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Realtor.com: Inventories are Returning to Normal | Cross River Real Estate

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While June inventories continue to be down on year-over-year basis, they rose for the sixth consecutive month and are steadily returning to more normal levels. The number of homes listed for sale increased by 4.3 percent in June to 1.9 million homes, the highest level in the last year, according to monthly data released Monday by realtor.com.

Inventories on realtor.com reached their highest level in more than a year, suggesting that market fundamentals continue to be strong and that housing supply in many markets is gradually catching up with housing demand.  At same time, the median age of the inventory increased by just one day in June, suggesting that housing sales are generally keeping pace with new property listings.

Both year-over-year list prices and inventories rose simultaneously. While the median list price has stabilized somewhat, it remains 5.27 percent higher than it was one year ago. Rising inventories appear to be having a moderating effect on median list prices, although on a year-over-year basis, median list prices were up by 1 percent or more in 98 of the 146 MSAs covered by realtor.com, compared to 103 markets in June, while the number of markets with a list price decline of at least 1 percent rose from 23 to 25.

Key Market Indicators for June 2013

June 2013

Year-over-Year % Change

Month-over-Month % Change

Number   of Listings

1,931,713

-7.29%

4.26%
Median   Age of Inventory

80

-15.79%

1.27%

Median   List Price

$199,900

5.27%

0.45%

Despite six consecutive months of steady growth, inventories continue to be down by 7.29 percent on a year-over-year basis, although they are now approaching more normal levels. The median age of the inventory rose to 80 days in June, up by one day (1.27 percent) over the month but down by 15.79 percent on a year-over-year basis.

The geography of low inventories changed during June. The top ten markets reporting year-over-year inventory declines are no longer dominated by California markets but now include Boston, Lansing, Grand Rapids and Monmouth NJ.  Their potential shortfalls in supply are likely to support robust house price appreciation going forward.  Inventories remain depressed in markets where prices have not improved significantly or where negative equity is greater than elsewhere, making it difficult or owners to sell

 

 

Read more…

 

http://www.realestateeconomywatch.com/2013/07/realtorcom-inventories-are-returning-to-normal/print/

 

The Art and Science of Creating a Successful Blog Post | Cross River Realtor

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The creative geek has never had it so good.The Art and Science of Creating a Successful Blog Post

They have the web tools, apps and the social networks that keep poking them  with global gems of content inspiration and ideas. It is a revealed universe of  possibilities. What we are seeing in this century is the synergy between  the art of creation and science of technology.

Gutenberg would be turning in his grave if he saw what is happening in the  new world of publishing.

So we now have the online tools to publish your inspirations. Google has  freed us from the tyranny of remembering and finding facts. This is leading to  an explosion of  prolific and innovative ideas and expression. It  could be music created with an app, a photo that is captured on a smart phone  and filtered or it could be creating an article for a blog.

It is the synthesis of art and science.

Creating a successful blog post is creativity enabled by technology both in  production, delivery and marketing.

The Art

This starts with an idea for your article. It might appear while driving,  talking with a friend or during a wakeful moment at 2am (that is when this idea  turned up). It may be inspired by a book, a passing tweet or a brainstorming  session at a workshop.

Whenever the idea strikes, grab a pen, your phone or that napkin at the  coffee shop. Writing in blood is always an option…because failing to capture an  idea due to forgetfulness can sometimes feel like losing one of your  children.

The writing for me can start two ways.

  1. Creating the introduction (that’s how this one started)
  2. Mapping out the structure and framework for the post (that often  happens)

Neither is right or wrong but the creation has to start. Sitting down at the  computer laden desk with my two screens, keyboard and my mouse and starting the  mundane action is next.

As the words arrive the next phase is the wrangling and wrestling with the  text, phrases and even the sub-titles. Many a blog post has an ugly face but as  you massage it and apply the makeup it can turn into a thing of beauty.

That is certainly the intent.

Next is the internal discussion with myself as to whether I need to  illustrate and elaborate my ideas with a screen shot, an image, add a video or  even plonk in a Slideshare presentation.

Sometimes it goes beyond the words.

The Science

WordPress is the technology and foundation tool of choice for this blog.

The science support crew includes the following:

1. Snagit

This is the screen capture tool I use for screen shots, inserting call out  text boxes and arrows and even shadow and torn edge effects. I couldn’t do  without it.

2. WordPress Plugins

You cannot do without these to enhance your productivity and marketing  effectiveness.

This includes.

  • SEO Plugins (such as WordPress SEO or Yoast)
  • Akismet (this software stops the spammers)
  • BackWPup (this backs up my blog),
  • Facebook like box (you can like my Facebook page without leaving my  blog)
  • GetSocial (my floating social media sharing buttons)

This is not an exhaustive list but all of these I couldn’t do without.

Read more at http://www.jeffbullas.com/2013/07/17/the-art-and-science-of-creating-a-successful-blog-post/#AIPsxa7OmCCbSHBa.99

‘Long way to go before the caldron bubbles over’: CoreLogic | Cross River Real Estate

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Analytics firm CoreLogic argued in its latest MarketPulse report that the housing market is not on the road to bubble territory, and rising interest rates will only make it less likely for it to head in that direction.

“Economists are often referred to as dismal scientists because of their emphasis on the downside of economic events. However, CoreLogic is prepared to offer an optimistic opinion about the U.S. housing market,” read the report. “CoreLogic does not believe the market is experiencing a housing bubble, either nationally or even in some of the fastest-growing markets.”

The firm also said that housing today remains highly affordable relative to historical norms.

“For housing price affordability to return to the average level that we saw in the years between 2000 and 2004, either home prices would have to rise an additional 47 percent or interest rates rise to 6.75 percent,” CoreLogic said.

“So while the bubble opinions swirl like the words of Shakespeare, ‘Double, double toil and trouble/Fire burn and caldron bubble,’ this housing market still has a long way to go before the caldron bubbles over,” the report later added.

– See more at: http://www.inman.com/wire/long-way-to-go-before-the-caldron-bubbles-over-corelogic/#sthash.SYMVwu20.dpuf

Memphis real estate market continues improvement | Cross River Real Estate

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The rebound in the Shelby County housing market continued in the second quarter.

Total home sales in the quarter were up 11 percent from previous year levels, with a total of 4,226 total homes sold in the county. According to Chandler Reports,total sales volume was up 21 percent as well.

The average sales price in Shelby County was $141,303, a 9 percent improvement over the $129,316 average sales price in the second quarter of last year.

The 38017 ZIP code in Collierville saw the highest number of sales in the quarter. A total of 290 homes were sold in that area alone.

 

Memphis real estate market continues improvement – Memphis Business Journal.

Greenwich, Take Steps To Avoid Mosquitoes And West Nile Virus | Cross River Real Estate

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The discovery of a mosquito carrying the West Nile virus in Norwalk last week renews the summer fear of insect bites.

The Connecticut Mosquito Management Program advises the best way to avoid the West Nile virus is to lower your risk of being bitten by mosquitoes.

Here are steps to take to avoid the annoying summer pests, according to the Mosquito Management Program:

  • Minimize time spent outdoors between dusk and dawn when mosquitoes are most active.
  • Be sure door and window screens are tight-fitting and in good repair.
  • Wear shoes, socks, long pants and a long-sleeved shirt when outdoors for long periods or when mosquitoes are most active. Clothing should be light colored and made of tightly woven materials that keep mosquitoes away from the skin.
  • Use mosquito netting when sleeping outdoors or in an unscreened structure and to protect babies when outdoors.
  • Consider the use of mosquito repellent, according to directions, when outdoors.

Restricting mosquito breeding habitats can greatly lessen the potential for West Nile virus to become a significant human health threat, the Connecticut Mosquito Management Program says.

To protect you and your family from mosquitoes and the West Nile virus, it advises you:

  • Reduce the amount of standing water available for mosquito breeding around your home.
  • Empty standing water from used or discarded tires, including tire swings, that may have accumulated on your property.
  • Dispose of cans, plastic containers, ceramic pots or similar water-holding containers. Do not overlook containers that have become overgrown by vegetation.
  • Drill holes in the bottom of recycling containers that are left outside. Drainage holes on the sides collect enough water for mosquitoes to breed.
  • Clean clogged roof gutters annually. Roof gutters can produce millions of mosquitoes each season.
  • Turn over plastic wading pools when not in use. A wading pool becomes a mosquito producer if it is not used regularly.
  • Turn over wheelbarrows and do not allow water to stagnate in birdbaths. Change water in birdbaths and wading pools weekly.
  • Aerate ornamental pools or stock them with fish. Water gardens are fashionable but become major mosquito producers if they stagnate.
  • Clean and chlorinate swimming pools, even if not being used. A swimming pool left untended during a vacation can produce enough mosquitoes to result in neighborhood-wide complaints. Mosquitoes may breed in the water that collects on swimming pool covers.
  • Use landscaping to eliminate standing water that collects on your property. Mosquitoes can develop in any puddle that lasts more than seven to 10 days

 

Greenwich, Take Steps To Avoid Mosquitoes And West Nile Virus | The Greenwich Daily Voice.

Hot Real Estate Market Causes Unexpected Glitch For Buyers, Sellers | Cross River Real Estate

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The real estate market in the Boston area has been crazy lately and that’s adding up to trouble for both buyers and sellers.

 

Demand is way up and inventory is way down. That means buyers are all chomping at the bit to bid on the few houses that are on the market. “I’ve had clients this spring who have offered on properties without even seeing them,” explained realtor Kerrianne Ciccone.

 

In the most popular neighborhoods, sellers are routinely getting multiple offers above the asking price. While that may sound like great news for Ciccone’s clients like Neil Maniar, it can create some problems. “You never quite know what you are going to get into when you sell your house,” Maniar said.

 

One of the biggest unknowns in the current market is the appraisal. If a bidding war pushes the price above asking, the appraisal may come in too low.

 

 

Appraisers use recent sales to set the value of a home, but prices have been rising so fast that sales from a few months ago are out of step with current rates. That, according to Boston realtor P.T. Vineburgh, can put both buyer and seller back to square one. “It could completely create an inability for someone to secure financing,” he said. “Our company has definitely lost deals,” he added.

 

New rules to avoid another mortgage meltdown are also causing problems. Banks can no longer hire their own appraisers and that means appraisers are sometimes sent to unfamiliar territory. Vineburgh says he almost lost a deal because an appraiser from the Cape was sent to evaluate a condo in the Back Bay.

 

“He valued the parking space at like $20, 000,” he said. You may recall a parking space in that neighborhood recently sold for $560,000.

 

If you are a buyer and your appraisal comes in low, here are a few things to try.

 

Put more money down. The bank is more likely to sign off if you improve the loan-to-value ratio.

Renegotiate the price with the seller. They may be willing to come down rather than start from scratch.

Find another bank and hope the appraisal comes back higher.

Everything worked out for the Maniars, but it was a stressful time. “There certainly were a couple of knots in our stomachs,” he said.

 

Rising interest rates could put a damper on this frenzied market, but as long as inventories stay low, there will still be stiff competition for the few homes that are available.

 

Hot Real Estate Market Causes Unexpected Glitch For Buyers, Sellers « CBS Boston.

Canada May New House Price Index Report | Cross River Real Estate

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The following is the text of the new house price index report for May released by Statistics Canada.

The New Housing Price Index (NHPI) rose 0.1% in May, following a 0.2% increase in April and continuing a series of similar increases over the past 12 months.

Calgary was the top contributor to the national advance in May, as prices for new homes rose 0.9%. Builders reported an increase in material and labour costs as the main reason for higher prices.

Prices increased 0.6% in both St. Catharines-Niagara and the combined region of Sudbury and Thunder Bay. Builders in both metropolitan areas cited higher material and labour costs as the main reason for the growth. This was the largest monthly price movement in Sudbury and Thunder Bay since May 2012, when prices rose 1.6%. Since then, new housing prices in the region have shown little or no growth.

Winnipeg also saw a notable increase as prices for new homes rose 0.5% in May. Monthly prices in the region have been rising since the beginning of 2012. Builders reported higher material costs for new homes sold, but not yet completed, because of the new provincial sales tax coming into effect in July.

In May, prices decreased 0.3% in Ottawa-Gatineau and 0.2% in both Vancouver and Edmontonas builders in all three regions reported lower selling prices.

Prices were unchanged in 5 of the 21 metropolitan areas surveyed.

On a year-over-year basis, the NHPI rose 1.8% in the 12 months to May, following a 2.0% annual increase in each of the previous two months. This was the smallest annual gain in the index since March 2010 (+1.7%).

The main contributor to the advance was the combined region of Toronto and Oshawa, where the year-over-year increase in contractors’ selling prices was 2.6%. Annual price increases in the region continued to show signs of slowing, following steady growth throughout 2011 and the early part of 2012.

 

Canada May New House Price Index Report (Text) – Bloomberg.

Innovations in ‘big data’ set to take off | Cross River Real Estate

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The sheer volume and types of real estate data available may be akin to drinking from a firehose, but the technology available to wrangle that data is rapidly becoming cheaper and easier to use.

“In the past three years, costs have gone through the floor. The cost of doing (data) integration is so cheap now. The ability for you to integrate and pull in data now from (different sources) has completely changed. You can build something in an afternoon,” said Jack Miller, chief technology officer for the The Goodlife Team, an Austin, Texas-based boutique brokerage.

Miller spoke on a panel about how to work with real estate data at today’s Real Estate Connect San Francisco conference.

Miller noted that data is becoming normalized and “making everybody’s life easier.” He pointed to the Spark API from multiple listing service software provider FBS as an example. The API allows authorized MLS members and developers access to MLS data standardized according to the Real Estate Standards Organization (RESO) Data Dictionary, which includes some common vocabulary for fields used to represent real estate data in MLSs.

Previously, vendors had to tailor their products to the standards of different MLSs, which stymied innovation in the industry as a whole and allowed other industries to innovate faster, Miller said.

“Now that things are normalized, new tools can come to the market and spread much, much faster,” he said.

– See more at: http://www.inman.com/2013/07/10/innovations-in-big-data-set-to-take-off/#sthash.yaN6KaCf.dpuf

 

Innovations in ‘big data’ set to take off | Inman News.

Reorganize Your Fridge, Revitalize Your Diet | Cross River Real Estate

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If finding something as simple as ketchup in your refrigerator is akin to reaching into astorage unit of forgotten mysteries, it’s probably time to rethink the way you’re storing food. Not only does a well-organized fridge make for a more pleasing kitchen environment overall, but you’ll never again find yourself frantically searching for green onions halfway through cooking dinner. Here are some easy ways to reorganize your fridge and streamline the way you cook and eat, for the better!

Organize by expiration date and throw items away weekly

Unless you’re planning on hunkering down for the next year or so, there’s no need to hoard food or keep leftovers for longer than 2-3 days. Judiciously throw away any foods that are expiring, or close to expiring, at the end of every week. This allows you to start each week with a clean slate — a great motivational tool if you’re following a specific diet plan or just trying to eat healthier.

Invest in quality storage containers

It’s easy to forget which leftover came first when you’re looking at five different to-go boxes. To solve this problem, invest in quality see-through containers such as Tupperware or Pyrex, and label with the contents and date. Clear space in your freezer as well by getting rid of unnecessary box packages, and instead keep everything in airtight plastic containers or bags.

Take advantage of your fridge’s storage

Your fridge comes with drawers and compartments for a reason — they’re optimized for certain foods. Meat should go into the deli drawer. If your fridge doesn’t have one, place meat in the shallowest drawer, which happens to be one of the colder areas in your fridge. Also make sure your vegetables are in the drawer with the highest humidity (most fridges will come with a fruit and vegetable drawer). Be careful with your eggs: They absorb odor, so put them in the airtight egg bin if your fridge has one, or in the centermost area.

Don’t rely on the the refrigerator door

While you may be haphazardly piling various food and drink items into the door of your refrigerator, don’t forget that most foods should be stored in an area that maintains a stable temperature. The frequent opening and closing of your refrigerator door can actually be damaging to many foods and cause them to expire faster than their regular shelf life.

Some foods are better left unrefrigerated

Some foods just do not belong in the fridge. These include potatoes, onions, tomatoes, avocados, peaches and honey. Some foods, such as bread, nut butters, bananas and apples, do not need to be refrigerated, but can be. Additionally, be careful of storing fruits that emit ethylene gas in close proximity with other ethylene-sensitive foods. Apples, for example, release ethylene gas, which will end up spoiling nearby fruits and vegetables.

 

Reorganize Your Fridge, Revitalize Your Diet | Zillow Blog.

Countertop materials that stand up to years of abuse | Cross River Real Estate

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When shopping for kitchen appliances you’ll see a dizzying array of choices, from basic models to ones loaded with features. But your countertops might outlast your appliances by years, maybe decades, making this decision one you’ll live with for some time. Consumer Reports tested 14 materials and found that except for recycled glass, there wasn’t much difference among competing brands, but there were big differences in materials. Here’s a look at our tests and what’s new in countertops.

Crazy about quartz. This synthetic material is becoming more popular and some mimics stone, although may look too uniform to be realistic. Quartz also comes in vivid colors such as Caeserstone’s Apple Martini and Red Shimmer. Quartz was tops in our tests, whether polished or matte finish. Sharp knives, abrasive pads, hot pots, and most stains didn’t damage it plus it’s easy to maintain and doesn’t require sealing. Silestone’s suede series is designed to have a leathery finish with little reflection, but their website warns that this finish may require extra care.
CR tip: Edges and corners can chip and repairs aren’t a DIY project. Rounded edges help.

Granite’s rock solid rep. It’s been rumored to be on its way out for years but granite is still among the most desirable or must-have kitchen features, according to a recent study from theNational Association of Home Builders. No two slabs are exactly alike, giving your kitchen its own look, and unlike marble, limestone, and soapstone, granite is the only real stone that’s practical enough for heavily used areas. It performed similarly to quartz in our tests and new suede and leathered finishes skip the high sheen and offer a softer look.
CR tip: When properly sealed, matte finish and polished granite fended off most stains, so reseal periodically to maintain resistance. Chipped edges and corners are a possibility and only a pro can repair them.

 

 

Countertop materials that stand up to years of abuse – Yahoo! Homes.