Most Expensive Clock sells at Auction

December 2012

Take a look at the clock that auctioned at Sotheby's for a record $6,802,500 on Tuesday, Dec. 4. It's the Duc d'Orleans Breguet Sympathique clock dated 1835. Notice the pocket watch mounted above the clock. Sotheby's calls the clock "a unique and highly important ormolu-mounted red tortoiseshell boulle-style Royal Sympathique quarter-striking clock and half-quarter repeating gold watch." It's named "Duc d'Orleans" after its patron and has the most complex Sympathique mechanism of all known examples: it is the only one known to wind, set time, and regulate its accompanying pocket watch via the cradle mounted onto the clock's pediment.  Read more..

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United Country Coffey Realty & Auction April Newsletter

HomeGain Survey Finds Home Sellers Fare 50% Better in Getting Their Homes Sold Using a REALTOR® Than Selling On Their Own

HomeGain’s For Sale By Owner (FSBO) vs. REALTOR® survey reveals home sellers’ success rates and satisfaction. Home sellers have greater success and higher satisfaction with the home sale process using a REALTOR® than going FSBO.

HomeGain surveyed over 1,000 homeowners asking whether they used a REALTOR® to sell their home or whether they attempted to sell it themselves. Eighty-three percent said they used a REALTOR® to sell their home and 17 percent said they tried to sell their home on their own.
Fifty-nine percent of home owners that used a REALTOR® to sell their home were successful vs. 39 percent of FSBO’s, reflecting a 50 percent higher closing rate for those home sellers using a REALTOR®.
Eighty-one percent of homeowners that used a REALTOR® to try and sell their homes said they would use a REALTOR® again for their real estate needs.

Seventy-one percent of FSBOs who managed to sell their homes on their own said they would try and sell their home on their own again.
“It is especially striking that homeowners fare significantly better in selling their homes using a REALTOR® than selling on their own.” said Louis Cammarosano, General Manager of HomeGain. “Due to that relative success, the level of satisfaction in the home selling process is also higher for home sellers utilizing the services of a REALTOR® than those who try to sell their homes on their own.”
Twenty-four percent of FSBOs eventually decided to enlist the aid of a REALTOR® to help sell their homes.
The survey was conducted from February 7-15, 2011.

Read Full Story at HomeGain.

Sellers: 6 disclosures you must make, or it could cost you

What you don't say could come back to haunt you, in the form of blown sales or lawsuits.

These days, the trend among cash-strapped home sellers seems to be to say less in hopes of getting more at closing. But in the long run, this less-than-full disclosure can prove costly.

Lawsuits stemming from nondisclosure of a property's problems are becoming a bigger issue, according to respondents in the National Association of Realtors 2011 Legal Scan survey. Of the agents who responded, about 75% ranked this issue among their "top three current and future issues."

While the rule with homebuying was once "caveat emptor," or "buyer beware," an increasing number of sellers are finding themselves on the hook for nondisclosure.

"I think a lot of sellers don't have a full understanding of what the seller disclosure statement means when they fill it out," says Illinois home inspector Jack McGraw of Jacks Home Services. "You can often tell there has been work done" on a house, he says, but these fixes don't show up anywhere on paper.

Indeed, sometimes there is a big effort to cover up any signs of trouble. Omaha, Neb., appraiser John Bredemeyer says he recalls one home that had a giant console television pushed up against a door angled in one corner of the basement. Once the property was sold and the TV hauled away, the new owners found a big surprise.

"They opened up the door and the foundation was crumbling," Bredemeyer says. Ultimately, the home's original owners wound up paying to fix it.

Sellers must disclose anything that could affect the property's value or desirability, from big problems such as a compromised foundation to — in some states — simple neighborhood nuisances such as that dog next door that barks every night.

Disclosure laws vary. Some states require sellers to look for and cite certain problems even if they are not aware of them.

No one gets out of these disclosures: Even those marketing a home "as is" have to obey state disclosure laws, says Ilona Bray, real-estate attorney and co-author of "Nolo's Essential Guide to Buying Your First Home." As-is sellers are simply advertising that they're not going to negotiate on price because of these issues.
Here are the six things that a seller must reveal about a home to avoid legal trouble down the road.

1. Repairs
This is a pretty broad category but one that a lot of buyers seem confused about. If you have made repairs to your property, you should disclose them, even if the problem has been resolved.
That could be something as major as a crack you had sealed in the foundation, or something as minor as snaking your sewer line every year to clear tree roots.
Any repairs to the roof, plumbing, electrical system or heating and cooling unit that you are aware of — including any repairs disclosed to you by previous owners — should be laid bare, as well as any drywall or structural repairs to remedy water damage.
"If you knew that there had been hail on the roof and it was leaking, you should disclose that," Bredemeyer says. "If you knew last fall that the A/C didn't work, that's something you should disclose to a buyer."
The bottom line is that sellers should disclose anything that is not readily identifiable by the buyer.

2. Termites
One such invisible problem is termites. If your home has a history of termite infestation, especially if it has been treated more than once, it should be disclosed to the buyer, because it can greatly affect the value of the home.
To lessen the impact of this disclosure, sellers can get another termite inspection before listing their home that shows it to be clear of the pests. This disclosure, along with any information about treatment warranties that could be transferred, should be given to the buyer at closing.

3. Water damage/mold
If the home has had a leaky roof, a flooded basement or dampness and mold in certain areas, these water issues must be disclosed.
A good home inspector can often spot the signs of water damage, even if they have been painted or plastered over, McGraw says. But it's no sure thing. That's why water damage is one of the biggest causes of disclosure-related lawsuits, says Joseph Rand, managing partner and general counsel for Better Homes & Gardens Real Estate Rand Realty in Nyack, N.Y.
One buyer that Rand's firm represented had to call out a plumber soon after the purchase for some serious flooding in the basement. Once there, the plumber told the buyer, "I was just out here six months ago for the same thing."
The sellers were successfully sued for not disclosing this fact. "It was one of the few times that the buyer caught the seller red-handed," Rand says.

4. Lead
If you are selling a house built before 1978, you must comply with a federal law that requires disclosure of all known lead-based paint and hazards in the house.
Buyers must receive a copy of the Environmental Protection Agency pamphlet "Protect Your Family from Lead in Your Home" and they must be allowed a 10-day window to test the house for lead.
The contract must include that warning as well as signed statements from all parties verifying that the requirements for disclosure were met. If a seller doesn't comply with these requirements, the buyer can sue for triple the amount of damages suffered. More information from the EPA on lead disclosure is available here.


5. Natural hazards
Some states, such as California, require sellers to disclose any risk of natural disasters such as a flood plain or earthquake zone or susceptibility to wildfires. This disclosure is meant to warn buyers of the financial risk and danger they face from these catastrophes, as well as alert them to trouble they may face in getting insurance for a home in that location.

6. Infamous past
Even a home's notorious past must be disclosed. One New York case many years ago involved a home that reportedly was haunted and was the subject of many articles and tours. When that ghoulish past wasn't disclosed to the new buyer, the seller was successfully sued for nondisclosure, because that notoriety was likely to diminish its resale value, Bray says.
The same holds true for a home's criminal past. Some states require disclosure of murders on the property, others do not. But since these horrific events tend to lower the value of a property, most real-estate agents choose to disclose them rather than risk legal action. In fact, the NAR even published a field guide for agents to deal with these "stigmatized" properties.
Other special disclosures might include a historical designation that restricts remodeling, or any other special zoning or local environmental concerns.
The bottom line is that if there's a question in your mind about whether or not you should disclose something, you probably should. "Anything that the buyer would feel misled by is something that you should disclose," Bray says.
However, disclosure does not mean sellers are obligated to fix a home's problems, Bray says. Rather, the disclosed issues can merely become a point of negotiation between buyer and seller.

How can sellers protect themselves without blowing a sale?
To find out which disclosures your state requires, you can contact its department of real estate. Bray also suggests sellers get a home inspection before listing the home. It's not required, but it can help you figure out what to disclose.
If repairs must be done, McGraw suggests getting bids from a few contractors so you can negotiate more effectively. If a problem was fixed, disclose it and let people know what you have done to resolve it.
McGraw suggests preparing a binder for potential buyers of repairs, permits and warranties. It makes you look like a conscientious seller. And if you're not disclosing something on a form, remember to document it in writing, even it's just an email copied to a witness, Rand says.
It might seem strange, but sometimes a heavy dose of disclosure can actually make a buyer more ready to act. "They will say, 'This is an upfront person that I can work with,'" Bray says.
In a depressed housing market, no one wants to give up money from the purchase price, but full disclosure is one way to make sure you're not giving up a lot more of it later on.
Article from MSN Real Estate 

This Spring Could Be The Best Home-Buying Season In Years

The lion’s share of home sales typically come in the spring and early summer. April, May, June and July account for more than 40% of all housing transactions annually, in large part thanks to weather. Economists, realtors and Wall Streeters have been quick to surmise that 2012 will be the year of the market bottom, and with that prognosis circulating, it begs the question of what sellers and buyers can expect in housing as that high season nears.
“The spring home buying season looks bright because of an elevated level of contract offers so far this year,” Lawrence Yun, chief economist of NAR, said in a statement earlier this week. February home sales, despite a slight dip from January to February, remain well above 2011 numbers. The Pending Home Sales Index, which reflects signed contracts that have yet to close, from the National Association of Realtors (NAR) was 9.2% higher than February of 2011 and existing-homes sales, or closed contracts, were 8.8% higher than last year.

That increased demand from buyers has pushed inventory levels 19% lower than they were this time last year, with an estimated 2.43 million homes available for sale. In fact, housing inventory is at a five-year low nationally right now. It means owners tinkering with the thought of selling have less competition to contend with, compared to the past five years. It also means housing may be inching toward a long-awaited recovery.
Here are five factors that will affect what the spring season brings and ultimately, whether 2012 is truly the year of recovery.
Weather
The mild winter weather played a big role in the relatively strong sales numbers with which 2012 has kicked off.  ”Right now it’s hard to say whether the housing market is recovering or whether it’s warm weather,” asserts John Canally, an economist and investment strategist for LPL Financial. “But there are a couple factors that suggest the rising number of home sales are indeed for real: home builder stocks are way up since last October, lumber prices are higher, and home builder sentiment is getting higher.”
(Building permits, which rose 5.1% from January to February, were 34.3% higher than February of 2011, according to the U.S. Census and Department of Housing and Urban Development. Housing starts were 34.7% higher than last year.)
The Midwest has welcomed the most sales activity since 2012 commenced. The region clocked the most newly signed contracts, jumping 6.5% from January to February, with a 19% increase year-over-year. It was also one of only two regions that welcomed an uptick in completed sales as well.
“If it’s 30 below and snowy that doesn’t inspire people to go look at houses, but this year it has been so mild that our market didn’t slow down,” says Ellen DeHaven, a Realtor with Coldwell Banker Burnet in Minnesota.  ”So we’ve been selling many more houses this year than we typically would at this time and it’s brought down our inventory levels both in foreclosures and in general.” DeHaven expects that sales surge to only grow as the year unfolds.
One concern may be whether the warm winter’s relatively strong sales have been pulling activity forward, meaning whether buyers who would typically have purchased in the spring have done so already, translating into less sales later on. Canally and others suspect that that’s not the case. NAR predicts sales will rise 7% to 10% this year, reaching the highest numbers seen since the housing bust began five years ago.

Tight Lending
Interest rates hover at record lows. Housing affordability is at record highs. However, lending remains tight. NAR estimates that 31% of all pending contracts collapsed in February due to failed financing. Compare that to a 9% cancellation rate in February 2011.
Jed Smith, managing director for quantitative research at NAR, says stringent lending practices are a reflection of two things: either a potential buyer whose credit may not be strong enough according to post-bubble standards or a lending institution whose portfolio remains bogged down by poorly underwritten mortgages in years past. He notes that many of the larger lending institutions, like Bank of America for example, suffer from this, whereas the smaller, community banks and savings and loan associations may be more willing to underwrite mortgages.

Tight lending has led many buyers to pay in cash (approximately 30% of all buyers), a purchasing method that may have more benefits than taking out a mortgage. This is especially true of investors, who have been successfully using cash to land accepted offers, even if it means the seller accepts less money. This cash-is-king phenomenon has caused many a mortgage pre-qualified first-time home buyer to lose out on properties, as investors and first-time buyers tend to compete for lower priced homes in a market.
“The single biggest obstacle for a home buyer right now is availability of credit,” asserts Canally. If prospective buyers can find a way to finance their purchases, sales will arguably continue to grow. Smith estimates 500,000 more sales would be completed this year than projected if lending standards eased even just a little bit.
A Flood Of Foreclosure Sales
Now that the $25 billion foreclosure settlement has been reached, the uncertainty banks have felt about processing foreclosures is expected to subside.  RealtyTrac estimates that there will be one million completed foreclosures, or REOs, in 2012 — a 25% increase from 2011.
That doesn’t mean we will see 25% more homes slide into default; it means the foreclosures that stalled in the processing pipeline after 2010′s robo-signing debacle will finally make their way into the hands of buyers in short sales and onto bank books as REOs (bank-owned properties).
“We will see more foreclosed homes come to the market later this year,” predicts Jed Kolko, chief economist at Trulia. He and Canally both think banks will list larger percentages of their REO inventory this year, a move that, depite being a long-term positive for housing, could further depress home prices in the immediate future.  Since distressed property sells for about 30% less than non-distressed property on average, those discounts pull both listing prices and appraisal numbers down on non-distressed property in response.
However, investors have been eagerly snatching up distressed properties, which typically account for one third of all sales each month. So even if more short sales and foreclosures make their way to the sale block, there may be a market for them. The sooner they are cleared from banks’ books, the sooner prices can stabilize and begin an upward march.

Read entire story at Forbes

As you're preparing for spring and summer...10 ways to reinvigorate your yard in a weekend

Your yard is an extension of your home. You use it to play, eat, relax and entertain your friends. It also plays a central role in your home's curb appeal.

But if you're like many people, you may avoid updating your yard because you think it's too expensive or takes too much work. Here are some ideas on how to reinvigorate your yard without huge investments of time and money. Most, if not all, of these projects can be completed in just one weekend.

Let there be light
Adding exterior lighting is an easy way to make warm spring evenings last longer, while preventing dangerous falls and deterring strangers, says Colleen Maiura, a spokeswoman for home-improvement retailer Lowe's.

Solar lighting is an option, even for not-so-handy homeowners. The job requires no experience or wires. Each stand-alone light fixture can be staked into the ground. The cost: $30 for a set of six solar path lights.

Another popular option is low-voltage lighting. In this setup, a buried, low-voltage cable plugs into an outlet and connects each light along a path. A 12-light kit runs about $50.


Fertilize and seed the lawn
It's a good idea to fertilize your lawn one to four times a year. It's a one- to two-hour job that can lead to a healthier, prettier and more resilient yard. You can fill in bare spots in your lawn, prevent weeds and make your grass more durable to foot traffic and pests.

Plan on spending $15 to $25 for a bag of fertilizer that covers 5,000 square feet of grass. Some stores also sell a seed-fertilizer combo called Sta-Green with Nitro-Fuze for about $23. 

David Salman, founder and chief horticulturist at High Country Gardens in Santa Fe, N.M., suggests using organic fertilizers, which cost about the same as traditional fertilizers but avoid their chemicals. Fertilizers high in phosphorous can enter drainage systems and bodies of water. This can create algae blooms that suck up oxygen and kill fish and plants.

For about $34, you can also buy any number of eco-grass seeds, such as Pearl's Premium, No Mow Lawn Seed, EcoLawn and Pennington Smart Seed. They need less water than traditional grass seeds but grow slower.

To start: Rake the seeds lightly in bare spots so they contact the soil. Then apply a starter fertilizer to the lawn and water thoroughly. You'll also need a spreader, which can cost $10 to $50.

Fix your fence
A fence in good condition not only improves the look of your home but also keeps kids and pets in and unwanted visitors out. 

A chain-link fence, once installed, can be maintenance-free. But wood fences often need post replacements or new panels, says Chris Long, a Home Depot employee in Chicago.

Wood panels that are 8 feet wide cost $25 to $100 per section, and fence posts can be $10 to $50 each. Rotten posts often must be dug out, but they sometimes can be pulled out of the ground using a hi-lift jack. New gate hardware can run $5 to $25 apiece and can fit in old holes, with longer screws, or in new spots.

Constructing 25 feet of fence can take about half a day, for one person.

Trim bushes and trees
Pruning your trees and shrubs improves how your yard looks. It ensures they fit in nicely with your landscape and can encourage new blooms on flowering bushes. But the task also helps you protect your investment so you enjoy your trees and bushes for years to come.

Pruning trees in their first two to four years can help keep them sturdy and resistant to storm damage, Salman says. Removing crossed and excessive interior branches creates good air circulation through the foliage to reduce disease. Removing forked stems at the top of the tree creates a single tip, or "leader," and helps to keep a tree straight.

Most trimming should be done in the fall or winter, when many trees are dormant. But prune flowering bushes each spring, after they bloom, to ensure new growth, Maiura says.

Install a sprinkler system
Tired of setting a timer and dragging the hose around your yard to water? You can save that time and effort — and ensure you don't overwater or underwater your yard — with an automated irrigation system. If you understand the basics of irrigation-head layout, you can install a sprinkler system yourself, saving thousands of dollars in labor but perhaps adding an extra weekend to the project.

First, measure your yard and sketch a general map of where you will place the sprinkler heads. Assume three different heads will hit each point in the grass, and each will spray 10 to 20 feet, says Rich Leeman, president of Landscape Technology Group, a landscape firm in Vail, Colo.

A typical lawn has six to 10 watering zones, and each zone could cost $250 in piping supplies. Consider renting a trencher for $100 to $150 a day to cut the digging time to two hours per zone from five. "It will save a lot of time and back-breaking digging," Leeman says.

Lay a brick or flagstone patio
A brick or flagstone patio can be a great space for entertaining and relaxing. A 150-square-foot patio may have room for a table, a grill and some potted plants, Leeman says.

You'll need a shovel, a rake and a wheelbarrow for the job — and perhaps three or four friends to help, Leeman says. Plan on spending about $7 per square foot for flagstone and $4 per square foot for brick, including sand and gravel.

Power wash the deck
Cleaning your deck is an essential part of outdoor maintenance and should be done once or twice a year, Maiura says. You may also want to inspect the structural integrity of your wood deck, checking for loose boards, protruding nails or corroded deck connectors, she says.

The easiest way to clean a deck is by using a power washer, which removes dirt and grunge quickly. You can rent one for $40 to $50 for a day for a quick job.  "You otherwise could spend hours scrubbing with chemicals," Long says. 

Long suggests using a fan-spray tip with a deck-cleaning solution to power off the dirt. Be careful to use only minimal pressure to avoid damaging the deck. A long-handled deck brush can help with stubborn spots, he says.


Plant a xeriscaped garden
Want a new look that doesn't require upkeep? A xeriscaped garden, one using drought-tolerant plants that need little water, requires less maintenance than a traditional garden. And it doesn't have to resemble an abandoned parking lot filled with cactus and rock. You can create a colorful garden that attract butterflies, honeybees and hummingbirds just by using plants such as lavender, Russian sage, yarrow, sedum and salvia, all of which thrive in dry conditions.

Salman suggests starting with a small area of your yard, such as 5-by-5-foot section. Add high-quality compost and organic fertilizers to the soil. The investment: one day and about $130, he says.

Find "paint-by-numbers"-style maps with lists of plants for xeriscaped gardens at High Country Gardens' website.

Add a water feature
Creating a water feature in your yard can add an attractive element that draws birds and provides a soothing sound. A simple fountain requires a $40 water pump and a power source, while a larger pond can cost as much as $2,000 in materials alone.

A small pond can be made using a plastic tub placed inside landscape block walls. You can dig out a larger pond if you are planning on having fish and aquatic plants. A pond liner costs $30 to $100, stone will total about $500, and a pump that circulates water through a pipe is $500 to $1,000, depending on the quantity of water.

Typically, ponds aren't deeper than 18 inches, and a standard footprint could be 5 by 8 feet to 8 by 10 feet, Leeman says.

To dig out a pond, you will need a shovel and a wheelbarrow, two to three people and perhaps a long weekend, he says.

Put up an under-eaves storage shed
You can clean up your yard and find a home for clutter by building an under-eaves storage shed. The shed, which can hold items such as shovels and small ladders, is a shallow, wide box built onto the exterior of your house.

You can build one for about $200, compared with the $500 that most people spend on stand-alone, prefabricated sheds. A handy person could build one in a weekend, Long says. The materials and scope of the project can vary, depending on your home's exterior.

View full article at http://realestate.msn.com/10-ways-to-reinvigorate-your-yard-in-a-weekend

There's time this month to do the prep work before the planting and growing season gets going.

March may find you sighing with impatience as you watch yet another snowfall cover your barren container boxes, but it's one of the most important months for gardeners.
There's still time to do all of your prep work, from honing tools to starting seeds, as you imagine the shapes, tastes and colors of your next garden. Spring begins with the vernal equinox on March 20.

Tool cleanup
If you didn't do so in the fall, it's time to give your lawn mower and other tools some tough love.
● Get ahead of the spring crowds by dropping off your lawn mower now to have the oil changed, bolts tightened and blades sharpened.
● Remove soil from your tools' metal parts using sandpaper or a hose.

• Sand rough edges on wooden tool handles, then coat them with linseed oil.
• Sharpen your tools. A file will sharpen tools of all sizes, from shovels and hoes to trowels and clippers. A Carborundum wheel will work on smaller tools. Pruning shears can be sharpened with a whetstone. After sharpening, use a rag to apply a thin, penetrating oil to metal tool parts; follow with a heavier oil on tools that have moving parts.  

Lawn doctoring

• The green, green grass of home doesn't get that way by accident, and March is a perfect time to assess your lawn's health.
• Pluck a 4- to 5-inch square from your yard to see what's going on down there. If your area has crane flies, count the larvae. Fewer than 35 per square foot means less work for you: Your lawn should be able to withstand that number.
• If you're not sure what to look for, take your lawn sample to an expert at your garden store and ask for a diagnosis; then just press your sample back into its "bed."
• Lime, treat moss and, finally, reseed as needed. (Overseeding can be done after midmonth.)
• Fertilize your lawn now or start a new lawn using seeds or sod.

Weeding
There's always the battle of the weeds. The only way to win that fight is to keep at it. Nip weeds at the bud — literally, for if they're allowed to flower and go to seed, you could be looking at several years' worth of uninvited guests: Some weeds shed 10,000 seeds at a pop.

• Remove weeds by hand.
• Consult an expert in your area for dealing with persistent pests such as quackgrass or morning glory. Recommendations for herbicide treatment vary depending on the location of your garden's problem spots.

Preparing soil
Once your soil has had a chance to thaw and lose some of its winter moisture, you'll want to prep it for planting.

• Remove mulch over the course of several days, exposing the soil gradually.
• Till or spade soil six to 12 inches deep.
• Mix in compost, peat moss and fertilizer for plants or vegetables. For vegetable gardens, include processed or well-rotted manure in the mix (using fresh manure in the spring may burn or damage your plants).
• Rake the soil level to smooth out low spots; pockets of water can make the soil cool, which slows plant growth.

Vegetables
Start planning your vegetable garden, keeping in mind the following guidelines.

• Choose neighboring vegetables carefully and you may as much as double your vegetable harvest. Onions, for example, are no friend to peas and beans but make good bedmates for tomatoes, strawberries, lettuce and beets.
• Depending on your planting zone and the vagaries of the weather gods, you can — finally — plant some perennial vegetables right in your rich new soil.
• Later in the month (in most zones) you can seed or set out hardier vegetables, such as chard and Brussels sprouts.

Starting seeds
Caponata lovers, get those warm-season crops started indoors from seeds, including tomatoes, eggplant and peppers.

• Whether you use egg cartons, trays or pots, be sure the seedlings get lots of light.
• Get a jump on the Joneses' blooming season by planting some hardy flower seeds, such as petunias and marigolds.
• Potted petunias, which stand up well to cool weather, can be placed on your deck now for a splash of color to whet your gardening appetite.

Pruning roses
After all the pleasure you've had from your rose bushes, now you can reward them with pruning. This will give bushes a more attractive shape and also result in larger blooms and longer stems. Use gloves to protect your hands from thorns.

• With a sturdy clipper, make your cuts just above outside buds to encourage new outward growth, giving the plant more sunlight and air.
• For more tips on pruning different kinds of rose bushes, consult a good gardening book or one of the many reputable gardening websites.

Planting
These are the deciduous days, so selections at garden stores and nurseries are at their peak — and not yet picked over — in March.

• From late March into April is a great time to plant fruit trees and berries. Just be sure they have enough water as they get used to their new neighborhood.
• In addition to zone-specific perennial vegetables, set out or plant new roses and cool-loving flowers such as snapdragons and pansies.

Slug control
As tender shoots start to poke up in the spring, they make a beggar's banquet for slugs. Plan your counterattack before young plants become young nubs.

• As with much garden damage control, natural methods are growing in popularity. One simple approach is to sprinkle slugs with salt, which causes them to dry up.
• Slugs are attracted to stale beer, which you can leave in a shallow dish or bowl; slugs will enter and drown.
• Or you can gather slugs at night by hand, armed with a flashlight, something to lift them with and a pail.
• If you use a commercial slug bait, read the label carefully to be sure it won't endanger children, pets or birds.

Fun for kids
Kids love to help with simple growing projects or to have plants of their own to watch and care for, especially if growth is rapid (remember those pint-size attention spans).

• Growing a hyacinth from the bulb is fun, easy and educational. Find a glass or plastic container with a narrow opening. Set the bulb over the opening, and fill the container with water to 1/8 inch to 1/4 inch below the bulb. As the bulb's roots grow downward for a drink, the top will soon begin to develop and bloom — a great lesson in how plants grow, with a colorful, fragrant result!
• Kids love watching plants grow from seeds. Beans, peas and parsley all grow quickly in pots, and seeds can be set in fun shapes or kids' initials.

For the birds
Find out who's likely to fly over for a visit in the next month or two, and target bird treats and feeder types for their individual tastes.

• Most bird species will go for either oil-type sunflower seeds or white millet (offered separately), but sunflower-seed munchers tend to prefer elevated feeders with perches, while millet lovers usually prefer ground or large platform feeders.

See entire article by Sally Anderson of MSN Real Estate - http://realestate.msn.com/march-gardening-checklist

12 mortgage tips for 2012 homebuyers

Getting a mortgage loan has become challenging in recent years. Don't expect that to change anytime soon.

Lending standards will remain tight in 2012, but that doesn't mean you won't be able to snag a mortgage with an attractive rate. Savvy borrowers who understand the rules and prepare will improve their chances of success.

These tips will help you stay on top of your game as you try to secure a mortgage in 2012.

Study your credit

Good credit is the key to snagging a mortgage in this tight lending environment. Get copies of your credit scores and credit history from the three main credit-reporting bureaus. Study the reports carefully to make sure there are no errors or issues to resolve before applying.

Most lenders require a minimum credit score of 680 to comply with Fannie Mae and Freddie Mac’s guidelines. Federal Housing Administration loans — which are guaranteed by the FHA — allow for lower scores, but most lenders want to stay away from scores lower than 620.

Prepare before you start

Every lender requests certain basic documents when you apply for a mortgage. Don't wait for them to ask.
Have these documents ready when you walk into the lender's office: your last two pay stubs, W-2s, income-tax returns and bank statements.

Save these documents and any additional ones the lender requests in an electronic format, so you can easily resend them if anything gets lost.

Know how much you can afford

Don't rely on your lender to tell you how much mortgage you qualify for and then borrow the maximum amount. Plan your budget, and leave room for unexpected expenses. That's especially the case when you are buying a house.

Bankrate's calculators can help you determine how much house you can afford and estimate your monthly mortgage payments.

Shop around

Shopping around for a mortgage should go beyond comparing interest rates. Rates are important, but would-be borrowers must consider points, closing costs and different types of loans. Get estimates from three banks and three mortgage brokers before you decide which combination works for you.

Time is of the essence

Once you submit your mortgage application to the lender, the clock starts ticking. Make sure you quickly send in any documents requested during the approval process.

For buyers, a delay in closing the loan could kill the purchase and cost them their deposits. When refinancing, a delay could mean losing the interest rate the borrower originally locked in. Ask for an expected closing date, and follow up with the lender periodically until the loan closes. Keep in mind, some lenders close more quickly than others.

Mortgage approved? Your credit must stay put until closing

After the lender pulls your credit and says you've been approved, don't assume you've won the battle. Most lenders will pull your credit again before the loan closes.

It's wise to avoid any moves that may affect your credit. Don't apply for new credit cards or credit lines. Pay your bills on time. Don't close any accounts. Don't finance a new car. Stay put until closing.

Consider refinancing with no closing costs

You don't always have to spend money to save money when refinancing. Many lenders offer mortgages with no closing costs. No, it's not a free ride. Lenders usually make up for those costs by charging the borrower a slightly higher interest rate. Sometimes the slight increase translates into a few extra dollars in the monthly payment, and the borrower can save thousands in closing costs.

Consider a shorter-term loan

Because interest rates have been at or near rock bottom, short-term loans have become more affordable for many borrowers.

Those who have a 30-year mortgage with an interest rate of 6% or higher may be able to refinance into a 20-year or 15-year loan while keeping their monthly mortgage payments close to what they pay now. Consider this option even when the short-term loan means slightly higher monthly payments. This is your chance to pay off your mortgage more quickly.

Receive a gift? Be ready to explain it

Did your parents or in-laws give you a few thousand dollars as a gift to help out with the down payment? If so, congratulations -- but make sure you can document and explain where you got the money.

FHA loans allow borrowers to receive their down payment as a gift from a relative. For conventional loans, borrowers may receive gifts, but at least a 5% percent down payment must come from their own funds.
Borrowers receiving a gift are required to present a gift letter signed by the donor, and they will need a paper trail of the money transfer. Be ready to present statements to show where the money came from when it was deposited into your account.

Unless the money is being used for the down payment, avoid receiving large cash deposits in your bank account until your mortgage closes. Any large deposits other than your paycheck will have to be explained to comply with federal regulations.

Be persistent

If one lender rejects your mortgage application, that doesn't mean all lenders will. Most lenders follow Fannie Mae and Freddie Mac guidelines. In addition, they have their own internal underwriting guidelines, and some are stricter than others.

Ask why your mortgage was denied. Depending on the reason, you may be able to take some quick steps to improve your credit, or you might just need to try a different lender.

Appraisal isn't enough? Try again

If the home appraisal your lender received isn't enough to back the mortgage loan and you think the appraiser is mistaken, try another lender.

You can't order a second appraisal or pick which appraiser the lender hires, but you can dispute the first appraisal or apply with a different lender.

In a perfect world, the appraised value of a home shouldn't vary drastically from one appraiser to another. But you may find that it does. If you believe the first appraiser is wrong, try a different lender and hope that lender's appraiser does a better job.

Seek help

If you are behind on your mortgage or are struggling to keep up with your mortgage payments, seek counseling.

The Department of Housing and Urban Development has counseling agencies throughout the country. Homeowners can receive free foreclosure-prevention counseling from HUD-approved counselors. To find a housing counseling agency near you call 800-569-4287 or visit the HUD website.

 Article by By Polyana da Costa of Bankrate.com

January Pending Home Sales Rise, Market on Uptrend

Pending home sales are on an upward trend, which has been uneven but meaningful since reaching a cyclical low last April, and are well above a year ago, according to the National Association of REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 2 percent to 97.0 in January from a downwardly revised 95.1 in December and is 8 percent higher than January 2011 when it was 89.8.  The data reflects contracts but not closings.
The January index is the highest since April 2010 when it reached 111.3 as buyers were rushing to take advantage of the home buyer tax credit.
Lawrence Yun, NAR chief economist, said this is a hopeful indicator going into the spring home-buying season.  “Given more favorable housing market conditions, the trend in contract activity implies we are on track for a more meaningful sales gain this year.  With a sustained downtrend in unsold inventory, this would bring about a broad price stabilization or even modest national price growth, of course with local variations.”
PHSI by region:
Northeast: rose 7.6 percent to 78.2 in January and is 9.8 percent above a year ago.
Midwest: declined 3.8 percent to 88.1 but is 10.8 percent higher than January 2011.
South: increased 7.7 percent to an index of 109.1 in January and are 10.5 percent above a year ago.
West: fell 4.4 percent in January to 101.9 but is 0.7 percent above January 2011.
“Movements in the index have been uneven, reflecting the headwinds of tight credit, but job gains, high affordability and rising rents are hopefully pushing the market into what appears to be a sustained housing recovery,” Yun said.  “If and when credit availability conditions return to normal, home sales will likely get a 15 percent boost, speed up the home-price recovery, and thereby significantly reduce the number of homeowners who are underwater.”

Article from REALTORMag

Study Calls Today’s Market Good Time to Buy

Researchers from several universities have just completed a paper that looks at what they call the hurdle rate. This is the point at which it’s equally smart to rent or buy if your only criterion is to build wealth. Based on today’s hurdle rate, it’s a better time to buy than to rent, because you can build more wealth owning than renting. Read More...