Market Update

First-time buyers rushed to purchase homes in November, providing an extra boost for housing markets across the country. According to the National Association of REALTORS (NAR), existing homes sales — including single family, condominiums, townhomes and co-ops — were up 7.4 percent to an adjusted annual rate of 6.54 million units for 2009. NAR also reported that 51 percent of November home purchases were made by first time buyers, up from 50 percent reported in October.

NAR chief economist Lawrence Yun sees more activity on the horizon. “We expect a temporary sales drop while buying activity ramps up for another surge in the spring when buyers take advantage of the expanded tax credit, which hopefully will take us into a self-sustaining market in the second half of 2010. In all, 4.4 million households are expected to claim the tax credit before it expires and balance should be restored to the housing sector with inventories continuing to decline.”

Mortgage backer Freddie Mac reported an average commitment rate for a 30-year, conventional, fixed-rate mortgage of 4.88 percent in November. This is down from over 6 percent in November 2008, and is the second lowest interest rate on record since the reaching 4.81 percent in April 2009.

Congress Extends Tax Credit

The Extended Home Buyers Tax Credit offers current homeowners and first-time home buyers alike an incredible tax-saving opportunity when they buy a home through April 30, 2010. First time buyers, who haven’t owned a primary residence in the past three years, are eligible for a tax credit of 10 percent of a home’s purchase price, up to a maximum of $8,000. Current homeowners, who are vacating a principle residence that they have lived in for 5 consecutive years of the past 8 are eligible for a tax credit of 10% of a home’s purchase price, up to maximum of $6,500.

The following conditions apply:

The tax credit is only awarded on homes purchased for $800,000, or less
Full tax credit is available to buyers earning up to $125,000 a year, or $225,000 for married couples filing jointly
Partial tax credit is available to buyers earning between $125,000 to $145,000, or for married couples earning between $225,000 to $245,000.
Under the rules, as long as a written binding purchase contract is in effect on April 30, 2010, the buyer has until July 1, 2010 to close.
The tax credit is a dollar-for-dollar reduction in the buyers tax liability, and does not have to be paid back as long as the buyer remains in their home for three years or more. This is a once-in-a-lifetime offer to have Uncle Sam help you buy a house. Don’t let this opportunity pass you by!

Are You Ready For Winter?

Winter is one of our favorite times of the year! It’s often easy to overlook your home’s needs with so much going on. Here is a simple checklist of items that can save you money through the winter:

Check for leaks and drafts around the house. Replace weather stripping and re-caulk around doors and windows. Drafty doors and windows will cool off the house and cost you money in heating bills.
Inspect your attic’s insulation. Heat rises so adding good insulation can keep the heat from escaping.
Check your heating system. Sometimes something as easy as replacing your filter or having simple maintenance done can save on heating costs.
Consider changing from standard light bulbs to energy saving bulbs. Winter uses a lot of your electricity so even saving a little here and there will help.
Whether you live in a warm or cold climate, take this opportunity to inspect your home systems. You’ll be money ahead in the long run!

6 Things to Do Everyday

Tip from your Woodlands Realtor and Property Agent

1. Make the Bed
Tidiness begets tidiness. A crisply made bed makes the whole room seem more organized, which makes it less likely that you’ll let other things — such as clothes and papers — pile up around it.

2. Manage Clutter
Whenever you leave a room, take a quick look around for anything that isn’t where it should be. Pick it up and put it where it belongs. Insist that everyone in the household help out and do the same.

3. Sort the Mail
Take a few minutes to open, read, and sort mail as soon as you bring it inside. Keep a trash bin near your sorting area for junk mail. Drop other mail into one of four in-boxes/mail slots: personal correspondence, bills, catalogs, and filing.

4. Clean as You Cook
Instead of filling the sink with pots and dishes, wash them or put them in the dishwasher as you prepare a meal. This will help with the un-sanitary grime and crumbs found around most of America’s sinks.

5. Wipe up Spills while they’re fresh
Whether its tomato sauce on the cook top, or makeup on the bathroom counter, almost anything is faster and easier to remove if you tend to it immediately.

6. Sweep the Kitchen Floor
Every evening, once you’ve finished washing up after dinner, sweep the floor. This will keep tough-to-clean dirt and grime from building up, which will make the weekly mopping much quicker.

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Trendy Kitchens

Kitchens today are proceeding to evolve into family rooms which can entertain multiple cooks, family dining, and entertaining.
Here are just a few of the outstanding design trends emerging in luxury multi-purpose kitchens as 2010 begins. We will see some of these kitchens in the future in homes for sale in The Woodlands.

Countertops
Kitchen countertops are growing in mass – THINK THICK! – And demand is enlarging for new surface materials. As granite fading in popularity, crackle glass, concrete, and wood (with decorative edges) are all moving ahead as popular countertop materials. One of the most contemporary counters combines glass with LED lighting. The result is a glowing glass countertop which can be set up with most any color to match your mood of the moment.

Counters in new kitchens may also modify in height to add visual excitement and to create work zones for special purposes and for both short and tall cooks. Counters and islands are also increasingly designed to double as serving and dining areas.

Work zones
As more activities precipitate to the kitchen, designers are building in special purpose areas. A quick food prep station makes simple meal preparation and cleanup uncomplicated. A baking center offers ingredient storage within reach and a counter height designed for chopping, mixing, and rolling. A coffee bar or a wine tasting and beverage center are other trendy special purpose work zones.

Sinks
Extravagant farm sinks are a valued trend and multiple sinks continue to be in demand. Water saving faucets are part of a trend toward eco-friendly, a.k.a. “Green” kitchens.

Cabinetry
Mid-height cabinetry is a major trend in contemporary kitchens and beginning to develop in widespread kitchen designs as well. Shorter cabinets may “float” on the wall or include European-style legs and even be used as room dividers. In-demand cabinet materials include stainless steel, environmentally-friendly bamboo, pecan or alder wood. Cabinets are tailored with interior fittings for efficient storage. Horizontal cabinet doors (sometimes motorized) are another emerging kitchen trend.

Although the all white kitchen is still fashionable, cabinetry is also showing up in an assortment of finishes and colors to give a kitchen the look of a furnished room.

Appliances
Disregard the concept of a cooktop, double oven, microwave, dishwasher and a refrigerator creating an adequate kitchen. Today’s cooks want more. Additional dishwashing drawers, luxurious coffee making appliances, warming drawers, additional ovens, wine coolers may all be part of a luxury kitchen and several of these appliances may be hidden within cabinetry.

On the other end of the spectrum, forget subtle, some homeowners are using the refrigerator as kitchen art. Coolers, an Italian company will silk screen a refrigerators with a bold animal print, your favorite photograph or most any other image. The range hood or cabinet fronts can be silk screened to match.

Electronics
The kitchen is now home to televisions, computers, and sound systems. With friends and family coming together in the kitchen, entertainment and information need to be convenient.

Multiple kitchens
Luxury homeowners often want numerous kitchens. In addition to the pristine gourmet kitchen, a catering kitchen – where preparations occur for dinner parties and other entertaining – may be on the must have list. A mini-kitchen in the master bedroom and another in the primary guest suite create a comfortable place for a midnight snack or that morning coffee. Of course, what was once the barbeque grill has morphed into a full outdoor kitchen with ice maker, dishwasher, dining area and much more.
The kitchen is the heart of the house and this decade originates with trends which focus on making it more systematic for an assortment of lifestyle purposes and more enchanting as an entertaining center.

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Avoid Home Damage from Frozen Pipes

Texas Department of Insurance

FOR IMMEDIATE RELEASE
January 6, 2010
News Release
Avoid Home Damage from Frozen Pipes
Texas weather can change quickly, especially in the winter. A fast-moving cold front can cause temperatures to drop below freezing within hours. Outdoor pipes, pipes in unheated areas, and pipes that run along uninsulated exterior walls can burst if the water in them freezes and expands. This can shatter pipe seals or the pipes themselves, sending water pouring through your house. You can avoid thousands of dollars of damage to your walls, ceilings, carpets, and furniture by taking a few simple measures to protect your home.
Before the Freeze
· Protect faucets, outdoor pipes, and exposed pipes in unheated areas by wrapping them with rags, newspaper, trash bags, or plastic foam.
· Insulate your outdoor water meter box and be sure its lid is on tight.
· Cover any vents around your home’s foundation.
· Drain and store water hoses indoors.
· Protect outdoor electrical pumps.
· Drain swimming pool circulation systems or keep the pump motor running. (Run the pump motor only in a short freeze. Running the motor for long periods could damage it.)
· Drain water sprinkler supply lines.
· Open the cabinets under sinks in your kitchen and bathrooms to allow heated indoor air to circulate around the water pipes.
· Set your thermostat at a minimum temperature of 55 degrees, especially when you’re gone for the day or away for an extended period.
· Let indoor faucets drip; it isn’t necessary to run a stream of water.
· Make sure you know where your home’s shut-off valve is and how to turn it on and off.
· If you leave town, consider turning off your water at the shut-off valve while faucets are running to drain your pipes. Make sure you turn the faucets off before you turn the shut-off valve back on.
· If you drain your pipes, contact your electric or gas utility company for instructions on protecting your water heater.
If Your Pipes Freeze
· If a pipe bursts and floods your home, turn the water off at the shut-off valve. Call a plumber for help if you can’t find the broken pipe or if it’s inaccessible. Don’t turn the water back on until the pipe has been repaired.
· If the pipe hasn’t burst, thaw it out with an electric heating pad, hair dryer, portable space heater, or towel soaked with hot water. Apply heat by slowly moving the heat source toward the coldest spot on the pipe. Never concentrate heat in one spot because cracking ice can shatter a pipe. Turn the faucet on and let it run until the pipe is thawed and water pressure returns to normal.
· Don’t use a blowtorch or other open-flame device. They are fire risks and carbon monoxide exposure risks.
If You Have a Loss
· Contact your insurance agent or company promptly. Follow up as soon as possible with a written claim to protect your rights under Texas’ prompt-payment law.
· Review your coverage. Most homeowners and renters policies pay for property repair. In addition, most policies pay for debris removal and for additional living expenses if you have to move temporarily because of damage to your home. If you can’t find your policy, ask your agent or company for a copy.
· Homeowners policies may require you to make temporary repairs to protect your property from further damage. Your policy covers the cost of these repairs. Keep all receipts and damaged property for the adjuster to inspect. If possible, take photos or videos of the damage before making repairs. Don’t make permanent repairs. An insurance company may deny a claim if you make permanent repairs before an adjuster inspects the damage.
· Most homeowners policies do not cover loss caused by freezing pipes while your house is unoccupied unless you used reasonable care to maintain heat in the building; shut off the water supply; and drain water from plumbing, heating, and air conditioning systems.
Questions?
If you have questions about insurance, call TDI’s Consumer Help Line toll-free: 1-800-252-3439
or visit the TDI website: www.tdi.state.tx.us. Assistance is available in both English and Spanish

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Heater Safety for The Winter

Heater Safety During Cold Weather
By Montgomery County Fire Marshall’s Office

THE WOODLANDS, Texas — As temperatures plummet over the next few days, residents will have many concerns, such as taking care of the three P’s ( Pets, Plants & Pipes ). As Firefighters, we are concerned that there is another danger that is often overlooked, that is the risk of injury or death from home heating fires. It is estimated that there are approximately 64,000 home heating fires annually in the United States, resulting in nearly $1 Billion dollars in damage, 540 civilian deaths and 1,400 injuries.
The high cost of home heating fuels and utilities has caused many Americans to search for alternative home heating sources such as wood burning stoves, space heaters, and fireplaces. Heating is one of the leading causes of residential fires. Over one-quarter of these fires result from improper maintenance of equipment, specifically the failure to clean the equipment.
Carbon monoxide (CO) poisoning is another danger when using heating equipment fueled by fossil fuel. It occurs most often when equipment is not vented properly. CO deaths have been on the rise since 1999. On average there were 181 unintentional non-fire deaths from CO poisoning associated with consumer products per year from 2004-2006 compared to 123 from 1999-2001 (Source: Consumer Product Safety Commission). Carbon monoxide poisoning is most fatal to adults age 65 or older.
The number one safety recommendation is to first and foremost have working smoke detectors throughout the home, especially in all sleeping areas. Homes with gas appliances must also have a Carbon Monoxide Detector on each floor. Having a working smoke alarm dramatically increases your chances of surviving a fire.
Preventing Home Heating Fires
In 2003-2006, the leading factor contributing to home heating fires (28%) and deaths (46%) was heating equipment too close to things that can burn, such as upholstered furniture, clothing, mattress, or bedding (Source: NFPA). Many heating fires can be prevented by following basic safety tips when dealing with any heating equipment:
- Keep or maintain a 3 foot clearance between all heating equipment and anything that can burn.
- Inspect and maintain heating equipment regularly for safety.
- Be sure to have fixed space heaters installed by a qualified technician, according to manufacturer’s instructions or applicable codes. Or, make sure a qualified technician checks to see the unit has been properly installed.
- When buying a new, portable space heater, make sure it has the label showing it is listed by a recognized testing laboratory, such as Underwriters Laboratories (UL).
- Space heaters should be turned off every time you leave the room and before going to bed.
- Choose space heaters that turn off automatically if they tip over.
- Never use a space heater to dry clothing.
- Do not use your oven to heat your home.
- Install smoke alarms in every bedroom, outside each sleeping area, and on every level of the home. For the best protection, interconnect all smoke alarms throughout the home. When one sounds, they all sound.
- Test smoke alarms monthly.
- Install and maintain carbon monoxide alarms to avoid risk of carbon monoxide poisoning
Wood Burning Stoves and Fireplaces
- Use a metal or glass fireplace screen to keep sparks from hitting nearby carpets or furniture.
- Be sure the fireplace or stove is installed properly. Wood stoves should have adequate clearance (3 feet) from combustible surfaces and proper floor support and protection.
- Wood stoves should be of good quality, solid construction and design, and should be evaluated by a nationally recognized laboratory, such as Underwriters Laboratories (UL).
- The stove should be burned hot twice a day for 15-30 minutes to reduce the amount of creosote buildup.
- Have your chimney inspected annually and cleaned if necessary, especially if it has not been used for some time.
- Don’t use excessive amounts of paper to build fires in fireplaces. It is possible to ignite creosote in the chimney by overbuilding the fire.
- Make sure your fireplace has a sturdy screen to prevent sparks from flying into the room.
- Keep flammable materials away from your fireplace mantle. A spark from the fireplace could easily ignite these materials.
- Before you go to sleep, be sure your fireplace fire is out. NEVER close your damper with hot ashes in the fireplace. A closed damper will help the fire to heat up again and will force toxic carbon monoxide into the house. If synthetic logs are used, follow the directions on the package. NEVER break a synthetic log apart to quicken the fire or use more than one log at a time. They often burn unevenly, releasing higher levels of carbon monoxide.
- Do not use flammable liquids to start or accelerate any fire.
- Never burn charcoal indoors. Burning charcoal can give off lethal amounts of carbon monoxide.
-Allow fireplace and wood stove ashes to cool before disposing in a metal container.
Electric Heaters
- Keep space heaters at least 3 feet away from anything that can burn – including furniture, blankets, curtains, and paper products.
- Check to ensure the heater has a thermostat control mechanism.
- Choose a heater that will turn off automatically if it tips over.
- Never dry clothes or store objects on stop of the heater.
- Never use extension cords with electric heaters.
- Keep anything that may burn at least 3 feet away from the heater.
- Never allow children to play with, or around, the heater.
Sources: United States Fire Administration, National Fire Protection Association
send to you by your Woodlands Realtor and Property Agent

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