The Clock is Ticking! Time is Running Out for Significant Savings!

Attention home buyers! Waiting to buy a home could cost you nearly $20,000 or more over a seven-year period if you time your purchase incorrectly. While the actual impact will vary depending on purchase price, the impact will certainly be significant because of stimulus programs scheduled to end in the coming months. Economic turmoil and the real estate bubble have created significant opportunity for all those seeking to capitalize on the situation at hand. YOU Magazine will address the real estate purchase market and what people interested in both buying and selling a home need to know this month to take advantage of the current market conditions. We also consulted with Michael J. Maher of “The Maher Team,” one of the busiest agents in the country who sold 216 homes in 2009. With a degree in mathematics, he knows his numbers and the impact on both buyers and sellers. As little as a few years ago, it would have almost been incomprehensible to expect that actions from Washington would impact decisions involving the purchase and financing of real estate. Well, that was then and this is now and the decisions people make or don’t make stand to impact wallets across the country.”

“Before You Buy – Things to Consider The pressure is on to buy in the first quarter of 2010, so what should buyers focus on before pulling the trigger? Maher recommends that buyers focus on three things that are either expensive to fix later or unable to change without buying another home. His three primary areas to focus on are what he calls the three Ls: “Location, Lot and Layout.” When considering location, use technology like GoogleMaps™ before visiting a home to save both time and gas. Mapping allows you to view the property from different angles, see if the home is on a busy street, or if it offers the other requirements you need. For example, if you need a large yard where the kids or dogs can play, a tool like GoogleMaps™ will help you eliminate some homes immediately. While it is relatively easy to get caught up in the aesthetics, don’t do it. Overlook items you can change later like paint, carpet and other cosmetic details. Narrow your focus down to two or three homes and “all things being equal, focus on location, lot and layout.

” Selling a Home? If you are selling a home and want to make sure you can get it off the market for time crunched buyers, remember that today is what Maher calls a “price war beauty contest.” Sellers need to be focused on having their home priced competitively and making it most appealing upon inspection. Sellers also should consider paying for a home warranty to alleviate any concerns cash-strapped buyers may have about paying for repairs after closing. More than anything else for both buyers and sellers this year, Maher suggests that people not let the money savings opportunities pass them by. “Anyone that qualifies is in a no-lose situation – they are buying at the bottom of the market, economically, historically, seasonally, market-wise and interest rate-wise. The perfect storm has arrived and the pearls and treasures have floated to the surface.

“Gifts from the Federal Reserve Are on the Clock, MBS Purchase Program Mortgage rates have been artificially low the past fourteen months due to assistance from the Federal Reserve and their mortgage backed securities purchase program. Regardless of the expert, when asked what the impact has been to lowering rates, the range is from 0.50-1.00% or potentially more. The Federal Reserve reiterated in its January statement that they will be ending the program on March 31st. While it is uncertain to what degree interest rates will immediately rise starting April 1st, the overwhelming trend will be higher. Many experts are predicting that rates will start to rise in advance of April 1st.

Tax Credit

Low mortgage rates are not the only stimulus program ending in less than three months. Credited for boosting a major share of home sales at entry level, first time home buyers have been taking advantage of a tax credit of up to $8,000 for over a year. Repeat purchasers were also given incentive in November with the availability of up to $6,500 in post-closing cash. Tax credit qualifying buyers have until April 30th to get under contract and must close by June 30th. If home buyers miss either date, it will be a costly one.

 

HUD and the FHA Tighten Up

 HUD announced in January that the upfront costs to obtain an FHA mortgage are going up for any applications received April 5th or later. The cost of the up-front mortgage insurance premium (MIP) will increase for all case numbers effective April 5th by 0.50%, from 1.75% to 2.25%.

What Waiting Will Cost You

The costs of missing out on the combined incentives add up quickly for those who fail to act by the deadlines. The first incentive scheduled to end will impact buyers on a monthly basis in the form of higher monthly payments. On a $200,000 mortgage, a 1.00% increase to interest rates could increase a monthly payment by $125 a month or $10,500 over a seven-year period. Obviously, the longer the loan remains in place, the greater the impact of the potential loss. The second potential loss that will be incurred would be waiting to obtain a mortgage guaranteed by the FHA. In the same example of borrowing $200,000, the upfront cost would be an additional $1,000, or .50% of the amount borrowed. While this cost may be financed, the impact to a monthly payment would also be an increase of approximately $5 a month and have to be accounted for later upon the sale of the property. Finally, the third potential cost in waiting will be the end of the tax credit for qualified buyers of a primary residence, up to $6,500 for repeat buyers and up to $8,000 for first time home buyers. Add all this up and the cost of choosing to wait could run up to nearly $20,000 or more depending on the purchase price of a home and the type of mortgage applied for. So, even if someone believes that home prices may fall from where they are today, even with a modest decline in price, the cost of waiting could outstrip any benefit of finding a home for less.

THE NINE MOST TERRIFYING WORDS IN THE ENGLISH LANGUAGE ARE……

 `I’M FROM THE GOVERNMENT, AND I’M HERE TO HELP.`” Ronald Reagan. And regardless of if those words do indeed terrify you or perhaps give you confidence, the government held center stage last week, with a pivotal Federal Reserve Board Policy Statement, President Obama’s first State of the Union address, and Ben Bernanke’s confirmation for another term as Fed Chairman.

First, let’s start with the Federal Reserve Board, who on the heels of their most recent meeting reiterated their important line, “rates will remain low for an extended period” in their Policy Statement. This tells us that the “carry trade” which has pushed Stocks, Commodities and even Bonds higher may continue, as the driving force of this trade – low interest rates – will likely provide a tailwind. This piece of the Statement was good news for Bonds and home loan rates. However, this was offset by further confirmation that the Fed’s Mortgage Backed Security purchase program will indeed end March 31st, 2010. This was bad news for Bonds and home loan rates, and overrode the “extended period” statement in terms of Bond market and home loan rate action.

Then on Wednesday evening, President Obama delivered his first official State of the Union address, and just like in his initial post-election speech, a big theme was job creation. He discussed a new jobs package, but no details on how much the package would cost or where the resources would be spent have been provided yet. With lots of money already spent with this goal in mind during 2009, and the jobs picture still worsening, hopes are high that future plans will be carefully crafted and targeted to achieve this important goal.

And finally – Ben Bernanke ultimately received a hard-won Senate confirmation for his second four-year term as Chairman of the Federal Reserve, but it was a bit of a bruising confirmation fight. Bernanke has been under some criticism as he led the Fed in taking a series of extraordinary measures to protect the economy during the financial crisis, including the decision to help home loan rates stay low during 2009 and early 2010 via the aforementioned $1.25T Mortgage Backed Security purchase plan.

Practical Tips To Enchance Your Financial Freedom

$8,000 Tax Credit Extended and Expanded

With tax season approaching, we decided to focus this edition of our quarterly newsletter on a few tax incentives we think you’ll definitely want to discuss with your tax professional. Feel free to share this newsletter with your friends and loved ones as they prepare their 2009 returns.

Up first is the popular $8,000 tax credit for first-time home buyers. Originally scheduled to expire on November 30th, 2009, this valuable tax credit of up to 10% of the purchase price or up to $8,000 was extended into 2010 (purchase agreements must be signed by April 30, 2010, and closings must be final by June 30, 2010). The new program was also expanded to include a tax credit of up to $6,500 (or up to 10% of the purchase price) for qualified buyers of a second or “replacement” home under the same deadlines. To qualify, home purchasers must have owned and occupied a primary residence for five consecutive years during the last eight years. Most importantly, the new program significantly increases previous income requirements.

There are other important guidelines to meet in order to qualify, so be sure to discuss your situation with a tax professional. And don’t forget, you can still buy a home before April 30th and qualify – even you’ve already filed your 2009 taxes.

 

Property-Tax Deduction for Non-itemizers

You don’t have to be a new homeowner in 2009 to deduct qualifying property taxes, but prior to 2008, you did have to itemize your taxes in order to receive the benefit – not anymore. Under the new rule, homeowners who don’t itemize can boost their standard-deduction amount by up to $500 if they’re single and up to $1,000 if they’re married and file a joint return to account for property taxes paid during 2009. You’ll need to include a Schedule L with your 2009 tax return, but it’s definitely worth it if you qualify. Talk to your tax preparer and don’t be one of the millions of taxpayers who will claim the standard deduction and miss out on the savings.

Refinancing Points – When you buy a house, you get to deduct (all at once) the points paid to get your mortgage. When you refinance a mortgage, though, you have to deduct the points over the life of the loan. That means you can deduct 1/30th of the points per year if it’s a 30-year mortgage. It’s not a lot of savings, but everything helps when you’re legally trying to lower your tax bill.

Energy and Home Improvements Credits

Homeowners can make energy-conscious purchases that will provide tax benefits when filling out their tax returns for 2009. The new law provides tax credits for making your principal residence more energy efficient and for buying certain energy efficient items.

Residential Energy Property Credit – The new law increases the energy tax credit to 30% of the cost of all qualifying energy-efficient improvements to existing homes. It also raises the maximum credit limit to $1,500 for improvements placed in service in 2009 and 2010. Qualified improvements include adding insulation, energy efficient exterior windows, energy-efficient heating, air conditioning systems, and more. A similar credit was available for 2007, but was not available in 2008. Ask your tax professional about the IRS’ issued guidance, deadlines, and other important qualifying factors for this and the following tax credit.

Nonbusiness Energy Property Credit – You can receive a tax credit of 10% of the purchase price of qualified energy-efficient products installed in the taxpayer’s main home in the United States. The tax credit for home improvement purchases is limited to $500 and applies to the total credit you can claim for all years combined.

Other 2009 Tax Breaks

New Car Purchases – If you bought a qualifying new car or truck ($49,500 or less) between February 16 and December 31st, you may be able to deduct the sales or excise tax. Your income must be less than $125,000 for a single taxpayer or $250,000 for a couple to get the full deduction. The benefit applies to more than one vehicle, as long as all of them qualify and delivery was taken by Dec. 31.

Unemployment Benefits – Unemployment benefits are usually fully taxable. If you received any unemployment benefits at any time during 2009, however, you are eligible to exclude the first $2,400 of these benefits when you file your tax return. For a married couple, the exclusion applies to each spouse separately.

Moving expenses – If you were unemployed in 2009 but you got a new job, moving expenses may be deductible, if you moved more than 50 miles away – and you don’t have to itemize to get it. For 2009, you can deduct the cost of getting yourself and your household goods to that new area 50+ miles away, this includes 24 cents per mile for driving your own vehicle, plus parking fees and tolls.

The Bulls & the Bears duke it out in the market…

If you are losing a tug-of-war with a tiger, give him the rope before he gets to your arm. You can always buy a new rope.” Max Gunther. Such a sweet sentiment…but definitely not one that the markets adopted this week, as both Stocks and Bonds battled back and forth near key technical levels.

The markets were closed on Monday in honor of the Martin Luther King, Jr. holiday, but then the Bulls and the Bears in the Bond market spent the first part of the week pushing and pulling Bond prices above and below their 200-Day Moving Average. This level is important because it can often set the stage for price direction for an extended period of time. Bonds were finally able to break above this important level, which was good news for home loan rates.

And the war wasn’t just being waged in Bonds…the Stock market was fighting some technical battles of its own. The Dow and the S&P both tumbled lower, falling beneath their own 50-day Moving Averages. This is very significant, as neither index has closed beneath their 50-day Moving Average since July of 2009. If Stocks are unable to regain their footing and move above this important Moving Average, we may see a continued slide lower in Stocks, which could benefit Bonds and home loan rates.

However, a possible uptick in inflation later this year and an end to the Fed’s Mortgage Backed Security purchase program in March are two important factors that will likely cause home loan rates to worsen in the months ahead. While this week’s Producer Price Index Report (which measures inflation at the wholesale level) was relatively tame, higher than expected inflation was reported in both the UK and India. Reports out of both countries say that they expect levels of inflation to continue higher, but not just in their own countries…they see it around the world as well. Remember, Bonds and inflation are mortal enemies. If Bonds were Superman…inflation would be Kryptonite. And when inflation does begin to tick higher here, it will send home loan rates higher as well.

It’s also important to note that the Fed bought $12B in MBS in the latest week, bringing their purchase total to $1.149T, leaving $101B left to purchase before the end of March. If we have not talked yet about your own home loan situation, let’s be sure to connect very soon as the current low home loan rate environment may soon be a thing of the past.

There was also housing news to note last week, as Housing Starts fell in December, due in part to bad weather throughout the country. However, a look down the road appears more positive, as Building Permits rose significantly in December, to the best level since October 2008.

After all the tug of war this week among traders, home loan rates were able to end the week slightly better than where they began.

New Lending Policies Announced by FHA

If you were listening to the housing news last week, you probably heard a number of reports about lending changes that were announced by the Federal Housing Administration (FHA). While many of the news reports were confusing, the truth is pretty clear, and isn’t as bad as some people may have heard.

Overall the measures are intended to help the FHA better manage its risks and strengthen its capital reserves, while still providing home loans to the nation. The good news, as FHA Commissioner David Stevens stated recently, is that “by continuing to provide affordable, responsible mortgage products, FHA will support the housing market’s recovery” and “remain the largest source of home purchase financing for underserved communities.”

What’s Changing?

If you or someone you know is considering an FHA loan, some of these changes may affect you. Here’s a clear, concise rundown of the major changes and what they mean:

1. Increased mortgage insurance. The mortgage insurance premium (referred to as private mortgage insurance by many people) will be increased from 1.75% to 2.25%. This change will add some cost to purchasing a home, but will not overburden consumers since the mortgage insurance is paid over the life of the loan, rather than upfront at closing.

2. New down payment and credit score requirements. According to the new policy, homebuyers who have a credit score of at least 580 may still be able to purchase a home with 3.5% down, but those with credit scores of less than 580 will be required to put down at least 10%. This change is designed to help the FHA balance its risk, while still providing affordable down payments for consumers with a history of good credit and responsibility.

3. Reduced seller concession. Basically, this change means that the person selling the home will now only be able to offer the homebuyer 3% to help defray closing costs, as opposed to 6% under the previous policy.

In addition to these changes, the new policies contain a series of new measures aimed at increasing lender enforcement.

These changes will become effective on April 5, 2010. The bottom line is that the changes will impact some homebuyers more than others. But in the end, the FHA is still committed to providing affordable home loans.

If you’re concerned about your credit score or are worried about what these changes may mean to your specific situation, please call or email to schedule an appointment. There are many different programs available for homebuyers, so finding the right plan for you

Good News Today in Crains!

Dec. 22, 2009

By Eddie Baeb

Chicago-area home sales jump 72% in November

(Crain’s) — Chicago-area home sales soared 71.6% in November compared with the same month last year, according to the Illinois Assn. of Realtors.

CHICAGO-AREA SALES
Below is a monthly year-over-year comparison of home sales (single-family and condo) in the nine-county Chicago area.
Month	2009	2008	Change
January	2,965	3,927	-24.5%
February	3,082	4,326	-28.8%
March	4,260	5,759	-26.0%
April	4,747	6,094	-22.1%
May	5,634	6,927	-18.7%
June	7,140	7,806	-8.5%
July	7,427	7,408	0.3%
August	7,009	6,917	1.3%
September	6,862	6,477	5.9%
October	7,286	5,467	33.3%
November	6,826	3,978	71.6%
Source: Illinois Assn. of Realtors

 

The group cited pent-up demand from buyers, low interest rates and the federal tax credit for first-time home buyers as the reason for the fifth straight monthly year-over-year improvement for the Chicago metro area.

Home sales in November and October of 2008 were extremely low as the worst of the nation’s financial crisis was hitting.

“November’s sales surge reflects the rush to beat the tax-credit deadline,” Mike Onorato, the association’s president, said in a press release. The tax-credit deadline was extended from November through April 30, 2010.

Median prices in the Chicago area, however, continued to fall.

In November, the region’s median price – where half the homes sold for more and half sold for less – was $189,000, down 9.1% from $207,995 in November 2008.

Total sales in the region, including single-family homes and condominiums, were 6,826 compared with 3,978 in November 2008.

In the city of Chicago, November sales were up 69.9% to 1,859 compared with 1,094 homes sold in November 2008. The median price in the city was $215,000, down 3.4% from November 2008.

Statewide, home sales totaled 10,361 in November, up 64% from the same month last year. The statewide median price was $155,000, down 4.3% from November 2008.

Last month, the average interest rate was 4.93% for a 30-year fixed-rate mortgage, according to the Realtors’ release, down from 5.0% in October.

The Illinois Assn. of Realtors’ sales figures include new and existing homes. The nine-county Chicago Primary Metropolitan Statistical Area consists of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.

Market Updates Dec 11th 2009

“HI HO, HI HO, IT’S OFF TO WORK WE GO!” And even those who have been feeling grumpy about the weak labor market found something to smile about last Friday. The official Jobs Report for November was released – and the improving numbers were a big surprise to the markets. According to the Labor Department, only 11,000 jobs were lost in November, despite expectations of 125,000 jobs lost. 2007.  Adding to the favorable news, the Unemployment Rate improved to 10.0%, when expectations were for it to remain at the 10.2% level. While the news was good for the economy and helped Stocks improve sharply, it wasn’t so favorable for Bonds…and as a result, home loan rates moved slightly higher on the news, continuing their worsening trend for the week overall.  In other news, based on early numbers, 195 Million shoppers hit the stores and websites on Black Friday, which was up from last year’s 172 Million. Cyber Monday – the online equivalent of Black Friday – also showed an increase in web shoppers, up by 6% from last year. It appears that the shopping traffic was up, but the dollars-per-shopper may be down a bit. This might be indicative of not only consumers being conservative…but also the fact that with all the deep sales taking place to incent buyers, fewer dollars may be spent to get the very same merchandise as a year ago.

SPEAKING OF THE HOLIDAYS…YOU CAN STILL DECORATE FOR THE HOLIDAYS WITHOUT BREAKING THE BANK. TAKE A LOOK AT THE MORTGAGE MARKET GUIDE VIEW ARTICLE BELOW FOR CREATIVE, COST-EFFECTIVE TIPS FOR SPRUCING UP YOUR HOME THIS SEASON.

Forecast for the Week The week ahead starts out a bit sleepy in terms of economic reports, with no major releases due until Thursday when the Initial Jobless Claims report and the Balance of Trade report will both arrive. Friday will bring another shot of economic news when the Retail Sales Report – the most-timely indicator of broad consumer spending patterns – is released. We’ll also get a look at the Consumer Sentiment Index for an updated snapshot of how consumers are feeling about the economy. In addition to these reports, the markets will be watching the latest round of Treasury auctions. This week’s auctions include longer-term maturities such as 10-year Notes and 30-year Bonds that compete with Mortgage Backed Securities or Mortgage Bonds. So as we’ve been seeing of late, the auctions could cause some volatility, depending on how well they are received.

Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.

Economic recovery gained traction in late fall…..

Dec. 02, 2009

(AP) — The economic recovery gained traction in late fall as shoppers spent a bit more and factories bumped up production. That assessment Wednesday by the Federal Reserve marked its most upbeat view since the economy tumbled into recession two years ago.

The Fed’s new snapshot of business barometers nationwide found that conditions have generally improved since the last report in late October.

Eight of the Fed’s 12 regions surveyed reported some pickup in activity or improved conditions, the Fed said. Those regions were: Chicago, Boston, New York, St. Louis, Minneapolis, Kansas City, Dallas and San Francisco.

The four other regions — Philadelphia, Cleveland, Richmond and Atlanta — described conditions as little changed or mixed.

The new report adds to evidence that the economy is rebounding after the worst recession since the 1930s.

The main challenge for Fed Chairman Ben Bernanke, who will be on Capitol Hill on Thursday seeking confirmation for a second term, is to sustain the fledgling rebound, especially after the benefits of government support fade next year.

To that end, the Fed is expected to hold a key bank lending rate at a record low near zero when its meets on Dec. 15-16. Economists predict the Fed will keep rates at super-low levels well into next year.

With Wednesday’s survey also finding that inflation remains under control, the Fed has leeway to hold rates at record-lows. The central bank hopes that will entice people and businesses to step up spending, which would bolster the economy.

Although the jobs market remains lousy, the Fed survey found some scattered signs of improvement in some markets.

Holiday hiring expectations nationwide were mixed, the Fed report said. And most private economists predict that even as the pace of massive job losses slow, the nation’s unemployment rate — now at a 26-year high of 10.2 percent — will continue to climb into next year. Some predict it will rise as high as 11 percent by the middle of 2010 before slowly drifting down.

The Fed warned last week that it could take five or six years for the job market to return to normal.

That’s why Bernanke and others think that consumers — while appearing to hold up fairly well now to all the negative stresses — may turn more cautious in the months ahead, restraining the recovery.

Consumers in late November spent more, with general merchandise and auto sales improving across much of the country, the Fed report said. Unsure of customer demand, most merchants were keeping stocks fairly lean during the holiday season. Yet some retailers suggested that they have recently become more optimistic about the holiday sales outlook.

The Fed survey also found that manufacturing conditions generally showed some improvements.

Many manufacturers said they were “optimistic about the near-term outlook.” But makers of construction-related materials were still pessimistic, mostly because of expectations that problems in the commercial real estate industry will be prolonged.

In fact, commercial real estate conditions continued to deteriorate, the Fed report said. Most regions were plagued by rising vacancy rates, downward pressure on rents and little, if any, new development.

By contrast, the housing market — sales and construction activity — improved across much of the country, according to the Fed survey. A collapse in the housing market, which dragged down home prices, thrust the country into a recession. A sustained turnaround in housing is a key ingredient for a lasting economic recovery.

South Loop News November 2009

South Loop News November 2009

H1N1: Information is the Best Defense!

Symptom	Cold	H1N1 Flu
Fever	Fever is rare with a cold.	Fever is usually present with the flu in up to 80% of all flu cases. A temperature of 100�F or higher for 3 to 4 days is associated with the flu.
Coughing	A hacking, productive (mucus- producing) cough is often present with a cold.	A non-productive (non-mucus producing) cough is usually present with the flu (sometimes referred to as dry cough).
Aches	Slight body aches and pains can be part of a cold.	Severe aches and pains are common with the flu.
Stuffy Nose	Stuffy nose is commonly present with a cold and typically resolves spontaneously within a week.	Stuffy nose is not commonly present with the flu.
Chills	Chills are uncommon with a cold.	60% of people who have the flu experience chills.
Tiredness	Tiredness is fairly mild with a cold.	Tiredness is moderate to severe with the flu.
Sneezing	Sneezing is commonly present with a cold.	Sneezing is not common with the flu.
Sudden Symptoms	Cold symptoms tend to develop over a few days.	The flu has a rapid onset within 3-6 hours. The flu hits hard and includes sudden symptoms like high fever, aches and pains.
Headache	A headache is fairly uncommon with a cold.	A headache is very common with the flu, present in 80% of flu cases.
Sore Throat	Sore throat is commonly present with a cold.	Sore throat is not commonly present with the flu.
Chest Discomfort	Chest discomfort is mild to moderate with a cold.	Chest discomfort is often severe with the flu.

New Area Code For Chicagoland Area

Due to increased demand for telephone numbers, the Illinois Commerce Commission approved the addition of a new area code, 872, for the same geographic area as the 312 & 773 area codes. Everyone should now begin dialing all local calls using 1+area code + 7-digit telephone number. Effective November 7, 2009, all calls must be dialed using this new dialing procedure.

What is the New Dialing Procedure?
To complete local calls, the new dialing procedure requires callers to dial 1 + area code + telephone number. This means that all calls in the 312 or 773 area codes need to be dialed using 1 + area code + telephone number.

When will the Change Begin?
Beginning November 7, 2009 you must use the new dialing procedure for all local calls. After this date, if you do not use the new dialing procedure, your call will not be completed, and a recording will instruct you to hang up and dial again. All customers should begin using the new dialing procedure before November 7, 2009.

Why is the Change Necessary?
To ensure a continuing supply of telephone numbers, the 872 area code is being added to the area served by both the 312 & 773 area codes. Since more than one area code will now serve the same geographic region, 1 + the area code must be used when dialing any telephone number—including calls within the same area code. Beginning November 7, 2009, new telephone lines or services may be assigned numbers with the new 872 area code.

What Will You Need to Do?
In addition to dialing the 1 + area code + telephone number for all local telephone calls, you may need to:

• Update any preprogrammed 7-digit telephone numbers in your handset to include the 1 + area code, as well as any text or email alert services.
• Reprogram all services, automatic dialing equipment, or other types of equipment that are programmed with a 7-digit telephone number to include the 1+ area code. Some examples are life safety systems, fax machines, Internet dial-up numbers, alarm and security systems, security gates, speed dialers, call forwarding settings, voicemail services, and similar functions.
• Check your websites, business stationery, advertising materials, personal checks, contact information, and your ID tags to ensure the 1+ area code is included.

What Will Remain the Same?
Your telephone number, including current area code will not change.

• The price of a call, coverage area, or other rates and services will not change due to the overlay.
• What is a local call now will remain a local call regardless of the number of digits dialed.
• You will still dial just three digits to reach 911.
• If 211, 311, 411, 511, 611, 711, and 811 are available in your community, you will still dial them        with just three digits.