Home Insurance - Where to Start

Picking the right insurer for your home can be a daunting task especially if you’re a new home buyer with no prior experience. There are so many providers out there with such a vast range of insurance packages, it’s difficult to tell which is the right plan just for you.

Fortunately the internet makes home insurance shopping much easier especially with sites like InsWeb for the US and Money for UK residents. InsWeb provides a free database  which offers quotes from up to 8 insurers and the UK Money site provides up to 20. They are basically search engine comparison sites so you can access quotes from one location without having to hop from one insurance site to another.

There’s also an article on the CNN site under the money section which I recommend reading that discusses the top things to know about insurance. They even provide some other good articles worth reading pertaining to home ownership in general.

Insurance coverage and requirements also vary based on which state and country you live in. Regardless of your location, it’s always important to seek out and find at least 2-4 quotes before making your decision. Not only will you save money but you’ll also have peace of mind knowing that you didn’t just select the first insurance plan you came across. Good luck in your search! if we can help you find the perfect home here at the Lake of the Ozarks, please contact the Spouses Selling Houses team at 573-302-2313. Ebbie :)

Sales of US homes incresed in December

Sales of previously owned U.S. homes probably rose in December to the highest level in more than a year, a sign the housing market ended 2011 with momentum, economists said before a report today.

Purchases increased 5.2 percent last month to a 4.65 million annual rate, the most since May 2010, according to the median forecast of 75 economists surveyed by Bloomberg News.

Historically low mortgage rates and a pickup in employment may be giving Americans the confidence to purchase homes that have fallen in value. At the same time, another wave of foreclosures may inhibit a faster recovery in real estate as more distressed properties are put on the market.

“We should continue to see moderate housing market growth in 2012,” said Yelena Shulyatyeva, an economist at BNP Paribas in New York. “The fundamentals are still weak for the market to recover by itself, but certainly there are some pockets of strength. Housing prices, though, will continue to decline.”

The National Association of Realtors’ data are due at 10 a.m. in Washington. Economists’ sales estimates ranged from 4 million to 5 million following November’s 4.42 million pace.

Last month, the group revised down housing figures going back to 2007 by an average 14 percent, showing that the industry that helped spark the 18-month recession was a bigger drag on the U.S. economy than previously estimated.

The report also showed the inventory of unsold homes was reduced to 2.58 million as of November, the lowest level in more than six years. Barring a pickup in foreclosures, less supply of unsold properties may help stabilize home prices. The median price of an existing home in the U.S. fell 3.5 percent in November from a year earlier. The average year-over-year price decline in 2011 was 4.6 percent.

Sales, Traffic Rise

Homebuilders are growing more optimistic. The National Association of Home Builders/Wells Fargo sentiment index rose this month to the highest level since June 2007 as sales and buyer traffic improved.

The economy added 200,000 jobs in December and the unemployment rate declined to an almost three-year low of 8.5 percent, Labor Department figures showed earlier this month. Meantime, mortgage rates averaged a record-low 3.88 percent in the week ended Jan. 19, according to data by Freddie Mac.

“Consumers are beginning to realize that housing represents an undeniable value proposition, and accordingly demand is growing,” Stuart Miller, chief executive officer at Miami-based Lennar Corp., said on a Jan. 11 conference call. “As I look ahead to 2012, I’m cautiously optimistic that we’re seeing a real bottom form and that we will begin to see signs of recovery.”

Builder Shares

Builder shares have responded. The Standard & Poor’s Supercomposite Homebuilder Index of 12 builders has surged 56 percent since the end of the third quarter, compared with a 16 percent increase for the broader S&P 500 Index.

Streamlining the refinancing process, easing borrowing requirements to allow investors to buy single-family properties in bulk and modifying existing loans were among measures the central bank’s report proposed to assist the market.

For help finding your new lake home at the Lake of the Ozarks, please contact us at the Spouses Selling Houses team. Make it a good day!! Ebbie :)

THE MOST AFFORDABLE HOUSING MARKET SINCE 1965!

Those doubting that the U.S. real estate market is on the cusp of a sustainable recovery may want to consider this: Americans have not seen a more affordable housing market since 1965. The household income required to qualify for purchasing an existing home reached $30,000 last month, the lowest level since the early 1990s, notes National Bank Financial analyst Stéfane Marion.

To put that into perspective, look at the wages the average American brings home. Mr. Marion divided the qualifying income by the average hourly earnings of employees on payrolls, which stood at $19.54 in December. His conclusion: an average household must work 1,600 hours a year to afford a home, far below the historical average of 2,700 hours. One surprising aspect of this is that two incomes are no longer essential to afford a home. Assuming a 35-hour work week, one person works 1,850 hours a year, well above the 1,600-hours minimum needed to enter the home market. “For the first time since the mid 1960s, even households composed of a single full-time wage earner can thus afford home-ownership – provided a financial institution is willing to lend them,” Mr. Marion said.

Certainly if your plans for 2012 involve a new home at The Lake of The Ozarks, our team would love to help that dream become a reality. Ebbie :)

Home Energy Tax Credits Expire December 31st!!

Spread the word this holiday season! You only have a few more days left in the month to take advantage of tax credits for energy efficiency home improvements–so ’tis the season to upgrade!
Tax credits up to $500 are available for home owner’s to claim until the end of the year, but they better hurry. Congress has yet to renew the tax credits for 2012.
“Making efficiency improvements this year will lower home energy bills and improve home comfort for years to come, while also reducing 2011 federal income tax bills,” Kateri Callahan, president of the Alliance to Save Energy, said in a statement.
The allowance for the tax credits that home owners may be eligible for include:

• $300 for electric heat pump water heaters, electric heat pumps, central air conditioners, biomass stoves, and natural gas, propane, or oil water heaters.
• $150 for natural gas, propane, oil furnace, or hot water boilers.
• $50 for advanced main air circulating fans.
• 10% of the cost of insulation and sealing materials, exterior doors and certain types of energy efficient roofs.
• 10% of the cost, up to $200, of exterior windows or skylights.

Sign Petition Regarding FERC Overregulation

We would like to ask that if you have not already done so, please go to We the People, a new feature on WhiteHouse.gov, and sign the petition regarding FERC Overregulation. If this petition gets 5,000 signatures by October 28, 2011, the White House will review it and respond!

If a petition gets enough support, the Obama Administration will issue an official response.

You can view and sign the petition here:

http://wh.gov/4V0

·         You must first register and then wait a few minutes for a verification e-mail.

·         When you get the verification e-mail, you will need to click on a link to confirm your registration (if you can’t click on this link, copy and paste it into your browser).

·         You will then be taken to the petition to be included.

Here's some more information about this petition:

CURB FERC regulations, which overreach and overregulate the shorelines of its hydroelectric projects.

The Federal Energy Regulatory Commission is enforcing shoreline management rules decades after hydroelectric projects were first developed. Retroactive rules are irrational, without reason, or scientific basis. The burden of this regulation far out weights any public benefit. The impact on surrounding communities cannot be exaggerated as FERC rules are discouraging private investment, lowering property values, killing jobs, limiting access to project waters, inhibiting landowner’s ability to sell, violating Federal, State and local ordinances, and trampling on personal property rights. FERC is ignoring Executive Order 13563 and the 11 July 2011 supplemental order for Independent Agencies. Wise regulatory decisions depend on careful analysis of the likely consequences of regulation.

Thank you

Maintaining the yard through the winter!

This is the time when people start to want to stay indoors a bit more, especially when the temperatures significantly drop.

You can’t neglect your outdoor patios and decks, especially if you plan to sell soon. Buyers won’t want to see broken-wood decks or corroded wrought iron patio sets in your backyard.
The good news is that if you prepare ahead, you can save yourself time and money. Taking some good housekeeping steps now will allow you to step outside into the fresh spring air next year to a well-preserved outdoor space.
Where to begin? First, if your deck is looking a little worn and tired, make the necessary repairs now. Don’t wait until you can stick your foot through a board (like I did). That’s not only dangerous but it also mandates a quick fix.

Give your deck a good cleaning and sealing or staining before the weather gets too cold and wet to do this. Make sure you check for loose nails and get rid of any splintery edges by sanding them down. Seal with waterproofing sealants. For these, generally the weather has to be above 32 degrees F and 50 degrees F for sealing and stains, respectively, to work properly.

Put the clippers to work. Take a good look around your yard and decide which plants need to go. Many annuals may have been killed by frost and it’s time to clear them away. Keep your flowers keep them looking good by trimming away dead leaves. If you cut your plants back now it will cause them to grow and flower more effectively later on.

Add seasonal plants. You can still have some nice color in your yard if you get the right plants for your yard’s climate. Kale and ornamental cabbage are attractive. In warmer climates try primroses for winter color.
Use creative containers with your seasonal plants. Putting a perennial plant in a beautifully painted container can add style and allure to your patio all winter long.

Plant potted vegetables. Nothing’s better than fresh food especially when it comes from your own yard. There are some cool-weather vegetables that work well in pretty pots. Things like lettuce: kale, leaf, mustard, and Chinese cabbage are good for this. Also, don’t forget herbs; they’ll come in handy for the holiday dinners.

Get artsy. Making your yard look good in winter is also about what you leave outside. Those brightly colored throw pillows and rugs that worked great in summer, of course, should be brought inside. Instead get creative with lights that give a sparkle on a cold winter night. Hang plants with ornaments on them. Also, hang bird feeders to attract birds.

Taking a few simple steps to keep your deck, yard, and outdoor furniture in good condition will give you an easy progression into spring. And, if you’re listing your home for sale in the winter, these steps are sure to please buyers.

Fall Fixups around the house

Fall is a welcome reprieve from the oppressive heat of Summer. It also offers homeowners all across the country a chance to ready their homes for cold weather, hard rains, and all that cold seasons have to offer.
As the seasons change, once again it’s time to perform some home maintenance. Here are 9 yearly tasks that will help keep your household in working order when the temperatures drop.

1. Clean Gutters: Do so frequently. Clogged gutters can result in standing water and roof damage. Plus, if you clean them frequently, you’re less likely to have to deal with decomposing leaves.

2. Mow and trim: It seems counterintuitive, but Fall is a wonderful time to both fertilize and reseed your lawn. A maintained lawn improves a home’s value and saleability. Use this time to trim shrubs and grass one last time so that your yard stands out, even in a dormant season.

3. Prune trees: With Winter comes ice. With ice comes broken limbs. Take advantage of nice weather and cut back or remove precarious limbs. It only takes one heavy snow or ice to weigh down a limb and damage property.

4. Powerwash: Driveways, sidewalks, decks, and patios can get quite grimy during the summer months. Invest in a powerwasher and you’ll be surprised how clean you can get them!

5. Outdoor Living: Some furniture is made to be stored during rainy or snowy seasons. Clear a place in your garage or shed for the items. Consider covering them with a tarp and storing cushions in vacuum seal bags.

6. Heating Systems: Check furnaces and change filters. Not only will it boost efficiency, but it will also save you money in the process.

7. Check for Leaks: Recaulk around windows and doors to help prevent heat from escaping.

8. Fireplace: You don’t want a chimney fire. Be sure to have your chimney swept or cleaned each year.

9. Piping: Check pipes for insulation to prevent freezing and bursting.

Every season holds different responsibilities for a homeowner. Be sure to stay on top of tasks each season to maintain your home’s value!