It may be cold outside, but it's no time hibernate when it comes to home maintenance. Have you ever wondered how some friends or neighbors live in older homes that are still in good working order? This isn't just a lucky coincidence.

Houses require careful attention, especially in the Winter, in order to keep in good working order. If you take the extra time each season to check your home over and perform the necessary maintenance, then you'll be sure to have a sturdy home for years to come.

First, it's important to keep your family safe and warm when it's chilly outside. Do a twice yearly check on your windows and doors for air leaks. Under most circumstances you can easily fix these with caulking. Are your windows in need of a more energy efficient upgrade? Have you thought about installing storm windows and doors? These are important questions to ask yourself. If you have older, non-insulated windows it may be time to replace them. You can even deduct some of these upgrades from your incomes taxes!

If you find leaks, then take the necessary action to fix them pronto. You may find that some doors continue to leak air even after you've made them "air-tight." This means it is time for Plan B. Storm doors work wonders for keeping out the elements. Many stores also sell draft blockers that sit at the bottom of you doors.

Next, schedule a time to service your heating system. Central heat and air units need to be checked over. When a unit is well-serviced it will save you fuel and thus money.

If your home is older, then you might consider a trip to the attic to check ductwork. You never know what critter has chewed through ducts or what parts have become disconnected.

While you're in the attic take a hard look at the state of your insulation. Is it adequate for your region? Is ductwork well-insulated? Older homes can sometimes be completely devoid of attic insulation. If so then it's time to bring in some reinforcements. Insulation is relatively inexpensive and can save you big in the long run.

Do you heat using a wood burning fireplace? Is it imperative for your safety to have your chimney cleaned and checked multiple times during the Winter season if you use your fireplace regularly. Chimney fires happen all the time.

There are smaller issues to attend to as well. Did you know that your ceiling fans have two settings for the blades? You want to be sure to reverse your fan in the Winter so that it pushes the hot air (which naturally rises) back down into your living spaces.

Gutters become full of leaves and other debris. If you fail to clean your gutters they can begin to hold water which can eventually rot away the siding and roof of your home. When the weather drops below freezing you need to keep your pipes from freezing. Let faucets drip and unhook all outdoor hoses.

Finally, every responsible homeowner is stocked with the proper tools. Keep sand or salt on hand to de-ice slipper steps and sidewalks. Invest in a heavy duty snow shovel or snow blower. Your home is your biggest asset and literally keeps a roof over your head. Be kind and take care even during the chilly Winter months.

Carla Hill, Realty Times Published: January 19, 2012

Sales volume reached $84.4 million for the month compared to $75.5 million last year, an increase of 12%. This activity generated an average sale price for November of $115,700, down just .45% from last year. The median sale price was up 1.4%, $91,250 compared to $90,000 a year earlier.

Sales year-to-date through 11 months now total 20,610, compared to 23,201 last year at the same point, down 2.7%. Before the recent streak of five straight increases in year-over-year sales, year-to-date sales were down 13.7%. This improvement is a very encouraging sign as we near a new year of activity.

Sales volume for single-family and condo sales year-to-date is now well over the billion-dollar plateau at $1.2 billion. The average sale price is currently remaining steady and shows a figure of $116,404 through November, still down 4.73%, compared to November 2010. The median sale price year-to-date is $94,900, down 8.7%, compared to $104,000 in 2010.

Single-family and condo listings submitted in November totaled 1, 247, down significantly (14.7%) from the 1,463 listings added during the same period in 2010. The January-November listing total has now reached 20,610, down 11.2% compared to 23,201 in 2010.

Overall MLS inventory at month’s end had declined to 7,683 compared to 8,245 in October and 8,010 last year at the same time. The supply of available active listings, based on November’s sales pace, stands at 10.5-months, up from a 9.5-month’s supply last month. This slowdown from last month is normal this time of year as the winter months and the holiday season draw a number of potential buyers toward other priorities.

That thought can make some sellers cringe. The thought of spending money to fix up a kitchen in a home that they're about ready to sell is unpalatable. However, it could make the difference between a buyer making a higher offer or even any offer at all. Kitchen makeovers don't need to make your blood boil and break you out in a sweat, fearing the loss of money that will soon be drained from your bank account. You can tidy up your kitchen and even give it a fresh, stylish, updated look, on a frugal budget. Let me show you how. It starts with simple things. The kind of tasks you can do yourself.

Deep cleaning. Nothing beats a deep cleaning. This means pulling the refrigerator out from the wall, moving furniture and giving the floor, baseboards, crown molding, walls, back splash, counters and all surfaces a good scrubbing. It's amazing how much crumbs and other debris accumulate in the kitchen (even in a well-cared-for kitchen there's usually a fair amount hidden in between appliances).

Scrub down the appliances. It's so unattractive when you walk into a listed home and you can tell what the family had for dinner just by opening the oven. Think buyers don't open your appliances? Think again! They're considering your home as their own. They will check out your refrigerator, oven, kitchen cabinets, and your closets. So, be careful what you stuff inside them. I often caution sellers to remove medication from your cabinets before having an open house. I know it's more work but it's safer and retains your privacy.

Buy hardware in bulk. You don't have to hire a remodeling company to come in and resurface your cabinets or replace them; that can be very costly. Giving them a deep cleaning or painting them (depending on their surface) can be an excellent way to freshen them up. Then, if you have worn-looking or outdated hardware, buy some knobs. When you buy the hardware in bulk you can often get a better price and easily replace them to give your cabinets a better look.

Experiment with custom high-end additions. Sounds like I'm talking about high-priced additions but actually you can head to a mass retailer and find additions like trim and even plate rack shelving that has a custom, high-end look at a moderate price. Then clear the clutter out of those cabinets and shelves and display beautiful plates in a spacious plate rack. Think of what you're used to seeing in a print or TV ad for home decor. It's like a computer ad that shows the solo computer without all the wires - clean, elegant, attractive.

Add molding to your cabinets. This can turn an every-day looking cabinet into a chic kitchen look. Painting your cabinets can give the entire kitchen an upscale look. However, be sure you know what kind of paint will adhere to your cabinets. Custom hood range. Adding a custom hood range–again it doesn't have to be outrageously priced–can really complete the look of your kitchen. It's a subtle difference that makes it look and feel more like a high-end remodeled kitchen.

A bit of planning and careful budgeting can go a long way in creating a kitchen that sparks an interest in prospective buyers.

By Phoebe Chongchua, Realty Times

Published: December 2, 2011

Cold weather, rain, and snow won’t keep a good buyer down. There are great deals to be had all year round. Buying doesn't always happen on schedule. It can take weeks or months to find the perfect house, you may need to move suddenly to follow a new job opportunity, or move to be closer to ailing parents.

Buying happens for a myriad of reasons and during every month of the year. Yet, buying during the holidays can be challenging, especially if you're a family with lots of traditions or with children.

If you have children, then here are some tips to make a move during the holidays a big deal in a good way!

First, children follow the lead of their parents. If you are depressed about missing out on Aunt Sue's famous turkey or daily noting the bad luck of buying during the holidays, your children will likely pick up on this. So start by adjusting your attitude first. Focus on the positive aspects of the move. Try to keep a cheery, upbeat attitude.

Will a child be getting their own room? Will their new room be "awesome"? These can be reasons to celebrate! Talk up all the great new area parks, restaurants, and kid-friendly attractions.

Older children may be a harder sell, especially if you're moving them away from their school or friends. Do a little research and find out more on area malls, sports teams, or youth groups that your child may be interested in.

Also consider rewarding children especially well for their good behavior during a move. Maybe now is a time for that allowance raise (if it doesn't seem too much like a bribe), to let them select the new decor for their new room, or to have one extra pizza night this week.

Communication is key for getting through a move, regardless of the season. Have a family meeting to discuss concerns and fears, or have one-on-one talks with each kid to assess their feelings.

Finally, make every attempt to keep traditions alive. This is important for adults and children alike. If your family loves having a fully decorated tree, then you might have to set it up twice this year -- once at your current home and then quickly again when you first arrive in your new home.

Boxes and chaos aside, you can still sit down for a fun family dinner or for an evening of singing songs and opening presents. Keep your traditions alive and your move this holiday season will be an easy one!

By Carla Hills, Realty Times  Published: November 8, 2011

For the third month in a row, home sales in the Miami Valley have improved over last year, according to the Dayton Area Board of REALTORS®’ Multiple Listing Service data released today.  Single-family and condominium sales registered in the MLS database for September showed 921 transactions, a healthy 95 unit or 11.5% increase compared to September 2010. These sales generated a dollar volume of $109.7 million, a 12% increase over last September. This translated to an average sale price of $119,133 and a median sale price of $98,000, also increases of 0.7% and 1.5% in year-over-year comparison.   

Sales through the first three quarters of the year have now reached exactly 8,000, down 5.6% from last year’s 8,475 during the same reporting period. This is a marked improvement from the first two quarters of 2011 when the figures showed a year-to-decline of 13.7% at the end of June.  

Total sales volume through September reached $928.6 million, down 11% compared to the end of the third quarter last year. The year-to-date average sale price per unit stood at $116,078 while the median sale price hovered at $94,500, declines of 5.8% and 10%, respectively.

Single-family and condominium listings added in September totaled 1,606, a drop of 15% compared to September 2010 when 1,896 submissions were tallied. Listings year-to-date totaled 17,783, a decline of 11.3% compared to 20,048 listing posted at the same time in 2010.  

The overall MLS inventory after three quarters shows 8,575 listings available for sale. This is the lowest inventory level MLS has shown since January of this year. The supply of properties for sale stands at 9.3-months based on the pace of sales during September. This is a slight increase from last month’s 9-month supply, when the sales pace was slightly higher.  

 Statistics provided by John Junker, MLS Data Specialist

Also, economists call the 15-year fixed mortgage drop to 3.28% the lowest ever for that loan. It appears they could go even lower as the Federal Reserve announced that it will push long-term rates down further. These historically low mortgage rates aren't necessarily rapidly selling homes. Across the country contract signings have been down. According to USAToday.com, “July's index fell 5.8% in the Northeast, 3.7% in the Midwest and 2.4% in the West. It rose 2.6% in the South.”

The index of sales agreements, tracked by the National Association of Realtors, showed a 1.2% drop down to 88.6 (100 is considered healthy). Still the opportunities for homeownership keep getting better. Some markets are more affordable than ever; prices have been cut in half in some metro areas. Of course, getting a loan can be part of the barrier to entry in the housing market. These days, to qualify for a loan a 20% down payment coupled with a high credit score are required by some lenders.

Now, a new credit score service being introduced in November claims it will give lenders a more accurate picture of a borrower's outstanding debts. The company's website has a countdown to the release of CoreScore (credit report from CoreLogic). It touts the system as a way to “see borrowers as you've never seen them before.”

Some lenders are being extremely strict because they have difficulty determining previous credit behavior. But according to CoreLogic, everything will soon change. The CoreScore credit report is a supplement, not a replacement for the current credit reporting systems.

According to the company, “The supplemental information the CoreScore credit report provides will expand your view of borrower credit profiles and deliver important insight into unseen risk and opportunities.”

Among the information that the CoreScore report will deliver to lenders are the following:

1. Properties owned—with and without debt obligations Mortgage obligations with companies that may not report to traditional credit reporting agencies

2. Property legal filings, such as notices of default

3. Property tax amounts and payment status

4. Estimated market values on all U.S. properties owned

5. Rental applications and evictions

6. Inquiries and charge-offs from pay-day and online lenders

7. Consumer-specific bankruptcies, liens, judgments and child support obligations

With mortgage restrictions tighter than ever and more supplemental information being offered to lenders about borrowers' debts and credit behavior, it's vital for borrowers to understand the most important qualifying factors that influence lenders.

The chief concern is the ability to repay the loan followed closely by the willingness to repay. Borrowers can place themselves in better standing with lenders by doing two key things: paying off as much debt as possible before applying for a mortgage. This is always good as it lowers the debt-to-income ratio. Secondly, lenders examine borrowers' track record of repayment to determine how they will behave if they are issued a loan. Making sure that credit behavior is monitored and any discrepancies are handled before applying for a loan will help borrowers have a cleaner record and increase the chances of qualifying for a mortgage.

Published: October 7, 2011 Realty Times

Sales figures for the first eight months of 2011 remain lower in year-over-year comparisons. There have been 7,022 single-family and condo sales reported through August compared to 7,625 in 2010, a decline of about 8%. A year-to-date sales volume of $811.5 million has produced an average of $114,689 and a median of $93,700, declines of 7.5% and 12.4%, respectively.

Listings submitted during August totaled 1,987, 15% fewer than last July’s 2,339. The first eight months of 2011 have seen 16,188 single-family and condo submissions made available for sale. This compares to 18,250 in 2010, a decline of 11%. Total MLS inventory as of month’s end showed 8,981 listings for sale, a decline of 380, or 4% from last month. Coupled with Augusts’ increase in sales, the supply ratio has dropped from 10 months in July to 9 months of available listings in August.  Last year at the same time, the supply was also 10 months.

Statistics provided by MLS Data Specialist John Junker.

Have you heard about the government's "green" homeowners incentives? Take a moment to see how you can upgrade your home and get money back!

There are two basic tax credits available for those interested in making energy efficient improvements to their homes. First, the Wind, Solar, Geothermal and Fuel Cell Tax Credit. It's good for both existing homes and new construction, when used for a homeowner's principal residence. Homeowners will received a credit totaling 30 percent of their cost for improvements put into service between January 1, 2011 and December 31, 2011.

Here's a list of what can qualify:

• Geothermal Heat Pumps 
• Solar Panels 
• Solar Water Heaters 
• Small Wind Energy Systems 
• Fuel Cells (on this item the credit may not exceed $500 for each 0.5 kilowatt capacity; other limits apply in the case of joint occupancy)

The second notable credit is for Qualified Energy Efficiency Improvements, which gives a 10 percent credit for purchases that were "placed in service" this year. This particular credit does have a limit, with "the maximum credit for a taxpayer for all taxable years being $500, and no more than $200 of such credit may be attributable to expenditures on windows. This rule means that taxpayers who have claimed $500 or more of this tax credit in prior years, particularly 2009 and 2010, can no longer participate in the program." (NAHB)

Let's take a look at what qualifies, according to the National Association of Home Builders an item qualifies if it:

• meets or exceeds the prescriptive criteria for such a component established by the 2009 International Energy Conservation Code as such Code (including supplements) (or, in the case of windows, skylights and doors, and metal roofs with appropriate pigmented coatings or asphalt roofs with appropriate cooling granules, meets the Energy Star program requirements);
• is installed in or on a dwelling located in the United States and owned and used by the taxpayer as the taxpayer’s principal residence;
• the original use of which commences with the taxpayer; and
• that reasonably can be expected to remain in use for at least five years.

These items can include building envelope component, insulation materials or systems, exterior windows, skylights, doors, storm windows and storm doors, metal or asphalt roofs, advanced main air circulating fans, and qualified natural gas, propane, or oil furnaces or hot water boilers.  

Perhaps most important is how one goes about filing these claims. First, keep every single receipt, along with make, manufacturer, and model number on items. You can file these credits alongside your taxes using Form 5695. If you have lots of credits and deductions to take, it might be wise to enlist the help of a tax professional. Also check out energystar.gov/taxcredits for more information!

Published: September 16, 2011 Carla Hill, Realty Times

Fall is a welcome reprieve from the oppressive heat of Summer. It also offers homeowners all across the country a chance to ready their homes for cold weather, hard rains, and all that cold seasons have to offer.

As the seasons change, once again it's time to perform some home maintenance. Here are 10 yearly tasks that will help keep your household in working order when the temperatures drop.

1. Clean Gutters: Do so frequently. Clogged gutters can result in standing water and roof damage. Plus, if you clean them frequently, you're less likely to have to deal with decomposing leaves.

2. Mow and trim: It seems counter intuitive, but Fall is a wonderful time to both fertilize and reseed your lawn. A maintained lawn improves a home's value and saleability. Use this time to trim shrubs and grass one last time so that your yard stands out, even in a dormant season.

3. Prune trees: With Winter comes ice. With ice comes broken limbs. Take advantage of nice weather and cut back or remove precarious limbs. It only takes one heavy snow or ice to weigh down a limb and damage property.

4. Powerwash: Driveways, sidewalks, decks, and patios can get quite grimy during the summer months. Invest in a powerwasher and you'll be surprised how clean you can get them!

5. Outdoor Living: Some furniture is made to be stored during rainy or snowy seasons. Clear a place in your garage or shed for the items. Consider covering them with a tarp and storing cushion in vacuum seal bags.

6. Heating Systems: Check furnaces and change filters. Not only will it boost efficiency, but it will also save you money in the process.

7. Check for Leaks: Recaulk around windows and doors to help prevent heat from escaping.

8. Fireplace: You don't want a chimney fire. Be sure to have your chimney swept or cleaned each year.

10. Piping: Check pipes for insulation to prevent freezing and bursting.

Every season holds different responsibilities for a homeowner. Be sure to stay on top of tasks each season to maintain your home's value!

Published: September 7, 2011  by Carla Hill, Realty Times

Single-family and condominium sales statistics for the Dayton Area Board of REALTORS® MLS showed some encouraging numbers in July. A total of 932 properties changed hands, which was 99 units (nearly 12%) better than last July’s 833 sales. The total sales volume for July reached $119.7 million, compared to $104.6 million one year ago.

The average sale price came in at $128,424, a 2.22% appreciation over last July’s $125,640 figure. The median sale price was also up slightly at $106,000 compared to $105,000 last July. This was the first time in 2011 and only the second time in 13 months that we had an increase in home values.

Year-to-date sales through July totaled 6,001, still down 10% from the 6,668 reported last July. A sales volume of nearly $686.4 million produced an average sale price of $114,670 and a median price of $93,900, down 7.36% and 12.5%, respectively. 

The number of listing entries for July numbered 1,868, down 21.7% in year-over-year comparison. During the January through July period, 14,227 single-family and condo units were added to the inventory, a 10.6% decline compared to the same period a year earlier.

The inventory at month’s end showed 9,361 properties available for sale, which translated as a supply of 10 months. This is a slight decline from June’s 9,409.  The supply at that time was 9 months when sales were slightly higher.

Single-family and condominium sales reported to the Dayton Area Board of REALTORS® Multiple Listing Service reached 1,058 in June, the highest total so far in 2011.  Compared with June 2010, this represented a decrease of 113 units, or 9.6%. However, with the beginning of the summer home shopping season underway, the rate of decline was a much slimmer drop-off than last month’s 18.8% year-over–year decline. June’s transactions resulted in a sales volume of $131.4 million, an average sale price of $124,374 and a median price of $101,900. Average and median were both high water marks for this year, albeit declines of 8% and 7.3% compared to a year earlier.

The six-month sales total showed 5,014 sales, down 13.7% year-over-year, and a total sales volume of $558.8 million. This translates to a January-June average sale price of $111,448 and a median sale price of $89,000, declines of 9.6% and 17.4% respectively, compared to the same period a year earlier.

Single-family and condo listing submissions in June totaled 2,126, 9.3% less than June of 2010 when 2,344 were entered. Year-to-date listing entries showed 12,367 added to the inventory. This represents an 8.8% decline in listing activity compared to the 13,560 added by the end of June last year.

There were 9,409 available listings in the inventory at the end of June, down from May’s 9,486 listings. This represents a supply of 8.8 months, also down from May when the available supply was at 9.2-months. This decrease in inventory and the supply ratio are both good signs going forward, as this indicates increased sales activity and a greater demand for homes. This pace is comparable to last year, when the supply sat at 8.4 months.

Area                                   # Homes Sold         Avg. Sale Price

Springboro                             44                 $252,569

Beavercreek-N. of Rt. 35          33                 $176,224

Fairborn                                33                 $ 83,778

Troy                                     29                 $134,731

Englewood, Clayton                 28                 $115,364

According to a recent survey, conducted on behalf of the National Association of Home Builders (NAHB), "An overwhelming 75 percent of the people who were polled said that owning a home is worth the risk of the fluctuations in the market, and 95 percent of the home owners said they are happy with their decision to own a home."

There is good reason for homeowners to feel this way. Homeownership offers people a wide range of benefits, including many that reside outside your pocketbook. The first benefit is stability. According to the National Association of Realtors (NAR) and their 2010 study named "Social Benefits of Stable Housing," "Homeownership and stable housing go hand-in-hand. Homeowners move far less frequently than renters, and hence are embedded into the same neighborhood and community for a longer period. "

This stability has far-reaching affects. Studies have revealed that children of homeowners are more likely to graduate and less likely to live in areas with high crime rates. Responsibility is also passed down to the next generation. Daughters of homeowners have a lower incidence of teen pregnancy.

According to the survey, "First, a home purchase naturally involves one of the largest financial commitments most households will undertake. Homeowners, therefore, tend to minimize bad behavior by their children and those of their neighbors that can negatively impact the value of homes in their neighborhood. Second, homeowners are required to take on a greater responsibility such as home maintenance and acquiring the financial skills to handle mortgage payments. These life management skills may get transferred to their children."

Homeownership even affects our health. This same NAR study found that homeowners report higher levels of physical health, even after the study adjusted for age and socioeconomic factors. "In addition to being more satisfied with their own personal situation than renters," says the study, "homeowners also enjoy better physical and psychological health."

Owning your home gives you stability. Eventually, if a homeowner buys within their means, even the longest of mortgages gets paid off. This makes your home one of your greatest retirement assets.

According to Celinda Lake, president of Lake Research Partners. "People believe overwhelmingly that owning a home is an anchor to the American Dream," she said. "It's an anchor to your retirement, and it's an anchor to your personal economic well-being."

"Homeownership is worth the risk, pure and simple," said Neil Newhouse, a partner and co-founder of Public Opinion Strategies. "Even though the market is weak, people who don't own say they want to buy a house. Almost three-quarters of those who do not currently own a home, 73 percent, said owning a home is one of their goals. And among younger voters who are most likely to be in the market for a home in the next few years, the percentages are even higher."

This is why 80 percent of owners would recommend homeownership to those they know. If you're in the market, maybe it's time you took listened to their advice! Historically low interest rates and high rates of affordability make now a great time to buy.

By Carla Hills, Realty Times Published: July 6, 2011

Little changes are how we make a big difference with the environment. From taking shorter showers to upgrading our appliances, there are ways each day we can help Mother Earth enjoy the Summer as much as we do!

How can you have a low-impact Summer? Our experts give us the following tips.

First, support your local growers. Get produce at your area's Farmers' Market. Buy fruits and veggies in the "grown local" section of your favorite grocery. This may not seem like a big deal, but it supports local commerce and reduces the amount of fuels needed to transport your produce.

The next step also pertains to our food. Grow it yourself! Growing a simple vegetable garden is easier than you think. Most of the work goes into good prepping. Periodic weeding and harvesting are simple manual tasks that deliver real fruits of your "labor." Save money on your electric bill and contribute to a "new" way of living that is spreading across the country.

If you grow your own garden, consider being as natural or organic as possible. There are a plethora of wonderful products on the market that help keep bugs at bay.

Natural bug repellants are available for humans, too! Geraniums secrete a scent that drives mosquitos away. Mix a few drops of essential oils (citronella, orange, and rose geranium) into a spray bottle of water. Use this to spray down your legs and arms before any trip outside or to the garden. Not only will you smell good, you'll be a "no bug zone."

Are you looking for ways to save on energy and fuel costs? Start with your travel habits. Cars, even the most energy efficient models, consume mass amounts of gasoline, which has been refined from oil. The amount of energy and pollution that is involved in refining these products would astound you! Be organized and plan trips to the store. Also consider carpooling or using public transit! Your city may have HOV lanes, or high occupancy vehicle lanes. This means if there is more than one person in your car, you get a free pass around the rush hour traffic! If you have a walkable city, use your legs to walk or bike.

On the inside of your home you can save energy by upgrading your appliances. Newer Energy Star appliances use a fraction of the energy that their older counterparts did. You'll be surprised how much your electric bill drops in the first month!

Keep your home and yard cool for years to come by planting shade trees. Trees give our environment so much. They deliver loads of oxygen, all while consuming our nasty carbon dioxide. They help to reduce global warming with this effect! And of course, the give us shade to enjoy those evening glasses of iced tea.

Little habits add up to big change. Don't be too hard on yourself. Every day is a new day. Pick one thing to change today. Pick another next week and start a new habit.

Carla Hill, Realty Times  Published 6/21/11

Here's an interesting article on open houses for both buyers and sellers. As always, please give me a call if you're interested in selling your home. Let's discuss how my innovative marketing strategies can work for you to get your home SOLD!

Open House: Live From (Name Your City)

by Broderick Perkins

The open house is the original reality show. Sellers get to sing the phrases of a home they've loved. Potential buyers get to dream in real time, in the very same space they may one day occupy.

The grand prize is a cornerstone of the American Dream. Homeownership.

But it's not just a game for sellers and buyers currently in the market. Being a looky loo is acceptable, advantageous and well-advised. If you know you will one day sell, you should also get in on the game to examine the competition to level the playing field long before you list your property for sale.

Here's why you really do need to keep up with the Joneses and how to do so at an open house.

• Get home improvement clues. You want your home to be as contemporary as the competition, without over doing it. If they've upgraded their kitchens you'll be wise to follow suit. Conversely, if no one has added a swimming pool, you don't want to take the plunge either.

• Spying can be good for your decor. If you live in a neighborhood where many homes have similar floorplans you can lift lessons in furniture arrangement, color and pattern use, lighting, accessories, what improvements and additions work and what doesn't work.

• You can vet a real estate agent. And open house allows you to see an agent with his or her boots on the ground. You want to see the agent sell the home she or he is hosting, not pushing his or her other listings -- unless, of course, the potential buyers ask for other properties. In addition to check an agent's work skills, it's also an opportunity to check his or her personality to determine if you can work together.

• Make sure your price is right. Open house events include fliers and other printed materials that describe the home and include its price. You can use them to collect comparables. Public records may not be up to date, leaving out improvements, the seller is happy to reveal to support their price.

• It's an opportunity to get a closer look at your neighborhood. If you haven't started a family, you can get some clues about local schools. Neighbors know about crime, proximity to attractions and events and other neighborhood issues you may have overlooked. If you work at home, you may not be aware of commuting conditions and proximity to commute routes.

It's a good idea to reveal you are a looky loo. Sign in along with the real buyers. An experienced agent wants clues about any interest in the property, hopes you will give the listing some word-of-mouth and may even ask for feedback.

Published: June 9, 2011

Turnaround: 4 Months and Counting by Steve Cook, RIS Media

Price declines will end and average U.S. home prices will stabilize by Labor Day. Prices in even the hardest-hit markets will level out by the end of 2012.

That’s the latest prediction from the authoritative Moody’s Analytics and Fiserv, Inc, after an analysis of home price trends in 375 markets tracked by the Fiserv Case-Schiller Indexes.

Fiserv reports that home prices have fallen so far that they are at pre-bubble levels, creating affordable housing relative to income which, coupled with a slowly improving economy, will finally end price declines.

The slide in home prices has greatly improved home affordability. Relative to household income, affordability is at or close to pre-bubble levels in nearly every metro area across the U.S. This dynamic, combined with growing economic strength, leads Fiserv and Moody’s Analytics to project that average U.S. home prices will stabilize in the third quarter of this year. By the end of 2012, home prices in even the hardest-hit housing markets will level out.

However, while Fiserv and Moody’s project the national U.S. home price average will stabilize in the third quarter of 2011, a 3 percent decline is expected in the first half of this year.

“The first step toward restoring confidence in housing markets is an improvement in consumer sentiment, which we expect will increase slowly through 2011 due to stronger job gains and a falling unemployment rate,” says David Stiff, chief economist, Fiserv. “As confidence rises, the decline in home sales that started in 2006 will, finally, come to an end.”

Even as balance returns to the housing market, Fiserv Case-Shiller data forecasts the pace of recovery will be uneven across U.S. metro areas.

“Many metro areas have vast inventories of vacant homes, a consequence of both over-building during the bubble and high rates of foreclosure,” says Stiff. “New data from the 2010 U.S. Census provide estimates of the depth of the overhang of vacant homes in some markets. Between the 2000 and 2010 Censuses, the overall U.S. housing vacancy rate increased by 2.4 percentage points. In metro areas with the largest price bubbles and crashes, housing vacancy rates have jumped by 3 to 7 percentage points.”

The most stressed U.S. housing markets are characterized by unemployment rates that exceed the national average and high housing vacancy rates. Examples include Detroit, Las Vegas and Orlando, where unemployment tops 10 percent and vacancy rates are above 15 percent. Stiff noted the feedback loop that continues to exert downward pressure on home prices in these markets:

“Economic growth in these markets was highly dependent on residential real estate from 2002 to 2006, with many new jobs tied directly or indirectly to booming housing markets. When the bubble popped, these markets suffered the largest job losses. Rapidly falling employment undercut housing demand, causing home price depreciation to accelerate, leading to more job losses in residential real estate.”

The markets that escaped this dynamic are better positioned for more robust recoveries. Examples include Dallas, Milwaukee, Houston, New York, Baltimore and Pittsburgh. Stiff notes that while many of these metro areas did experience double-digit home price declines, their economic growth was more balanced during the boom years, relying less on residential construction. Today, these markets benefit from relatively lower housing vacancy and unemployment rates.

 Published 5/16/11

You need an inspection on any property you are buying, regardless if it's old or new construction. An inspection is like a check-up for your house. What repairs will need to addressed now and what might need to be addressed later down the road? This is what you have answered during an inspection. Having an inspection done prior to signing a contract allows you to negotiate your findings into the deal. Does the roof need replaced? The seller may give an allowance to pay for the repairs. If you don't ask, you'll never know!

Perhaps you've fallen in love with a fixer-upper and are dreaming of doing the repairs yourself. If the inspection discovers hidden damage and costs, you'll be given the option to keep looking for a more suitable house. Keep in mind, however, that simply because a house needs repairs doesn't mean you shouldn't purchase it. Nearly every house will have a list of repairs that need to be done to get it "shipshape." It is your decision to choose how much you are willing to spend and how much work you are willing to do.

A home inspection varies depending on what type of property you are interested in. According to the American Society of Home Inspectors (ASHI), "the standard home inspector’s report will cover the condition of the home’s heating system; central air conditioning system (temperature permitting); interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and structural components."

There are limits, however, to what a home inspection will cover. They aren't required to identify conditions that are concealed or are considered latent defects. That means if personal property, plants, snow, or debris is covering an issue, the home inspector isn't require to move those items to inspect it and isn't liable if he misses it. They aren't require to make determinations on systems that aren't readily accessible.

And they aren't required to note the presence of potentially hazardous plants and animals. That includes "wood destroying organisms" or even molds.

This means you should find a home inspector that you trust. The ASHI recommends you choose from their list of licensed professionals. "ASHI members know houses, ensuring that you can find a home inspector. They are trained to objectively communicate to you, the home inspection buyer, what the house has to say. ASHI members have demonstrated technical proficiency and report-writing skills, and they have committed to continuing education in order to achieve and maintain their member status."

Having a trusted inspector means that most every problem that can be identified, will be. And inspection is about peace of mind, and a good inspector gives you that.

Published: April 22, 2011

Homeownership has been part of the American Dream for centuries, and it's no wonder why. It rocks.

First, owning a home is an investment. No, it's not a sure-fire way to get rich-quick. It is a long-term investment. Over the course of many years, even through times of economic upheaval, you can build wealth over time.

An average appreciation rate during normal times is around 6.5 percent a year. That means if you buy a home for $100,000, in just ten years you will have a home that could feasibly sell for around $174,000.

During that time you build equity, as well. Equity is the value of your property minus what you owe. So even if you still owe $60,000 on your home after 10 years, you will now have $114,000 in equity. Many homeowners use this equity to take out loans to use for home improvement projects, such as adding on new additions.

Owning a home also comes with less tangible benefits. Studies have shown that it creates a sense of community, motivating community involvement. And family stability is manifested through higher graduation rates and lower crime rates.

When you own a home, you take control of the creation of your surroundings. You can paint, make updates, and style the home to your liking -- all things not possible with most rentals.

You have even further stability when you have a fixed-rate mortgage. A fixed-rate means your rate will never increase. This means you will know the cost of your mortgage for the life of the loan. There won't be any surprises, which is what caught many homeowners off guard during the sub-prime mess. And there aren't any worries about the cost of rent going up each year. You can budget for life!

Don't forget about those great tax breaks, such as deducting your mortgage interest, and tax credits, such as money back for making energy efficient upgrades!

And of course, just think of all the fun times you can have with your family and friends. Memories will be made that will last a lifetime!

Published: March 29, 2011

Today's market presents some very unique opportunities for buyers. With affordability near record highs and interest rates near record lows, many homeowners are making the decision to move up or on. If you're thinking of selling your home, here are some helpful hints.

1. Curb Appeal: Buyers make snap judgments about each home they view. These judgments are drawn largely from first impressions. Be sure your home has impressive curb appeal. Fresh flowers and mulched beds, along with trimmed hedges and grass are a must. If your home needs a fresh coat of paint, now is the time. And even if your paint or siding is in good repair, consider painting your front door an eye-catching color, such as red or blue.

2. Inspection: An inspection can make or break a deal. Even after they've fallen in love with your house, a buyer may decide foundation issues or faulty electrical are too much of a headache. The benefits of having an inspection done prior to listing can be two-fold. First, your buyers will be aware of what repairs are needed before they make an offer. Second, you can choose to address these repairs and therefore have them removed from the scenario altogether.

3. Repairs: Buyers are turned off by long lists of needed repairs. This goes double for time-consuming and costly repairs, such as roof work or foundation issues. By identifying and addressing the issues, you may be able to yourself save time and money in the long run.

4. Organize Paperwork: There may be contracts or warranties you have on your home that will transfer to a new buyer. These can include appliances, builder warranties, and even contracts with lawn and pool companies there were paid up-front.

5. Talk to your lender: How much new home can you afford? Are you able to sell your home for enough to cover the remaining balance of the loan? These are important questions to get answered prior to listing!

6. Prepare for showings: Staging a home for sale has multiple different layers. First, you should clean and organize. Have carpets cleaned and repaint dirty or loudly colored walls. Next, remove large and bulky furniture, as these make rooms appear smaller. And finally, take down personal pictures, trophies, and memorabilia that could distract the buyer from what they are actually interested in ... your house!

Every seller needs a competitive edge in today's market. By being prepared for selling prior to listing, you can gain an advantage.

 Published: March 10, 2011, Realty Times

Residential listings added during the month reached 1,676, down 10% from the previous January.  The overall residential inventory at month’s end stood at 8,428, representing a 15-month’s supply of available single-family and condominium units. The supply at the end of January 2010 was 7,835 listings, with a similar supply ratio of 14 months. 

Statistics compiled by John Junker, MLS Data Specialist