iPhone 3G Property App

Someone has built a property App for the iPhone 3G according to Zoomf, a UK Property Blog.

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Mortgage Refinance

Guest Post by Peter Thompson

My company, Professional Mortgage Partners, is one of the largest and most respected mortgage bankers in the Chicago area. We work with over 70 correspondent lenders so we have access to the most programs and best mortgage pricing. We offer a wide variety of loan programs including below market rate First Time Home Buyers Loan programs. We process, underwrite and fund the loans ourselves. Our fees are low, our interest rates are always competitive and the service will knock your socks off.

With the economy slowing, more and more consumers are feeling the squeeze. In times like these it is crucial to find ways to save money and get your finances in order. One of the biggest ways for home owners to save money is through a mortgage refinance. A Chicago Mortgage Refinance can save money in several ways. You can benefit by lowering your interest rate, switching from an adjustable rate into a fixed rate mortgage and consolidate your debts. By restructuring credit cards and installment loans and putting them in to a new mortgage, you may be able to improve your cash flow and save hundreds of dollars each month. This can be a great money saving move, but with changes in the market it is more  difficult to do now than at any time in recent years.

Refinancing is still the best option for many home owners, but these are some obstacles you need to be aware of:

Tightened credit standards. Conventional mortgages require higher credit scores now than they did just a year ago. In order to get the best rate, your credit score will need to be above 750.

Income has to be verified. Over the last several years, many people bought their homes without verifying their income. Those buyers who can’t prove that they make enough to qualify for a loan now have few options.

Tighter underwriting standards. It is harder to qualify for a conventional mortgage now for a number of reasons. More home equity is required and the debt to income ratios are not as lenient as they used to be.

Mortgage subordinations are harder to get. If you have a home equity loan or second mortgage, you will need to get the lender to agree to subordinate this to the new first mortgage. This used to be nearly automatic. Now, many second mortgage holders will not allow any change, even if it might help in the long run.

Appraisals are a problem. This is probably the biggest reason that refinancing is harder than in the past. With property values down across the country, many homes are worth less than the balance of their mortgage. This is especially true for home owners who bought with low down payments over the last few years, but even owners who have been in their homes for longer are affected.

This combination of factors means that many homeowners who would benefit the most from a mortgage refinance, will not be able to refinance. There are still some options like FHA which will allow for more people to qualify, but even if the interest rates drop, many people will be stuck in their current mortgages.

Geothermal Association of Ireland Hosts Full Day Conference

The Geothermal Association of Ireland is hosting a full day conference titled ‘Geothermal Resources in Ireland – Commercial Opportunities’, on 5 November 2008. The conference will be held at the NewPark Hotel in Kilkenny.

The conference will include high level presentations from leaders in national government, industry associations, commercial developers, academics, geologists, engineers, banking and legal institutions. Minister Eamonn Ryan will be the Guest Speaker.

Topics include: Geology/Hydrogeology issues in Ireland, the Newcastle Deep Borehole Project, Contractual Arrangements for Operation of District Heating Schemes, Legal & Banking issues of geothermal developments, Case studies and a Report from the GTRH group.

This conference is an excellent networking event to meet those directly involved in developing geothermal resources.

Come along and learn about the growth opportunities for the geothermal industry, both shallow and deep, open and closed, in Ireland over the next few years.

Please see http://www.geothermalassociation.ie/events/ for more information or contact GAI Events Officer Laura Steerman at 086 3095535 or info@geothermalassociation.ie

Kindly sponsored by Geothermal Energy Ltd, Philip Lee Solicitors, IGI, Planet Earth and Enviro-Solutions.com

Bank of Ireland Trouble

Bank of Ireland is short of cash. Although it is not in such dire straits as HBOS and Bradford & Bingley, it desperately needs a huge injection of capital to fund an increasingly unhealthy loan book.

Read the rest of the article here

Architectural and interior design company opens in Gorey, Co Wexford

Champagne corks popped and glasses were raised to launch Gorey’s newest business last week. On Friday night, Anthony Masterson, Wexford ‘s footballing goalie, launched Hayes & Boland Ltd Design Studios , an architectural and interior design company, marking its official take-off at its offices at 4A The Palms on The Avenue just off Gorey’s main street.

Top members of Gorey’s business community were on hand to support the new firm, which will specialise in domestic and commercial projects. “We’re delighted to be opening in Gorey, as it’s a thriving town and a gateway to the South East,” said director Stephen Hayes. His co-director, interior architect/designer Mary Boland and architect Gaston Béhal, were also on hand to greet family, friends and prospective clients.

“We provide architecture and interior design for creative house designs and extensions, hotel and leisure developments, commercial and industrial designs,” said Stephen. The company also provides project management, energy rating certificates for existing and new builds, and submits planning applications to the relevant local authorities.

Between them, the locally-based team brings almost 30 years’ of experience to their new venture, including work on projects as diverse as schools, offices, apartments and domestic dwellings, office fit-outs, pubs and, hotels.

If you’re thinking of building or extending, why not call in and meet the team at their weekly free Open Information Evenings, held at Hayes & Boland’s offices in The Palms every Thursday, from 5.30pm-9pm. Consultations by appointment only.

To contact Hayes & Boland or make an appointment, phone 053 948 9537.

Ends

Issued on behalf of Hayes & Boland Ltd by
Deirdre O’Flynn
SpellCheck editorial services
www.spellcheckeditorial.com

What type of mortgage company is best?

An excellent article from Peter Thompson of Illinois Mortgage Rates and News – helping people to understand what type of mortgage company is best for you.

Pete Thompson is an Illinois Mortgage Broker who I know provides superior mortgage service and competitive mortgage rates in Chicago, the Chicago area and throughout Illinois.

House prices to fall by one third

Irish house prices could fall by as much as a third according to a report by Goodbody Stockbrokers.

House prices are tumbling and the end isn’t in site just yet.

Read more in the Herald.

Commercial property activity in Ireland plummets

The commercial property investment market in Ireland is at a virtual standstill and substantial yield increases are needed to improve the situation, according to analysts.

Since the beginning of the year only €392 million of Irish investment deals were signed, according to a new report from CB Richard Ellis Ireland. This compares with €1.9 billion in the same period in 2007.

Read the full article at Property Wire

Palm Springs Real Estate

Last summer I had the pleasure of visiting Michael Layton from Palm Springs Real Estate.

To say the man is a real estate guru would be an understatement. He has 18 years experience in the real estate industry.

Michael showed me a couple of the homes he represents over in Palm Springs and I found myself getting pretty jealous.

Palm Springs has long been a celebrity hideout for the rich and famous, but its calm cool atmosphere has attracted many average folks too.

Located 107 miles east of Los Angeles it’s a great place to live.

Palm Springs is sheltered by the Little San Bernardino Mountains to the north, Santa Rosa Mountains to the south, and the San Jacinto Mountains to the west – giving Palm Springs its beautiful climate of 354 days of sunshine and less than 6 inches (150 mm) of rain annually.

Daft Media Invests in Boards.ie

Daft Media, owner of leading property website Daft.ie, today announced the acquisition of a minority stake in Boards.ie for an undisclosed sum.

Boards.ie is Ireland’s largest community website and attracts an audience of approximately one million monthly unique visitors. The investment will help strengthen the position of Boards.ie as a top Irish brand and online destination. There will be continued investment in Boards.ie in order to maintain growth and seek out new audiences. Over the longer term, both companies have committed to continue to provide an independent and neutral platform for Irish consumers to voice their opinions.

“We are very happy to welcome Daft on board as partners in Boards.ie”, said Gerry Shanahan, Managing Director, Boards.ie. “This investment will give us the ability to invest further in infrastructure, to add more features to the website and ultimately provide an improved service to our community of users.”

Commenting on the investment, Eamonn Fallon, CEO, Daft Media “We strongly believe the future of media is online and Boards.ie is well positioned to be a leading player in Irish online media. Our combined audience is over 2.1 million unique viewers every month which is larger than most TV stations in Ireland. We are very happy to be working with the Boards.ie guys and look forward to helping them grow their business”.

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