Monthly Archives: July 2011

Attracting Birds To Your Backyard

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Attracting Birds To Your Backyard

Bird watching is a popular past time that is shared by many, but what if watching your fluttering friends was as simple as peeking into your backyard? Thanks to a few landscaping techniques, you can trade in your binoculars for a lawn chair and enjoy bird watching from the convenience and comfort of your own home.

Attracting Birds Of A Feather

If you want to attract birds to your backyard, you have to make it a place that they will be drawn to. One way of doing this is by studying the feeding and/or nesting habits of the birds that you want to attract. Like any other animal, birds have unique characteristics that are specific to their type and knowing what they enjoy will be your first step toward inviting them into your backyard.

Bird Basics

Birds have three basic needs—food, shelter and water. By planting familiar foliage, you will be providing a protective covering for birds. Flowers, inviting nesting areas and a birdbath will provide additional comfort for your feathered friends.

Bird food, which is commonly available at any retail store, is often specific to certain bird types. For instance, black oil sunflower seeds will attract goldfinches and chickadees, while millet seeds are appealing to doves and sparrows. If you want to attract a hummingbird, you will need to include a sugar-water feeder in your backyard landscaping. A bird feeder, which is used to house seeds and food for your backyard birds, should be cleaned regularly.

Just Splashing Around

Believe it or not, a birdbath is a terrific aspect to include in your landscape if you want native birds to feel welcome. This single feature offers birds a way to bathe and drink, which makes your backyard especially inviting to visiting birds. It’s important to add fresh water regularly and keep birdbaths clean and free of bacteria buildup. Another popular water feature, which is great for both landscaping appeal and attracting birds, is a fountain or waterfall. The sound of trickling water will serve as an inviting habitat for birds.

House Hunting

If you want to attract birds, you need to provide them with a birdhouse. These structures provide a safe environment for your feathered friends and offer a way for them to feel right at home. When choosing a birdhouse, you must consider the size of the bird that you will be attracting as the size of the entrance hole will greatly be determined by the bird that will be using it. A quality birdhouse must have proper ventilation to ensure proper air circulation, and the drainage capability must also be considered in order to keep the bird’s nest dry and free of any water buildup.

Re/Max Connection Realtors disclaimer:
Re/Max Connection Realtors are not licensed financial advisors, and are not providing any financial advice, you should consult with a licensed financial advisor prior to making any financial decisions. Re/Max Connection Realtors are only providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.
Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.
Re/Max Connection Realtors, 1000 East Lincoln Drive, Suite 2, Marlton, NJ 08053 www.goconnectionnj.com

June Existing Home Sales

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NAROFF ECONOMIC ADVISORS, Inc.
Joel L. Naroff
President and Chief Economist

INDICATOR: June Existing Home Sales
KEY DATA: Sales: -0.8%; 1- Family: 0 %; Condos: -7%; Median Prices (6 ’10-6 ‘11): +0.8%

IN A NUTSHELL: “It’s tough to turn around the housing market when equity has disappeared and mortgages are hard to get and we keep seeing that fact month after month.”

WHAT IT MEANS: Disappointing is the simplest way to put it. After housing starts popped, it was hoped that maybe there was some new life in the residential real estate market. At least when it comes to existing homes, that doesn’t seem to be the case. The National Association of Realtors reported that demand eased a touch in June led by a sharp drop in condo sales. Geographically, modest increases in the South and Midwest were offset by a sharper decline in the Northeast and a smaller drop in the West. The report pointed to a surge in contract cancellations as an explanation for the overall decline. Why that was the case is a good question. The logical reason is tight credit but by now you would think potential buyers and realtors would do some pre-approval action to find out buyer capacity. So I cannot give you a good reason for what hopefully is only a temporary phenomenon. There was some good news in the report as median prices rose from last June with the West and the Northeast up solidly. Both condos and single-family home costs managed gains.

MARKETS AND FED POLICY IMPLICATIONS: The housing market just cannot get much traction, at least the existing home market. We get new home sales next week and that is the segment of the market on which I am focusing. The reason is simple: Building more homes is where more of the jobs are created. Clearly, you cannot delink the two part of the market especially now. The large number of distressed existing homes is depressing the new house market. For builders the rise in existing home prices is a start. Clearly, prices need to increase a whole lot more but we may finally have found the bottom in prices and that points to more healing of the housing sector in the months to come. Investors are watching Washington and earnings so this report may be a tree in the forest. The debt ceiling charade may finally be coming to an end. Republicans got to vote on their spending cuts and Democrats will vote on their tax expenditure cuts. Now that the deadline is two weeks away, a compromise will have to be agreed upon. The alternative is simply unthinkable.
Re/Max Connection Realtors disclaimer:
Re/Max Connection Realtors are not licensed financial advisors, and are not providing any financial advice, you should consult with a licensed financial advisor prior to making any financial decisions. Re/Max Connection Realtors are only providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.
Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.
Re/Max Connection Realtors, 1000 East Lincoln Drive, Suite 2, Marlton, NJ 08053 www.goconnectionnj.com

June Housing Starts and Permits

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NAROFF ECONOMIC ADVISORS, Inc.
Joel L. Naroff
President and Chief Economist

INDICATOR: June Housing Starts and Permits
KEY DATA: Starts: +14.6%; 1-Family: +9.4%; 5+ Units: +31.8%; Permits: +2.5%; 5+ units: 8.2%

IN A NUTSHELL: “Given how low home construction was, it wasn’t surprising to see and increase but the surge in starts is an eye-opener.”

WHAT IT MEANS: The housing sector has been the major drag on the recovery. Normally, a jump in construction comes with large increases in employment. That has not happened yet. However, there may be some indications the bottom in home construction is behind us. Housing starts surged well beyond expectations in June. When the May numbers came out, I wrote the following: “Looking forward, home building should pick up soon and possibly quite solidly.” I said that because permit requests were outstripping starts and builders were not spending money on permits for fun. However, I didn’t expect this kind of increase. The gains were distributed across the nation with double-digit increases posted in all areas except the West. The movement into rental housing has triggered a major revitalization of the multifamily sector. The market does work, if you let it. Permit requests continued to move upward so construction should continue to rise in the months to come especially since the number of homes permitted but not started was up. The supply of home being built is also rising. That matches well the rise in builders’ confidence reported by the National Association of Home Builders.

MARKETS AND FED POLICY IMPLICATIONS: We have been trying to call the bottom in the home construction sector for quite some time and I think we finally have one. Of course, given how low things have been, the level of activity is still well below what would signal a healthy market. In addition, starts and permits are more in line so don’t expect double-digit construction increases going forward. However, the leading light in this sector of the economy, apartment construction, should do well and with even a modest rise in the single-family segment, housing should start adding to growth during the second half of the year. More importantly, rising construction should bolster job gains and I expect the July employment numbers to be a lot better than the tepid June gains. Investors should like this report, if they are focusing on the fundamental U.S. economy rather than the theater of the absurd being performed in Washington or the continuing uncertainty about European sovereign debt. But this is earnings season, so what businesses report will likely trump some of the economic data. As for the Fed, the members would like to see more months of increases in housing before they start thinking the soft-spot has passed. I think the second half will still be strong, though maybe not quite as robust as I expected a few months ago. We still need lower gasoline prices and I am not sure that is coming.
Re/Max Connection Realtors disclaimer:
Re/Max Connection Realtors are not licensed financial advisors, and are not providing any financial advice, you should consult with a licensed financial advisor prior to making any financial decisions. Re/Max Connection Realtors are only providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.
Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.
Re/Max Connection Realtors, 1000 East Lincoln Drive, Suite 2, Marlton, NJ 08053 www.goconnectionnj.com

A Reverse Mortgage: Is It Right For You?

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A Reverse Mortgage: Is It Right For You?

A reverse mortgage is a financial option available to seniors which allows them to free up some of the accumulated equity in their home. This may be an appealing option for obtaining some extra income in your retirement to use for a variety of reasons; however, there are some important considerations to weigh before borrowing against your greatest investment. Here are some facts about reverse mortgages, and some tips for making the right financial choice.

What Is A Reverse Mortgage?

Sometimes called a lifetime mortgage, a reverse mortgage allows you to borrow against the equity in your home, which can be paid out either in one lump sum or in several payments over time. This amount does not have to be paid back to the lender during your lifetime provided you stay as a resident in your home and it remains your property. That percentage of the value of your home which you have taken out now becomes the property of the lender, and will be returned to them after the sale of the home. Your heirs still inherit the property upon your passing, and they have up to one year from that time to either refinance the property, or sell it and keep the remainder of the proceeds for themselves.

Do I Qualify For A Reverse Mortgage?

Depending on where you live, the qualifications for a reverse mortgage may differ. In general you must be 62 years or older, have no outstanding mortgages on the property upon which you are borrowing, and you must have sought the advice of a qualified financial advisor in order to prove that you fully understand the process. You can use the monies from a reverse mortgage for whatever you want, as there are no restrictions.

How Much Can I Get From A Reverse Mortgage?

Again, depending on where you live, the amount of equity you can receive from your home with a reverse mortgage will differ. In the U.S. there is a maximum limit of $625,500, no matter what the value of your home, but for most homeowners the actual amount will be considerably less. The actual amount you will get depends on a variety of factors such as the value of your property, the interest rates at that time, your age, and whether you want a lump sum payment.

Reverse mortgages can be a great addition to your retirement income, but being sure you know all the facts before going ahead will ensure peace of mind for both you and your family in the long term.

Re/Max Connection Realtors disclaimer:
Re/Max Connection Realtors are not licensed financial advisors, and are not providing any financial advice, you should consult with a licensed financial advisor prior to making any financial decisions. Re/Max Connection Realtors are only providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.
Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.
Re/Max Connection Realtors, 1000 East Lincoln Drive, Suite 2, Marlton, NJ 08053 www.goconnectionnj.com

A Single Woman’s Guide To Home Ownership

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A Single Woman’s Guide To Home Ownership

The traditional view of home ownership usually includes a married couple, but times have changed, and more and more single women are entering the housing market. In fact, almost twice as many single women are purchasing homes than single men, and almost one in five homes purchased today are purchased by single women. So why are single women making up such a large part of the housing market, and what are the special considerations single women should make when purchasing a home?

What Women Want!

The demographics of single women buying homes are quite diverse. From young professional women in their 20s to divorced mothers in their 40s, there are really no typical single women making home purchases, and their needs are just as diverse. Overall, however, there do appear to be a few trends in the market, and here is a list of what the average single woman is looking for in a new home.

Most spend less than $200,000
Prefer two bedrooms or more
Less likely to choose new construction
Will compromise size and cost to get other amenities, but not location
Smaller spaces are acceptable, and many prefer condos
Desire security and safe neighborhoods with a strong community feel
Look for close proximity to stores, shopping, and fitness centers

Things To Consider

If you are a single woman looking to enter the housing market, or know someone who is, then what should be considered before making the leap into home ownership?

Essentially the considerations are much the same as those of any homeowner. Taking a realistic look at your financial situation is always important. Seeking out the advice of a qualified financial advisor and a REALTOR® can make the process less difficult. It is also important to be sure you are not entering into any unwise loan agreements that may not be wise down the road, such as no-money-down deals. It is also important to have a clear picture of what your needs as a homeowner are, and that you don’t settle for something that will not work with your particular lifestyle.

Re/Max Connection Realtors disclaimer:
Re/Max Connection Realtors are not licensed financial advisors, and are not providing any financial advice, you should consult with a licensed financial advisor prior to making any financial decisions. Re/Max Connection Realtors are only providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.
Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.
Re/Max Connection Realtors, 1000 East Lincoln Drive, Suite 2, Marlton, NJ 08053 www.goconnectionnj.com