It's a tool used by house flippers all across the nation. Stagers know its power. Real estate agents push its importance. What is this not-so-well-kept secret of real estate? A kitchen can sell a house. 

A kitchen is the heart of a home. This is true all across the globe. The old saying that the "stomach is the way to the heart" carries a lot of truth. Kitchens are where we spend much of our time and most of that is with our families. It's the room where we nourish our bodies and our spirits. 

Kitchens are integral to entertaining and in today's age of open floor plans, they're a focal piece of many family rooms. It's because of this that kitchens play such an important role in the buying and selling process. 

This one room is the showpiece of the house. You'll see it every day and your guests will see it during most visits. This means buyers want homes with up-to-date kitchens. 

Kitchens, however, can be one of the most expensive rooms to renovate. These projects can also be the most labor and time intensive of all home renovations. It's not just a new layer of paint. 

Instead you find a complicated array of flooring, tiling, cabinets, and counters. This means buyers may want a home with an up-to-date kitchen but they aren't willing to tackle this problem themselves. Most buyers want a kitchen that is ready to use the day they move in. 

What do buyers look for in up-to-date kitchens? A lot of this depends on what price range your home is in. 

The main thing to remember as a seller is to not price yourself out of your market. If homes in your neighborhood are selling for $100,000 with tidy, but not luxury kitchens, then this is no time to upgrade to granite, travertine, and marble at the price tag of $40,000+. You simply won't find a buyer. 

Scope out the competition. Use open houses in your area or MLS listings to find out what your competitions' kitchens look like. 

Do area homes have new solid wood cabinets and granite counters in today's designer colors? You'll be wise to consider making the same move. Are they including new stainless steel appliances and add-ons like dishwashers, wine-coolers, and trash compactors? 

Are you in a higher-end neighborhood? It's time to think high-end. Your older home may have a highly functional kitchen, but a buyer will take one look at your formica counters and white appliances and become lost in the stress of how much money and time it would take to remodel. If you don't want to put in the time yourself to make upgrades then you'll have to make concessions in the price. 

Don't become overwhelmed, though. Sometimes a kitchen update can mean doing just a few minor changes. Change the paint color to a warm, neutral tone. Get rid of any clutter. Update your appliances, paint your cabinets, change the pulls, or get a high-end looking counter for a fraction of the cost (faux-granite or lower end granite). You might even save a bundle by doing much of the work yourself. 

The bottom line is a kitchen can sell a home. Do a little research and find out what your kitchen needs to make it competitive with area listings.

Click Here for the Source of the Information.

       The fall Equinox is a good time of year to start thinking about preparing your home for winter, because as temperatures begin to dip, your home will require maintenance to keep it in tip-top shape through the winter.

       Autumn is invariably a prelude to falling winter temperatures, regardless of where you live. It might rain or snow or, as David Letterman says, "Fall is my favorite season in Los Angeles, watching the birds change color and fall from the trees." Did you know there is only one state in the United States where the temperatures have never dipped below zero? Give up? It's Hawaii.

Here Are Ten Tips to Help You Prepare Your Home for Winter

1) Furnace Inspection

• Call an HVAC professional to inspect your furnace and clean ducts.
• Stock up on furnace filters and change them monthly.
• Consider switching out your thermostat for a programmable thermostat.
• If your home is heated by a hot-water radiator, bleed the valves by opening them slightly and when water appears, close them.
• Remove all flammable material from the area surrounding your furnace.

2) Get the Fireplace Ready

• Cap or screen the top of the chimney to keep out rodents and birds.
• If the chimney hasn't been cleaned for a while, call a chimney sweep to remove soot and creosote.
• Buy firewood or chop wood. Store it in a dry place away from the exterior of your home.
• Inspect the fireplace damper for proper opening and closing.
• Check the mortar between bricks and tuckpoint, if necessary.

3) Check the Exterior, Doors and Windows

• Inspect exterior for crevice cracks and exposed entry points around pipes; seal them.
• Use weatherstripping around doors to prevent cold air from entering the home and caulk windows.
• Replace cracked glass in windows and, if you end up replacing the entire window, prime and paint exposed wood.
• If your home has a basement, consider protecting its window wells by covering them with plastic shields.
• Switch out summer screens with glass replacements from storage. If you have storm windows, install them.

4) Inspect Roof, Gutters & Downspouts

• If your weather temperature will fall below 32 degrees in the winter, adding extra insulation to the attic will prevent warm air from creeping to your roof and causing ice dams.
• Check flashing to ensure water cannot enter the home.
• Replace worn roof shingles or tiles.
• Clean out the gutters and use a hose to spray water down the downspouts to clear away debris.
• Consider installing leaf guards on the gutters or extensions on the downspouts to direct water away from the home.

5) Service Weather-Specific Equipment

• Drain gas from lawnmowers.
• Service or tune-up snow blowers.
• Replace worn rakes and snow shovels.
• Clean, dry and store summer gardening equipment.
• Sharpen ice choppers and buy bags of ice-melt / sand.

6) Check Foundations

• Rake away all debris and edible vegetation from the foundation.
• Seal up entry points to keep small animals from crawling under the house.
• Tuckpoint or seal foundation cracks. Mice can slip through space as thin as a dime.
• Inspect sill plates for dry rot or pest infestation.
• Secure crawlspace entrances.

7) Install Smoke and Carbon Monoxide Detectors

• Some cities require a smoke detector in every room.
• Buy extra smoke detector batteries and change them when daylight savings ends.
• Install a carbon monoxide detector near your furnace and / or water heater.
• Test smoke and carbon monoxide detectors to make sure they work.
• Buy a fire extinguisher or replace an extinguisher older than 10 years.

8) Prevent Plumbing Freezes

• Locate your water main in the event you need to shut it off in an emergency.
• Drain all garden hoses.
• Insulate exposed plumbing pipes.
• Drain air conditioner pipes and, if your AC has a water shut-off valve, turn it off.
• If you go on vacation, leave the heat on, set to at least 55 degrees.

9) Prepare Landscaping & Outdoor Surfaces

• Trim trees if branches hang too close to the house or electrical wires.
• Ask a gardener when your trees should be pruned to prevent winter injury.
• Plant spring flower bulbs and lift bulbs that cannot winter over such as dahlias in areas where the ground freezes.
• Seal driveways, brick patios and wood decks.
• Don't automatically remove dead vegetation from gardens as some provide attractive scenery in an otherwise dreary, snow-drenched yard.
• Move sensitive potted plants indoors or to a sheltered area.

10) Prepare an Emergency Kit

• Buy indoor candles and matches / lighter for use during a power shortage.
• Find the phone numbers for your utility companies and tape them near your phone or inside the phone book.
• Buy a battery back-up to protect your computer and sensitive electronic equipment.
• Store extra bottled water and non-perishable food supplies (including pet food, if you have a pet), blankets and a first-aid kit in a dry and easy-to-access location.
• Prepare an evacuation plan in the event of an emergency.

Click Here for the Source of the Information.

       With the current real estate market conditions, most people wonder if it is a good time to buy a home. Many also wonder about Buying vs Renting a home. These are both good questions, and they are fair questions. Considering the fact the owning a home is the largest investment that most people will make in their lifetime. In this article, we will go over some of the advantages of buying a home now rather than waiting. We will also go over some facts to see if it is a good time to buy vs rent a home.

“Now could be the best time in history to buy a home” -Market Watch.com, article titled, Now Might Be The Best Time Ever to Buy a Home.

It is no secret that the price of real estate in The US has softened over the last few years. If you are considering buying a home, you may think that it will make more sense to wait, rent, or even continue to rent until the real estate market hits the bottom and rebounds. The image above shows MSN Money.com and Case Shiller’s study (January 2000 to November 2011) which show that real estate still yield the highest return on investment over the stock market. So, even if home prices go down further, understand is that with interest rates at record lows, the cost of buying a home has decreased.

“It’s hard to see the possibility of losing on a home purchase right now, with these mortgage rates.” -Dean Baker, Business Week article titled -Crazy home deals await the creditworthy

Here are some facts shared by our friends at Keeping Current Matters in a recent blog post as they compared the difference in monthly cost on a home purchased for $250,000: “According to the most recent S&P Case Shiller price index, residential real estate values have returned to 2003 1Q PRICEs. That, in itself, says something. However, when you factor in mortgage rates, the case for buying a home today becomes even more compelling. In 2003, 30 year mortgage rates stood at 5.88%. Today, they are 4%. How does that impact the actual COST of a home?”

As you can see, it is important not to just look at price, but rather consider the cost of owning a home in today’s housing market. Hopefully, we are not expecting interest rates to stay at these record lows forever because they won’t. Once interest rates go up, so will the cost of owning a home.

“It’s an excellent time to buy a house, either to live in for the long term or for investment income.” … Wall Street Journal

Unless someone is still staying at home with their parents, most people already have a housing (rent) expense. What you have to decide is, does your housing expense go up or down if you buy a home. The image below shows a Forbes.com research on Housing Cost Over the Next 30 years if you get a normal fixed rate mortgage vs. renting at a normal annual appreciation of 3.2%. Forbes estimates that in 30 years, the renter would have paid $900,000 vs. $540,000 for the buyer with a normal fixed rate mortgage. Also, if the buyer bought a $300,000 home, at an annual appreciation rate of only 1%, they would have a $400,000 retirement fund created from their equity after 30 years vs. $0 for the renter. How many landlords do you know that will give you your money back after 30 years?.

“The previous declines in house prices and the more recent drop in mortgage rates to record lows have created an unusual situation in which the median monthly mortgage payment is more or less the same as the median rental payment.” -Capital Economics

“By the 3rd quarter of this year, we estimate that the implied median mortgage payment had fallen to just 78% of the median asking rent…” – JP Morgan

Bottom Line:

Waiting to get a better price on a home could end up cost you more when you finally buy a home. Along with the other costs is also the cost paid in rent while you wait. After adding up all the costs, how much will you actually be saving by waiting?

“My answer to those who ask whether now’s the time to buy a house is that the American Dream is and always was alive and well. It has nothing to do with the direction of housing prices but everything to do with your financial situation, income stability, ability to shoulder the costs, and if the home you have your eye on is your version of the American Dream— a home you love that you hope to live in for an extended period.”  Forbes.com

Click Here for the Source of the Information.

       An optimistic showing from U.S. housing markets over the last month has been revealed by new data released by the Obama administration. The October Housing Scorecard Report showed that sales of new homes rose to 26,100 in the last month, but while this is more sales than August’s total of 24,700 new home sales, it’s down from September 2010’s total of 26,300 new home sales.

       On the plus side however, sales of existing homes did grow, rising to 409,200 for September 2011, a 10% increase on September 2010’s total of 367,250. The previous month saw more existing home sales though, with 421,700 transactions recorded in August 2011.

       Also in September, Raphael Bostic, of the Department of Housing and Urban Development, revealed that foreclosure prevention programs contributed to a decline in the number of mortgage defaults, as these programs were expanded to reach more borrowers:

Altogether, September 2011 saw 70,700 default notices filed against delinquent borrowers, as compared with 102,400 in September 2010. This is a drop of almost 31% year on year. This figure is also a decrease from the previous month’s total of 78,900 foreclosure starts.

       Refinance originations for September were also lower than a year ago, recorded at 964,000 compared with 1,341,000 in September 2010, a decrease of 28%.

       There were also more first-time buyers getting themselves on the property ladder last month. 217,000 homes were sold to first-times, compared with 196,000 in the same month last year.

       Bostic said that the Obama administration had done much to make it easier for borrowers to refinance their mortgages at more affordable interest rates. Refinancing at rates close to 4% is now a lot more common, meaning that homeowners now have more money to spend, something that will help to boost the U.S. economy.


Click Here for the Source of the Information.

Read NAR's press release following the hearing and NAR's written submission.

       For the second time in as many years, St. Tammany Parish voters will decide a referendum that seeks to double the homestead exemption for veterans who are disabled from their military service.

       Last November, voters in St. Tammany and statewide approved a constitutional amendment that gave parishes the option to hold local elections to ask voters if they want to double the homestead exemption for veterans whose service injuries render them entirely unable to work.

       The issue will come before St. Tammany Parish voters again Oct. 22; passage this time would make it the rule in St. Tammany.

       In the metro area, voters in St. Charles Parish have approved the increased homestead exemption for disabled veterans. Like St. Tammany, voters in Jefferson, St. John the Baptist, Plaquemines and St. Bernard parishes will decide the issue in those parishes Oct. 22.

       The St. Tammany Parish Council, at the urging of Assessor Patricia Schwarz Core and council members Marty Gould, Al Hamauei, Steve Stefancik, Reid Falconer and Gene Bellisario, approved legislation this spring to bring the issue to parish voters.

       The measure only affects veterans considered 100-percent disabled by the U.S. Department of Military Affairs due to service-related injuries. If approved, the homestead exemption for these veterans would increase from the usual $75,000, to $150,000. The benefit would extend to spouses after the disabled veterans die.

      Core, a supporter of the measure, said the tax break would affect a small portion of taxpayers and estimated it would cost the parish around $30,000 annually.

"So it won't really cost that much," she said.

       Robin Keller, a spokeswoman for the state Department of Veterans Affairs, said information on the specific number of disabled veterans in St. Tammany is confidential due to privacy laws. She said there are more than 23,000 veterans living in St. Tammany, but that the number of veterans who would be impacted by the referendum, if approved, is "significantly lower."

       The idea for the increased homestead exemption came from the Baton Rouge chapter of the Military Order of the Purple Heart, where the commander wanted to help disabled veterans and saw that Texas offered a tax break.

       Last fall, the government watchdog group Bureau of Governmental Research estimated that 2,500 veterans statewide would qualify. The BGR opposed the constitutional amendment, in part saying it was the federal government's role to provide benefits to veterans and noting that a provision in the amendment prevents local governments from replacing lost revenue through other measures.

       The Northshore Legislative Alliance, a collaboration of the St. Tammany West and East chambers of commerce and the Northshore Business Council, is set to discuss the measure on Wednesday.

       If the vote on the constitutional amendment last November is any indication, the measure is likely to find a sympathetic electorate in St. Tammany. The constitutional amendment paving the way for the local election passed here by a margin of 64 percent to 36 percent.

Click Here for the Source of the Information.

The National Association of Home Builders (NAHB) released its first NAHB/First American Improving Markets Index (IMI), a new economic index revealing metropolitan areas that have shown improvement for at least six months in three key economic areas—housing permits, employment and housing prices.

The list of metropolitan areas includes:

• Alexandria, LA
• Anchorage, AK
• Bangor, ME
• Bismarck, ND
• Casper, WY
• Fairbanks, AK
• Fayetteville, NC
• Houma, LA
• Midland, TX
• New Orleans, LA
• Pittsburgh, PA
• Waco, TX

“Despite the challenging conditions in the national economy and housing sector, there are areas throughout the country where we are seeing pockets of improvement” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) and a home builder from Reno, Nev. “Housing conditions are local, and do not always reflect the national picture. We created this new index to shine a light on those housing markets across the country that have stabilized and have begun to show signs of recovery.”

“By examining key indicators of home prices, employment and housing permits data, we are using a comprehensive, but conservative method in determining which markets are improving,” said NAHB Chief Economist David Crowe. “Last year at this time, there was not a single market that showed improvement using these criteria, and now we can point to 12 examples of growth.”

“It’s not surprising that many of the states represented are energy rich areas,” Crowe continued. “Those are the regions still experiencing relatively strong employment, supporting housing demand.”

The IMI is designed to track housing markets throughout the country that are showing signs of improving economic health. The index measures three sets of independent monthly data to get a mark on the top improving Metropolitan Statistical Areas. The three indicators that are analyzed are employment growth from the Bureau of Labor Statistics, house price appreciation from Freddie Mac, and single-family housing permit growth from the U.S. Census Bureau. A metro area must see improvement in all three areas for at least six months following their respective troughs before being included on the improving markets list. NAHB uses the latest available data from these sources to generate the list of improving markets.

Please visit www.nahb.org/imi for additional data, tables and a list of 2011 future economic release dates.


Click Here for the Source of the Information.

Congratulations to Brandt Quick, Winner of the 2011 Raffle House!!

Other Raffle House Ticket Winners

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Joseph LeBlanc

Winning Number: #1606

Robert Rucker

Painting: “Boys at Lake Verrett”

James Cole

Winning Number: #1845

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3 Months Delivery Service

Christine Early

Winning Number: #3121

Lowe's Home Improvement

Winning Number: #2091

Shell Gasoline

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$25.00 Gift Card

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Winning Number: #1241

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Winning Number: #2639

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Winning Number: #3386

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Winning Number: #3120

Click Here for the Source of the Information.

       Data from the University of New Orleans shows home sales in the five-parish North Shore region climbed slightly in the first nine months of 2010. The numbers indicate a slight nudge for the market that saw a slowdown in activity during the height of the national economic collapse.

       UNO’s Institute for Economic Development Director Ivan Miestchovich said the trends through the first three quarters of 2010 signal upward momentum in the single family housing market and a slowdown in the rate at which home prices in the region are falling.

       Between January and September, 3,019 single family units were sold in the North Shore region compared with 2,845 in the same span of 2009. Average prices fell just less than 3.5 percent, or from $200,426 in 2009 to $193,435 last year.

       The report also provides an overview of economic trends along the Interstate 12 corridor, which includes St. Tammany, Tangipahoa, Livingston, Washington and St. Helena parishes.

       The region lost 3,430 jobs, or 2.3 percent, between the first quarter of 2009 and the first quarter of 2010. Tangipahoa Parish accounted for the largest share with 1,395 jobs, followed by St. Tammany with 1,170 jobs.

       Those job sectors with the largest jobs losses were construction (1,051) retail (997) and manufacturing (986).

       During the same time frame, industries adding jobs on the North Shore were health care and social assistance (594) and professional, scientific and technical services (154).

Click Here for the Source of the Information.