All Homes Aren't Created Equal - What's Your Architectural Style?

There are many different kinds of architectural home styles. Like people, architectural styles have a personality all their own. So if possible and depending the stage of life and affordability we are in, we are more likely to pick a style home that either compliments or is much like our personality style. There are so many styles of homes to suit the needs and wants of everyone in every country. For example: Some architectural style homes are more popular then others and some styles are only found in one country or a specific part or region of a country. Certain architectural style homes require more maintenance then others, while other styles are more suited for children and families. Some styles are flat, plain or curved and some have ornate designs. Although I have lived in several different architectural style homes, the style that most compliments my personality is more Victorian, French Provincial or Neo-Classical. Here are just a few of the more common architectural home styles. Which one do you think is most suited to your personality?

Colonial (1700-1850) This period style features a rectangular, symmetrical design and a simple formality.

Contemporary (1965-present) "Contemporary architecture" refers to today's diverse building types.

Cape Cod (1600's - 1930-1950) Early American settlers developed this northeastern U.S. style, which is known for its gabled roof and plain front.

Victorian (1840-1910) "Victorian" refers to several ornate architectural styles that developed during the Victorian era.

Art Deco (1925-1940) A mix of smooth swirls, curves and high-gloss finishes, Art Deco style evokes 1930s movie-star glamour.

Spanish Colonial (1890-1930) This style shows strong Latin influences and fosters a connection to nature.

Modern (1905-1965) The broad term "modern" includes several mid-20th-century architectural styles.

Neo-Classical (1885-1925) Recalling the architecture of ancient Greece and Rome, Neoclassical homes are formal and timeless.

Tudor Revival (1890-1950) Half-timbered exteriors, steep roofs and gables mark the Tudor Revival style.

Ranch (1930-1980) Single-story, open ranch homes are modeled after the casual style of true Western homes.

Picture above is from www.frontdoor.com and is Thomas Jefferson's Monticello in Virginia, the most famous neo-classical architectural style home. You can find more information on the different architectual style homes on www.frontdoor.com

Experts Say Now Is The Time To Buy

Many investment experts advise it's time to buy. With prices falling, it is a once-in-a-generation chance to load up on property, they say. How much of an investment portfolio should be devoted to real estate? David Swensen, who manages Yale University's endowment, says 20 percent is a smart number. One possibility is real estate investment trusts (REITs), which, despite the fact that they are slashing dividends to conserve cash, are still paying average yields of 7.3 percent. That’s double the yield on Treasurys. Should a home be part of the equation? Michael Kirby, founder of Green Street Advisors, says no. "You should own a house to provide shelter," says Kirby. "In a way, it's not an investment, and it's not part of your investment portfolio. It's really just a living expense. By owning a house you are prepaying rent."

Source: Forbes (08/03/2009)

*With homes at their lowest price in years in Las Vegas, now is definitely the time to buy and I can help! www.jennenesvegasrealestate.com

email: jennenes.vegasrealestate@yahoo.com

Las Vegas Breaks Record For Monthly Home Sales

Now here is a positive Las Vegas housing article to post on my blog!

Las Vegas breaks record for monthly homes sales
By Brian Wargo (contact) Wednesday, July 8, 2009 11:27 a.m.

What housing slowdown?
Las Vegas set a record in June with more existing homes sold than any other month in history, according to the Greater Las Vegas Association of Realtors. The group reported 4,702 single-family homes, town houses and condominiums were sold in June, topping the previous record of 4,414 sales in June 2004. Most of last month’s sales were existing homes, but the Realtors also handle some new homes.

In addition to the record number of sales, the median price of homes held its own for the first time in nearly two years. The median price of single-family homes sold in June was $140,000 — the same as May. That’s the first time there wasn’t a decrease in prices since August 2007 when they rose 1.7 percent. Prices have fallen 38 percent since June 2008 and 55 percent since the peak of $315,000 in June 2006. “I think it’s significant that we sold a record number of homes last month. We’ve been closing in on this mark for a few months,” Sue Naumann, president of the Realtors’ group, said in a statement. Naumann said it’s positive for the economy to have housing prices stabilize, especially when bank-owned properties are still dominating the market.
There is a strong demand from first-time buyers and investors, Naumann said.

In June, 3,785 single-family homes sold, a 16 percent increase over May and a 70 percent jump from June 2008. Also, 917 condominiums and town houses sold last month, a 24 percent increase over May and a 212 percent increase from June 2008. The median price of town houses and condos sold in June was $66,000, a 1.5 percent increase over May. The price is 52 percent below where it was a year ago.

The Basics: 2009 First-Time Home Buyer Tax Credit

Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers. Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009. To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes and co-ops.

How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors: The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000. The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.

If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit. The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.

Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.
Source: Realtor.org

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