Are incandescent bulbs a thing of the past?

More and more people are starting to focus their attention on ways to reduce the US consumption of energy and now Congress is thinking about taking some action.  There has been proposed legislation that would effectively eliminate incandescent light bulbs from store shelves nationwide as early by 2012.  If every U.S. home replaced one light bulb with a compact florescent light, the country would save more than $600 million in annual energy costs, according to the government.  Not only will this help reduce energy consumption it will also help save consumers money on their annual electric bill.

Read the whole article here.

Countrywide taps $11.5 billion credit line AND First Magnus halts loans!!!

Countrywide taps $11.5 billion credit line AND First Magnus
halts loans all in the same day. Wow, things are going to
tighten even more. This will definitely not be good for a
bunch of people.
Check out the articles by following the links below.

http://news.yahoo.com/s/nm/20070816/bs_nm/countrywide_liquid
ity_dc_10
http://www.azstarnet.com/sn/relatedstories/196683.php

New Home Construction Slows to 10 year low

The construction of new homes and apartments has fallen to the lowest level since January 1997.  Anyone that has been following the real estate market new this would be coming.  Builders are in a world of hurt and are just looking to get rid of existing inventory before jumping into new construction.  The current mortgage industry in turmoil is also taking its toll on the market making it much more difficult for buyers to get approved for loans especially those with less than perfect credit.  The nations largest mortgage lender, Countrywide Financial Corp., will be cutting out most subprime, alt-A and jumbo loan products.  This is not going to help the glut of homes on the market.

You can read the whole article here.

Incentives of $100,000 or more!!!

With the housing market continuing to not look too good new
home builders are offering all kinds of incentives. From
offering to pay two years of property taxes and insurance to
paying 4 months of mortgage payments to giving $100,000
toward upgrades.

If you want a new home, now may be a great time to get one.

Read the article here.