2604 18th St S in Fargo will be open.  This is a one owner home with one level living.  2 bedrooms and 2 full baths.  Master bedroom has private bath and walk in closet.  Open floor plan with snack bar.  Very affordable living with lots of benefits. Great location with easy access to major roads, shopping and restaurants.  Two stall attached garage!  $80 association fee covers lawncare, snow removal, building insurance and exterior maintenance.  No mowing, shoveling, weeding, raking or painting and No Specials!  Brand new wall AC with remote.  Offered at only $99,900 this home is cheaper than rent!

3:00 – 4:30pm Sunday, August 22, 2010

4402 Riverwood Dr N, Fargo, ND.  Offered at $299,900.   Luxury can become a habit in this elegant two story.   There’s room for everything here with 5 bedrooms, 4 baths, two family rooms and a three stall garage. The fourth bedroom is conveniently separated with its own bath for guest privacy.  Master bedroom has walk-in-closet and private bath with jet tub.  Entertaining family and friends is easy with the open floor plan and two family rooms with cozy, gas fireplaces.  Riverwood is a family favored neighborhood with quiet streets and a park nearby; the feel of the country right in town.  Once you see it, you’ll want to own it!  Come see the family features this home offers.

This gives FHA the authority to raise the monthly mortgage insurance premium for FHA mortgages.  The good news is they plan to decrease the upfront mortgage insurance from 2.25% to 1%.  However, they are raising the monthly mortgage insurance from to .85% - .90% which in turn will make monthly mortgage payments more expensive for borrowers.   In the future, FHA has the ability to raise it to 1.15%

Possible scenarios based on information we have been given:

Before October 4, 2010:                                                                               

A $200,000 mortgage at 5% interest for 30 yrs:                   

Loan + upfront MI           $204,500                                             

Principle + Interest          $1,098/month                                  

Monthly Mtg Insurance     $ 94                                                      

Total                                   $1192                                                   

After October 4, 2010:

A $200,000 mortgage at 5% interest for 30 yrs:

Loan + upfront MI           $202,000

Principle + Interest          $1,083/month

Monthly Mtg Insurance     $ 152

Total                                   $1235

Possible future 1.15%:

A $200,000 mortgage at 5% interest for 30 years:

Loan + upfront MI           $202,000

Principle + Interest          $1,083/month

Monthly Mtg Insurance     $ 261

Total                                   $1344

To set up a home search go to www.FindFMAreaHomes.com.  To request a CMA (comparative market analysis) on your home go to www.FMHomeMarketValues.com.

Talk to your Realtor, or call me, Dan Whitman at 701-238-2582 for more information.

With the extremely low interest rates this home is more affordable than ever.  If you would like a CMA (Comparative Market Analysis) on your current home we can provide one at no cost or obligation, or set up a home search for yourself and view what's new on the market in the privacy of your own home.

2604 18th St S in Fargo will be open.  This is a one owner home with one level living.  2 bedrooms and 2 full baths.  Master bedroom has private bath and walk in closet.  Open floor plan with snack bar.  Very affordable living with lots of benefits. Great location with easy access to major roads, shopping and restaurants.  Two stall attached garage!  $80 association fee covers lawncare, snow removal, building insurance and exterior maintenance.  No mowing, shoveling, weeding, raking or painting and No Specials!  Brand new wall AC with remote.  Offered at only $99,900 this home is cheaper than rent!

1571 Sundance Square S, Fargo, ND  Offered at $249,900  Stunning Executive Townhome. The interior is beautifully appointed with contemporary colors. Open floor plan, 3 bedrooms, 2.5 baths plus office.  Extras include 2 gas Fireplaces, central vac, striking wood floors & cabinets. Master bath with walk-in-closet, main floor laundry, wet bar in lower level, lots of storage.  No shoveling or mowing!  Take University Dr South to 58^th Ave, turn right, follow the signs.

3:00 – 4:30pm Sunday, August 15

4402 Riverwood Dr N, Fargo, ND.  Offered at $299,900.   Luxury can become a habit in this elegant two story.   There’s room for everything here with 5 bedrooms, 4 baths, two family rooms and a three stall garage. The fourth bedroom is conveniently separated with its own bath for guest privacy.  Master bedroom has walk-in-closet and private bath with jet tub.  Entertaining family and friends is easy with the open floor plan and two family rooms with cozy, gas fireplaces.  Riverwood is a family favored neighborhood with quiet streets and a park nearby; the feel of the country right in town.  Once you see it, you’ll want to own it!  Come see the family features this home offers.

60 Meadowlark Lane in Fargo's desirable Woodcrest area. This home is a 4 level split with 4 bedrooms, 2 baths, newer appliances,fenced yard, underground sprinklers, and more.  The home is in excellent condition and is ready to move into. Stop by Sunday, August 8 between 1:00 and 2:30 pm. If you are looking for real estate in North Fargo, let us help.  Contact me if you would like to be kept infomed of new listings in the area, the price a home sold for, or if you are thinking of selling, go to www.FMHomeMarketvalues.com for a no obligation estimate of your homes current value.

4402 Riverwood Dr N, Fargo, ND.  Offered at $309,900.   Luxury can become a habit in this elegant two story.   There’s room for everything here with 5 bedrooms, 4 baths, two family rooms and a three stall garage. The fourth bedroom is conveniently separated with its own bath for guest privacy.  Master bedroom has walk-in-closet and private bath with jet tub.  Entertaining family and friends is easy with the open floor plan and two family rooms with cozy, gas fireplaces.  Riverwood is a family favored neighborhood with quiet streets and a park nearby; the feel of the country right in town.  Once you see it, you’ll want to own it!  Come see the family features this home offers.

1571 Sundance Square S, Fargo, ND  Offered at $249,900  Stunning Executive Townhome. The interior is beautifully appointed with contemporary colors. Open floor plan, 3 bedrooms, 2.5 baths plus office.  Extras include 2 gas Fireplaces, central vac, striking wood floors & cabinets. Master bath with walk-in-closet, main floor laundry, wet bar in lower level, lots of storage.  No shoveling or mowing!  Take University Dr South to 58^th Ave, turn right, follow the signs.

3:00 – 4:30pm Sunday, August 1

1942 E Rose Creek Parkway S, Fargo, ND.  Offered at $289,900  This home is an immaculately clean, perfect condition 2 story with 4 bedrooms and 3 baths. Master bedroom has private bath with double sinks and walk-in-closet.  Open floor plan, sunny kitchen, deck off dining area, tiled gas Fireplace, racetrack ceilings, laundry on main, 3 stall garage. Landscaped yard is partially fenced.  Basement is unfinished for your personal touch.

The ultimate in carefree living! This stunning Executive Townhome is located at 1571 Sundance Sq S and is being offered at $249,900.  The modest exterior disguises the interior of beautifully appointed contemporary colors.  It’s the perfect package with all the extras included: 2 gas fireplaces, central vac, striking wood flooring and gorgeous cabinets, master bath with walk in closet, lots of storage, main floor office space, main floor laundry, plus 2 additional bedrooms and wet bar in lower level.  Once you see it, you’ll want to own it!  Call for your showing today!

With the extremely low interest rates this home is more affordable than ever.  If you would like a CMA (Comparative Market Analysis) on your current home we can provide one at no cost or obligation, or set up a home search for yourself and view what's new on the market in the privacy of your own home.

For a private showing of this stunning home, call me at 701-238-2582.

Sunday, July 25 from 1:00 - 2:30   2604 18th St S in Fargo will be open.  This is a one owner home with one level living.  2 bedrooms and 2 full baths.  Master bedroom has private bath and walk in closet.  Open floor plan with snack bar.  Very affordable living with lots of benefits. Great location with easy access to major roads, shopping and restaurants.  Two stall attached garage!  $80 association fee covers lawncare, snow removal, building insurance and exterior maintenance.  No mowing, shoveling, weeding, raking or painting and No Specials!  Brand new wall AC with remote.

From 3:00 - 4:30 4402 Riverwood Dr N in Fargo will be open.  Luxury can become a habit in this elegant two story.   There’s room for everything here with 5 bedrooms, 4 baths, two family rooms and a three stall garage. The fourth bedroom is conveniently separated with it’s own bath for guest privacy.  Entertaining family and friends is easy with the open floor plan and two family rooms with cozy, gas fireplaces.  Riverwood is a family favored neighborhood with quiet streets and a park nearby; the feel of the country right in town.  Once you see it, you’ll want to own it!  Come see the family features this home offers.

By posting something personal such as a phone number or address, you are opening yourself up to data mining.  Check out Wikipedia and it will tell you “Data mining is the process of extracting patterns from data.  It is commonly used in a wide range of profiling practices, such as marketing, surveillance, fraud detection and scientific discovery.”  Many companies do this, including Google, and many of the fun games on Facebook are designed to do just that.  It is just a scheme to mine data.  That explains why Facebook always asks your permission whenever you want to play a game, accept a hug or a drink or a heart or whatever your friend is passing out this week, to access your basic information including your name, profile pictures, gender, User ID, lists of friends and any other information you’ve chosen to share.  When you play a game on Facebook it asks you to share your results with your friends.  As soon as you do this you have given your database to a third party.  Sounds a little creepy now, doesn’t it?

We’ve all heard the horror stories of banks, hospitals and department stores data bases that have been hacked into and personal, private data compromised.  No one should have to go through that, so here are a few tips to keep your information safe:

1.  Run a spyware program on your computer as well as anti-virus software.  Many of them are free.  It’s important to delete the tracking cookies many websites place on your computer.  They slow your computer down and open you up to the risk of having your information hacked.
2. Set up separate email accounts.  Use a free service such as Hotmail or Gmail to set up an email account, and then use this account to sign up for things or online shopping when you visit websites that you feel may spam you in the future.
3. Be wary of websites that ask you to provide information or access to your friends or Twitter followers.  It is probably a security threat.
4. If you bank on-line or do stock trading, use a separate computer for these financial transactions.  Avoid emailing or web surfing on this computer.
5. Keep your passwords safe.  One way to keep track of your passwords (which should all be different and changed frequently) is to use a password service.  A few examples are www.keepass.info , www.passpack.com , both free, or www.stickypassword.com which has a free 30 day trial.  These are pretty handy as they store your passwords in encrypted form and some will even help you with fillable forms.
6. Finally, set your Facebook privacy settings as tight as you can tolerate.  It will limit your exposure to hackers if you control who sees your information.

For a safe way to search for home listings and not be spammed or have your information sold, go to www.FindFMAreaHomes.com .

I've listed a beautiful 2 story on a large lot in Fargo's desirable Rosecreek area with 4 bedrooms and 3 baths.  This home has an upscale design with a large foyer and angled staircase.  The family room’s contemporary sculptured end wall and tiled gas fireplace is accented by a racetrack ceiling. Dramatic vaulted ceiling over the kitchen, formal living room and dining area emphasizes spaciousness. Laundry, guest bedroom and full bath complete the main floor plan. Master bedroom has walk-in-closet and private bath with garden tub and double sinks.  This stunning home at 1942 East Rosecreek Parkway South is listed at $289,900.

With the extremely low interest rates this home is more affordable than ever.  If you would like a CMA (Comparative Market Analysis) on your current home we can provide one at no cost or obligation, or set up a home search for yourself and view what's new on the market in the privacy of your own home.

For a private showing of this stunning home, call me at 701-238-2582.

If you tried to refinance last year but couldn't, now may be a good time to look into it again.  With home prices above last years and interest rates lower, there may be an opportunity to save even more money!  NBC reported last month that nearly 50% of the people with a 30 year fixed mortgage had an interest rate higher than 5.75%.  Do you know what your interest rate is?

For a free, no obligation comparison between your current loan and a loan at the new rate, call 701-238-2582 or email Dan@DanWhitman.com today.

Don't forget to share the good news with your family and friends!

To qualify you must be a member of the uniformed services, Foreign Service or an employee of the intelligence community and have served on qualified official extended duty service outside the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010.  A binding contract on a principal residence must be in place by April 30, 2011 and escrow closed by June 30, 2011.

In many cases the credit repayment requirement is waived for members of the uniformed services, Foreign Service or employees of the intelligence community.  The relief applies where a home is sold or stops being the tax payer’s principal residence after December 31, 2008 in connection with government orders received by the individual or individual’s spouse, for qualified official extended duty service.

For any further questions regarding the tax credit or buying or selling a home, call Dan Whitman at 701-238-2582.

HAFA was introduced to simplify and streamline the short sale process.  Lenders that participate receive a financial incentive to carry out the foreclosure alternatives through the program’s guidelines.  The intent is to remove the stigma from short sales and help keep communities from being destroyed through massive foreclosures.

Some of the details of HAFA are:

• Compliments the Home Affordable Modification Program (HAMP) by providing viable alternatives for borrowers who are HAMP eligible.
• Requires that borrowers be fully released from future liability for the debt
• Utilizes borrower financial and hardship information collected in conjunction with HAMP, eliminating the need for additional eligibility analysis.
• Allows the borrower to receive pre-approved short sale terms prior to listing

Financial incentives for HAFA:

• Homeowners qualify for $3000 in Borrower Relocation Assistance after the short sale or deed-in-lieu is completed
• Financial incentives for participating servicers include up to $1500 upon completion of the short sale or deed-in-lieu
• Lenders pay all servicing fees-homeowners have no out of pocket expenses

Who is Eligible?

• Is delinquent on a HAMP modification by missing at least two consecutive payments
• Does not qualify for a HAMP Trial Period Plan
• Does not successfully complete a HAMP Trial Period Plan

Loan Criteria:

• Loans owned or guaranteed by Fannie Mae or Freddie Mac do not qualify
• The mortgage loan is a first lien mortgage originated on or before January 1, 2010
• The mortgage is delinquent or default is reasonably foreseeable
• The current unpaid balance is equal to or less than $729,750

If you or someone you know is interested in finding out more about this program, please contact me, Dan Whitman, at 701-238-2582.   It’s important to know there are options available.  For more information, set up a home search or request a CMA (comparative market analysis) on your home go to my website www.DanWhitman.com

 Among the highlights:

• Tax credit eligible products must be reasonably expected to remain in use for at least five years. One method taxpayers can rely on to satisfy this requirement is to purchase products from a manufacturer who offers a warranty lasting at least two years at no additional cost.
• Not all Energy Star-rated products that are installed qualify for the tax credit. The Energy Star Web site includes a detailed listing of products that qualify for the section 25C program.
• The credit excludes installation costs for building envelope components — such as insulation and windows. In order for the home owner to claim the credit, the remodeler must provide an itemized breakout of the cost of these installed products, minus any labor or installation charges.

Building envelope components (Installation costs not included):

• Insulation material or system
• Metal or asphalt roofs that resist heat gain
• Exterior window, skylight, door, storm window or storm door with a U factor of .3 or below 

Qualified energy products (Installation costs may be included):

• Electric heat pump water heaters that yield an energy factor of at least 2.0.
• Electric heat pumps and air conditioners that achieve the highest efficiency tier
• Natural gas, propane or oil water heaters with an energy factor of at least .82 or thermal efficiency of at least 90 percent
• Biomass burning stoves with a thermal efficiency rating of at least 75 percent as measured using a lower heating value
• Natural gas and propane furnaces that achieve an annual fuel utilization efficiency rate of not less than 95
• Natural gas, propane, or oil water  boilers and oil furnaces that achieve an annual fuel utilization rate of not less than 90
• Advanced main air conditioning fans with annual electricity use of no more than 2 percent of the total annual energy use of the furnace

The Wind, Solar, Geothermal and Fuel Cell Tax Credit (Tax Code Section 25D): Tax credits are available at 30 percent of the cost, with no cap through 2016, for existing homes and new construction, for: 

• Geothermal Heat Pumps
• Solar Panels
• Solar Water Heaters
• Small Wind Energy Systems
• Fuel Cells

The energy-efficiency home products must be “placed in service” between Jan. 1, 2009 and Dec. 31, 2010. The credits are only valid for improvements made to the taxpayer's principal residence, except for qualified geothermal, solar, wind property, which can be installed on any home used as a residence by the taxpayer.

Home owners can claim the 25C and 25D credits on Form 5695 when they file their income tax returns. Check with your tax professional to ensure correct application of the energy-efficiency tax credit. Retain all receipts as well as records that include:

• Name and address of manufacturer
• Identification of the class of eligible building envelope component
• Make, model number and any other property identifiers
• A statement that the component is eligible for the credit (may include U factor, class of window or door, etc.)  

However, tenants rights during foreclosure have been strengthened by the “Protecting Tenants Rights at Foreclosure Act” signed into law by President Obama on May 9^th, 2009.   

The major provisions of this act are as follows: 

-During the term of the lease, the tenant has a right to remain in the unit and cannot be evicted, except for actions that constitute good cause.

- If the lease ends in less than 90 days, the new owner may not evict the tenant without giving the tenant at a minimum 90 days notice.

- At the end of the term of the lease, the new owner may terminate the tenancy if the new owner provides a 90-day notice.

- The new owner may terminate the tenancy if the owner will occupy the unit as a primary residence, and has provided the tenant a notice to vacate at least 90 days before the effective date of such notice. This is the only exception to the rule that the tenant may not be evicted during the term of the lease.

These provisions expire on December 31, 2012.

Bottom line, be sure you have a lease and know what’s in it.  Tenants have rights.  For a brochure outlining these rights in North Dakota click on this link:  http://www.ag.state.nd.us/Brochures/TenantRights-2003.pdf  or here http://www.dakprop.com/rights.htm . 

For Minnesota, click here to go to the Plain Persons Guide to Minnesota Landlord-Tenant Law http://www.tenant.net/Other_Areas/Minnesota/ppgmnllt.html

If you have further questions about foreclosure or how to avoid it, call me, Dan Whitman, at 701-238-2582.

This program empowers homeowners to become active in protecting their community through participation in Neighborhood Watch groups. Residents participate in Neighborhood Watch in their area by organizing residents to communicate any suspicious behavior to others by phone trees and reporting it to the authorities. 

Benefits of  Neighborhood Watch

• Your risk of being burglarized as well as other crimes such as auto theft, vandalism and personal assault are significantly reduced.
• By helping with this program you help to stretch the tax dollars by helping law enforcement agencies, who are limited in their available manpower.
• Not only does neighborhood crime go down, but many communities report a new feeling of caring and belonging amongst neighbors. Many have used their combined efforts to improve their streets, recreation opportunities and local services.

If you are interested in starting a neighborhood watch in your community, below are some steps to help you get started!

• Form a small planning committee of neighbors to discuss the needs of your community, gage the level of interest and potential problems, decide on a date and place for an initial Neighborhood Watch meeting
• Contact Your Local Sheriffs Office or Police Department for more information or to arrange a speaker
• Arrange a meeting location close to your neighborhood. It should have enough room to hold your invited neighbors and, if needed, for the use of audio visual aids such as an overhead projector.
•  For more information and educational materials related to starting a Neighborhood Watch, visit the National program's website.

This temporary waiver of their property flipping regulation will be in effect for the period of one year, unless extended or withdrawn by the FHA. 

To ensure FHA borrowers are protected from inflated prices, the policy has certain restrictions, including:

• All transactions must be arms-length and there can be no identity of interest between the buyer and seller.
• If the sale price of the property is 20% or more above what the seller paid for the house, the waiver will only apply as follows:

A. The increase in value is justified by documented improvements, repair and/or rehabilitation work on the subject property or, if no work was performed, a second appraisal is obtained with a detailed justification for the increase in value, and

B.   A property inspection is obtained which addresses the overall condition of the property, both interior and exterior including structure, foundation, roof, plumbing, insulation, etc.  The property inspector must not have any interest in the property or have any relationship with the seller of the property.  The inspector may not receive any compensation for referring or recommending contractors for any repair work deemed necessary by the inspection.

Many homeowners who plan to

If your kitchen needs a better look, but you can't afford a complete kitchen remodel, consider these below kitchen fixes to help sell your home faster and for more money:

1. Paint or re-stain worn wood cabinets and install cabinet hardware. Stay with simple and neutral hardware, avoid large clunky designs.

2. Remove outdated or busy wallpaper and any bold, bright paint. Stick with neutral colors.

4. De-clutter all counter tops, keep them free and clear of appliances, butcher blocks and knickknacks.

5. Update the faucets. New faucets can make a outdated sink look revitalized. Faucet replacements are also fairly inexpensive and simple plumbing projects with all of the parts available at your local hardware store.

6. Remove photos, calendars and personal effects from the refrigerator door.

7. Updated and simple rugs and towels with a splash of color can bring warmth to a kitchen.

Replacing outdated appliances and flooring are great improvements that should be considered but may not always be part of your budget. Keeping a kitchen clean and maximizing space is key to getting buyers interested. Simple fixes just as keeping garbage cans, and pet bowls etc. out of sight can make a kitchen seem more appealing to potential buyers.

First, the Federal Reserve Board mortgage backed securities (MBS) purchase program will expire.  This program has kept home interest rates artificially low for over a year.  The purchase program will be concluded by the end of March.

There is a wide range of expectations in the investment community about the impact of the end of the MBS purchase program on mortgage rates. The Fed has been purchasing roughly 75% of new MBS issuance, and a decline in demand from one source normally leads to higher yields to attract other buyers. One argument, however, is that the end of the program has been expected for quite a while, so mortgage rates already reflect the news, and there could be little reaction over coming months. Other analysts predict an increase in mortgage rates of as much as one percent. The Fed itself expects a small increase in mortgage rates as a result of the end of the program.

Second, the office of Housing and Urban Development will be implementing a couple changes this spring that will have significant effect on closing costs for those buyers acquiring a Federal Housing Administration (FHA) backed mortgage.

On April 5 the cost of required up-front mortgage insurance for FHA loans will increase from 1.75% to 2.25%.  For a borrower purchasing a $155,000 home with a 3.5% down payment, the up-front mortgage insurance will increase $747.  This amount will not make a huge impact on the monthly payment, however it is still an increase in cost to the borrower both at closing and monthly.

Furthermore, later this spring, the amount of money a seller can contribute from their proceeds to the buyer in the form of points or closing costs is going to be reduced from 6% to 3%.  This can increase the amount of cash a buyer will be required to pay out of their own pocket at closing.

The best way to avoid these increases in costs is to have your FHA mortgage applications submitted to your lender by the end of March.  If you have any questions, please feel free to call me at 701-238-2582.