 | The Contract Offer: What
Price To Start With
 When a decision is made to make an offer to purchase a home, be sure to go back and take a second look. It is so much easier changing your mind about a home before a contract offer is made than after a contract offer is accepted and signed by the seller. This second appointment would be a perfect time to bring along others who may have an impact on a buying decision, such as parents, friend, contractor, etc.
Go through the home a second time and look beyond the owner’s décor, whether it was the home just previewed,
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the first one seen earlier in the day or the one previewed last week. Why? There are many reasons, but most importantly is seeing if the second look creates the
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Campaign To Extend and Expand Housing Tax Credit
 A campaign to extend and expand the housing tax credit officially got underway on Capitol Hill last month.
Bills have now been introduced in both the Senate and the House to open up the credit, to all buyers, keep it on the books through next year, and get rid of the current income limitations.
On the House side, two Texas congressional representatives - one a Democrat, the other a Republican - have filed bills calling for a broadening of the first-time buyer credit to cover all home purchasers in the coming year, whether they already own houses or not.
Democratic Congresswoman Eddie Bernice Johnson of Dallas wants to extend the November 30 expiration date for the credit through the end of 2010. Her bill would also remove the income limits of the current program, which start phasing down the amount of the credit at $75,000 for singles and $150,000 for married couples.
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Going Green May Help
Sell Your Home
 It's becoming the buzz word in housing -- "green" homes are what many buyers are interested in these days. According to the National Association of Home Builders (NAHB), as much as 90 percent of home buyers think that energy efficiency is a very important factor when shopping for a home. These same buyers are also very interested in environment-friendly features including having housing close to parks, public transportation, and well-designed neighborhoods with sidewalks.
The National Association of Home Builders Remodelers (NAHBR) -- a council of NAHB -- says that most homeowners choose green remodeling projects to help conserve energy. NAHBR recommends the following top ways to increase energy efficiency. Install appropriate insulation in area to be remodeled. Install high-efficiency windows instead of those that minimally meet the energy code. Seal all exterior penetrations in areas being remodeled. Purchase only Energy Star®-rated appliances. Install only low-flow water fixtures. Upgrade to at least an Energy Star®
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Reshaping Fannie and Freddie
 Congress took its first step last month on a mission that could totally reshape the American mortgage market.
A House financial services subcommittee held the first hearing on what to do with Fannie Mae and Freddie Mac -- the failed, trillion-dollar mortgage giants that are now operating under direct federal control.
The ultimate answers are likely to determine the types of loans and interest rates that home buyers will have in the future. That's because Fannie and Freddie have dominated the real estate market for decades, writing the rulebook on everything from loan sizes, credit requirements, downpayments and underwriting standards.
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