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September 2008

1 --Labor Day
2 -- Victory (V-J) Day
11 -- Patriot Day
15 -- Full Moon Day
22 -- Autumn
22 -- Family Day

First Time Buyer Tax Credit & Real Estate Blog!

Dear Friends,

A government that is big enough to give you all you want is big enough to take it all away.
-- Barry Goldwater

Existing-Home Sales Projected to Improve

According to a mid-August report by the National Association of Realtors®, some improvement is projected for existing-home sales in the months ahead, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently passed housing stimulus bill.

The Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in June, rose 5.3 percent to 89.0 from a downwardly revised reading of 84.5 in May, but remains 12.3 percent below June 2007 when it stood at 101.4.

“The vacillation of data from one month to the next indicates a housing market in transition,” said NAR Chief Economist Lawrence Yun, adding that sales have been in a pattern of rising and falling within a fairly narrow range. “The rise in pending home sales was broad-based with all four regions showing gains. This is welcome news because a rise in contract activity is necessary for an overall housing recovery. With a tax credit now available to first-time home buyers, increases in home sales could be sustained with the momentum carrying into 2009.”

The PHSI in the South jumped 9.3 percent to 92.4 in June; rose 4.6 percent to 101.0 in the West; increased 3.4 percent to 79.6 in the East; and inched upward 1.3 percent to 79.6 in the Midwest.

“Buyers entering the hardest-hit markets, in some cases with multiple-bid offers, may have put a floor on prices,” said Yun, adding that home prices did not fall as much as anticipated in the second quarter. "In addition, rising commodity prices and higher construction costs have resulted in a very unusual market today with existing-home prices being less than replacement building costs in some areas. Home prices are projected to increase 3 to 6 percent in 2009.”

The 30-year fixed-rate mortgage is expected to trend up to 6.5 percent by the end of 2008, and then hold at that level for most of next year, the report said.

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That which seems the height of absurdity in one generation often becomes the height of wisdom in another.
-- Adlai Stevenson

7 Tips to Consider Before Getting a Pet

1. Consider your lifestyle and how much time you and your family have to devote to a pet. Dogs are needy (walking, grooming), a fish is easy, and a cat is somewhere in between.
2. How much space do you have? Big dogs, pigs, donkeys and goats need a lot of room. Cats, birds, rabbits, turtles, lizards and guinea pigs require little space.
3. If you have never owned the type of pet you are considering, do some research. All pet-types are not the same. A German Shepherd is a totally different animal than a Maltese.
4. Do you want a baby or an adult? Babies will require training, whereas an adult or adopted pet may be already housebroken.
5. Consider the costs. Even if you get your pet for free, the cost of food, grooming and other supplies (kitty litter, bedding, pet toys) can add up. In addition, most pets will require an occasional trip to the vet.
6. Is the pet you're considering compatible with any existing pets?
7. Is anybody in the family allergic to the pet you're considering? You may want to pet-sit for a weekend or visit family or friends with the same kind of pet to make sure.

Great minds have purposes, others have wishes.
-- Washington Irving

Area Schools Affect Home Values

You've most likely heard that location, location, location is the most important factor in real estate. While this may be true, another important factor to consider as you try to find the best neighborhoods for resale value is the quality of the local school system. Even if you don’t have children, it would be prudent to research the closest schools before purchasing a home.

By placing a call to the local school district, you should be able to find out what type of funding area students receive, what the average class size is, and how well students have performed on standardized tests. In addition, find out if they offer any special programs, what percentage of students graduate and go on to college, and whether or not the district will be opening or closing any schools in the near future.

For many prospective home buyers with children (or plan to), the quality and reputation of the local school system may be as critical to their buying decision as the appeal of the home itself. Regardless of where the home is located, the quality and reputation of the schools will affect the home's value, not only when you buy, but when you sell.

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Most folks are about as
happy as they make up their minds to be.
-- Abraham Lincoln

Tankless Water Heaters Make Good Sense

If your current water heater is on its last leg, or you've decided you need a better unit to suit your needs, consider a tankless water heater when you go shopping.

Tankless water heaters can save energy and money and deliver an endless flow of hot water. While a conventional tank-style water heater continuously stores 40 to 80 gallons of water and keeps it hot until it’s needed, a tankless water heater only heats water when it's needed. Obviously, keeping 40 to 80 gallons of water hot 24 hours a day, seven days a week, month after month, wastes considerable energy.

Instead of continuously heating a large tank of water, a tankless water heater circulates incoming water through a series of electric coils or gas burners that heat up automatically when you turn on a hot water tap or appliance. When you turn off the faucet, the elements or burners turn off. In other words, you're only burning energy when you have a demand for hot water.

There are several varieties of tankless water heaters, from small electric point-of-use models (for use at a specific location, such as a kitchen or bathroom sink) to larger gas appliances that supply the entire house. Point of use models start around $150 and larger units capable of supplying more hot water start around $750.

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You learn something every day if you pay attention.
-- Ray LeBlond

Ever Tried a Country Wine?

Did you know not all wines are made from grapes? While grapes are the number one choice for commercial wineries, fruit wines, also known as country wines, make delicious wines as well. Fruit wines are fermented alcoholic beverages made from a variety of ingredients other than grapes and have a long and respected history. Plum wine has been made in China and Japan for centuries, and nearly every country in the world and all 50 states have at least one winery producing fruit wines.

There are generally two approaches when making fruit wines. One is to produce fruit wines that imitate the flavor and appearance of grape wines; some fruit wines that resemble grape wines include plum, elderberry, blackcurrant, peach, blackberry and huckleberry. The other approach is to produce a true country wine that brings out the delicious essence of the natural berries, apples, pears and other raw materials used. Other fruits (even vegetables) often used include apricot, banana, blueberry, cherry, raspberry, pineapple, strawberry, watermelon, potato, rhubarb and other fresh local produce.

Fruit wine producers use many of the same techniques as grape wine producers, though more adjustments are often necessary to balance the quantities of sugar, acid, tannin, yeast, water and other ingredients to produce a stable, drinkable wine. The first step is to get rid of the stalks and wash the fruit, often using a machine. Next, a crusher separates the juice from the skins and the liquid is put into a fermentation vat, and yeast is sometimes added. Then, the wine goes through the normal fermentation processes; most fruit wines are ready to enjoy within three months, but others require as long as a year before they develop good character.

If you haven't tried a country wine, jump online and search for your local fruit wine producer. While it's probably very different than what you are accustomed to, you'll likely enjoy and appreciate the final product. It is, after all, wine.

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September Movie Releases

• Sept. 5
  • Bangkok Dangerous
  • Everybody Wants to Be Italian
• Sept. 12
  • Burn After Reading
  • Righteous Kill
  • Tyler Perry's The Family That Preys
  • The Women
• Sept. 19
  • Ghost Town
  • Igor
  • Lakeview Terrace
  • My Best Friend's Girl
• Sept. 26
  • Blindness
  • Choke
  • Eagle Eye
  • Fireproof
  • Miracle at St. Anna
  • Nights in Rodanthe
  • The Lucky Ones

A vacation is what you take when you can no longer take what you've been taking.
-- Earl Wilson

Pack Smart and Save Money

Now that many airlines are charging to check your luggage it makes more sense than ever to just "carry-on." The problem is fitting a week or more worth of clothing into a 22-inch suitcase. Nearly 90 percent of all domestic airlines will allow a bag that is 22 x 14 x 9; the external pockets are included in this dimension. In addition to one carry-on bag, you are allowed one "personal Item" which can include a briefcase, purse, or a small book-bag-style backpack. Following are some tips to help you maximize your space:

1. When beginning to pack, make a list of the clothing you will need. Try to mix and match items that you can wear more than once. Limit yourself to two pairs of shoes. If an item is not on the list, don't pack it. Make sure all items are buttoned and zipped. Place all toiletries, such as lotions and shampoos, in a clear zip lock bag. No liquids can exceed 3 ounces. Pack your shoes first, placing the soles of the shoes flat against the walls of the luggage.
2. Place a zip lock bag full of your undergarments in the center (later you can use the bag to separate the ones you haven't worn yet), along with the bag of toiletries. When packing clothing, start with your pants. Lay them lengthwise across the suitcase, placing the waistband against the edge and letting the ends hang out over the side. Place the second pair on top with the waist band at the opposite edge. Continue to alternate sides.
3. Pack your shirts by laying them out flat widthwise with the collar against the edge and the bottom hanging out. The next shirt should have the bottom on the edge and the collar hanging out. All of your clothing should be layered on top in the same fashion until you are done.
4. Fold in the clothing all together and cinch down the straps. This technique is called bundling and it really does allow you to fit more into a small space while keeping your clothes from wrinkling. Happy travels!

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Fortune brings in some boats that are not steered.
-- William Shakespeare

Sony DVP-FX820 Portable DVD Player

• 8-inch LCD widescreen monitor
• High-resolution type (800 x 480 resolution)
• 180 swivel and flip monitor
• 2 headphone outputs to share audio
• Dual sensor for remote control
• DVD/DVD-RW/DVD-R/DVD+RW/DVD+R/DVD+R DL, CD, MP3 and JPEG playback
• AC and car adapter included

The player is lightweight and compact, yet durable. Priced around $180.

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Just Listed in Fuquay Varina

Currently listed with Linda Trevor, is the ideal home for the Buyer desiring some additional space for hobbies, recreational vehicles or even a workshop. This home features an additional 24x30 second garage equipped with electricity and a heating/cooling system.   Beautifully landscaped on a large corner lot this 1.5 story has 3 bedrooms, 2 full baths, formal living and dining areas, luxury master suite, finished bonus and sunroom. Come tour this delightful home located in Fuquay Varina in the Village of Sippihaw.

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RE/MAX United
51 Kilmayne Drive Suite 100
Cary, NC 27511

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