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7/29/2011
NAR Urges Action on Debt Ceiling
Daily Real Estate News | Friday, July 29, 2011
The following is a statement by National Association of REALTORS® President Ron Phipps:
“The National Association ofREALTORS®, on behalf of its 1.1 million members, their clients and customers, and the nation’s 75 million home owners, urges Congress to resolve the mounting debt ceiling crisis before the August 2 deadline.
“Until a resolution is reached, Congress will be unable to address the myriad issues facing the nation’s families, communities, and economy. The indecision in Congress is paralyzing progress on other fronts, and it is harming home buyer confidence and negatively affecting home sales.
“REALTORS® sincerely hope that members of Congress can come together on this issue so that the country can move forward toward a housing and economic recovery.”
Source: NAR
7/22/2011
With a heat advisory in effect for the next couple of days, it's time to brush up on hot weather safety and cooling-off strategies. Follow these tips from the American Red Cross to stay as cool as possible in hot weather:
1. Dress for the heat: Wear lightweight, light-colored clothing. Light colors will reflect away some of the sun's energy. It is also a good idea to wear hats or to use an umbrella.
2. Drink water: Carry water or juice with you and drink continuously even if you do not feel thirsty. Avoid alcohol and caffeine, which dehydrate the body. Avoid using salt tablets unless directed to do so by a physician.
3. Eat small meals and eat more often: Avoid high-protein foods, which increase metabolic heat.
4. Slow down: Avoid strenuous activity. If you must do strenuous activity, do it during the coolest part of the day, which is usually in the morning between 4 and 7 a.m.
5. Stay indoors when possible: If air-conditioning is not available, stay on the lowest floor out of the sunshine. Remember that electric fans do not cool, they simply circulate the air.
6. Be a good neighbor: During heat waves, check in on elderly residents in your neighborhood and those who do not have air conditioning.
Learn to recognize these heat-related illnesses:
Heat cramps: Muscular pains and spasms due to heavy exertion. Although heat cramps are the least severe, they are an early signal that the body is having trouble with the heat.
Heat exhaustion: This condition typically occurs when people exercise heavily or work in a hot, humid place where body fluids are lost through heavy sweating. Blood flow to the skin increases, causing blood flow to decrease to the vital organs. This results in a form of mild shock. If not treated, the victim may suffer heat stroke. Signals of heat exhaustion include cool, moist, pale flushed or red skin; heavy sweating; headache; nausea or vomiting; dizziness; and exhaustion. Body temperature will be near normal.
Heat stroke: Also known as sunstroke, heat stroke is life-threatening. The victim's temperature control system, which produces sweating to cool the body, stops working. The body temperature can rise so high that brain damage and death may result if the body is not cooled quickly. Signals include hot, red and dry skin; changes in consciousness; rapid, weak pulse; and rapid, shallow breathing. Body temperature can be very high—sometimes as high as 105 degrees.
6/07/2011
5/23/2011
Finding the Right Sales Price Isn't Easy
In a volatile real estate market, knowing the right price for a home isn’t always clear, experts say.
Having to drop a home's sale price from its initial list price is common. On average, sellers reduce their list prices after about 2.5 months by 8 percent when a property hasn't sold yet, according to a report by Trulia.com. After making one price reduction, 35 percent of those sellers will make a second price cut too.
Even homes without any obvious faults are undergoing price cuts, agents say.
Real estate pros are finding that to find the right price for a home is much more than comparing it to a set of comps. But determining a price to fit a few of a home's unique limitations isn't easy. For example, a 1946 five-bedroom home in a sought-after neighborhood in Scarsdale, N.Y., has had five sales price adjustments. It was first listed at $1.699 million and now is on the market for $1.278 million.
While buyer offers are coming in, real estate pro Claire Civetta with Coldwell Banker Residential Brokerage in Scarsdale, N.Y., says they are far below asking price. The home is on a busy road and doesn’t have as large of buffer from street noise as other nearby homes.
So while comparable houses reveal this one to be well priced, Civetta says “the market has been telling us something else.”
Source: “In House Pricing, Own Up to Flaws,” The New York Times (May 19, 2011)
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