Don't Forget a Home Inspection with a New Construction Home

Every home—whether it's a resale or new—has some kind of an issue, and the
reality is that there is no "perfect" house. Many homebuyers embark on
their search for a home with the belief that new homes should be flawless,
when this is never actually the case.

New home construction problems primarily fall into four categories:

1. Incomplete work: Many new home construction projects aren't completed
properly. The incomplete work may be as simple as a layer of paint on a
wall that was accidentally skipped, or a room that has no air ducting. In
many cases, the unfinished or imperfect work isn't detected until the
homebuyer moves in. A home inspection company will uncover these issues
prior to the move-in date.

2. Damaged systems and finishes: Homes often incur damage during
construction as a result of rain, snow, impact damage and stacking and
storage damage. An example of this is ducting that gets compacted under
attic insulation.

3. Missing elements: Oversights during construction due to human error are
more common than many REALTORS® and homebuyers think. For example, the
construction team may have forgotten to install insulation in the attic.
Taking a proactive approach to identify issues before moving in can
prevent costly problems that could arise in the future.

4. Imperfect or sloppy workmanship: While perfect workmanship is ideal,
it's nearly impossible. In reality, any number of things can go wrong on
the construction site of a new home. A contractor could get delayed by
work on another site and has to hurry to finish the current home he's
working on; rain and other elements can damage a home before it's closed
in; tradesmen could be diverted to another site, etc.

Other common problems with new homes include interior and exterior finish
issues, tile and floor damage, water damage, buckled siding, roofing
issues and structural problems. All new homes should be inspected to
uncover possible defects. Knowing upfront what issues might arise in the
future can save homebuyers thousands of dollars in the long term. The most
reliable way to uncover problems is by hiring an unbiased third-party home
inspector.

**Call Carol for questions about new construction home purchases.**

Courtesy of RisMedia

Carol Lusidia Morrow, REALTOR® CENTURY 21 Award 7676 Hazard Center Dr. #200
San Diego, CA 92108 (619)368-6382 www.CLMrealestate.com DRE# 01463404

Posted via email from CarolLusidiaMorrow's Blog

Five Ways to Create a Beautiful Lawn

A beautiful lawn is the envy of many homeowners who think it is impossible
to have one of their own. It is not as difficult as one would expect if
they follow these five simple rules.

1. Know Your Lawn.
Know what kind of grass you have before you attempt to treat it. If you
have bare spots and you are trying to grow new grass, find out what is
already in the surrounding area, or what will grow well in your type of
climate. You can always talk to your local agricultural extension office
to find the best grass for your area.

2. Learn How to Mow.
Set your mower to a higher setting. Yes, this will mean you have to mow
more often, but it will make your grass healthier, especially during dry
times. It also allows the roots to penetrate deeper so they can withstand
droughts. Moisture is also held better in taller grass; the grass will
retain the water longer when you irrigate your lawn.
Grass also spreads better if it is left taller. You won't have to plant
seeds to help your grass spread to bare spots.

3. Learn How to Water.
Watering your lawn does not have to be as big a chore as you might expect.
The best watering method is to water deeply and infrequently. The grass
should dry out between watering's. The exception to this rule is when you
have new growth. For new lawns you will need light sprinkling to wet the
roots that have not penetrated deep into the ground yet. You do not want
to risk washing away the roots before they are established.

4. Learn About Fertilizing.
Fertilization will help ensure a healthy lawn year after year. However,
you have to know what kind of fertilizer to use. It is best to fertilize
your lawn in the fall, so you have a healthy yard in the spring.
Do not use a fertilizer that contains a large amount of nitrogen. While
nitrogen is necessary for a healthy lawn, it can cause your grass to grow
fast and be weak. It may also become more susceptible to disease. Never
use more than ten percent nitrogen in your fertilizer.

5. Learn About Dethatching.
Dethatching is the process of removing dead grass from your lawn. This may
occur as the grass dies in the fall or when you mow. A thin layer of
thatch is not a problem, but a thick layer can cause many issues. It can
prevent water and nutrients from penetrating into the soil to reach the
roots. The best time to dethatch is mid-spring or early fall. Do not
dethatch when weeds are germinating, or they will spread over your lawn.
You should remove the thatch when it is over half an inch.

Having a beautiful lawn is not impossible, but it does require some extra
care. If you follow these five tips and learn as much as you can about
your lawn, you can enjoy the beautiful view for many years to come.

Courtesy of Christophe Choo

Carol Lusidia Morrow, REALTOR® CENTURY 21 Award 7676 Hazard Center Dr. #200
San Diego, CA 92108 (619)368-6382 www.CLMrealestate.com DRE# 01463404

Posted via email from CarolLusidiaMorrow's Blog

Pending Home Sales Rise To 22-Month High

The housing market appears headed for a strong spring season.

After a brief setback in December, the Pending Home Sales Index resumed its climb in January, posting a 2 percent gain over the month prior.

The data puts pressure on San Diego home buyers. This is because a "pending home" is a home that's under contract to sell, but has not yet sold. It's tracked by the National Association of REALTORS® and, among all housing statistics, it's the only one that's "forward-looking".

The Pending Home Sales Index is important to home buyers throughout New York because 80% of homes under contract to sell close within 60 days of contract. In this way, the Pending Home Sales Index forecasts the housing market 1-2 months into the future.

This is very different from how NAR's Existing Home Sales report works; or, how the Census Bureau's New Home Sales report works. These two metrics tell us what's already happened in housing.

By contrast, the Pending Home Sales Index tells us what's coming next.

January's Pending Home Sales Index reading lifts the monthly metric to its highest level since April 2010 -- the month during which the 2010 federal home buyer tax credit expired -- foreshadowing a strong housing market through March and April 2012, at least.

This should not be news, of course. The nation's home builders have said "foot traffic" is rising and home supplies are scarce nationwide. The only wild-card for housing is the high contract cancellation rate.

As compared to last January when just 9 percent of home purchase contracts "failed", this January saw 33 percent of contracts fail. High failure rates undermine the Pending Home Sales Index's viability as a forward-looking housing market indicator.

Despite contract failures, though, the combination of low mortgage rates and low home prices is enticing to today's home buyers. Expect home sales to climb in the coming weeks which will lead to a strong spring season for housing. 

New Home Supply Falls To 5.6 Months

The new construction market rolls on.

As foreshadowed by February's Homebuilder Confidence survey, which rose to a 4-year high, the Census Bureau reports new homes are selling more quickly than builders have built them, lowering the national "home supply" to levels not seen since 2006.

A "new home" is a home that is considered new construction and, at the current pace of sales, the nation's entire new home inventory of 151,000 homes would be sold in 5.6 months.

Anything less than 6.0-month supply is thought to connote a "sellers' market".

321,000 new homes were sold last month on a seasonally-adjusted, annualized basis. 7 of 10 new homes sold for less than $300,000. 

The South Region continues to account for the majority of new construction sales, posting a 59% market share in January. South Region sales were up 9 percent as compared to December. The other 3 regions turned in mixed results. 

• Northeast Region : +11.1% from December 2011 
• Midwest Region : -24.5% from December 2011 
• West Region : -10.6% from December 2011 

Unfortunately, the Census Bureau's New Home Sales data could be wrong.

Although New Home Sales were said to fall by about one percent nationally from December to January, the government's monthly report was footnoted with a ±16.6% margin of error. This means that the actual New Home Sales reading may have been as high as +15%, or as low as -18%. 

Because the range of values includes positive and negative values, the January New Home Sales data is of "zero confidence". However, that's not to say that it should be ignored. The aforementioned homebuilder confidence survey shows builders optimistic for the future, and a bevy of home sale data since October 2011 suggests a market in recovery.

If you're in the market for new construction in Temecula , therefore, consider going into contract sooner rather than later. Home prices remain low and mortgage rates do, too -- a terrific combination for today's buyers.

In a few months, the landscape may look different.

50 Creative Reuse Ideas For Your Home And Garden

"Creative Reuse" is the transformation of everyday items that would otherwise be thrown out into something useful. It's where being "green" and the arts can converge. 

In every sranch home, there are literally hundreds of items that be reused and repurposed, including such disparate items as chipped coffee mugs, step ladders, and bubble wrap. After transformation, for example, these three items can become a simple storage container, a plant stand, and greenhouse insulation, respectively.

Real Simple made a list of "50 All-Time Favorite New Uses For Old Things". It's a list of Creative Reuse projects from which you're bound to find inspiration.

For example, the magazine suggests using an old Twister Mat as a children's party tablecloth; or an old eyeglasses case to hold nail care essentials such as clippers, files and scissors.

Some of Real Simple's other top ideas included :

• Distinguish your glass from other party-goers' glasses at a party with peel-on/peel-off window decals
• Protect counter tops from hot dishes with and old mousepad-turned-trivet
• Eliminate travel bulk. Carry non-prescription medicines in an old contact lens case.
• Use Play-Doh as a candle or sparkler holder
• Pour pancake batter into an old ketchup bottle for no-mess cooking

With Creative Reuse, you're limited only by your imagination and, even then, Google can be a terrific project resource.

Check the Real Simple list for 50 great ideas.

Federal Reserve Wary Of European Spillover

The Federal Reserve has released the minutes from its 2-day meeting January 24-25, 2012.

The Fed Minutes is a summary of the conversations and debates that shape our nation's monetary policy. It receives less attention than the Fed's more well-known, post-meeting press release, but the Fed Minutes is every bit as important.

To rate shoppers in Temecula , for example, the Fed Minutes can provide clues about whether mortgage rates will generally rise or fall in the coming months.

The most recent Fed Minutes reveals a central bank divided on the future of the U.S. economy. The minutes show some Fed members in favor of new, immediate market stimulus. It shows others in favor of terminating the stimulus that's already in place.

The Fed's debate centered on the topic of inflation, and the pressures that a prolonged, near-zero Fed Funds Rate can place on the economy. Ultimately, the Fed did nothing, neither adding new stimulus nor removing that which is already in place.

It did, however, communicate a plan to keep the benchmark Fed Funds Rate rate "exceptionally low" through late-2014, at least.

The Fed Minutes included the following notes, too :

• On employment : Unemployment rates will "decline only gradually" in 2012
• On housing : The market is "held down" by the "large overhang" of distressed homes
• On inflation : Consumer prices have remained "flat"

Furthermore, the Fed expressed optimism regarding European financial markets, noting that market sentiment "appeared to brighten a bit". Nonetheless, "spillovers" remain possible and the threat continues to weigh on markets. 

Mortgage rates are slightly worse since the Fed Minutes were released. 

The Federal Reserve's next scheduled meeting is March 13, 2012 -- its second of 8 scheduled meetings this year.

9th Annual Guacamole Bowl Cook-Off Contest

February 25

Guacamole lovers, feast your mouths on this!! Well, it's not exactly a
cook-off, but more of a whip-up. Teams will come together and use their
own guacamole recipes that will be entered into a contest for the best
tasting concoction. Come hungry and vote for your favorite! Admission
$5.00 - includes a bag of chips and a vote of your choice. Benefits
"Sports for Exceptional Athletes."

Time: 10:00 am - 2:00 pm
Location: Balboa Park, 2150 Pan American Rd West, San Diego

For more information visit www.guacamolebowl.com

Carol Lusidia Morrow, REALTOR® CENTURY 21 Award 7676 Hazard Center Dr. #200
San Diego, CA 92108 (619)368-6382 www.CLMrealestate.com DRE# 01463404

Posted via email from CarolLusidiaMorrow's Blog