in Data, Government, Origination, Secondary Market, Servicing The “”National Association of Home Builders””:http://www.nahb.org/ (NAHB) wants people to know they may not be saving money by purchasing older homes. With higher maintenance and upkeep costs, older homes may not be the bargain they appear to be, warns NAHB. [IMAGE]NAHB compared the cost of owning a home built before 1960 to the cost of homes built since 2008 and found that after taxes, the total cost of owning a home in its first year is about 23 percent more for an equally-priced older home. [COLUMN_BREAK]””Home buyers need to look beyond the initial sales price when considering to buy new construction or an existing home,”” said Rick Judson, chairman of NAHB. “”They will find that with the higher costs of operating an older home, they can often afford to spend more to buy a new home and still have annual operating costs that fit their budget,”” Judson said. Utilities, maintenance and property taxes for homes built before 1960 average about $564 per year, according to NAHB’s assessment, while these costs total about $241 for homes built after 2008. NAHB also touted other amenities unique to newer homes, including “”open space floorplans, creative storage options and entertainment resources that cater to modern lifestyles, as well as the safety consideration that the structure was built and wired to modern codes and standards.”” While there is quite a range of homes built between 1960 and 2008, the home builder group did not release any findings on operating costs for these homes. Agents & Brokers Attorneys & Title Companies Housing Affordability Investors Lenders & Servicers National Association of Home Builders Processing Service Providers 2013-04-02 Krista Franks Brock NAHB Touts Affordability of Newer Homes April 2, 2013 401 Views Share
14Jan Wentworth tapped to lead new House special committee Categories: Wentworth News Temporary panel to be centered on auto insurance reformState Rep. Jason Wentworth today was appointed by Speaker of the House Lee Chatfield to chair a new committee specifically tasked with crafting a lasting solution to the state’s highest-in-the-nation car insurance premiums – offering affordability for all Michigan drivers.The temporary House special committee will focus on auto insurance and work with representatives to deliver a remedy to one of the most pressing issues facing the state – Michigan’s no-fault insurance system.“I am honored to be called upon by Speaker Chatfield to lead the deliberation process of one of the most dire issues impacting families statewide,” said Wentworth, of Clare. “For each day that passes without a devised, lasting solution, Michigan families continue to be trapped between converging walls of financial hardship. It’s going to take both of us – Democrats and Republicans – to come together in a bipartisan effort, set our differences aside and finally figure out a way to deliver historic car insurance reform.”Members of the special committee will be announced later this week.Speaker Chatfield noted public support for reform statewide has reached a new high, adding he can’t think of a better person to lead the panel responsible for spearheading critical legislation Michiganders not only demand, but deserve.“The ridiculously high cost of auto insurance is the single biggest issue holding back our state and getting in the way of further growth,” said Chatfield, of Levering. “This special committee will allow us to focus on delivering a real solution this term and lowering rates for hard-working Michigan families. It’s time we cut through the politics on this issue and finally move our state forward with real reform. The people we represent are demanding car insurance reform, and we are taking real, measurable steps to get it done.”Wentworth has begun his second term representing the 97th House District, which includes the residents of Clare, Gladwin and Arenac counties as well as parts of Osceola County. Wentworth was unanimously voted in by his House colleagues last week for the leadership position of Speaker Pro-Tempore.