Patty McMillen

The Federal Housing Administration (FHA) plans to inpose significant restrictions on the amount of money that sellers can contribute at closing in the near future. The FHA also will be raising its mortgage insurance premiums during the coming weeks, increasing charges for new purchases acrosss the board.

I would like to congratulate our entire office for receiving the 2011 Pinnacle Franchise Award from Realty World! Way to go! We had a total on 472 unit transactions and a sales volume greater than $90 million.

I also will be receiving a Premier Salesmaster Award for over 7.5 million in volume or 30 closed transaction units. My numbers were 35.5 units and $8,687,913 in volume.

Congrats to all of the Award winners both in office and franchise wide!

I am so thankful to be in a career which I love and am recognized for my hard work and dedication!

Don’t miss an opportunity to purchase this unique home. Call me today and schedule an appointment for a showing.

First Time Buyers

Median age: 31

Median Income in 2011: $62,000

Cost of Home Purchased:  $155,000

Market Share of all Buyers: 37 percent

Home Sellers

Median Age: 53

Median Income: $101,000

Moved in to a large home:46 percent

Moved in to a smaller home: 23 percent

Median time in the home: 9 years

If your thinking of remodeling be sure to think about what will offer the best return on your investment. Instead of just storing Christmas decorations in your attic you may consider converting part of the attic into an extra bedroom, average cost is about $50,000 which you can recoup 72 percent of the cost when your sell.

On the other hand, the addition of a master suite average cost could be up to $200,000 will only recoup just over half of your investment.  If you have been thinking about sprucing up your outdoor space now may be the time to add a new deck.  The average cost is just over $l0,000 this investment will recoup up to 70 percent, wood will recoup up to ten percent more on your investment.  Some other investments include replacing windows with insulated vinyl or wood models, you can recoup up to 70 percent of this cost.  Remodeling a bathroom you could recoup up to 62 percent.  Just remember you never know when you will move so make the right choices in return on your investment!