American Volunteering Efforts Continue to Increase

64.5 million; that is the total number of Americans who contributed almost 7.9 billion hours of their time to volunteering in the past year. These findings come from the latest annual "Volunteering and Civic Life in America" study conducted by The Corporation for National and Community Service and the National Conference on Citizenship.

This year's overall number of volunteers total exceeds last year's 64.3 million volunteers, and the study values this year's volunteer service at $175 billion ($22.14 an hour).

Here are other interesting findings from the study:

• More than 25 percent of adults volunteered through a nonprofit organization.
• Americans 65 and older donated almost twice as many hours per volunteer than the population as a whole with a median of 90 volunteer hours.
• The median number of volunteer hours for the general population was 50.
• Generation X (those born between 1965 and 1981) had the highest volunteer rate.
• Volunteering among teenagers has increased by 3 percent in the past five years.
• Volunteers are twice as likely to donate to charity with almost 80 percent doing so.
• More than half of all Americans donated at least $25 to charity in 2012.

These are encouraging numbers for someone who has founded two nonprofit organizations and relies on the work and donations of volunteers. I am always glad to see that more Americans are giving back in terms of their time and their financial resources. No matter how much time or how many resources you have, there is always a way you can contribute, and your contribution will make a huge impact in the lives of others.

If you volunteered somewhere in the past year, I'd love to hear about your experience in the comments below.

Blessings,

Jeff Rutt

New FHA Loan Changes Impact Buyers and Builders

The Departmentof Housing and Urban Development (HUD) recently announced new FHA single-family loan limits that will go into effect on January 1, 2014. This announcement came just weeks after the department claimed that it would not lower home loan limits in 2014. The new loan limits will vary by county depending on the median cost of housing for that area. However, the new changes are mostly targeting high income earners  who looking to take advantage of favorable FHA loan financing options, and focusing instead on the lower income borrowers.

These changes will have a dramatic impact on both on buyers and builders. Buyers who were planning on purchasing a more expensive home using the favorable FHA loan terms may no longer be able to buy the home they were planning on. In turn, more builders may lose buyers who were planning on buying within the next few months.

If you are a buyer who wants to secure your FHA loan before these lower limits go into effect, you must have a case number on file with HUD before the end of the year to not be affected by these changes.

Here's a look at what the new FHA loan single-family home limits are for the counties Keystone Custom Homes builds in:

Pennsylvania

• Adams-Current: $271,050 vs. New: $271,050
• Berks-Current: $300,000 vs. New: $271,000
• Chester-Current: $420,000 vs. New: $379,500
• Cumberland-Current: $271,050 vs. New: $271,050
• Dauphin-Current: $271,050 vs. New: $271,050
• Lancaster-Current: $383,750 vs. New: $271,050
• Lebanon-Current: $271,050 vs. New: $271,050
• York-Current: $425,000 vs. New: $271,050

Maryland

• Cecil-Current: $420,000 vs. New: $379,500
• Harford-Current: $560,000 vs. New: $494,500

If you have questions about the new FHA loan limits, I would love to answer them. Feel free to leave a comment below.

Until next time,

Jeff Rutt

Americans Express Preference for Walkability in 2013 Community Preferences Survey

The results of the National Association of Realtors' 2013 Community Preference Survey are in, and the findings are definitely worth talking about.

Here are a few highlights:

• 60 percent of respondents prefer a neighborhood with a mix of houses, stores and other businesses that are easy to walk to
• 52 percent want a single-family home with a large yard
• 78 percent believe the neighborhood itself is more important than the house
• 57 percent would trade a larger yard for a shorter commute to work
• 55 percent for forego a large yard for walkability to schools, stores and restaurants

What are the takeaways from these numbers? The key factor to a successful community is walkability. Today's homeowners are putting a much greater emphasis on being able to walk from their new home to their favorite shops, restaurants, parks and schools. Americans are even willing to give up their treasured yard space to ensure they have an easier, faster commute to their workplace and local businesses. They don't want a community with just homes, they want a community that offers them a complete lifestyle; one that they very seldom have to leave, and when they do, they don't want to have to travel far.

While some homeowners will still fall in love with a single-family home in a community filled with just homes or homes and an amenities package, builders need to make sure that even these communities are readily accessible to shops, restaurants, entertainment, recreation and transportation. The other solution is to plan mixed use or traditional neighborhood developments, which incorporate a mix of homes, businesses and amenities all within one community.

What are your thoughts on the findings from this year's survey? I'd love to hear your opinion in the comments section below.

Until next time,

Jeff Rutt