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There's no news like good news and Federal Reserve Chairman Ben Bernanke delivered some great news to a gathering of financial gurus in Jackson Hole, Wyo. Friday (Aug. 21) according to an Associated Press report released Friday morning.
Bernanke told participants at a conference sponsored by the Federal Reserve Bank of Kansas City that the U.S. economy is on the verge of recovery. While optimistic about the future of the U.S. economy, Bernanke emphasized the importance of continued collaboration between world financial leaders and institutions.
What does that mean for the real estate industry? It means tight credit holds are loosening and while many people and businesses are still struggling to get loans, the system is on the mend. That could translate to more completed sales for agents and desperate home sellers. It could also mean greater opportunities for home buyers.
Wait, there's more. If people and businesses are able to secure loans to build new construction as a result of the improving economy, it will eventually mean a complete turn around in local economies. As unemployed construction workers, struggling contractors and all associated support services from material suppliers to coffee shops start earning and circulating more dollars, economic gears will begin to turn more freely. New rules and regulations aimed at tightening control of the real estate and lending industries will forever change the way we do business. These changes resulted from a frightening economic crisis and the impact of those regulations remain to be seen.
Bernanke's assessment was in line with Federal observations in early August that prompted the Fed's to take "a small step toward pulling back some emergency programs to revive the economy," according to the AP report.
Any news of a positive nature is welcome news after a dismal economic storm.
If you're ready to buy your dream home while prices are still reduced, now is the time to begin your search! If you're looking for a great opportunity to sell, contact us today.
REALTOR® Magazine's Good Neighbor Awards Seek Entries, Winners Receive $10,000
The following is a news alert from the National Association of Realtors®
The National Association of Realtors® is now accepting applications for the 11th annual REALTOR® Magazine Good Neighbor Awards. The awards recognize Realtors® for their commitment to volunteer service.
The five winners will be announced in November in REALTOR® Magazine. Each winner will be recognized at the 2010 REALTORS® Conference & Expo in New Orleans and receive travel expenses to the conference, national media exposure for his or her community cause, and a $10,000 grant for the charity. In addition to the winners, five honorable mentions will each receive a $2,500 grant.
"We all know that Realtors® build communities," said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. "The Good Neighbor Awards gives us the opportunity to honor the very best of our Realtor® volunteers who make an incredible commitment of their time and energy to help those in need."
Last year's winners contributed a combined total of nearly 8,000 hours to their causes and drew a standing ovation from more than 7,000 Realtors® and guests during the annual conference's general session in San Diego. The 2009 winners were Greg Adamson, Prudential Utah Real Estate, American Fork, Utah, Heart 2 Home Foundation; Cindy Johnson, Dona Christensen Realty, Woodbury, Minn., The Arc of Minnesota; Helen Marotto, EXIT Homeplace Realty, Hampstead, N.C., Cape Fear Guardian Ad Litem Assn.; Regina Ragon, Prudential Realty Center, Flintstone, Ga., Latin American Community Development; and Samuel Thomas Jr., Imani Realty & Assocs., Willingboro, N.J., QUEST Community Outreach.
"REALTOR® Magazine's Good Neighbor Awards recognize the important role Realtors® play as volunteers in their communities," said REALTOR® Magazine Editorial Director Pamela Geurds Kabati. "We hope highlighting their stories inspires more Realtors® to give their time to important community organizations."
Previous Good Neighbor Award winners say their charities have benefited from the grant money and the increased public exposure. "The Good Neighbor Awards has increased the exposure of The Sport of Giving from our local community to a national audience," said 2008 Good Neighbor Award Winner Sheila Stevens, Prudential Georgia Realty, Suwanee, Ga., founder of The Sport of Giving. "The inquiries that are flowing in to host events in other parts of the country have allowed us to launch new events and help more people. Our mission has become a reality thanks to the Good Neighbor Awards."
REALTOR® Magazine's Good Neighbor Awards is sponsored by Lowe's. In addition to the grant money, each winner will receive a $2,000 Lowe's gift card and each honorable mention will receive a $1,000 Lowe's gift card.
Good Neighbor Awards entries must be received by Friday, May 21, 2010. For more details and a nomination form, call 800/874-6500, visit www.REALTOR.org/gna, or see the March issue of REALTOR® Magazine.
Lowe's (www.lowes.com) has worked with customers to maintain and improve their homes since 1946. Lowe's is proud to support the Good Neighbor Awards. Lowe's is a proud supporter of Habitat for Humanity International, American Red Cross, SkillsUSA/SkillsCanada, and The Nature Conservancy, in addition to numerous nonprofit organizations and programs that help communities in North America. In 2009, Lowe's and the Lowe's Charitable and Educational Foundation together contributed more than $30 million to support community and education projects in North America. Lowe's also encourages volunteerism through the Lowe's Heroes program, a company-wide employee volunteer initiative. Lowe's, a Realtor® Benefits Partner, brings Realtors® exclusive benefits to help build relationships with their customers, generate referrals and expand their client base. The benefits program is featured on www.LowesRealtorBenefits.com.
The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
NAR Echos Fed's Positive News: Things are Looking Up
On Aug. 21, Federal Reserve Chairman Ben Bernanke spoke candidly about the economy at a conference in Jackson Hole, Wyo. The event, which captured the attention of the country's financial movers and shakers, was sponsored by the Federal Reserve Bank of Kansas City. Bernanke reported that the U.S. economy is on the verge of recovery.
National Association of Realtors® is echoing Bernanke's sentiment with information, released the same day, indicating housing sales are steadily climbing. The good news just keeps on coming. Welcome news, at that.
According to an NAR Aug. 21 press release, "For the first time in five years, existing-home sales have increased for four months in a row."
The association's chief economist, Lawrence Yun said increased sales throughout the nation note decided improvement in the housing marked which he said, ". . . has decisively turned for the better."
Yun sites several reasons for the upturn, none of which are surprises. The Obama Administration's first-time home buyer tax credit has had a defined impact on borrower's ability to buy a home. The recent national financial crisis has also sent housing prices plummeting. While many homeowners lost homes to foreclosure, or sold them at reduced prices through short sales and other creative price reduction strategies, many new buyers saved thousands over previous year's prices buy buying in a slow (okay, a very slow) market. Both are incentives of different origins, but incentives just the same. Price-to-income ratios are better for the buying and the trend is helping hard-hit cities through the recovery process.
San Diego, Las Vegas, Phoenix, and Orlando were among the hardest cities hit by a flailing economy and housing market. Now, Yun said, "the demand for foreclosed and lower priced homes has spiked, and a lack of inventory is becoming a common complaint."
Here are some indicators that speak volumes about the economy's perceived upturn:
Existing home sales (this includes single-family, townhomes, condominiums and co-ops are up, up, up.
Single Family Home Sales alone have shown a steady increase.
Condominium and Co-Op Sales have shown an impressive increase in the last four months, with the highest sales in July 2009.
The bottom line is, prices are still low, interest rates are very appealing, foreclosure and short sale inventory is diminishing and the First-Time Homebuyers Tax Credit is fading away. You won't find a better time to buy a home. Since new document regulations are in place, the approval process has slowed significantly. Don't wait until it's too late to get your dream home at a bargain price.
If you're selling a home, contact us today. Buyers are looking for a bargain. You don't have to be in financial prices to offer your home at a reduced rate. If you're ready to move your home on the market, and ready to move it fast, contact us today.
'Go Ahead, Fence Me In'Fencing Styles and Materials to Increase Property Value
If you want to increase and maintain the value of your home while creating curb appeal, fencing may become your new best friend.
A fence, like a border or frame on a photograph, can make your yard seem "finished." In addition to being functional, a fence can be considered an important part of your landscaping.
Your fence should match the ambiance of your property so it seems a part of the grander plan and not an after thought.
Before you hit the hardware store, ask yourself these questions:
1. There are many reasons for wanting a fence. Define your purpose. Are you looking for privacy? Are you trying to keep animals in (or out)? Do you want to create and emphasize interesting lines on your property? Is the fence for decorative purposes only? Perhaps you're out to protect children or a garden. Your reasons for wanting a fence may be many fold. For example, you might need a beautiful fence to keep the animals out of your garden and emphasize the beautiful lines of your property while providing you with some element of privacy.
2. Where do I want a fence? Draw a diagram of your yard. It's a good idea to measure your yard and plot it out on a piece of graph paper. Each square could represent one foot, for example. You may want to use different types of fencing for different areas. For example, you might want a 6-foot flat privacy fence to separate your back yard from the neighbors, but a shorter, more inviting type of fencing in the front yard so your home won't seem quite so much like a compound.
3. Following are basic fence types as defined by www.doityourself.com:
4. Some of the most popular fencing materials used today are:
Each material is best suited to a specific type of fencing. When you are deciding what kind of material used, consider what features are most important to you including:
It pays to maintain and protect your property!
If you are looking for a home, or need advice on how to sell your home for the best possible current market price, contact us today. We're here to help.
Fire Happens: Protect Your Investment
It seems the world is on fire.
Many states including California and Utah are ablaze with life-threatening, home-threatening flames. It's a common scenario for the season. Unless, those fires are hitting close to your home.
Protecting a home from the perils of fire is a very hot topic today.
The first three recommendations I would like to make are these:
On the morning news I watched a man interviewed by probing reporters as he stood in the midst of his once beautiful 20-acre paradise. His charred home was a pile of rubble and the trees surrounding him grim silhouettes still smoldering in the grey morning chill. He didn't have any homeowner's insurance. He was mad. He was very, very angry that the fire had been allowed to consume his home. "They told me that it would never happen. It happened," he said shaking his head. He appeared to be in a mild state of shock.
Sometimes despite best efforts by safety experts, fires get out of control.
Homeowner's insurance will protect you and your lifetime investment in the unlikely event of a fire. Check your policy for fire coverage. Make sure your personal belongings are included in the policy. Purchase "replacement value" insurance to assure your insurance company will pay to replace your home (and not just pay what is owed on it).
You might never cash in on the cost of homeowner's insurance premiums. Consider including the premiums in your entertainment budget because knowing you have insurance will help you relax more and more often than any vacation ever will!
Do Your Part to Protect Your Home from Fire
It is important to consider fire safety at every stage of buying or building a home. When choosing a building lot, be completely aware of the surroundings. Wooded lots are lovely, but they do pose an increased risk of fire due to the fuel that surrounds them. Look for other safety considerations and make a plan for how you will physically protect your home and property.
When building a home, take into consideration the many fire-retardant materials available on the building market today. Build fire safety into your plans with plenty of accessible exits, and recommended windows to allow easy escape. Contact your local fire station for other recommendations specific to your area.
In an existing home, double-check smoke detectors and change the batteries regularly. Create a family escape plan. Avoid heavy build up of newspapers and trash in and around the home. Never store flammable liquids near the home. Make a sweep through your garage at least once a week to check for potentially dangerous chemicals.
Keep trees, shrubs and other vegetation surrounding your home trimmed. Yard debris should be removed as soon as possible including dry leaves and pine needles.
There are many, many ways to protect your home from a potentially devastating fire. Fires throughout the nation are great reminders to consider fire safety and review the precautions you have taken to protect yourself.
Fire happens. Don't let it happen to you.
How Does Your Garden Grow? Start Seedlings Indoors
There's nothing like a lush garden to improve your home's curb appeal. An established flower garden or vegetable garden can actually add value to your home and property. For many regions, now is the time to begin planning your garden strategy.
In cooler climates it's a good idea to start some vegetables and flowers indoors. Here are a few tips to get you started:
1. Don't start your plants indoors too soon. If you are new to the area, research the traditional date range for the last spring frost and plan accordingly.
2. Eggplants, tomatoes, peppers, broccoli, Brussels sprouts, cabbage, cauliflower, cucumbers, eggplants, leeks, head lettuce, and onions are just a few of the vegetables that will benefit from an early start indoors.
3. Flowers slow to mature can also be planted indoors in order to make the green thumb next door green with garden envy. Some of these include impatiens, petunias, snapdragons, and fibrous begonias.
4. Be careful not to start plants with sensitive roots indoors. Vegetables such as peas, beans, corn, and sweetpeas like to settle in to their summer homes and not be disturbed. You can stunt the growth of these by replanting them after they have already taken root.
5. Reuse containers each year, but keep your indoor planting containers clean. Commercial flats can be used over and over and they usually come with trays to catch runaway water.
6. Try a mixture of vermiculite, perlite, and peat moss for seed starting. It's easy to overwater indoor starts and rot their roots. Make sure your seedlings have plenty of air circulation, a warm (but not hot) environment (70 to 75 degrees Fahrenheit is just about right), and plenty of strong light.
7. Don't overcrowd seeds. Encourage them to grow freely by giving them plenty of room.
8. Don't let containers and plant medium dry out completely, but don't over water them either.
9. Label and date containers. You could forget what you planted, and when you planted it!
10. Gradually toughen plants so they can survive drying winds and changing temperatures. Brush your hand gently across them daily. As they get older, consider using a fan do simulate wind for a few hours every day.
If you're looking for a home with a beautiful garden spot, contact us today! We're your area real estate specialists.
Solar Homes are Lighter on the Pocketbook
There's a huge push in America today to conserve energy and cut related costs. Homes with energy-saving features are likely to be much more marketable today and in the future. Whether you're building a new home or remodeling a home, let the sun shine in to heat and (get this) cool your home.
President Barak Obama's Administration is taking clean air and energy solutions to the extreme with an historic and controversial bill spearheaded by Representatives Henry Waxman (D-Calif.) and Edward Markey (D-Mass.). The U.S. House of Representatives voted in favor of the bill on June 26, 2009. The American Clean Energy and Security Act of 2009 (H.R. 2454) slipped through by a very narrow margin.
The Senate may debate on the same bill or on companion legislation. In order to become law, The American Clean Energy and Security Act of 2009 must be signed by the President. The bill is intended to "create clean energy jobs, achieve energy independence, reduce global warming pollution and transition to a clean energy economy." You can track this legislation at www.Govtrak.us. This website merely reports on legislation and does not editorialize.
Whether or not the bill passes the Senate and is signed into law, the clean energy and resources issue is on the table and Congress is dining in style. Expect some form of government control and possibly incentives for those who strive for greener personal and commercial environments.
Homeowners can start today by designing homes that take advantage of the earth's natural and renewable energy resources. Solar homes meet the basic criteria for energy efficiency and environmental responsibility.
Passive Solar Homes Save Energy, Money
Passive solar homes use heat from the sun to heat and cool homes. A home might be entirely or partially warmed by the sun depending on the home's design and the stage at which solar design is incorporated.
Large windows serve as heat collectors. Heat absorption is maximized with the perfect angle. An absorber in an indoor wall, or on the floor in direct sunlight collects and stores the sun's energy. The energy is moved through the home via a distribution system that relies on radiation, conduction and convection alone. It is possible to eliminate a heating bill with solar energy. Passive solar energy incorporates many natural elements including wind and trees. Design elements like landscape features, overhangs, and careful landscaping also come into play.
An active solar system uses fans and blowers to help distribute the heat. This usually requires photovoltaic panels to collect solar energy. The energy is then turned into electricity.
It might seem like an oxymoron to suggest you cool your home with the sun, but there is a wide variety of systems available to cool homes including, but certainly not limited to the use of a coolant that absorbs and actually dissipates heat from a structure.
Even if you're not building a new home and don't want to remodel a home entirely, you can take advantage of easy-to-install features to conserve energy including trees, insulation and window dressings that allow you to let the sun shine in when you seek warmth and block it out when you're trying to cool you home.
If you're looking for an energy efficient home, contact us today. If you have a green home you're ready to sell, let us guide you through the selling process.
Make Sure Your Deck is an Asset, Not an Eyesore
It's the little extras in a home that really seem to seal the deal. A garden tub, a spa, and a beautiful deck are sometimes just enough to persuade a home buyer to select a certain property. For that reason, it's a good idea to protect your own investment in real estate by adding extras and maintaining them to make your property more saleable.
Unfortunately, extras that are poorly installed or constructed can actually become eyesores and detract from a property's value. Today we'll focus on adding a deck to your new or existing home with materials that are attractive, easy to work with and long lasting.
There are many, many types of wood with which you can construct your deck. Before you decide, consider the pros and cons of several different types of materials. Be sure to take into consideration:
Below is a quick-reference table to help you narrow your materials selections down to a few.
|
Material |
Pros |
Cons |
|
Cedar |
Popular, available, durable, light, easy to handle, decay resistant |
Lower strength, high maintenance (requires annual coating) |
|
Mahogany |
Elegant, color-rich, durable, splinter-resistant |
More expensive than Cedar, still very reasonable |
|
Cypress |
Rot-resistant, easy to work with, visually unique, durable |
Not as readily available as Cedar and Mahogany |
|
Pine |
Classic, lightweight, easy to handle, easy to paint or finish, inexpensive compared to other types of wood, moderately strong |
High maintenance, not as durable as many other types of wood |
|
Redwood |
Visually appealing with red hue, decay resistant, easy to work with, paintable |
More expensive than many other traditional woods, high maintenance, lower strength than some woods like Cypress and Pine |
|
Exotic (Ipe, Meranti) |
Unusual, extremely strong, fire resistant, insect resistant |
Expensive, must be special ordered, can be hard to handle, controversy surrounding harvest of exotic hardwoods |
|
Pressure-treated Fir |
Fairly strong, easy to use, inexpensive, easy to find, rot-resistant |
Color can be a problem with green and brown tints, contains toxin troublesome to the environment |
|
Composite lumber |
Looks like wood, fairly inexpensive, readily available, durable, easy to work with |
High maintenance, not as visually appealing as other products, shows wear and tear quicker |
|
Synthetics (recycled rubber, vinyl, plastic) |
Very durable, fade resistant, insect resistant, various colors available, easy to work with |
Limited parts available for projects outside of decks, can crack and dry with improper maintenance, a little harder to work with than traditional woods |
|
Concrete |
Extremely durable, almost maintenance free, inexpensive, easy to find |
Harder to work with than traditional wood, nearly impossible to remove, requires advanced skills for installation |
Any improvement you make to your home should be done with added value in mind! Build improvements to be visually appealing, lasting, functional and low maintenance.
Cold Reality about Ice Removal
Many states in America are grappling with blizzards and freezing temperatures right now. If you're not in one of those locations, consider your self lucky! If you are, staying safe and warm is probably your primary focus.
Icy walkways and driveways can be dangerous. In some cases, not even a shovel or snow-blower can protect you from that thin, dark, barely visible layer of ice that bonds to surfaces and doesn't thaw until spring.
It can be tempting to buy chemicals at the local hardware store to remove stubborn frozen leftovers. They are very effective. But before you do buy, know what you're shopping for and understand the potential residual effects to your yard,concrete paths, and to the environment in general.
Remove Deep Snow
It is not cost effective to melt deep snow with chemicals. It can also be dangerous to the surrounding environment. Before attempting to remove ice that has bonded to your walkways and driveways remove as much of the snow as you can with a shovel, snow blower, or plow.
Although ice may appear to be frozen on top of pavement, ice actually bonds to porous surfaces. In order to properly remove the ice, it's important to actually break that bond. Some chemical products are designed to do just that. Others are designed to prevent bonds from forming at all.
Choosing Between a De-icer and an Anti-icer
All chemicals for icy winter conditions are not created equal. There are two basic groups:
1. De-icers
2. Anti-icers
De-icers are generally spread over snow or ice. Remove as much as possible before using these chemical's intended to get into the pavement's surface and break the icy bond. De-icers can actually make the snow removal process easier and less work with a much cleaner result.
Anti-icers should be applied before it snows. A little preventative maintenance can go a long way. These chemicals are designed to prevent snow and ice from bonding to paved surfaces. Many manufacturers combine the two products.
Rock Salt, 'to Use or Not to Use'
Rock salt is pretty cost effective. It's inexpensive and easy to spread. However, as harmless and natural as rock salt might seem, it has some pretty nasty side effects.
Rock salt is known to:
Potential risks researched by the U.S. Environmental Protection Agency sent manufacturers looking for environmentally-friendly alternatives. The key to using any chemical is to follow the manufacturer's instructions closely and avoid overuse.
Carefully read the label of any chemical product before you buy it. Better yet, consider strategies that will help you avoid the use of chemicals at all.
Make Technology a Part of the Plan
There are many strategies used today to combat ice. If you are building a home in a location known for harsh weather, consider incorporating some of these strategies. If you are remodeling, or rebuilding decks, sidewalks and driveways, now is a good time to consider your alternatives. You don't have to completely rebuild to simplify the process, there are alternatives you can add on with very little time or expense.
Research the use of:
Experienced property managers know maintaining and replacing dirty, worn or damaged carpeting is a major expense. There are many variables that can impact carpeting in a rental unit ranging from tenant traffic to the existence to pets to the quality of carpet you install in the first place.
While you may not have control over all factors that impact carpeting in rental units, there are many ways to extend the life of carpeting and save money when it comes to repairing and replacing it.
1. Establish clear rules for tenants who occupy your rental homes. Pets can be hard on carpeting. If you plan to preserve existing carpeting by eliminating pets from the equation, spell it out in your rental agreement and clarify whether or not you allow pets verbally with occupants. If you do plan to allow pets, plan to replace carpet more often and build a carpeting allowance into your maintenance budget. Consider requiring a non-refundable carpet cleaning fee upon move-in to be used when the tenant moves out. People who want to house their pets too are often willing to pay an increased deposit for the privilege. Make it clear that carpet damage due to pets will be recovered from the deposit.
2. Install carpeting that is durable and will withstand normal wear and tear. If you do allow pets, install less expensive carpet that can be easily replaced. It is often easier to replace carpeting than it is to clean it. Accidents and spills happen. Carpet gets worn and torn regardless of the grade you use. Rental units are notorious for frequent tenants moving in and out. When furniture is moved across the floor, floor coverings can be damaged. When you buy carpet, determine the life expectancy of the carpet and budget accordingly. There are many factors to consider when you factor the life expectancy including the types of tenants to whom you plan to rent. Including:
a. The average age of your tenants (more mature people tend to be less rough on carpets)
b. The number of children who will be living in the home
c. The climate where the home is located (excess moisture can damage carpets naturally)
d. Landscaping immediately around the home (have you installed concrete, lawn or other elements that will minimize the tracking of mud and dirt onto carpets?)
e. The average length of stay (when tenants live in a home for an extended period of time, they are more likely to take better care of the carpet-if tenants stay for more than five years, it makes sense to invest in a higher grade of carpeting.)
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