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Here's the Real Deal about the state of the Housing Market!

2012-05-24T18:54:42Z

One in three mortgage holders still underwater

By John W. Schoen, Senior Producer

Got that sinking feeling? Amid signs that the U.S. housing market is finally rising from a long slumber, real estate Web site Zillow reports that homeowners are still under water.

Nearly 16 million homeowners owed more on their mortgages than their home was worth in the first quarter, or nearly one-third of U.S. homeowners with mortgages. That’s a $1.2 trillion hole in the collective home equity of American households.

Despite the temptation to just walk away and mail back the keys, nine of 10 underwater borrowers are making their mortgage and home loan payments on time. Only 10 percent are more than 90 days delinquent.

Still, “negative equity” will continue to weigh on the housing market – and the broader economy – because it sidelines so many potential home buyers. It also puts millions of owners at greater risk of losing their home if the economic recovery stalls, according to Zillow’s chief economist, Stan Humphries.

“If economic growth slows and unemployment rises, more homeowners will be unable to make timely mortgage payments, increasing delinquency rates and eventually foreclosures," he said.

For now, the recent bottoming out in home prices seems to be stabilizing the impact of negative equity; the number of underwater homeowners held steady from the fourth quarter of last year and fell slightly from a year ago.

Real estate market conditions vary widely across the country, as does the depth of trouble homeowners find themselves in. Nearly 40 percent of homeowners with a mortgage owe between 1 and 20 percent more than their home is worth. But 15 percent – approximately 2.4 million – owe more than double their home’s market value.

Nevada homeowners have been hardest hit, where two-thirds of all homeowners with a mortgage are underwater. Arizona, with 52 percent, Georgia (46.8 percent), Florida (46.3 percent) and Michigan (41.7 percent) also have high percentages of homeowners with negative equity.

http://economywatch.msnbc.msn.com/_news/2012/05/23/11835006-one-in-three-mortgage-holders-still-underwater?lite

Housing market shows early signs of healing

2012-05-24T15:32:16Z

Really?

A sign of the times? Possibly, but housing has a long way back.

By Bill Briggs

A spring growth spurt continues to bloom in the housing market.

Existing-home sales rose 3.4 percent from March to April with tight supplies in markets like Miami helping to seed the rejuvenation, according to National Association of Realtors data released today.

Year over year, home sales were 10 percent higher in April while median home prices touched $177,400, a 10.1 percent spike from April 2011, the NAR said...

A large overhang of homes in foreclosure or in danger of foreclosure are still sandbagging the market in many cities. Foreclosures and short sales (homes sold for less than what is owed on the owner's mortgage) comprised 28 percent of the April sales (17 percent were foreclosures and 11 percent were short sales). But that was down from 29 percent in March and 37 percent in April 2011, said the NAR, where analysts also contend that a "diminishing share of foreclosed property sales is helping home values."

http://economywatch.msnbc.msn.com/_news/2012/05/22/11812194-housing-market-shows-early-signs-of-healing?lite

You Have To Check This Out - Patterned Roller Blinds

2012-05-02T19:13:47Z

by Tara Steele in Interior Design - April 27, 2012 ·

Roller blinds became quite passé after years of their being used in sterile or outdated designs, but with new patterns and features, they're making a big comeback and are being featured in homes and offices of all types.

Roller blinds are back
Roller blinds are back and we don’t mean the kind that were in your day care center a trillion years ago that came in creme and had that circle thingy at the bottom that snapped eyeballs out when the roller was pulled up or down too quickly. No, roller blinds have come a long way, and not only are they aesthetically pleasing with modern patterns and colors, they function much more differently now and come with a lot of features.
Roller blinds of today are flame retardant, and you can get them in blackout, dimout or diffused, and can even order reflective roller blinds to help keep your home or office cool and the electric bills down, as this summer looks like it will be a pretty harsh one. Some are stain proof and easy wipe, and some are even moisture proof which is great for those condensation-filled mornings. Additionally, some roller blinds are even made with hypoallergenic materials.
We are seeing these being used as a high impact focal point for rooms, especially with minimalist, modern, or transitional interiors. Solids and textures are available, but what is hot right now is the big, bold patterns, be they floral, striped, or chevron.

http://agbeat.com/style-and-living/interior-design-style-and-living/bold-patterned-roller-blinds-are-back-interior-design-trend/

Five Principles Of Home Staging

2012-04-30T22:13:35Z

Home staging is economical and a well-proven benefit to Realtors and home owners alike. Here are some basic staging principles every home seller can use.

Become a Seller, Not a Dweller

Homeowners must make the mental shift necessary to become Sellers, not Dwellers. It is only then sellers are able to realize they own a commodity to be sold and no longer their home. The way we live in our homes is different than the way we sell our homes. With this mental shift in place, the next step in the process may begin.

Clean and De-clutter

De-cluttering is the first principle used in home staging. Clutter is defined as those items in a room that are not necessary for its function or beauty. Clutter can be too many books, knickknacks, or accessories. With staging, only key accessories and furniture remain. The property will immediately appear more spacious and well cared for.

Here are some tips to keep in mind as it applies to de-cluttering:

A buyer wants to purchase a move-in ready home. A house that is not clean implies deferred maintenance.
A buyer is purchasing square footage. Clear the clutter to create the impression of more space.
Let the light in; buyers are drawn to open, airy spaces.

Appeal to the Masses

With the de-cluttering process accomplished, the next phase is depersonalizing. The buyer will want to mentally personalize it and imagine living in the house when it becomes theirs. This includes using neutral tones throughout as well as general updates which will appeal to the largest segment of potential buyers.

Realtors no longer have the almost impossible task of telling homeowners their faux finished pink bathroom really needs a neutral tone of paint (put in before and after of pink bathroom) or their beloved collection of gargoyles will turn off potential buyers.

If You Can't See It, You Can't Sell It.

Curb appeal is everything. It's the first impression a potential buyer gets of the home. Remember, if you can’t see it you can’t sell it. The easiest and best way to determine what needs to be done to the outside of the home and the lawn is to walk across the street. Look objectively at what the home looks like from that vantage point. Then, take the following curb appeal test:

1. Are the gutters clean and in good repair?

2. How does the driveway look?

3. Do the shrubs need pruning?

4. Do the trees need trimming?

5. How do the flower beds look?

6. Is the walkway leading to the house inviting?

7. Does the lawn look clean and neat?

8. Are the house numbers clearly visible?

9. Does the entryway and front door make a great first impression?

10. Are toys, tools, hoses and any other distracting items put away?

Amie Hebert Chaney, a Home Staging Expert (HSE), says Home Staging is the art of preparing a home for market to give the best possible first impression to potential buyers, resulting in a quicker sale and higher profit. The intent behind home staging is for potential buyers to be able to see the home as theirs. www.homestagingbyamie.com. For information contact FrogPond at 800.704.FROG (3764) or email Susie@FrogPond.com; http://www.FrogPond.com.

It is only after answering and addressing the above curb appeal issues that the seller will have passed the “curb appeal test.”

Maximize Strong Points; Minimize Shortcomings

Finally, it’s important to show off the home’s best features, while hiding its flaws. Showcase focal points such as fireplaces, wood floors, and expansive views and divert attention away from less attractive features by creating alternate interest.

If a home seller is willing to follow these simple steps – clean and de-clutter, depersonalize, increase curb appeal and maximize the home’s strong points - they greatly improve the chances of selling their home quicker and for top dollar.

Home ownership rate falls to decade low, poll shows

2012-04-28T17:38:05Z

By John W. Schoen, Senior Producer

The aftermath of the worst housing collapse since the 1930s continues to take a toll on the American Dream of owning a home.

Echoing the results of other surveys, a new poll from Gallup, released Thursday, found that just 62 percent of Americans now own a home - the lowest in more than a decade.

That’s down from home ownership rates of 73 percent tracked by Gallup in 2006 and 2007 at the peak of the housing boom.

The U.S. Census estimates that the home ownership rate peaked at 69.2 percent at the end of 2004and fell to 66.4 percent by the end of last year. The last time the Census recorded a 62 percent rate was in 1965.

Inside the foreclosure factory, they're working overtime

2012-04-22T21:00:03Z

By John W. Schoen, Senior Producer

In a quiet office in downtown Charlotte, N.C., dozens of Wells Fargo’s foreclosure foot soldiers sit in cubicles cranking out documents the bank relies on to seize its share of the thousands of homes lost to foreclosure every week.

They stare at computer screens and prepare sworn affidavits that are used by lenders in courts across the country to seize homes. Paid $30,700 to start, these legal process specialists, the title that goes with the job, swear an oath under penalty of perjury that they're corporate vice presidents. They're peppered with e-mails from managers to meet daily quotas of at least 10 or 11 files day.

If they fall short, they face a verbal warning. Then written. Two written warnings could cost them the paycheck that supports a family. As more than one source for this story told msnbc.com, "I can't afford to lose this job.

"Pressured to meet daily production quotas, they are likely making mistakes that inadvertently could toss a family out of its home and onto the street, according to these workers.

State and federal prosecutors, in a recent settlement with five banks that included Wells Fargo, agreed. The joint state and federal settlement spelled out how the document procedures at the five banks resulted in “loss of homes due to improper, unlawful or undocumented foreclosures,” according to the complaint.

"These are mistakes that could cost someone their home," a Wells Fargo document preparer told msnbc.com.

http://economywatch.msnbc.msn.com/_news/2012/04/19/11269115-inside-the-foreclosure-factory-theyre-working-overtime?lite

Why Is Earth Day Important To Us? Sunday 4.22.2012

2012-04-21T22:22:06Z

Earth Day: The History of A Movement

Each year, Earth Day -- April 22 -- marks the anniversary of what many consider the birth of the modern environmental movement in 1970.

The height of hippie and flower-child culture in the United States, 1970 brought the death of Jimi Hendrix, the last Beatles album, and Simon & Garfunkel’s “Bridge Over Troubled Water”. Protest was the order of the day, but saving the planet was not the cause. War raged in Vietnam, and students nationwide increasingly opposed it.

At the time, Americans were slurping leaded gas through massive V8 sedans. Industry belched out smoke and sludge with little fear of legal consequences or bad press. Air pollution was commonly accepted as the smell of prosperity. “Environment” was a word that appeared more often in spelling bees than on the evening news. Although mainstream America remained oblivious to environmental concerns, the stage had been set for change by the publication of Rachel Carson's New York Times bestseller Silent Spring in 1962. The book represented a watershed moment for the modern environmental movement, selling more than 500,000 copies in 24 countries and, up until that moment, more than any other person, Ms. Carson raised public awareness and concern for living organisms, the environment and public health.

The idea came to Earth Day founder Gaylord Nelson, then a U.S. Senator from Wisconsin, after witnessing the ravages of the 1969 massive oil spill in Santa Barbara, California. Inspired by the student anti-war movement, he realized that if he could infuse that energy with an emerging public consciousness about air and water pollution, it would force environmental protection onto the national political agenda. Senator Nelson announced the idea for a “national teach-in on the environment” to the national media; persuaded Pete McCloskey, a conservation-minded Republican Congressman, to serve as his co-chair; and recruited Denis Hayes as national coordinator. Hayes built a national staff of 85 to promote events across the land.

As a result, on the 22nd of April, 20 million Americans took to the streets, parks, and auditoriums to demonstrate for a healthy, sustainable environment in massive coast-to-coast rallies. Thousands of colleges and universities organized protests against the deterioration of the environment. Groups that had been fighting against oil spills, polluting factories and power plants, raw sewage, toxic dumps, pesticides, freeways, the loss of wilderness, and the extinction of wildlife suddenly realized they shared common values.

Earth Day 1970 achieved a rare political alignment, enlisting support from Republicans and Democrats, rich and poor, city slickers and farmers, tycoons and labor leaders. The first Earth Day led to the creation of the United States Environmental Protection Agency and the passage of the Clean Air, Clean Water, andEndangered Species Acts. "It was a gamble," Gaylord recalled, "but it worked."

As 1990 approached, a group of environmental leaders asked Denis Hayes to organize another big campaign. This time, Earth Day went global, mobilizing 200 million people in 141 countries and lifting environmental issues onto the world stage. Earth Day 1990 gave a huge boost to recycling efforts worldwide and helped pave the way for the 1992 United Nations Earth Summit in Rio de Janeiro. It also prompted President Bill Clinton to award Senator Nelson the Presidential Medal of Freedom (1995) -- the highest honor given to civilians in the United States -- for his role as Earth Day founder.

As the millennium approached, Hayes agreed to spearhead another campaign, this time focused on global warming and a push for clean energy. With 5,000 environmental groups in a record 184 countries reaching out to hundreds of millions of people, Earth Day 2000 combined the big-picture feistiness of the first Earth Day with the international grassroots activism of Earth Day 1990. It used the Internet to organize activists, but also featured a talking drum chain that traveled from village to village in Gabon, Africa, and hundreds of thousands of people gathered on the National Mall in Washington, DC. Earth Day 2000 sent world leaders the loud and clear message that citizens around the world wanted quick and decisive action on clean energy.

Much like 1970, Earth Day 2010 came at a time of great challenge for the environmental community. Climate change deniers, well-funded oil lobbyists, reticent politicians, a disinterested public, and a divided environmental community all contributed to a strong narrative that overshadowed the cause of progress and change. In spite of the challenge, for its 40th anniversary, Earth Day Network reestablished Earth Day as a powerful focal point around which people could demonstrate their commitment. Earth Day Network brought 225,000 people to the National Mall for a Climate Rally, amassed 40 million environmental service actions toward its 2012 goal of A Billion Acts of Green®, launched an international, 1-million tree planting initiative with Avatar director James Cameron and tripled its online base to over 900,000 community members.

The fight for a clean environment continues in a climate of increasing urgency, as the ravages of climate change become more manifest every day. We invite you to be a part of Earth Day and help write many more victories and successes into our history. Discover energy you didn't even know you had. Feel it rumble through the grassroots under your feet and the technology at your fingertips. Channel it into building a clean, healthy, diverse world for generations to come.

http://www.earthday.org/earth-day-history-movement