Archive for June, 2009
July 4th Celebrations in the Greater Knoxville TN Area
June 30th, 2009 categories: General
Well once again there are many exciting events this year to celebrate the 4th of July.
Here in Knoxville it will be in the World’s Fair Park from 2:00-10:00 pm with alot of events for the family. Here are all the details
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With The Year Half-Over, How Accurately Did Economists Predict 2009
June 30th, 2009 categories: General, Market Trends
At the start of the year, the “experts” made a lot of predictions about the U.S. economy and what to expect in 2009.
- Some said housing would rise
- Some said housing would fall
- Some said mortgage rates would rise
- Some said mortgage rates would fall
And nobody predicted just big the government’s stimulus package would be.
Now, on June 30, with the year officially half-over, it’s as good a time as any to remember that people are much better at interpreting the past than predicting the future. Economists can make educated guesses about the future, but they’re guesses nonetheless.
It’s like watching the Weather Channel. A meterologist can look at the data and say it’s going to rain next week, but the forecast is never 100%.
So far this year, mortgage rates have been up and down, credit availability has been higher and lower, and home prices have varied immensely from neighborhood to neighborhood.
There’s another 6 months until 2010 and there’s no reason to expect the current volatility and uncertainty to change.
The world is unpredictable and so is the U.S. economy. Therefore, consider making your personal finance decisions based on the information at hand today instead of on an educated guess about the future.
After all, the weatherman’s been wrong before.
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All-Natural Pest Control That’s Effective And Safe For Kids And Pets
June 29th, 2009 categories: General
In between visits from the exterminator, it’s not uncommon to see the occasional ant, spider or roach or insect around the house.
But what to do about it?
One solution is Terminix SafeShield, a new, eco-friendly home pest control product introduced earlier this year.
Formulated by an independent pesticide company, Terminix SafeShield is a non-aerosol bug spray whose active ingredients are all-natural. The formula is said to control 25 types of in-home pests and kills bugs fast.
Because of its natural composition, SafeShield is safe for use around kids and pets — a huge advantage over chemical-laden, off-the-shelf products. However, this same composition is also the product’s weak spot. Its oils and ingredients are most effective as spot treatments — not long-lasting ones.
Although it’s meant to complement a professional Terminix treatment, SafeShield can be purchased by-the-bottle at the Terminix website.
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In Another Good Sign For The Housing Market, Builders Are Clearing Out Their Inventory
June 26th, 2009 categories: General, Market Trends
If you only saw the headlines this week, you may have missed another positive sign in the housing market.
According to the Census Bureau, the supply of newly-built homes for sale fell to 10.2 months in May, its lowest level in 10 months.
Unfortunately, the New Homes Sales story wasn’t positioned as a positively by the press. Instead, the most common headline on the data read “New Home Sales Dip 0.6%” with many journalists referring to the figures as “weak” or “disappointing”.
Only, that’s not completely true.
See, one of the nice elements of the monthly New Home Sales report is its footnote section in which the Census Bureau talks about statistical Margin of Error and that section tells us that if the Margin of Error is larger than the measurement itself, the report is useless.
And that’s exactly what happened in May.
New Home Sales were measured to have fallen by 0.6 percent but that data point was dwarfed by its 17.8 percent Margin of Error, The “headline data”, in other words, was just a guess.
The press reported it anyway.
Nonetheless, as it relates to the economy, falling home inventories are a positive. Having 10-plus months of homes on the market is still high historically, but a definite improvement over what we saw earlier this year.
So long as low mortgage rates and aggressive pricing persists from builders, we expect even less supply in the months ahead.
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A Simple Explanation Of The Federal Reserve Statement (June 24, 2009 Edition)
June 24th, 2009 categories: General, Market Trends
The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today within its target range of 0.000-0.250 percent.
The Fed also reiterated its plan to support the mortgage market to the tune of $1.5 trillion.
In its press release, the FOMC noted that the U.S. economy is not slowing with the same speed versus just two months ago and that financial markets, in general, are improving.
These are two signs that the country may be emerging from recession, if it hasn’t already.
The news isn’t all good, however. The Fed made a point to highlight the potential hazards the nations faces on its path to economic recovery:
- The prices of energy and commodities have been rising
- Job losses are still mounting nationally
- Businesses are reducing capital expenditures
Also in its statement, the Fed acknowledged a plan to hold the Fed Funds Rate near zero percent “for an extended period” and a re-commitment to the U.S. Treasury and Mortgage Bond markets.
Market reaction to the Fed’s press release has been muted.
With no new stimulus and no new “tools” to spur the economy unveiled, Wall Street is business as usual. Mortgage rates are unchanged post-FOMC today.
The FOMC’s next scheduled meeting is August 11-12, 2009.
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3 More Signs Of A Strengthening Housing Market
June 24th, 2009 categories: Buyers
The housing market got another dose of good news yesterday.
According to the National Association of REALTORS, the number of homes sold in May increased for the third straight month and the national housing supply fell by 5 months.
Furthermore, first-time home buyers are accounting for nearly one-third of the market activity.
But, before we declare a bottom in housing, it’s important that we remember the First Rule of Real Estate:
All Real Estate Is Local
National housing statistics like Existing Home Sales are painted with a very broad brush. They lump disparate locales such as San Francisco and Seattle into one sample set and don’t account for regional differences, let alone neighborhood ones.
Furthermore, getting down to a city-by-city, or even street-by-street basis, we can always find homes that are selling quickly and home that are languishing. Real estate is highly local and subject to countless influences.
That said, the national data isn’t completely useless. From the patterns, we can infer that low mortgage rates, ample home supply and available tax credits are providing a quantifiable boost to the broader real estate market.
And based on recent pending sales data, we can expect June and July’s Existing Home Sales figures to be similarly strong to May.
Therefore, if you’re in the market for a new home right now — or plan to be soon — be conscious of home inventory levels in your target neighborhoods. Fewer homes on the market usually means less ability for buyers to negotiate and that leads to higher sales prices.
Plus, the NAR is reporting buyer activity up 10 percent from last year.
The housing market may not be fully recovered in every housing market just yet, but in studying the data, a lot of the pieces appear to be falling into place.
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467 Little Dogwood on 5 Acres in Kingston TN
June 23rd, 2009 categories: Buyers, General, Market Trends
This is an outstanding opportunity to own your own retreat with views of Watts Bar. This home features 4 bedrooms and 4 full baths all on 4.80 acres. Very private yet only about 20 minutes to Turkey Creek
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Knoxville Waterfront Home $299,900
June 23rd, 2009 categories: Buyers
What A Great Opportunity to Live on the Water!!
This brick basement rancher is located at 3924 Gooseneck in South Knoxville. It is often that you can find a waterfront home in Knoxville for only $299,900. The home features 3 bedrooms and 2 full bathrooms. The master suite is very large with private bath and walk in closet. The great room has a vaulted ceiling and a gas fireplace. There are hardwood floors in the great room and dining room. Kitchen is very nice with a large snack bar area in the dining room area. Read the rest of this entry »
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Knoxville Home Buyers Like To Play It Cautious? Consider Rate Locking Ahead Of Wednesday’s Federal Reserve Meeting.
June 23rd, 2009 categories: Buyers
If you have a Knoxville house under contract…… Don’t Play Around… Lock that rate NOW!!!
The Federal Reserve begins its scheduled two-day meeting this morning.
It’s one of 8 scheduled meetings for the Federal Open Market Committee this year.
When the FOMC meets, it discusses the financial and economic conditions around the country and, when appropriate, the group makes new policy meant to speed up or slow down the economy.
The main tool for reaching this goal is the Fed Funds Rate and, earlier this year, the FOMC lowered it to “near-zero” percent in an attempt to stimulate growth.
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Video : How To Remove Hard-Water Stains From Your Shower
June 22nd, 2009 categories: Buyers, General
Water high in mineral content — specifically calcium and magnesium — is more commonly known as “hard water“.
There’s no negative link between hard water and human health, but hard water has been known to mess with a homeowner’s penchant for cleanliness. Over time, mineral deposits can collect and “stain” anywhere that there’s running water.
In the home, hard water stains are most commonly found in bathrooms.
In this 2-minute video from Rachel Yatuzis, we see the Hard Water Stain Remedy in action. It doesn’t take much time, or even much effort. Removing the stains can be as simple as mixing lemon juice, vinegar, and baking soda.
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