Housing and Economic Recovery Act of 2008

HR 3221, the Housing and Economic Recovery Act of 2008
National Association of REALTORS® Summary

(as of 7/24/08)



H.R. 3221, the “Housing and Economic Recovery Act of 2008,” passed the House on July 23rd by a vote of 272-152. The Senate must now approve the language adopted by the House. The Senate is expected to approve the bill on Friday, July 25th or Saturday, July 26th. The President has said he will sign the bill.

For more details visit: http://www.realtoractioncenter.com/housing-bill-summary.html

Open House Wednesday July 23, 2008

587 East Third Street from Noon to 6:00pm.

Come see what all the buzz is about the Bee Hive. Formerly a honey house, this beautiful home is located next to the old chicken house, in historic Harbor Springs. We will have ice tea and lemonade for your pleasure, while you stroll the grounds and contemplate where to hang your hat. Sure Financial will be on hand to make the numbers all add up for your financing.

MLS# 418226

FHA Modernization

On July 11th, the Senate voted 63 to 5 to approve the legislation. As a result, HR 3221 creates affordable housing opportunities by setting loan limits up to $625,500 for Fannie Mae, Freddie Mac and FHA, and will stimulate housing demand with a temporary $8,000 home ownership tax credit. The bill also includes broad reform for Fannie Mae, Freddie Mac, and FHA, and creates a new FHA program to help homeowners at-risk for foreclosure.

This bill is critical to restoring confidence in the mortgage and housing markets and the nation’s entire economy. But it isn’t complete yet. Now, the bill goes to a conference committee before Congress can send it to the President. Negotiations begin over the next few days and weeks, and both House and Senate leaders hope to get the bill on the President’s desk before the August recess.

Mortgage Rates DROP!!

Mortgage Rates have been dropping all week long!

30 YEAR FIXED RATES AS OF 7/11/2008 9:30 AM
6.3 % 0 POINTS
6.0 % 1 POINT
5.89 % 2 POINTS
5.6 % 3.375 POINTS

BlissFest Music Festical July 11-13

The Blissfest Music Organization will again present a world of innovative folk & roots music and dance at the 28th Annual Blissfest Folk and Roots Music Festival to be held July 11-13, 2008 at the 120-acre Blissfest Festival Farm north of Harbor Springs. This annual celebration of summer features music, dance, camping, ethnic and vegetarian food concessions, a craft show and a full array of children's music, arts and dance activities.

During the weekend festival over 50 different international, national, regional, local groups and solo artists will be performing on three different stages and 4 workshop venues. This year the festival will present a variety of musical styles including: Americana, Bluegrass, Blues, Cajun, Celtic, Folk, Hip Hop, Jazz, Latin, Ethnic, and World music and dance. Bring the whole family, come for a day or the entire weekend.

The Bee Hive

See what all the buzz is about this beautifully restored three bedroom, two and a half bath Craftsman style home. Life is good with a gourmet kitchen, heated walkways, Rumford fireplace, outdoor hot tub and convenience of downtown Harbor Springs living. You'll love the private sancturary of the outdoor living spaces, gardens and natural fences in this beautiful setting.

Check out the link HERE.

Call to own your own piece of Harbor Springs history today!

Offered at $795,000
587 East Third Street
Harbor Springs, MI 49740
MLS# 418226