Builder Confidence Hits Major Milestone in June

Builder confidence in the market for newly-built single-family homes hit a significant milestone in June, surging eight points to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Any reading over 50 indicates that more builders view sales conditions as good than poor.

“This is the first time the HMI has been above 50 since April 2006, and surpassing this important benchmark reflects the fact that builders are seeing better market conditions as demand for new homes increases,” says NAHB Chairman Rick Judson, a home builder and developer from Charlotte, N.C. “With the low inventory of existing homes, an increasing number of buyers are gravitating toward new homes.”

The eight-point jump in the index was the biggest one-month gain since August and September of 2002, when the HMI recorded a similar increase of eight points.

“Builders are experiencing some relief in the headwinds that are holding back a more robust recovery,” said NAHB Chief Economist David Crowe. “Today’s report is consistent with our forecast for a 29 percent increase in total housing starts this year, which would mark the first time since 2007 that starts have topped the 1 million mark.”

Derived from a monthly survey that NAHB has been conducting for 25 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

All three HMI components posted gains in June. The index gauging current sales conditions increased eight points to 56, while the index measuring expectations for future sales rose nine points to 61 – its highest level since March 2006. The index gauging traffic of prospective buyers rose seven points to 40.

The HMI three-month moving average was up in three of the four regions, with the Northeast and Midwest posting a one-point and three-point gain to 37 and 47, respectively. The South registered a four point gain to 46 while the West fell one point to 48.

For more information, visit www.nahb.org/hmi.

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Would Abolishing Fannie and Freddie Stall the Real Estate Recovery?

By Maria Patterson

Insiders Take a Wait-and-See Approach to Proposed Legislation

Earlier this month, a bipartisan bill was put forth that would liquidate Fannie Mae and Freddie Mac and replace them with a government reinsurer of mortgage securities behind private capital. While the legislation is in the very early stages, there is mounting concern over how it might impact the real estate and mortgage industries.

According to the draft of the bill, Washington-based Fannie Mae and McLean, Va.-based Freddie Mac would be liquidated within five years and the U.S. Treasury would assume responsibility for their existing mortgage guarantees.

The bill is a reflection of a growing consensus in Washington that the U.S role in mortgage finance should be limited to assuming risk only in catastrophic circumstances, explains a June 4 report from Bloomberg News. It also reflects the prevailing view among lawmakers that the two government sponsored enterprises should cease to exist.

Exactly what kind of impact the dissolution of Fannie and Freddie would have on the real estate business remains to be seen, says Berkshire Hathaway HomeServices President Stephen Phillips.

“I think it’s clearly a question of how you would go about doing away with them and what you would replace them with,” says Phillips. “What’s being discussed is not simply liquidation, but a replacement with something different, designed to perform the same function on an aggregate economic basis. But it’s a matter of how you get there from here.”

As the real estate market moves steadily forward in its nascent recovery, there is some concern that upheaval in Washington could derail the progress that’s being made.

“Given the fact that the housing recovery - which is extremely important to the recovery of the overall economy - is still relatively new, it’s important that anything that’s done in terms of Fannie and Freddie is done very carefully to avoid a reduction in activity around housing, which would have the potential of harming the overall recovery,” says Phillips.

According to Mortgageorb.com, the draft bill explains that a new reinsurance agency would be named the Federal Mortgage Insurance Corp. “Part of its role would be to continue with the current effort to develop a common securitization platform - as well as to enact new measures to help small lenders issue securities” (mortgageorb.com, June 6, 2013).

According to Reuters, under the proposed legislation, the U.S. Treasury would assume responsibility for Fannie and Freddie's existing mortgage guarantees. The two government-sponsored enterprises have recently begun to report record profits after receiving more than $180 billion in aid from U.S. taxpayers during the peak of the housing demise. If and when Fannie and Freddie are liquidated, proceeds would first go to the U.S. government—the primary shareholder—and then to holders of junior preferred shares, followed by holders of the common shares.

No matter how the proposed legislation pans out, clear and consistent communication will be critical to maintaining the rebound in homeownership confidence, says Phillips.

“This must be done with a lot of transparency and with a lot of good communication from beginning to end,” explains Phillips. “If so, I believe this would be a positive or non-event to real estate consumers. If the markets are surprised at various points in time with what’s being done and how it’s being done, then there would be potential for real damage to the housing market and the overall economy.”

Phillips advises real estate brokers and practitioners to stay aware of the proposed legislation in order to keep potentially wary consumers accurately informed. “Awareness is helpful, but the best thing we can do individually is go about doing our jobs every day.”

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Why Taking Pets to Work Enhances Productivity and Improves Mood

According to the American Institute of Stress, the major source of tension in American adults is job related. Luckily, there may be a silver lining to workplace stress and it has four legs, fur and a wagging tail. A recent study from Virginia Commonwealth University shows that interaction with animals can help lower levels of cortisol, the hormone related to stress. It also notes that people who bring their pets to work saw an 11 percent reduction of stress. Walking pets during work breaks can also increase productivity because it encourages more breaks that help jumpstart employee creativity and interaction. The following are four tips for inviting animals on the job.

Tip #1: Start Slow for First-Timers
Pet parents taking dogs to work for the first time can bet on their four-legged friend becoming distracted. To ensure good behavior, start pets out with short time increments in the office. If possible, start by taking Fido to work for half days while he gets used to the environment. Reward pets for good behavior such as laying at your feet quietly and resisting the urge to jump excitedly on coworkers. For anxious or overly excited dogs, pet parents can soothe Fido with the Thudershirt Dog Anxiety Solution - a breathable, lightweight vest that wraps around pets and provides gentle comfort.

Tip #2: Simple Commands to Ensure a Peaceful Workday
"Place" and "Stay" cues will help pets understand what their pet parents expect from them while at the office and provide a recognizable area for the dog to go when a break is needed. To begin, select a rug with non-slip grip (like a bathroom rug or yoga mat) and place it by your feet. Reward Fido when he stands or lies down on the rug. From there, add the command "place" so he associates this area with the word. Once the pet understands "place," add the command "stay." Soon, pets will begin to understand that the rug, or "place," is somewhere to go to sit and "stay". Don't forget to bring your rug to work! This not only works with a rug, but also with your dog's bed. Plus, bringing it to the office can calm dogs because it smells like home and helps make the new surroundings more familiar.

Tip #3: Expel Excess Energy Before Heading to the Office
It's normal for younger or easily excitable dogs to be very distracted at the office, but teaching pets manners and keeping them entertained can be easy. A half hour before heading in to the office, take him or her for a walk to burn off any excess energy. During work hours, bring a toy that can be filled with treats and provide hours of entertainment.

Tip #4: Arrive at the Office Safely
A key component of taking pets to work is their safety traveling to and from the office each day. Contrary to popular belief, some pets don't enjoy car rides. If this is the case, start pets out by only going a few miles and then gradually work up to the length of the commute. In addition, 61 percent of owners surveyed by the American Pet Products Associations admitted they do not secure or restrain their dog in the car. An unrestrained pet can cause distracted driving, which can harm themselves and the driver in an accident. Use a dog seatbelt or barrier to help keep pets contained and comfortable. Also, keep pets out of the front seat unless they are secured in a booster seat that won't trigger the front airbag in an accident.

Source: Petco

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Nine Ways to Make the Most Out of Garage Sales

Anybody can toss a few items out in the driveway and pronounce a garage sale in progress, but if you want to maximize the effort and profit from proffering your possessions, much like a real estate deal, you’ve got to set the stage. GetRichSlowly.org has some great advice on prepping for that all important day of the sale:

1. Be clear on the purpose of your sale. Are you selling things to make money or to get rid of them? This question affects everything you do, from how you price things, to how willing you may be to negotiate. Surprisingly, you can often make more money (and get rid of more junk) by pricing things low. If your goal is to get top dollar, you should really be selling on eBay or Craigslist.

2. Advertise. Stick an ad in the newspaper. Put up a notice on Craigslist. Post simple, effective signs around the neighborhood. It’s best to use big bold text like “HUGE SALE” with an arrow pointing the right direction. Make sure your sign is readable.

3. Get cash for change. Get a roll of quarters, a stack of 25 $1 bills, and a few $5 bills. Do this two days before the sale, so that if you forget, you can still get the change on the day before.

4. Prepare your staging area. People will be more inclined to stop if you set up shop in your yard or driveway. Some people are reluctant to enter a dark and dreary garage. Make your sale inviting and easy to browse. You can lure customers by placing highly-desirable items near the road.

5. Think like a customer. As soon as you’ve opened and fielded the initial flood of shoppers, walk through your sale as if you were there to buy something. How does it feel? Are things clearly marked? Is it easy to move around? Are your books on the ground in boxes? Or are they placed neatly on shelves or tables?

6. Display items to their advantage. Carry a bookshelf out to the garage. It takes more work, but you’ll sell more books if people can see them clearly.

7. Play background music. It’s a little uncomfortable to visit a garage sale (or to host one) when there’s complete silence in the yard or driveway. But don’t play offensive music either — play something appropriate for your audience.

8. Promote expensive items. Big-ticket items can be tough to sell, but you can do it with a little extra effort. For example, print out a website page from a business still selling the item that shows the original retail price and all the features.

9. Make it easy for shoppers to test electronic items. If you’re selling electrical items, make sure you have an extension cord handy so that people can test them. No smart person is going to just take your word that your television “works great.” Also, have some batteries on hand so a prospective buyer can test hand held electronics.

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Four Simple Steps to Help DIYers Get Pro-level Painting Results

(BPT)—When it comes to simple, low-cost home improvements that can add value and completely change the look of a room, you just can't beat painting. From giving a room a whole new look to protecting the walls and boosting the value of your home, painting delivers many benefits - all at a fraction of the cost of other improvements.
Tackle the job yourself, rather than hiring a professional painter, and you can save even more money.
"Any do-it-yourselfer can achieve professional-looking painting results when they follow the right steps and use the right painting tools," says Arti Lyde, a product director with Wagner, manufacturer of painting products. "Painting can dramatically improve the look and style of your home."
Follow these four guidelines and you can achieve professional-looking results with your own hands:
Prepping is paramount
Professionals know that properly preparing their work space is a key factor in achieving a good end result. Before you crack open that paint can, take these preparatory steps:
* Gather all the tools you will need in one place.
* Protect surfaces such as baseboards, woodwork and windows by taping off with a good quality painter's tape.
* Completely cover carpets with a good quality drop cloth that will resist punctures and rips.
* Some jobs require a primer before putting the final color on the wall. Primer preps the surface and helps the final coat adhere better.
Pick the right paint
The quality of the paint you choose will directly affect how good the job looks when you're done. For a good quality finish it is important to select quality paint, which adheres better, gives a uniform finish and will last longer. Also, look at the latest color trends and select a color that will meet your style.
Before you buy, research the brands available at your local home improvement store. Check out consumer review websites, giving particular attention to those that feature reviews from homeowners who've actually used the products. These independent, real-life reviewers can offer valuable insight into how well a paint might work.
Use the right tools
Many professionals use paint sprayers to achieve smooth, fast results. Now homeowners can achieve professional results. The sprayers allow you to cover an 8-by-10-foot surface in just two to six minutes, and they can be used inside the house or outside on decks, fences, sheds or any other surface you need to paint quickly and easily.
Pay attention to the details
Details such as painting baseboards, woodwork and ceilings are the crowning touch on any paint job. Professionals know it's these finishing touches that pull together the look of a room.
With the right tools and professional approach, you can save money by doing your own painting - and enjoy the pride and satisfaction of a job well done.
Source: Wagner

Reprinted with permission from RISMedia. ©2013. All rights reserved.

It's Cool to Have a Safe Pool - Tips on Barriers, Alarms & Covers

By John Voket

It's June and that means tops are coming off - residential pools. But it's serious business when outdoor pools pose a hazard to your loved ones or others who live close by.
I want to bring pool owners up to speed on the latest advice from the Consumer Product Safety Commission, which has devoted an entire website to the subject - poolsafely.gov.
CPSC’s Pool Safely campaign recommend pool owners employ not one, but multiple safety systems to safeguard children in and around the water.
Since no safety system is foolproof, the Pool Safely campaign suggests that each protective measure be used in conjunction with adult supervision and other types of safety systems, according to the CPSC.
No matter how safe a pool owner may feel, adding additional protective measures contribute to the overall safety of a pool or spa. Added safety systems to consider include:

• An outdoor swimming pool barrier - a physical obstacle that surrounds a pool or spa so that access to the water is limited to adults. Barriers give parents additional time to locate a child before the unexpected becomes a reality.
• Alarms for doors, gates, windows and pools or spas - these safety features designed to alert adults when unsupervised children enter the area of the pool or spa. There are a number of different types of alarms that can be used, which emit an audible sound when triggered by opening, moving, or by motion in the water.
• A pool or spa safety cover - is a manual or motorized barrier that can be placed over the water’s surface, and is easily opened or closed. When a safety cover is properly in place over the pool or spa, it provides a high level of safety for children less than 5 years of age by inhibiting their access to the water.
• The CPSC also advises to maintain a higher level of security, remove ladders and slides when using covers on pools.

For specifics about these pool safety measures, click here.

Reprinted with permission from RISMedia. ©2013. All rights reserved.

DIY Magic to Transform Your Kids' Rooms

(Family Features)—It's no surprise that kids want unique, colorful bedrooms that reflect their personalities and give them a space to call their own. Parents, though, may find that overwhelming and worry about having to sacrifice cleanliness and organization.
The ideas below will help you create fun, innovative rooms and make everyone in the family happy. Plus, they are easy to create.
Go Team!
One of the most enduring bedroom themes for boys and girls revolves around sports. Whether your little athlete plays or just watches soccer, football or basketball, this is an easy look to achieve. Select two shades that match their favorite team's colors. Paint the bottom half of each wall in the darkest color then coat the top half with the other. Create a polished look by dividing the two colors with a wide, horizontal strip of paint. Posters, pennants and memorabilia complete the look.
Fit for Royalty
Give your little prince or princess a dreamy bedroom inspired by Disney's most cherished icons. Select the perfect color from the new line of Disney Paint by the makers Glidden Paint (r). It comes in 112 exclusive colors designed to give kids inspiration at every stage - from infant to tween. Add matching bedding and other accessories to complete the look. For a truly show-stopping finish, put a splash of glitter on the walls. Disney Paint, "All That Glitters," is a new clear topcoat that creates a shimmering glitter finish over any painted surface.
Just Beachy
All it takes is the perfect color of blue paint to transform any bedroom into a tropical oasis. Carry the theme throughout the room with white curtains, bedding and furniture. Then trim the windows by draping lengths of grass skirting along the top and placing several clear jars of sea glass along one ledge. Prop a surfboard or two in the corner or hang them from the ceiling to complete the look.
Space Out
Glow-in-the-dark paint makes it easy to create an out-of-this-world bedroom. After all, every budding young scientist should have lots of encouragement to reach for the stars. Paint the walls a deep space blue. Then create celestial bodies around the room using planetary stencils that you can see even when the lights go out. Disney Paint has five new specialty finishes, including "Ready, Set, Glow!" This translucent, ready-to use yellow paint allows any surface to glow in the dark. Use it also to stencil stars on the ceiling, turn off the lights and let your child dream up a bright future.
Tips to Help Complete the Transformation
* Use a room's fifth wall - the ceiling - to help spice up a room
* Stencil fun shapes, like tiaras, jewels, cars, boats, etc., to help complement your kids' personalities
* Add an extra punch to small spaces, like bathrooms or window seats, with a fun and dynamic finish
* Jazz up one piece of furniture, like a nightstand, chest of drawers or wooden chair, to bring extra personality to a room
Source: www.DisneyPaint.com.

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Speed Bumps Remain for Electric Cars; Incentives Could Recharge Interest

Electric cars are beginning to post all sorts of impressive numbers. Recently, the 100,000th plug-in vehicle was sold. And last year, roughly 440,000 cars deriving some degree of "go" from a battery – including hybrids, plug-in hybrids and cars running on electricity alone – were sold in this country, with approximately 50,000 of them being pure electrics.

Those are big numbers, but it's important to look at them with an equally big dose of perspective. With roughly 14.5 new million cars and trucks sold in the U.S. last year, combined hybrid sales of roughly 390,000 vehicles represent 3 percent of total sales; those 50,000 pure electrics? About 0.3 percent. But with more and more manufacturers producing battery-propelled vehicles of one kind or another, and fuel prices showing no sign of falling, many anticipate continued growth for the sector.

"Consideration has been on the rise over recent years for traditional hybrids, while other electric car segments – though showing points of growth – have been more sporadic in their gains," explains Mike Chadsey, vice president, Solutions Consultant at Harris Interactive.

When asked which of several improved-efficiency vehicle types they would consider the next time they are in the market for a new vehicles, nearly half of American car owners (or anticipated owners) indicated that they would consider a traditional hybrid (48 percent), while nearly four in ten (38 percent) would consider a smaller and/or less powerful gas-powered vehicle. Just over one-fourth (27 percent) would consider a plug-in hybrid, two in ten (19 percent) an electric vehicle and 16 percent would consider a diesel vehicle. Roughly four in ten (41 percent) indicate that they would only get a vehicle with lower operating costs if they could do so without changing their driving habits or expectations.

Current and prospective drivers were also asked how their likelihood to consider several types of vehicles has changed within the past two years.

• Over four in ten (43 percent) indicate being more likely to consider a traditional hybrid (43 percent) – roughly twice the percentage saying they're less likely to do so (21 percent).
• Adding an electrical plug appears to put the brakes on consideration growth, with current or prospective drivers reporting being more (30 percent) and less (30 percent) likely to consider them in equal percentages.
• Taking away the gas tank entirely seems to stall things out further still, with the 23 percent more likely to consider them overpowered by the 38 percent less likely to do so.

Challenges and opportunities for pure electrics

When asked to select their top concerns related to pure electric vehicles, price (65 percent) and range (63 percent) were the top issues, followed by repair/maintenance costs (55 percent), reliability (53 percent), performance/power (48 percent) and the fact that it is still new technology (44 percent).

But the electric vehicles industry still has some juice left; in addition to being in a state of constant advancement, the study indicates that several incentives – including some already being tried out by current manufacturers – show the potential to impact Americans' likelihood to consider such vehicles:

• The majority of Americans (56 percent) would be more likely to consider such a vehicle if it were incentivized with a free fast-charge station installed in their home.
• Nearly half (47 percent) would be more likely to consider one if it cost the same as a similar gas-powered vehicle.
• Over four in ten (42 percent) indicated that having charging stations at or near their workplace would provide such an incentive.
• Smaller, but still notable, percentages indicate that a free gas-powered loaner for a set number of days per year (20 percent), reduced costs on toll roads (17 percent), collision insurance provided with their lease (15 percent) and HOV or "carpool" lane access (14 percent) would make them more likely to consider an electric car.

Source: Harris Interactive

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Tanya Marchiol

From escalator clauses to earnest money, here are some helpful tips for landing your buyers’ dream house from an industry investment expert:
1. Make sure they are preapproved: About three or four months before home buyers even shop for a home, they should review their credit reports to make sure they're accurate and take short-term steps to improve their credit score, says Michael Corbett, author of Before You Buy! Corbett says buyers then should get a bank's preapproval. While that won't guarantee they'll get the loan, it shows sellers that a lender has verified the buyer's income and credit score to determine that she can afford payments on a mortgage for a certain amount.
2. Don't lowball: Buyers may only get one chance to get the home they want in a competitive market. They may not get a second try to sweeten the deal later, so a lowball offer the first time around could cause them to lose out. Buyers should use sales prices of comparable properties in the neighborhood to submit their best offer the first time around.
3. Consider an escalator clause: These purchase contract clauses are becoming more popular again. This is when the buyer agrees to increase their offer if there's a higher bid from another buyer.
4. Add earnest money: The extra deposit can show sellers how serious the buyer is. Some buyers may even double the amount that the seller requests to show their commitment in purchasing the home.
5. Keep contingencies to a minimum: Sellers prefer no contingencies, but buyers want to protect their interests too. "Offset a financing contingency with preapproval and a strong earnest money deposit," Kiplinger's Personal Finance reports. "If you have enough cash, temper an appraisal contingency by assuring sellers that if the appraisal comes in lower than the purchase price, you'll pay the difference or split it with them (up to a certain amount)."
6. Write a letter: Personal love letters about the home addressed to the sellers are winning over some hearts lately. The letters tell the seller about the buyer (e.g. "We're relocating from ...") and what drew the buyer to the home (e.g. "We especially love ...").
7. Give the gift of time: Express your willingness to work with the sellers' timetable to go to closing. If the sellers want to remain in the home for a while after closing, offer them a "lease back" or "rent back," which means that you will be their temporary landlord. This is a legal arrangement, and you'll need to work out the details with your agents and be sure that the sellers keep their homeowners insurance during their stay. If you are bidding on a short sale, make clear to the sellers that you are patient and can wait for the bank's decision.
Tanya Marchiol is the founder and president of TEAM Investments.

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Facebook Still Important

Brian Geick, Social Media Specialist at HSA Home Warranty

Real estate agents continue to rely on social media to reach out to new clients and stay close to the ones they have, but with more and more social media entries coming into the fold, it can be overwhelming at times. There’s Twitter, LinkedIn, Instagram, Google+, Tumblr…the list goes on and on.
It’s important to not let all the new options take you away from your Facebook page, which is still one of the most important ways of connecting to people and highlighting your realty business.
“A Facebook page is a great way to connect with your community, clients and networks of people that could potentially become clients,” says “Outsmarting Social Media” author Evan Bailyn, a search engine optimization, social media, and crisis management expert. “You can create conversations; not only so clients or potential clients have an opportunity to acquire information, but they can also provide feedback.”
Creating a business Facebook page is as easy as going to the site, choosing a name and adding some photos and information about the business. The more you add, the more attractive it will be for those that find you. The beauty of having a Facebook page is that it’s basically free advertising and you can use it to let customers know about new listings, updates to houses and it’s a great way to get referrals.
For those who have a personal website and think that’s enough, Bailyn warns that you’re not getting as much out of the Internet as you can.
“A website can be a lot of time, maintenance, and let’s face it, money. A Facebook page is free, and instantly connects you with clients, your potential clients and your community,” she says. “There are also built-in functionalities with a Facebook page, such as commentary and discussion, and you don’t need to worry about figuring out how to add these special features or insights to your website (or pay for someone to add it for you).”
Unlike those checking you out on your website, people cannot exist on Facebook anonymously. They sign up with their personal information, so when they “like” your page, you’re automatically introduced to them by name, and given a way to communicate.
Facebook does a lot of work for you. It offers built-in expansion: when people interact with your content everyone that they are connected with can see that interaction
Not that you don’t have to do anything. Once your Facebook page is up and running, the key to making it a success is to post new messages and photos and keep it interactive. Ask questions of your clients and fans. Have a team dedicated to producing regular quality content. Post pictures and video. Create conversation. People love to be heard.
There are approximately one billion people across the globe using Facebook so your clients and potential clients are already online, you just need to meet them there and get their eyeballs on your realty business. Visit HSA Home Warranty on Facebook. www.facebook.com/hsahomewarranty
If you’re just getting started on Facebook and you want to learn more about how to use Facebook in your marketing mix, check out our FREE five part series, “Winning Listings and Converting Buyers with Facebook.” https://www.facebook.com/HSAHomeWarranty/app_115462065200508

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Home Sales Rise with Strong Increases - How to Get Your Piece of the Pie

Home sales are on their way up; Existing-home sales improved in May and remain solidly above a year ago, while the median price continued to rise by double-digit rates from a year earlier, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, says the recovery is strengthening and to expect limited housing supplies for the balance of the year in much of the country. “The housing numbers are overwhelmingly positive. However, the number of available homes is unlikely to grow, despite a nice gain in May, unless new home construction ramps up quickly by an additional 50 percent,” he says. “The home price growth is too fast, and only additional supply from new homebuilding can moderate future price growth.”
Total housing inventory at the end of May rose 3.3 percent to 2.22 million existing homes available for sale, which represents a 5.1-month supply at the current sales pace, down from 5.2 months in April. Listed inventory is 10.1 percent below a year ago, when there was a 6.5-month supply.
The national median existing-home price for all housing types was $208,000 in May, up 15.4 percent from May 2012. This marks six straight months of double-digit increases and is the strongest price gain since October 2005, which jumped a record 16.6 percent from a year earlier. The last time there were 15 consecutive months of year-over-year price increases was from March 2005 to May 2006.
Forty-five percent of all homes sold in May were on the market for less than a month. The median time on the market is the shortest since monthly tracking began in May 2011; on an annual basis, a separate NAR survey of home buyers and sellers shows the shortest selling time was 4 weeks in both 2004 and 2005.
First-time buyers accounted for 28 percent of purchases in May, compared with 29 percent in April and 34 percent in May 2012.
All-cash sales were at 33 percent of transactions in May, up from 32 percent in April and 28 percent in May 2012. Individual investors, who account for many cash sales, purchased 18 percent of homes in May; they were 19 percent in April and 17 percent in May 2012.
NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif., says market conditions today are vastly different than during the housing boom. “The boom period was marked by easy credit and overbuilding, but today we have tight mortgage credit and widespread shortages of homes for sale,” he said.
“The issue now is pent-up demand and strong growth in the number of households, with buyer traffic 29 percent above a year ago, coinciding with several years of inadequate housing construction. These conditions are contributing to sustainable price growth,” Thomas said.
With buyer traffic increasing, and prices on the rise, how can you make sure you're getting in the game? Below are a few tips for working with buyers and sellers in this market:
1. Be sure to connect on multiple platforms – have a winning website, social media plan, and lead generation strategy.
2. Be upfront and set their expectations right from the start. Tell buyers they have to act fast, and prep sellers for multiple offer scenarios.
3.Take time to truly understand their needs and wants. This will help find a home—or a buyer for their home—faster.
4.Stay connected. Today's buyers and sellers expect to be able to reach their agent at any time.
5.Think outside the box. Buyers are getting more creative—and more personal—when it comes to appealing to sellers. Writing personal letters to sellers are just one of the ways many buyers are making connections and seeing success.
Sources: www.realtor.com, www.houselogic.com, http://retradio.com.

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Strategies for Managing and Reducing Debt

(BPT) - Are you feeling overwhelmed by your monthly bills? Do you only pay the minimum on your credit cards each month, or use several credit cards to spread out your debt? These are all warning signs that your habits may be keeping you from reaching your financial goals. The good news is, you can take steps to manage your debt and gradually reduce it over time.
Before you take any action, however, you need to know exactly where you stand financially. Look over all your outstanding debt - credit cards, car payments, mortgage or rent, student loans - to help you determine where you are and which obligations have priority. These tips can help you responsibly manage your debt and strengthen your credit situation.
Organizing debt: Not all types of debt affect your finances equally. Collect recent statements from all your creditors. Write down the creditor, amount owed, monthly payment and interest rate on your account. Knowing which debts have the highest minimum monthly payments and interest rates will help you determine which debt is costing you the most.
Prioritizing payments: Examine where you can cut back on expenses, and put that money toward your debts. Try paying off your debts with the highest interest rates as quickly as you can, while continuing to pay at least the minimum due on all of your other debts each month. Once you've paid off the credit card with the highest interest rate, put that money toward the next highest.
Calling creditors: If you can't make a payment or need to make a partial payment, talk to your creditors about setting up a payment plan you can afford. You may be surprised - many creditors will be willing to work with you to find a solution.
Refinancing your mortgage: If interest rates have dropped since you took out your mortgage loan, consider refinancing to lower your monthly payments. If refinancing isn't an option, consider other options to repay your loan more quickly. For example, sending additional principal payments with your regular payments decreases the loan balance and reduces the overall interest owed.
Seeing a credit counselor: These professionals will need to see all your financial material so that they can help you explore your options and make a plan to get you out of debt. To find a reputable credit counselor, visit the website for the nonprofit National Foundation for Credit Counseling, www.nfcc.org.
Consolidating your debt: You might want to consider combining all of your debts into a single loan. This allows you to pay off your debt with one monthly payment, which could be lower than all of your previous monthly payments combined. It will also make it easier to keep track of your debt. Keep in mind that a debt consolidation loan simply transfers the debt to a new lender - you'll still have debt. Additionally, if your consolidation loan has a longer repayment period, it could increase the total amount you repay. You can pay the loan off faster, of course, by making more than a minimum payment each month.
Source: Wells Fargo Smarter Credit Center

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Top 5 Tips for a Better Road Trip

The car is packed and everyone is raring to go. Before you head off on your summertime adventure, make sure you take the following road trip tips in mind.
Check the Car – Are your tires properly inflated? Do your oil and fluid levels need to be topped off? Is the AC working properly? If you need a tune-up you can find a repair shop in your area, or if you're really ambitious, Edmunds.com can help with do-it-yourself car maintenance tips.
Cater to the Kids – Nothing can ruin a family road trip quite like a cranky kid. If your child sleeps well in a car, consider leaving at bedtime or during early morning hours. Bring healthy snacks and water – especially electrolyte water, which hydrates kids quickly and stays in the body longer (meaning fewer potty breaks).
Pack Some Entertainment – No TVs built into the headrests? No problem. Portable DVD players are very affordable, and of course, passengers can always fire up movies or games on a laptop or tablet. Even if you don't pack the technology, there are still plenty of old-fashioned road trip games – like I Spy, 20 Questions and the Picnic Game - that the entire family can enjoy.
Know Where You're Going – Even if your car isn't equipped with a navigation system, there is a wide variety of free navigation apps – such as Google Maps – available for your smartphone. No matter what app you use, choose one that offers real-time traffic information to avoid crippling backups. And it's never a bad idea to have paper maps on hand in case there are issues with your phone or its network connection.
Keep Calm and Carry On – Whether it's the kids screaming behind you, or the jerk who just cut you off on the freeway, you never know when a flash of road rage will hit. The best way to avoid angry outbursts is to make sure you're rested. Get a good night's sleep before your trip, and for especially long road trips, take a break every two to three hours.
Source: Edmunds.com

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Tips to Create Memorable Family Adventures

Tips to Create Memorable Family Adventures

(Family Features)—These warm weather months provide ample opportunities for fun-seeking families to scope out some exciting new adventures. Whether your crew loves a taste of nature or if they're hooked on cultural exploration, it's easy to create a special "daycation."
Optimize family-fun time by making sure you have everything you need before heading out the door, such as sunscreen, umbrellas and bug-spray, to ensure you can fully enjoy your day. When it comes to being nutritionally prepared, registered dietitian and author Patricia Bannan suggests these tips to keep your family properly fueled throughout the day:
Munch in the Morning - If your day of adventure starts early, have easy breakfast options on hand. To keep your metabolism revved and hunger at bay, it's best to eat something small with protein and fiber within two hours of waking up. Greek yogurt with fruit or a slice of whole-grain toast with nut butter are easy breakfast options that provide a kick-start to your morning.
Pack Healthy Snacks - Avoid costly and unhealthy food temptations at concession stands and rest-stops by bringing along nutritious snacks.
Don't Skip Meals - Eating every 3-5 hours will help to keep your blood sugar stabilized and set you up for healthier choices the rest of the day. Curb your appetite between meals by packing pre-portioned snacks, like a mix of nuts and dried fruits.
Bring a Cooler - A hot car can turn any snack into a melted mess, so pack a small cooler bag to keep things chilled. The most important addition to the cooler is water, so pack plenty to stay hydrated.
Now that you're ready for your adventure, choose an activity that your family will enjoy. Here are a few suggestions:
Local or state parks - Chances are you're a short drive from a great public park. Do the research to find out if you can enjoy nature trails by foot or rent bicycles for the day. Many parks also have visitors' centers where kids can take part in crafts while learning about native animals and plants.
Zoo - Get up-close-and-personal with wildlife. Check out a zoo in your town filled with lions, tigers and bears, or a petting zoo at a local farm where children can feed goats, sheep, ponies and more.
Beach, lake or river - Pack the car for a day trip to a local waterway in your neck of the woods. Check and see if you can rent kayaks or paddle boats for a day of outdoor activity.
Museums - Give the kids an adventure into the past, wildlife, outer space or the fine arts with a visit to a regional museum. Many museums offer special rates and programs for children to get involved. You may even find you have a mini Picasso or historian-in-the-making in your family.
Source: www.soyjoy.com

How to Reduce Expenses By Going Green At Home

Going green isn't just for environmentalists anymore ... it's for all homeowners who want to save thousands when building a new home or updating their current residence.
There are a variety of ways to make your home more energy efficient, from simply switching to Compact Fluorescent Light Bulbs (saving about $30 or more in electricity costs over each bulb's lifetime), to installing solar panels (saving up to $2,500 on an average home's annual utility bill).
According to the Appraisal Institute, for every dollar saved on a property's utility bill, a home's appraised value increases about $20.

The following are green suggestions, along with the savings homeowners may incur in the process:
Lower utility bills. Appliances, insulation, windows and heating systems all have the ability to be energy efficient. By upgrading everyday appliances to energy efficient models, such as Energy Star, homeowners can expect a minimum of 10-15 percent savings on their electricity bills right away. What's more, tax credits are available at 30 percent of the cost, up to a $1,500 lifetime limit, for installation of these products in 2010 - for existing homes only: windows and doors, insulation, roofs (metal and asphalt), HVAC, water heaters (non-solar), and biomass stoves. Installation costs may even be included as part of the tax credit calculation for certain HVAC, water heater, and biomass stove installations.
Materials matter. Outside the home, recycled plastic lumber and wood composite materials reduce reliance on chemically treated lumber and durable hardwood for decks, porches, trim and fencing. Inside the home, when it comes to flooring, next to natural wood, greener flooring choices include low-VOC (volatile organic compounds) carpets for better indoor air quality, laminates that successfully mimic scarce hardwood, and linoleum, a natural product making a design comeback.
Control your environment. Install a programmable thermostat to set your heating and cooling equipment to automatically turn on or off to match your schedule and create a comfortable and energy-efficient living environment. These units typically offer savings of 10 to 15 percent and cost anywhere between $40 and $100.
Think outside of the box. Not all greening is done within the walls of the home. Thanks to the Wind, Solar, Geothermal and Fuel Cell Tax Credit (Tax Code Section 25D), tax credits are available at 30 percent of the cost, with no cap through 2016 (for existing homes and new construction) for Geothermal Heat Pumps (use the earth as a source of heat in the winter, or as a coolant in the summer), Solar Panels (use light energy from the sun to generate electricity), Solar Water Heaters, Small Wind Energy Systems, and Fuel Cells. More detailed information on Solar Energy can be found at the American Solar Energy Society website:www.ases.org.
Conserve Water. This includes both inside and outside. Toilets, showers and faucets account for 60 percent of water usage in the home, according to the EPA. Green efficiency experts recommend that homeowners install low-flow showerheads, for example, which will save on water heating and use. Repair water leaks in tubs, showers and sinks. Replacing household appliances like dishwashers with more efficient models can save 11,000 gallons of water per year.
Lastly, when looking to upgrade your home, keep an eye out for the Manufacturer's Certification. This is a signed statement from the manufacturer certifying that the product or component qualifies for the tax credit. The IRS encourages manufacturers to provide these certifications on their website to facilitate identification of qualified products. Tax payers must keep a copy of the certification statement for their records, however, they do not have to submit a copy with their tax return.

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Q: Once I Choose a Contractor, What Items Should Be Covered in the Contract?

A: According to the National Association of the Remodeling Industry, a well-written contract should contain the following information:

• The contractor’s name, address, telephone and license number, if applicable;
• Details about what will and will not be done;
• A detailed list of materials for the project, including model, brand name and color.
• The approximate start date and substantial completion dates.
• A written notice of your right to cancel a contract within three business days of signing, without penalty – provided the contract was solicited at some place other than the contractor’s place of business or appropriate trade premise.
• Financial terms that are spelled out clearly, including payment schedules and any cancellation penalties.
• A one-year minimum warranty identified as either “full” or “limited” to cover materials and workmanship, as well as the name and address of the party who will honor the warranty.
• A binding arbitration clause, in the event a disagreement occurs.

You may also want to include a statement that you will not be responsible if payment to the contractors’ subcontractors and suppliers are not made. You may also want to establish that the contractor should obtain all the necessary permits and that all blank spots in the contract be filled in with phrases like “does not apply.”

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Top Five Mosquito Facts

Just as temperatures are beginning to climb, pest control leader Orkin reports that customer calls about mosquitoes have increased. Last year had the highest number of West Nile Virus disease cases reported since 2003, according to the Centers for Disease Control and Prevention. The CDC also reported 80 percent of the 5,387 total cases were from 13 states. The experts at Orkin have listed five mosquito facts to help protect you and your family.

1. Even though you do not necessarily see standing water around your property, there could still be a variety of places where mosquitoes can breed.
There are probably several unexpected mosquito breeding areas around your property. Besides emptying water out of flower pots, bird baths and old tires, make sure to clean gutters and downspouts regularly or cover with mesh to prevent leaves and debris from collecting and holding water. Children's toys and playground equipment can have small crevices where water can collect. A few other odd places where water can collect include your car, landscape statues, rain gauge, garden hoses and even large plant leaves. If a full plastic garbage bag sits in the rain, it can develop a small pocket where water can collect. Remember, it only takes about a cup of water for mosquitoes to breed. Just because your yard may be free of standing water, it does not mean your neighbor's yard is, too.

2. The typical mosquito season runs from April through October.
Mosquito season can start as early as April, depending on which area of the country you are. Breeding season is usually July through September, while peak West Nile Virus season is usually not until late August through early September or even October in some areas. Temperatures need to be around freezing before mosquitoes will start to die off for the winter.

3. Mosquitoes typically lay their eggs in water, but eggs can survive in wet dirt.
Most mosquito species prefer to lay eggs at the edge of water bodies against mulch, grass, foliage or refuse that will hold the eggs at the surface of the water. If the water evaporates – or you pour it out – before the eggs develop, which usually takes about seven to 10 days, the eggs will not develop completely into adults, and they will die. If water is not present but the ground is moist, those eggs can sit for months until there is enough water to float the eggs to develop and feed the larva.

4. There is no telling what this year's mosquito population will be or how severe the nation's West Nile Virus outbreak will get.
Winter of 2012 was abnormally mild, and, along with last summer's record-breaking temperatures across some areas of the country, mosquitoes were able to thrive. This past winter saw more seasonal temperatures, depending on which area of the country you reside. Other factors to take into consideration are droughts and hurricanes. Even a little bit of water from a thunderstorm, washing your car or watering your lawn can be enough to encourage mosquito breeding. Strong winds from hurricanes can displace mosquitoes, including those that carry West Nile Virus. The virus is carried in and transmitted by birds, and wind can also move birds to different areas.

5. Most mosquito species are only active during dusk and dawn.
There are more than 3,000 mosquito species throughout the world, and about 200 of those exist in North America. Prime mosquito biting hours are between dusk and dawn, but some species are active during the day.

Orkin experts also recommend people take the following precautions to protect themselves:
• Wear EPA-approved insect repellent along with long sleeve shirts and long pants.
• Stay indoors during dusk and dawn and an hour before and after dusk and dawn.
• Protect your yard; call a professional pest control company for a customized mosquito inspection and treatment program.
• Replace outdoor light bulbs with yellow bulbs that are less attractive to mosquitoes.

Source: Orkin

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Seven Tips on Successfully Buying Your Dream House
By Tanya Marchiol

1. Be preapproved: About three or four months before homebuyers even shop for a home, they should review their credit reports to make sure they're accurate and take short-term steps to improve their credit score, says Michael Corbett, author of “Before You Buy!” Corbett says buyers should then get a bank's preapproval. While that won't guarantee they'll get the loan, it shows sellers that a lender has verified the buyer's income and credit score to determine that he or she can afford payments on a mortgage for a certain amount.

2. Don't lowball: Buyers may only get one chance to get the home they want in a competitive market. They may not get a second try to sweeten the deal later, so a low-ball offer the first time around could cause them to lose out. Buyers should use sales prices of comparable properties in the neighborhood to submit their best offer the first time around.

3. Consider an escalator clause: These purchase contract clauses are becoming more popular again. This is when the buyer agrees to increase their offer if there's a higher bid from another buyer.

4. Add earnest money: The extra deposit can show sellers how serious the buyer is. Some buyers may even double the amount that the seller requests to show their commitment in purchasing the home.

5. Keep contingencies to a minimum: Sellers prefer no contingencies, but buyers want to protect their interests too. "Offset a financing contingency with preapproval and a strong earnest money deposit," Kiplinger's Personal Finance reports. "If you have enough cash, temper an appraisal contingency by assuring sellers that if the appraisal comes in lower than the purchase price, you'll pay the difference or split it with them (up to a certain amount)."

6. Write a letter: Personal love letters about the home addressed to the sellers are winning over some hearts lately. The letters tell the seller about the buyer and what drew the buyer to the home.

7. Give the gift of time: Express your willingness to work with the sellers' timetable to go to closing. If the sellers want to remain in the home for a while after closing, offer them a "lease back" or "rent back," which means that you will be their temporary landlord. This is a legal arrangement, and you'll need to work out the details with your agents and be sure that the sellers keep their homeowners insurance during their stay. If you are bidding on a short sale, make clear to the sellers that you are patient and can wait for the bank's decision .

Tanya Marchiol has appeared on CNBC, Fox Business News & Wall Street Journal is Author of the new book "The Prosperity Principles." In 2013, Arizona Business Magazine named Marchiol "Realtor Of The Year."

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Tips for a Great Summer Party

(Family Features)—There is nothing better than gathering family and friends for a fun, outdoor get-together. With a few decorating tricks and entertaining ideas, anyone can become the "host(ess) with the mostess."
Whether your outdoor space is a sweeping, lakeside veranda or a tiny balcony with parking lot views, embrace it. To help Americans get the most out of their outdoor spaces and enjoy the summer season, OFF! has partnered with lifestyle and entertaining expert Katie Brown. Together, they have the tips and tricks to help ensure you're prepared this summer for any outdoor gathering -- be it a casual family dinner or a summer party with the neighbors.

First, a little preparation goes a long way. In the recent Summer Savvy Survey conducted by the makers of OFF!, 80 percent of respondents said getting a bug bite and running out of food are the two most annoying things that could ruin an outdoor party. Before heading outside, spot treat your backyard with a product designed to protect it from a variety of insects like mosquitoes, ants and fleas.
For a welcoming atmosphere, Brown always suggests incorporating flowers. Loosely arrange cut flowers in vases or salvaged bottles to enhance the ambiance of any summer get-together. Potted plants are inviting and can serve many purposes, such as welcome signs, house numbers and bird feeders, so get inspired and have fun getting creative.
When it comes to prepping your outdoor living space for summer gatherings, remember that the tricks you use inside your home to make a space more cozy and inviting also work well outside. Cluster seating around a coffee table then add side tables for plates of food and glasses. Anchor the grouping with a beautiful outdoor rug. Then amp up the fun factor with vibrant hues that mimic the colors in the surrounding landscapes. Why not poppy red pillows or a sunflower yellow tablecloth? Keep the decor light, bright and festive.
Lighting is another key consideration. Make sure there is plenty of lighting in the areas where your guests will gather as well as along walking paths or driveways. Lighting can also create a special festive feeling at any party. There is something truly magical about thousands of tiny white lights surrounding an outdoor space. For ambiance, string several strands of lights through trees and bushes or along wooden decks.
Clusters of candles should also be placed on small tables near where the guests will be lounging. Make sure to include an OFF! Citronella Candle or two. They add several hours of ambiance and style, not to mention protect you from pests!
If you're hosting a planned event, preparation for any type of weather is important. Try to anticipate things your guests may need to be comfortable during the party. Fill up wicker baskets, or "pamper pots," and set them near various seating areas. It's a thoughtful touch guests will really appreciate. Items to consider are:

• Sunscreen: Even if the day is cloudy, both kids and adults will appreciate having an extra bottle of sunscreen on hand.
• Mosquito repellent: The OFF! Clip-On gives your guests personal protection against mosquitos so they can stay comfortable throughout the event.
• Light blankets: The success of a party is often judged by how late people linger. Roll up a few light blankets and tuck them in the basket in case evening brings a chilly drop in temperature.
• Umbrellas: Whether guests use them for an unexpected rainshower or to shield themselves from the sun, umbrellas are a thoughtful touch.
• Flashlights: A little extra illumination may come in handy during late night festivities. The kids might find flashlights make for a great game of tag.

If you're hosting a planned event such as a birthday party or holiday BBQ, consider offering a fun take-home treat. As the party winds down, fill a small beach bag with any extra supplies, such as flashlights, sunscreen, insect repellent, bubbles and sidewalk chalk, for each family. Your guests will go home with great memories, lots of pictures of your spectacular soiree and a few goodies for their next outdoor adventure.
Source: www.keepbugsoff.com

Reprinted with permission from RISMedia. ©2013. All rights reserved.

Extend Your Living Space Outdoors

(BPT) - The backyard is more than just a lawn to mow or a place for the pooch to run around. Many homeowners are turning their backyards into an extension of their homes, bringing the indoors outside for additional living space.

Upgrading or building a deck is the first way to incorporate an outdoor living space into the backyard. Some homeowners build an outdoor cooking space with their grill in mind, while others prefer a relaxing, living-room environment with comfortable seating and potted plants.
"Your backyard should be your sanctuary," says Janette Ewan, a Los Angeles-based interior decor stylist. "I'm all about multiple outdoor spaces. It's really about looking at your outdoor space as an extension of your home."
Here are some tips to building your outdoor living space in your backyard:
An outdoor cooking area: If your family typically gathers in the kitchen, it would make sense to create another cooking area on your deck space, perfect for connecting with the family and for entertaining. Installing a grill is a good start, but also consider incorporating counters/tables for food prep, a mini fridge, a sink and even a bar into your set-up, allowing you to prepare everything while outdoors.
A gathering space: Patios and decks are perfect for sitting around and enjoying visits from friends, especially if the spaces are decorated for the occasion. A few key pieces of furniture and well-positioned accessories are all that is needed. For example, a flat surface, like a patio, would look great with a Moroccan-style rug, combined with a small sectional. However, decks made out of natural material like Western Red Cedar are best left uncovered, to showcase the warm, distinctive look. Whether the cedar wood is left natural and turns silver gray, or stained to complement the coloring of your house, the wood will bring a beautiful look to your outdoor living space. Add a Mexican chiminea or a metal fire bowl to round out the "room."
Accent elements: "Adding elements like pergolas or arbors are a great way of creating impact without a huge commitment of time," says home improvement expert Mark Clement, co-host of "My Fix It Up Life."
These structures support climbing plants and vines, and help to separate your outdoor space from the surrounding area. This also creates a sense of enclosure, while still being open and letting in plenty of sunlight and fresh air. Western Red Cedar is a good material choice for an arbor or pergola compared to composite materials, because it is easy to work with, rot-resistant, and has natural oils that emit a wonderful aroma.
Whether you're extending your home onto your deck or creating a new area on the lawn, the bottom line is to trust your eye and think about separating each space with a structure and grouping of elements. You'll get years of enjoyment from your new favorite outdoor living space.

Reprinted with permission from RISMedia. ©2013. All rights reserved.