To get the latest, go here: http://www.youtube.com/kellerwilliams
To get your home value and search for homes in Illinois, go to My Website.
To get the latest, go here: http://www.youtube.com/kellerwilliams
To get your home value and search for homes in Illinois, go to My Website.
Despite a slight decline in the most recent quarter, the aggregate value of household real estate shows the first year over year gain in 12 quarters. The market value of household real estate as reported in the first quarter of 2010 is $16.5 trillion, up $820 billion since the first quarter of 2009 despite a decline of $65 billion since the fourth quarter of 2009 according to Federal Reserve Flow of Funds data. To put this number into context, Gross Domestic Product (GDP) —the sum of all goods and services produced in the US—in 2009 was $14.3 trillion. This means that the value of real estate assets held by households alone is currently worth 15 percent more than the entire US economy produces in a year. Still, the value of real estate seems to be stabilizing at a level last seen in 2003, meaning that many households have seen a substantial reduction in wealth from the 2006 peak. At its peak, the market value of residential real estate was $22.9 trillion—about 70 percent more than GDP for that year. These numbers are subject to revision. The Federal Reserve uses a weighted repeat-sales index of house prices to assess the market value of household real estate. Weighted repeat-sales price indexes help avoid measurement error found in a pure median price series which captures changes in the value of real estate but also changes in value if the types of properties for sale in one period are different than properties for sale in another period (i.e. larger or smaller; in better or worse locations; older or newer). One drawback of a weighted repeat-sales price index is that it can lead to substantial revision and these revisions can stretch back significantly to the past.
TIPS FOR LOWERING HOMEOWNERS INSURANCE COSTS
REALTOR® Magazine – 2010
1. Review the Comprehensive Loss Underwriting Exchange (CLUE) report on the property you’re interested in buying. CLUE reports detail the property’s claims history for the most recent five years, which insurers may use to deny coverage. Make the sale contingent on a home inspection to ensure that problems identified in the CLUE report have been repaired.
2. Seek insurance coverage as soon as your offer is approved. You must obtain insurance to buy. And you don’t want to be told at closing that the insurer has denied your coverage.
3. Maintain good credit. Insurers often use credit-based insurance scores to determine premiums.
4. Buy your home owners and auto policies from the same company and you’ll usually qualify for savings. But make sure the discount really yields the lowest price.
5. Raise your deductible. If you can afford to pay more toward a loss that occurs, your premiums will be lower. Avoid making claims under $1,000.
6. Ask about other discounts. For example, retirees who tend to be home more than full-time workers may qualify for a discount on theft insurance. You also may be able to obtain discounts for having smoke detectors, a burglar alarm, or dead-bolt locks.
7. Seek group discounts. If you belong to any groups, such as associations or alumni organizations, they may have deals on insurance coverage.
8. Review your policy limits and the value of your home and possessions annually. Some items depreciate and may not need as much coverage.
9. Investigate a government-backed insurance plan. In some high-risk areas, federal or state government may back plans to lower rates. Ask your agent.
10. Be sure you insure your house for the correct amount. Remember, you’re covering replacement cost, not market value.
RISMEDIA, February 11, 2010—More than ever before, home buyers are on the Web and sellers want to sell their homes. What can we, as Realtors, give sellers that they can’t get by going FSBO?
The answer is quite simple: maximum exposure to potential buyers through advanced marketing strategies. By utilizing the MLS, in combination with a targeted Web strategy and search engine positioning, we can offer marketing resources most sellers don’t have to build a website and implement an in-depth strategy to expose their home to the most potential buyers.
Linda Sloss
Keller Williams Fox Valley Realty
630-408-2956
My email: linda.sloss@kw.com
My Website: lindasloss.yourkwagent.com
In hopes of making the process move faster for buyers and sellers alike, Fannie Mae is implementing a new policy. Read HERE for details.
Linda Sloss
Keller Williams Fox Valley
630-408-2956
linda.sloss@kw.com
I hope everyone had a wonderful Thanksgiving, and had time to express thanks to Him Who supplies all our needs for the people and things in our lives. I also hope no one was stranded in an airport. However…if you are ever in that situation, try to do it in one of the places in THIS article. Enjoy!
Linda Sloss, REALTOR, GRI, WCR
Keller Williams Fox Valley Realty
630-408-2956
linda.sloss@kw.com
lindasloss.yourkwagent.com
Here’s an interesting article about homeowners’ perceptions of the current and future values of their homes.
Linda Sloss, REALTOR(R)
Keller Williams Fox Valley
630-408-2956
linda.sloss@kw.com
Homeowner Confidence Out of Whack – But Can you Blame Them?
Print Article RISMEDIA, November 23, 2009
Each quarter, Zillow tracks Homeowner Confidence across the U.S. and more specifically, how homeowners’ perception of their own home’s value compares to reality. The company has seen a lot of changes in the past six quarters, as homeowners have inched closer to reality by acknowledging widespread home value slides. However, the third quarter of 2009 is a different story in both market behavior and homeowner perception.
As individual markets behaved very differently (some improving, some flat, many still continuing to decline), homeowner perception was literally all over the map. And for the first time, one sector of homeowners — those in the Northeast — was overly cynical about home values. Meanwhile in the hardest-hit region of the country, the Western states, homeowners continued to be overly optimistic when evaluating the value of their own homes.
Nationwide, when asked about their own home’s value over the past year: • 25% think their home’s value has increased • 26% think their home’s value has stayed the same • 49% think their home’s value has decreased In reality, 72 percent of U.S. homes lost value over the past year, and 22 percent of homes increased in value. That’s fewer homes declining versus Q2 (83%), and a smaller Misperception Index of 10 (vs. 13 in Q2 and 17 in Q3 2008). A Misperception Index of zero would mean homeowners’ perceptions were in line with actual values.
Here’s how homeowner perception vs. reality looks across the country.
Meanwhile, when asked about future home values, a trend continued that we’ve seen over the past year — a large number of homeowners thinks their home’s value will increase over the coming six months. Or put another way, the vast majority of homeowners – 84 percent – believes their home has reached a bottom and will not decline any further. Specifically: • 41% think their home’s value will increase in the next six months • 43% think their home’s value will stay the same • 17% of homeowners think their home’s value will decrease.
We’ve got a lot of opposing forces in the coming six months that may impact what happens with home values, and it’s getting more and more difficult to predict. On the one hand, increasing foreclosures and, possibly, rising mortgage rates could contribute to further home declines in many parts of the country.
Meanwhile, the extended and expanded homebuyer tax credits have the potential to stimulate demand to counteract these declines. Regardless, it seems some homeowners are assuming a V-shaped recovery to home values (i.e. immediate gains in value) versus the L-shaped recovery (i.e. home values staying flat for some time) most economists predict.
Overly optimistic homeowners? Probably. Confused homeowners? Absolutely. And I don’t blame them one bit.
Around the Home – The Ins and Outs of Recycling
Print Article RISMEDIA, November 21, 2009
According to a recent survey conducted by Plastics Make it Possible, an initiative sponsored by the plastics industries of the American Chemistry Council, nearly 70% of households make an effort to recycle at home. Of those homes that make recycling a priority, more than two out of three rely on the women of the house to serve as the “recycling enforcers.” One out of four families shares the responsibility while only 10% put their kids in charge of recycling duty.
“It’s encouraging to see that more and more Americans are making an effort to recycle at home, but there is still a huge opportunity to educate and motivate the remaining third who don’t,” said Steve Russell, vice president, Plastics Division of the American Chemistry Council. “Many plastics can be easily recycled in most communities and given a second life as carpet, clothing, furniture, backyard decks, new bottles and bags, and other products we use every day.By making it a practice to recycle, people can help make a difference on America Recycles Day (November 15) and every day of the year.”
Where do the plastic bottles you throw in the recycling bin and the plastic bags you take back to the grocery store end up? Though recycled plastics might be out-of-mind as soon as they are placed in a recycling bin, they are far from out-of-sight. Most people use “second life” plastics in their homes or cars everyday – and many of us may even be wearing them. According to the survey, 82% of Americans know that recycled plastic water bottles can be used to make a variety of items such as lumber for homes and decks, car bumpers, life jackets, sails for boats, rope and even fashionable t-shirts. To encourage consumers to recycle more, Plastics Make it Possible(SM) provides the following tips for reusing and recycling everyday plastics.
Find out which plastics are accepted for recycling in your community and where they can be taken. Though recycling options vary, most community curbside programs collect plastic bottles and many grocery and retail chains now offer bins to collect used plastic bags and wraps for recycling.An increasing number of communities are also collecting rigid containers like yogurt and butter tubs.
Know what to recycle with your bottles. A “bottle” is any container with a neck or opening that’s smaller than its base and includes milk jugs, beverage containers, bottles from salad dressing, oil and other condiments, food jars for items like peanut butter and mayonnaise, and bottles from shampoo, toiletries, laundry detergent and household cleaners.
Know what to recycle with your bags at grocery stores. When you recycle your bags, include all plastic bags from grocery, retail and dry cleaning stores, plastic bags that cover newspapers, and product wraps from paper towels, napkins, bathroom tissue and diapers.
Clean and empty. Before tossing them in the recycle bin, make sure bottles are appropriately rinsed and that caps are removed. -Bring bottles back to the bin. When bottles are emptied away from home, store them in a backpack or briefcase, or simply leave them in the car until arriving home to place in a recycle bin.
Store bags in a bag. Storing plastic bags and wraps in a plastic bag offers neat, convenient storage. Simply knot the handles when you’re ready to drop them off at your local grocer or retailer. -Reuse those bags. From trash can liners to pet pick-up, plastic bags can be used dozens of ways. -Pitch in beyond the kitchen. While many recyclable bottles and bags come from the kitchen, don’t forget to check the bathrooms and laundry room for shampoo and detergent bottles and reuse your plastic bags as trash can liners throughout the house.
When in doubt, leave it out. Be careful not to contaminate your recyclables with garbage or items that aren’t recycled in your area.
Bridge the second generation gap. It’s important to remember that recycled plastics go on to become second generation products like carpet, fleece jackets and new bottles and bags. For more inftion, visit www.americanchemistry.com.
RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com. Read more: http://rismedia.com/2009-11-21/around-the-home-the-ins-and-outs-of-recycling/#ixzz0XW7TNlXN
Linda Sloss, Realtor
Keller Williams Fox Valley Realty
630-408-2956
linda.sloss@kw.com
During the week of November 10-16 I was in San Diego attending the National Conferences for the National Association of Realtors (NAR) and the Women’s Council of Realtors (WCR). There was a plethora of information poured into the attendees. On Saturday night NAR’s outgoing president, Charles McMillan, and former Secretary of State Condoleeza Rice graced the stage. This link is a great overview of the evening. Enjoy!
http://www.realtor.org/RMODaily.nsf/pages/News2009111602?OpenDocument
Linda Sloss, Realtor
Keller Williams Fox Valley Realty
630-408-2956
linda.sloss@kw.com
Happy Thanksgiving, everyone. Be sure to actually give thanks to the One who provides.
http://rismedia.com/2009-11-19/getaways-tips-for-safe-thanksgiving-travel/
Linda Sloss, Realtor
Keller Williams Fox Valley Realty
630-408-2956
linda.sloss@kw.com
