Cathy's Blog

Identity Theft, how to prevent

Cathy Miller (Keefe Real Estate) — Sat, 22 Sep 2007 09:17:08 -0500

By Marshall Loeb, MarketWatch

RISMEDIA, Sept. 21, 2007-(MarketWatch)-Identity theft strikes nearly 10 million Americans each year, says a 2003 study by the Federal Trade Commission. While there's no way to guarantee that you won't become one of the victims, you can minimize your risk by following these six simple rules:

1.) Carry as little information as possible. The more you lug around with you, the easier you make it for an opportunist to assume your identity. So try to limit the contents of your wallet to the bare necessities: one credit card, an ATM card and a driver's license. Whatever you do: Don't walk around with your Social Security card, birth certificate or passport unless it's absolutely necessary.
2.) Keep a list of account numbers and contact information. No matter how conscientious you are, you may end up the victim of a robbery (or simple absentmindedness), so prepare for the worst. Keep a copy of all of your account numbers along with relevant contact information in a safe place. This will streamline the process of reporting cards missing and ordering replacements.
3.) Secure your computer. Virus and spyware protection are your first line of defense; make sure you've installed that software on your system. Then, set up your computer to automatically download any updates or "patches." When choosing passwords, it's best to go with something intricate, preferably a combination of letters, numbers, and characters. But keep passwords simple enough that you can memorize them so you don't have to keep a written record. Avoid using readily available information, such as your mother's maiden name, your birthday or your Social Security number.
4.) Protect your checks. When preparing to order new checks, don't make the mistake of throwing the leftover checks in the bin without destroying them first. It's also wise to avoid having new checks sent to your home as they could easily fall into the wrong hands. Instead, request to pick the checks up from your local branch. Warning: Never have your Social Security number printed on your checks!
5.) Watch what you throw away. We'll say it again: It pays to invest in a shredder. You're tempting fate when you throw away financial information, like bank statements, ATM receipts and credit-card offers.
6.) Place a fraud alert on your account. If you're particularly concerned about identity theft, go the extra mile: contact the fraud departments of the three major credit bureaus, Experian, TransUnion and Equifax, and have a fraud alert placed on your file. After the alert goes into effect (usually within 24 hours), the agencies will contact you by phone to verify any new activity on your account. But be warned: your account will be monitored for only 90 days unless you reactivate the fraud alert.

Marshall Loeb, former editor of Fortune, Money, and the Columbia Journalism Review, writes for MarketWatch.

A little history to lighten the day

Cathy Miller (Keefe Real Estate) — Wed, 01 Aug 2007 12:58:27 -0500

This Day in History: Elvis Makes His Debut
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RISMEDIA, July 30, 2007-Elvis Aaron Presley (January 8, 1935 - August 16, 1977), was an American singer, musician and actor. Now a cultural icon, he made his first public performance in 1954.

At the Overton Park Shell, Presley, accompanied by Winfield "Scotty" Moore (electric guitar) and Bill Black (slap bass) performed, billed as The Blue Moon Boys, with Slim Whitman headlining. Presley was apparently so nervous during this show that his legs shook uncontrollably. His wide-legged pants emphasized his leg movements, apparently causing the young women in the audience to go ‘crazy'. Presley is said to have had little understanding about what caused the fans to scream, but he would consciously incorporate similar movements into future shows.

Did You Also Know That Elvis Presley:
- Appeared at the Grand Ole Opry, Nashville, on October 2. He performed "Blue Moon of Kentucky" but received only a polite response. Afterwards, the singer was allegedly told: "Boy, you'd better keep driving that truck."
- Elvis is known simply as Elvis; and also "The King of Rock ‘n' Roll", or simply "The King".
- Presley began his career as one of the first performers of rockabilly, an uptempo fusion of country and rhythm and blues with a strong back beat.
- His novel versions of existing songs, mixing ‘black' and ‘white' sounds, made him popular - and controversial - as did his uninhibited stage and television performances.
- He recorded songs in the rock and roll genre, with tracks like "Jailhouse Rock" and "Hound Dog" later embodying the style.
- To date, he is the only performer to have been inducted into three separate music ‘Halls of Fame' genres.
- Presley made thirty-three movies, the majority during the 1960s, but he made a critically-acclaimed return to live music in 1968, followed by performances in Las Vegas and across the U.S.
- Throughout his career, he set records for concert attendance, television ratings and records sales. He is one of the best-selling and most influential artists in the history of popular music.

For latest news in Real Estate go to following link

Cathy Miller (Keefe Real Estate) — Thu, 26 Jul 2007 09:39:01 -0500

http://www.keeferealestate.com/newsletter/newsletter_2007_07.htm

Interest Rates

Cathy Miller (Keefe Real Estate) — Wed, 27 Jun 2007 15:02:08 -0500

Pam Franzen

Mortgage Consultant

Charter Funding

Phone: 262-745-2272

Fax: 262-997-1152

pamela.franzen@charterfunding.com

Interest Rates

When is the Best Time to Lock?

When it comes to mortgage loans and interest rates, it's never a good idea to

gamble. That's why I typically advise my clients to lock in an interest rate at the

earliest opportunity. This is just one step of the standardized system we have

put in place to ensure the best possible loan experience for each borrower that

we work with.

A mortgage loan cannot be closed without a locked-in rate, and there are three

main elements to take into consideration:

· Interest Rate

· Points or fees

· Length of the lock

Locking in a rate does not obligate the borrower to commit to the loan until the

loan is actually closed. The lock is merely a security measure designed to

eliminate the risk of market volatility throughout the duration of the purchase or

refinance transaction. As long as the loan is approved and funded before the

end of the lock period, the borrower will receive the interest rate quoted.

When a lender permits an extended lock-in period, the borrower will likely face a higher interest rate or additional fees

that could be quoted as points. In other words, the borrower pays for the lender to take on the extended risk of being

exposed to potential changes in the market.

For example, let's say a 30-day rate lock commitment costs the borrower one-half point, while a 60-day rate lock

commitment costs one full point. If the borrower in this scenario needed the extended lock period, but did not want to pay

points, then an alternative would be to accept a slightly higher interest rate. In this case, a 60-day lock would typically

have a higher interest rate than a 30-day lock.

Our standard procedure is to lock in a rate as quickly as possible. My team and I want our clients to know that while

interest rates fluctuate daily, most lenders do not want to lose any business because of it. If a significant rally causes

interest rates to drop 0.25% or more, we know that we can most likely renegotiate the rate. In many cases, lenders prefer

this option over losing the loan to another lender. On the other hand, if we'd allowed our clients to sit on the fence and not

lock in their rate, we would have exposed them to market volatility without a safety net. Then, if rates were to increase, the

borrower might no longer qualify for the loan they want - a situation that we want to avoid at all costs.

By knowing our clients' needs and working intimately with them to make the right decisions early on, my team and I are

proud to say that we have helped them to achieve their home ownership dreams.

If you'd like to learn more about the loan programs we have available, please call me!

The Federal Reserve and Mortgage Rates

Cathy Miller (Keefe Real Estate) — Tue, 26 Jun 2007 11:26:15 -0500

Pam Franzen

Mortgage Consultant

Charter Funding

Phone: 262-745-2272

Fax: 262-997-1152

pamela.franzen@charterfunding.com

The Federal Reserve and Mortgage Rates

Understanding What Causes Interest Rate Movement

The Federal Reserve constantly evaluates the US economy and, when

necessary, takes steps to address inflationary concerns and avoid economic

recession or depression. The mass media, in turn, reacts by providing a wide

range of opinions and interpretations of the Fed's monetary policy. This can

make it very difficult for consumers to decipher how such actions will influence

interest rates in general and mortgages in particular.

And although actions of the Federal Reserve can have a direct impact on the

Prime rate, mortgage interest rates are dictated by the trading of

mortgage-backed securities, which are similar to bonds and trade on a daily

basis. This means that the real dynamic at the heart of interest rate movement is

the competitive relationship between stocks and bonds.

Stocks, bonds, and mortgage-backed securities compete for the same investment dollars on a daily basis. There is

literally only so much money to be invested. When the Federal Reserve feels that interest rates need to be decreased in

an effort to stimulate the economy, this reduction in rates can often cause a stock market rally. When the market becomes

bullish, the money to invest in stocks comes from the selling off of other investments, including mortgage-backed

securities.

Unfortunately, when mortgage-backed securities are sold off to fuel stock market rallies, this causes interest rates to go

up, not down.

Historically, there have been many instances where the Federal Reserve has increased interest rates, arousing fears that

corporate profit margins would be affected. This resulted in stocks being sold off, leading money managers to search for a

place to invest their newly liquidated assets until the next market rally. One such safe haven has been mortgage-backed

securities, which cause mortgage rates to drop.

The daily ebb and flow of money is what matters most when it comes to the movement of mortgage interest rates. I make

it a point to continuously monitor interest rates for my clients and advise them of opportunities to manage their mortgage

debt at a better rate. This is the foundation of my business model as a trusted advisor.

If media reports have led you to second guess whether it's a good time to purchase a new home, give me a call.
We'll analyze your financial situation together and create a plan that's right for you

Barbeque Etiquette for the Fourth of July

Cathy Miller (Keefe Real Estate) — Tue, 26 Jun 2007 10:58:07 -0500

Barbeque Etiquette for the Fourth of July, the Most Popular Grilling Occasion of the Year

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RISMEDIA, June 26, 2007?The grill is at the center of the celebration on the Fourth of July, the most popular grilling holiday of the year. According to the Hearth, Patio & Barbecue Association (HPBA), on Independence Day, 71% of grill owners declare freedom from indoor stovetops and ovens, opting instead to fire-up grills in pursuit of delicious grilled food.

The pleasure of preparing a meal with no pots and pans to clean-up, coupled with the enjoyment of the outdoors, are among the top reasons consumers grill - especially on the Fourth of July. Whether you are attending a barbecue or hosting one at your house, HPBA recommends brushing up on your barbecue etiquette and grilling tips to ensure a happy holiday for yourself, friends and family.

As the barbecue host:

-? Do have all grilled food ready at relatively the same time.
-? Do offer grilled vegetarian options.
-? Do think of unique and different types of food items to grill. Fruit, veggies, pizzas and even appetizers can be grilled, not just meat.

As a barbecue guest:

-?? Do feel okay bringing your own sauce.
-?? Do expect the meat to be provided by the host, but pull your weight by bringing your own sides and beverages. Go the extra mile and bring enough to share with others.
-?? Do not touch the grill! In a recent HPBA survey, respondents said only the host/hostess should ‘man' the grill. As a guest you can look, but don't touch.
-?? Do keep food at 40 degrees F using an insulated cooler with ice or ice packs when carrying food to a barbecue.

Food handling reminders:

-?? Do thaw frozen food and marinate foods in the refrigerator and never on the counter.
-?? Do sanitize cutting boards and counter tops with chlorine bleach. Pour small amount on surface and let stand several minutes, rinse thoroughly and air dry with clean paper towel. Soak sponges and dishcloths in hot soapy water to which you've added chlorine bleach.
-?? Do boil any marinade to destroy bacteria if you plan to baste with it or serve it with the cooked meat. Never save marinades for reuse.
-? Marinate meats at least 30 minutes in the refrigerator before cooking to add flavor and coat the meat.
-?? Do refrigerate leftover food quickly (no more than two hours) and use within a couple of days.

When grilling:

-?? Trim any excess fat from meat and poultry to help prevent grill flare-ups.
-?? Turn food often with tongs to prevent charring. Browning is good, but charring is not. Do not press, flatten or pierce the meat ? flavorful juices will be lost and may cause flare-ups. Helpful tip: Browning is a key flavor factor and helps impart delicious flavor and aroma to foods. Should your meat become charred, remove those areas before eating.
-?? Proper cooking temperature is critical to delicious, flavorful food. Use medium heat to avoid overcooking or charring meat, poultry or seafood.
-? Use a meat thermometer or an "instant read" digital thermometer inserted horizontally into the side of meat, poultry and seafood to check doneness.

Recommended Internal Temperatures:

??? Poultry???????????????????????????????? ??165 degrees F
??? Ground beef???????????????????????????? ??160 degrees F
??? Pork (chops, ground, tenderloin)??? ?160 degrees F
??? Large cut pork roasts????????????????? ??150 degrees F
??? Beef roasts, steaks, seafood and lamb?? ?145 degrees F

For more grilling tips, recipes and information, please visit http://www.hpba.org/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

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Choosing the Right Real Estate Agent

Cathy Miller (Keefe Real Estate) — Sat, 23 Jun 2007 12:54:12 -0500

Pam Franzen

Mortgage Consultant

Charter Funding

Phone: 262-745-2272

Fax: 262-997-1152

pamela.franzen@charterfunding.com

Choosing the Right Real Estate Agent

Choosing the right person to represent you in negotiating your home

purchase is a major decision. Whenever you see the designation of

REALTOR® (with a registered trademark) you can rest assured that person

is a member of the NATIONAL ASSOCIATION OF REALTORS® (NAR),

and has a commitment to meeting the standards of the organization. My

team and I have a network of professionals that have done a great job for

our clients in the past, and we can provide you with a referral to a qualified

representative, and pre-approval to shop as a cash buyer.

How will you know which REALTOR® is right for you?

Seek to work with an experienced Real Estate professional that works with

buyers on a regular basis. A real pro will go the extra mile to show you that

they will look out for your best interest and gain your respect. Sincerity is a

key word here. This type of Real Estate Agent will act promptly to get you information about their team and their methods

of doing business, along with quotes and references from past clients.

Once you set an appointment to meet with a Real Estate Agent and his/her team, they should be rolling out the red carpet

for you. You should have a personal introduction to each person you are expected to have contact with throughout the

buying process. They should go out of their way to establish a long-term relationship with you, rather than thinking of you

as a one-time transaction.

An experienced buyer's representative will ask many questions regarding your goals rather than tell you what they think

you want to hear. He/she will also take your finances into consideration so that they can help you make the purchase you

qualify for. They will seek to exceed your expectations in every way by having a system in place that provides complete

customer satisfaction.

What can an experienced REALTOR® do for you?

An experienced professional will have access to the computerized Multiple Listing Service (MLS), which changes daily. He

or she can provide you with new listings to consider as they become available, and will also include important

demographics and market value information on the area you are seeking to buy a home. This person will serve as a

strong negotiator on your behalf and provide guidance every step of the way. In the long run, using a trained professional

will save you time and money. It is important to let your Real Estate Agent know what your goals are so he/she can

eliminate the listings that do not meet your criteria.

Likewise, it is equally important to let my team know what your goals are so we can provide you with financing that fits

your current and long-term goals. Our job is not just to close a loan for you, but to help you build a strong financial future

by assisting you with managing that debt in the future. We use an extensive database system that allows us to run reports

and determine when refinancing is appropriate and beneficial.

Call me directly for help finding a qualified REALTOR® you can trust.

National Home Safety Month

Cathy Miller (Keefe Real Estate) — Thu, 21 Jun 2007 10:29:01 -0500

June is National Home Safety Month; Are You Prepared for Fire Safety?

RISMEDIA, June 20, 2007-Just midway through National Home Safety Month, tragic house fires continue to dominate the headlines. There have been more than a dozen major multi-death house fires reported by the media in the past three weeks, including two house fires in Pittsburgh, Pennsylvania and Louisville, Kentucky that killed seven children.

"These tragedies are horrific. But, the real tragedy is what we don't learn from the headlines," says David Duley, CEO of PEARL Protected®, the creators of the patented Permanent Escape And Rescue Ladder (PEARL®) for two and three-story homes. "How many of us will go home and practice our fire escape plan or test our smoke alarms? It should be the first thing we think of when we hear of people, especially children, losing their lives in house fires."

Today, PEARL Protected urges homeowners and residents to complete the Home Safety Council's Home Safety Checklist which can be found online at www.hsc.org. This comprehensive checklist will walk readers through all aspects of home safety, from fall prevention to poison control and fire safety.

Additionally, PEARL Protected shares tips on how to prepare a customized fire safety plan for your home based on four critical components: prevention, detection, suppression and escape:

Prevention

- Be sure an adult is always in the kitchen or by the grill when cooking.
- Never leave a candle unattended and keep flames at least three feet away from curtains, furniture or other flammable materials.
- Keep matches and lighters out of sight and reach of children.
- Keep fuel or liquid that can catch on fire, like gasoline, propane, or kerosene, in a safe container outside of the home in a garage or shed.
- If anyone in your home smokes, use heavy, non-tip ashtrays and make sure all cigarettes/cigars are fully extinguished.
- Discard frayed or cracked electrical cords.

Detection

- Make sure you have smoke alarms on every level (even the basement).
- Check to make sure all smoke alarm batteries work. Then, check again every six months. Remember, if you're smoke alarm is more than 10 years old, replace it.
- Mount smoke alarms high on walls or ceilings. Smoke rises!
- Never remove a battery or disarm a smoke alarm.
- Make sure everyone in your home knows the sound of the smoke alarm, what to do next and that the alarm is loud enough to wake up sleeping children and adults.

Suppression

- Keep a fire extinguisher handy in fire-prone areas, like the kitchen and garage, for small fires.
- No matter how small the fire, if you can't extinguish it immediately, get out!

Escape

- Identify two SAFE ways out of every room in the house, especially upstairs. Draw these exits on a map and place a copy in every room.
- If your secondary exit out of an upstairs room is a window, have an easy-to-deploy escape ladder nearby. Permanent escape ladders are an excellent alternative. Unlike portable ladders, they are right where you need them, when you need them and are easy enough for a child to deploy.
- Practice fire escape drills twice a year. Have everyone practice escaping every room in the house and practice crawling low under smoke.
- Pick an outside meeting place where everyone can gather after they've escaped. Remember to mark this spot on your fire escape map!
- Keep doors, stairways and other exits clear of toys, furniture and other clutter.
- Memorize the emergency phone number of the fire department. Remind everyone that they should get out first, and then call for help from outside or at a neighbor's home.
- Close the door behind you. This will slow the spread of fire and smoke.

For more information, visit http://www.nfpa.org/ and http://www.pearlprotected.com/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Explanation of Annual Percentage Rate

Cathy Miller (Keefe Real Estate) — Mon, 18 Jun 2007 09:13:38 -0500

Pam Franzen

Mortgage Consultant

Charter Funding

Phone: 262-745-2272

Fax: 262-997-1152

pamela.franzen@charterfunding.com

Annual Percentage Rate

What is the Real Cost of Financing?

Annual Percentage Rate (APR) is a tool that consumers can use as a

starting point to compare loan programs. However, it's important to keep

in mind that APR is not a perfect system, and not all lenders calculate

APR in the same way. While the Federal Truth-in-Lending Act does

require any mortgage broker or lender to disclose APR to the consumer,

there is no rule written in stone for calculating this number that each and

every lender agrees upon.

The point of calculating APR is to let the consumer know what the actual

cost of their financing is in the form of a yearly rate. APR factors in

certain closing costs and fees associated with the loan, and spreads this

total over the life of the loan along with the actual note rate. The

objective is to give the consumer a clearer picture of what their actual

costs are, and this inhibits lenders from hiding fees or upfront costs behind low interest rates in their advertising.

Fees that are generally included in the APR calculation are points, pre-paid interest, loan processing fees, underwriting

fees, document preparation fees, and private mortgage insurance. On occasion, lenders will include a loan application fee

and/or credit life insurance. Fees that are normally not included in the APR calculation are fees from Title, Escrow,

attorney, notary, document preparation, home inspection, recording, transfer taxes, credit report and appraisal.

Remember, all lenders do not perform the calculation the same way. Moreover, APR does not consider the possibility of

making pre-payments, moving or refinancing. Unless the interest rate is tied to a fixed instrument, APR is even more

confusing. Calculating APRs on adjustable rate and balloon mortgages is more complex because we really have no way

of knowing what future rates will be.

If all lenders calculated APR the same way, we could make easy comparisons when deciding on what loan program to go

with. Since they don't, the consumer should know that APR is simply a starting point for comparison. They should rely on

the skills of a well-versed loan professional to assist them in obtaining the loan that meets their specific needs. The more

important things to consider are how long the loan is needed. What are the long-term goals of the borrower? If the

homebuyer only expects to stay in the home for five years, there's not a lot of sense in looking exclusively at 30-Year

Fixed rates because the APR seems more reasonable. If a young couple is buying a home, knowing they will refinance in

eight years to pay for their son's college education, then once again, APR is not a realistic factor to take into

consideration.

The Loan Executive should be prepared to answer questions about APR once the lender provides the Truth-in-Lending

Disclosure Statement (Reg Z), such as why the "amount financed" listed in Box C is not the same as the actual loan

amount, and why the APR is higher than the interest rate on the loan in most cases. The consumer will get a clear

definition about the fees associated with their loan in the good-faith estimate, but the Truth-in-Lending Disclosure is

often an area that is confusing to the borrower.

Stay tuned for more Business Boosters coming your way!

Housing slump into '08 likeyl

Cathy Miller (Keefe Real Estate) — Fri, 15 Jun 2007 12:06:52 -0500

Housing Slump into ‘08 Likely, Study Finds

RISMEDIA, June 14, 2007-(MCT)-The implosion of the subprime mortgage market is likely to prolong the national housing slump, Harvard University researchers said yesterday in their annual report on the state of the nation's housing.

"At a minimum it will slow any recovery," said Nicolas P. Retsinas, director of Harvard's Joint Center for Housing Studies, which issued the report. "Add to that the overbuilding and the inventory correction and you can see why it appears, particularly for the new-home market, that this slump will last well into 2008."

Housing-industry analysts say the riskiest subprime adjustable-rate loans were made in 2005 and 2006. As they reset at higher interest rates through 2008, they are likely to fuel the current surge in foreclosures.

As lenders move to tighten loose credit standards and prevent defaults, it will become harder and harder for subprime borrowers to refinance into more affordable loans, Retsinas said.

"One of the aftermaths of the subprime implosion was a tightening of credit," he said.

Retsinas said problems in the housing industry go beyond lending and foreclosures. Even as prices ease somewhat, affordability remains an issue in many areas, including San Diego.

As home prices doubled in San Diego County between 2000 and 2005, they far outpaced middle-wage incomes. With job expansion here concentrated in the low-paying service sector, the Harvard report foresaw no quick improvement in the region's low housing affordability.

When housing is prohibitively expensive, the economy suffers, Retsinas said.

"The danger is you're going to lose skilled workers who will move to a part of the country where they can get a job and afford a place to live."

University of San Diego economist Alan Gin said he expected home prices to "ease downward some, possibly into 2008." However, Gin agreed that local wages have not kept pace with home prices. Despite the slowing pace of home sales, housing costs have dropped only about 5% from the peak of the housing boom in fall 2005.

According to Harvard's "The State of the Nation's Housing 2007" report, everyone who attempted to profit during the nation's housing boom - buyers, sellers, builders and investors - played a role in the market's decline.

"This housing downturn has been driven largely by the market's own excesses," the report said.

Troubles from risky subprime loans are evident in U.S. markets where home prices soared during the first half of the decade. A record 525 San Diego County dwellings were reclaimed by lenders or sold at auction in April, exceeding a previous record of 433 properties in March, according to DataQuick Information Systems. Even so, foreclosures make up a small fraction of the local real estate market.

Doug Duncan, chief economist for the Mortgage Bankers Association, yesterday said subprime loans had done far more good than harm to the economy. Such loans have opened the door to homeownership to millions of Americans in pricey markets like San Diego County, Duncan said.

Of all outstanding U.S. home loans, about 14% are subprime, he said. Of those, about 19% are delinquent or in the process of being foreclosed on. Duncan expects less than one-third of those will actually be lost to foreclosure.

Among causes of the nation's housing slump, subprime lending "was a contributing factor, but it was not the driving issue," Duncan said.

Consumer advocates and credit counselors hold that many borrowers don't understand the risks associated with subprime loans. Designed for people with low credit scores, they are more profitable for lenders and mortgage brokers than prime loans.

Subprime loans allow borrowers to qualify for credit on low, introductory "teaser" interest rates that adjust upward after several years. They carry higher fees because of the greater risk of default.

When teaser rates end in expensive markets like the San Diego region, monthly mortgage payments can increase by hundreds of dollars, said Paul Leonard, director of the California office of the Center for Responsible Lending.

To avoid defaults, consumers should be educated about the importance of shopping around for the best mortgages, said Melinda Opperman, vice president for community outreach for Springboard, a nonprofit consumer credit management organization.

"I do feel that the worst is yet to come," as more subprime loans move into default, Opperman said.

Some analysts blame Wall Street for the subprime crisis. Because of rising defaults, investors have lost their appetite for securities backed by subprime mortgages, said economist Edward Leamer, director of the UCLA Anderson Forecast. That means the subprime market "isn't going to come back anytime soon," Leamer said.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Home sales projected to fluctuate narrowly with a gradual upturn

Cathy Miller (Keefe Real Estate) — Fri, 15 Jun 2007 12:02:44 -0500

Home Sales Projected to Fluctuate Narrowly With a Gradual Upturn

RISMEDIA, June 7, 2007-Home sales are projected to move in a relatively narrow range with a gradual upturn becoming more pronounced by the end of the year, according to the latest forecast by the National Association of Realtors®.

Lawrence Yun, NAR senior economist, said the market is relatively soft.

"Overall housing levels are historically strong, but sales remain sluggish compared to the recent boom," he said. "Home sales will probably fluctuate in a narrow range in the short run, but gradually trend upward with improving activity by the end of the year. It's important to keep in mind that all real estate is local, and many markets are expected to have higher sales and strengthening prices during the second half of this year."

Existing-home sales are projected to total 6.18 million in 2007 and 6.41 million next year, in contrast with 6.48 million in 2006. New-home sales are forecast at 860,000 this year and 901,000 in 2008, down from 1.05 million last year. Housing starts are likely to total 1.43 million units in 2007 and 1.49 million next year, below the 1.80 million recorded in 2006.

The national median existing-home price should ease by 1.3% to $219,100 in 2007 before rising 1.7% next year. The median new-home price will probably fall 2.3% to $240,800 this year, and then grow by 2.6% in 2008.

"We continue to experience a temporary distortion in comparing median existing-home prices," Yun said. "Because the sales volume has shifted from many high-cost areas to moderately priced markets, we're not getting a true apples-to-apples comparison. When you look at other measures, such as this week's price index from Freddie Mac which is based on repeat sales, overall home prices are rising slowly."

"Buyers today need to have a traditional view that housing as a long-term investment is an added benefit to their shelter expense. If so, that investment generally will build a nice nest egg over time, especially if they use a traditional mortgage instrument that reduces debt," Yun said.

The 30-year fixed-rate mortgage is likely to increase to 6.6% in the third quarter and then hover at that level through 2008.

"Because of reductions in home sales and new home construction, the economy will expand at a subpar pace in 2007," Yun said. "As housing market conditions improve going into 2008, the economy will reach back to its growth potential next year."

Growth in the U.S. gross domestic product is estimated at 2.0% this year, lower than the 3.3% growth in 2006. Yun forecasts GDP to grow 3.0% in 2008.

The unemployment rate is projected to average 4.6% in 2007, unchanged from last year. Inflation, as measured by the Consumer Price Index, is expected to decline to 2.5% this year, down from 3.2% in 2006. Inflation-adjusted disposable personal income is likely rise 2.8% this year, compared with a 2.6 percent increase in 2006.

Existing-home sales for May will be released June 25; the Pending Home Sales Index is scheduled for July 3 and the next forecast will be July 11.

For more information, visit http://www.realtor.org/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Dad Nees His Own Space

Cathy Miller (Keefe Real Estate) — Fri, 15 Jun 2007 12:00:55 -0500

Survey Shows Father's Day Wishes...His Own 'Space'

RISMEDIA, June 15, 2007-While 87% of the final decisions about purchasing a home are made by women, a new study released by Homes & Land shows most men are claiming - or wanting - their own "space" in their house.

The survey revealed that Dad also has very specific ideas on how to decorate his corner of the castle even though 65% of the time, women are the sole decision makers for decorating. The survey was conducted by the Homes & Land Relocation Service Center among those fathers around the country requesting complimentary real estate magazines. This Father's Day, Homes & Land wishes the happiest of occasions and offers some insight that perhaps the best gift is right at home.

Twenty-eight percent of fathers desired a room dedicated for their own purposes. Of this group, the most popular room requests were, in order:

- an Office/Study
- a media room (or just a place for all of his TV & music equipment)
- a garage/workshop
- an exercise room

The study also showed that 72% of dad's claimed their own space within the home. The use of these rooms were: office/library, garage/workshop, game room and lastly, media room. Of this group, the men still dreamt of their own decorating style.

If they had their way they would decorate the room with:

- Personal memorabilia (including college memories)
- Sports/Golf
- Vintage items (cars, tools, photos)
- Animal or nature motif.

For more information, visit http://www.homesandland.com/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Safe Summer for Your Pets, Water Safety

Cathy Miller (Keefe Real Estate) — Thu, 14 Jun 2007 15:41:53 -0500

Make It a Safe Summer for Your Pets, Water Safety Awareness a Top Priority

RISMEDIA, June 6, 2007-As summer arrives, pet owners will be traveling to beaches, lakes and rivers and preparing their pools for the coming heat. While fun is anticipated, pet owners should be cautious about their animals' safety around these open-water areas.

Dangers around water areas come in many forms, and pet owners need to take a few simple measures to avoid a tragedy. Animals need to be taught how to enter, swim in and exit open waters.

Owners should never throw their pets into the water, as some animals have a hard time swimming or don't know how to swim at all. Owners should get in the water first and call to their pets. If the animal likes the water, it will come in and start to swim toward the owner. Let the animal move at its own pace.

"Americans love the water; we have many beaches, lakes and pools to enjoy this summer. Just remember to take care of your pet's safety when having fun," says Ron Faoro, DVM, president of the California Veterinary Medical Association. "Taking a few extra precautions can make all the difference."

Exiting water areas can be dangerous for a pet. Climbing up ladders can be difficult for animals because they often don't know how to use them to exit a water area. Dogs have a hard time exiting swimming pools because their paws cannot grip ladder rungs. The same caution should be considered when taking your pet out on a boat. Owners can teach their pets to use a ladder by showing them, either physically or by example, how to climb up
and out of the water.

Consider purchasing animal exit devices for your pool and putting a life jacket on your pet when you take it to a lake, river or the ocean. Rivers and oceans present the additional danger of strong currents, which can sweep an animal away.

"Flotation devices are a great alternative for pets new to the water or that are getting old. Pets may not be strong enough to swim on their own, so a little help would allow them to escape the heat without being in danger," Faoro added. "Of course pets, like children, should never be left alone in the water-even if they are wearing floatation devices."

Pools may pose chemical dangers to animals. You should rinse all animals exposed to chlorine with fresh water after swimming in pools. Be sure your dog knows how to get out of your pool-teach him or her where the steps are, starting when he or she is a puppy.

Ocean water also poses a danger to your pet while you're at the beach. Drinking the salt water can be dangerous to your pet's health. Bring fresh water to the beach for your animal to drink when it's thirsty.

"Pets can play safely around open water if pet owners act responsibly," Dr. Faoro says. "Pets and their owners can both have fun if the owners follow these few precautions."

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

10 Ways to Keep Your Cool This Summer

Cathy Miller (Keefe Real Estate) — Wed, 13 Jun 2007 17:41:19 -0500

10 Ways To Keep Your Cool This Summer

RISMEDIA, June 11, 2007-Summer's warm temperatures typically bring an increased demand for electricity, as people turn on fans and air conditioners to help keep cool. Coupled with rising costs for energy supply, this could mean higher electric bills for those who don't plan ahead.

PSE&G is offering customers tips on some simple things they can do to stay cool, save energy and keep their electric bills under control.

- Turn off everything you're not using; lights, TVs, computers, etc. Use dimmers, timers and motion detectors on indoor and outdoor lighting.
- Set a programmable thermostat to your daily and weekend schedule. Raising your thermostat from 73 to 78 degrees can save you as much as 15% in cooling costs during the summer.
- Close blinds, shades and draperies facing the sun to keep the sun's heat out and help fans and air conditioners cool more efficiently.
- Check the weather-stripping and caulking around doors and windows. Eliminate air leaks between window air conditioners and windows with foam insulation or weather-stripping.
- Close doors leading to uncooled parts of your home. With central air, close off vents to unused rooms.
- Use fans to draw cooler air inside during the night and circulate air during the day. Ceiling fan blades should be rotating clockwise during the summer months. Even if you have air conditioning, ceiling and other fans provide additional cooling and better circulation so you can raise the thermostat and contain air conditioning costs.
- Delay heat-producing tasks such as washing and drying laundry or dishes until later in the day, and wait until load is full.
- Refrain from using nonessential appliances. Unplug or use only when necessary an extra refrigerator in your garage. A refrigerator in an uncooled space such as a garage uses more energy on hot summer days than it does during the winter.
- Replace your four most used 100-watt incandescent bulbs with four comparable 23-watt compact fluorescent bulbs. ENERGY STAR(R)-labeled compact fluorescents work well almost anywhere incandescent bulbs are in use, and can save you a significant amount of money over their lifetime.
- Plant shade trees close to the house on the south and west sides.

For more information, visit http://www.pseg.com/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Packing a Beach Bag? don't Forget the Perks of Iced Tea

Cathy Miller (Keefe Real Estate) — Wed, 13 Jun 2007 17:38:16 -0500

Packing a Beach Bag? Don't Forget the Perks of Iced Tea

RISMEDIA, June 8, 2007-As you head off to the beach this summer, don't forget to pack the summer essentials - towel, a good book, sunscreen and iced tea. Yes, iced tea. Because it's great-tasting and calorie-free, iced tea is a smart beverage choice to help keep our bodies hydrated during the hot summer months. What's more, research suggests that tea may play an important role in helping to maintain a healthy weight and support the body's ability to fight two of the most common forms of skin cancer. This summer, choose your beverage wisely by choosing tea.

"June's National Iced Tea Month and the start of the summer season is a great time to think about all that tea has to offer," says Joe Simrany, president of the Tea Council of the U.S.A. "Iced tea - green, black, white or oolong - is a tasty, refreshing and healthy way to keep cool and hydrated during the summer months. With a multitude of research suggesting that the substances in tea help the body maintain healthy cells and tissues, contribute to heart health and keep your weight down, why would anyone choose to drink anything else?"

Tea Drinkers and Reduced Risk of Skin Cancer

In addition to using sun block, studies suggest that tea may also help your body fight skin cancer. According to a University of Arizona study, participants who drank iced black tea and citrus peel had a 42% reduced risk of skin cancer and hot black tea consumption was associated with a significantly lower risk of squamous cell carcinoma. A recent study, published in the May 2007 Journal of the American Academy of Dermatology, found that tea drinkers had a decreased risk of developing squamous cell or basal cell carcinoma, the two most common types of skin cancer. The study showed positive results among those who drank two cups of tea per day and the effect was even more pronounced among those who had been long-term tea drinkers.

Tea Boosts Metabolism, May Aid in Weight Maintenance

Most of us work hard to get in shape before the summer bathing suit season. A number of studies suggest that tea, particularly green tea, may help keep those pounds off all summer long. Specifically, research suggests that the combination of tea catechins and caffeine provided from three to four cups of tea daily can help boost metabolism, maintain insulin sensitivity, and reduce body fat by boosting fat oxidation. These findings
suggest that drinking tea could have a role in helping to maintain an overall healthy weight.

You Are What You Drink

In 2006, a team of nutrition experts created Healthy Beverage Guidelines to advise Americans on how to make wiser beverage choices. Published in the American Journal of Clinical Nutrition, the Guidelines group beverages into six categories along with recommendations as to the range of how much people should drink each day from each of the three categories. After water, the Guidelines recommend tea as the next most consumed beverage. In fact, the Beverage Panel suggests that people drink up to eight servings of iced or hot unsweetened tea per day. The Guidelines specify that in order to combat obesity, Americans must take the majority of their daily fluids in the form of water and non-caloric tea or coffee, with fewer beverage servings coming from non-fat or low-fat dairy drinks and 100% fruit juices. The Guidelines further advise that soda and other beverages that do not contribute nutritional value to the diet should be limited to no more than one serving per day. These recommendations are in keeping with research conducted by scientists at the Jean Mayer USDA Human Nutrition Research Center on Aging (HNRCA) at Tufts University, which found that the leading source of calories in the average American diet may be soda and sweet drinks.

In Summer's Heat, Hydrate the Healthy Way

Tea is the most widely consumed beverage in the world next to water and can be found in almost 80% of all U.S. households. On any given day, over 127 million Americans are drinking tea - mostly over ice. Given its great taste and host of health benefits, it's no wonder why. This summer as you think of ways to beat the heat, drink to your health with an icy, cold glass of iced tea!

For more information, visit http://www.teausa.org/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Persistence Will Get You Through the Tough Spots

Cathy Miller (Keefe Real Estate) — Wed, 13 Jun 2007 17:35:07 -0500

Persistence Will Get You Through the Tough Spots

By Cliff Baird

RISMEDIA, June 12, 2007-"You will never do anything well until you do it many times poorly."

The story is told about a lady who had an atrium at the side of her home. One day she noticed a cocoon had grown on one of the branches of the small trees. When she examined it, she realized that it was the cocoon of the beautiful Emperor moth. The moth would have a 5-inch wingspan and be a magnificent magenta color. She could hardly wait for the metamorphosis to be completed.

One day as she was working in the atrium she heard a rattling and saw the cocoon shaking on the branch. Looking closer, she determined that the metamorphosis was complete and saw the moth trying desperately to climb out a tiny hole on the top of the cocoon. Try as it would though, it just couldn't make it.

The lady returned everyday and each day the cocoon shook wildly as the moth tried valiantly but gave in to the limitations of the tiny hole. On the fourth day, as the shaking and rattling continued, she felt sorry for the moth and decided to help it on its quest. So she got a pin and proceeded to make the hole a little bigger, not much, just a little. And to her great joy, the moth began to climb through the hole.

She waited excitedly to see the magnificent Emperor moth in all its glory. However, as soon as the moth exited the cocoon, it tumbled and fell to the ground, wings unopened and soon died. The lady learned a great lesson about life. The moth, she would discover, was so wonderfully made that it was created to go through that original, tiny little hole on or about the seventh day after metamorphosis.

It was designed to persist and twist and squeeze its body through the agonizingly tight spot. As a result, the body would then elongate and the wings would unfurl sufficient to launch the moth on its inaugural flight. The full destiny of the moth was dependent on the tiny hole.

We are just like that moth. We are created to go through the "tiny holes" of life. Some of them have names like "discouragement" and "despair." But persistence, vision and gratefulness are the keys.

In real estate sales, one of those growth spots is called "daily prospecting." The specific prospecting targets will change somewhat during the growth of your career. But make no mistake about it, prospecting will always be a part of your job description and it may eventually become fun.

Be grateful for the "tight spots" because when you get to the other side, you will be comfortable doing the things you never thought possible while fulfilling your dream.

Cliff Baird, MBA, PhD, is a business therapist and real estate sales management coach, helping agents and managers for over 25 years. He recently introduced ReSTAR (Real Estate Sales Temperament and Aptitude Report) a customized, online recruiting program for brokers and managers. He can be reached at cliff@cliffbaird.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Who's at Risk of Foreclosure

Cathy Miller (Keefe Real Estate) — Tue, 12 Jun 2007 09:02:39 -0500

Who's most at risk for foreclosure?

There's a flood of foreclosures coming -- about 1.1 million of them, a new study estimates. Here are the borrowers who are most likely to lose their homes.

By Holden Lewis, Bankrate.com

You have a 1-in-3 chance of losing your house to foreclosure if you got an adjustable-rate mortgage, or ARM, in 2004 through 2006 that had an initial teaser rate of less than 4%.

If you got a subprime ARM in that period, you started out with a higher rate, and that puts you at less risk. You have a 1-in-8 chance of losing your home.

That's the takeaway message from a densely detailed report by Christopher Cagan, director of research and analytics for First American CoreLogic. Cagan's study focuses on 8.4 million ARMs that were originated in 2004, 2005 and 2006. About 1.1 million of those borrowers will lose their homes in the next six to seven years because of payment shock brought on by rate resets or loan recasting, Cagan estimates.

Cagan assumes that property values will remain relatively flat from their December 2006 levels. If house prices fall -- and in many markets, they already have fallen since the start of the year -- foreclosures will be higher than his estimates. If house prices rise, there will be fewer foreclosures than forecast. Each 1% rise or drop in house prices will translate into a decrease or increase of roughly 70,000 in foreclosures.

More on MSN

"These losses are (from) reset only," Cagan says. "I do not study job loss, death, divorce, illness or fraud." For example, the foreclosure rate is high right now in Detroit, but that has little to do with low-rate teaser loans or subprime ARMs. Job losses are driving foreclosures in the Motor City.

Pain will linger

It's important to remember that Cagan's estimate of 1.1 million foreclosures is forecast to occur over the next six or seven years, not all at once. He says much of the pain will be felt next year and the year after.

The "pinch year" is 2008, he says. "That is the pileup of 2/28s originated in 2006 at the peak of the market. And also, you have the 3/27s starting in 2005. Those two years are the peak market years, also very generous lending years, so you had the peak of the market, with people borrowing with nothing down or 5% down."

When Cagan talks about the peak of the market, he's talking about house prices. In much of the country, especially along the coasts, prices peaked in 2006. If you borrowed 100% or 95% of the home's value in 2006, you immediately were underwater, owing more than you would get if you immediately sold your house and paid a real-estate commission.

Subprime ARMs: 2/28, 3/27

Most subprime ARMs are 2/28 mortgages, which start out with an introductory rate that lasts two years and then are adjusted every six or 12 months thereafter for the next 28 years. Subprime 3/27 mortgages have an introductory rate that lasts three years then are adjusted for each of the next 27 years.

A lot of borrowers get 2/28 and 3/27 subprime ARMs with the intention of refinancing in two, three or four years, after they have cleaned up their credit problems. This would help them get a better rate. Those who made small down payments, though, will find it difficult to impossible to refinance if their homes have lost value.

Cagan assumes that people will lose their homes if they made small or no down payments and they get caught in the payment-value vise: when their monthly house payments rise to unaffordable levels and the value of the home has dropped or even remained unchanged. Because subprime borrowers start out with relatively higher introductory rates, they won't suffer the worst payment shock.

The biggest payment shocks will be felt by borrowers who got those low-rate introductory loans of less than 4% (and, Cagan finds, if you got a teaser rate below 4%, it probably was under 2.5% -- there weren't many between 2.5% and 4%). Their monthly payments can double quickly. About 32% of those borrowers will find themselves in the payment-value vise and will lose their homes, Cagan estimates.

This is the second year in which Cagan has estimated how many foreclosures would result from rate reset. A year ago, he forecast that almost $200 billion in foreclosures would result over the next six or seven years. He noted that this would be a problem for borrowers but not for the economy as a whole.

Prep[aring for Homeownership

Cathy Miller (Keefe Real Estate) — Fri, 01 Jun 2007 16:03:11 -0500

Preparing for Homeownership

Buyer's Guide

Before you begin your home search at REALTOR.com, prepare yourself by reading Ten Steps to Homeownership.

Homebuying Guides

Even before you begin looking for a home, the homebuying process requires diligent preparation. Buyers who have been preapproved for a home loan often have their offers taken more seriously by sellers. With advance preparation, you can tackle the process of acquiring the financing you need with more confidence. To help you on the path to homeownership, the Fannie Mae Foundation offers free step-by-step guides that can help you get closer to achieving your dream:

Knowing and Understanding Your Credit
Opening the Door to a Home of Your Own
Choosing the Mortgage that's Right for You
Borrowing Basics: What You Don't Know Can Hurt You

These authoritative homebuying guides (in PDF format) are available in nine languages, including English, Chinese, Haitian-Creole, Korean, Polish, Portuguese, Russian, Spanish and Vietnamese. You can download a guide or order a print version online from HomeBuyingGuide.org, a Web site run by the Fannie Mae Foundation.

The Fannie Mae Foundation is a private, nonprofit organization devoted to affordable housing and the revitalization of communities. The foundation has provided free, step-by-step homebuying information to more than nine million people.

Replacing a window screen

Cathy Miller (Keefe Real Estate) — Fri, 01 Jun 2007 15:04:03 -0500

Replacing A Window Screen

Sagging and torn door or window screens make the entire house look run down. But they are easy to fix with a few simple tools. Investing an hour in replacing torn screens will go a long way to increasing your curb appeal. A second set of hands would be helpful to complete this project, but it can be done by one person if necessary. If you are working alone, it would be handy to have a few small clamps to hold the screening in place during certain parts of the task.

Remove the Old Screen

Pry the old spline out of the channel with a putty knife or flat screwdriver. (see Figure 1)
Remove the screen and clean out the channel.

Install the New Screen

This procedure refers to spline and screen applications only. Follow the link for information on wood-frame screens.

Cut a piece of new screen 2" wider and 2" taller than the opening, and square the screen with two adjacent sides of the opening. The screen should extend an inch past the opening on each side.
Use the convex wheel on the screening tool to push the screen into the channel on one side. (see Figure 2)
Cut a piece of the spline 6" longer than the perimeter of the opening. Use the concave wheel to push the spline into the channel on top of the screen all the way around the opening. Cut off any excess spline. To avoid wrinkles in the screen, be sure to maintain tension on it as you secure the spline into the channel.

Good idea: After you have 6" or so of the spline in the channel, stretch it lightly so it's easier to push into the channel.
Use a utility knife to cut any excess screen from outside the spline.

For more great window articles, go to Walls and Windows.

What You'll Need

Tools:
Putty Knife, Screwdriver, Utility Knife

Increased Threat for Tick-borne Disease

Cathy Miller (Keefe Real Estate) — Fri, 01 Jun 2007 15:01:02 -0500

Summer Months Bring Increased Threat for Tick-borne Disease

RISMEDIA, June 1, 2007-This summer, families that embrace fun in the sun, hikes through the woods and even running through sprinklers will be back at risk from an age old parasite, the tick. Tick season peaks at the height of summer's heat, and the incidence of tick-borne disease follows a similar bell curve that spikes in summer months.

The blacklegged tick transmits Lyme disease, the most common tick-borne disease in the United States. Lyme disease most often occurs in the Northeastern states of Connecticut, Rhode Island, Massachusetts, New York, and New Jersey; in the upper mid-western states of Wisconsin and Minnesota; and in the Western states of California and Oregon. However, last year the CDC showed confirmed cases of Lyme disease in 45 states

Other, less common, tick-borne illnesses include Rocky Mountain Spotted Fever and Southern Tick-Associated Rash Illness (STARI).

According to National Pest Management Association (NPMA) Senior Scientist Greg Baumann, ticks are often associated with deep woods but many thrive in habitats near homes and businesses, especially where tall grass, weeds, and brush might be present.

"Ticks usually do not prefer neatly trimmed lawns but will populate gardens or overgrown areas including woods," says Baumann. "Pest control technicians can treat grass/vegetation near homes or businesses where people may come in contact with ticks to help protect people from illnesses like Lyme disease."

The NPMA offers the following five tips to help protect homeowners from tick encounters this summer:

1. Avoid tick habitats, if possible, such as low-growing brushy vegetation along the edge of the woods or a trail.
2. Wear light-colored clothing, and tuck your pant legs into your socks and your shirt bottoms into your pants, to make ticks more readily visible.
3. Apply repellents with DEET (n, n-diethyl-m-toluamide) to clothing and any exposed skin.
4. Check yourself thoroughly after you have been in known or potential tick-infested areas.
5. Ticks must be attached for more than 24 hours before they can transmit any pathogen, therefore finding and removing all ticks in a timely manner is critical to preventing disease.

For more information, visit http://www.pestworld.org/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

101 Things to do Before Moving

Cathy Miller (Keefe Real Estate) — Fri, 01 Jun 2007 14:58:35 -0500

RISMEDIA, June 1, 2007-Moving to a new home involves a lot more than just finding a place and calling movers to load up a truck. On average, it takes two to three months to research a new school for your kids, arrange for packing, figure out the best way to transport your pets and set up the utilities. To help organize and keep home buyers on track as they move to their new home, Move, Inc. has launched Move's interactive Moving Calendar.

Move's customizable Moving Calendar helps people manage their entire move from start to finish in daily, weekly and monthly views based on their move date. The Moving Calendar can be tailored to the different needs of owners or renters, with customizable "tasks" that can prompt owners about finding the right neighborhood, remind renters that the early bird gets the best apartment, and take into account the special needs of children and pets by giving detailed tips.

Linked to more than 100 practical tips and hints as well as in-depth informational articles, the Moving Calendar is a powerful organizational tool designed to help make the moving process as seamless as possible for all parties involved.

"Moving can be an exciting time with a new home, new neighbors and new everything. But for many, keeping track of all the details can be daunting," said Eric Thorkilsen, president of Move, Inc.'s Move-related services division. "With the new Moving Calendar on Move.com, we provide the support needed to simplify this hectic process and begin to enjoy your new home."

The Moving Calendar features a count-down ticker to the big moving day as well as a running check list that tracks completed and overdue "tasks." As an added benefit, Move has also linked key "tasks" to coupons and discounts to help make the move as efficient and cost effective as possible.

For more information, visit www.move.com/calendar.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Drink Your Juice:

Cathy Miller (Keefe Real Estate) — Thu, 31 May 2007 12:50:12 -0500

Drink Your Juice: Citrus is Top Juice in Nutrition Study, Hopeful for New Campaign

RISMEDIA, May 30, 2007-(MCT)-Orange juice and grapefruit juice pack more nutritional punch per calorie than other commonly consumed fruit juices, according to a new study co-funded by the University of Florida and the state Department of Citrus.

The nutrient-density study, in the May issue of the Journal of Food Science, gives the Florida citrus industry another marketing tool in the agency's effort to reverse a slide in consumption of citrus juices.

Orange juice and pink-grapefruit juice topped other 100% juices such as apple, grape, pineapple and prune in most categories for vitamin C, potassium and folate, and matched or exceeded levels of vitamin A, thiamin and phosphorus, the study found.

UF researcher and lead author Gail Rampersaud of the Institute of Food and Agricultural Sciences used six different methodologies to rank commonly consumed fruit juices. Cranberry juice was not included in the study because it is typically sold as a blend with other juices or at less than full strength, and tomato juice was not included because it is marketed as a vegetable juice.

Andrew Meadows, a spokesman for the Citrus Department in Lakeland, said that the study's results will be used in upcoming marketing promotions, though the details have not been set. "We're going to leverage it as much as possible," Meadows said. "It gives us some credible ammunition."

The nutrient-density rankings differed slightly based on methods used, but pink-grapefruit juice, such as from the Ruby Red variety, came in first in most scoring methods, followed by orange juice, white grapefruit, pineapple, prune, grape and apple.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Subprime Solution:

Cathy Miller (Keefe Real Estate) — Tue, 29 May 2007 12:17:04 -0500

Subprime solution: Swap ARMs for fixed-rates

Panel members at a Congressional hearing on the subprime crisis recommend changing the terms of ARM loans to forestall foreclosures.

By Les Christie, CNNMoney.com staff writer April 18 2007: 12:47 PM EDT

NEW YORK (CNNMoney.com) -- A series of speakers at a Congressional hearing of the House Financial Services Committee on Tuesday called for restructuring adjustable rate mortgage (ARM) loans to help solve the subprime mortgage crisis.

With as many as 2.4 million American homeowners facing potential default on their subprime mortgages during the next couple of years, there's much interest in Washington providing relief.

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Nearly all the parties speaking before the committee agreed that one of the best ways to work out the problems is to move borrowers out of hybrid adjustable rate mortgages - the so-called exploding ARMs - and into fixed-rate loans.

Subprime mess: No easy fix

Exploding ARMs feature low initial "teaser" rates that reset after two or three years at much higher levels that can run past 10 percent. The payments on fixed rate mortgages stay the same throughout the lengths of the loans.

Panelists at the hearing included spokesmen for Freddie Mac and Fannie Mae, the Federal Deposit Insurance Corporation, Housing and Urban Development, as well as consumer groups, lenders and real estate investors.

Ohio Congresswoman Marcy Kaptur, whose state leads the nation in foreclosure rates, was the first panelist to speak and recommended a three-pronged approach to loan modification.

Establish rescue funds for borrowers facing short-term problems caused by illness, layoffs or other one-time events.
Establish a bond fund to pay for switching borrowers out of unaffordable ARMs. Ohio has already started a bond fund to put subprime ARM borrowers into 30-year fixed-rate loans at 6.75 percent interest.
Refinance loans for victims of predatory lending. This would involve working with Fannie Mae, the quasi-governmental corporation.

Such loan modifications would require the co-operation of lenders who would have to be willing to accept lower returns on their investments.

Many lenders may be willing to go along with these plans in order to avoid the cost of foreclosures, which can be considerable.

Doreen Woo Ho, president of Wells Fargo Bank's Consumer Credit Group, says, "You can pretty much figure an OREO (other real estate owned by the bank, basically, foreclosed properties) will automatically cost 6 percent commission to sell, plus the cost of carrying it on the books for the six months or more it takes to sell and the cost of deferred maintenance. Right away 10 to 15 percent of the value is already eaten by the costs."

Homes from the fastest-growing markets

Even when the property sells, the lender gets much less than what it has invested in it. Foreclosures usually sell for about 28 percent below market value, according to RealtyTrac, a marketer of foreclosure properties.

By some accounts, the expense of a foreclosure comes to, on average, about $60,000 and takes a year and a half to resolve.

For lenders, it's much more profitable to rewrite the terms of the loan if it enables owners to keep paying it off.

And many borrowers have already demonstrated their credit worthiness by making two or three years of payments during the initial, fixed part of the loan. It's only when the loan resets at much higher rates that many of them fail to make payments.

Mortgage News

Cathy Miller (Keefe Real Estate) — Tue, 29 May 2007 12:01:54 -0500

Mortgage News
The Subprime Meltdown: A Hot Summer Issue

The real estate market typically heats up during the summer months. This year, however, with the subprime correction in full swing, the National Association of REALTORS® is predicting a slight pullback in speculative buyers that could lead to a downshift in the entire real estate market.

For a lot of homeowners, this just means home prices are normalizing after an amazing run up over the last few years. However, for many Adjustable Rate Mortgage (ARM) holders and borrowers with potential credit issues, this summer cool off could spell disaster.

It's all over the news: more than half of last year's top 25 mortgage companies have either reported serious losses, been sold off to other companies, or filed for bankruptcy! This has resulted in a tightening of lending standards and underwriting guidelines which has and will continue to impact the real estate market for some time. In fact, bond expert William H. Gross predicts that the fallout from the subprime collapse will likely affect the housing outlook for years to come.

When asked how many borrowers would be impacted by changing guidelines and tightening credit standards, Bill Dallas, mortgage industry icon and former CEO of Ownit Mortgage Solutions, estimated "anywhere from 10% to 40%," adding, "the coming shift in available products will be huge."

This could impact anyone seeking financing, not just throughout the summer season, but throughout the next 12 to 18 months as well.

How has this happened? And how does this affect your mortgage?

Over the last few years, credit standards were loosened considerably as home prices surged to record levels. This meant that many borrowers who normally would not have qualified to purchase or refinance their homes could suddenly and easily obtain greater financing than ever before. In addition, because home values appreciated so quickly throughout this time, even borrowers with serious credit deficiencies could obtain 100% financing without ever having to document their income.

However, as the market changed, homes prices began to contract and interest rates began to rise. This resulted in more and more subprime loans falling into default, and a wave of foreclosures exposed subprime investors to serious risk. Suddenly, the Wall Street bankers who purchased the loans sent them back, and the subprime lenders paid the price.

As a result, credit standards tightened, underwriting guidelines changed, and subprime mortgage products dwindled. Current or potential borrowers who qualify for a purchase or refinance product today may not even be able to do so in the future.

It's important to note that a certain reluctance to offer credit is a normal, and often predictable, response to changes in the real estate market. Like an economic pendulum, the availability of credit swings back and forth over time, as hot markets flame and cool markets wane. This back-and-forth "movement" is the most basic characteristic of the cyclical nature of any market.

At the height of the recent real estate boom, this pendulum clearly favored consumers, offering more credit options than ever before, thanks to lax guidelines and an inordinate increase in the use of subprime products. Today, as the market turns and the pendulum swings back to the more conservative side, it does so with a lot of force!

What should you do now?

If you or someone you know has a subprime loan, especially an ARM or a hybrid ARM about to reset to a higher rate, you need to speak with a mortgage professional right away.

With loan guidelines and credit requirements tightening so heavily, and property values still declining in many neighborhoods, you may not even qualify for a refinance if you wait too long and the pendulum passes you by.

Even if your mortgage has a pre-payment penalty, it may be less expensive to absorb the penalty now and refinance into a more affordable or stable mortgage. Fixed rate programs are approaching eighteen-month lows.

Remember, if you have an ARM, your loan will reset. When it does, can you handle a 50% or 100% increase in your monthly payment? Do you know what your margin is? If not, invest an hour with your mortgage professional and find out all of your options. Don't let foreclosure sneak up on you. Take the necessary steps this summer to protect your biggest investment.

For anyone considering purchasing a new home this summer, schedule a credit review right away. With the right credit score, buyers can take advantage of the increased inventories and lower prices available in many markets. Don't let the summer selling season pass you by.

If you have any questions, call 262-745-2272 for a free consultation. Together, we will make sure that you're taking advantage of every opportunity available to address your changing financial goals and needs!

From Pam Franzen

Charter Funding

Office 262-942-4900

Cell 262-745-2272

Pam.Franzen@charterfunding.com

The Completion of the Dam

Cathy Miller (Keefe Real Estate) — Tue, 29 May 2007 09:31:39 -0500

The Completion of the Dam

RISMEDIA, May 29, 2007-On this day in 1935, one of the greatest American tourist attractions, the Hoover Dam, was completed. Also known as Boulder Dam, the Hoover Dam is a concrete gravity-arch dam in the Black Canyon of the Colorado River, on the border between Arizona and Nevada.

The dam, located 48 km (30 miles) southeast of Las Vegas, is named after Herbert Hoover, who played an instrumental role in its construction, first as Secretary of Commerce and then later as President of the United States.

Construction began in 1931 and was completed in 1935, over two years ahead of schedule. The dam and the power plant are operated by the Bureau of Reclamation of the U.S. Department of the Interior. Listed on the National Register of Historic Places in 1981, Hoover Dam was designated a National Historic Landmark in 1985.

Fun facts about the Hoover Dam include:

- Construction period: April 20, 1931 - March 1, 1936
- Construction cost: $49 million ($676 million adjusted for inflation)
- Deaths attributed to construction: 104
- Dam height: 726.4 ft (221.4 m), second highest dam in the United States.
- Dam length: 1244 ft (379.2 m)
- Dam thickness: 660 ft (200 m) at its base; 45 ft (15 m) thick at its crest.
- Electric Power produced by the water turbines: 2,080 megawatts
- Traffic across the dam: 13,000 to 16,000 people each day, according to the Federal Highway Administration
- With 8 to 10 million visitors each year, including visitors to Hoover Dam but not all traffic across the dam, the Lake Mead National Recreation Area is the fifth busiest U.S. national park.
- The construction of the Hoover Dam project, controversies and Chief Engineer Frank Crowe's role were dramatized in a one-hour TV docu-drama, as part of the BBC's Seven Wonders of the Industrial World series in 2003 and in the book of the same name.
- In the movie Vegas Vacation, the dam is featured in one of the scenes.
- In the movie Superman, Lex Luthor breaches the dam with an earthquake.
- On the NBC special, "The World's Most Dangerous Magic," escape artist Dean Gunnarson performed a straitjacket escape in which he hung from a trapeze by his toes (which were not strapped to the trapeze in any manner) over Hoover Dam, 726 feet in the air.

Source: http://www.wikipedia.org/

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