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3rd Quarter Market Update

Wednesday, October 19th, 2011

Though the housing industry is still facing challenges, there are several bright spots that can be found in different regions throughout the country. For example, a CoreLogic study showed August home prices increasing in 12 states and Washington DC by up to 9 percent (West Virginia).  And our comprehensive market analysis system, Local Housing Data, shows positive movement in overall unit sales in the northeast. 

Though average sales prices seemed to settle a bit compared to the 2^nd quarter, unit sales were up by as much as 15.5 percent in the third quarter.  This shows a pickup in demand, likely due to a combination of historically low interest rates and low home prices.  It is also positive to see the number of home sales increasing year over year, despite the elimination of the homebuyer tax credit last year.  The table below lays out major market indicators for the northeast. 

As mentioned before, mortgage rates are near historic lows, though they did spike last week.  The 30-year FRM averaged 4.12 percent at the end of last week vs the prior week, when it averaged 3.94percent.  A 15-year FRM averaged 3.37 percent up from the prior week when it averaged 3.26 percent.  This uptick was likely related to a better than expected employment report for September. 

Without a doubt, we are still in the midst of a buyer’s market.  Extremely low prices and low interest rates remain wonderful incentives for homebuyers-there really hasn’t been a better time in recent history to purchase a home.  In fact, as the Wall Street Journal recently stated: “It’s an excellent time to buy a house, either to live in for the long term or for investment income…Houses aren’t the magic wealth creators they were made out to be during the bubble. But when prices are low, loans are cheap and plump investment yields are scarce, buyers should jump.” 

We would like to make a note to sellers, however.  Due to the robo-signing controversy last year, you may have noticed that foreclosure numbers are dropping.  Investigations were were led into lender and foreclosure procedures, slowing down the overall processing times.  However, there have been numerous predictions from major financial and real estate institutions, such as Standard & Poor, JP Morgan and Barclays stating that an glut of foreclosures, due in the coming months, will push prices down by bu to another 6 or 7 percent.  As a seller, you don’t want to have your home on the market when this happens.  Sell now to avoid losing too much equity in the future.

$1.5 Million Raised in the Fight Against Breast Cancer

Tuesday, May 17th, 2011

The latest from blog.raveis.com

 

Last month, William Raveis Real Estate presented a check for $153,000 to members of the William Raveis American Cancer Society (ACS) Patient Navigator Program at the University of Connecticut Health Center and the Beth Israel Deaconess Medial Center Patient Navigator Program in Boston, Massachusetts in support of those fighting breast cancer.  Active fundraising company-wide has brought total contributions by William Raveis to nearly $1.5 million dollars to help fight this widespread disease.

Attendees to this special event included, from the William Raveis ACS Navigator Program at UConn, Nancy Baccaro, Registered Nurse at the UConn Health Center and Pam Nixon, Head Patient Navigator for the UConn Navigator Program.  From Beth Israel Deaconess, Ana Marin, Head Patient Navigator for the Beth Israel Navigator Program and Christopher Thomas, Senior Vice President for Leadership Giving for the ACS, were in attendance.  These individuals discussed William Raveis’ fundraising as a catalyst for several breast cancer initiatives within their respective programs.  This includes the Look Good, Feel Better Program, where female patients are given tips on facing adverse reactions from chemotherapy and the Man to Man program, which is a similar initiative for male patients.

William Raveis sales associates and staff participated in a 3 month long raffle to support and raise funds for the ACS Patient Navigator Programs in CT and MA.  In addition, the company organized annual William Raveis Breast Cancer Golf Tournaments at Oxford Greens in Oxford, CT and Nashawtuc County Club in Concord, MA.

“The collective efforts of our sales associates, staff and members of the community in the fight against breast cancer has been nothing short of outstanding,” said William Raveis Chairman & CEO, Bill Raveis.  “In just 6 short years, we have been able to raise close to $1.5 million dollars to support this important ACS initiative and positively impact the lives of thousands of breast cancer patients.  My greatest thanks to everyone who has been a part of this endeavor.”

5 Things to do Before Putting Your Home on the Market

Monday, March 14th, 2011

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin. 

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin. 

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

 

 

Do Your Kids Have Plans this Summer?

Friday, February 25th, 2011

Need some ideas on what the kids can do this summer? Goto the Everything Kids expo at Washington Montessori School from 9-2pm tomorrow. BEATLEMANIA takes the stage at 7pm!

https://www.facebook.com/event.php?eid=109928489083911&index=1

EVERYTHING Kids Expo
Washington Montessori School
240 Litchfield Tpk, New Preston
SAT – 2/26 – from 9-2pm

Sunset in New Milford Today

Thursday, February 24th, 2011

Spring break? Rent a Luxury Vacation House

Monday, February 21st, 2011

• Spring break? Rent a luxury vacation house

Source: money.cnn.com

By Les Christie, staff writer

NEW YORK (CNNMoney) — It’s your vacation. Where would you prefer to return to after a busy day, a cramped hotel room or a real home with a cushy sofa, a patio and a refrigerator to raid?

Increasing numbers of holiday goers are choosing the later. The leading site for renting vacation homes, HomeAway.com, has 10 times the number of rentals than five years ago. That’s more than 500,000, — with 55,000 in France alone.

It’s all about value, and with the economy the way it is, that has accelerated,” said Alexis de Belloy, the company’s vice president.

Experts recommend renting a house if you’ll be somewhere for more than three nights. “In most places, it’s less expensive to rent a vacation home than a hotel, especially for families who need more than one room,” said Christine Karpinski, author of “How to Rent Vacation Properties by Owner.”

But there are other reasons, too, to take the risk and rent a home.

• Space: Generally, the more bedrooms you need, the bigger the savings. Vacation houses for three, four even 12 bedrooms are available. Plus, houses have sitting areas, kitchens and, usually, outdoor spaces, which means vacationers can relax in comfort when the day’s activities are done.
• Cooking: Most listings come with full kitchens. Vacationers often say they don’t want to cook on their holidays but even the most diehard restaurant goers may tire of dining out every meal. “They don’t want to get up and get dressed in the morning just to get a cup of coffee,” said Karpinski.
• Location: These rentals are everywhere, she said, often where there are no hotels.

Spring break: 7 gorgeous homes for rent 

There are pitfalls as well. Unlike many hotels where the ideal is a consistent level of service and amenities, vacation rentals vary — a lot.

“Even rentals in the same condominium complex are all individually decorated and equipped,” said Karpinski. “That can be good or bad.”

To improve the odds getting what they really want, renters should ask lots of questions, especially about what is most important to them.

Karpinski once rented out one of her own vacation homes in the Smokies of Tennessee. Two sisters were interested in the property and kept asking how private it is.

“I told them, ‘very private; it’s in the woods’ and cautioned them that, as two women, they may not want to stay there,” Karpinski said.

The more she tried to discourage them, the more they wanted to stay. But when they arrived, they found it was more than they bargained for.

“They called the first night saying, ‘We’re so scared,’” said Karpinski. “I don’t blame them. There are raccoons and bears. At night, flying squirrels do somersaults on the roof and make a lot of noise.”

She refunded their money, but renters shouldn’t count on all owners being so generous. It also taught Karpinski a lesson that other owners might want to heed: “Don’t do a hard sell. The place has to be a good fit.”

Renters should ask specifically about heat and air conditioning, the cooking equipment, laundry facilities, whether there are nearby restaurants or markets, and how noisy the location is, for example.

Sometimes the answers to these questions are not highlighted on property websites — especially if it is negative, like noisy streets. Even if the information is there, travelers may not interpret it correctly.

Most foreign sites, for example, give the size of the rental in metrics. How many Americans know a 20 square meter apartment — not uncommon in the center of Paris or Rome — is a very cozy 215 square feet?

Photos may make the place look bigger than that and, once the sofa bed is rolled out, navigating around can be difficult.

That dirt road up to a mountain-top retreat in Colorado mentioned in the listing may be hard to get up in anything less than a four-wheel drive. Find out before you book.

It’s also important to get things in writing, according to Karpinski. “It’s a business transaction,” she said. “I can’t believe that people see something on the Internet and have 100% trust.”

Anyone thinking about home rental should start early, said HomeAway’s de Belloy, because rentals are usually booked at least 90 days in advance.

There can be, however, great last-minute deals that owners offer to fill unused spaces. 

Quo Vadis – a unique place to shop

Saturday, February 12th, 2011

Quo Vadis is located next to the Hickory Sticky Book Shop in Washington Depot. They offer an assortment of handmade, one-of-a-kind items, including; Jewelry, Accessories, Handbags, Clothing, Body Care Products, and Home Accents from around the world. Quo Vadis is a fantastic place to get a unique and special gift for a friend or even yourself! I did!  Stop by or visit their website: www. quovadisaccessories.com

—Alison Lundie, Realtor®

Quo Vadis is about preserving the artistry of centuries old craftsmanship upon which traditions were founded. It is about valuing true workmanship and distinguishing it from mediocrity. We strive to find products for the individual and the non-conformist. In doing so, we support artisans whose work might otherwise disappear. We value our customers as we do our artisans, and take great satisfaction in bringing to them the unique, the handmade, the one of a kind.

Many of our products are sourced in Italy

Quo Vadis also purveys hand-mades from other parts of the world, including France, Israel, the United States, and Indonesia, to name a few. Hand crafted treasures include body care, jewelry, and other accessories, both personal and for the home.

Ice Building Up on Your Roof?

Tuesday, February 1st, 2011

This is no laughing matter to most of us in New England this year. Record snowfalls and ice dams have caused damages to roofs, gutters, insulation, ceilings, and interior walls. Removing snow from a roof and de-icing gutters is not an easy task and can require the work of a professional. The following article by Henry’s Housework, gives some insight into what these ice dams are and how to prepare your home for next winter.

The Art Of Ice Dam Removal

Authors Website: Henry’s Housework

http://www.homeimprovementweb.com/information/how-to/ice-dam-removal.htm

 The Ice-Melt-Sock

In doing further research on the subject, I came across this post from someone who had commented on this very same article on another website, and I had to share it. I think the Ice-Melt-Sock is ingenious!

“posted Nov 18, 2009 by “Sweetfilter”:  If you live in the north you are going to get ice dams. The first thing to do when you have an ice dam is to open a channel in the ice to drain away the water and stop leaks into the house. A refillable snow melt sock or ice melt sock thrown on the roof and pulled into place will open a channel in minutes.”

—Alison Lundie, Realtor®

Winter Visitors

Wednesday, January 26th, 2011

Despite the frigid temperatures outside, the continual snow that just won’t stop, and I won’t even mention the icicles, these photos from my front yard and apple tree will warm you right up. I always anticipate the harvesting of our apple tree by a flock of bluebirds that pass through every winter. To my surprise, this year they brought friends, and lots of them! I was surprised to find that so many Robins were feasting as well. In a matter of days they devoured all of the berries. The fox was another passing surprise one chilly, school-delay morning.

—Alison Lundie, Realtor®

Holiday Fire Safety Tips

Thursday, December 9th, 2010

By: Pat Curry
Published: November 18, 2009

The holiday season is one of the most dangerous times of the year for household fires, so take note of these tips to reduce your risk.

 

Christmas trees are a beautiful holiday tradition, but be sure to keep them away from all heating sources.

Residential fires during the holiday season are more frequent, more costly, and more deadly than at any other time of the year. The U.S. Fire Administration (USFA) reports more than double the number of open-flame fires on Christmas Day than on an average day, and about twice as many on New Year’s Day. And when those fires occur, they do more damage: Property loss during a holiday fire is 34% greater than in an average fire, and the number of fatalities per thousand fires is nearly 70% higher. When the source of the fire is a highly flammable Christmas tree, the toll in property and lives is even greater.

To keep your household from becoming a holiday fire statistic, here are some safety tips to follow.

Cooking

Cooking is the top cause of holiday fires, according to the USFA. The most common culprit is food that’s left unattended. It’s easy to get distracted; take a pot holder with you when you leave the kitchen as a reminder that you have something on the stove. Make sure to keep a kitchen fire extinguisher that’s rated for all types of fires, and check that smoke detectors are working.

If you’re planning to deep-fry your holiday turkey, do it outside, on a flat, level surface at least 10 feet from the house.

Candles

The incidence of candle fires is four times higher during December than during other months. According to the National Fire Protection Association, four of the five most dangerous days of the year for residential candle fires are Christmas/Christmas Eve and New Year’s/New Year’s Eve. (The fifth is Halloween.)

To reduce the danger, maintain about a foot of space between the candle and anything that can burn. Set candles on sturdy bases or cover with hurricane globes. Never leave flames unattended. Before bed, walk through each room to make sure candles are blown out. For atmosphere without worry, consider flameless LED candles.

Christmas Trees

It takes less than 30 seconds for a dry tree to engulf a room in flames, according to the Building and Fire Research Laboratory of the National Institute for Standards and Technology. “They make turpentine out of pine trees,” notes Tom Olshanski, spokesman for the U.S. Fire Administration. “A Christmas tree is almost explosive when it goes.”

To minimize risk, buy a fresh tree with intact needles, get a fresh cut on the trunk, and water it every day. A well-watered tree is almost impossible to ignite. Keep the tree away from heat sources, such as a fireplace or radiator, and out of traffic patterns. If you’re using live garlands and other greenery, keep them at least three feet away from heating sources.

No matter how well the tree is watered, it will start to dry out after about four weeks, Olshanski says, so take it down after the holidays. Artificial trees don’t pose much of a fire hazard; just make sure yours is flame-retardant.

Decorative Lights

Inspect light strings, and throw out any with frayed or cracked wires or broken sockets. When decorating, don’t run more than three strings of lights end to end. “Stacking the plugs is much safer when you’re using a large quantity of lights,” explains Brian L. Vogt, director of education for holiday lighting firm Christmas Décor. Extension cords should be in good condition and UL-rated for indoor or outdoor use. Check outdoor receptacles to make sure the ground fault interrupters don’t trip. If they trip repeatedly, Vogt says, that’s a sign that they need to be replaced.

When hanging lights outside, avoid using nails or staples, which can damage the wiring and increase the risk of a fire. Instead, use UL-rated clips or hangers. And take lights down within 90 days, says John Drengenberg, director of consumer safety for Underwriters Laboratories. “If you leave them up all year round, squirrels chew on them and they get damaged by weather.”

Kids Playing with Matches

The number of blazes—and, tragically, the number of deaths—caused by children playing with fire goes up significantly during the holidays. From January through March, 13% of fire deaths are the result of children playing with fire, the USFA reports; in December, that percentage doubles. So keep matches and lighters out of kids’ reach. “We tend to underestimate the power of these tools,” says Meri-K Appy, president of the nonprofit Home Safety Council. “A match or lighter could be more deadly than a loaded gun in the hands of a small child.”

Fireplaces

Soot can harden on chimney walls as flammable creosote, so before the fireplace season begins, have your chimney inspected to see if it needs cleaning. Screen the fireplace to prevent embers from popping out onto the floor or carpet, and never use flammable liquids to start a fire in the fireplace. Only burn seasoned wood—no wrapping paper.

When cleaning out the fireplace, put embers in a metal container and set them outside to cool for 24 hours before disposal.

Pat Curry is a former senior editor at BUILDER, the official magazine of the National Association of Home Builders, and a frequent contributor to real estate and home-building publications.

Read more: http://www.houselogic.com/articles/holiday-fire-safety-tips/#ixzz17dnPLkv2