Should You Buy a Home?

The Zillow Home Value Index fell 26% (national average) since its peak in June 2006. That’s a greater decline than seen in the Depression-era years of 1928 to 1933.

According to Zillow.com, "November marked the 53rd consecutive month of home value declines, with the Zillow Home Value Index (ZHVI) falling 0.8% from October to November, and falling 5.1% year-over-year.” Remember these are national figures, not Rochester-specific.

However, all signs point to an increase in consumer confidence and the economy getting better. Maybe. But, if you’ve been watching, waiting, and wondering, when to buy ... . Now’s the time to take note. While no one can predict what will happen with the housing market, some experts are reporting that an uptrend will occur later this year. They’re basing their beliefs on the job market (some predictions indicate it will improve half-way through this year), and "Homebuilder exchange traded funds are above their 200-day moving averages,” according to ETFTrends.com

Signs indicate you could possible buy low now, and sell high later.

A simple way to look at real estate is to understand your specific needs, wants, and long-term goals. Do you need a place to live? Are you planning to stay in your home for at least a couple of years? (Most buyers live in their home on average seven years). Does owning your home matter? Have you saved money for a downpayment?

Answering these questions will help point you in the right direction. Timing the market is like trying to win the lottery. There is no absolute way to know when it’s the bottom of the real estate market. That’s why you must know your specific needs, wants, and long-term goals.

If your needs include a home to live in for a lengthy period of time, then homeownership will likely rank higher on your priority list. If building credit, potential of appreciation–yes, there is still appreciation–especially when you buy a sensibly priced home in a good location. However, the appreciation may be slower and not shoot up into the double digits that we saw in some areas.

Consider this, with high inventory, sellers are motivated. You can scoop up a home at a perfect price and you can minimize your potential for low appreciation. If you choose a home that is in the lower-tier of prices (and still within your target price), your home will be less vulnerable in down markets and better situated in up markets because the higher-priced homes help elevate your home’s value.

Homeownership has many benefits including tax deductions, the opportunity to make your own creative changes to your home, and the potential for income if you later rent it out.

Study Says Marriage is Good for You

Remember that old joke, "Take my wife... please."?

Well a new study suggests marriage is actually good for your health.

British researchers found that on average, married people live longer than their single peers. They say marriage appears to improve the mental health of women and the physical health of men.

But not all relationships are good for you. The study found single people have better mental health than those in troubled relationships and that divorce can have a devastating impact as well. Well, that's probably one of those things that you didn't need a study to figure out, either.

So, get in a good relationship and live longer... but you could still be hit by a bus tomorrow. Cheers!

Why Buyers are Buying...

The Wall Street Journal is reporting that “affordability” is the top reason for home buying in 2010.

It is evident that affordability would be a top reason, especially in these unstable market conditions. Buyers, as always, are looking for a bargain but, more than ever, they’ve been enticed by low home prices and low interest rates, according to a survey by Weicher Realtors, Inc.

The survey gathered information from 1,261 of the company’s customers who bought homes between July 1 through December 31, 2010.

Another influencer was the desire for more living space. According to the Wall Street Journal the survey reported that 28% of the respondents said, “they bought a house because they wanted more living space or a larger property”. However, 11% of those surveyed said that “potential financial growth” motivated them to purchase a home. This response is similar to the answers received in the survey’s first year (2005) when respondents answered the question, “What motivated you to purchase your home at this time?”

Remember, selling your home is about creating value for buyers. That means how you live in your home may not be the way you show your home. You may have to put away a lot of the clutter such as trinkets, family photos, pet toys, electrical cords, kids’ toys, and anything else that is personal to you. By doing this you’ll create a greater chance of buyers viewing your home as theirs. And that's value.

Tips for Appraisals

Appraisals allow homeowners and buyers to establish what is fair market value of a property. In addition, an appraisal allows a lender to know how much they can safely lend.

This process, however, can be trying and even frustrating. Sometimes an appraisal can even put the kaibash on a deal. To reduce your stress during this time, consider these simple tips:

•Understand the role of appraisals. It is neither in your interest nor the interest of your lender for you to purchase a property that is over-priced for its value.

•Make sure the lender hires a qualified appraiser. The lowest priced appraiser does not necessarily equate with the most qualified. This is a time to get the numbers right.

•Accompany the appraiser during the inspection of the property if possible. The more active participant you are in the process, the more you will understand it, and be able to catch any errors.

•Request a copy of the appraisal report from the lender. Federal law requires that you receive a copy of the appraisal within 30 days.

•Examine the appraisal report and ask questions. Be sure to examine the report for errors.

•Appeal the appraisal if appropriate. Market conditions do change, especially in these economic times. If you feel that new information may change the appraisal, be sure to contact them!

•Ask the lender to order a second appraisal by a qualified and designated appraiser.

•File legitimate complaints with appropriate state board or professional appraisal organizations.

For more information on appraisals, you may wish to visit The Appraisal Institute's website at www.appraisalinstitute.org.

Pending Home Sales Figures Inch Up

While credit remains tight as we move forward into 2011, top economists expect that if the job market revives this year, and interest rates rise only moderately, the housing market could experience a boost.

Pending homes sales are already on the rise. The National Association of Realtors' Pending Home Sales Index reports that pending homes sales rose in November by 3.5 percent.

Across the nation, we see regionally diverse markets. The Northeast saw pending home sales rise by 1.8 percent, but this figure is still 6.2 percent below November 2009. The West also saw a stunning 18.2 percent jump. This jump leaves it within 0.4 percent of year ago levels.

Both the Midwest and South saw declines, though, in pending sales. The Midwest declined 4.2 percent and is still 7.7 percent below year ago levels. The South fell only 1.8 percent.

For now, the 30-year fixed rate mortgage remains in the low five percent range, which is near a historical low. The extension of Bush-era tax credits, as well as renewed hopes of job growth could very easily translate into more sales on the housing market horizon.

Winter Lawn Care

Right now with no snow on the ground, Winter may have your lawn looking less than stellar. To keep your neighbors happy -- and potential buyers interested -- take a look at these lawn care tips.

By taking a few precautions during the Winter, you can ensure a healthy lawn come Springtime.

The first, and perhaps easiest, step is to pick up any leaves that cover your lawn. If left sitting over grass, they will create dead spots.

The same goes for clutter and debris, such as toys. You may think that grass is completely dormant during Winter months, however, grass still needs oxygen and sunlight to maintain life. If you have it covered, you have it smothered.

The next step, do not drive on the grass. Winter is a time for holiday parties and family get-togethers. Many people may be tempted to park on lawns. Resist the urge!

You can take lawn care two steps further, as well.

If your lawn has pH issues, now is the time to treat it with lime and other additives. Contact your local lawn specialist for more information.

Late Winter is also the time to aerate your lawn. Aerating is making small holes in the surface of your lawn, you allow for deeper root growth. You also allow nutrients to gain direct access to the grass roots. This should give you a fuller, thicker lawn.

Follow these simple steps and wake up to a beautiful Spring lawn!

Christmas Mailing Deadlines

So, just in case you are one of those people that wait until the last minute for everyting, (unlike myself, ahem) it's not too late to get those presents out!

If you still haven't mailed out your Christmas gifts to Uncle Bob and Aunt Shirley, or your Christmas cards with the yearly family newsletter novella, you still have time for them to get there by Christmas!

For first-class cards and letters to be delivered by Christmas, you need to mail them by Monday, December 20th.

For priority mail, the deadline is Tuesday, December 21st and for express mail, it's Wednesday, December 23rd.

So, get out there and get going, but maybe next year to save some stress, plan ahead. Happy Holidays!

Mortgage Rates Inch Up Again, It's Time to Buy

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), which found that both fixed- and short-term mortgage rates continued to rise this week. This was the fifth week in a row where fixed-rate mortgage rates were up.

30-year fixed-rate mortgage (FRM) averaged 4.83 percent with an average 0.7 point for the week ending December 16, 2010, up from last week when it averaged 4.61 percent. Last year at this time, the 30-year FRM averaged 4.94 percent.

What does this mean to you, the buyer? It means rates are still low but inching up. Rates are still lower than last year. So, perhaps you should get while the gettin's good? It may be time to buy before rates go up much higher.

Homeownership Going Back to a Long Term Investment

Is there value in owning a home? The recently released 2010 National Association of REALTORS® Profile of Home Buyers and Sellers brings some promising results. Today homeowners are living in their homes longer, and after several years of price declines, are seeing rises in home equity gains.

It was only earlier this decade that so many buyers jumped on the investment bandwagon. They bought and sold within incredibly short time frames, and walked away with profits. But as the booms busted, many sellers found they had bought at the top of the market and as prices corrected, they lost more than just dollars. Foreclosure rates skyrocketed. Historically, however, homeownership is a long term investment, and one that brings many rewards.

Current market and economic conditions have created a shift from the house flipping ways of the boom. The house flipping and quick gains which occurred during the boom period were abnormal, driven by risky, easy-money financing that should never have been allowed in the market.

American are still buying, however. And surveys have found there are particular reasons behind these purchases. These include the desire to own a home, the desire for a larger home, a change in family situation and taking advantage of the home buyer tax credit, a job-related move, and then the current supply of affordable homes.

And once they buy, homeowners are staying put longer. A typical seller has been in their home for 8 years, but the survey reveals first-time buyers are planning to stay for 10 years, and repeat buyers for 15 years.

Even with several years of price declines, the typical seller who purchased a home eight years ago experienced a median equity gain of $33,000, a 24 percent increase, while sellers who were in their homes for 11 to 15 years saw a median gain of 40 percent. So, once again buying for the long-term is steering its way back into value.

A Fun Christmas Tree Fact...

There are few traditions more grand than the Christmas tree that adorns Rockefeller Center every year. But did you know that is not the tallest Christmas tree in America?

The tree at Rockefeller Center comes in at just number 9 this year at 74 feet high. The other top 10 are as follows:

10. Houston's City Hall, 70 ft.

8. Portland, OR, Pioneer Square, 75 ft.
7. Boston, MA, Fanueil Hall, 85 ft.
6. Toledo, OH, Toledo Zoo, 85 ft.
5. Kansas City, MO, Crown Center Square, 100 ft.
4. Los Angeles, CA, The Americana at Brand & the Grove at Farmers
Market, 100 ft.
3. Anthem, AZ, The Outlets, 110 ft.
2. Ferndale, CA, Victoria Village, 150 ft.

And topping the list...

Number 1, Coeur d'Alane Resort, IA, Coeur d'Alane Resort, 161 ft.

The number 1 tree is 87 feet taller than the Rockefeller Center Tree! Come on NY, we can't be outdone! Although, perhaps a tree that tall is a bit showy. Keep it classy NYC. *wink*

Sellers, Don't Let Your Emotions Get the Best of You

It can be easy for the selling experience to become clouded by emotion. A homeowner may have years of memories stored within the walls of a home. They look at a room, and instead of resale potential, they see a baby's first steps and early Christmas mornings. When the time comes to sell, however, the time has also come to sever emotional ties with a house.

Emotions can cloud your reasoning. And they can misguide you during a very expensive and important business transaction. Sellers sometimes overvalue their homes, adding in sentimental value on top of property value. They refuse offers that, while reasonable, don't add up to the value of their memories. Or they turn down a potential buyer, because they don't garden and won't "leave the rose bushes," or aren't the "type" of person they'd like living in their home.

For a smooth transition, hire an experienced real estate agent. Once you've turned yourself over to their guidance, you can then turn your focus onto the new phase of your life. And agent can help you establish a fair, and unbiased, asking price. They find the sellers. They show the house. And they help you sign on the dotted line. The middle man is extremely beneficial in separating from your emotions.

Your emotions may surface as soon as you list the house for sale, since many agents will suggest you remove many of your personal items from the house for staging. This is neither a personal attack on your decorating nor your memories. Staging is a wonderful way for homeowners to see the house as their future home, instead of seeing your house and your home.

Don't fret over lost memories; take pictures of your home and make a scrapbook. Channel your emotions into the joy of moving. And have fun imagining the new memories you'll make in your new place. This is not a time for mourning, instead it's a time for celebrating!

Operation Home Relief

The National Association of Realtors has extended its successful "Operation Home Relief" campaign, which is designed to give military service families a voice by contributing financial counseling and aid to help keep them in their homes. Though only launched last month, the NAR has already matched $20,000 in donations.

The NAR has used this Facebook campaign to promote USA Cares, an organization dedicated to providing aid to help post-9/11 veterans and active-duty military personnel avoid foreclosure.

Through the consumer website, HouseLogic.com, a free comprehensive website about homeownership for homeowners, Operation Home Relief aims to increase awareness, rally support and raise funding that provides foreclosure assistance in the form of financial counseling and grants to post-9/11 active duty U.S. military service personnel, veterans and their families."

Invite your friends (Operation Home Relief will donate $1 for every join until they reach their goal) by visiting apps.facebook.com.

Best Pizza In Rochester!

Okay, so those of you who know me well, also know that I am a bit of a food snob, particularly when it comes to Italian. Growing up in an immigrant household, I ate traditional Italian meals all prepared from scratch. My passion for eating developed into a passion for cooking. Seems like I am mostly disappointed when I eat at a resturant because I know I can prepare the food better at home. All bets are off though when I eat at Tony D's Coal Fired Pizza in Corn Hill Landing. The pizza there is just like the pizza I've enjoyed in Italy and the rest of the menu is equally devestating to my girth! A few weeks ago I enjoyed the gnocci and lamb ragu... and, a pizza! The pasta was as light as clouds and the dish just melted in my mouth. Tony DiCesare has a hit! Visit often and enjoy!

An Alternative to the Office Secret Santa

Are you tired of getting a scented candle from a co-worker that you barely know every year?

Trying something different this year. Instead of having a Secret Santa gift exchange amongst all your co-workers, call a local charity and sponsor a family in need. Have everyone in your office take the money they would have spent on specialty bath soaps, and Starbucks giftcards to exchange with co-workers and buy much needed items for a special family.

Several different charities provide lists to anyone who would like to sponsor a family. They will let you choose a family, and provide you with a wish list from that family. You will be surprised to see that how the wish lists often include very simple items that we take for granted such as mittens, gloves, coats, blankets, and books.

So won't you make a difference this holiday season? Re-think what it means to give and spread the joy, help out others in need.

Make the Most Out of Listing Your Home During the Holidays.

If your house is on the market during the upcoming holidays, step up the action plan to draw attention to it. Don’t let the holiday blues make you feel like there’s no hope. Homes are sold and bought this time of year. But the ones that get snatched up are the ones that are enticing to buyers.

Because this is a very busy time of year with personal travel and holiday celebrations, many real estate experts note that if you have buyers dropping by your open house or making an appointment to view your home, there’s a good chance they’re serious buyers.

There are some things you can do to make your home more “showable”. It's often said in the real estate industry, “the way you live in a home is not the way you stage a home.”

So, while this time of year often brings out all the holiday decor, there is such a thing as too much holiday cheer. It’s just that not all buyers celebrate the same holidays.

A good rule of thumb, is to keep decor simple and subtle. If you celebrate Christmas, go ahead and put a tree up but don’t put one up in every room. Remember that buyers will be looking at your home and imagining their own holiday celebrations there. So, be sure to leave them room to envision their lives in the home.

This goes for the outside too. Holiday lights can be placed outside very tastefully but ditch the huge inflatable characters that make it look like your yard is an amusement park. Instead, opt for a nice holiday wreath and some subtle seasonal decor. Keep in mind that curb appeal is what gets buyers in the door. If your home isn’t appealing from the outside, buyers won’t bother to stop for a look inside.

Stash the gifts. If you usually put them under the tree or around the house, save them for the day of your celebration. There are two reasons: presents take up precious floor space and they are a distraction. It’s a good idea to keep as many personal belongings as possible in a safe, private place.

Especially in cold weather areas, cinnamon pine cones or some other mild potpourris can be a pleasant welcome. But don’t go overboard with different fragrances in every room.

Another nice touch is to spruce up the mantle. However, if you usually hang stockings with your family’s names on them, you might consider using less personal ones while showing your home. It’s the same reason, stagers will put away your personal photos—to create a space where buyers can imagine their photos and belongings in.

Listing your home for sale during the holidays doesn’t have to make you blue; in fact it can truly brighten your spirits by putting some green in your bank account. Just be sure to focus on making your home a buyer’s dream this holiday season.

Feng Shui Basics - Water.

Feng Shui is an ancient Chinese ascetic which plays upon the idea of creating ideal energy flow within your home and life.

Its goal is to achieve proper flow of Qi, pronounced chee, or life energy. And through proper energy flow, you can help invite balance, harmony, and prosperity into your life.

The five elements commonly mentioned in Feng Shui, as well as other works of Chinese literature, are metal, earth, fire, water, and wood.

Let's focus on the basics of "water."

In this discipline, it is all about placement. You can start with the front door to your home. By placing a water feature on the left-side of the door's exterior (inside looking out), you can bring in good luck! There can be too much of a good thing, however. And that means water features on both sides of your front door can lead to unluckiness.

Where should you place water features? Ask yourself where you'd like to enhance learning? Try out an office or kid's study area.

Just avoid placing a water feature in a bedroom, bathroom, or kitchen.

If you are in the need of some "good luck" then consider placing a water feature in your "wealth spot."

In Feng Shui, this is located at the corner diagonally across from the living room entrance. Consider placing a fish tank in this great location! Even a small goldfish bowl can work it's feng shui magic.

Of course, you can always harness the true power of water by building or buying a house near an existing body of water! Wherever your home, keep water as a part of your balanced life.

It's Party Time... Etiquette!

Hey kids, are now entering the holiday zone! And with that comes parties, gatherings, and family meals.

Are you unsure what proper etiquette is for these affairs? Have no fear! We have you covered.

1. RSVP: This is an abbreviation of the French term, "répondez, s'il vous plaît." It means to please reply to the host/hostess on whether or not you will be able to attend. Many guests feel these days that the RSVP is optional, but the rules of good etiquette, and thus a good guest, dictate that you reply. Among other things, it helps the host plan for the amounts of food and drink to prepare.

2. Dress Code: Invitations will generally clue you in to the proper attire. Formal, black tie, and dressy casual are common dress codes. If the event is especially important, don't hesitate to ask the host about the dress code. And always play it safe and age appropriate. It is much better to be slightly over-dressed than to show up to a formal affair in your jeans and t-shirt.

3. Bringing Guests: You may feel that one more won't make a difference at a big party, but always ask the host if you may bring a guest. Yes, that even applies to small gatherings at a friend's home.

4. Bringing Food: At large family gatherings or pot-luck meals it would be best to bring a dish of some sort with you. It need not be home-made, just thoughtful. If you ask the host what you may bring and they say everything is covered, be sure to bring a hostess gift.

5. Hostess Gift: Unless this is a work soiree or large charity event, bring the hostess a small token of your appreciation. A bottle of wine or a bouquet of flowers are time honored favorites.

6. When to Arrive: For formal gatherings the rule of thumb is to arrive within 10 to 15 minutes of the time noted on the invitation. For more informal gatherings you can arrive up to 30 minutes after the time noted. You don't, however, want to show up early. Your hostess may still be getting ready!

7. How Long to Stay: If the invitation doesn't outline when the party is set to end, it can sometimes be difficult to know when to call it a night. Watch the other guests for cues. When half of the guests have left, it's time to say good-bye. Also, look for clues that the host/hostess has had enough.

8. Don't Be a Party Pooper: It is your responsibility as a party guest to be respectful of the other guests and to have a good time. Sulking or pouting in the corner do nothing but lower the overall morale of the event. If you feel a night of party pooperish coming on, then summon your party persona or excuse yourself from the soiree!

8. Saying Hello and Good-bye: Never come to a party without saying hello to the hostess at some point. And never leave without saying good-bye. The only exception is during a large affair when the hostess is obviously busy or in the middle of a conversation.

9. Thank-you notes: Even your grandma deserves to know that the meal she slaved over for a day and a half was appreciated. Sending a heart-felt thank-you card is always appropriate.

Follow these tips this season and you and your host are sure to have a grand time!

Is a Foreclsure Right for You?

Does buying a foreclosed property save you money?

If you are looking to make an investment, however, you need to consider the market in which you are buying a foreclosure. A weak and ailing market could mean values will continue to fall. Buyers may be scarce. This is not an ideal environment for an investment.

Other issues must be taken into consideration, as well. The process of buying a foreclosure can take weeks longer than traditional deals. This is simply the nature of the beast. A foreclosure is a legal process. A foreclosure also means you must buy title insurance. A title search will pick up errors before you sign the check and protect you if something was overlooked. In the unlikely event that a former owner returns to challenge the foreclosure, the insurance company will defend you.

Foreclosed houses also warrant very close home inspections. There have been horror stories of new owners finding cement poured down drains by the disgruntled evicted. Be sure to see the house for yourself before you sign on the dotted line. And have a licensed professional carefully examine the home.

Even if the property hasn't been purposefully vandalized, many foreclosures need extensive repairs. A home may simply have been neglected and older homes require updates and normal upkeep. Budget carefully as you assess how much work the property will require.

If you take all of these matters into consideration, a foreclosed property may be the ideal buy for you.

Happy Day of the Dead!

Did you all have a fun Halloween? No, well you're in luck, you have a chance to make up for it with "Day of the Dead"!

Day of the Dead is a holiday celebrated by many in Mexico and by some Mexican Americans living in the United States and Canada. The holiday focuses on gatherings of family and friends to pray for and remember friends and family members who have died. The celebration occurs on November 2 in connection with the Catholic holidays of All Saints' Day (November 1) and All Souls' Day (November 2). Traditions connected with the holiday include building private altars honoring the deceased using sugar skulls, marigolds, and the favorite foods and beverages of the departed and visiting graves with these as gifts. Due to occurring shortly after Halloween, the Day of the Dead is sometimes thought to be a similar holiday, although the two actually have little in common. The Day of the Dead is a time of celebration, where partying is common.

Scholars trace the origins of the modern holiday to indigenous observances dating back thousands of years and to an Aztec festival dedicated to a goddess called Mictecacihuatl. In Brazil, Dia de Finados is a public holiday that many Brazilians celebrate by visiting cemeteries and churches. In Spain, there are festivals and parades, and, at the end of the day, people gather at cemeteries and pray for their dead loved ones. Similar observances occur elsewhere in Europe, and similarly themed celebrations appear in many Asian and African cultures.

So if you didn't have enough Halloween... get your Dead on! (This may or may not include Jerry Garcia)

Go Green and Be Warm with Heated Floors!

It's that time of year again! We're feeling a chill in the air and the leaves are turning, you know it’s time to load up the fireplaces with wood, close up the windows, and turn on the floors.

Say what? Turn on the floors? Yes, radiant heating is as attractive to cold toes, it's better than wool socks!

These days radiant floors are becoming more popular especially for those interested in green design. There are several benefits for the environment and your pocketbook. As the floors get toasty warm, they help heat the rest of the room by warming it up and making it more comfortable on a cold night.

A lot of people rely on central heating systems and while these work, they often fill the upper part of the room with hot air--making it stuffy and not quite providing the warmth needed where people are actually present in the room. The even heat distribution helps lower the cost of the home’s heating bill.

But perhaps the two biggest advantages are silent and unseen heating. With no heat registers or radiators, you can place furniture how you like without being concerned about blocking a heating system. Of course, there will be no forced hot-air fan noise, making this an invisible heating design.

The concept isn’t new, heated floors date back centuries. The Romans used to channel hot air underneath their floors to warm their villas. Today, it’s the allure of going green that also adds to the interest of installing radiant floors.