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"But see, in our open clearings, how golden the melons lie;
Enrich them with sweets and spices, and give us the pumpkin-pie!"
- Margaret Junkin Preston
Featured In This Issue
Special Days and Events
Pending Home Sales Index Rises 4.3%
Building 101: Top Considerations in New Construction and Remodeling
Cooking Corner
Special Days and Events
November 3 ? Sandwich Day
November 8 ? World Town Planning Day
November 11 ? Sadie Hawkins Day
November 11 ? Veterans Day
November 15 ? America Recycles Day
November 16 ? International Day for Tolerance
November 18 ? Mickey Mouse's Birthday
November 19 ? Marine Corps Day
November 20 ? Children's Day
November 22 ? National Stop the Violence Day
November 23 ? Thanksgiving Day
November 30 ? International Computer Security Day
The birth flower for November is the Chrysanthemum. The birth stone for November is the Topaz.
Pending Home Sales Index Rises 4.3%
Pending home sales have increased, showing that the housing market continues to stabilize, according to the NATIONAL ASSOCIATION OF REALTORS®.
NAR´s Pending Home Sales Index, based on contracts signed in August, rose 4.3 percent to a level of 110.1 from a reading of 105.6 in July, but is 14.1 percent lower than August 2005.
David Lereah, NAR´s chief economist, says the higher index reading is a hopeful sign for the real estate market.
"Our sense is that home sales may have reached a low in August," he says. "The Pending Home Sales Index shows home sales should be fairly stable over the next two months, although a minor decline is possible.
Prices to Rise at Slower Pace in '07
"With fewer new listings coming on the market, we should be able to draw down the inventory supply early next year to the point where home prices will rise, but at a slower pace than historic norms," Lereah adds.
The index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed and the transaction has not closed, but the sale usually is finalized within one or two months of signing.
An index of 100 is equal to the average level of contract activity during 2001, the first year to be examined, and was the first of five consecutive record years for existing-home sales. There is a closer relationship between annual changes in the index and actual market performance than with month-to-month comparisons; analysis shows a strong parallel between changes in the index from a year ago and the actual pace of home sales in coming months.
Biggest Increase Is in the West
Regionally, the index reading for the West rose 9.2 percent in August to 112.7 but was 16.9 percent below August 2005.
The index in the South increased 4 percent to 126.8 in August but was 9.4 percent below a year ago.
In the Northeast, the index rose 3.6 percent in August to 95.4 but was 12.4 percent below August 2005.
The index in the Midwest was unchanged at 93.8 in August and was 20.4 percent lower than a year ago.
Reprinted from REALTOR® Magazine [October, 2006] with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2006. All rights reserved.
Building 101: Top Considerations in New Construction and Remodeling
I recently met with a newly married couple, Ted and Jen, to help them design their dream home, which they are building on the upper Mississippi River this year. Plans for the Mediterranean-inspired home are nearly complete, and they asked me about choosing the finishing touches and fixtures.
Ted and Jen did much of their own research, but wanted to make sure they incorporated details that will add long-term value to their property. To stay on budget, most homeowners have to prioritize which features are a necessity now, and which features can be added later.
For your own home construction or remodeling project, consider the following tips that I provided to Ted and Jen.
Fresh Air
The heating and cooling system in your home is one of the most important decisions you can make, since it creates a comfortable environment. Having cleaner, healthier air in your home can help reduce allergy symptoms by eliminating the vast majority of mold spores, pollen and pet dander. Unfortunately, many homeowners often leave the heating and air conditioning choice entirely up to their builder.
Since Ted and Jen wanted to make their home as healthy and comfortable as possible, I suggested that they consider an American Standard AccuClean whole house air filtration system. AccuClean, which attaches to your heating and cooling system, removes 99.98 percent of unwanted airborne particles and is more effective than HEPA filters. This clean air system helps homeowners breathe easier.
More Bathrooms
Did you know that you can plumb now for future bathrooms and finish them later? Since 1995, the U.S. Census Bureau reports that more new homes are being built with three or more bathrooms. Sometimes finishing all of these bathrooms at once might not be in the budget, and they may not be needed in the beginning. Ted and Jen are in this situation. As Ted´s home-based business grows, they´re planning to add two more bathrooms to their five-bedroom home to accommodate more visitors -- and their current pocketbook. Until then, they´re ready with the plumbing connections.
Clean Finishes
Like many of us, Ted and Jen want to spend less time cleaning and more time enjoying themselves. Luckily, there are shortcuts to keeping your faucets and toilets cleaner. I suggested American Standard´s new EverClean finishes for bath and kitchen faucets. This new permanent finish allows you to remove dried water spots and other dirt from faucets with one wipe. Ted can now turn off the faucet before he dries his hands. In addition, the company´s Cadet 3 toilet with the EverClean Antimicrobial Glaze inhibits the growth of stain and odor-causing bacteria.
Taking into consideration the number of bathrooms Ted and Jen have to keep up with, the Cadet 3 made sense for Ted´s office area, the main floor powder room and the master bath, because it´s easy to keep clean and less likely to clog. (It can flush up to 150 feet of toilet paper!)
Natural Surfaces
Because Ted and Jen chose a Mediterranean design style, natural stone was the obvious choice for flooring. Countertops also will be in natural stone, which has become the most popular choice in countertops today. Theirs will be made of granite, in neutral colors mixed with pewter and a soft sage. By keeping the majority of the home´s color scheme neutral, they are creating a clean palette that anyone can accent with dashes of color to update or change in the future.
High Performance Appliances
Jen is quite the cook, and Ted has a large family, so their new kitchen is going to be their home´s hub of activity and entertaining. Jen has dreamed of all stainless appliances. I recommend that homeowners be honest with themselves about how long they expect to live in the home and how much they will use these appliances. Keep in mind that today´s kitchen may need a serious update in 12 years to keep up with appliance and design styles. Homeowners should buy what makes the most sense for their lifestyle and resale timing.
Outdoor Living Space
Take advantage of your property by making the most of the view and natural light. Outdoor spaces are extended living areas, so porches and patios are just as important as the home. Ted asked for a large, enclosed porch area to extend the short summer for entertaining. Although these areas can be built later, plan for them now to make sure the space works well with your home´s structure and traffic patterns -- and that the home is positioned on the lot to take advantage of the outdoors.
Courtesy of ARA Content
 Cooking Corner
Southern Cornbread Stuffing
Courtesy FoodNetwork.com
Cornbread, recipe follows
7 slices oven-dried white bread
1 sleeve saltine crackers
8 tablespoons butter
2 cups celery, chopped
1 large onion, chopped
7 cups chicken stock
1 teaspoon salt
Freshly ground black pepper
1 teaspoon sage (optional)
1 tablespoon poultry seasoning (optional)
5 eggs, beaten
Preheat oven to 350 degrees F. In a large bowl, combine crumbled cornbread, dried white bread slices, and saltines; set aside.
Melt the butter in a large skillet over medium heat. Add the celery and onion and cook until transparent, approximately 5 to 10 minutes. Pour the vegetable mixture over cornbread mixture. Add the stock, mix well, taste, and add salt, pepper to taste, sage, and poultry seasoning. Add beaten eggs and mix well. Reserve 2 heaping tablespoons of this mixture for the giblet gravy. Pour mixture into a greased pan and bake until dressing is cooked through, about 45 minutes. Serve with turkey as a side dish.
Cornbread:
1 cup self-rising cornmeal
1/2 cup self-rising flour
3/4 cup buttermilk
2 eggs
2 tablespoons vegetable oil
Preheat oven to 350 degrees F. Combine all ingredients and mix well. Pour batter into a greased shallow baking dish. Bake for approximately 20 to 25 minutes. Remove from oven and let cool. To serve, cut into desired squares and serve with butter.
Yield: 6 to 8 servings
Hope you've enjoyed November´s Newsletter. Please call or send an e-mail if you have any questions about buying, selling, or investing in real estate |
