Some happy news about our economy!

Fed Chair Says the Worst Is Over


Federal Reserve Chair Ben Bernanke said on Friday that he was optimistic the economy is about to take off.

Bernanke acknowledged that credit is still tight, especially for businesses, but he told an audience of bankers, academics, and economists that the worst is over.

"Although we have avoided the worst, difficult challenges still lie ahead," Bernanke said. "We must work together to build on the gains already made to secure a sustained economic recovery."

Bernanke called for stronger regulation of financial rules "to ensure that the enormous costs of the past two years will not be borne again."

Source: The Associated Press, Jeannine Aversa (08/21/2009)

Home Staging 101

One of the most important things a home owner can do is to make their home as attractive as possible to buyers. One of the simplest ways is through home staging. I plan on leaving lots of tidbits here on home staging! It's a fun topic and a very hot topic in real estate these days.

So, some basics with the interior to start with:

Remove clutter in all areas of the home
Remove personal items or wall hangings that might distract buyers' attention
Re-arrange furniture to create more space or draw the buyer in
Add or replace furnishings
Lighting changes to make rooms brighter or accent items
Painting rooms with neutral colors

A terrific article for those buying New Construction!

Things I Wish I'd Known Before Buying a New Home

Avoid the top six mistakes new-home buyers make

By Bob Weinstein, FrontDoor.com | Published: 3/17/2009

One of the biggest mistakes new-home buyers make is assuming that everything in their house will work perfectly because it's brand new.

No matter how precise and careful builders are, there is no such thing as a perfect house, asserts Diane Saatchi, a senior vice president at real estate firm The Corcoran Group's East Hampton, N.Y., office. The company has offices throughout New York and South Florida.

"Problems always crop up," she says, "even though all the items on the builder's punch list (a list of all the things the builder must complete before closing) were resolved prior to the closing."

However, the new problems weren't on the punch list, and the new-home buyers have ended the relationship with the builders, which is a big mistake the frustrated homeowners now regret. For example, owners discover that the house's hot water tank is inadequate and can't supply enough hot water for three people taking showers at the same time. Or circuit breakers are shutting down when too many appliances are used simultaneously because the builder cheaped on wiring. And that's only the tip of the proverbial iceberg, says Saatchi.

The solution? Build a clause into the contract for fixing unidentified problems.

New-home buyers should prepare themselves for all contingencies by having their attorney include a clause in the contract that says that unidentified issues that crop up after the closing must be resolved. "The standard new construction insurance policy or warranty seldom covers these issues," Saatchi cautions.

And even when problems are resolved, never end a relationship with a builder, advises Saatchi. "Always maintain a good rapport because there is no predicting what problems will suddenly surface years after the homes were bought."