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-
Real Estate Market Update
- Market Monitor
- Buyers & Seller's Corner
- For Sale By Owner
- Home Improvement
- Featured Towns
- Featured Homes
- Cool/Free/Fun/Trendy
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July 2008
4 -- Fourth of
July
14 -- Bastille Day
18 -- Full Moon Day
24 -- Tequila Day
27 -- Parent's Day
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The
things taught in schools and colleges are not an education, but
the means
of education.
-- Ralph Waldo Emerson
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According to a
recent forecast by the National Association of Realtors®, a modest
gain in the level of home sales is possible over the next couple
months, and an improvement is forecast for the second half of this
year as more buyers are able to access affordable mortgages.
The Pending Home Sales
Index (PHSI), a forward-looking indicator based on contracts signed in April,
rose 6.3 percent to 88.2. It’s the highest index since last October, but remains
13.1 percent lower than April 2007 when it stood at 101.5.
“Bargain hunters have
entered the market en masse, especially in areas that have experienced
double-digit price declines, but it’s unclear if they are investors or
owner-occupants,” said NAR Chief Economist Lawrence Yun. “Sharp price reductions
are leading to a quicker discovery of price equilibrium points. The West is
already seeing year-over-year gains in pending contracts.”
In the West, the PHSI rose
8.3 percent to 98.8 in April and is 4.0 percent higher than April 2007. In the
Midwest, the index jumped 13.0 percent to 83.7 but remains 13.1 percent below a
year ago. The South increased 4.6 percent to 88.8 but is 22.5 percent below
April 2007. In the Northeast, the index declined 1.9 percent in April to 79.3
and is 12.2 percent below a year ago.
NAR’s housing
affordability index has been trending up this year and is projected to rise 15
percentage points to 128.0 for all of 2008, the report said. The 30-year
fixed-rate mortgage should rise gradually to 6.3 percent by the end of this
year.
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Market
Monitor
Dying
to Sell His Home
By:
Tim McLaughlin
Whoever
buys Bob Fanning's house will hope he dies. And Fanning is fine with
that. Trying to separate his 5,600 square foot western Wisconsin home from others in the real estate market, Fanning,
69, has come up with an odd incentive: The buyer will be named
beneficiary to a 10-year, $500,000 term life insurance policy. If
Fanning dies in that time, the purchase price of the Whitehall, Wis., home, listed at $498,900, is covered.
"He's
an outside-the-box thinker, no question about it," said his
Realtor, Wayne Peters. Most younger sellers couldn't plausibly use
such a sales tactic, Peters said, but when someone is 69 "the
odds are getting to the point where people realize that there's a
significant chance that they could collect." Fanning, who said
he has taken his share of risks as a businessman, said he thinks
it's a great deal.
It would be voided if there are any shenanigans, though.
"The policy says he can't commit suicide, nor can they knock
him off," Peters said. "The attorneys have provided for
that." But isn't Fanning afraid of any, er, "unfortunate
accidents"? "I had maybe a 10-second thought about that
when we signed the policy," Fanning said. "I'm pretty low
profile to begin with."
His
wife, Janus, said she is supportive of his entrepreneurial thinking.
"I'm always in awe of how he comes up with a different way of
doing things," she said. "It's a perk for the house."
As for the odds: Fanning said he has no health problems, though he
joked that he's "too short" for his weight. Both his
parents died before age 79, as did a sister.
Without
being specific, Fanning said he paid a hefty price for the insurance
policy "because actuary tables show I might not reach 79, so I
think it's a hell of an incentive to buy a home." In Fanning's
mind, it's not taboo to put a price on his head, as well as on his
house. "When you get to this age," he said, "death is
something you have to start to deal with."
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How often we fail to realize our good fortune in living in a country where
happiness is more than a lack of tragedy.
-- Paul Sweeney
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Tips on Homeowners Insurance
When
purchasing a home you will be required to show proof that you have homeowners
insurance, also commonly called hazard insurance or home insurance. In fact, all
lenders will require a policy to be in force prior to funding the loan.
The
most commonly written policy, the HO-3, is designed to cover all aspects of the
home, structure, its contents, loss of its use, loss of personal possessions and
liability in the event of an accident.
It's
important that your policy specifically names what will -- and what will not --
be paid in the case of various events. Typically, claims due to earthquakes,
floods and other natural disasters are excluded (but often available for an
additional premium). In addition, you should have your policy updated
occasionally to reflect the current value of your property. Following are a few
tips.
- Don't
Wait -- Find out if you have the right type and amount of insurance
before something bad happens.
- Increase
Your Deductible -- Increasing it a little can make a big difference
in your premium.
- Discounts
-- There are dozens available; ask your insurance agent about which ones
might apply to you.
- Purchase
Enough Coverage to Replace What Is Insured --
"Replacement" coverage gives you the money to rebuild your home
and replace its contents. An "Actual Cash Value" policy only
covers what your property is worth at the time of loss (takes into account
depreciation).
- Special
Coverage -- If you have valuable jewelry, coins, antiques,
electronic equipment, etc., you may want to pay a little extra to have it
covered.
- National
Flood Insurance Program -- Homeowners who live in areas prone to
flooding should check into this program.
- Shop
Around -- Get at least three quotes as prices vary.
- Choose Your
Battles -- Once you have home insurance, be careful about making
too many claims. Frequent claim activity can be grounds for non-renewal, so
make sure your claims are reasonable.
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For
Sale By Owner
Your
home will also be placed on my website:
www.BCNJRE.com
Rated
#1 Real Estate Website In NJ
By Point2 Homes
My
Website Stats 2007:
Total Sessions 32,832
Total Page views 136,218
Total Hits 602,725
Average Hits Per Day 1651.30
Your home WILL be noticed on my site.
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Over 80% of Buyers go to the
Internet first
This is my
Internet

List with me or stay as a For Sale By
Owner and...
Your home
could be listed on these sites.
...Plus over 100
other sites
Emil@edrc.com
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I accept listing from all
over the world.
Advertise your property here in one of the largest metropolitan
areas in the USA
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Opportunity is missed by most people because it is dressed in overalls and
looks like work.
-- Thomas A. Edison
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Common Types of Landscape Lighting
Landscape
lighting is an easy way to add curb appeal and makes outdoor living space
useable once the sun goes down. Most home improvement stores offer lighting
kits for the do-it-yourselfer. But, before you run out and buy some lighting,
take a moment to determine its purpose. Following are the most common types of
lighting.
- Bollards --
This type of lighting is generally used for lighting walkways and sidewalks.
- Floodlights
-- These are designed to throw all the light in one direction and work well
for security and safety purposes; they are available with or without motion
sensors. These are often used over the garage and around doorways.
- Tier Lights --
This type of lighting makes your home more inviting and is often used for
paths and stairs. Also referred to as path lights, these fixtures have tiers
of rings that cast light downwards, shielding your eyes from light bulb
glare.
- Well Lights
-- Also known as up-lights, this type of lighting is used to highlight
design and landscape features, such as trees, waterscapes, gardens and
walls.
- Spotlights
-- This fixture focuses the light tightly in one area and is used for
highlighting special features.
- Globe Lights
-- These fixtures have the light bulb enclosed in a globe with no metal or
plastic shade. It is designed to throw light in all directions for a
diffused illumination. It is often used in swimming pools, spas, fountains
and other water features.
- Mushroom Lights
-- This type of lighting has a wide shade to conceal the bulb and
is ideal for lighting flower gardens and other decorative ground cover.
- String Lights
-- Strings of white or colored lights are used to create a festive
atmosphere and are commonly used in trees and around the perimeter of
outdoor living spaces.
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Featured
Towns
A positive
attitude may not solve all your problems, but it will annoy enough
people to make it worth the effort.
-- Herm Albright
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Bergen
County - Allendale
Essex
County - Belleville
Hudson
County - Bayonne
Passaic
- Bloomingdale
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Featured
Homes
If
you have a home that you are selling and would like to advertise it
here and on my website, please contact me.
Emil@edrc.com
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Lakewood,
PA
For Sale By Owner
4-Bedroons

This
home and its views will take your breath away!
View
Details
New York
State
Adirondack
- Brantingham
For Sale By
Owner

Two houses and two outbuildings on
7.42 wooded acres.
View
Details
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A sense of humor is
part of the art of leadership, of getting along with people, of getting things
done.
-- Dwight D. Eisenhower
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Sometimes you want to
apply a digital effect to a photo -- but don't want to spend an hour or two
doing it. Well, do you have 15 seconds?
Dumpr is a web-based
photo editor that adds quick effects to photos, such as Rubik's Cube, museum,
celebrity paparazzi, jigsaw puzzle, sketch artist, and several more.
Simply upload a digital
photo to Dumpr, or grab one from Flickr or Picasa, select your effect, and
within seconds you'll have a great effect. You can then save it, email it, or
post it to Facebook, Blogger, Wordpress and others with a click of a button.
Check it out at:
www.dumpr.net.
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This
eNewsletter contains information, facts and opinions from various individuals
and organizations. This eNewsletter is provided on an "as-is" basis without
warranties of any kind, either express or implied. I/We are not responsible for
any errors or omissions. Consult with your doctor, fitness consultant, attorney,
accountant, or other professional advisor when necessary. © 2008
eNewsletterSolutions.
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