Will Home Values Rise This Year?

Noooooooooooooooooo!!! Home sales based on median price will show a decline in 2012. This will be the national trend, there will be a location here and there that will see upside off their lows.

ALL MARKETS HAVE THE OPPORTUNITY TO COME OFF THEIR LOWS.

My crystal ball tells me their are to many headwinds in the countries macroeconomics to boost prices. Their are to many distressed properties on the market that nobody wants. When they are bought they will bring down comparable's with them.  The looming shadow inventory will have to be released at some point. Absorption of the units will take time.

Without the help of  government intervention, and the private sector having little incentive to get involved, at best we will see housing numbers remain the same this year. Still a good time to buy.

Will your home gain value over the next 12 months? Nobody can know for sure, but should recent housing trends continue undulating along the bottom, prices will be flat.

The housing economy has suffered since 2007, knocking home values down nearly 20% nationwide. And while some areas have fared better as compared to others but, in general, home values are down.

Mortgage rates are down, too, and that's good news for buyers in New York. The combination of low rates and low prices has led home affordability to an all-time high. As you'll hear in this 4-minute interview with NBC's The Today Show, carrying a mortgage costs 25% less per month as compared to just 3 years ago.

Some other notes from the interview include :

• There are more buyers out looking for homes today, which leads to more sales
• The housing market is expected to get gradually better, month-by-month, in 2012
• Foreclosures will continue to be a big part of the housing market

With housing supplies shrinking, buyers throughout New York may find their best "deals" today -- before the Spring Buying Season begins in February.

However, we can't forget that housing markets are local -- not national. Each town and neighborhood has its own market drivers and prices where you live may have already started to climb.

For accurate, up-to-date data on the housing market, talk with a local real estate agent.

My phone is ringing of the hook. Anybody remember those old phones?

Till next time

The New York Real Estate Nurse

Using Home Generators? Here's How To Stay Safe.

I want you to be safe. We don't need any death's that could be easily prevented.  Watch the video.


Carbon monoxide is an odorless, colorless, poisonous gas. It kills, more than 400 people die in their homes each year.

Carbon monoxide poisoning is especially common during periods of power outage. This is because homeowners throughout New York fire up their personal home power generators.

Home generators are a leading cause of poisoning by carbon monoxide and, in this 4-minute from NBC's The Today Show, you'll learn about home generators, how they operate, and the safety measures everyone homeowner should undertake.

A few basic home generator safety rules, as described in the interview, include :

• Never modify a generator or its engine
• Keep a 10-foot distance between the generator and your home
• Always point the generator's exhaust away from your home

Furthermore, make sure your home has an ample supply of carbon monoxide detectors, and that they're operational.

One of the video's highlights is a clever illustration employing a vase of water and a dash of red dye. The demonstration shows just how few carbon monoxide particles are required to cause injury and/or death to a person in your household.

Therefore, if you own a home generator, take 4 minutes and watch this video. Safety first is paramount to your health.

Stay safe during these cold winter months.

Till next time

The New York Real Estate Nurse

Fall Fix-Ups For Your Home

It's October and the fall season has officially started. For homeowners throughout New York and nationwide, the change of season is a well-timed, "preventative maintenance" reminder.

As temperatures cool, there are a handful of do-it-yourself projects you should undertake in order to keep your home in tip-top shape through the winter. This 4-minute piece from NBC's The Today Show highlights just a few of them.

Calling it a "Fall Fix-Up Checklist", The Today Show's interview is fast-paced and wide-ranging. Some of the topics covered include :

• Pick up all fallen leaves to limit damage to grass and "critter" invasions
• Unclog gutters to protect windows and foundations
• Turn off outside water sources and remove water from pipes and hoses

The home-tip video also shares how to find air leaks in your home, and how to fix them. Reducing air leaks can lower your home's heating and cooling bills by thousands of dollars annually.

Although the highlighted projects are DIYs, you may feel more comfortable hiring a professional. Know your "handyman limits", and remain safe at all times.

Stay warm or cool where ever you live. Take care of your home.

Till next time

The New York Real Estate Nurse

Capitalize On Low Interest Rates In Overlooked Places

It's no secret. Rates are low right now. And, it's not just mortgage rates, either -- all types of rates are scraping rock-bottom. Borrowing rates, lending rates and savings rates are at or near their all-time lowest levels.

As a homeowner in New York City , one way to capitalize on today's low rates is to apply to refinance your home. But there are other ways to take advantage, too.

In this 5-minute piece from NBC's The Today Show, you'll learn of a half-dozen ways to exploit the current rate environment, including:

• Refinance a car loan from a high rate to a low rate, for cheap, in an hour
• Balance transfers between credit cards with teaser rates lasting up to 20 months
• Move some savings to an "online" bank where savings rates are higher

The interview's theme is to examine both where you're spending and saving your money, and make sure you're doing what's best for your budget.

Federal Reserve Chairman Ben Bernanke has pledged to hold the Fed Funds Rate near 0.000% until at least 2013. So long as the Fed Funds Rate is low, there will be places you can save.

Good luck in saving your hard earned money

Till next time

The New York Real Estate Nurse