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Home improvement projects are on the rise, according to the BuildFax Remodeling Index. For the 19th straight month, May's index rose, suggesting that homeowners are remodeling more frequently than in the past.
Do-it-yourself projects are on the rise, too.
If you're among the many homeowners forgoing paid contractors, be sure to follow basic safety precautions because, as this 5-minute video from NBC's The Today Show points out, a home remodeling "accident" could cost you more than the money saved on the project itself.
The interview gives several key tips:
Use "expandable" earplugs to prevent hearing loss from power tools.
Don't wear sneakers or sandals. Wear construction boots.
Never stand on the top 2 steps of a ladder.
In addition, we're reminded to wear safety glasses always. Eye issues are the number one injury as reported by home remodelers, and accidents can happen anytime.
Watch the full video at the NBC website. And, f you feel your next home remodeling project is beyond your personal expertise, seek a professional's help. Call or email me for local recommendations.
Thanks for checking out our videos & blogs - Our time is dedicated your buying & selling needs. Call or click - but contact us today For more current real estate market information just visit our website at http:www.TheRealEstateGeeksTv.com
If you or someone you know is facing foreclosure here's tons of FREE information that will be very useful - http:www.Help4Ca.com until Till Next Time
Take Care, Melissa Bayles (714) 720-2555 & "Chip" Richard Esajian (714) 272-5369 The Real Estate Geeks
Homebuilder confidence is falling -- a good sign for buyers of newly-built homes.
According to the National Association of Homebuilders, the Housing Market Index slipped one point to 16 in April. It's the 5th time in 6 months that the index read 16 -- a figure exactly in line with the 1-year average, but still considered "poor". The Housing Market Index reports on a scale of 1-100.
Values of 50 or better representing "favorable conditions". Values below 50 are considered "unfavorable".
It's been 5 years since the Housing Market Index read north of 50.
As an index, the HMI is actually a composite of three separate surveys, the results of which can be as telling as the final, compiled results. The surveys focus on specific aspects about a homebuilder's business, and use the broader responses to gauge overall market "sentiment".
The 3 questions are:
How are market conditions for the sale of new homes today?
How are market conditions for the sale of new homes in 6 months?
How is prospective buyer foot traffic?
In April, interestingly, home builders felt market conditions were worse across the board, but still cited higher buyer foot traffic. This may be the result of a combination of rising mortgage rates and falling home values. Both tend to be bad for builders, and both tend to spur home buyers into action.
As a home buyer this spring, therefore, use the HMI data to your advantage. When home builders feel less confident on housing, buyers can often exact better concessions and/or upgrades during the negotiation process.
And, so long as mortgage rates continue to rise, that pressure on builders should build.
Thanks for checking out our videos & blogs - Our time is dedicated your buying & selling needs. Call or click - but contact us today For more current real estate market information just visit our website at http:www.TheRealEstateGeeksTv.com
If you or someone you know is facing foreclosure here's tons of FREE information that will be very useful - http:www.Help4Ca.com until Till Next Time
Take Care, Melissa Bayles (714) 720-2555 & "Chip" Richard Esajian (714) 272-5369 The Real Estate Geeks
There's a long-standing myth that freezer-section produce is "worse for you" than fresh produce from a farm. The truth, however, is often the opposite.
Because of upgrades in packaging and delivery methods, frozen produce is often more fresh than "fresh produce", and contains higher nutrient levels, too.
The key is to know how to shop for it.
The main advantage that frozen produce carries over fresh produce is that frozen produce is picked in its most ripe -- and most nutrient-rich -- state. Then, when the produce is flash-frozen, its nutrients become locked-in and sealed.
Fresh produce, by contrast, tends to be picked before it's ripe, and is left to ripen in transit.
Because food nutrients degrade with exposure to heat and/or light, the longer it takes produce to get from the farm to the supermarket, the fewer nutrients the produce will have.
Did you know? Fresh fruit and vegetables might sit for up 2 weeks before they're sold by your local supermarket. And not to mention how long it may take you to consume them.
Another advantage of frozen produce is that it's often less expensive than fresh fruit. For example, looking at the cost of strawberries bought in bulk:
This isn't to say that frozen produce is "better" than fresh produce. It just depends on your circumstance. If you plan to consume the produce within a short period from purchase, and can account for its ripeness and freshness, fresh produce may be preferred. Or, if you eat organic produce, free from pesticides and chemicals -- certain produce may be better eaten fresh.
But know the facts. Frozen produce can be healthier and cheaper -- a good combination for your household.
Thanks for checking out our videos & blogs - Our time is dedicated your buying & selling needs. Call or click - but contact us today For more current real estate market information just visit our website at http:www.TheRealEstateGeeksTv.com
If you or someone you know is facing foreclosure here's tons of FREE information that will be very useful - http:www.Help4Ca.com until Till Next Time
Take Care, Melissa Bayles (714) 720-2555 & "Chip" Richard Esajian (714) 272-5369 The Real Estate Geeks
Consumer spending is alive and well, it seems -- unwelcome news for today's home buyers.
Wednesday, the Census Bureau will release its March Retail Sales figures and the report is expected to show higher sales receipts for the 9th straight month. A strong reading like that should spell higher mortgage rates nationwide.
The connection between Retail Sales and mortgage rates is fairly tight. Retail Sales are "consumer spending" and consumer spending accounts for the majority of the U.S. economy. The U.S. economy, of course, is a dominant force in setting the direction in which mortgage rates are headed.
For example, in 2010, it was a weak economy and murky outlook that helped drive mortgage rates to all-time lows. Since last year, however, the jobs market has started its recovery, monthly receipts have returned to all-time highs, and the Federal Reserve is revising growth estimates for 2011.
Not surprisingly, mortgage rates have reversed, too.
As compared to 6 months ago, conforming rates are higher by 0.750%. Home affordability across California is taking a hit. Plus, the stronger the economy appears to be, the more likely for mortgage rates to climb more.
It's why tomorrow's Retail Sales report is so important.
If you're under contract for a home, or even evaluating the merits of a refinance, there's a lot of risk in "floating" your mortgage rate. The more prudent plan is to find a rate at which you're comfortable with the payment, and lock it in.
And you may want to take that lock sooner than you had planned -- if only to protect your monthly payments. Once tomorrow's Retail Sales report hits, it may be too late. Especially if receipts rise for the 10th straight month.
The Retail Sales report is due for release at 8:30 AM ET.
Thanks for checking out our videos & blogs - Our time is dedicated your buying & selling needs. Call or click - but contact us today For more current real estate market information just visit our website at http:www.TheRealEstateGeeksTv.com
If you or someone you know is facing foreclosure here's tons of FREE information that will be very useful - http:www.Help4Ca.com until Till Next Time
Take Care, Melissa Bayles (714) 720-2555 & "Chip" Richard Esajian (714) 272-5369 The Real Estate Geeks
Most people spend about one-third of their life in the bedroom. So, how healthy is yours?
In this 5-minute piece from NBC's The Today Show, you'll learn about dust mites, mold and the other hidden health risks in your bedroom. Some may be compriming your sleep, and others your well-being.
The interview is comprehensive and covers a lot of ground, including:
The importance of an excellent vacuum with HEPA filters
The advantage of latex pillows over other pillow-types
Why blackout curtains can help reduce blood pressure
The piece also talks on several goods reasons to leave your bedroom electronics-free.
For as much time as we all spend in our respective bedrooms, we should want it to be a healthy, clean place. Following the video's advice is a step in the right direction.
Thanks for checking out our videos & blogs - Our time is dedicated your buying & selling needs. Call or click - but contact us today For more current real estate market information just visit our website at http:www.TheRealEstateGeeksTv.com
If you or someone you know is facing foreclosure here's tons of FREE information that will be very useful - http:www.Help4Ca.com until Till Next Time
Take Care, Melissa Bayles (714) 720-2555 & "Chip" Richard Esajian (714) 272-5369 The Real Estate Geeks
As part of the Census Bureau's data collection activities from 2005-2009, a number of interesting charts have been published at http://census.gov.
The data should not be confused with Census 2010 -- a separate survey conducted every 10 years. This is the first-ever, 5-year American Community Survey. Based on data from 3 million households, it details social, economic, housing, and demographic data "for every community in the nation".
Among the surveys:
Median Household Income, Inflation-Adjusted To 2009 Dollars (Chart)
Median Housing Value Of Owner-Occupied Housing Units (Chart)
Percent Of Households That Are Married, With Children Under 18 (Chart)
Whether you live in a "long commute" town like Richmond, NY (40 minutes), or a "short commute" town like King, TX (3.4 minutes), rising gas prices have made commute times and distances relevant to everyone.
Since the start of 2011, the average price for gasoline is higher by 54 cents per gallon. Assuming 22 miles per gallon on a passenger car, that's an increase of 2.5 cents of gasoline per mile driven in the last 90 days. It's a cost that adds up quickly, and can affect a household budget. Plan for higher pump prices moving forward, too. Historically, gas prices surge between April and June.
The American Community Survey is loaded with charts and data. It can tell you a lot about your current neighborhood, and any neighborhood to which you may want to relocate. Then, to bridge the ACS data with community details such as school performance and typical home prices, talk to a real estate professional.
Thanks for checking out our videos & blogs - Our time is dedicated your buying & selling needs. Call or click - but contact us today For more current real estate market information just visit our website at http:www.TheRealEstateGeeksTv.com
If you or someone you know is facing foreclosure here's tons of FREE information that will be very useful - http:www.Help4Ca.com until Till Next Time
Take Care, Melissa Bayles (714) 720-2555 & "Chip" Richard Esajian (714) 272-5369 The Real Estate Geeks
<!-- This material is non-exclusively licensed to Melissa Bayles and may not be copied, reproduced, or sold in any form whatsoever.-->
On a seasonally-adjusted basis, the Pending Home Sales Index rose 2 percent last month, according to the National Association of REALTORS®. A "pending home sale" is defined as a home under contract to sell, but not yet closed.
February's Pending Home Sales Index rebound breaks a 2-month losing streak, and reverses the recent downward momentum in housing. Both Existing Home Sales and New Home Sales volume showed a sizable loss last month.
For buyers and sellers of real estate , the Pending Home Sales Index is of particular import. It's one of the few forward-looking indicators in housing, and February's data suggests a stronger spring season than was the winter.
3 of 4 regions showed marked improvement, which is good for housing. In the fourth -- New England -- it's likely that inclement weather hampered results.
February was colder-than-normal and the month capped a record-breaking snowfall season for the region. Anecdotally, fewer homes are sold in the cold-and-snow of winter and it's likely that the weather affected local housing markets.
Looking to March and April, therefore, we should expect Existing Home Sales data to rebound. This is because 80% of "pending" homes close within 60 days, and because improving weather should release pent-up demand for housing.
More sales plus higher home demand tends to lead home prices higher. If you're in the market for a new home, consider that your best negotiation leverage comes in a weak market. As the seasons turn, your leverage looks poised to slip.
The best time to buy this year may be right now.
Thanks for checking out our videos & blogs - Our time is dedicated your buying & selling needs. Call or click - but contact us today For more current real estate market information just visit our website at http:www.TheRealEstateGeeksTv.com
If you or someone you know is facing foreclosure here's tons of FREE information that will be very useful - http:www.Help4Ca.com until Till Next Time
Take Care, Melissa Bayles (714) 720-2555 & "Chip" Richard Esajian (714) 272-5369 The Real Estate Geeks
According to the EPA, the average U.S. household spends close to $500 each year on water and sewage bills. But by making just a few small changes, that figure could drop by as much as $170 annually. It's all in how you use your water.
Don't rinse food from dishes before putting them in a dishwasher. Scrape the dishes instead.
When brushing your teeth or shaving, turn off the water at the sink.
Use a rain barrel to capture rain, then use the rain to water plants and shrubs.
There's a host of tips in the video but the recurring theme is that you should never "leave water running". This is because water at home is "treated" water and the amount of energy required to treat 5 minutes' worth of water from a faucet is equivalent to the amount of energy required to run a 60-watt light bulb for 14 hours.
That's a lot of energy.
Water is a precious resource, and it can be expensive, too. Therefore, help the environment and your budget at the same time -- practice water conservation at home.
Thanks for checking out our videos & blogs - Our time is dedicated your buying & selling needs. Call or click - but contact us today For more current real estate market information just visit our website at http:www.TheRealEstateGeeksTv.com
If you or someone you know is facing foreclosure here's tons of FREE information that will be very useful - http:www.Help4Ca.com until Till Next Time
Take Care, Melissa Bayles (714) 720-2555 & "Chip" Richard Esajian (714) 272-5369 The Real Estate Geeks
Single-family housing starts plunged unexpectedly last month. Nationwide, starts fell 12 percent from the month prior; and 29 percent from February of last year.
February's figures represents the worst 1-month drop in housing starts since May 2010 -- the month that followed the expiration of last year's federal home buyer tax credit -- and puts single-family housing starts at a 24-month low.
In addition, single-family Building Permits plunged last month, too, shedding 9 percent from January. A building permit is a local government's certification and approval to begin home construction.
Housing permits are an excellent forward-indicator for the housing market. This is because 93 percent of homes start construction within 60 days of permit-issuance. Fewer permits, therefore, directly reduces the number of new homes coming to market in the coming months.
For home buyers looking at new construction or existing homes, this news should create a sense of urgency.
Home prices are based on supply and demand and overall home supply looks headed for a fall. Plus, with mortgage rates retreating and homebuilders projecting higher sales this summer, buyers may face rising home prices before long.
Sellers look poised to regain negotiation leverage.
For now, though, home affordability remains high with properties inexpensive and mortgage rates still low, historically. If you plan to buy a home in 2011, the February 2011 Housing Starts data may be reason to move up your time frame.
With home supplies dropping, prices are likely to rise.
Thanks for checking out our videos & blogs - Our time is dedicated your buying & selling needs. Call or click - but contact us today For more current real estate market information just visit our website at http:www.TheRealEstateGeeksTv.com
If you or someone you know is facing foreclosure here's tons of FREE information that will be very useful - http:www.Help4Ca.com until Till Next Time
Take Care, Melissa Bayles (714) 720-2555 & "Chip" Richard Esajian (714) 272-5369 The Real Estate Geeks
Homebuilders are optimistic about the housing market this spring, relative to recent months.
According to the monthly Housing Market Index as published by the National Association of Homebuilders, after 4 straight months of reading 16, March homebuilder confidence ticked 1 point higher to 17.
It's the highest confidence reading in 10 months.
A value of 50 or better indicates "favorable conditions" for home builders; with more builders viewing sales conditions as "good" than "poor".
HMI hasn't read higher than 50 since April 2006.
Regionally, the Housing Market Index showed mixed results. Confidence fell 1 point in the Northeast, held firm in the Midwest, and rose in the Southeast and West regions by 2 points and 4 points, respectively.
As an index, the monthly survey is actually a composite of three separate homebuilder surveys -- a report on single-family sales; a report on current buyer foot traffic; and a projection for single family sales in the next 6 months.
March's HMI breakdown shows that builders expect sales to be brisk over the next few months. Projected Single-Family Sales is running at its highest level since May 2010 -- right as the $8,000 federal homebuyer tax credit was ending.
Single-Family Sales : 17 (Unchanged from February)
Buyer Foot Traffic : 12 (Unchanged from January)
Projected Single-Family Sales : 27 (+2 from February)
For home buyers , the March Housing Market Index may signal the end of "builder discounts" and free upgrades. As home sales increase, builders are often less likely to make concessions.
In conjuction with rising mortgage rates and new, mandatory loan costs, buying a newly-built home may never be as inexpensive as it is right now.
If you expect to buy a newly-built home this year, consider moving up your time frame. The longer you wait, the more it may cost you.
Thanks for checking out our videos & blogs - Our time is dedicated your buying & selling needs. Call or click - but contact us today For more current real estate market information just visit our website at http:www.TheRealEstateGeeksTv.com
If you or someone you know is facing foreclosure here's tons of FREE information that will be very useful - http:www.Help4Ca.com until Till Next Time
Take Care, Melissa Bayles (714) 720-2555 & "Chip" Richard Esajian (714) 272-5369 The Real Estate Geeks
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
There's a long-standing myth that freezer-section produce is "worse for you" than fresh produce from a farm. The truth, however, is often the opposite.
Single-family housing starts plunged unexpectedly last month. Nationwide, starts fell 12 percent from the month prior; and 29 percent from February of last year.
Homebuilders are optimistic about the housing market this spring, relative to recent months.
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