These are rough times in our country. The recession has left many a family with housing woes, job losses, reduced home values and a myriad of financial difficulties. My family and I are blessed. Both my husband and I have jobs, as do all of our children. We are all relatively healthy. We have friends and family members who love and care about us. Our oldest daughter and her husband just closed on a new house last week and are ready for company this holiday weekend.

I tell you these things not to brag, but as a gentle reminder of the possibilities for Americans in this great country. Unlike other places in the world, when we hold a national election, we peacefully accept the choice of the majority. Young people aren’t losing their lives on our soil because they disagree with a political choice. We may not always agree with the people’s choice or a government decision, but we give ourselves the right to speak our mind about such things, without worry of reprisals.

This weekend, many will gather far and near with family and friends for cookouts and parties under the guise of celebrating our country’s birth and the great freedoms we enjoy. Let’s not forget that this is what July 4th is all about and remember those in distant lands who fight for our right and privilege to do just that. Celebrate your freedoms! Happy Independence Day!

Posted by Sharon Walker

The Chinese drywall calamity continues to plague hundreds of American homeowners. To date, 10 class-action lawsuits have been combined into a single suit under a U.S. federal judge in New Orleans. Titled, “Chinese-Manufactured Drywall Litigation,” it unites eight lawsuits out of Florida, one from Louisiana and one from Ohio. Upward of 60 other lawsuits that have been filed will eventually be included.

On the political front, three U.S. Senators and one Representative have written to the U.S. Internal Revenue Service asking for help for homeowners with Chinese drywall issues. The congressmen are looking for the IRS to allow a federal tax deduction for any ”costs incurred by homeowners who have fallen victim to Chinese drywall.” It is hoped that victims of this fiasco could file these expenses as “casualty losses,” as described in section 165(h) of the tax code.

The termite suit in northern Michigan has been decided. The state Supreme Court has ruled in favor of the sellers of a Leelanau County home, Mr & Mrs Robert Saffell. The buyers, Mr & Mrs Richard Roberts, sued after the purchase, accusing the sellers of not disclosing a termite infestation. The Saffells claim was they were unaware of the infestation, which made the house “structurally unsound.” Michigan disclosure statements warn buyers to secure a home inspection to determine the constructural state of a property.

On the HOA front: A few weeks ago I wrote about an ex-Marine whose Home Owners Association (HOA) was ready to fine him for displaying Marine decals on his vehicle. By letter, they even threatened to tow his car at his expense. The president of the HOA was conveniently on vacation after sending the letter. Frank Larison contacted a lawyer and let the date of the ultimatum come and go.

HOA president Darenda Hardy has returned to suburban Dallas and is surprised at all the national attention these circumstances have drawn. “I was in Tyler fishing,” she said, “and someone called and told me. I thought it’d all blow over by now, but it didn’t.” Larison’s attorney hand-delivered a letter to Hardy on behalf of his client, advising the HOA to stop threatening Larison with removal of his car. Her verbal response was that the board needs to review and clarify its policy, which doesn’t allow for “business advertising” on cars. Until that determination is made, Larison still finds himself in the middle of a “sticky” situation.

Posted by Sharon Walker

News regarding the H1N1 virus (also known as the swine flu) has seemed to have gone on hiatus. No doubt it will rear its ugly head come winter. Right now, the hot topic among home buyers and sellers and their real estate agents is HVCC: the Home Valuation Code of Conduct. The code - aimed at improving the ”integrity of the home appraisal process” - has real estate agents, mortgage brokers and their clients up in arms.

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Our nation’s birthday celebration is just days away. With the 4th of July landing on a Saturday this year, many employers are providing a day off from work on Friday, July 3. This gives us an extra day in which to reflect on the liberties and freedoms we enjoy in this great country. Along with that, millions of Americans will be entertaining friends and family.

Maybe you’re one of the hundreds of thousands of homeowners who use a back yard deck to gather guests for fun and food. Now is the time to take a good look at your wooden deck and determine if it could use some sprucing up.

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The American Recovery and Reinvestment Act of 2009 gives first-time home buyers a tax credit equal to 10% of the home’s purchase price up to a maximum of $8,000. Low interest rates and the tax credit have helped the housing market build some momentum recently and there are many who would like to see that continue. U.S. Representative Howard Coble of South Carolina has proposed legislation that may do just that.

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Daphne Tomchak was living a quiet life in the residential neighborhood of Montlake in Seattle, WA. The unemployed architect was pleasantly surprised this spring when she received a knock on her front door offering her an opportunity to ”hitch her wagon to a star” - a Hollywood star, that is.

Producers of a new film titled “The Details” wanted to use Tomchak’s 1914 house as the setting for their movie.  The cast for the film included Laura Linney (”The Truman Show”) and James McAvoy (”The Last King of Scotland”). The storyline for the film was a bit bizarre, but remember: this is Hollywood. McAvoy and Linney play a couple whose home and yard comes under attack by raccoons.  Billed as a “dark comedy,” producers found several elements of Tomchak’s home to be ideal for their vision of the story’s setting: “large rooms, high ceilings and a big yard.”

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It’s a statement my mother would say: “This house is a wreck!” That usually meant my sister and I needed to pick up our bedroom and make sure none of our personal belongings were scattered around in other parts of the house. Mom could easily be appeased with maybe an hour’s worth of work.

There is no appeasing a family in Georgia, whose home was “wrecked” without their knowledge. Al Byrd of Atlanta received a phone call advising him that the three-bedroom home his father built by hand in Carrollton had gone the way of the wrecking ball. Al was upset and bewildered by this news.

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If you haven’t made or purchased a card for your father, you better get crackin’. This Sunday, June 21, marks another opportunity for children to honor their fathers and for wives to celebrate the life of the father of their children on Father’s Day.

It’s often a bit more challenging to come up with the perfect gift for dad. If dad hasn’t bought it for himself already, it’s likely it’s out of the kids’ price range.

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First of all, if you’re under 62 years of age, you don’t qualify. I don’t mean to be an exclusionist, but “them’s the rules.” So if you’re looking for an answer to your own personal mortgage woes, this may not be for you. If you’re hoping to find a solution for a parent or grandparent who owns their own home, then by all means read on.

A reverse mortgage is a loan used to pay out home equity in the form of a lump sum or multiple payments. Here’s an opportunity for seniors to perhaps make home improvements, purchase a new car or supplement their fixed income. Unlike a conventional loan, repayment is delayed until the home is either sold, the owner moves from the property or the owner dies.

The U.S. Department of Housing and Urban Development (HUD) gives information online regarding the reverse mortgage. Titled Top Ten Things to Know if You’re Interested in a Reverse Mortgage, the site offers answers to the most frequently asked questions. Additional information can be obtained through a link on the site.

TALK BACK: How much do you know about reverse mortgages? Do you know anyone who has one? Post your comments below.

Posted by Sharon Walker

Families across the nation are struggling with all kinds of economic woes. Job loss, wage reduction and rising gas prices are forcing people to re-evaluate their financial standing when it comes to the family vacation. For some, the idea of a traveling vacation is simply out of the question. For others, it’s a matter of cutting back on the expense and figuring out an economical substitute for family entertainment. The “staycation” may just fit the bill. (No pun intended.)

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