Renovation SOS

Licensed contractor John DeSilvia comes to the rescue of distraught homeowners who have seen their homes left in shambles by the contractor they hired to fix it. Bad plumbing, shoddy framing, being structurally unsound: These are the complaints that homeowners have after hiring a bad contractor. DeSilvia steps in to make everything right, but he only has a few days in which to do it. After John and his team finish their work, these homeowners won't recognize their place.

 "Rescue My Renovation" crews demolish, build, renovate and refurbish projects in Tri-State area homes. “If you have been a victim of a contractor who has done shoddy work on your home, they want to hear your story,” Firstbrook said. If you would like to be considered for the new series and are currently living in nightmarish conditions, email casting@boywonderproductions.net.

The Fate of Rates

Last week, Bernard Bernanke startled many by announcing that the Fed will not wind down their bond buying program right now. The program is part of an overall stimulus package geared at bringing back the national economy. The Fed’s purchase of these bonds over the last few years has driven mortgage rates to historic lows. The assumption that there would be a reduction in bond purchases has caused 30 year mortgage rates to spike upward over the last few months. Surprisingly, Bernanke revealed the Fed will continue bond purchasers at the current pace.

 What does it mean to mortgage interest rates? Some buyers are waiting to see if interest rates will come back down before making a decision about buying a home. Though no one can guarantee where rates will be in a few months, we don’t believe waiting is a good strategy.

Most experts believe rates may actually move higher. The Mortgage Bankers Association,Fannie Mae, Freddie Mac and the National Association of Realtors are in unison projecting that rates will continue to climb.
With home prices increasing and interest rates projected to also increase, the cost of buying a house could quickly increase rather dramatically.

NJ Cash Buyers Grow to 45% of Housing Market

As interest rates climb steadily, the proportion of cash purchases that are taking place in New Jersey has made it one of the top 10 markets in the country for investors. In addition to rising interest rates, the reluctance of big banks to make mortgages easily available has also become a significant contributing factor, as well.  

Finally, given their propensity to pay for real estate purchases with cash, in whole, and up front, institutional investing has also been a huge contributing factor Cash sales: 45.0% Median list price: $279,900 institutional sales: 3.1%

Mining Ethics From the Wind

Ethical Electric is America's first supplier of exclusively 100% renewable energy. They characterize themselves as "the good guys" in the energy industry. Their goal is to power as many American homes and businesses as possible with 100% clean energy from renewable sources like wind and solar.

Ethical Electric intends to use their profits to fund causes that benefit our planet and "advance equality, peace, justice and opportunity." To spread the word, they're partnering with some of such prominent environmental organizations as the Sierra Club, the League of Conservation Voters and the Wilderness Society.

Switching is fast and easy - you'll still get the same bill, the same service, over the same wires. All that changes is that instead of powering your home with dirty energy, like oil, gas and nuclear, funding dirty politics, your electricity will be 100% from local, renewable sources and a share of your electric bill will help support their affiliated environmental causes.(click on photo to enlarge)