Fixed-Rate Mortgage Rates Flat This Week

Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.37 percent, with an average 0.6 point, for the week ending November 17, 2005, up very slightly from last week's average of 6.36 percent. Last year at this time, the 30-year FRM averaged 5.74 percent.Full Story: http://realtytimes.com/rtcpages/20051118_rates.htm

Pro-consumer Mortgage Rate-Quote Pricing Alert Reform Bottled up at Federal Agencies

A new notification to home mortgage applicants, alerting them to higher rate quotes triggered by their credit bureau data, is still bottled up at two federal agencies, 23 months after Congress mandated development of "risk-based pricing" notification program. Consumer groups upset by the delay. FTC has no target deadline for implementation. Ken Harney reports.Full Story: http://realtytimes.com/rtcpages/20051121_ratequote.htm

Why Congress Is Fighting The Supreme Court

This summer the Supreme Court ruled that government could take your home to benefit someone else. Efforts to effectively overturn the Kelo decision are now underway in Washington. Peter G. Miller comments.Full Story:

http://realtytimes.com/rtcpages/20051115_congressfighting.htm

Tax reformers target mortgage interest and property tax deductions

presidential panel charged with simplifying the U.S. Tax Code has issued a series of bold recommendations that include the reduction or elimination of a number of existing tax incentives to home ownership. Among the most significant revisions proposed by the President Bush’s Advisory Panel on Federal Tax Reform are the conversion of the mortgage interest deduction into a tax credit and elimination of the deduction for state and local property taxes. As part of its plan, the tax panel also has recommended the repeal of the alternative minimum tax and new limits on charitable deductions to contributions above 1 percent of income.
http://www.marealtor.com/secure/components/inNewsLetter/letter/preview.asp?site_id=&newsletter_id=106&tm=11/8/2005%2B6:41:59%2BPM&fromFrontEnd=yes#887

New law requires carbon monoxide detectors in Bay State homes

Under new legislation signed into law last week by Gov. Mitt Romney, Massachusetts has become the ninth state in the U.S. to require carbon monoxide detectors for residential dwellings.

http://www.marealtor.com/secure/components/inNewsLetter/letter/preview.asp?site_id=&newsletter_id=106&tm=11/8/2005%2B6:41:59%2BPM&fromFrontEnd=yes#886

Flu clinics Town of Barnstable

http://www.town.barnstable.ma.us/Health/FluClinic.asp

Affluent Bullish On Home Values

Do the affluent know something doom-saying real estate crystal ball gazers and economic soothsayers don't? Scuttling the bubble hubbub, luxury consumers are putting their money on real estate.Full Story: http://realtytimes.com/rtcpages/20051004_affluentbuyer.htm

Is Now The Time to Rent?

With home values soaring nationwide, is now the time to rent? In many areas renting may well be attractive -- or is it? Peter G. Miller comments.Full Story: http://realtytimes.com/rtcpages/20051004_timerent.htm

New Service for Prospective Homebuyers with Artificially-Depressed FICO Credit Scores

Independent credit reporting agencies are teaming with the only national credit bureau that collects and maintains rent, utilities, cable and other payment data ignored by Equifax, Experian and Trans Union. Realty agents and loan brokers will be able to obtain supplementary credit reports and scores to help qualify buyers with nontraditional credit histories. Ken Harney reports.Full Story: http://realtytimes.com/rtcpages/20051003_creditscores.htm

Do Lenders Care?

I recently read an article quoting a prominent real estate agent expressing his fears that foreclosures were on the rise and that lenders shouldn't be making loans to people who don't deserve them.Full Story:

http://realtytimes.com/rtcpages/20050930_lenderscare.htm

Future Rates May Depend on September Jobs Report on Hurricane's Effects

Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.91 percent, with an average 0.5
point, for the week ending September 29, 2005, up from last week when it averaged 5.80 percent. Last year at this time, the 30-year FRM averaged 5.72 percent.Full Story:

http://realtytimes.com/rtcpages/20050930_sarasota.htm);

8th Annual Silver Plate Dinner

The Friends of the Barnstable Council on Aging are pleased to announce the 8th Annual Silver Plate Dinner, to be held on Tuesday, October 11th, 2005.The Silver Plate is a unique opportunity for area residents to support the Barnstable Senior Center just by eating breakfast, lunch or dinner at one of the many fine restaurants in our area on Tuesday October 11th. Participating restaurant partners will donate 10% of their proceeds for the day to the Senior Center to help support the many classes and activities available to Barnstable residents. In addition, funds raised will help go towards finishing the lower level of the Center.This year, we are pleased to have four generous sponsors for the event; Whitehall Estates, Home Instead, Cape Cod Cooperative Bank, and Robert J. McGowen, MD.Joining you in this fundraiser are some of the area’s ‘celebrities.’ State Representative Demetrius Atsalis will be eating at the Roadhouse Cafe; Erin Healy of Prime Time Cape Cod will be at the Brazilian Grille; David Stills of the Barnstable Patriot and Town Councilor Janice Barton will be joining the gang at Spanky’s Clamshack. State Representative. Jeff Perry will be eating at the Barnstable Tavern. Town Councilor Ann Canedy will be at the Dolphin. Additionally, Lynne Poyant of the Hyannis Chamber will be dining out at the Naked Oyster to support the Barnstable Senior Center.For more info on this fundraiser, as well as other events and programming at the Barnstable Senior Center, please call us at 508-862-4750.


Participating Restaurants

Alberto’sAmari’s
The Barnstable Tavern
Black Cat
Bobby Byrne’s
Box Lunch
Brazilian Grille
Caffe e Dolci
The Dolphin
Five Bays BistroGrille
16Island Merchant
Mattakeese Wharf
Naked Oyster
The PaddockRoadhouse
CaféRoo Bar
Sam Diego’s
Spanky’s Clamshack

The F.U.N. Program of Cape Cod Child Development

Saturday, October 29th, 20053:00-5:00 pmVillage Green, Main Street, Hyannis

Hay ride
Trick or Treat Hunt
Kids come in costume
MoonwalkFood
Balloons
Picture with the witch
Carnival Games
*Craft Table
*Sensory Activities
*Petting ZooSpooky Music

(* Supported by a Grant from the MA Department of Education)

SENIOR CENTER NEWS

Medicare Part DThe time is getting close to make a choice. Enrollment to the plan will begin on November 15th. The Senior Center will be offering more presentations on the new Federal Medicare drug program, Part D. If you haven't been to one of the general reviews now is the time to sign up for one. On Thursday, October 6th, at 1:30 p.m., we will offer a general review of the program and how it is going to work and affect seniors. Medicare Part D, Choices, will be on October 20th and November 3rd at 1:30 p.m.. We will be offering two opportunities to learn about the choices you have to make from the different companies that will be offering plans. We will try to compare the plans to help you get the best one to suit your needs. Please sign up at the desk for either or both, the general Medicare D or Medicare D choices workshops, 508-862-4750 to save a seat.Fuel AssistanceWe are looking at a long cold winter with probably very high fuel costs. We will have the applications for fuel assistance the first of October. If you are single and your income is $19,140 or less, or you are married and your income is $25,660 or less, you are eligible for fuel assistance. The form is very simple and completely confidential. So please call Support Services, Outreach Department for information. You can reach Claudia at 508-862-4754 or Judy at 508-862-4752.Chicken Soup for CaregiversIf you or someone you know is a caregiver (friend, neighbor, or family member) please join us on October 20th @ 3:30pm for a hearty serving of homemade Chicken Soup and learn what we are doing to help caregivers in our community. All are welcome, just RSVP 508-862-4750. This program is supported in part by a grant from the Older Americans Act administered through your local Area Agency on Aging, Elder Services, Inc.

COMING NOVEMBER 9TH, 1ST ANNUAL PIE AUCTION & BAKE SALE AT THE SENIOR CENTER FROM 2:00PM- 4:00PM. DON'T MISS OUT...GET THE BEST HOMEMADE PIES & BAKED GOODS IN TOWN

Dowes Beach Deck Dedication and Fishing Contest - 10/01/05

Join Barnstable Recreation for a day of fishing at our new handicap accessible fishing pier made possible by Al Melcher and the Disability Commission!
Bring your favorite pole or borrow one!
FREE bait available (Thanks to The Powder Horn Outfitters)
Prizes for the largest fish! (Thanks to Sport Port)
508-790-6345 for more info
Dedication Ceremony at 10:30
Former and present H.P. Patrol people - R.S.V.P - Al at 508-428-9461
All media welcome

Town of Barnstable Senior Services

Over the years, the Division has been an advocate for seniors in Barnstable. From transportation to housing to health care and adult day care, the Senior Service Division has been an outspoken voice for the needs of Barnstable's seniors.

http://www.town.barnstable.ma.us/tob02/Depts/CommunityServices/SeniorServices/default.asp


Services
Senior Center INformation
Adult Social Day Services
Agencies with Financial Support
Elderly Tax Exemption
Food Pantries
Housing Options for Seniors
Outreach Services
Transportation Services
Volunteer Opportunities
September Senior Center Calendar
News
PHOTO GALLERY!
Friday movies at the Senior Center - September
Monday afternoon movies at the Senior Center - September

HUD Settlement With Coldwell Banker Sends "Affiliated Business" Warning To Realtors.

A $250,000 settlement between HUD and Coldwell Banker Residential Real Estate, Inc. focuses fresh attention on realty broker "affiliated business" joint ventures with title, mortgage and other companies. Dozens of affiliate deals may be under investigation for RESPA infractions. Ken Harney reports. FULL STORY->

http://realtytimes.com/rtcpages/20050919_hudsettlement.htm

The 'Sweet Spot of Flipping'

Three to six-months is just about the right amount time to hold a property for investors who engage in the legitimate practice of buying undervalued or distressed houses, making a few repairs and putting them back on the market for a quick sale -- and, as it turns out, to "reap almost incredible returns," according to a new study. Lew Sichelman has the details. FULL STORY->

http://realtytimes.com/rtcpages/20050921_flipping.htm

Energy Concerns Reflected in Design and Features of Homes

A survey by the American Institute of Architects shows that rising gasoline costs are sparking a demand for home offices. FULL STORY->

http://realtytimes.com/rtcpages/20050922_energyconcerns.htm

Website To See: AARPs Online Identity Theft Seminar

A consumer advocate for a group that once gave rise to the self-help, do-it-yourself culture, has taken a lead position in do-it-yourself identity theft protection by creating a unique virtual classroom on the subject. FULL STORY->
http://realtytimes.com/rtcpages/20050922_identitytheft.htm

The One- and Five-Year ARMs Rise As Well

Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.89 percent, with an average 0.5 point, for the week ending August 11, 2005, up from last week when it averaged 5.82 percent. Last year at this time, the 30-year FRM averaged 5.85 percent.Full Story: http://realtytimes.com/rtcpages/20050812_rates.htm

Energy Policy Act of 2005

by Broderick Perkins
The nation's most comprehensive new set of energy regulations in more than a decade will give consumers nearly $800 million in home-energy tax breaks beginning in 2006.
Officially dubbed the "Energy Policy Act of 2005 (EPACT)", the new regulations establish the nation's energy policy for the foreseeable future.
With the price of oil appearing stuck above the $60-a-barrel level, President Bush was expected to sign the measure into law at a ceremony in Albuquerque, NM on Monday, Aug. 8. Congress passed the measure last week.
The first national energy policy overhaul since 1992 touches on virtually every conceivable facet of energy, including the production of fossil fuels, nuclear power and renewable energy as well as utility mergers, petroleum markets, new energy facilities and energy conservation.
Beginning in 2007, daylight-saving time will become a month longer running from the second Sunday in March to the first Sunday in November. With an estimated 1 percent savings in household energy bills, consumers are expected to feel a bit sunnier.
A better deal than emotional bliss, however, is cash on the barrel head, and along with tax incentives for businesses, Congress has also given consumers almost $800 million in home-energy tax breaks beginning next year.
According to the Department of Energy, with $874 million earmarked for drivers who buy alternate-fuel vehicles over the decade, EPACT's benefits for consumers' households include a host of tax credits. Tax credits, by the way, are deducted from the amount of tax you owe
They include:
Tax credits topping out at $500 in 2006 and 2007 for money spent on existing homes to upgrade heating and air conditioning systems, insulation, windows, doors and thermostats, caulk leaks, install pigmented metal roofs and otherwise put the bite on energy waste. The write-offs break down with a maximum tax credit of $200 for windows, $300 for air-conditioning, heat pumps and water heaters, and $150 for installation of a highly efficient furnace or boiler.
The day President Bush signs the new law, contractors who build new energy-efficient houses can claim a new tax credit worth up to $2,000. Appliance manufacturers get similar tax credits for engineering more energy-efficient appliances to meet 2007 Energy Star standards. While builders and appliance makers aren't expected to pass their tax break onto consumers, some indirect benefit should come in the form of lower energy bills.
Homeowners who install solar energy systems can claim a tax credit of up to $2,000 for hot water and power generating systems not used to heat swimming pools and hot tubs. Smaller credits are available for fuel cell and photovoltaic power sources. California and some other states and jurisdictions have similar tax credit or rebate deals already in place.
Consumers who park alternative- and clean-fuel burning cars can receive tax credits worth from $1,700 to $8,000 or more. The existing credit for electric cars was extended beyond 2006 when it was due to expire.
Entrepreneurial consumers can also claim a 30 percent credit for the cost of installing clean-fuel vehicle refueling property used in a trade or business of the consumer or installed at the principal residence of the taxpayer.
Published: August 9, 2005

Bubble theorists overlook Bay State’s lack of housing production

Top Story from Realtor Digest, Massachusetts Association of Realtors

New data from the U.S. Census Bureau shows that Massachusetts is adding housing more slowly than nearly every other state in the nation, and the lack of new housing production since the start of this decade is among the key factors contributing to the sharp increase in local home prices since 2000. While speculation over the existence of a housing price “bubble” appears to grow every day in the news media, these reports, for the most part, overlook the economic fundamentals of supply-and-demand at work in the Bay State housing market.
Notably, last year, single-family home sales set a record in Massachusetts, and three of the top five years for home sales in the Commonwealth have occurred since 2000 – triggered largely by low mortgage rates and strong demand from baby-boomers and minority and immigrant buyers. During the same time period, the number of new housing units has grown just 1.9 percent across the Bay State, compared to 5.8 percent nationally.
The result has been steady gains in home price appreciation. The average selling price for detached single-family homes and condo in Massachusetts has risen 47 percent in five years, from $261,293 in 2000 to $385,755 in 2004, with double-digit price appreciation occurring in three of those years and four times in the past six years.
While investor activity has increased during this period and new mortgage products have been developed to allow buyers to purchase more home, the upward pressure on prices is due largely to a constrained housing supply. Although multifamily housing starts have doubled in recent years to nearly 7,000 units annually, single-family housing production remains well below existing demand, primarily because of restrictive zoning laws and cumbersome permitting processes, REALTORS® and other housing advocates note.
Gov. Romney has vowed to substantially increase housing production during his term in office, to twice what is was in 2003 when he took office, but the challenge has proved greater than initially thought. Half way through his first term, total housing permits have increased just 29 percent, from 17,465 units in 2002 to 22,477 units last year. The inventory of homes and condos for sale may be up sharply over the past year – by more than 9,800 units or 24 percent – but that’s largely the result of today’s more modest sales pace and existing supply that has not been priced properly to sell. New housing remains slow to come on to the market. Significantly, predictions that home values will fall – such as the PMI US Market Risk Index that puts greater Boston at a better than 50 percent probability for experiencing price declines – fail to account for the local regulatory and land use policies that severely limit new housing development in the Bay State. The more likely reality is that home prices will continue to increase, just at a more modest pace – like the 5-6 percent annual appreciation in median single-family home values observed statewide from April-June.

Learning How Your Credit Scores

Do you understand your credit score? Find out more at:

http://realtytimes.com/rtcpages/20050805_creditscores.htm

Looking for real estate on Cape Cod, Massachusetts? Go to: www.capecodrelo.com . Search all MLS listings, find great hints for Buyers and Sellers, up to date real estate news, a mortgage calculator and so much more. All free, all no obligation.

Today's Mortgage Rates

According to Freddie Mac a 30-year fixed-rate mortgage averaged 5.82 percent, with an average 0.6 point, for the week ending August 4, 2005, up from last week when it averaged 5.77 percent. Last year at this time, the 30-year FRM averaged 5.99 percent.
The average for the 15-year rate this week is 5.38 percent, with an average 0.6point, up from last week when it averaged 5.34 percent. A year ago, the 15-year averaged 5.40 percent.

Rates are expected to inch slowly and slightly upward. Any rate at or around 6% is still fabulous!

Looking for Real Estate on Cape Cod? Go to www.capecodrelo.com.

Artist Shanties Add Charm To Waterfront

The new artist shanties located at the Ocean Street docks in Hyannis add a certain charm to the old fishing harbor. Open daily from 11-7, featuring local artists and craftsmen.

Looking for Real Estate on Cape Cod? Go to www.capecodrelo.com for all your real estate needs

What's Happening in August On The Cape?

Pops By The Sea
August 7th 5-7 at the Hyannis Village Green.

Movies On The Village Green in Hyannis

Every Tuesday At Dusk. Festivities Start With Music, Followed By Vintage Family Movie.

Farmers Market

Local organic grown produce. Every Wednesday 8 am 540 Main St., Hyannis

Barnstable Town Band

35 piece band plays summer time favorites at the Bandstand on the Village Green 7:30pm

Wednesdays

Strolling Muscians

Every Thursday at 5pm Main Street Hyannis

Hyannis Sound

Every Friday at 8pm at the 1st Baptist Church on Main St, Hyannis

Cape Cod, Ma Real Estate

Welcome To All Around Cape Cod. People Helping People... Life On Cape Cod... Sand In Your Shoes... The Sound and Taste Of The Sea... Family, Friends...That's What It's All About. Cape Cod Homes...How Can I Help You?

www.capecodrelo.com