ANGEL WINGS REALTY NEWS RELEASE, 1 May 2009
Angel Wings Realty established its account on Twitter and expands its luxury real estate information services and real estate updates on the web. Visit the Angel Wings Realty URL at: http://twitter.com/aaaWings
“A” INNOVATION’S PRODUCT NEWS RELEASE, 1 May 2009
Inventor, Christopher E. Walach, and “A” Innovations is now taking proposals to produce the “Smart Kennel” Pet Carrier product from domestic and international manufacturers, corporations, or business organizations. Venture capitalists are encouraged to inquiry into this product for investment. Initial proposals are being accepted through email and regular mail to “A” Innovations. Contact “A” Innovations for product specifications and request for proposal information.
(Visit the “A” Innovations Website at aaaWings.com, click on the “A” Innovations button and then The “Smart Kennel” button).
In a recent March 2009 Edition of Realtor Magazine, one author (Dick, March, 2009) outlined several questions that new home buyers should ask with regard to their home warranties: Does the current new-home warranty extend to subsequent home buyers? Dick (March, 2009) wrote that in some cases, clients will want to know if new-home warranties extend to a subsequent buyer. He wrote that, in general, the express warranties discussed apply only if a home is being sold by the builder and the buyer is the first occupant of the home. However, Dick (March, 2009) further wrote that there is a trend toward letting implied warranties pass from the original owner to a second or third owner if the warrant has not expired. What claims are available to new home buyers against the builder? Dick (March, 2009) wrote that new home buyers should read the warranty, if there is one, provided by the builder; call the builder and try to resolve the dispute; provide written notice to the builder of the defect in the form of a letter; give the builder a reasonable amount of time to resolve the problem; seek legal advice if the dispute cannot be resolved; and contact the state consumer protection agency or state attorney general’s office.
New home warranties fall into three categories: Statutory: These are warranties specifically required by law. Implied: These are warranties inferred by legal precedent set in past lawsuits. Dick (March, 2009) wrote that most states have case law that protects new-home buyers from faulty workmanship. And finally, Express: Dick (March, 2009) wrote that these are written warranties provided by the home builder. He further wrote that a builder may decide to provide express warranties about the home in the purchase contract, even in the absence of a law requiring it to do so.
References: Dick, A. (2009, March). New-home Protections. Realtor. Chicago: National Association of Realtors.
NOTE: This news site provides general information only. Information is not provided as advice for a specific matter, nor does its publication create a real estate broker-client relationship. For advice on a specific matter, consult your attorney and CPA. Opinions and content in this news site does not necessarily reflect the position of Angel Wings Realty, LLC.
Join the current business talk on our economy, the housing industry, owning a home, the proposed home tax credit, the mortgage crisis, and what our congressional leaders should do for the people that elected them. Join the unbiased business and real estate discussion—unedited, honest, and to the point with the issues we are facing in our economy. Go to: aaaWings.com (my blog site).
National new-home sales in September showed a 2.7 percent gain over revised numbers for August, but were still 33.1 percent lower than September 2007, the Commerce Department reported yesterday.
The month-to-month national increase was primarily the result of a 22.7 percent boost in new-home sales in the West, where builders are slashing prices to compete with a huge number of foreclosures on the market.
Still, new-home sales in the West were 36.4 percent below September 2007. In the Northeast, new-home sales fell 21.4 percent from August and were 65.1 percent lower than September 2007, the Commerce Department reported.
Economists expected the monthly bounce-back in September, but “home sales are fighting fierce headwinds from sharp declines in household net worth, shrinking employment levels, and periodic upward pressure on mortgage rates,” said Brian Bethune of IHS Global Insight, of Lexington, Mass.
“Offsetting this,” he said, “home valuations are much more reasonable.”
The good news for all, the boost in month-to-month sales nationally cut the inventory for sale 8.8 percent, to 10.6 months, or 394,000 houses.
“Despite the fact that builders are moving very few new homes, the slight rise in sales holds out hope that the bottom has been reached,” said Commerce Bancorp Inc. chief economist Joel L. Naroff.
“While the gain was nothing to write home about, up is an awful lot better than down,” he said. “Given how hard it is to get a mortgage these days, I will take it.”
NOTE: This news site provides general information only. Information is not provided as advice for a specific matter, nor does its publication create a real estate broker-client relationship. For advice on a specific matter, consult your attorney and CPA. Opinions and content in this news site does not necessarily reflect the position of Angel Wings Realty, LLC.
Today, the Federal Reserve has slashed a key interest rate by half a percentage point to 1%, down from 1.5%, as it attempts to revive an economy hit by a long list of maladies stemming from the most severe financial crisis some say since the “Great Depression”.
The funds rate has not been lower since 1958, when Dwight Eisenhower was president.
The cut marked the second half-point reduction in the funds rate this month. The Fed slashed the rate by that amount in a coordinated move with foreign central banks on Oct. 8.
In a brief statement explaining Wednesday’s action, the Fed said that the “intensification of financial market turmoil is likely to exert additional restraint on spending, partly by further reducing the ability of households and business to obtain credit.”
The central bank said that “downside risks to growth remain” holding out the promise of further rate cuts if needed. The rate-cut decision was unanimous.
Federal Reserve Chairman Ben Bernanke and his colleagues pledged that they would “monitor economic and financial developments carefully and will act as needed to promote sustainable economic growth and price stability.”
Many analysts do not see that this will greatly aid the consumer. Typically, after a Fed Reserve cut in rate, it takes 9 months to ‘trickle down’ to the consumer in the form of more aggressive bank and creditor lending standards. It has been 14 months since the last significant rate cut to the Fed’s Key Rate (the interest rate charged by the Fed to banks for overnight loans), and consumer’s have still to see the ‘trickle down’ effect.
Many economists feel that banks will continue to horde assets, in an attempt to overcome their continually accruing losses.
Hopefully, these economists and analysts will be wrong, and banks will increase mortgage lending and credit grants.
NOTE: This news site provides general information only. Information is not provided as advice for a specific matter, nor does its publication create a real estate broker-client relationship. For advice on a specific matter, consult your attorney and CPA. Opinions and content in this news site does not necessarily reflect the position of Angel Wings Realty, LLC.