Pending Home Sales Rise Again

RISMEDIA, April 29, 2011—March saw another increase in pending home sales, with contract activity rising unevenly in six of the past nine months, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 5.1 percent to 94.1 in March from a downwardly revised 89.5 in February. The index is 11.4 percent below 106.2 in March 2010; however, activity was at elevated levels in March and April of 2010 to meet the contract deadline for the home buyer tax credit.
The data reflects contracts but not closings, which normally occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, says home sales activity has shown an uneven but notable improvement. “Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own,” he notes. “The index means modest near-term gains in existing-home sales are likely, which would be even stronger if tight mortgage lending criteria returned to normal, safe standards.”
The PHSI in the Northeast fell 3.2 percent to 63.4 in March and is 18.4 percent below March 2010. In the Midwest the index rose 3.0 percent in March to 83.5 but is 16.6 percent below where it was a year ago. Pending home sales in the South jumped 10.3 percent to an index of 110.2, but are 10.5 percent below March 2010. In the West, the index increased 3.1 percent to 103.7 but is 4.1 percent below a year ago.
“Based on the current uptrend with very favorable affordability conditions, rising apartment rents and ongoing job creation, existing-home sales should rise around 5 to 10 percent this year with sales growth of lower priced homes likely to outperform high-end homes. That means the price trend will reflect more homes sold in the lower price ranges,” Yun says.
“The good news is that recent home buyers are staying well within budget, leading to exceptionally low loan default rates among home buyers over the past two years,” Yun adds.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.
For more information visit www.Realtor.org.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
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Real estate sales rebound in 2011, prices nearly flat | Inman News

Real estate sales rebound in 2011, prices nearly flat Inman News

Replace or Repair Wood Trim to Spruce Up Your Home

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House Hint - Seal Air Leaks Around Windows

By: Jeanne Huber

Published: December 14, 2010

Seal air leaks around windows and doors to prevent wasting home heating and cooling energy that costs you money.
Progress E K
Effort Low 3-4 hours
Investment Med $25-$37 (new threshold; weatherstripping)
0Comments Added to Binder

Caulking and adding new weatherstripping can make old windows more efficient. Image: Somos Photography/Veer

An average home loses up to 30% of its heating and cooling energy through air leaks. The most significant air leaks tend to occur around windows and doors. To stop air leaks and prevent your home heating and cooling dollars from vanishing in the wind, it’s important to seal any air leaks around windows and doors.

Check for air leaks
With windows and doors closed, hold a lit stick of incense near window and door frames where drafts might sneak in. Watch for smoke movement. Note what sources need caulk, sealant, and weather-stripping.

Seal air leaks around windows
If you have old windows, caulking and adding new weatherstripping goes a long way toward tightening them up.

Bronze weatherstripping ($12 for 17 feet) lasts for decades but is time-consuming to install.
Self-stick plastic types are easy to put on but don’t last very long.
Adhesive-backed EPDM rubber ($8 for 10 feet) is a good compromise, rated to last at least 10 years.
Nifty gadgets called pulley seals ($9 a pair) block air from streaming though the holes where cords disappear into the frames.

Seal air leaks around doors
Check for air leaks, and replace old door weatherstripping with new.

Foam-type tape has an adhesive backing; it’s inexpensive and easy to install. If it comes loose, reinforce it with staples.
Felt is either adhesive-backed or comes with flexible metal reinforcement. it must be tacked or glued into place. It’s cheap and easy to install, but it has low durability.
Tubular rubber, vinyl, and silicone weatherstripping is relatively expensive and tricky to install, but it provides an excellent seal. Some types come with a flange designed to fit into pre-cut grooves in the jambs of newer doors; check your existing weatherstripping and replace with a similar style.
Check exterior trim for any gaps between the trim and your door frames, and the trim and your siding. Caulk gaps with an exterior latex caulk ($5 for a 10-ounce tube).

Seal door bottoms
If a draft comes in at the bottom, check the condition of the threshold gasket. Replace worn gaskets. If you can see daylight under the door, you may need to install a new threshold with a taller gasket ($25 for a 36-inch door). Or, install a weather-resistant door sweep designed for exterior doors ($9). Door sweeps attach directly to the door and are easy to install.





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5 Holiday Hosting Disasters and How to Avoid Them

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  5 Holiday Hosting Disasters and How to Avoid Them

  Take a look at the most common things that can go wrong when you have guests and learn how to prevent them. Read

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Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

HOME OWNERSHIP MATTERS!

Home ownership is important to families and communities! View this video! http://link.brightcove.com/services/player/bcpid1785312249?bclid=1740033302&bctid=664750407001

Tips to Keep Your Home Safe and Sound

RISMEDIA, November 1, 2010—The well-being of our family is a priority all year, but is especially considered during the holidays when statistics about accidents abound. Most of us, with the possible exception of Clark Griswold in National Lampoon’s Christmas Vacation, take extra precautions for the holiday season. If you’re buying or selling a home, here are a few tips for safety and security that ensure a safe and happy home during the holidays, and all year long.

1. Protect little ones.Whether you are preparing for a visit from your grandkids, nieces and nephews, or you have kids of your own, a child-proofing kit makes safety easy with grip-and-twist doorknob covers, latches and plug protectors.• Child-proofing kit (Safety 1st, #42023), oven lock (Safety 1st, #62342), cord channel kit (#69682)

2. Mark and secure entries.The holidays can be prime time for burglaries, but updating your locks with an electronic deadbolt system can provide added peace of mind. If you install a set with a numeric keypad, you’ll never have to worry about leaving keys for your guests again. Mark your entry with path lights that clearly guide the way to the door.• Deadbolt entry set (Schlage, #40179), LED metal path lights (Portfolio, #284341)

3. Clear the air.Place an air purifier in the guest room and common areas to remove allergens (especially pet dander) and prevent the spread of cold and flu germs. Choose one with a true HEPA filter for maximum effectiveness.• 200 CADR air purifier with UV-C (Idylis, #302654)

4. Be fire smart.With holiday lights, candles and lots of cooking in the kitchen, it’s important to be prepared. Safeguard your family by keeping an extinguisher on hand for small fires, and install smoke and carbon monoxide detectors throughout your home. Check the batteries frequently to make sure they are in working order.• Basic fire extinguisher (Kidde, #3741), voice-alert carbon monoxide/smoke alarm (Kidde, #143036)

5. Equip your bath.It’s a snap to convert your guest bath into a safer place for older guests and young children. Add a grab bar to make getting in and out of the tub easier, and a durable bath mat to help prevent slips in the shower.• Bath safety bar (16½ -inch, #191936), rubber bath mat (Style Selections, #6777)

For more information and ideas, please visit www.lowescreativeideas.com.
This article is adapted from Lowe’s Creative Ideas for Home and Garden®, November/December 2010 issue, Style & Solutions – Home Safety.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 40 leading brokerages, which make up 575 offices, 30,000 agents, 167,000 closings and represents over $41 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.
Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.