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Archive for December, 2010

December 30, 2010 Present Value’s Year in Review 2010

As we bid farewell to 2010 this weekend, it’s important to reflect back on all the things that we’ve seen and learned this year. To start, check out New Year’s 2010 blog. January seems so long ago, but we saw the FHA change its rules for home borrowers, raising its upfront mortgage insurance premiums. In [...]

December 28, 2010 Small Business Jobs Act of 2010 Could Be Boon for Small Businesses in 2011

A recent article from Fox Business, “Expect More SBA Loans in 2011,” discusses how the Small Business Jobs Act of 2010 (H.R. 5297) could potentially benefit small businesses in 2011. In addition to other provisions, the most welcome news for small business owners is that Small Business Administration (SBA) lending is supposed to increase this [...]

December 23, 2010 Mortgage Rates Are Rising

If you were waiting for mortgage rates to hit rock bottom before purchasing a home or refinancing, you may be too late. Mortgage rates in 2010 were the lowest they’ve been in six decades, but since mid-November, fixed rates for 30-year mortgages have steadily increased. The Mortgage Bankers’ Association predicts that this trend will continue [...]

December 21, 2010 Present Value to All, and to All a Good Appraisal

‘Twas the week before Christmas, and throughout the town People’s spirits were high, but home values were down For the sluggish economy still wouldn’t budge Despite everyone trying to give it a nudge Little Erica’s mortgage was still underwater Just one of the lessons the recession had taught her And little Jimmy’s home had pulled [...]

December 16, 2010 The Appraisal Foundation Releases Fourth Exposure Draft of proposed changes for the 2012-2013 Edition of USPAP

On December 10, 2010, The Appraisal Foundation’s Appraisal Standards Board (ASB) released the fourth exposure draft of proposed changes for the 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice (USPAP), and requests public comment. The goal of USPAP is to promote and maintain a high level of public trust in appraisal practice by [...]

December 14, 2010 Sales of Businesses Are Down Significantly

This week’s “You’re the Boss” blog in The New York Times is geared toward those trying to sell a business in these tough economic times. Tellingly, the piece is titled, “Business for Sale? Good Luck.” According to the article, buyers are reluctant to leap into making a purchase and sellers are waiting for business to [...]

December 9, 2010 When Those Who Can Buy Won’t

According to an article on Boston.com, more and more couples and individuals who are financially able to buy a home are choosing not to. The battered real estate economy is still sputtering, foreclosures are an everyday occurrence, and many homeowners are still underwater, so it’s hardly surprising that first-time homebuyers are scarce. Owning a home [...]

December 7, 2010 SEC: Companies Will Need Time to Adopt International Financial Reporting Standards (IFRS)

SEC Chairman Mary Schapiro announced on December 6, 2010, that public companies will be given at least four years to adjust to International Financial Reporting Standards (IFRS) if the SEC should decide to require the standards, according to the article in the Journal of Accountancy, “Schapiro, SEC Staff Want Companies to Have Ample Time for [...]

December 2, 2010 FHA Rule Changes Now in Effect

Last month, the Federal Housing Administration (FHA) made two major changes to the mortgage insurance that is paid by home buyers seeking FHA-insured loans. The first change raises the borrowers’ monthly insurance premium. It used to be approximately .5% of the loan balance, but is now approximately .9% of the balance. The other change lowers [...]