According to some economists about half of the top 100 markets are going to see a rise in the near future. While many people are wondering, “how much is my real estate is going to drop over the next couple years”? Some lucky parts of the nation are going to see a rise in home values.

Fiserv Lending Solutions a real estate valuation company says that the picture for many parts of the country is going to be ugly! In 2007, 36 of the one hundred largest markets have seen a big decline in prices. In 2008, that number is going to grow.

Here are the top 10 markets that are projected to see a rise in real estate values: McAllen, Texas is predicted to see a 9.80% rise in 2008, El Paso, Texas is predicted to see a 4.40% rise in 2008, Albuquerque, New Mexico is predicted to see a .60% rise in 2008, Salt Lake City, Utah is predicted to see a 1.90% rise in 2008, Syracuse, New York is predicted to see a 3.60% rise in 2008, San Antonio, Texas is predicted to see a 3.50% rise in 2008, Rochester, New York is predicted to see a 4.20% rise in 2008, Baton Rouge, Louisiana is predicted to see a 2.80% rise in 2008, Fort Worth, Texas is predicted to see a 3.50% rise in 2008 and rounding off the top ten is Birmingham, Alabama with a 3.50% rise in 2008.

The Florida real estate market continues to take a beating along with parts of the California real estate market. The Arizona real estate market is also seeing an adjustment from the major run up from the real estate bubble too.

‘Twas the night before Christmas and all through the house,
People like you were finding the best rates online with a mouse.
The stockings were hung by the chimney with care
And smart investors were online because best rates are found there.
We exchanged presents wrapped in green and red
While visions of great returns danced in our heads.
From home equity and mortgages to checking and CDs
I, too, looked online to find the best rates for me.

As a gift to my parents, I helped them refinance their mortgage loan
I found them a low 30-year fixed, so their payments won’t grow.
They’re able to make the monthly payments with ease
And they say it makes owning a home feel like a breeze.

For those who already own their home at this time,
Perhaps the gift of choice should be a home equity loan.
With the Fed cutting the rate again and again,
Rates are the lowest they’ve ever been.
If you want to tap into your equity, now may be the time,
To pay off your credit card debt so it doesn’t continue to climb.

By using rate tables, I filled my wallet with cheer
And ensured that gift-giving will be a little easier next year.
Finding ideal mortgage rates online has become such a cinch
Never again will I need to be a Scrooge or Grinch.
Bring out the holly, garland, and yule log,
Offer everyone some sugar cookies and egg nog.
Use tables to check rates and make your finances soar,
Happy rate shopping to all, from my home to yours!

Source: Informa Research Services

The time has never been better to relocate! As the market softens across the country, house prices are going to be more affordable for people relocating! Make sure you check out National Relocation for all your relocation needs.

You can research schools and neighborhoods you are considering. You can also find great Realtor, multiple moving quotes from professional movers, home inspectors for many of the services you will need when relocating.

You can also search for a home for rent and apartment rentals if you are not sure whether now is a good time to buy. If you are going to buy you can find real estate information along with a huge inventory of bank foreclosures as well plus you can even get mortgage quotes as well.

When relocating to a new area many times you will have to get new car insurance and may even want to get life insurance as well. You can find many more relocation services.

3 Ways You Can Maximize Your Home Equity Loan

max-i-mize [verb] : 1. to increase to the greatest possible amount or degree
2. to represent at the highest possible estimate; magnify
3. to make the greatest or fullest use of.

Your home is your greatest asset, and you can maximize that asset by tapping into its equity with a home equity loan. But you already knew that. It is not enough, however, to maximize your home’s (real estate) equity if you do not maximize your home equity loan. Here are three ways that you can get the most out of your home equity loan and make your home work to its greatest potential for you:

1. Find a loan with the fewest fees. When consumers shop for a home equity loan they focus on mortgage rates and monthly payments. These are important, but in the process they tend to overlook the fees that also come with the loan. Common fees associated with home equity loans include application fees, points, closing costs, and pre-payment penalties. So be sure you do your research and compare all the pricing elements for home equity loans .

2. Make sure the interest is tax deductible. In most cases, the interest that you pay on a home equity loan can be tax-deductible. You should always consult your tax advisor and find out if you can take advantage of an offer like this.

3. Use it to finance something that will increase in value. You can use a home equity loan to finance just about anything. You can pay off credit card debt, or you can buy a car. But the way to really get the most out of it is to pay for something that will increase in value, such as home improvements or college tuition. Most home improvements can add more value to your home. When you use your home’s to fund a project like this, you are, in a way, giving the money back to yourself. Similarly, when you put money into a college education, either for your child or yourself, it is the type of investment that will increase in value and be able to pay itself off in the future.

In order to truly maximize your home’s equity, you need to shop wisely, ask the right questions, and make sure you are getting the best home equity loan available. If you follow these three tips, you will be well on your way to getting the most out of, or maximizing, your home equity loan.

Source: Informa Research Services

Around this time of year, it’s hard to ignore that little voice telling you to shower those you care about with love.  Even more confusing is figuring out how that voice seems to find its way from your heart to your wallet every year as you run up your bills trying to purchase items that show precisely how much you care.  (Of course, those advertisements flaunting cars and jewelry boxes donning pretty ribbon bows don’t help either.)

In looking for another method of payment, you may think that using a home equity line of credit (HELOC) may be a good alternative route to use to pay for your gifts.  But how appropriate is it to use your HELOC to pay for gifts this holiday season?

A HELOC is typically attached to an interest rate which is linked to the prime lending rate.  The interest rates on are usually the prime rate plus a margin that financial institutions determine.  However, if you have excellent credit, sometimes you can qualify to receive the prime rate.  Use the Internet to shop for the most competitive offers on HELOCs.

Because of this variable rate, frequently the overall benefits of HELOCs are dependent, in part, on the rate environment.  For example, if you had a HELOC between July 2003 and March 2004, your rate would have stayed relatively steady because the prime rate hovered at 4%.  On the other hand, if you had a HELOC from March 2004 to July 2006, your rate would have more than doubled from 4% to 8.25% (Source: Federal Reserve Board).

This potential interest rate fluctuation is one reason HELOCs should be meant for short term spending.  By keeping your HELOCuse short term in nature, you can help avoid paying more than necessary for unexpected prime rate increases.

If you want to use your HELOC to pay for your holidays this season, try using it to pay off your credit cards.  Since HELOCs tend to have lower interest rates than credit cards, by using your HELOC to pay off your credit cards, you should save money by lowering the interest paid overall.  Furthermore, the interest paid on HELOCs may be tax-deductible.  Always check with your tax preparer for full details.

Remember that you don’t have to spend a lot this season to show your friends and family that you care.  You can spend thousands of dollars on gifts, but the best things in life are free.  Spending time together should be a higher priority than spending dollars.  This season, be sure the gifts you give are wrapped in love.

Source: Informa Research Services

The equity in your home is a frequently overlooked asset and it is not typically the first option people consider when they need some cash.  Here are a few interesting figures about home equity loans to consider the next time you are seeking financing for various projects and purchases:

$1,019 Billion - The volume of home equity loans has reached $1,010 billion according to the 2006 U.S. Census.  This figure is up from $314 billion in 1995 and $500 billion in 2001.  If you are going to join the masses and tap into your home equity, be sure to secure the best rate by using the Internet to research available rates (Source: Harvard Joint Center for Housing).
 
91% - Ninety-one percent of homeowners consider the equity in their primary home “a useful financial asset” according to a 2006 survey by Harris Interactive for Countrywide (Source: Countrywide Home Loans).  Given the competitive interest rates and potential tax benefits of taking out a home equity loan upon a primary residence, it’s no wonder so many people consider their equity an asset.  To enhance these benefits, you should try to find a home equity loan that has the best rate. 
 
55% - Fifty-five percent of those surveyed stated that they used their home equity loan to repair their home, as stated in the Home Equity Lending Monitor 2006, published by Synergistics Research Collaboration.  Other purposes included debt consolidation (32 percent), vehicle purchase (24 percent), appliances or furnishings (15 percent), and travel (8 percent) (Source: Synergistics Research Corporation).
 
1 in 4 - Approximately 1 in 4 households have first mortgages and home equity loans according to the 2006 U.S. Census.  This figure has increased by 4 percent from 2 years ago (Source: U.S. Census).
 
18% - Eighteen percent of those surveyed considered understanding the opposite sex easier than understanding the home buying process according to a study by Harris Interactive for Countrywide in 2005.  Those surveyed also considered programming a DVR or TiVo (55 percent) and taxes (28 percent) easier than understanding the process of purchasing a home (Source: Countrywide Home Loans; ConsumerAffairs.com).
 
7.83% - The current national average for a $50,000 home equity loan with a 15-year term is 7.83 percent.  The national high rate and low rate are 11.75 percent and 5.63 percent, respectively (Source: Informa Research Services).  Shop online for the best rates.

Source: Informa Research Services

Has the list of desired repairs and renovations become so long that it sends chills up your spine?  A few improvements may be exactly what you need this season, and with the recent rate cut, this may be a good time to open up that home equity line of credit to improve your home.  Here are a few ideas to help you get started:

• Repair your roof.  In preparation for the rough winter weather ahead, this may be a good time to get any leaks or damage on your roof repaired.  To help cover the costs, consider using your home equity line of credit to help fund this project.

• Forget the pumpkin patch; plant some vegetables.  It’s no wonder autumn is called harvest season; there are numerous plants and vegetables that thrive in the mild weather autumn offers.  Use this opportunity to replenish your garden and repair any damage left by a hot, dry summer.

• Make your backyard warm and toasty.  The temperature may be dropping almost as quickly as the leaves in your backyard, but that doesn’t mean that all your social gatherings must move inside.  Consider using your home equity line to add an outdoor fireplace to keep you and your loved ones warm when the weather begins to get chilly.  On a smaller scale, a fire pit can help serve the same purpose.

Because the interest paid on home equity lines of credit can be tax-deductible, home equity lines are beneficial and flexible ways for you to access funds to help make your tax season a little less scary this year.  Be sure to inquire with your tax preparer for full details concerning tax-deductibility.  Your home equity line of credit can help you have a fabulous fall season without the frightful bill.

Source: Informa Research Services

It might not take an international secret agent like James Bond to get a great mortgage, but picking up a few pointers from the professionals doesn’t hurt either.

While most people look primarily for the best mortgage rate, an attractive mortgage is more than just the best rate.  Both lender’s fees and prepayment penalties can put thousands of dollars between you and owning your home.  Here are some pointers to help you acquire a mortgage fully equipped with “all the usual refinements” and save thousands on financing your (real estate) home.

Ask the right questions and go with your intuition.
Mr. Bond never needs to ask a lot of questions, but he always knows the right ones to ask.  Likewise, you should feel free to ask questions until you feel comfortable with the mortgage you have selected.

Similarly, don’t be afraid to ask questions about the lender’s or broker’s fees, which may also include points.  According to the Real Estate Settlement Procedures Act and Regulation Z of the Truth in Lending Act (TILA), the lender is required to fully disclose the cost of borrowing before your mortgage loan is finalized.

Always have an escape route available.
In the world of fictional espionage, there seems to always be a way out of every sticky situation.  In mortgages, this is not always the case.  However, one way to keep an escape route open is by opting out of a prepayment penalty loan.  This will come in handy if life decides to throw any unexpected curves your way.  For instance, you may plan on buying and living in a house for 20 or 30 years.  But what happens if you have an unexpected career change or life event that requires you to sell the house during the first few years of owning it?  Or what if rates drop next year and you would like to refinance?  As long as you don’t have a prepayment penalty, you can either sell or refinance your house as needed without paying a hefty fee.  Prepayment penalties can be effective anywhere from the first six months to three years into the mortgage loan.  Thus, this decision depends on how much flexibility you anticipate needing in the near future.

Furthermore, in addition to the aforementioned full disclosure of fees, Regulation Z of TILA also stipulates that for refinanced mortgages, through the right of rescission (or cancellation), the consumer has three business days to cancel their new loan without penalty.

Never fall for the tricks.
In the classic spy flick, the villain’s antics are typically predictable.  Similarly, the popular “bait-and-switch” move is one of the oldest tricks in the marketing book, so don’t fall for it.  Many financial institutions that offer mortgage loans use their best rates and lowest fees to lure customers into their establishments.  However, there may be stringent requirements to qualify for the advertised offer.  Often times, if the consumer does not meet all the requirements, they will then be offered a higher rate.  To avoid falling victim to this predictable scheme, research mortgage rates before going to the financial institution, and know your credit score.

Use the resources available, such as the Internet, to research and become knowledgeable about mortgages and you’ll see that with a little preparation, it doesn’t take a super spy to find a great mortgage.

Source: Informa Research Services

Your home can say as much about you as your outfit.  And just like shopping for a tasteful, classy wardrobe, shopping for a new home has its challenges.  However, like choosing new clothes, there are a few helpful hints that will save you loads of time and trouble.

Choosing the Right Style
When choosing a mortgage, research the different types available and realistically consider which will fit your budget and lifestyle.  Furthermore, gaining a complete understanding of precisely how the various mortgages work should help you make a better decision.  For instance, even though the thought of lower monthly payments is tempting, unless you are anticipating a steady increase in your income over the term of your mortgage, an adjustable rate mortgage may not be the best option for you.

Furthermore, know your credit score and credit history.  Months before you go look at any properties, check your credit history and make sure it is accurate.  By federal law, you are entitled to a free credit report every 12 months from three designated consumer credit reporting agencies.  These free credit reports can be requested by mail, phone, or the Internet through the Annual Credit Report Request Service (Source: annualcreditreport.com).  If your credit history is less-than-perfect, you may consider consulting a credit counselor to help you manage and budget your finances to improve your credit score.  You will find it troublesome to have to clear up inaccuracies on your credit report while trying to get approved for a mortgage for your dream home.

Finding the Right Size
Look for a home that suits both your family and your budget.  Figure out how much you can afford and try to buy a property that is within your budget.  The rule of thumb is that you should aim to spend about a third of your gross annual income on housing.  Another way to figure out an approximate housing budget is to deduct your regular necessary expenses (such as food, utilities, car payments, etc…) from your gross income.  This should help give you a good idea of how much you can afford to spend on monthly mortgage payments.  You need to also remember that the cost of a home includes other costs such as maintenance and utilities which tend to correlate with the size of the home.  Moreover, it might be wise to try to leave room in your budget to include saving for emergencies or other unexpected expenses.

The “Little Black Dress” of Properties
Lastly, despite the popular mantra of “living-in-the-moment,” try to keep a property’s future resale and equity in mind when looking for your new home.  While a vogue home or location may be all the rage at this moment, choosing a classic, timeless real estate will pay off in the long run, especially if you intend on tapping into your home equity at a future date through a home equity loan or line of credit.

Source: Informa Research Services

While the thought of paying off an entire mortgage  may have your stomach flipping, either from excitement or nerves, choosing a mortgage loan can be a lot like choosing a roller coaster at a large theme park: exciting, a little daunting, and important to your future well-being and happiness.  Like coasters and other amusement rides, mortgages come in a variety of shapes, sizes, and speeds to accommodate your personal taste and situation.

Choose the size of your adventure: teacups or colossus?
Even at the largest theme park, rides are offered in a variety of sizes from “kiddie” rides for the little tikes to the extreme coasters that push the limits of speed, gravity, and the adrenaline rush.  Likewise, most financial institutions offer a variety of mortgages made to fit homeowner needs.  These usually come in the form of conforming mortgages and jumbo mortgages.  The main difference between these choices is that conforming mortgages are under the threshold (currently, $417,000 for a single-family residence) set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (more commonly referred to as Fannie Mae and Freddie Mac, respectively), whereas jumbo mortgages are over the $417,000 threshold.

Mortgage term: How long is your favorite ride?
Another factor that coaster buffs consider in deciding which coasters to ride is the length of the ride.  Would you rather have a slow and steady five minute ride or an adrenaline-packed 30 seconds?  Similarly, the term of a mortgage loan, or the amount of time over which you have to pay the mortgage loan back, should influence your decision.  While longer mortgage loan terms allow you to have lower monthly payments, some people might prefer the financial and psychological comfort of paying off their mortgages more quickly despite the larger monthly commitments (i.e. a 30 year fixed vs. a 15 year fixed).

Speaking of monthly payments, consider your spending habits and abilities over the term of the mortgage.  For instance, a balloon mortgage typically requires very low payments in the beginning, but the balance of the mortgage is due in full all at once.  While the low starting payments may be tempting, be realistic about whether you will be able to pay off the loan in its entirety when it is due.
 
Are you ready for that 300-foot rise?
The most obvious and attractive features of coasters are the loops and the drop.  Likewise, many people only notice the interest rates attached to mortgage loans, and with good reason.  Interest only adds to your monthly payments and the overall cost of your home; thus, you should use resources, such as the Internet, to shop for the best mortgage loan interest rates.

Mortgage loans come attached to a fixed or variable rate (also called adjustable or floating rate).  If the rate is variable, look at what interest rate caps are in place (both annual and lifetime).  Interest rate caps can apply not only to the frequency and amount of interest rate changes, but also the total adjustment in the interest rate over the entire span of the loan.

Lastly, in making any financial decision, be sure that you understand the terms and conditions of the mortgage loan you decide to take.  You can save yourself hundreds and thousands of dollars by simply understanding what is expected of you and what you should expect from the lender.  Having this thorough understanding will ensure that you can enjoy the thrilling ride to homeownership.

Source: Informa Research Services