Friday, April 20 2012
The 15-year fixed-rate mortgage, often the top choice of home refinancers, reached a new all-time record low of 3.11 percent this week, Freddie Mac reports in this week’s mortgage market survey. The 30-year fixed-rate mortgage also sank lower this week, hovering near it’s all-time low. "Fixed mortgage rates eased for the third consecutive week following long-term Treasury bond yields lower after a weaker than expected employment report for March,” Freddie Mac’s Chief Economist Frank Nothaft says. Here’s how rates fared for the week ending April 12:
Source: Freddie Mac Thursday, April 19 2012
More home buyers may jump off the sidelines this spring as they get more urgent about purchasing a home, fearing that home price and mortgage rate increases are on the horizon. Housing surveys in recent weeks have shown that more Americans are seeing now a great time to purchase a home. In the most recent survey, 73 percent of Americans say now is a good time to buy, according to the latest Fannie Mae Housing Survey conducted in March. That’s up from 70 percent in February who said it was a great time to buy. "Conditions are coming together to encourage people to want to buy homes," says Doug Duncan, Fannie Mae’s chief economist. "With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that home ownership is a more compelling housing choice." Indeed, more buyer urgency is evident in the market. Thirty-three percent of those surveyed by Fannie say they expect home prices soon to increase, which is the highest percentage in a year. What’s more, nearly 40 percent say they expect mortgage rates to rise in the next year too, which is also up from previous surveys. Coupled with that, 48 percent of Americans say they expect rents to continue to climb, and 44 percent say they expect their financial situation to improve in the next year. Source: “More Americans Think It’s Time to Buy a Home,” MSN Real Estate (April 9, 2012) Wednesday, April 18 2012
Market Watch
Last month’s Market Watch was all about listings. I suggested that based on the way this year’s real estate market has started that we would soon need more listings and that based on virtually any measure, now would be a good time to list your home if you were considering a move. Everything I suggested last month has proven to be true and there are even more reasons to list real estate for sale now.
We have fewer homes on the market than at any time in 6 years. The month’s supply of homes on the market (6.59) is lower than it has been for 68 of the past 70 months. Our average month’s supply for the first 3 months has been lower than any year for the past 4 years. We have seen slight improvements in both our list to sale price ratio (95.10%) and in our days on market number. Unit sales are up 7% from the first 3 months of last year and I am confident that next month will show continued improvement. Even the national media has made some positive comments about real estate.
Although everything I said in the previous two paragraphs is true and I am confident that now is a good time to list a home. I don’t want to overstate or exaggerate the current state of our real estate market. Things have definitely improved but we will not have as strong a year as we did in 2006 or 2007. Prices have improved but have not returned to their previous highs. Although the market has rebounded it would not surprise me to see a little slowdown this fall because of uncertainty about this fall’s election. Interest rates are great but will not stay this low forever, which is another reason for buyers to act and take advantage of current rates.
As always I am happy to answer your real estate questions. You can reach me on my cell phone at 812-499 or email Rolando@RolandoTrentini.comTuesday, April 17 2012
As the saying goes: April showers bring May flowers! With more rain in the springtime months of April and May, now's the perfect opportunity to get your rain gutters in tip-top shape. As a homeowner, you're probably wondering what the best way would be to maintain those gutters and I've got the answer for you! We have compiled a handy list of tips that will help you to save money by doing it yourself, so that you can simply enjoy the rain once it comes.
If you need any additional tips, please feel free to call me Rolando at 499-9234 or Kathy at
499-0246. Also if you have friends or family who are in need of real estate service or advice, we hope you'll give them our name. We are always happy to help!
FIVE TIPS FOR SAFELY CLEANING YOUR RAIN GUTTERS
· Maintenance means everything: Ideally, you should clean your gutters twice per year. Maintaining clean gutters will help you to avoid drainage problems that could potentially lead to more costly repairs.
· Climb on up: Borrowing (or investing in) a good, sturdy ladder is the key to ensuring your personal safety and to making the task as hassle-free as possible. Make sure that the ladder is placed on a flat, steady surface, and follow the rule of two: never stand on the top two rungs of a ladder, as it becomes very difficult to maintain your balance.
· Protect yourself: Thick, heavy gloves are a must when performing this kind of task. Gutters may have sharp or jagged metal pieces as well as screws or nails that may pose a danger to your hands and fingers. Want additional protection? Safety glasses are also a good idea!
· Up on the roof: Santa might find rooftops to be a walk in the park, but for the rest of us, they aren't generally ideal perches. However, if you have a flat roof or a roof with a low slope, you may find it easier to accomplish the cleaning by situating yourself up top. Always use extreme caution, wear non-slip shoes and never opt for this choice in bad weather!
Scoop, blast and repair: Once you're ready to start cleaning, follow a simple three-step process to get the most out of the task. Scoop out any debris, blast the drains clean with a high-powered hose, and repair any leaks you may find along the way. Monday, April 16 2012
Buying homes and renting them are such distinctly separate aspects of Evansville’s real estate scene that we tend to pay attention only to the sector we are most involved with. We pretty much ignore the other. Renters and real estate investors watch trends in residential rentals, while homeowners and soon-to-be homeowners check on prices and activity in the local home market.
All of which means that it’s easy to overlook how trends in one sector have major impacts on the other. And any sort of residential construction activity – new building or remodeling – has a direct and positive impact on our economy as a whole.
So here’s some good news: this year, rental construction is expected to reach its highest level since 2005. Somehow that may not seem like such a big deal, but despite the way it looks, 2005 is SEVEN years ago (time flies, doesn’t it?)! Those have been seven painful years for most of the construction folks we know, so the change comes as welcome news. It’s also possible that a turnaround could mean that other turnarounds in different areas of the economy may be in the wind.
The apartment experts at NMHC just published something that most of us already suspected. They found that nationally, apartment vacancy rates fell to a decade low of 4.9%. We have already written about how asking rents continue to rise (in March, up .5% from the previous month). The same experts noted that some empty-nesters seem to be increasingly likely to opt for the convenience of apartment living -- even those who could easily afford to buy.
It explains why more investors are stepping up to order the building of new rental homes even as many older apartments and rental homes are being renovated. Add to that recent government moves to encourage lenders to become at least temporary landlords, and the result is real activity. Budgets have been tight for families in recent years, which may have caused them to decide to choose rental homes that were older, hence less expensive. If the economy continues to strengthen, these same families may later be able to afford to look at one of the new rental homes now under construction. It’s likely that many tenants would choose to live in a place that is a product of new construction, or in a complex that has been recently renovated.
All that increased building activity is another sign that the housing market as a whole is waking up. In the longer range, since newer rentals generally cost more money, more would-be tenants will ultimately reconsider the prospect of owning a home – in turn increasing demand for first-time or entry level homes.
Wherever your family falls in theEvansville real estate mix, don’t hesitate to call me when you have a question about the market and what is available for you. You can reach me on my cell phone at 812-499-9234 or email at Rolando@RolandoTrentini.com
Friday, April 13 2012
Home buying is the smarter choice than renting, according to Trulia’s Winter 2012 Rent vs. Buy Index. Buying a home is more affordable than renting in 98 of the nation’s 100 largest metro areas, according to the index, which tracks asking prices for rental units compared to for-sale homes in major metro areas. The only two metros out of the 100 tracked where renting was found to be the better deal: Honolulu and San Francisco. Still, the index notes that if you plan to stay in those markets more than five years, you might still be better off owning than renting in those markets too. Falling home values and low mortgage rates have made home ownership more affordable. Meanwhile, rents have been on the rise. “As rents rise and prices stagnate, home ownership is becoming even more affordable, but rising rents create a dilemma for people who can’t afford to buy yet,” says Jed Kolko, Trulia’s chief economist. “Rising rents make it harder for people to save for a down payment, which is the biggest barrier to buying a home that aspiring home owners face.” Top 10 Metros to Buy vs. Rent 1. Detroit 2. Oklahoma City, Okla. 3. Dayton, Ohio 4. Warren-Troy-Farmington Hills, Mich. 5. Toledo, Ohio 6. Grand Rapids, Mich. 7. Cleveland, Ohio 8. Atlanta 9. Gary, Ind. 10. Memphis, Tenn. By Melissa Dittmann Tracey, REALTOR® Magazine Daily News http://realtormag.realtor.org/daily-news/2012/03/22/buying-cheaper-renting-in-nearly-all-major-cities
Thursday, April 12 2012
Evansville-based Accuride Corp. (NYSE: ACW) is planning to upgrade its Camden, South Carolina plant and hire more employees. The $8.7 million aluminum wheel line expansion could add around 25 additional jobs. Accuride Corporation (NYSE: ACW), a leading supplier of components to the commercial vehicle industry, today announced plans to expand aluminum wheel production capacity at its Kershaw County plant. The company will invest at least $8.73 million to add two machine lines as part of the expansion, which will generate at least 25 new jobs. The Kershaw County Council is expected today to vote in favor of a Fee in Lieu of Taxes (FILOT) agreement for the project; and the company is utilizing South Carolina's readySC worker training program for new hires.“We are pleased to move forward with plans to expand our Kershaw County operations. Our investment helps to ensure we have the right production capacity in place where and when our customers need it, at a higher standard of quality and dependability,” said Accuride Corporation President and CEO Rick Dauch. “South Carolina has the business environment and the skilled workforce our facility will require to successfully grow both now and in the future; and we appreciate the support we’ve received from both state and local officials to ensure that this happens,” stated Accuride Camden Director of Operations Don Krampe. In June 2011, Accuride acquired substantially all of the assets of Forgitron Technologies LLC, including the 80,000-square-foot manufacturing facility located at 30 Hengst Blvd. in Camden. Shortly thereafter, Accuride converted the plant to its standards, and announced plans to expand capacity and produce a range of forged aluminum commercial vehicle wheels at the facility. “Today’s announcement is another win for one of our state’s rural areas. We celebrate Accuride’s decision to invest $8.73 million and create 25 new jobs in Camden. South Carolina continues to provide the business-friendly-climate where companies of all sizes can grow and prosper,” said Gov. Nikki Haley. In 2011, South Carolina recruited more than $4.7 billion in investment and more than 13,000 new jobs in the manufacturing sector. “South Carolina’s manufacturing renaissance continues to build up steam with announcements like this one from Accuride. This announcement also shows that our automotive-related sector continues to create new jobs,” said Secretary of Commerce Bobby Hitt. “It is exciting to see that Accuride, one of our industry neighbors, is growing and prospering,” said Kershaw County Council Chairman Gene Wise. “This is the solid result of the supportive pro-business climate we enjoy in Kershaw County.” “We are excited about today's announcement by Accuride Corporation to expand their operations in Kershaw County. More and more corporations are discovering the benefits of investing in South Carolina. We welcome these new jobs and greatly appreciate being a part of the corporate strategy and development plans of Accuride,” said Central SC Alliance Chairman Jim Apple. The company has already begun hiring for the new positions. Anyone interested in job opportunities with the company should contact SCWorks at (803) 432-5153. About Accuride Corporation With headquarters in Evansville, Ind., USA, Accuride Corporation is a leading supplier of components to the commercial vehicle industry. The company’s products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, and other commercial vehicle components. The company’s products are marketed under its brand names, which include Accuride®, Gunite®, ImperialTM and BrillionTM. Accuride’s common stock trades on the New York Stock Exchange under the ticker symbol ACW. For more information, visit the company’s website at www.AccurideCorp.com. Source: Accuride Corp. http://www.insideindianabusiness.com/newsitem.asp?ID=53138
Wednesday, April 11 2012
As a whole, we Americans are an interesting group. We are smart, educated, involved in our community…and, not unlike the rest of America, our attention span about 5 or 10 seconds. It follows that when you put your home on the market and your agent places it among theEvansville realty listings, your home has about that long to grab potential buyers’ attention.
Time and time again, studies show that realty listings with superior curb appeal get markedly more attention than those with run-of-the-mill photos. First impressions count. It’s how advertising agencies can charge hundreds of thousands of dollars to get just the right angle with just the right lighting on their perfectly-designed product packages. In ad-speak, that photo with the perfect angle and lighting is called the ‘hero shot’.
Your home can have its own ‘hero shot’. Its landscaping, color, the condition of its driveway, walkway, garage and backyard, along with the overall neatness combine to make a true ‘hero shot’ that will stand out from the other Evansville realty listings. That same look (over and above the one in the photographer’s viewfinder) can also be counted upon to draw the attention of potential buyers who happen to be just driving by.
It’s not surprising, either, that curb appeal also affects the value and salability of realty listings. A study by the University of Washington found that "mature trees in a well-landscaped yard can increase the value of a house by 7% - 19%.” On the other hand, overgrown trees that obscure the view of the home can delay its sale.
The curb appeal of homes almost defines a neighborhood’s appeal, and vice versa. Any home that is well kept improves the image of the rest of the houses on any street. In the same way, a home with a neglected look can bring down the general appeal of the entire neighborhood. You already know what it’s like to drive by a street lined with houses that are all beautifully maintained. Now that’s the kind of place where you would definitely want to live!
If you are giving serious consideration to selling your home, call me anytime for a “curb appeal” consultation. Usually, just a few easy steps are all it takes to improve that vital first impression!
You can reach me on my cell phone 812-499-9234 or email me at Rolando@RolandoTrentini.com Tuesday, April 10 2012
The first three months of 2012 have been record-breakers for Evansville's Mesker Park Zoo & Botanic Garden. Park officials believe mild weather and spring break schedules contributed to the increased attendance. Zoo Officials believe that many factors, including the unseasonable warm weather, Orchid Escape, and spring breaks have helped Mesker Park Zoo & Botanic Garden achieve the highest January, February, and March attendance in Zoo history. During the course of January, 2,699 guests visited the Zoo, February attendance was a record breaking 6,342 visitors, and March boasted 27,612 visitors. In comparison, these numbers topped the previous January record by 26%, February record by 9% and March record by 59%. According to Amos Morris, Zoo Director, “The first quarter of the year is always a challenge for zoos. We are always dreaming up ways to boost attendance and generate excitement. We thank you for your support and we hope the weather and continued Zoo events keep you coming back throughout the year.” Mesker Park Zoo & Botanic Garden is open 365 days a year from 9 AM – 5 PM, entry gate closes at 4 PM. Admission for adults is $8.50 and children ages 3-12 are $7.50. Children 2 and under are free. In recognition of their support, Vanderburgh County residents receive $1 discount. Please visit www.meskerparkzoo.com for information regarding yearly memberships or other Zoo services. Source: Mesker Park Zoo & Botanic Garden http://www.insideindianabusiness.com/newsitem.asp?ID=53078
Monday, April 09 2012
With spring in the air, notions of fresh starts and new horizons have a way of pushing into just about everybody’s consciousness. It’s only natural, whether because of the weather, school schedules, or everything else around us that seems fresh and new. And something else is in the air, too: if past history is any guide, now is also simply the most popular time of year to sell or buy Evansville homes.
For those with a home to sell, this is traditionally the most active time to be in the real estate market. Homes entered in Evansville property listings during springtime can be expected to attract buyers more quickly, and they stand a better chance of fetching a good price. With 60% of moves in America taking place during the summer months (most likely a reflection of the school year schedule), it stands to reason that spring is a great time to get yourEvansvilleproperty onto the market.
For potential homebuyers expecting to shop for a new home sometime this year, there is ample reason to swing into action sooner rather than later. Evansville property listings can be expected to conform to the national trend: at a rapidly rising rate, Realtors® expect constant or higher residential prices in the coming year (73% vs. 62% just three months ago, according to the NAR). Following the past few years of price declines, it won’t be surprising if the market’s recovery brings a rapid rise in prices. Then the bargains people have begun to take for granted could quickly become tomorrow’s regretful “I could have bought that house for only $---” stories…that happens again and again. Those who know they are going to be in the market this year should seriously consider getting in the market!
For both buyers and sellers, spring is the most popular season for a number of reasons. Especially for families with kids in school, or anyone whose business is geared to encourage summer vacations, it’s also the most sensible time to act. Whether you will be adding your own contribution to our area’s property listings, or beginning to comb those property listings to zero in on a new home, do get in touch with me to help make this spring the one that makes 2012 your Year of the Big Move! Feel free to call me at 812-499-9234 or email me at Rolando@RolandoTrentini.com | |||||||
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The Trentini Team
PRIVACY POLICY
The Trentini Team is the sole owner of the information collected on this site. Neither The Trentini Team nor the team associates will sell, share, or rent this confidential information to others. Your privacy is the primary issue for The Trentini Team. CONTACT POLICY By submitting personal information such as name, address, phone number, email address and/or additional data, the real estate client/prospect consents that The Trentini Team or their authorized representative may contact client/prospect by phone, U.S. Postal System, or e-mail whether or not client/prospect is participating in a state, federal or other "do not contact" program of any type. Copyright© 2007 The Trentini Team, REALTOR®, All Rights Reserved.
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