| | Mon, 12 May 2008 13:52:36 PDT | | RISMEDIA, May 13, 2008-Barbara Corcoran has built her career on knowing where people will live even before they know it themselves. In NEXTVILLE: Amazing Places to Live the Rest of Your Life (Springboard Press; April 29, 2008), she turns her incomparable real estate eye on Baby Boomers planning for retirement and predicts “the next big things” in real estate for that enormous demographic.
Where, and maybe even more importantly, how do you want to live once you’ve escaped the 9-to-5 grind? In NEXTVILLE, Corcoran identifies the top eight trends that are changing where and how Boomers are retiring. She also helps you to figure out what’s most important in your next place - whether it’s pursuing your passions, living green, finding community, living young in a city or college town, or even staying right in your hometown. She considers how Boomers, healthier and wealthier than their parents at retirement, are generally not interested in traditional retirement locations and offers a look into the places that will make all types of personalities happy for the next phase of their lives. Along the way, Corcoran delivers her invaluable “Barb’s Rules” for choosing real estate.
Barbara Corcoran founded the successful Corcoran Group real estate company and served as CEO until she sold it in 2005. She is currently the real estate contributor to NBC’s Today Show, writes a weekly column for the New York Daily News and will be the host of CNBC’s upcoming “The Millionaire Broker with Barbara Corcoran.” She is the author of the national bestseller Use What You’ve Got.
Warren Berger has written for Wired and the New York Times and is the author of several books on the subjects of lifestyle, design and advertising.
Barb’s Ten Rules to Live Happily Ever After
1. Forget Florida. I’m not just talking Florida here. I’m talking about conventional retirement, in the usual ways and the usual places. Remember that the only worthy goal is to find what suits you, not your parents.
2. Think outside the hammock. You can rest when you’re dead. Your second act should be about doing, not just relaxing.
3. Choose people over palm trees. Palm trees make lousy conversationalists. When it comes to your next place, the people who surround you will make or break the experience.
4. Think passions, not pastimes. A pastime is something you do to fill your time. A passion is something you do to fill your soul.
5. Turn back the clock. Head for a place that allows you to be young again.
6. Release your inner good guy. Find a way to help others in your new community. It’s the single best way to help yourself.
7. No place is too far away. Be willing to stray. You have the courage and the know-how to go anywhere and make a home there if you like.
8. Be willing to stay. If your current home is your idea of paradise, then put away the suitcases-you’re already in Nextville. But decide to make it new again and truly make it (and your life) better.
9. Take a test drive. Live in a new place temporarily or plan lots of visits. Don’t trust what anyone, including me, tells you about the place. Snoop around.
10. Life is short. There’s no time for regrets. Be adventurous. Be happy. Live your dream.
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| | Fri, 09 May 2008 13:46:21 PDT | | RISMEDIA, May 12, 2008-Demand for apartment homes remains strong, but the continued credit crunch is causing the volume of property sales to slow sharply and making it more difficult for apartment firms to access the debt and equity markets, according to the National Multi Housing Council’s (NMHC) Quarterly Survey of Apartment Market Conditions.
The Market Tightness Index, which measures changes in occupancy rates and/or rents, rose significantly from 33 in January to 44, as more respondents reported tighter conditions–and fewer reported looser conditions–than three months earlier. While this reading is still below 50, it is not much below, and comes on the heels of 16 consecutive quarters of over-50 readings. (For all four of the survey indexes, a reading above 50 indicates that, on balance, conditions are improving; a reading below 50 indicates that conditions are worsening; and a reading of 50 indicates that conditions are unchanged.)
It is also a sign that the “shadow market” of rental homes being offered by individuals no longer able to afford to live in them is not seriously eroding demand for professionally managed apartments.
“The bursting of the for-sale housing bubble has greatly slowed the outflow of renters into ownership,” noted Mark Obrinsky, NMHC Chief Economist. “More than 80 percent of the survey respondents reported a decrease in the number of renters leaving to become homeowners.”
“Even though there has been an increase in the number of condo and single-family rentals, these properties do not typically compete for the same renters as professionally managed apartments,” explained Obrinsky. “In fact, professionally managed properties may become even more desirable in the current market as renters of many of these individually owned condos and houses find themselves without housing because the owners of these properties have lost the property to foreclosure.”
The housing market downturn and financial market dislocation are affecting multifamily financing, and thus, the volume of apartment property sales, however.
The Debt Financing Index posted a sharp fall, to 22 from 45 in January. Two-thirds of respondents noted that borrowing conditions had worsened compared with three months earlier, a reflection of the continued widening of spreads and tightening of credit standards.
Equity financing is also increasingly difficult to obtain. The Equity Financing Index declined to 13, its lowest reading ever. A record 76 percent of respondents reported that equity finance was less available, compared with 17 percent who indicated conditions were unchanged, and two percent who saw improvements.
The Sales Volume Index declined to 13 this quarter, the second lowest reading in the NMHC Survey’s history. This marks the 10th straight quarter where the index was under 50. Three-fourths of the respondents said sales volume was lower than three months before, while only one percent said it was higher.
“While there are still many buyers looking to purchase apartment properties,” said Obrinsky, “there is an unusually wide disparity between buyers and sellers about the appropriate prices in today’s market. In addition, even though investors remain committed to deploying considerable equity capital in the apartment sector, tighter credit makes it harder to hit target rates of return. The upshot is the current low level of transactions.”
Full survey results are posted at http://www.nmhc.org/goto/QuarterlySurvey08.
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| | Fri, 09 May 2008 13:41:46 PDT | | RISMEDIA, May 12, 2008-There were 2,135 home closings reported for the month of April, according to figures provided the Greater Nashville Association of Realtors®. This represents a decrease of 28.5 percent from the 2,989 closings reported for April 2007.
Year-to-date closings are down compared to last year with 7,898. That is a 28 percent decrease compared to the 10,979 closings reported through April 2007.
 “While home sales are down, the decrease is running on par with previous months. That means the Greater Nashville market is performing with some consistency, even in these times of change. That can work to the advantage of buyers and sellers because they can adapt to the changes and, with the help of a real estate professional, make educated decisions,” said GNAR President Mandy Wachtler. “At this time, Nashville home sales are comparable to 2001, which is much better than some markets around the country which are experiencing home sales and prices comparable to what they had 15 or 20 years ago.”
A comparison of sales by category for April is:
| |
April 2007 |
April 2008 |
| CLOSINGS |
2,989 |
2,135 |
| Residential |
2,389 |
1,713 |
| Condominium |
352 |
281 |
| Multi-Family |
38 |
27 |
| Farms/Lands/Lots |
210 |
114 |
There were 2,342 sales pending at the end of the month, compared to the 3,339 pending sales at this time last year. The average number of days on the market for a single-family home was 80 days.
The median residential price for a single-family home during April was $180,000 and for a condominium it was $162,000. This compares with last year’s median residential and condominium prices of $177,900 and $163,900, respectively.
Inventory at the end of April was 24,670, up from 20,129 in 2007. The current inventory of properties by category, compared to last year, is:
| |
April 2007 |
April 2008 |
| INVENTORY |
20,129 |
24,670 |
| Residential |
13,638 |
15,741 |
| Condominium |
2,241 |
2,602 |
| Multi-Family |
318 |
391 |
| Farms/Lands/Lots |
3,932 |
5,936 |
“With inventory at the highest level in our history, the value of a Realtor becomes even more important,” Wachtler added. “Realtors can use their experience and training to help those they represent adjust to market conditions. Whether you are buying, selling or leasing property, a Realtor’s professionalism and understanding can help make the most of a challenging real estate market.”
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| | Fri, 09 May 2008 13:31:52 PDT | | By Karen Youso
RISMEDIA, May 12, 2008-(MCT)-Odors, unless caused by pets or mildew, have to do with how the rug was made. Typically, odors occur when rugs are made by punching fibers into a latex backing, sometimes called hand-tufted. It’s the type of latex used that causes the odor, which is sometimes described as a burning rubber smell, moldy or acrid. It can start within weeks or over time. Odors can become more noticeable with high humidity or when there’s less air movement in a room. Cleaning or treating the rug won’t help. It’s best to move on.
If it isn’t a punched rug, however, cleaning may solve the problem. A rug cleaner can help you identify the type of rug and determine whether it’s better to clean it or throw it away. But don’t invest in cleaning if the rug is punched unless the cleaner will guarantee odor elimination.
The next time you buy a rug:
- Learn about the different types of area rugs: hand-knotted, hand-tufted, machine-made, etc. Although not all machine-made or hand-tufted rugs will have odor problems, they are more likely to cause problems.
- Buy from a reputable company or store, one that will be around if you should have problems. Carefully review the company’s return policy.
- Keep copies of sales slips and all materials that come with the rug purchase.
- Be careful when buying secondhand rugs, especially those you can’t “nose test,” such as from online sites such as eBay or Craigslist. What seems like a good deal may not be.
(Includes information from Keljik’s Oriental Rugs in Minneapolis.)
© 2008, Star Tribune (Minneapolis)
Distributed by McClatchy-Tribune Information Services.
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| | Fri, 09 May 2008 13:30:24 PDT | | By Jack Hagel
RISMEDIA, May 12, 2008-(MCT)-Renting a washer and dryer at The Waterford apartments in Morrisville costs $10 more per month than it did in 2005. The same goes for a room with a view at Bennington Woods in Cary. Monthly rent for some units at Northampton Plaza in Chapel Hill have grown 20 percent to $892. And keeping Fido at Durham’s Forest Pointe, once a freebie, now costs at least $250 in pet fees.
Rising demand in recent years emboldened Triangle apartment landlords — many jacked up rents and fees while offering fewer giveaways.
But the tables could be turning as a crush of new apartments hits the market and job growth slows .
“We’re starting to see adjustments that could put money into the pocket of the renter,” said Brian Reece, a partner at Karnes Research, which collects data for the Triangle Apartment Association.
Companies are delaying or reducing expansions, even in the Triangle, which has avoided the brunt of national economic woes.
The Triangle labor force is growing at its slowest pace since 2003 — 1.5 percent, to 848,097, during the 12 months that ended March 31, state labor data show.
During that period, 3,647 new units became available — the most in any year since 2002, apartment association data show.
Another bit of foreshadowing: The region’s apartment vacancy rate is climbing for the first time in six years. At least 9.2 percent of the region’s 91,800 apartments were empty at the end of March, up from an eight-year-low of 7.8 percent a year earlier.
Meanwhile, 3,687 units are being built, in addition to a growing number of unsold homes that are moving to the rental market.
“Jobs are down somewhat, and that really drives apartment demand,” said Tom Barker, a senior managing director at Trammell Crow Residential, which is building the 288-unit Alexan Panther Creek community in Cary.
For the past three years, demand hasn’t been a problem. With legions of renters, landlords were able to push rents 6 percent to a record $804.
Lessors took control
The number of landlords offering perks such as free months of rent, DVD players, iPods and even vacations to entice renters has dwindled, to 33 percent from 79 percent in that period.
Now it’s taking longer to lease properties, and concessions are creeping up, Barker said.
“There aren’t as many people out there renting,” he said. “There’s just a lot of units, and that’s making the landlords be more competitive.”
The scenario isn’t foreign to Triangle landlords.
The region’s apartment market flopped in the early 2000s after tech companies cut jobs, slowing the flow of renters amid a building boom. Home loans became less expensive, enabling more renters to buy homes.
The apartment vacancy rate rose to 13 percent in March 2002, and landlords slashed rates, offered free months of rent and played up perks such as workout rooms, washers and dryers and free utilities.
The market has tightened in recent years, because developers showed discipline during a time of rampant job growth. All the while, newcomers couldn’t sell homes they owned in cities where the housing bubble had burst. That goosed local demand for rental properties.
The housing bust — and tight lending environment that has emerged in its wake — could be working in landlords’ favor.
“You’ve got people who are moving out of houses and moving back into apartments. And renters are staying in apartments longer because they have less confidence in their economic status going forward,” said Jere Buch, executive director of multifamily management at Drucker & Falk, the Triangle’s biggest apartment management company. “They don’t want to commit to a mortgage or can’t commit to a mortgage.
“Despite a little bit of increase in supply, I think demand will hold up,” he said, predicting that concessions will continue to dwindle.
Builders hold off
Developers, meanwhile, are showing signs of caution.
Some are delaying land purchases, and others are delaying construction.
There were 7,123 units on the drawing board at the end of March, according to the apartment association.
Projects that haven’t begun might not, as lenders tighten standards by raising borrowing costs and requiring developers to pay more equity into projects.
“A few years ago, money was very easy to come by,” said David Ravin, president of Crosland, a Charlotte company that is building at least 612 apartments in communities in Cary, Chapel Hill and Raleigh. “But the money has been cut off. I don’t predict many — if any — new starts.
“And while we might have a bubble here to get over, there’s going to be a slowdown in supply.”
Copyright © 2008, The News & Observer, Raleigh, N.C.
Distributed by McClatchy-Tribune Information Services.
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| | Thu, 08 May 2008 13:42:41 PDT | | By Kathleen Lynn
RISMEDIA, May 9, 2008-(MCT)-Business people hate to turn away clients. But in the current housing cycle, some real estate agents say that’s exactly what they have to do when a home seller won’t get real about the asking price.
Margrit Vogler of Margrit Vogler Properties in Oradell, N.J., said she turned down three or four potential listings last year for this reason.
“I can’t spend money advertising something I know I can’t sell,” Vogler said. “It’s not worth it to me. Advertising is way too expensive.”
When sellers insist on a high listing price, Vogler tells them: “I don’t want to disappoint you. I know what the market value of your house is, and I’m not interested in disappointing you and not getting the job done.”
Barbara Colella of Prominent Properties Sotheby’s International Realty in Saddle River, N.J., said she recently turned down a prospective client who wanted an unrealistic price. With properties selling at a slower pace, she doesn’t want to invest a lot of time and advertising dollars on one that’s overpriced.
“If I have to show that house 165 times before I get an offer, that’s 164 times I could have been doing something else,” she said.
Sellers tend to rely on agents to set their price, according to the 2007 National Association of Realtors profile of buyers and sellers. When asked what they want most from real estate agents, 16% of recent sellers said they wanted help in pricing the home competitively, the NAR found.
Like many Realtors, Margie Behr of Burgdorff ERA in Hillsdale, N.J., said that rather than turn down a listing, she’ll work hard to persuade sellers to price the house correctly, by showing them the sale prices of comparable houses.
Sometimes that means they get news they don’t want to hear. Two years ago, for example, she did a market comparison for a couple thinking of selling. At that time, she valued their house at $569,000. They weren’t ready to sell then, but they recently came back to her because they are ready now. In today’s softer market, she suggested listing the house at $539,000. The sellers’ reaction: “Are you kidding me?”
Mark DeLuca of Mark DeLuca Real Estate in New Jersey said that when considering whether to take a listing, his agents look at the seller’s motivation.
A seller who wants to list his house at a high price to test the market? Not interested. But truly motivated sellers-who have been transferred or are facing a divorce, for example- are good prospects, even if they start out expecting a high price.
“If a seller has unrealistic pricing, that’s not necessarily fatal to a transaction. It may be fatal to an immediate transaction,” DeLuca said.
Soon enough, the market will tell these sellers that the price is too high. “You allow the buying public to tell them, ‘No, we’re not going to buy your house at that price,’” DeLuca said.
© 2008, North Jersey Media Group Inc.
Distributed by McClatchy-Tribune Information Services.
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| | Thu, 08 May 2008 13:40:54 PDT | | RISMEDIA, May 9, 2008-The Robertson Douglas Group, one of the Jersey Shore’s premier custom home builders, has selected Diane Turton, Realtors as the listing agent for Hoffman’s Marina, an elegant enclave of town homes in Brielle, New Jersey.
Prospective buyers can now tour a furnished model at RiverVue, which is on the Manasquan River, and see the 14 town homes that have a waterside, Nantucket-style cedar-shake exterior. Diane Turton, Realtors recently hosted an open house for real estate brokers. Attendees were very impressed by the quality, charm and pricing of these spectacular homes.
These hand-crafted homes range in size from 2,080 to 2,400 square feet, and have three levels with spacious floor plans. Many of the homes were completed last month and the remainder will be ready by early June.
 Designed and constructed by the Robertson Douglas Group, RiverVue was created for adults who want impeccable and distinctive new homes. They are ideal for those who are rightsizing to a more leisured lifestyle, and for boat enthusiasts seeking a deepwater mooring and pied-à-terre near the ocean.
Available in five models, the town homes are priced from $675,000 for a partial water view and from $1,150,000 to $1,350,000 for a full waterfront view. Each residence has a similar layout that includes two generous bedrooms, a media room that can be converted into a bedroom and 3.5 baths. Master bath has a separate shower and a Jacuzzi or soaking tub.
While the community has been created mostly for young-at-heart adults who are 55 years old or more, three homes have been set aside for 48 year-olds who a want relaxed and carefree lifestyle.
“RiverVue is a tranquil shore community for homeowners who have reached the pinnacle of success,” said Jeff Dobrzynski, who founded the Robertson Douglas Group, which has built many of the best custom homes in the Spring Lake area.
Solidly built with the best amenities, this is a home to love at first sight. Begin the tour at the terrace level that features a media room with an optional built-in wet bar. On this level, there is also a full bath and patio as well as a laundry area and garage. Take the hydraulic elevator up one flight to the main living area, which has a bright and fully-equipped kitchen with luxury appliances. This level also has a balcony, breakfast and dining room, a powder room and a grand gathering space. The upper-level retreat houses the master bedroom suite with a private balcony and large walk-in closet. A guest bedroom with a private bath is also on this floor.
“The community provides a waterfront lifestyle that appeals to boaters, sport fishermen and anyone who loves the water,” said Barbara Furdyna, sales associate who is spearheading the project for Diane Turton, Realtors.
RiverVue’s Marina provides a fascinating, ever changing outlook. The communal observation deck has incredible views out to the Atlantic and is a great spot to sightsee and socialize. Homeowners can rent one of the 50-plus boat slips that can berth power or sailing vessels up to 80 feet in length.
Furdyna and her associate, Nita Rose, are available to meet real estate brokers and home buyers at RiverVue. The model is open on weekends from 1 to 5 p.m. and by appointment. Beginning in May, the schedule will expand to Monday through Friday during the same hours.
For more information, contact Barbara Furdyna at 1-866-DTurton or by e-mail at signatureproperties@dianeturton.com.
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| | Thu, 08 May 2008 13:20:42 PDT | | By Alan J. Heavens
RISMEDIA, May 9, 2008-(MCT)-Interlocking concrete pavers make it possible for even first-time do-it-yourselfers to install patios and walkways. Concrete is more malleable than brick or stone, so it’s easier to cut and fit. But even if you hire a contractor, having some knowledge of the basics beforehand will help ensure that you get your money’s worth. Here are some points to consider, assembled with help from the Interlocking Concrete Paver Institute.
Tool box: For most projects, you’ll need a 25-foot tape measure, a 4-foot level to check that the pavers in each row are even, safety glasses, a spade to prepare the surface, canvas gloves, and a push broom to spread filler sand between the pavers.
Need to know: The basic design of your patio or walkway will dictate both the number of pavers and the number of edging pavers you need to buy. Make a rudimentary sketch of what you have in mind and take it with you to the home center. Figure out how many pavers fit in 1 square foot (the staff will help you). Multiply that number by the total square footage of the space to be covered, then add 5% as a margin for error (you’ll want to buy extras).
Prime example: Say four octagonal pavers equal 1 square foot. For a 100-square-foot patio, you’ll need 400 pavers, plus 20 extras. To get the number of edgers, add the lengths of the sides being edged; divide by the length of one edger.
Base camp: You’ll also need to buy gravel (also called aggregate) and concrete sand, to lay a base for the pavers. For the base of that 100-square-foot patio, for instance, you would lay down 4 inches of gravel for drainage and 1 inch of concrete sand. Cover with a layer of roofing paper or landscaping felt, to prevent weed growth, then top with 2 more inches of concrete sand for paver bedding.
To calculate the amount needed, multiply the required depth of each material by the square footage of the project; add 5% of the total. Gravel and bedding sand are sold by the ton; for 100 square feet, figure 2 tons of gravel and 1½ tons of bedding sand. You’ll also use bedding sand as filler between the pavers, but that amount is tougher to estimate. You may end up back at the store.
Getting started: You’ll need to remove grass, dirt and so forth to a depth that will accommodate the gravel and the sand bed beneath the pavers, also allowing for the thickness of the pavers themselves. Excavate an extra 6 inches wider on each side, to accommodate the edgers.
Don’t do this: Surface preparation is critical, so don’t attempt to prep and install the pavers in the same weekend. For proper water runoff, a drop of ¼ inch for every foot of bedding surface is advised.
Bad advice: “Put the edge pavers in first, then lay the inside pavers.” Instead, find the center of your space first, then lay the pavers out to the perimeter, so any needed cuts are made up against the edge.
Good advice: To cut pavers, use a rubber mallet and a cold chisel (not a woodworking chisel) made from high-carbon steel. Draw a line on the paver with a pencil, then make a scratch (known as scoring) with the edge of the chisel to get the cut started. Place the blade on the scratch mark and strike the chisel. Don’t use a hammer; metal chips might fly.
What will it cost? Interlocking concrete pavers cost 70 cents to $1 each. So if four make a square foot and your project is 100 square feet, the cost will be $280 to $400 (not counting the extra material). Edge pavers cost $1 to $2 each, so 54 for this project would be $54 to $108 (plus the extra). Base materials and filler-sand costs vary widely, as do delivery costs.
© 2008, The Philadelphia Inquirer.
Distributed by McClatchy-Tribune Information Services.
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| | Thu, 08 May 2008 13:18:24 PDT | | By Jerome R. Stockfisch
RISMEDIA, May 9, 2008-(MCT)-A top real estate economist offered shell-shocked Tampa Realtors a hint of optimism Wednesday, saying the Bay area housing market should begin to improve in the second half of the year.
Home sales and prices, which have been battered in recent months, should stabilize and then begin to rise in 2009, predicted Lawrence Yun, chief economist at the National Association of Realtors.
In an hour-long speech before 100 members of the Greater Tampa Association of Realtors, Yun acknowledged that his observations and forecasts are often optimistic. But Yun said there are several economic indicators that point to a recovery for the national and Tampa Bay area housing markets.
“The worst conditions in the Tampa market may have already passed,” Yun said. “How strong will the recovery be? I cannot really say. I think the second half of 2008 will be better. But if I look at the long-term perspective, five years from now, comfortably, one can say home prices in this region will be 20 to 30 percent higher.”
The key to the turnaround will be to get the “fence sitters” into the housing market. Those people, who have the financial means to buy a house, perpetuate the slump “not because of the fundamentals, but because of the psychology,” he said.
In his speech, Yun cited the August 2007 collapse of the subprime mortgage industry as a positive sign. While making up just 9% of mortgages in the United States, subprime vehicles have been involved in 53% of U.S. housing foreclosures, which dragged down the housing market.
Those loan products will steadily be replaced by safer Federal Housing Administration-backed loans, Yun said.
Another seemingly daunting sign-a significant decrease in new housing starts in the Tampa Bay region-is also a good sign, reducing the glut of available homes that has held down prices.
Mortgage rates are at near historic lows, business spending is strong, and corporate profits are up, all good economic signs, he said.
“There’s a change in the mood over the last couple of weeks,” Yun said. “The first three months of the year, everyone was talking about how deep the recession would be.”
Talk of a recession is linked by many consumers with the prospect of job loss, and those consumers become hesitant to make major purchases such as a home, Yun said.
“Fortunately, we’re not in a recession, or at least not yet,” he said. “I don’t think we will go into a recession.”
Gross domestic product for the first quarter of 2008, a key measure of economic performance, was “very soft, but nonetheless positive,” Yun said. He forecasts the second quarter to be “equally soft, but not negative,” with things picking up in the third and fourth quarters.
Yun’s speech was a breath of fresh air for an industry that has been particularly hard-hit in the Tampa Bay area. Local home sales have slid from 2,810 in the first three months of 2007 to 2,079 for the same period this year, according to the local Realtors’ group.
Average residential prices have slipped from $280,339 to $255,485 in the same period.
Copyright © 2008, Tampa Tribune, Fla.
Distributed by McClatchy-Tribune Information Services.
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| | Wed, 07 May 2008 13:46:22 PDT | | Commentary by Errol Samuelson
RISMEDIA, May 8, 2008-When you shop for milk at the grocery store, “best if used by” labels alert you to the age of the product and keep you from buying a quart that’s about to spoil.
 Freshness counts in real estate, too. Whether you end up the owner of the home of your dreams or miss out to somebody using a better real estate site, may depend on whether you’re relying on property listing information that’s past its pull-date.
With dozens of places on the Internet to look for homes, it’s no wonder that four out of five home buyers today rely upon online property listing information. Unfortunately, at most sites consumers have no clue as to how much time has passed since the data they are looking at has been refreshed. Because it’s the Internet, most people assume that information about something as important and expensive as a house is current, and it usually is-but not always.
Some listings are updated only every two weeks or even longer. Most are refreshed once a day, but is that adequate? On average, about 13,600 homes are sold in America every day[1]. Every day thousands of properties go up for sale on the nation’s 900 multiple listing services-databases of property information operated by real estate brokers. Tens of thousands more listings lower their prices to make the properties more attractive to buyers. The newest Internet tools-such as site that provide bi-monthly payment and property valuation tools-are less valuable and potentially misleading unless they deliver current, valid price and listings data. In today’s fast-paced real estate markets, buyers with better and fresher data have a distinct advantage over those that don’t.
Most multiple listing services feed their data at least once a day, but that doesn’t mean the information is making it onto the website you’re using. Most multiple listing services require brokers to enter changes into the MLS within a certain time period, typically within 48 hours of taking the listing. Once in the MLS, which is open only to real estate professionals, the data is distributed widely to brokers’ websites and to national sites where consumers can access it. But thousands of listings come from other sources-newspaper classified ads, other real estate sites, even from property owners themselves. In most cases, there is no way you can tell when the listing you are looking at was last refreshed.
At REALTOR.com, we feel it makes no sense to use Information Age technology to deliver horse-and-buggy data, especially for something as important as buying or selling a home. When consumers look for a home on our site, we want them to be confident they’re looking at the most current listing data available. That’s why one-third of REALTOR.com’s 4.3 million property listings - over 1.55 million homes for sale - are updated at least every 15 minutes during the day from 203 MLS partners, delivering the freshest, most current national selection of real estate listings on the Internet. Just under half a million of our listings are refreshed at least twice daily and virtually all of the site’s listings are refreshed at least once a day. The average listing on REALTOR.com is refreshed about 13 times a day. Soon, we will time stamp every listing on our site-just like a pull-date on a quart of milk-so consumers will know when the listings they’re looking at were last refreshed and be better prepared to negotiate for what perhaps may become their next home.
[1] NAR Existing Home Sales Report February 2008
Errol Samuelson is president of REALTOR.com.
For more information, visit www.Realtor.com.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
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| | Wed, 07 May 2008 13:32:50 PDT | |  By Dan Serra
RISMEDIA, May 8, 2008-(MCT)-Are you the boss in the family when it comes to planning how to manage money? Or do you let your spouse handle everything so you don’t have to worry? (more…) | |
| | Tue, 06 May 2008 13:36:30 PDT | | By Charlyne Varkonyi Schaub
RISMEDIA, May 7, 2008-Everyone is advertising their paints as low VOCs (volatile organic compounds) or no VOCs. But buying green isn’t that easy. Advertising that appears to be eco-friendly can be deceptive. Although the can may say the paint is low in volatile organic compounds, some brands inject a hefty dose of these chemicals when the colorant is added at the store. And low or no VOC paints also can contain suspected carcinogenic ingredients.
The only way to know what you are getting is to read labels carefully, ask probing questions and check whether the product has certification from an organization such as Greenguard or Green Seal.
“The important thing to know is there is no definition of low VOC, no definition for green and no definition for performance,” said Rocky Prior, the creator of Mythic, paint that bills itself as the “first and only high-performance paint that has zero VOCs, zero toxins and is noncarginogenic.” A chemist, he has been in the paint business for 20 years.
“The paint market is very confusing and the big guys don’t want you to be able to sort through all the clutter,” he said.
One way to start sorting through the clutter is to learn the lingo.
Volatile organic compounds (VOCs) are the solvents released into the air as the paint dries, producing that “new-paint smell.” Health and environmental experts warn that this off-gassing harms the ozone layer and can cause watering eyes, headaches, dizziness and other symptoms. Young children, the elderly and those with asthma are particularly susceptible. The Environmental Protection Agency says some of these chemicals contain known or suspected carcinogens.
Consumer Reports Test
Even the experts at Consumer Reports, the go-to folks for unbiased shopping advice, haven’t done much work on the topic. The March issue was the first time the magazine tracked the VOC count, according to Dan DiClerico, senior editor.
Paints with high scores in the magazine’s tests for low luster paints include Benjamin Moore Aura ($55 a gallon), True Value Easy Care ($23 a gallon) and Glidden Evermore ($20 a gallon). DiClerico pointed out that Freshaire Choice ($35-$38 a gallon), which has a powder colorant, and Mythic ($35-$42 a gallon) advertise zero VOCs, but they were not included in the tests.
“Most of the manufacturers we deal with have introduced or are in the process of introducing a low or no VOC line,” DiClerico said. “But that’s where a lot of the confusion rests. What qualifies as low VOC? There really isn’t any standard.”
DiClerico suggested looking on the label for a paint that is below 50 grams per liter. (Remember there are almost 4 liters in a gallon and a room can require up to 2 gallons to cover properly.)
“The VOC count listed is not necessarily the true VOC,” he warned. “VOCs in the colorant are added at the point of purchase. That bumps up the count. We have seen it as high as 150. So you can have a `low VOC’ paint around 50 grams per liter that could actually be in the neighborhood of 200 grams.”
Colorants added by retailers are not regulated by anyone, DiClerico said.
Improved Performance
Eco-friendly paints have been on the market for a decade, but performance reviews were often bad. Colors were dull. Texture was inconsistent. And they didn’t hold up to scuffs and stains. The sheen selection was often limited since it’s easier to have lower VOCs in a low-gloss paint.
But some of the newer paints, such as Benjamin Moore Aura, reportedly are giving better results. Aura, used at this year’s American Red Cross Designers’ Show Houses in Fort Lauderdale and Singer Island, features ColorLock(CQ) technology partnered with a waterborne colorant system that does not add VOCs.
Scotty Rawley of RZ Design Group in Palm Beach created an eco-friendly master bathroom in the Singer Island show house using a recycled glass chandelier, bath products from Publix Greenwise Market and Aura paint.
“The painters loved painting with it,” she said. “It covered well and you didn’t need as much paint. We were quite satisfied with it. There is no reason not to use it. We try to use it in every job. It’s a little bit more expensive, but I think it’s worth it.”
Don’t be ‘Greenwashed’
A paint that has low or no VOCs, may contain potential carcinogens. Check the label for warnings.
Paul Novak of the Green Depot in Newark, N.J., and greendepot.com has been selling green products since 1991. He’s seen a lot of what the industry calls “greenwashing” or making a product appear eco-friendly that isn’t.
“Look at the ingredients,” he said. “What you don’t want to see is polyvinyl acetate, mineral spirits, acetone and things like that. You don’t want anything that is construed as a petrochemical or formaldehyde.”
But that’s not the whole story either. Even natural oils can be toxic to someone who is very chemically sensitive, he said.
Mythic, which has been advertising a lot lately in shelter magazines, has no warning label. It claims to be safe for people, pets and the earth.
“Our paint is different because we were a new paint company that started from ground zero building our formula without any VOCs,” said Prior, the paint’s creator. “We started with a blank piece of paper. Some people are masking the odor with odor masking agents.”
Prior emphasized the importance of investigating the ingredients on the label.
“Some of these companies are so small that no one has caught up with the deception in the labeling,” he said. “But they will-eventually.”
Paints with Low or No Volatile Organic Compounds
Benjamin Moore Aura: benjaminmoore.com.
Green Planet Paints: greenplanetpaints.com.
Serena & Lily: serenaandlily.com.
Mythic: mythicpaint.com.
Olympic Premium: olympic.com.
Sherwin-Williams Harmony: sherwin-williams.com.
BioShield: bioshieldpaint.com and naturespaintstore.com.
Interested in eco-friendly paint? The best advice is to do your homework first. Here are some sources to get you started:
Green Seal: A nonprofit organization that promotes environmentally safe products. See greenseal.org for certified brands or call 202-872-6400.
Greenguard: The Greenguard Environmental Institute is an industry-independent, nonprofit organization that oversees a green certification program. See greenguard.org for certified brands or call 800-427-9681.
© 2008, South Florida Sun-Sentinel.
Distributed by McClatchy-Tribune Information Services.
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| | Mon, 05 May 2008 13:39:32 PDT | | RISMEDIA, May 6, 2008-Sparkway Media and Sokol Media announce their first joint full-length television production, NY Residential TV. The weekly, hour-long show will debut on CW11 at 9 a.m.
Experienced hosts Cathy Hobbs and Jeff Appel bring eager couples, interested viewers, brokers and real estate experts together as they scan all five boroughs of New York City for the perfect home. Location and price all come into play as Hobbs and Appel give tips and tricks of the trade, ranging from the latest trends to current market values on city properties.
With real estate television programming booming, NY Residential TV sets itself apart by catering to a regional market as well as being multi-faceted in ways other shows are not. Aside from traditional house hunting, showcasing properties and open houses, NY Residential TV will also be a program that assists those who have found a home, decorate; those who need to flip a home, renovate; and those who are looking to buy or sell, negotiate. Hobbs and Appel will show viewers how to find foreclosures, as well as the best way to make your new home “green.” In addition the show will include segments on new gadgets, how to “go green,” open houses and new development launch events in the area.
While NY Residential TV can stand on its content alone, Hobbs and Appel bring credibility and charisma to the show. Cathy Hobbs, an Emmy-award winning television journalist and interior designer who was just nominated for this year’s annual DIFFA “Dining by Design” Event perfectly complements Jeff Appel, a real estate industry expert and lecturer. The two bring help and humor together in a way that’s educational and entertaining.
According to the two companies, NY Residential TV will prove to be a powerful medium for sponsors–such as builders, developers, agents and financers–that align with the show’s mission of providing great content while showcasing great properties.
In addition to traditional TV spot ads, NY Residential TV’s real estate and development sponsors will take viewers on guided tours of homes that their companies are offering for sale. This is an innovative and experimental approach to marrying the right advertisers with quality targeted programming.
For more information, visit: NYResidentialTV.com or www.sparkway.com
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| | Fri, 02 May 2008 14:05:49 PDT | | RISMEDIA, May 5, 2008-The average home buyer views at least 10 homes over an eight week search so it isn’t practical to get a professional inspection of every house they tour. FrontDoor.com, a new real estate website powered by HGTV, comes to the rescue pointing out things to look for in your own pre-inspection that will help identify potential problems before calling in the pros.
FrontDoor.com’s Top 10 Red Flags for Home Buyers
1) Mass Exodus from the Neighborhood
Don’t let a home’s curb appeal keep you from glancing down the street. Are there several other homes for sale? Are nearby businesses boarded up or vandalized? Get the scoop from the neighbors. If everyone else wants to leave the street, maybe you should, too - before you’re stuck with a bad investment.
2) Mediocre Maintenance
Three layers of roofing and gutters with plants growing in them are signs the owners aren’t big on maintaining their home. What else did they neglect?
3) Foundation Failures
Check out the yard grading. If the yard slopes towards the house, it could cause water to run down the foundation walls or into the basement, which will be costly to repair. Scour the foundation for damage. Bulges or cracks bigger than 1/3 inch can mean the house has serious structural issues.
4) Bad Smells - Inside or Outside
Take a big whiff of the air inside and outside the house. Do you smell anything funky? If you can’t smell anything but the huge baskets of potpourri all over the house, this could be a red flag.
5) Faulty or Old Wiring
While you’re probably not an electrician, make sure all the switches and outlets in the house function properly. Flickering lights, circuits that don’t work and warm or hot outlets or faceplates are all symptoms of wiring problems.
6) Fresh Paint… on One Wall
New paint can really spruce up drab walls, but it can also hide bigger problems, like water damage, mildew or mold. If the room smells strange or if you see stains or saggy walls or ceilings, have an inspector look for mold and leaks.
7) Locked Doors and Blockades
Ask about any rooms that are “off limits” during your home tour, and arrange to see them later if you’re interested in the house.
8) Foggy or Non-Functioning Windows
Check for water in between double-paned windows and make sure all the windows are functional.
9) Structural Walls or Floors have been Removed
Sure you love the open floor plan, but was the house always open or did the homeowners renovate? If they removed a load-bearing wall without adjusting the framing, it can shift weight to other parts of the house. Hire a structural engineer if you think any renovations are questionable.
10) Bugs!
No one wants a house with a pest problem - be it roaches, mice or worst of all, termites. Be on the lookout for unwelcome creatures as you tour the house. Even if no foes pop out while you’re there, consider a separate termite inspection if you’re thinking of purchasing the property.
The Bottom Line
Always get a professional inspection for the house you choose to buy. Skipping a home inspection is not a good way to cut costs. You’ll end up paying more in the long run when problems arise.
For more information, visit http://www.frontdoor.com.
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| | Thu, 01 May 2008 13:54:10 PDT | | By Tom Skevin
RISMEDIA, May 2, 2008-(MCT)-When finding a parking spot in the garage is like finding one in Manhattan, it’s time to get organized. Nicole Alashaian of Emerson, N.J., is facing up to this reality.
“My name is Nicole, and I have a messy garage,” says Alashaian, who has a two-car garage.
“It’s as simple as this: no basement, a weird attic and a belief that stacking (the garage pile) higher will make it go away.
“Put it this way: My electric and gas meters are inside the garage. The PSE&G guy has pretty much stopped asking to come inside to read it.”
For most people who responded to a query in the Record newspaper and `fessed up to their garage problem, it’s a question of not having enough time.
“Each winter I tell my wife that when the weather gets better I will work on the garage,” says Kurt Sidorak, who shares a two-car garage with a tenant at his two-family in Northvale, N.J.
“It’s just hard to find the time since I work two part-time jobs and take care of my elderly dad during the day.”
Though they lack time, those with a garage problem do have plenty of humor.
“When I realize that my husband, Lou, still has excess car parts in his mom’s attic-and he’s been out of the house for over 30 years-I know I’m fighting a losing battle,” says Gail Ann Fernandez of Haworth, N.J.
For brave souls willing to take the plunge, this can be a do-it-yourself project.
For others, it may require a more serious move: hiring the pros.
So to start on the path toward a clean and well-functioning garage, let’s get organized.
Do it Yourself
There are three considerations: time, budget and skill.
“It would be nice to have a pro come in, but my husband and I can do just as well for less money,” says Donna Palladino of Waldwick, N.J., who has a one-car garage that hasn’t seen a car in years.
For those with some time and some skill and on a budget, this is a job that can be done. After all, this is not redecorating the living room or building an addition.
“Set aside a certain amount of time; begin with 15 minutes,” says Gayle M. Gruenberg, president of the Northern New Jersey chapter of the National Association of Professional Organizers. “Pick one small place and start there.”
Determine usage:
Decide what purpose the garage will serve.
Will it be primarily for parking, or other uses? Those could include a mix of mini-warehouse, workshop, auto shop, lawn-and-garden shop, parking and food storage.
Where to start:
First, clear it out.
Items such as pesticides, lacquers, thinners and solvents should be gotten rid of at a government-sponsored disposal day. Bring motor oil to an auto shop.
Recycle paper goods, bottles and cans. Furniture, toys and clothing can be donated to charity.
Items of value can be set aside for when the area is ready for a … garage sale.
Organizing:
- The key is to clear as much floor space as possible, allowing for ease of parking and use of the garage as a work room.
- Use the walls and ceiling. Install cabinets and shelves along the walls, hang devices in the ceiling to stow bicycles and set brackets on the walls to hold ladders, lawn furniture, tools, spreaders and the like.
- A counter, safety cabinet, rack for long-handled tools, recycle organizer and sports organizer are the most important items to have, says Dave Palmer of Palmer Brothers hardware in River Edge, N.J., but adding quality systems cost $1,000 to $5,000 (and higher with options).
“Buy a quality system,” he advises, “and it will cost less than getting a cheap knockoff that will fall apart in a year.”
Do it right:
When setting hooks, brackets and wood (to hold pegboard), make sure to find the studs (2-by-4s) in the wall or ceiling.
In finished garages, look for signs of nails or screws about every 16 inches. If needed, drill test holes with an eighth-inch bit to find the first stud, then measure to 16 inches on each side and go from there. Hitting the wood will provide resistance and a squeaking sound.
When drilling into masonry, use a bit designed for such use.
Later, fill test holes in wallboard with spackle; in masonry, fill with mortar or masonry caulk.
Large shelves:
For more storage space, build a shelf high enough to fit the front end of a car under and/or build a higher shelf (mini-loft) at the back of the garage.
The former must not have any posts that will block the car. Allow about 4 inches clearance from bottom of shelf to top of car. To help support the shelf, install one or more metal straps from the rear wall to front of the shelf.
For overhead shelf, allow enough clearance to prevent people from hitting their heads. Install posts to support.
Shop table:
Handymen and handywomen can build this–just don’t put a permanent table where it will block a car. If tacking to the wall, again, hit the studs.
Not as handy? Buy a prefab kit and build. Or use an old kitchen or picnic table.
Hiring the Pro’s:
Don’t have enough time and/or talent to pull it off? Do what others have and call a pro.
“The average customer is not someone with three sports cars,” says Peter Morrow of The Custom Closet in Hillsdale. “The average customer is somebody who’s got a one-car garage with not enough storage space. Or the person with a two-car garage, three kids and five bikes and is overwhelmed.”
Their numbers are growing, those in the industry say.
“We doubled in size from the end of our first full year to the end of our second full year,” says Jay Feingold, who along with Charlie Dennis has been in the business for three years as PremierGarage of Northern New Jersey in Passaic, N.J.
Professionals say the cost can run from $500 to $10,000 and up with bells and whistles. It depends on the size of the garage, the wall space, quality and number of cabinets and counters ordered, flooring and choice of organizers.
Feingold says jobs can get really pricey-more than $20,000-when adding enhanced lighting, audio/video/telephone and heating. He recalls building cabinets around a stove for one customer. Automotive enthusiasts have been known to add vehicle lifts.
A simple project can take a day or less. With a flooring surface that provides traction, figure three days; up to five for larger, more complex jobs. Allow a week or more if also having the garage cleaned out.
When hiring, be realistic, says Beatrix H. Goudey of Let Us Organize You in Glen Rock, N.J.
“People will call us in and want to spend $500 to $1,000-asking to have a garage just like the one they saw (on TV) on `Mission: Organization,’” she says, “and they want it done in one to two days.”
© 2008, North Jersey Media Group Inc.
Distributed by McClatchy-Tribune Information Services.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
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| | Wed, 30 Apr 2008 13:33:02 PDT | | RISMEDIA, May 1, 2008-Resilient American homeowners intend to shake off concerns about the slumping real estate market and plant the money they receive as part of the federal economic stimulus package into what for many is their most important financial asset: their homes.
A national consumer opinion survey released today found that 24% of U.S. homeowners are “considering using” the money they will receive as part of the federal economic stimulus package to upgrade or improve their homes. In addition, roughly one in five respondents, or 19%, said they would “definitely use” their rebate money for a home improvement project. The survey was conducted in April by Johns Manville (JM), a building and specialty products manufacturer, and Opinion Research Corp., a market research firm.
“The federal government is hoping that Americans will spend these checks and help stimulate the nation’s economy, and this survey confirms that many Americans are prepared to do that, at least when it comes to their homes,” said Wayne Russum, senior vice president of Opinion Research Corp.
Among respondents who said they are not considering using their rebate check for a home improvement, the most common intended uses were saving it (45%), paying down debt (40%), taking a vacation (14%), purchasing a luxury item (9%), or something else (5%).
The tax rebates were created earlier this year by a Congressional bill aimed at encouraging consumer spending in the face of a slumping economy and a weak housing market. The checks started arriving in taxpayers’ bank accounts on Monday. Single taxpayers with annual adjusted gross income of less than $75,000 qualify, as do joint filers making less than $150,000.
The telephone survey of 751 American homeowners was conducted from April 11-14 by Opinion Research Corp., a national market research firm based in New Jersey, on behalf of Johns Manville, an international building materials manufacturer based in Denver. The survey’s sampling error was plus or minus four percentage points.
The survey found that the most popular projects for respondents considering using their rebate checks for a home improvement project included: household upgrades, including landscaping (23%) or an upgrade of the bathroom (13%) or kitchen (12%); improving their homes’ energy efficiency, including adding attic insulation (9%), caulking or sealing (4%), or installing energy efficient light bulbs (4%); or painting a room (10%).
The survey’s other key findings included:
Homeowners between the ages of 25 and 34 were most likely to consider using the rebate checks for a home improvement (33%); homeowners older than 65 were least likely (20%).
Homeowners in the West were most likely to use their rebate check for a home improvement (27%); homeowners in the South were least likely (22%).
The most common reasons cited for pursuing a home improvement project with the rebate money were comfort (34%), aesthetics (17%), environmental impact (15%), resale (13%), and return on investment (8%).
Among all respondents, 31% of homeowners said they are planning to start a home improvement project during May, which is National Home Improvement Month.
“Clearly, many homeowners agree that investing in their homes can improve their quality of life and provide a solid return on investment,” said Mark Ziegert, JM’s senior brand manager for building insulation products. “People who use their rebate check to improve their home’s energy efficiency not only enhance the comfort of their home, they will achieve cost saving in both the winter and summer through improved energy efficiency, and they may increase the resale value of the home.”
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
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| | Tue, 29 Apr 2008 13:46:22 PDT | | By John Gallagher
RISMEDIA, April 30, 2008-(MCT)-Around the time Henry Ford was introducing the Model T, the house of choice for many young families with middle-class aspirations was the bungalow-quaint, affordable and picturesque.
Today, as economic times toughen and finding a mortgage becomes more difficult, the Arts and Crafts-inspired bungalow is once again winning favor with buyers with modest incomes.
“The bungalow is ideal for a young family today because the size and proportions of a bungalow are suited for a family to communicate, to know which door is being used, and to track each family member,” Rebecca Binno Savage, an expert on the subject, said. “The open floor plans were a new way of living in the early 20th century, and they still are the most practical today.”
Today’s environmentally conscious buyers also find bungalows attractive.
“A historic home is always the most green and the most environmentally sound thing a new family can purchase,” she said.
Art Rizzo, an English teacher in Detroit, bought his bungalow in Highland Park, Mich., in 1996. Built in 1919 and designed by noted Detroit architect Leonard Willeke, the house features all the cozy touches that distinguish many bungalows of the era, including Pewabic tile and elegant woodwork.
“When I bought the house, I had a friend who is really into restoration and historical preservation, and he said the Pewabic tile alone in the house was worth what I was paying for the house. It’s hardwood floors throughout and all the great details that you find in Arts and Crafts homes. All those goodies,” he said.
One reason for the bungalow’s enduring popularity is price; bungalows tend to be priced below the average for any given market.
Rizzo paid $79,000 for his bungalow in 1996, and while it was appraised six years ago at $130,000, the price probably would be lower now given the depressed real estate market. In Grosse Pointe Park, Mich., a bungalow owned by Zachariah and Desiree Bobby is for sale by owner for $350,000, well below what many homes in the area would cost.
And the design virtues of bungalows-simplicity, harmony and good workmanship-can make up for a lot of overpriced froufrou in more pretentious neighborhoods.
“I think it’s just the character of the house,” Desiree Bobby said of their 1925 bungalow.
Detroit in particular enjoys a rich history of bungalow design. The rise of the automotive industry was spurring tremendous growth in Detroit just as the bungalow reached the peak of its popularity. Most bungalows are found in the city and inner ring suburbs such as Royal Oak and Ferndale, but examples can be found scattered throughout the metro area there.
In one particularly fine example, a historic district in Highland Park contains more than 200 bungalows built mostly between 1914 and 1925. Many show incredibly fine detail, including elegant wood carving, stonework, and chimneys with elaborate brick and tile designs.
“Highland Park’s bungalows are as architecturally significant as those in California’s most tony, expensive neighborhoods,” Binno Savage said.
Nor was the bungalow strictly a working-class home. The Highland Park district originally housed many doctors and business executives.
In bungalows built as long as 75 years ago, maintenance is an issue as it would be for any older house. But Rizzo said there are no particular problems beyond normal upkeep.
“Highland Park is just a gem in terms of these Arts and Crafts homes,” Rizzo said. “If they were in California, they’d be $300,000 homes.”
© 2008, Detroit Free Press.
Distributed by McClatchy-Tribune Information Services.
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| | Tue, 29 Apr 2008 13:44:31 PDT | | By Alan J. Heavens
RISMEDIA, April 30, 2008-(MCT)-I was in my basement office when the doorbell rang. That, in itself, was a miracle because I thought the doorbell was broken, and had even gone to the trouble of disassembling it a couple of weeks before to find out why. I must have done something right for a change.
At the door were two college-age fellows, smiling broadly.
Usually, when young people come to the front door, they are promoting some cause and want my signature on a petition. Although I vote in every election, professional ethics have always prevented me from signing petitions, because I was taught that reporters must be impartial.
Just as I was about to explain this, one of the fellows announced that he and his cohort represented a house-painting consortium and they were offering me a free estimate.
I explained that I had just finished the third and final coat on the exterior and the garage in the fall, then I pointed them down the street to the only other wood-sided house in the neighborhood.
I turned to go back inside but paused to ring the doorbell several times-in case I was hearing things.
I have learned many skills over the last 57 years, and one is how to paint. Though some might have been offended by the offer of a free estimate, I was encouraged by my young visitors’ entrepreneurial spirit. Also, there are fewer wood-sided houses these days than ever, so mine was an obvious target.
When I was in my early teens, a couple of my friends and I painted houses, too. It was miserable work: hair and skin covered with paint chips and dust glued with the sweat of summer labor.
We never charged what we should have, because most of our customers were elderly and on fixed incomes. If we were making $1.50 an hour each, the minimum wage then, I would have been surprised.
But what I learned more than 40 years ago was that surface preparation is the key to a long-lasting, good-looking paint job.
We removed the old paint by hand, using scrapers with replaceable razor blades and sanding down the rest of the surface. We used bleach and warm water to remove mildew and to clean the dust and dirt.
Since most of the houses we painted were clapboard, we used brushes. All the professionals used slow-drying, oil-based paint, and so did we.
If we had no choice but to work in direct sunlight-a surface can be 10 to 20 degrees hotter than the air-two of us held a tarp in front of the third while he painted.
If you’re thinking about painting this spring, get to it before the weather gets too warm and sticky, which affects drying. Windy days also are not good painting days, because you want the paint to set up properly before it dries.
Before you begin to paint, make sure the surface is clean and free of chalk and dirt. Use soap and water with a scrub brush, then rinse.
Or consider using a power washer, which can be rented at a home center. Treat any mildew on the surface with a 1-to-3 mixture of household bleach and water.
Remove any loose, flaking or peeling paint by scraping, sanding or wire-brushing. (You might also consider wearing a mask and safety goggles.) Feather back rough paint edges by sanding. If you are repainting a glossy surface, be sure to sand it, so that the new paint will adhere better. And spot-prime any bare wood.
Finally, brush off any dust or particles left from the sanding and scraping prior to painting.
Buy top-quality paint-for durability, be sure to purchase the best you can. From my recent experience, acrylic latex paint works very well in exterior applications. Its flexibility enables it to expand and contract with the surface when temperatures rise or fall dramatically. That also extends the life of the paint job.
Don’t go cheap on tools. To get the best results, use good-quality brushes, rollers and other application equipment. With brushes and rollers, be sure that you have the right type of applicator for the paint. Use synthetic-bristle brushes that are tightly packed and well-balanced and synthetic-nap rollers for latex paint.
© 2008, The Philadelphia Inquirer.
Distributed by McClatchy-Tribune Information Services.
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| | Fri, 25 Apr 2008 13:49:56 PDT | | By Paul Owers
RISMEDIA, April 28, 2008-(MCT)-Selling your home in today’s depressed market might be as ambitious as drumming up positive PR for Britney Spears. With thousands of properties for sale, buyers know they have leverage, and they’re using it. They search a multitude of homes in a quest for the best combination of amenities and price.
The National Association of Realtors reported last week that sales of existing homes have dropped by 19.3% in the past year.
So sellers need to fight back, preferably with broom and brush in hand.
Homes that do attract interest are priced right and show well. The grass is cut and the shrubs are manicured, rooms are free of clutter and ratty carpeting has been replaced with a neutral-color berber.
We talked to five housing experts-appraiser Joel Greenberg, real estate agent Janice Leis and home stagers Akanake Cadden, Heather Johnson and Margo Aguirre-for ideas on renovations that homeowners can make that will help their properties stand out.
Fair warning: most of these are budget-friendly, but some changes do require a little extra cash.
“When the market was hot, buyers were willing to overlook things,” Greenberg said. “Not anymore.”
1. Curb appeal
This is arguably the most important part of preparing your home for sale because it’s the buyer’s first impression. Your home doesn’t necessarily have to be repainted, but it should look fresh, with no cracked paint. Consider pressure-cleaning sidewalks, resealing the driveway and replacing the mailbox. Get rid of any debris, weeds and toys in the yard. Sprinkle mulch around the trees and trim the hedges so that they’re not hiding windows. Plant colorful flowers no more than 6 inches high.
“Red, purple, orange,” Cadden said. “Those colors create excitement in a buyer.”
2. Kitchens and bathrooms
Kitchens are the No. 1 seller of homes, with bathrooms a close second. Consider replacing the kitchen counter tops if they’re old and bland. Everybody loves granite, but laminate, black Formica or four-inch tiles with grout aren’t bad alternatives and cost less. Granite 12-by-12 tiles with thin grout is another possibility, but you may have to do a lot of cutting, depending on the depth of the counter top.
Here’s a good rule of thumb: If the house is listed at $500,000 or above, you probably need to spring for granite. To spruce up the bathrooms, replace the fixtures and the sliding shower door. Hang some fluffy white towels. Above all, the bathrooms must be spotless.
3. Doors
The front door, if possible, should have glass side panels to allow light to shine through. Replacing the hardware with, say, antique bronze is a cost-effective way to make the door look new. Don’t forget to make sure the doorbell works. Doors inside the house should be painted and the hardware should be the same on each one. Fix any annoying squeaks. Older homes have sliding-glass doors, but there’s not much you can do with those except replace them. French doors will add value, but they’re expensive.
4. Flooring
Wood is good, but make sure it’s sanded and restained. Laminate flooring also is fine, but it should be a neutral color. Shampoo the carpet so it’s free of stains and pet smells. You don’t need to buy new carpeting because the homebuyer will want to select it. But if the rug is really bad, get berber from one of the home improvement stores and install it yourself.
5. Lighting
Upgrading the lighting is an inexpensive way to improve the look and mood of a house. Replace the fixtures, install dimmers and use soft-wattage light bulbs. Buy a chandelier, but nothing too ornate. Also, keep the outside lights on at night because prospective home buyers often drive through neighborhoods after dark.
6. Living room and closets
A cluttered house quickly turns off buyers, so lose the knick-knacks. Make the house appear open and inviting. Pack up one-third of a closet’s contents and store the junk somewhere off site. A crowded closet tells buyers the house doesn’t have adequate storage.
7. Garage
Garage organization is big business these days and the before/after photos offer dramatic contrasts. Local companies will come in and get rid of the junk, using bins, cabinets, lockers, hooks and hangers to more neatly store what’s left. The cost of organizing your garage can range from a few hundred dollars to more than $15,000. You could do much of the work yourself. For instance, if the garage floor is stained, paint it gray.
8. Patio
Again, less is more. Make sure the junk is gone and that the furniture looks new. Set up the grill. Create a scene that allows potential buyers to see themselves relaxing outside and enjoying the backyard.
9. Ceilings
Adding crown molding and removing popcorn ceilings are nice touches but not necessary. If you do try it, hire a professional. In most cases, however, your money would probably be better spent elsewhere.
10. Pool/spa/sprinkler system
The pool and spa should have enough water. If there are leaks, or if the equipment is broken, get busy. Don’t forget about the sprinkler system. Granted, sellers don’t want to invest hundreds or thousands of dollars in fixing these items, but it will greatly improve their chances with buyers.
© 2008, South Florida Sun-Sentinel.
Distributed by McClatchy-Tribune Information Services.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
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| | Fri, 25 Apr 2008 13:32:44 PDT | | By Shaila Wunderlich
RISMEDIA, April 28, 2008-(MCT)-If the litmus test for a dead pillow is that it doesn’t bounce back when folded in half, then my pillows are undoubtedly flat-lined. Come to find out, this could be costing me some valuable sleep.
“We stress the importance of having an appropriate sleeping environment, and that includes a comfortable pillow and mattress,” says Dr. Ramadevi Gourineni, a neurologist with Northwestern Memorial’s Sleep Disorder Center. “And we do see a fair number of patients who, after changing their pillow or mattress, see a considerable difference in their sleep.” With my mission now shifted from resuscitation to replacement, I look to Gourineni and a bedding retailer for shopping parameters.
1 Get in line. Top priority for all pillows is to keep the head and neck properly aligned with the spine. The pillow that supports proper alignment will likely be the pillow that feels most comfortable.
2 The position of comfort. Achieving proper alignment is all about density, and density depends on the position in which you most often sleep. Side sleepers require a firm pillow. Back sleepers need a medium-density pillow, and stomach sleepers, a soft, relatively flat pillow.
3 Fill it up. Once you’ve met your alignment needs, it’s time to consider fill. “There are two types of fill: synthetic and natural,” says Lauren Somrak, basic bedding buyer for Macy’s. “Synthetic fills, which are essentially polyester, are naturally hypoallergenic and a bit more firm than natural. Natural fills are typically either feather or down and are a little softer.” Go with the fill that best meets your density and allergy needs.
4 Speaking of allergies. “Pillows have to be replaced or cleaned: Dirt and spores accumulate, increasing allergic symptoms, which can hinder sleep,” Gourineni says. Synthetic pillows are naturally hypoallergenic. Natural pillows, on the other hand, must be manually cleaned. “Always read the manufacturer’s suggested care instructions, but generally, most pillows are machine-washable,” Somrak says. A pillow’s lifespan can vary widely, she adds. “It depends on the quality of the pillow and how well you take care of it.” Talk to your linen retailer or call the pillow’s manufacturer for specifics.
5 Don’t be stingy. Synthetic pillows run approximately $10 to $50; natural pillows around $60 to $130. Spending a little more will get you higher-quality materials, but your own care is the biggest factor in a pillow’s life. “If you never fluff it or clean it or put a pillow protector on it, it’s not going to last very long,” Somrak says.
© 2008, Chicago Tribune.
Distributed by McClatchy-Tribune Information Services.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
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