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Monthly Archives: January 2014

3 Tips To Get The Most Out Of Your Plumbing

Get The Most Out Of Your PlumbingEveryone wants their pipes to last as long as possible, but there are a couple of simple problems that might be sucking the life out of your plumbing. Long-term stress is the enemy when it comes to your water system.

The three most common enemies are high water pressure, mineral-laden hard water, and grease. Avoid these three mistakes, and your water system will last years longer.

Take The Pressure Off Your Pipes

You might enjoy high water pressure when you’re taking a shower, but your pipes aren’t enjoying it at all. Over time, this high pressure stresses your plumbing system and can lead to leaks.

Is your high-pressure shower worth an expensive plumbing leak? To test your water pressure, you’ll have to hire a professional. Proper pressure should be somewhere between forty and eighty pounds per square inch.

To have a plumber reduce your water pressure should cost no more than about three or four hundred dollars. That sounds expensive, but it’s a lot cheaper than a leak.

Soft Water Is Good Water

If your water has a lot of minerals dissolved it, then it’s known as hard water. If you don’t already have a water softener you should consider it, because over time, those minerals will build up in your plumbing.

Eventually this will lead to a leak, so nip the problem in the bud, and look into getting a water softener. A good water softener should cost around five hundred dollars.

Hard water also makes soaps and detergents less effective. Soft water will get your clothes, your dishes, and even your hair cleaner.

Cease The Grease

Don’t ever pour cooking grease down the drain. It might be liquid when you pour it, but after a while, it will cool and solidify in your pipes. This won’t break the plumbing and cause a leak, but it will clog it all up.

The water that goes down afterward won’t do anything to wash away the sticky grease. You don’t want your pipes backing up, trust me. That is one messy problem.

Instead pour your grease into containers and throw it away in the garbage. Even better, go ahead and save it in the pantry and cook with it later.

Indoor plumbing is one of the most convenient technologies we have. So don’t take it for granted. Take care of your plumbing, and get the most out of it.

Avoid excessive water pressure, get a water softener, and don’t pour any grease down the drain. A little care now will go a long way. No one wants to deal with a plumbing leak. They’re expensive and a huge hassle.

 
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Posted by on January 31, 2014 in Around The Home

 

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Case Shiller Price Index Shows Homeowners A Rise In Home Equity

Case Shiller Price Index Shows Homeowners A Rise In Home Equity According to the S&P/Case-Shiller 10 and 20-City Home Price Indices released Tuesday, the U.S. Housing Market is on a roll based on year-over-year increases in average home values, but month-to-month results were mixed.

The 10 and 20-City Home Price Indices showed year-over-year growth of 13.80 and 13.70 percent respectively.

Highlights Include:

  • Dallas, Texas posted its highest rate of annual growth since 2000.
  • Chicago’s average home price rose by 11.00 percent, its highest annual gain since December 1988.
  • The 10 and 20-City Indices posted their best November home prices since 2005.

Top year-over-year gains in home prices included Las Vegas, Nevada at 27.30 percent, San Francisco, California at 23.20 percent, Los Angeles, California at 21.60 percent and San Diego, California at 18.70 percent. Atlanta, Georgia rounds out the top five cities with a year-over-year increase in home prices of 18.50 percent.

The annual readings for the S&P/Case-Shiller 10 and 20-City Housing Market Indices in November suggests that U.S. markets are strong enough to sustain momentum in spite of rising mortgage rates. The month-to-month results show that both indices decreased by an incremental 0.10 percent in November, 2013.

Keeping in mind the traditional slump in home sales during the winter and holiday season, lower month-to-month readings were neither unexpected nor disappointing.

Eight of the nine top cities posting the highest month-to-month growth in home prices were located in the Sun Belt. San Diego, California and Minneapolis, Minnesota home prices remained nearly flat after decreasing in October.

Nine of the 20 cities surveyed posted positive month-to-month growth in home prices. Of the nine cities, only Boston, Massachusetts and Cleveland, Ohio were not located in the Sun Belt.

S&P/ Dow Jones Index Committee Chairman Expects Slower Growth In 2014

David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, noted that November’s month-to-month readings for the 10 and 20-city home price indices indicated that Phoenix, Arizona, Los Angeles California and Las Vegas, Nevada had each posted 20 or more consecutive months of rising home prices.

While positive in his remarks about increasing home prices, Mr. Blitzer also noted that indicators suggested a slower rate of growth during 2014.

This aligns with previously released economic news citing uncertainty about mortgage rates that may continue to rise as the Federal Reserve continues tapering its monthly asset purchases under its quantitative easing program.

The Fed’s FOMC meeting is scheduled to end Wednesday, January 29, at which time the committee’s customary statement will indicate whether or not the Fed’s monthly asset purchases will be reduced from their current level of $75 billion.

On the positive side, Chairman Blitzer said that the low inflation rate (1.50 percent in 2013) and rising home prices are helping homeowners accumulate home equity at a faster pace.

 
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Posted by on January 30, 2014 in Housing Analysis

 

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What’s Your Home’s Real Value?

What's Your Home's Real Value?As a society, it seems like we’ve gotten away from appreciating our homes for their emotional and sentimental worth. Instead, we focus solely on their monetary value. 

An Appraiser Can Estimate A Home’s Monetary Value, But To Gain A True Concept Of Your Home’s Worth, You Must Also Take Into Consideration:

  1. Pride Of Ownership. You don’t buy a pair of Prada shoes because you’re going to be able to resell them and make a profit. You buy them because they make you look good and feel good.
  2. Security And Stability.Your home provides a roof over your head that’s in your control. You can decorate it how you want. You don’t have to worry about a landlord selling the property or asking you to move out. In the “olden days” (or should I say “golden days”), we called our homes our castles because, as owners, we felt like the kings and queens of our homes. You can still feel that way! Claim your castle and crown yourself king or queen today.
  3. A Safe Haven.After a tough day at work or a day of disappointments, where’s the first place you think of going?  Home! As Dorothy says, “There’s no place like home.”
  4. A Place To Make Memories.  Your son’s tree house and daughter’s playhouse. The markings on the wall that tracked your children’s growth. The porch swing where you start and end every anniversary celebration.    
  5. A Neighborhood Full Of Friends. In the event of an emergency, your neighbors are your first line of defense. They’re also the simplest, best and least expensive form of security. Additionally, they may have the exact tool you need for a project; the extra pair of hands you need to complete a project or children to become playmates with yours. Neighbors also give you that much needed in-person, up-close social network.

Even if your home’s economic value has dropped, you continue to benefit from its emotional values of community, stability, security and success.

Thinking of buying a home? I can help you evaluate the emotional and monetary worth of homes and find a home that fits your values and lifestyle. Give your trusted real estate professional a call today.

 
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Posted by on January 29, 2014 in Home Seller Tips

 

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Existing Home Sales Reach Highest Level In 7 Years

Existing Home Sales Reach Highest Level In 7 YearsThe NAR provided great year-end news as existing home sales in December pushed 2013 sales of existing homes to a 7 year high. December’s reading of 4.86 sales of pre-owned homes came in at 4.87 million on a seasonally adjusted annual basis.

Although projections had been for 4.89 million sales, the December reading topped November’s revised sales of 4.82 million pre-owned homes.

December’s reading showed the first gain in existing home sales in three months. NAR reported that existing home sales for 2013 reached 5.09 million, which represented a 9.10 percent increase over 2012.

More Good News: Median Price Of Existing Homes Rises

NAR reported that the national median price for pre-owned homes increased to $198,000, a year-over-year increase of 9.90 percent. The average price of an existing home for all of 2013 was $197,100. This was the strongest growth in existing home prices since 2005 and represented an increase of 11.50 percent.

There were 1.86 million pre-owned homes for sale in December. At current sales rates, this represents a 4.60 month inventory. Real estate pros like to see a minimum of a six-month supply of available homes, so existing homes remain in short supply.

Analysts attributed rising home prices to improving economic conditions and a persistent shortage of homes for sale.

FHFA: Slower Gain for Home Prices In November

FHFA, the agency that oversees Fannie Mae and Freddie Mac, reported that November prices of homes financed with mortgages owned or guaranteed by the two agencies rose by a seasonally adjusted 0.10 percent as compared to October’s increase of 0.50 percent and an expected growth rate of 0.40 percent.

November’s reading brought year-over-year home sales to an increase of 7.60 percent, but is still 8.90 percent below their April 2007 peak.

Analysts noted that recent reports of increasing new home construction and rising new home sales as reasons why prices of existing homes are seeing slower growth.

 
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Posted by on January 28, 2014 in Housing Analysis

 

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What’s Ahead For Mortgage Rates This Week – January 27, 2014

What’s Ahead For Mortgage Rates This Week – January 27, 2014Last week was an action-packed week for economic news, and all of it was packed into Thursday:

Weekly Jobless claims came in at 326,000 which was lower than the expected 330,000 new claims. This week’s claims were higher than the prior week’s 325,000 new jobless claims filed.

The NAR released its Existing Home Sales Report for December; sales of existing homes sold at a seasonally adjusted annual rate of 4.86 million.

December’s reading fell shy of estimates of 490 million existing home sales, but the estimate was based on November sales that were later adjusted downward to 4.82 million sales of existing homes. Existing home sales for 2013 came in at 5.09 million sales, a 9.10 percent increase over 2012 sales.

The median price of a pre-existing home reached $198,000 in December, with the median price for all of 2013 at $197,100, which was an increase of 11.50 percent over the average price for an existing home in 2012.

Pent-up demand and a lingering shortage of available homes likely contributed to last year’s rapid rise in home prices.

Mortgage Rates Mixed, FHFA Reports Slower Gain For Home Prices

Freddie Mac reported mixed results for average mortgage rates in its weekly PMMS report. The rate for a 30-year fixed rate mortgage fell from last week’s 4.41 to 4.39 percent.

The average rate for a 15-year mortgage dipped by one basis point to 3.44 percent; discount points for both 30 and 15-year mortgages were unchanged at 0.70 percent.

The average rate for a 5/1 adjustable rate mortgage rose from 3.10 to 3.15 percent with discount points unchanged at 0.50 percent.

FHFA, the agency that oversees Fannie Mae and Freddie Mac, released its Home Price report for November 2012. This report is based on information gathered about homes with mortgages owned or backed by the two firms. According to FHFA, home prices increased by 7.60 percent year-over-year.

Home prices moved up by 0.10 percent in November as compared to a rate of 0.50 percent in October.

Leading Economic Indicators Suggest Economy Strengthening

The Leading Economic Indicators report for December moved up by 0.10 percent, which pushed the index to a reading of 99.4. December’s reading represented the sixth consecutive month that the index gained ground.

Economists associated with the LEI report note that while steady growth is expected during the spring, the economy will likely encounter a few obstacles including rising interest rates and possible political gridlock over raising the national debt ceiling.

This Week

This week’s economic news is set to include New Home Sales, the Consumer Confidence Index, and Weekly Jobless Claims. Freddie Mac’s PMMS mortgage rates and reports on consumer spending and consumer sentiment round out the week’s news.

The FOMC statement expected after the committee concludes its meeting on Wednesday is expected to provide news of the Fed’s plan for further tapering of its quantitative easing program.

 
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Posted by on January 27, 2014 in Mortgage Rates

 

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Inspect And Maintain Your Garage

Inspect And Maintain Your GarageIn most parts of the country, garages are especially appreciated at this time of year. Even if you don’t live in a colder climate, it’s important to do an annual inspection and routine maintenance to keep everything in working order.

Make sure yours is doing its job well by following the care tips below.

Check The Tracks

You’ll want to make sure the garage door can go up and down smoothly. Get your leaf blower and blow any cobwebs, bugs or leaves from the track.

With older doors, you’ll also need to oil the metal rollers, hinges and tracks in order to keep everything moving easily.

Inspect For Pests

This time of year, pests are searching for a warm place to take shelter and find food. Look along the walls where they meet the foundation and double-check any spots where you’ve had moisture problems.

If you see chewed wood or trails of sawdust, call an exterminator because they could be signs of termites or carpenter ants.

Insulate Your Garage

If you have a workshop or gym located out in the garage, then insulating this space is a must for colder climates. Not only will it make your home warmer, but also it will reduce your electricity bills. You can buy DIY kits for under $100.

However, be careful if your door is over nine feet wide, because the extra weight can be too much for some opening mechanisms.

Spend Time On The Floor

Don’t actually get down on the floor, but definitely give it some care. Move everything out and hose down the entire surface. Patch any gaps to prevent tripping. Then give the foundation a good inspection.

If you notice mold or major cracks, call a contractor to come take a look and see if you have settling or water drainage issues.

Consider Replacing The Doors

You’ll know it’s time to replace your door when the panels are rusted and scratched or there are wooden ones that are warped. There are many decent replacement options, including wood, steel or aluminum.

The prices can range from high to reasonable depending on the quality of the material. If you decide to do a replacement, talk to an expert and take your climate into account.

 
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Posted by on January 24, 2014 in Around The Home

 

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Top 10 Indoor Houseplants For Your Air Quality

Top 10 Indoor Houseplants For Your Air QualityHouseplants are great for decorating. They can brighten up any room. Plus, houseplants can increase the air quality in a room. That makes you happier, healthier and reduces stress.

Speaking of stress, these plants won’t create any at all. All of the plants on this list are great at producing oxygen and require very little care.

10. Heartleaf Philodendron

A tough plant that’s a good filter for toxins like formaldehyde, Heartleaf Philodendron makes a great houseplant. The only downside is that it’s toxic to eat, so it may not be the best choice for those with kids or pets. But if you can control your appetite, the Heartleaf Philodendron is an excellent indoor houseplant for air quality.

9. Snake Plant

Also called Mother-in-Law’s Tongue, the Snake plant thrives in the bathroom. It loves the steamy conditions and can do without much light. It’s a great air filter as well.

8. Bamboo Palm

It thrives indoors and requires little maintenance. The Bamboo Palm even produces flowers and berries.

7. Red-edged Dracaena

Another great air filter, the Red-edged Dracaena is interesting because of its size. It can grow all the way to the ceiling. This beast of an oxygen-producing plant makes a great addition to the living room.

6. Chinese Evergreen

This is one of the prettier options. With interesting leaf colorings as well as berries and blooms, the Chinese Evergreen will contribute to your décor as well as your air quality.

5. Peace Lily

The Peace Lily only needs water about once a week. This is a great houseplant for air quality, and it’s easy to care for.

4. Devil’s Ivy

This air purifier looks great in a basket. Try hanging it in the garage.

3. English Ivy

English Ivy is an excellent filter plant. It’s been shown to filter out formaldehyde, which can be found in some cleaning products, and it even filters fecal matter particles (I bet you didn’t even know there were any of those in your house). English Ivy is an invasive species though. It’s fine to keep inside as a houseplant, just make sure it doesn’t end up in the yard.

2. Weeping fig

A type of Ficus, this is a great houseplant for air quality. It’s a bit bigger than the others though. It would fit best in the living room.

1. Spider Plant

The Spider plant is nearly impossible to kill. Even if you’ve been a plant murderer in the past, try this one. It will do wonders for your air quality, and I promise you won’t kill it.

Houseplants have been shown to reduce stress in the home. Combine that with higher air quality and your quality of life can be greatly improved with the help of a new green friend.

Even if you don’t have a green thumb, you can take care of these. These are great houseplants for air quality.

 
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Posted by on January 23, 2014 in Around The Home

 

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