DAILY REAL ESTATE NEWS | THURSDAY, MAY 30, 2013
Lenders may be less inclined to approve short sales due to rising home prices, according to a new report by RealtyTrac.
During the first quarter, short sales posted a 35 percent drop compared to year-ago levels.
"The decrease in short sales was a bit of surprise given that 11 million home owners nationwide still owe more on their homes than they're worth," says Daren Blomquist, spokesman for RealtyTrac. "Rising home prices are taking away the incentive for short sales on the part of both home owners and lenders."
Foreclosure prices are on the rise, increasing 28 percent in the first quarter. The banks may be realizing they won’t necessarily lose a lot more money by letting a home go into foreclosure instead, Blomquist says.
However, foreclosure sales have been plummeting too, reaching their lowest levels since early 2008. Foreclosure sales made up 21 percent of the total market during the first quarter, which is down from 25 percent one year ago, according to RealtyTrac.
Foreclosure sales peaked in early 2009, when they made up 45 percent of all homes sold nationally.
Still, foreclosures are making up the biggest bulk of sales in certain states, such as Georgia (where 35 percent of sales were foreclosures in the first quarter), Illinois (32 percent), and California (30 percent), according to RealtyTrac.
Thursday, May 30, 2013
Monday, May 6, 2013
10 Ways to Reduce Housing Costs in Retirement.....
Housing costs make up one-third of the average American household's budget, the largest monthly expense for most families. And since reducing living costs is the most common way to make ends meet in retirement, it makes sense to take a hard look at your housing costs and what you can do to reduce them.
The secret that will make -- or break -- your retirement Your home equity: How to use it for retirement security Retirement planning outside the box: Move out of the suburbs How to retire with no retirement savings: the "Golden Girls" solution Welcome to Week 12 of my series 16 weeks to plan your retirement. Since most Americans have insufficient savings to fund a traditional retirement, they'll need to look for creative ways to make every dollar count, and finding resourceful ways to lower housing costs will help.
Here are 10 ways to pare your housing budget:
-- Pay off your mortgage before you retire or shortly thereafter. If you're several years away from retirement, consider refinancing with a 15-year fixed mortgage. Interest rates are near all-time lows.
-- Downsize to a smaller house, with reduced bills for utilities, maintenance and property taxes. You might also be able to realize some home equity that can be invested to generate retirement income.
-- Move to a location that enables you to reduce other costs, such as transportation or health care. This could mean moving out of the suburbs and into a city.
-- Move to a less expensive part of the country. There are a number of "best places to retire" websites that you can review to give you some ideas.
-- Move to another country with dramatically reduced living costs. Panama, Costa Rica and some South American and European countries consistently show up on review lists of the best places to live abroad.
-- Rent out a room or two for additional income. This solution works best if you don't want to move and have a large house. After my daughter graduated from college, she rented a room from a retired couple for a year. It was a win-win situation: My daughter had inexpensive housing, and the couple earned some extra spending money.
-- Share housing with other retirees -- what I like to call the "Golden Girls solution." Not only will you share in the cost of housing, but you can also realize savings in regards to your insurance, utilities and even food. Obviously this option isn't for everyone, but don't dismiss it without thinking it through.
-- Consider a reverse mortgage to help you generate retirement income. This solution works for people who own their house and plan to stay for many years. If you didn't or don't plan to buy long-term care insurance, however, I advise keeping your home equity in reserve for a day when you could face high bills for long-term care.
-- Move in with one of your children. Of course, this solution is fraught with emotional issues. Of critical importance for you: How can you make your presence a help to your child's family instead of a burden?
-- Sell your home, and rent something that better fits your needs, such a place with less square footage or one that's part of a senior community. You can use a "buy versus rent" calculator to analyze this possibility; these calculators compare all housing costs when either buying or renting, including the best use of the assets you'd apply for a down payment on a house, and your expectations for rent increases and home appreciation. To analyze this solution as a retiree who currently owns a home, estimate the amount of money you'd realize from selling your house, after subtracting selling costs, and use that as the theoretical down payment on a smaller, downsized house. Then compare that option to the cost of renting a home or apartment.
I realize that some of these ideas may not work or be desirable for everybody. For example, not many people will want to live abroad, and many will want to live close to their children (but maybe not too close!). Or you might find it undesirable to share housing. But if you reach retirement age with inadequate savings for a traditional retirement, you don't have many choices: You'll either need to keep working, reduce your living expenses or work out some combination of the two.
I'm always impressed with the creativity of our readers, so if you have helpful solutions to share, please add them in the comment section below.
As with the other steps in this series, it will most likely take more than one week to investigate your housing options. But get started today, and you'll make great progress. You'll feel more confident in your ability to retire as you investigate various ways to make ends meet. And keep in mind that ultimately, the best place to retire is one where you'll be happy and comfortable.
© 2013 CBS Interactive Inc.. All Rights Reserved.
The secret that will make -- or break -- your retirement Your home equity: How to use it for retirement security Retirement planning outside the box: Move out of the suburbs How to retire with no retirement savings: the "Golden Girls" solution Welcome to Week 12 of my series 16 weeks to plan your retirement. Since most Americans have insufficient savings to fund a traditional retirement, they'll need to look for creative ways to make every dollar count, and finding resourceful ways to lower housing costs will help.
Here are 10 ways to pare your housing budget:
-- Pay off your mortgage before you retire or shortly thereafter. If you're several years away from retirement, consider refinancing with a 15-year fixed mortgage. Interest rates are near all-time lows.
-- Downsize to a smaller house, with reduced bills for utilities, maintenance and property taxes. You might also be able to realize some home equity that can be invested to generate retirement income.
-- Move to a location that enables you to reduce other costs, such as transportation or health care. This could mean moving out of the suburbs and into a city.
-- Move to a less expensive part of the country. There are a number of "best places to retire" websites that you can review to give you some ideas.
-- Move to another country with dramatically reduced living costs. Panama, Costa Rica and some South American and European countries consistently show up on review lists of the best places to live abroad.
-- Rent out a room or two for additional income. This solution works best if you don't want to move and have a large house. After my daughter graduated from college, she rented a room from a retired couple for a year. It was a win-win situation: My daughter had inexpensive housing, and the couple earned some extra spending money.
-- Share housing with other retirees -- what I like to call the "Golden Girls solution." Not only will you share in the cost of housing, but you can also realize savings in regards to your insurance, utilities and even food. Obviously this option isn't for everyone, but don't dismiss it without thinking it through.
-- Consider a reverse mortgage to help you generate retirement income. This solution works for people who own their house and plan to stay for many years. If you didn't or don't plan to buy long-term care insurance, however, I advise keeping your home equity in reserve for a day when you could face high bills for long-term care.
-- Move in with one of your children. Of course, this solution is fraught with emotional issues. Of critical importance for you: How can you make your presence a help to your child's family instead of a burden?
-- Sell your home, and rent something that better fits your needs, such a place with less square footage or one that's part of a senior community. You can use a "buy versus rent" calculator to analyze this possibility; these calculators compare all housing costs when either buying or renting, including the best use of the assets you'd apply for a down payment on a house, and your expectations for rent increases and home appreciation. To analyze this solution as a retiree who currently owns a home, estimate the amount of money you'd realize from selling your house, after subtracting selling costs, and use that as the theoretical down payment on a smaller, downsized house. Then compare that option to the cost of renting a home or apartment.
I realize that some of these ideas may not work or be desirable for everybody. For example, not many people will want to live abroad, and many will want to live close to their children (but maybe not too close!). Or you might find it undesirable to share housing. But if you reach retirement age with inadequate savings for a traditional retirement, you don't have many choices: You'll either need to keep working, reduce your living expenses or work out some combination of the two.
I'm always impressed with the creativity of our readers, so if you have helpful solutions to share, please add them in the comment section below.
As with the other steps in this series, it will most likely take more than one week to investigate your housing options. But get started today, and you'll make great progress. You'll feel more confident in your ability to retire as you investigate various ways to make ends meet. And keep in mind that ultimately, the best place to retire is one where you'll be happy and comfortable.
© 2013 CBS Interactive Inc.. All Rights Reserved.
Sunday, April 21, 2013
Unique idea for a Single Serving of a Chocolate Chip Cookie
For those days you just want to make one cookie.....
1 tbsp. butter, melted 1 tbsp. white sugar ... 1 tbsp. brown sugar 3 drops of vanilla pinch of salt 1 egg yolk 1/4 c. flour 2 tbsp. chocolate chips
MICROWAVE 40-60 SEC IN A CUP OR BOWL. {single serving} deep dish chocolate chip cookieSee More
1 tbsp. butter, melted 1 tbsp. white sugar ... 1 tbsp. brown sugar 3 drops of vanilla pinch of salt 1 egg yolk 1/4 c. flour 2 tbsp. chocolate chips
MICROWAVE 40-60 SEC IN A CUP OR BOWL. {single serving} deep dish chocolate chip cookieSee More
Green Kitchen Countertops: 3 Eco-Friendly Choices
Save money over granite and be kind to your home planet. How? Pick a green kitchen countertop material when you remodel your kitchen.
Perhaps the most luring kitchen improvement (http://www.houselogic.com/home-improvement/rooms/kitchens/) is replacing countertops. If you're replacing your kitchen countertops, it's smart to go green whether you're on a tight budget or can afford something luxe. These days, sustainable materials are just as good-looking as traditional countertops like granite or quartz, so making a green choice won't ding your home's resale value. What's green? Green kitchen countertops feature recycled or sustainable content, low-toxicity binders, eco-friendly manufacturing processes, or a combination. Local production is good, too, if you can arrange it, because transporting countertops is a big fuel-guzzler.
But the most important thing is to pick something durable-if you never have to buy new countertops again, that's as green as it gets.
These three green kitchen countertop options earn high marks for durability and style. And for value, compare them to the ubiquitous slab granite, which costs $60 to $100 per sq.ft. 1. Recycled paper countertops
Cost Starts at $30/sq ft And, easy install = labor savings Lifespan TBD because new on the scene, but likely a long time. It may seem counterintuitive to use paper for a countertop, but when you bind paper fibers with resin, it makes a surface that's tough as nails. What's more, they tend to be easy to install. Since installation can equal 80% of your total cost, expect to save on labor. •PaperStone (http://www.paperstoneproducts.com) is a brand that meets Forest Stewardship Council certification requirements for materials made with sustainable forest management practices and is VOC-free.
•Squak Mountain Stone (http://www.squakmountainstone.com) is made from recycled paper, recycled glass, reclaimed fly ash, and cement; the finished countertop slabs resemble limestone and soapstone.
•EcoTop (http://www.kliptech.com/) countertops consist of renewable bamboo fiber, post-consumer recycled paper, and water-based resin glue.
2. Reclaimed wood countertops
Cost Starts at $40/sq ft Lifespan Lifetime Reuse trumps recycling when it comes to conserving resources because it keeps products from entering the waste stream. So salvaged wood countertops are green by definition. Purchase them directly at a local salvage supply or through a manufacturer that uses reclaimed materials.
Starting at $40 per sq.ft., manufactured countertops made from reclaimed wood are typically more expensive than regular butcher block.
Wood's a beauty. But it's prone to water damage, needs occasional re-sealing (or frequent applications of mineral oil, which can be a hassle), and shouldn't be installed directly next to a sink or dishwasher. So you'll need to budget for a second material to use in your kitchen. •Craft-Art (http://www.craft-art.com) includes a line of wood countertops made of reclaimed wood from older barns, warehouses, and commercial buildings.
•Endurawood (http://www.endurawood.com) fashions wood countertops from reclaimed fir and oak, including old wine vats.
3. Recycled glass countertops Recycled glass is gorgeous and tough (you can actually set hot pots directly on it)-but you'll pay a price comparable to slab granite, starting at around $50 per sq.ft. and going much higher. •Vetrazzo (http://www.vetrazzo.com) makes countertops that are 85% recycled glass. Almost all the glass comes from curbside recycling programs.
•IceStone (http://www.icestone.biz), which is 100% recycled glass in a cement substrate, meets Cradle to Cradle (http://www.mbdc.com/services/cradle-to-cradle-certified-consulting/) gold certification standards, meaning the products contain no problematic chemicals, the materials can be reutilized, and 50% of manufacturing was done with reusable energy.
Article From HouseLogic.com
By: John Riha Published: November 06, 2010 Karin Beuerlien contributed to this article.
Perhaps the most luring kitchen improvement (http://www.houselogic.com/home-improvement/rooms/kitchens/) is replacing countertops. If you're replacing your kitchen countertops, it's smart to go green whether you're on a tight budget or can afford something luxe. These days, sustainable materials are just as good-looking as traditional countertops like granite or quartz, so making a green choice won't ding your home's resale value. What's green? Green kitchen countertops feature recycled or sustainable content, low-toxicity binders, eco-friendly manufacturing processes, or a combination. Local production is good, too, if you can arrange it, because transporting countertops is a big fuel-guzzler.
But the most important thing is to pick something durable-if you never have to buy new countertops again, that's as green as it gets.
These three green kitchen countertop options earn high marks for durability and style. And for value, compare them to the ubiquitous slab granite, which costs $60 to $100 per sq.ft. 1. Recycled paper countertops
Cost Starts at $30/sq ft And, easy install = labor savings Lifespan TBD because new on the scene, but likely a long time. It may seem counterintuitive to use paper for a countertop, but when you bind paper fibers with resin, it makes a surface that's tough as nails. What's more, they tend to be easy to install. Since installation can equal 80% of your total cost, expect to save on labor. •PaperStone (http://www.paperstoneproducts.com) is a brand that meets Forest Stewardship Council certification requirements for materials made with sustainable forest management practices and is VOC-free.
•Squak Mountain Stone (http://www.squakmountainstone.com) is made from recycled paper, recycled glass, reclaimed fly ash, and cement; the finished countertop slabs resemble limestone and soapstone.
•EcoTop (http://www.kliptech.com/) countertops consist of renewable bamboo fiber, post-consumer recycled paper, and water-based resin glue.
2. Reclaimed wood countertops
Cost Starts at $40/sq ft Lifespan Lifetime Reuse trumps recycling when it comes to conserving resources because it keeps products from entering the waste stream. So salvaged wood countertops are green by definition. Purchase them directly at a local salvage supply or through a manufacturer that uses reclaimed materials.
Starting at $40 per sq.ft., manufactured countertops made from reclaimed wood are typically more expensive than regular butcher block.
Wood's a beauty. But it's prone to water damage, needs occasional re-sealing (or frequent applications of mineral oil, which can be a hassle), and shouldn't be installed directly next to a sink or dishwasher. So you'll need to budget for a second material to use in your kitchen. •Craft-Art (http://www.craft-art.com) includes a line of wood countertops made of reclaimed wood from older barns, warehouses, and commercial buildings.
•Endurawood (http://www.endurawood.com) fashions wood countertops from reclaimed fir and oak, including old wine vats.
3. Recycled glass countertops Recycled glass is gorgeous and tough (you can actually set hot pots directly on it)-but you'll pay a price comparable to slab granite, starting at around $50 per sq.ft. and going much higher. •Vetrazzo (http://www.vetrazzo.com) makes countertops that are 85% recycled glass. Almost all the glass comes from curbside recycling programs.
•IceStone (http://www.icestone.biz), which is 100% recycled glass in a cement substrate, meets Cradle to Cradle (http://www.mbdc.com/services/cradle-to-cradle-certified-consulting/) gold certification standards, meaning the products contain no problematic chemicals, the materials can be reutilized, and 50% of manufacturing was done with reusable energy.
Article From HouseLogic.com
By: John Riha Published: November 06, 2010 Karin Beuerlien contributed to this article.
Wednesday, March 6, 2013
10 Foolproof Vegetables for Container Gardening
Want fresh veggies but don’t have a back 40, the time, or the know-how for a full-size vegetable plot? Container vegetable gardening is the answer.
Top reasons to grow veggies in containers
Minimal space needed hardly any weeds no back strain watering is easy growing your own food saves money Mary Moss-Sprague, master gardener and author of Stand Up and Garden (Countryman Press, 2012), grows all her vegetables in containers after a disease ran rampant through her garden soil and decimated her tomato plants -- a non-problem with containers because they don’t share soil.
“I’m never going back to growing things in the ground,” she says.
Tips for container gardening
Containers: Any container will do, as long as it’s deep enough for the plant (check the seed packet). Just drill ½-inch drainage holes in the bottom.
Moss-Sprague suggests snagging 5-gallon food buckets from your grocery store or deli, or asking your neighborhood garden center for 5- to 7-gallon grower’s pots — both are free. Before using, wash out the container with a gallon of water mixed with a cup of chlorine bleach to kill off any lingering bacteria.
Soil: All-purpose soil is pretty goof-proof. But don’t use topsoil -- it won’t work because it doesn’t have the required nutrients.
Plants: Read instructions on the seedling or seed packet first. The same rules for sun, watering, space, and hardiness zones apply to container vegetables.
Top 10 container vegetables
1. Tomatoes: All kinds do well in pots. Try grape and cherry varieties for easy growing -- their small size makes them easy to handle. Put up a trellis because they love to climb.
Pros: Growing them in containers makes them a snap to water because it’s easier to get under their leaves; cherry tomatoes produce quickly. Cons: Don’t seed directly in container -- young tomato plants need specific growing conditions to get started, which can be tricky; buy seedlings instead. 2. Peppers: Bell and chili peppers are good container contenders. Peppers can be picky when starting out, so plant seedlings instead of seeds.
Pros: Red mini bell peppers are quick producers -- about 2 months until they’re ready to eat. Cons: You’ll need some patience -- regular peppers take up to 3 months to mature. 3. Lettuce: Any kind of lettuce will grow in pots. You can seed directly in the pot.
Pros: Huge selection to choose from, and you can plant different varieties in the same container — a beautiful look. Cons: They need full sun — you might have to move your containers around to ensure good exposure. 4. Spinach: All different varieties really thrive in containers. Scatter the seeds and thin them out as they grow.
Pros: You can trim off the leaves when you want them and they’ll just keep growing more. Cons: Good drainage is really important for spinach; it prefers sunny days and cool nights. 5. Radishes: French Breakfast, White Icicle, and Short Cherry Bell are three varieties to try. Plant 1 to 2 inches between, and thin as they grow.
Pros: Super quick! About 25 days and they’re ready to crunch. Cons: They don’t like heat -- if you live in a hot zone, look for varieties that are heat-resistant, or grow in the spring and fall. 6. Green onions: Very pretty and very easy to grow.
Pros: They don’t take much room and are easy to manage -- they like sun, but be sure to wait until the danger of frost has passed before planting. Cons: They take a couple of months until they’re ready. 7. Carrots: Any type of carrot will work in containers -- when they’re ready to harvest, soak the container with water first to making pulling easier.
Pros: There are many types to choose from; “kaleidoscope” mixes come with a variety of flavors and beautiful colors. Cons: Some will take up to 80 days until they’re ready; if you’re an impatient gardener, look for quick-maturing types, such as Touchon and Little Finger. 8. Swiss chard: Seed directly in your container and trim leaves as needed — they’ll continue to produce. Chard is tastiest when it’s young.
Pros: Very durable plant that tolerates warmth. Cons: Getting your kids to eat it (unusual flavors). 9. Cucumbers: Another good plant for impatient gardeners, cukes add crunch to summer salads and sandwiches.
Pros: Quick to germinate and quick to grow. Cons: They need sturdy support posts or a trellis so the plants have somewhere to climb. Or try smaller, less-heavy bush cucumbers. 10. Green beans: So easy to grow, you can put your kids in charge.
Pros: Quick growers and you’ll have a bumper crop if you pick regularly — they’ll just keep growing more. Cons: Climbing beans — called pole beans — grow 5 to 6 feet, so stick to bush beans, which hit 1-2 feet on sturdy, self-supporting stems.
By: Danielle Beurteaux
Top reasons to grow veggies in containers
Minimal space needed hardly any weeds no back strain watering is easy growing your own food saves money Mary Moss-Sprague, master gardener and author of Stand Up and Garden (Countryman Press, 2012), grows all her vegetables in containers after a disease ran rampant through her garden soil and decimated her tomato plants -- a non-problem with containers because they don’t share soil.
“I’m never going back to growing things in the ground,” she says.
Tips for container gardening
Containers: Any container will do, as long as it’s deep enough for the plant (check the seed packet). Just drill ½-inch drainage holes in the bottom.
Moss-Sprague suggests snagging 5-gallon food buckets from your grocery store or deli, or asking your neighborhood garden center for 5- to 7-gallon grower’s pots — both are free. Before using, wash out the container with a gallon of water mixed with a cup of chlorine bleach to kill off any lingering bacteria.
Soil: All-purpose soil is pretty goof-proof. But don’t use topsoil -- it won’t work because it doesn’t have the required nutrients.
Plants: Read instructions on the seedling or seed packet first. The same rules for sun, watering, space, and hardiness zones apply to container vegetables.
Top 10 container vegetables
1. Tomatoes: All kinds do well in pots. Try grape and cherry varieties for easy growing -- their small size makes them easy to handle. Put up a trellis because they love to climb.
Pros: Growing them in containers makes them a snap to water because it’s easier to get under their leaves; cherry tomatoes produce quickly. Cons: Don’t seed directly in container -- young tomato plants need specific growing conditions to get started, which can be tricky; buy seedlings instead. 2. Peppers: Bell and chili peppers are good container contenders. Peppers can be picky when starting out, so plant seedlings instead of seeds.
Pros: Red mini bell peppers are quick producers -- about 2 months until they’re ready to eat. Cons: You’ll need some patience -- regular peppers take up to 3 months to mature. 3. Lettuce: Any kind of lettuce will grow in pots. You can seed directly in the pot.
Pros: Huge selection to choose from, and you can plant different varieties in the same container — a beautiful look. Cons: They need full sun — you might have to move your containers around to ensure good exposure. 4. Spinach: All different varieties really thrive in containers. Scatter the seeds and thin them out as they grow.
Pros: You can trim off the leaves when you want them and they’ll just keep growing more. Cons: Good drainage is really important for spinach; it prefers sunny days and cool nights. 5. Radishes: French Breakfast, White Icicle, and Short Cherry Bell are three varieties to try. Plant 1 to 2 inches between, and thin as they grow.
Pros: Super quick! About 25 days and they’re ready to crunch. Cons: They don’t like heat -- if you live in a hot zone, look for varieties that are heat-resistant, or grow in the spring and fall. 6. Green onions: Very pretty and very easy to grow.
Pros: They don’t take much room and are easy to manage -- they like sun, but be sure to wait until the danger of frost has passed before planting. Cons: They take a couple of months until they’re ready. 7. Carrots: Any type of carrot will work in containers -- when they’re ready to harvest, soak the container with water first to making pulling easier.
Pros: There are many types to choose from; “kaleidoscope” mixes come with a variety of flavors and beautiful colors. Cons: Some will take up to 80 days until they’re ready; if you’re an impatient gardener, look for quick-maturing types, such as Touchon and Little Finger. 8. Swiss chard: Seed directly in your container and trim leaves as needed — they’ll continue to produce. Chard is tastiest when it’s young.
Pros: Very durable plant that tolerates warmth. Cons: Getting your kids to eat it (unusual flavors). 9. Cucumbers: Another good plant for impatient gardeners, cukes add crunch to summer salads and sandwiches.
Pros: Quick to germinate and quick to grow. Cons: They need sturdy support posts or a trellis so the plants have somewhere to climb. Or try smaller, less-heavy bush cucumbers. 10. Green beans: So easy to grow, you can put your kids in charge.
Pros: Quick growers and you’ll have a bumper crop if you pick regularly — they’ll just keep growing more. Cons: Climbing beans — called pole beans — grow 5 to 6 feet, so stick to bush beans, which hit 1-2 feet on sturdy, self-supporting stems.
By: Danielle Beurteaux
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