Kim’s Forecast 2012

Did you know that it is a big myth that that houses do not sell during the winter months? Sellers who wait until spring to list their homes become another property on the market to choose from. Let’s highlight a few reasons why we encourage sellers to list their homes or keep them on the market through the Holidays and the winter months, and not wait until spring.

There are statistically fewer homes on the market than there will be in spring. This means that a home for sale now is one of a few rather than one of many. Having your home listed in the winter means there is less competition, so you will stand out and chances are, sell your home during this period rather than waiting three months into spring and maybe summer.

During the winter months many buyers that have not purchased in the previous months do not stop looking. The buyers are still out there and they are ready to buy.

Typically buyers that are out shopping for houses in the winter months are motivated. If you do not have your home on the market when these buyers are looking, you are losing a valuable opportunity and the potential to get your home sold.

If you are a homeowner who is thinking about selling in the spring, think again. Don’t miss this winter window of opportunity to get your home sold.

Last night Congress restored the loan limits for FHA for two years. In late September the FHA and Fannie/Freddie Loan Limits were reduced in 42 states pricing potential home buyers out of the American Dream of home ownership and holding back the housing recovery.

National Association of Realtors immediately went to work with the goal to get the loan limits restored in Congress. For weeks that goal seemed unlikely. REALTORS® along with NAR leadership and Government Affairs team in D.C. worked to educate Congress that well-qualified buyers didn’t need yet another hurdle to access affordable mortgage financing.

The reinstated FHA loan limit formula and cap change will help make mortgages more affordable and accessible for hard-working, middle-class families in 669 counties in 42 states and territories, where the average loan limit reduction after the reset last month was more than $68,000. The provision reinstates the FHA loan limits through 2013 at 125 percent of local area median home prices, up to a maximum of $729,750 in the highest cost markets. The floor will remain at $271,050. However, Congress chose not to apply the loan limits restoration to Fannie and Freddie. Fannie and Freddie backed mortgages will remain at 115 percent of local area median home prices up to $625,500.

The bill also provides for a short-term extension of the National Flood Insurance Program through December 16, 2011. NAR will continue to press Congress to use the additional time to complete their work on a five-year reauthorization of the program, which ensures access to affordable flood insurance for millions of home and business owners across the country.

Progress is being made on the behalf of all home owners. This is Golden news for home buyers and sellers!

The above graphic is a visual representation of the number of Bank Owned and Short Sales in Lane County according to the RMLS™ system during the first half of 2011. The top half shows new listings and sales from January through June 2011, while the bottom half shows new listings and sales by quarter.

Certain home maintenance tasks should be completed each season to prevent structural damage, save energy, and keep all your home’s systems running properly.

Preparing for the Fall and Winter in the Pacific Northwest means gearing up for wet weather. Fall is when the rain starts in earnest, is when it is important to take steps to prevent moisture problems at the beginning of the season.

Key Maintenance Tasks:

• Check your drainage. In early fall, when the weather is still nice, walk around the house and inspect the ground where it meets the foundation. Soil should not be touching siding and should slope away from the house.
• Clean gutters. It’s imperative that your gutters are ready for the heavy workout they’ll receive from winter rains. Most homeowners in the Pacific Northwest will need to clean their gutters several times during the fall.
• Have your furnace checked and tuned up. Schedule a fall appointment promptly to get your furnace ready for winter (it’s a good idea to have a biannual HVAC service contract so that fall and spring tune-ups are automatic). Check your furnace filters monthly and change them whenever they’re dirty. Inspect and vacuum out the floor grates and return duct regularly, especially if you have children or pets.
• Combat moss on the roof. Fall is the time to apply moss-killing granules or liquid solution to your rooftop.  Be sure to buy the granules that are made especially for roofs, not those for lawns.
• Check weather stripping and caulk on doors and windows. Examine the areas where window, door, and corner trim meets the siding; caulk any gaps. Open doors and check the condition of the weather stripping. If the doors are drafty or the old weather stripping foam is crumbling, remove it and apply new weather stripping.
• Disconnect hoses and winterize your lawn irrigation system
• Prune trees. Contact with trees is bad for roofs and siding; friction and trapped moisture shorten the lifespan of building materials. All major pruning should be when trees are dormant.
• Tackle any landscaping projects and plant perennials, shrubs, and trees, as they’ll have a chance to get established long before dry weather hits.

Spending a weekend or two on maintenance can prevent expensive repairs and alert you to developing problems before they become serious.

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Peter DeFazio and his Wife, Myrnie

The 2nd Annual Realtor Food drive was a huge success this year. We collected a total of 5,072 pounds of food which was about the same amount that we collected last year. The big increase this year was in the amount of money that was donated. Last year we collected roughly $500 in cash donations and this year we increased that amount by 256% with the total cash collected of $1,950.

This is an incredible number as Food For Lane County can take one dollar and stretch it into three meals for the less fortunate and hungry in our communities. The money we collect equates to 5,850 meals.

We are already starting to plan the Third Annual Realtor food drive for next June. Thank you to everyone who gave unselfishly and volunteered their time for the less fortunate in our Community.