in mind when highlighting the value of each listing to make sure descriptions match their priorities.

Three main types of moves:

1. The post-college, career-minded 20-something move
Younger adults 25-34 years of age tend to make housing and moving decisions based on their career – 31 percent said that being close to their job or their partner's job was a priority. The cost of housing also counts, with 30 percent saying it's a big factor. While much has been written about younger buyers' desire to be close to restaurants, bars and cultural amenities, however, only 9 percent considered those factors important to a home purchase decision. And compared to other groups, access to green space and environmental factors weren't as important.

2. Starting a family/mid-30s move
People in the 35-54 age group – many times focused on raising a family – were also very concerned with the cost of housing. Unlike their younger counterparts, though, they placed high value on the size and style of housing (21 percent), the safety and security of the neighborhood (17 percent) and access to good schools (13 percent).
Twenty-five percent said it's important to live near family and friends. Few in this demographic ranked access to restaurants and cultural facilities as important, however.

3. Empty-nester and retirement move
Thirty percent of the 55-and-over demographic listed access to green space and nature as their top priority. The size and type of housing was also important (29 percent), and nearly 20 percent said they wanted to be close to their jobs. Living in a neighborhood near family was also important (27 percent), as well as living in a safe area (at 17 percent).
"While some of us are inherent urbanites or suburbanites, our preferences change over the course of our lifetimes," says Florida. "Many young people may prefer big cities, with their vibrant job and dating markets, and abundant amenities and things to do. Those with families prioritize bigger homes with better schools and more parks and green space. Ultimately, we look for the cities and neighborhoods that fit us best at the time."

Source: "Why People Live Where They Do," CityLab (Nov. 9, 2015)
© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

2015-11-12T12:06:00.001-05:00

More homebuyers bypass banks for loans

NEW YORK – Nov. 9, 2015 – Homebuyers increasingly turn to independent mortgage companies for their loans, rather than traditional banks. According to data from the Federal Reserve, nondepository independent mortgage companies originated 47 percent of completed home-purchase loans in 2014 and 42 percent of refinance loans – up from 43 percent and 31 percent, respectively, from 2013. That also represents the largest share of the mortgage market held by non-banks since 1995.

Nonbank lenders include companies like Quicken Loans (which is now the second largest retail mortgage lender nationwide, behind Wells Fargo) and Loan Depot, and Finance of America Holdings. Blackstone Group's Finance of America Holdings is expected to soon become one of the nation's largest nonbank lenders after recently acquiring Gateway Funding Diversified Mortgage Services, Pinnacle Capital Mortgage, and some assets and operations of PMAC Lending Services Inc.

The largest majority of nonbank mortgage volume still comes from conforming mortgages, backed by Fannie Mae, Freddie Mac and the Federal Housing Administration. However, nonbank lenders are also trying to increase their market share of jumbo loans (mortgages above conforming loan limits of $417,000 in most areas and $625,500 in high-priced markets), Guy Cecala, CEO and publisher of Inside Mortgage Finance, told The Wall Street Journal.
Quicken Loans, for example, is allowing some jumbo mortgage borrowers with consistent income documentation to complete their transaction fully online. "In many cases, you don't have to talk to a loan officer," says Bob Walters, chief economist for Quicken Loans.

Some nonbank lenders are touting their speed as an advantage over traditional banks. For instance, company officials with Movement Mortgage, which operates in 42 sates and originated $4.24 billion in mortgages in 2014, tell conforming loan borrowers that they are able to close mortgages in seven business days and jumbo borrowers in only a few days more – even with new mortgage disclosure rules that took effect last month.

While nonbank lending is catching on, bank officials say they hold one big advantage: They tend to be able to offer lower rates and closing costs to customers based on length of account history and amount of holdings.

Source: "Home-Loan Borrowers Bypass the Banks," The Wall Street Journal (Nov. 4, 2015)
© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

2015-11-12T12:00:00.000-05:00

Freddie Mac warns buyers of 3 credit scams

WASHINGTON – Nov. 10, 2015 – Freddie Mac issued a warning for homebuyers about scams that entice them by promising to raise their credit score in exchange for money.

"Who doesn't want the highest credit score possible to garner the most-favored terms?" Freddie Mac notes on its website. "For many Americans with consumer credit negatively impacted by the housing crisis and fluctuating economy, it's easy to be lured by the promise of a raised credit score," Freddie Mac says. "Schemes that falsely raise credit scores will land borrowers in scalding hot water – as well as cost you time and money combating both origination- and servicing-related fraud."
Freddie Mac highlighted three types of common fraud schemes to raise credit scores:

1. Disputing credit with credit bureausA new program with FICO – called FICO Score Open Access for Credit & Financial Counseling – was created to help borrowers who have credit management problems by providing FICO Scores along with credit education material to help consumers understand credit scoring and learn more about financial management. However, some fraudsters are using the program in a scam.
"(Scammers) may direct a borrower to contact credit repositories repeatedly to dispute previously defaulted debt," Freddie Mac warns. "The fraudster hopes the creditor will miss responding to one of the disputes and the defaulted debt will disappear temporarily, triggering a jump in the borrower's credit score. The borrower may qualify for – and close on – a new mortgage before the credit report correctly reflects the defaulted debt and the borrower's true credit score."

2. Claiming identity theft falselySome companies encourage buyers to falsely claim identity theft on their loan application in order to have debt removed from their credit report.
"Some borrowers who falsely claimed identify theft have gone as far as providing affidavits of identity theft and police reports," Freddie Mac writes. "Of course, lenders take these claims seriously and investigate. In some instances, they discover that the 'police report' is fake, never actually filed, or from a police department that doesn't exist."

3. Misusing credit protection numbersUsing a credit privacy number – an alternative for a Social Security number most commonly used by celebrities and politicians to hide previous credit issues – can be a dangerous move.
"Some consumers with poor credit acquire a CPN with the intent of creating a new, clean – and misleading – credit profile," Freddie Mac notes. "CPNs were not created for this purpose, and mortgage loans originated using a CPN are ineligible for sale to Freddie Mac. Borrowers who use a CPN with the hope of leaving their bad credit histories in the rear view mirror are in for a rude awakening."
As the Federal Trade Commission bluntly points out, "By using a stolen number as your own, the con artists have involved you in identity theft,' for which you may face legal trouble."

Source: "Freddie Mac Issues Credit-Scam Warning to Potential Home Owners," HousingWire (Nov. 6, 2015)
© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

2015-11-12T10:33:00.003-05:00

4 reasons real estate agents as popular as ever

WASHINGTON – Nov. 11, 2015 – The National Association of Realtors^®' (NAR) 2015 Profile of Home Buyers and Sellers indicates that 89 percent of sellers used real estate agents this year – an increase from 88 percent in 2014.
Meanwhile, 87 percent of buyers used real estate agents, one-percentage point lower than last year.
NAR and real estate professionals attribute the increased demand for agents in the digital era to a variety of factors, including:

Supply shortfalls. A lack of inventory makes home buying competitive, which prompts buyers to turn to agents for the inside scoop on homes coming to market and, when they do, to quickly write offers.
Data overload. Consumers also need agents to weed through vast amounts of data, when the info available online is often old or inaccurate.
Complex steps. The buying-selling process is now more complex, with longer contracts. More and more consumers start to realize that agents are better equipped to handle them.
Earlier connections. Real estate websites and online ads have contributed to the increase in demand for property professionals by helping consumers connect with agents earlier in the process.

"The portals are good at one thing – using that data to keep consumers searching," says Houston agent Sarah Schnell Jones. "When people are ready to move from searching to actually finding a home, they need an agent to provide insight – insight into the market, neighborhoods and the overall process."

Source: Inman News (11/05/15) Wiggin, Teke
© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

2015-11-03T14:47:00.001-05:00

Market keeps getting better for homebuyers

WASHINGTON – Nov. 3, 2015 – Home shoppers no longer need to tremble all the way to the lenders' office or have nightmares over being denied a home loan – all the troubles that have been prominently spotlighted by many news reports in recent years. A new report confirms: It's getting easier to get a mortgage – and as a bonus, borrowing costs are still low.

Over the past year and a half, the federal government and enterprises have taken several steps to open up the credit box, and the efforts may finally be showing signs of paying off. Credit scores on closed loans in September dropped to the lowest level since Ellie Mae began collecting the data in August 2011, according to Ellie Mae's latest Origination Insight Report. The average FICO score for closed loans has fallen throughout the year – from 731 in January to 723 in September.

"Average credit scores declined to the lowest levels we've seen since 2011," said Jonathan Corr, president and CEO of Ellie Mae. "We are also seeing rates fall while the time to close is also decreasing. It will be interesting to see if these trends continue as we begin to see impacts from TRID."
Closing rates remained high with more than 66 percent of all loan applications closing for the third consecutive month. The closing rate on purchase loans rose to 71 percent. Also, the time to close on all loans dropped for the fourth consecutive month to 46 days.

And more good news for buyers: The 30-year fixed-rate mortgage continues to remain well-below 4 percent. Freddie Mac reported this week that average rates were 3.79 percent nationwide for the week ending Oct. 29, down from 3.98 percent a year ago. Fifteen-year fixed-rate mortgages averaged 2.98 percent, down from 3.13 percent averages a year ago.

Source: "Is the Credit Box Finally Showing Signs of Opening Up?" HousingWire (Oct. 21, 2015) and Freddie Mac
© 2015 Florida Realtors®

2015-11-03T12:31:00.001-05:00

Average rate on 30-year mortgage slips to 3.76%

Average long-term U.S. mortgage rates were slightly lower this week amid expectations that the Federal Reserve isn't ready yet to raise its key short-term interest rate. Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage slipped to 3.76 percent from 3.79 percent a week earlier. The rate on 15-year fixed-rate mortgages stayed at 2.98 percent.

It was the 14th straight week of rates below 4 percent, and they are well below last year's levels. A year ago, the average 30-year mortgage rate was 3.98 percent, while the rate for 15-year loans was 3.13 percent. The Fed announced Wednesday that it's keeping the key rate at a record low near zero in light of a weak global economy, slower U.S. hiring and subpar inflation. But it signaled the possibility of a rate hike in December.

It was the first time in seven years of record-low rates that the Fed has explicitly raised the possibility that it could raise the benchmark rate at its next meeting. Data issued Thursday showed that September marked a slowdown in Americans signing contracts to buy homes, the second consecutive decline for a real estate market that has been rebounding for the first half of 2015.

The National Association of Realtors said its seasonally adjusted index of pending home sales dropped 2.3 percent to 106.8 last month. The index has risen 3 percent over the past 12 months, aided by solid hiring levels and low mortgage rates that fueled stronger demand during the traditional summer buying season. Sales of new homes plunged sharply in September to the slowest pace in 10 months, as higher prices and slower economic growth weigh on the housing market, according to government data out Monday.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage held steady from last week at 0.6 point. The fee for a 15-year loan rose to 0.6 point from 0.5 point. The average rate on five-year adjustable-rate mortgages was unchanged at 2.89 percent; the fee remained at 0.4 point. The average rate on one-year ARMs fell to 2.54 percent from 2.62 percent; the fee held at 0.2 point.

Copyright © 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

2015-11-03T10:59:00.000-05:00

7 Reasons to Own A Home

Tax benefits. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.
Appreciation. Historically, real estate has had a long-term, stable growth in value. In fact, median single-family existing-home sale prices have increased on average 5.2 percent each year from 1972 through 2014, according to the National Association of REALTORS®. The recent housing crisis has caused some to question the long-term value of real estate, but even in the most recent 10 years, which included quite a few very bad years for housing, values are still up 7.0 percent on a cumulative basis. In addition, the number of U.S. households is expected to rise 10 to15 percent over the next decade, creating continued high demand for housing.
Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
Predictability. Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.
Freedom. The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.
Stability. Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.

2015-10-23T16:19:00.001-04:00

Homeowners trump renters in wealth

NEW YORK – Oct. 20, 2015 – Homeowners' net worth is significantly higher than renters. A typical homeowner's net worth is $195,400 compared to a renter's $5,400, according to the Federal Reserve's last data from 2013.
The Fed's next survey of household finances, which is conducted every three years, is due out in 2016 and the renter to homeowner gap is expected to widen further due to price increases.

Lawrence Yun, chief economist for the National Association of Realtors^®, predicts that the median net worth of homeowners will jump to $225,000 to $230,000 in 2016, but it will be around $5,000 for renters.
If that proves correct, the typical homeowner will be ahead of a typical renter by a multiple of 45 on a lifetime financial achievement scale.

"Though there will always be discussion about whether to buy or rent, or whether the stock market offers a bigger return than real estate, the reality is that homeowners steadily build wealth," Yun writes in his latest column for Forbes.com.

"The simplest math shouldn't be overlooked. A vast majority of homebuyers take out a 30-year fixed rate mortgage to make a home purchase," Yun says. "After 30 years, there is no mortgage payment (nor rent payment). So the home price growth over that time period would be the equity that the home buyer would have accumulated."

The majority of Americans aspire to be homeowners and the homeownership rate increases significantly through age. The homeownership rate among households under the age of 35 is 35 percent, for example, but by the time people reach their prime-earning years of 45 to 55, nearly three-fourths are homeowners. By retirement, nearly 80 percent are homeowners, Yun notes.

Source: "How Do Home Owners Accumulate Wealth?" Forbes (Oct. 14, 2015)
© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

2015-10-23T16:19:00.000-04:00

Homebuyers dealing with longer timelines, costs

What buyers need to know...

Homebuyers will ask Realtors about the recent mortgage disclosure changes, and while Realtors don’t play an active role in the mortgage application process, consumer-friendly online brochures can help get buyers up to speed.

WASHINGTON – Oct. 19, 2015 – It has barely been a couple of weeks since a nationwide changeover in mortgage and settlement procedures went into effect, but lenders and brokers are already charging that just about everything is taking longer and that homebuyers' costs are increasing.
As of Oct. 3, lenders, title insurers and settlement agents had to comply with an almost 1,900-page new rulebook. The change was designed to improve transparency and accuracy in real estate and mortgage transactions to help both buyers and refinancers.

Most mortgage experts view the new disclosures as an improvement over the ones they replaced, but worry remains that the reformed process would draw out the typical time span between loan application and closing.
However, what has received less focus are the impacts of longer timelines on how much consumers pay to close the deal – increases that are just starting to become more evident.

According to Mortgage Bankers Association Chief Economist Michael Fratantoni, the expenses added by the new settlement rules are in addition to a long series of federal regulatory changes in the last few years that have hiked the cost of originating a typical home loan from $4,500 to $7,000.
"A lot of it is personnel, quality control, spending on new technology" and reprogramming systems, says Fratantoni.
As lenders and settlement agents gain more experience in managing deadlines under the new rules, Fratantoni and others hope that 30-day closings will become more common again.

Source: Daily Herald (10/16/15) Harney, Ken
© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

2015-10-23T16:18:00.000-04:00

New rules to help lower- and moderate-income applicants qualify for mortgages

WASHINGTON – Oct. 14, 2015 – New rules adopted last month by Fannie Mae will allow mortgage applicants to qualify for a home loan by counting the salaries of other relatives who live in the house – although their names may not be listed on the mortgage. It's a move that could potentially help more people qualify to buy homes, as long as it is done carefully, according to one Pittsburgh-area real estate executive. The new HomeReady program is aimed at helping creditworthy borrowers with lower and moderate incomes gain access to mortgages.

"For the first time, income from a non-borrower household member can be considered to determine an applicable debt-to-income for the loan, helping multi-generational and extended households qualify for an affordable mortgage," said the news release issued by the mortgage giant, which said its research found such extended households typically have incomes that are as stable or more stable than other households at similar income levels.

Other HomeReady adjustments include allowing income from non-occupant borrowers, such as parents, and rental payments, such as from a basement apartment, to augment the borrower's qualifying income. Commonly known as Fannie Mae, the Federal National Mortgage Association is a government-sponsored enterprise with the mission of bringing liquidity, stability and affordability to the U.S. housing market. It does this by purchasing mortgages from banks and then reselling them on the secondary market to investors. Once Fannie Mae purchases the mortgages from banks, it frees the banks up to make more home loans.

Ken Fears, director of regional economics and housing finance for the National Association of Realtors in Washington, D.C., noted, "The economic slowdown is causing families to double up or even triple up," he said. "There are certain immigrants to the U.S. who prefer inter-generational households. "It was more common in the U.S. 50, 60 and 70 years ago," Mr. Fears said. "As the U.S. became more of an economic powerhouse, the standard of living increased and folks moved out on their own. Now they are coming back together – at least for the time being."
Fannie Mae's move could be a step in the right direction, said Howard "Hoddy" Hanna III, CEO of Howard Hanna Real Estate Services.

He has some concerns about the execution. "What we don't want to have happen is people fabricating stories that all these incomes will be in the house when they possibly might not be," he said. Still, Mr. Hanna added, "All in all, the rule change is very reflective of today's world. We have far more multi-generational families living under the same roof."
He thinks one way to make sure all those in the household are invested in the idea is by having any working relatives in the household put their names on the mortgage.
"If the son and daughter-in-law were required to put their names on the mortgage note, it would keep them in the house longer," he said.

"What we don't want is for a borrower to qualify for a mortgage on $5,000 monthly income and then family members move out and the borrower only has $2,500 income. Then we are setting ourselves up for a mortgage problem like we had not too long ago." During the national housing slump that began before the recession, many borrowers found themselves in over their heads when values plummeted and jobs disappeared.

Mr. Fears said some will likely see the new Fannie Mae rules in the same light as the loosening of restrictions that occurred prior to the subprime credit crisis. But he said while this is a loosening in one dimension, it does not lower credit score requirements or downpayment requirements.
HomeReady loan applicants also will be required to complete an online education course preparing them for the home buying process.

"Fannie Mae is asking for a trade off with education," he said. "They are offsetting the risk with the education. I would expect this loan option to be more prevalent on the east and west coasts where there is a large migrant population, and in high-cost urban areas where it may take more income to make ends meet."

© 2015 the Pittsburgh Post-Gazette, Tim Grant. Distributed by Tribune Content Agency, LLC.

2015-10-23T14:59:00.000-04:00

39% of second appraisals differ from earlier ones

ALISO VIEJO, Calif. – Oct. 23, 2015 – A Platinum Data Solutions report for the third quarter of 2015 found that 39 percent of appraisals contained property quality or condition ratings that conflicted with earlier ratings on the same property. Platinum says these and other appraisal inconsistencies are a primary cause of underwriting delays that result from a number of factors. It says the problem exists with the same appraiser or another appraiser.

Conflicting property condition and quality ratings cause delays that generally range from one day to several days – a problem for lenders dealing with rate locks, deadline-oriented guidelines and federal regulations. A number of things can cause the second-appraisal problems, Platinum says, from human error to appraiser subjectivity, actual changes in the property, or even appraisal fraud, which has been cited by Fannie Mae and Freddie Mac as the top origination fraud scheme trend in 2014.

"Causes aren't easy to determine, so they need to be investigated," says Phil Huff, president and CEO of Platinum Data Solutions. "Doing this after Uniform Collateral Data Portal (UCDP) submission opens lenders up to numerous issues. Costly delays are just one of them." According to Fannie Mae, Collateral Underwriter (CU) identifies rating inconsistencies on loans submitted through the UCDP by comparing the appraisal's data with its own proprietary data, and flags the appraisal for comments or corrections.

Platinum Data says it analyzed over 300,000 appraisals evaluated by its RealView product in the third quarter of 2015. It says that the nation's top 10 mortgage lenders use RealView, along with 16 of the top 25 largest mortgage lenders in the country.

© 2015 Florida Realtors®

2015-10-23T14:44:00.007-04:00

4 costly mistakes new-home buyers make

When building a new home, homebuyers may quickly find themselves over-budget and over-stressed. U.S. News & World Report recently highlighted some of the most common financial mistakes when building a new home:

1. Don't overbuild
"I meet potential clients in my office almost weekly who tell me, 'We built a 6,000 square-foot home, but now we're dying to downsize to something smaller,'" says Andy Stauffer, owner of Stauffer and Sons Construction, a homebuilder in Colorado Springs.
"Most families don't even need 5,000 square feet, and a home as small as 2,500 or 3,000 square feet won't feel small if it's designed properly. A larger house is just more expensive and harder to maintain and clean.
According to the National Association of Home Builders, a custom home in the U.S. costs an average of $105 per square foot to build. That means by eliminating even 500 square feet in a home that you don't need, you'll save over $50,000."

2. Consider the resale value at the beginning
"It's simply a fact of life: Most of us don't know for sure where we'll be in 10 or 15 years, as much as we'd like to think we do," Stauffer says. "I recently spoke to a real estate agent who had some clients that built a five-story custom home. They loved it, but when it was time to sell, they had to drop the price by tens of thousands of dollars and sell at a significant loss because nobody wanted to buy a five-story home and walk up and down the stairs all day long."
Stauffer tells buyers to "build your dream home, but don't make it a nightmare for someone else."

3. Weigh the upgrades
Which upgrade options should make the cut? Buyers may have to teeter between too-conservative and not-conservative-enough when choosing extras. "You will be surprised at how quickly a $200,000 home becomes $400,000 in upgrades," says Joan Fradella, a family mediator in West Palm Beach, Fla., who built a new home in 1998.
Brian Brunhofter, president of Meritus Custom Builders in Chicago, says buyers need to carefully consider what upgrades are must haves.
"For example, carpet can always be switched out to hardwood floors later, but a full basement is something you should decide on now," Brunhofter says. That said, some buyers might want to do some of those upgrades now while lending is still relatively inexpensive. As long as you don't go overboard, it may "be much more economic to stretch and plan for those features in your budget now," he says.

4. Monitor the progress
"Visit the site during construction," advises Nicole Cannon, a resident architect in Los Angeles. "Make sure things are matching your expectations, and ask questions if they don't. The worst option is to remain quiet and end up with something that you are unhappy with or have to pay to fix after the fact."

Source: "8 Financial Mistakes to Avoid When Building a New Home," U.S. News & World Report (Sept. 25, 2015)
© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

2015-10-23T14:41:00.001-04:00

Flipping houses popular again

SEBRING, Fla. – Oct. 23, 2015 – One factor in the 2005-06 housing boom was flipping. Vacant lots were selling three to five times in one year," said Highlands County Property Appraiser Raymond McIntyre. "They'd start at $5,000, and they were selling the last time for $30,000. And it appears flipping has started again. Florida's chief economist, Amy Baker, told the Florida Senate last month that the housing recovery has attracted speculators. More than 9 percent of residential sales in Miami-Dade and Palm Coast were flipped, she said.
RealtyTrac said all seven of the nation's top housing markets for home flips were in the Sunshine State. "South Florida is a hot spot," RealtyTrac Vice President Daren Blomquist told the Miami Herald.

Forbes Magazine listed the top five U.S. markets for flippers: Memphis, Ocala, Tampa, Miami and Detroit.
"I'll be listing a home this week that an investor bought, made repairs and is now re-selling," said Steve Fruit, a broker associate with RE/MAX Realty Plus in Lake Placid.
"Flipping isn't for the faint of heart," Forbes said. But buying a house and reselling it for a quick profit is so popular, it's become reality television. Witness Jeff Lewis on "Flipping Out," where high-ticket fixes and luxury-market dynamics make for nail-biting deal closings in Los Angeles.

In 2014, Forbes said, some 136,269 homes – about 5.4 percent – of all single-family home sales were flips. That's the lowest percentage since 2011, so the magazine expects the number to continue to rise as the economy recovers and lending standards loosen.
And this is why speculators flip: gross profits on flips are up to $65,993 in 2014.

Coastal cities lead the trends, real estate watchers say. When the market heats up in Tampa and Miami, it will happen in central Florida cities 12 to 18 months later.
"It's going to be happening," McIntyre said. "The question is how heavy is it going to be, buying, turning them around, and putting them right back on the market? It's the way a lot of people make their living."

Home values have risen by 7.5 percent over the last year, Forbes reported. Many Florida markets have noted their 40th consecutive month of price increases.
"But with home values still 30 percent below peak prices, there is still opportunity to buy right as home prices continue to appreciate." Forbes said. In metro Tampa, fourth for flipping volume and sixth in flipping returns, flips accounted for 7.4 percent of all sales and delivered 57.2 percent return on investment, according to RealtyTrac.

"We've already closed on some," said Dawn Dell, an associate at Heartland Realty. But she saw more flipping in 2015. "Now, the price points are starting to come up. The deals aren't as abundant."
After three years of cold Northern and Midwestern winters, she said, "They've got snow already this year. Our phones are on fire. They are looking for the deal of the day. But supply is down and demand is high."

Sales volume has increased 13 percent across the state, from 20,792 in September 2014 to 23,574 houses sold in September 2015, according to Florida Realtors data. The average sales price has risen 8 percent from $251,000 to $272,000.
More than 1,100 properties have sold or been transferred at least twice this year, McIntyre said. Twenty-five Highlands homes have moved five times in 2015.

However, he qualified, "It is hard to qualify which sales are actually flipping. No way to tell why the property sold more than once without interviewing each seller and or buyer. Some may be properties that were inherited and then sold, some may be caused by residents being relocated due to their job, some are corrective deeds."

Local home flipping is slowing. "The prices are starting to hit a level that is out of the sweet spot for a lot of flippers," Blomquist said. "We're seeing the number of flips come down and that, to me, is a sign that we're in a sustainable housing economy and not a bubble."

© 2015 the Highlands Today (Sebring, Fla.), Gary Pinnell. Distributed by Tribune Content Agency, LLC.

2015-10-23T14:36:00.005-04:00

Average rate on 30-year mortgage falls to 3.79%

WASHINGTON (AP) – Oct. 23, 2015 – Average long-term U.S. mortgage rates fell this week, marking a 13th straight week below 4 percent and offering an enticement for potential homebuyers.

Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage declined to 3.79 percent from 3.82 percent a week earlier. The rate on 15-year fixed-rate mortgages eased to 2.98 percent from 3.03 percent.
The rates are well below last year's levels. A year ago, the average 30-year mortgage rate was 3.82 percent, while the rate for 15-year loans was 3.08 percent.

The low rates and steady job gains have helped the real estate market reach what appears to be a stable plateau in recent months. Data issued Thursday by the National Association of Realtors showed that Americans snapped up more homes in September, suggesting that the housing sector remains insulated from global economic turmoil. Still, first-time buyers remain scarce and relatively few properties are being listed for sale, capping the potential growth of the sector.

Sales of existing homes jumped 4.7 percent last month to a seasonally adjusted annual rate of 5.55 million.
To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for a 30-year mortgage held steady from last week at 0.6 point. The fee for a 15-year loan declined to 0.5 point from 0.6 point.

The average rate on five-year adjustable-rate mortgages rose to 2.89 percent from 2.88 percent; the fee was unchanged at 0.4 point. The average rate on one-year ARMs jumped to 2.62 percent from 2.54 percent; the fee was steady at 0.2 point.
Copyright © 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

2015-10-23T14:35:00.001-04:00

Renting? Brace yourself. It’s going to cost more

NEW YORK – Oct. 23, 2015 – Rents skyrocketed in 2014 and many analysts didn't think those escalating costs could continue – but they were wrong so far. Rising rents have yet to slow in 2015 – and in fact, rents have gotten higher – and the increases likely will continue into next year. Annual rent growth in September was 5.2 percent – the highest since 2011, according to Axiometrics, an apartment research firm. That also marks the eighth consecutive month the rate has been 5 percent or higher. A year ago, annual rent growth was 4.1 percent.

"The eight months the rate has been above 5 percent is the longest sustained period of strength we have seen," says Stephanie McCleskey, vice president of research at Axiometrics. "The last growth cycle was only four years, and this cycle is already five years long – with no sign of stopping." Apartment construction has been increasing to meet rising demand, but some say it's still falling far too short.

"New inventory coming to market is weighted to the high end – it's urban, Class A, with a rich set of amenities, targeting the coveted college-educated millennial," Sam Chandan, president of Chandan Economics, told CNBC. "Overall, we still have an affordability crisis in the United States with rents rising faster than incomes for the fourth-consecutive year."
In September, apartment vacancies were low – at 95.3 percent occupied nationally. Axiometrics considers anything above 95 percent as a "full" market. But weak income growth may not support rent growths much longer in some markets.

"There is only so hard you can push on rents," Chandan says. Some studies are showing that it is more affordable to buy a home than rent. But inventory constraints in the for-sale market – particularly on the lower end – can keep renters renting and unable to save for a downpayment due to the high rental costs.

Lately, rent gains are highest in cities with boom tech sectors, such as Seattle, Denver and Portland, Ore. Rental prices are also above average in Nashville, Tenn., Charlotte. N.C., and several cities in Florida, Axiometrics reports.
"Younger, newly formed households continue to move out of their parents' or roommate living arrangements and rent an apartment, driving up the demand for more rental units," says David Crowe, chief economist for the National Association of Home Builders.

Meanwhile, homebuilders – such as Lennar and Toll Brothers – are adding more rental apartments to their mix.
"Thirty-five percent of new home starts in 2015 have been multi-unit," CNBC reports. "That is higher than a year ago and the highest share since 1973. Developers are simply going to where demand is highest and most lucrative."

Source: "Think Your Rent's Too Darn High? Just Wait," CNBC (Oct. 20, 2015)
© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688