Recovery in Housing Market Brings Gratitude and Optimism

Season of Thanks
	Recovery in Housing Market Brings Gratitude and Optimism
	November brings warm thoughts and gratitude to the forefront, and thanks certainly appear to be in order when it comes to the positive developments in housing this year. While some market stabilization was anticipated for 2012, we've seen a healthy recovery in many areas of Chicago and the North Shore. Although we're far from the peak of 2006, the median average home price in Illinois is up 2.2% over last year, and is predicted to reach or exceed a 3% growth rate nationally in 2013. @properties Market Minute: The top 5 real estate stories of 2012. Watch video. One factor contributing to price stabilization - and even appreciation - is the fact that housing inventory remains tight. According to BrokerMetrics, as of the end of October, there was a slim 3.9-month supply of inventory (MSI) in the city of Chicago, and around a 5-month supply on the North Shore. Last year at this time, MSI was well into the double digits. With prices seeing positive movement and fewer homes for sale, the timing is right to sell. So, in addition to preparing your home for the holidays, November may also be time to get your home ready to list in the New Year. Also, mortgage rates are as low as we may ever see them, still hovering around 3.5% on a 30-year fixed, giving buyers exponentially more purchasing power. Lower payments will result in many first-time buyers finding homeownership more affordable than renting, while move-up buyers have a great opportunity to 'make money on the buy.' While a healthy dose of optimism is in order for 2013, so is being realistic and informed. So it's more important than ever to choose a knowledgeable agent. At this season of thanks, I send my utmost appreciation for the trust of your business and referrals, and wish you and yours a wonderful Thanksgiving and start to the holidays. In the news: Dimon: 'Every Single Thing About Housing Is Flashing Green' November 12 | Nick Timiraos J.P. Morgan Chief Executive James Dimon likes what he sees right now in the U.S. housing market. Mr. Dimon has a pretty good forecasting track record this year, at least as far as housing goes. More U.S. home prices rise most in 6 years November 6 | Reuters U.S. home prices slipped 0.3 percent in September after gaining for six months in a row as values were weighed down by cheaper distressed sales, data from CoreLogic showed on Tuesday. Though prices were up strongly compared with a year ago, rising 5 percent for the biggest increase since 2006. More Record Downtown Apartment Rents Reflect Shortage November 12 | Alby Gallun Rents at top-tier downtown apartment buildings inched up to a new high in the third quarter, but the increases are likely to moderate next year, when a development boom eases a shortage that has given landlords the upper hand. More

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How to Set Ceiling Fan Direction for Winter

How to Set Ceiling Fan Direction for Winter

How to Set Ceiling Fan Direction for Winter
By an eHow Contributor

Most people think of ceiling fans as a way cool rooms during the hot summer season. However, ceiling fans can be just as useful during winter months. By changing the direction of your ceiling fan's rotation, you can direct the blades to force cooler air upward, towards the ceiling. This will displace the warm air that naturally rises, forcing it down into your living space. While the heating properties of a ceiling fan aren't likely to offset the need for a conventional heating system, it can reduce your dependence on heaters and lower your energy bill.

Instructions:

Things You'll Need

Step stool, chair or ladder

1. Turn off your ceiling fan. You can accomplish this by pulling the string located on the fan or by using a remote control device. You should also flip the fan's wall switch to the "off" position.

2. Wait for the ceiling fan's blades to stop turning. For safety's sake, you don't want to try reaching your hand towards the ceiling fan while it's still in operation.

3. Find a ladder, step stool or chair that you can use to stand on while you're changing the direction of your fan's blades. Make sure to use something that's structurally sound and safe. Whatever you use, make sure that it's tall enough for you to see the ceiling fan's body completely.

4. Search the ceiling fan's cylindrical body for a small toggle switch. On most brands of ceiling fans, this switch will be no more than 1 to 2 inches long and will be vertically oriented. Most toggle switches are made from black plastic, making them easy to locate against a ceiling fan's lightly colored body.

5. Set the ceiling fan's toggle switch in the opposite direction. It should click firmly into place.

6. Dismount your step stool. Move it aside so that you have enough space to stand directly beneath your fan.

7. Turn on your ceiling fan again. Pull the string and flip the wall switch.

8. Pay attention to the direction in which the fan blades begin to spin. During winter months, the fan blades should turn in a clockwise direction.

9. Double-check your results by testing for a breeze. Once your fan is set correctly for winter, you should not be able to feel a breeze from directly beneath the fan.

Read more: How to Set Ceiling Fan Direction for Winter | eHow.com http://www.ehow.com/how_2153849_set-ceiling-fan-direction-winter.html#ixzz14RsseTH0


Read more: How to Set Ceiling Fan Direction for Winter @ eHow.com

Dave Straub
@properties
773.255.3180

NO TIME FOR WAITING

No Time For Waiting
	Inaction can be a risky strategy in today's market
	What poses a greater risk: acting on the known or waiting on the unknown? It's a fundamental question facing many would-be buyers and sellers today. Sitting on the sidelines was a no-brainer in the turmoil following the housing crash. Now, the bigger gamble could be staying there. @properties Market Minute: Rising home prices and signs of a busy fall market. Click on the video to watch our report. After all, looking down the road a year, no one knows for sure where prices and interest rates will be; how stepped up foreclosure activity will affect supply; or what the broader economy will be doing. What is known is the market today, and that market has many positives. In fact, we believe now is an opportune time for both buyers and sellers to be in the market. Here are three reasons why. Low Interest Rates - Buyers and sellers should be paying at least as much attention to interest rates as prices. Today's record low rates are making homes more affordable for buyers and keeping the buyer pool deep for sellers. A significant uptick in rates could have a far more serious effect on the market than a drop in prices. Rising Prices - Home prices in Chicago are finally rising. That's great news. However, there are a number of variables that could pull prices back down in the short term. Would-be sellers waiting on significant price improvement over the next couple of years should think about this: many economists are predicting gradual price appreciation; some are predicting further depreciation; none are predicting a sudden and pronounced increase. Anyone holding out for that scenario is in for a long wait. Low Supply - Supply is at its lowest level in years...so low in fact, that in some places, technically, it's a seller's market. But supply isn't likely to remain this low forever. Foreclosure activity is up significantly since banks lifted their moratorium, and many new foreclosures will soon hit the market. If these listings can be absorbed, and prices continue to rise, more sellers will jump in, keeping a floor under supply. If you're a seller, you want to get your home on the market ahead of this wave. Compared with the last several years, market conditions today are pretty darn good. Hopefully, they'll continue to improve. But as we like to say at @properties, "Hope is not a strategy." What is a strategy is looking at known variables, such as interest rates, pricing and supply, and coming up with a plan to accomplish your objectives. If you've been on the sidelines, it's time to get back in the action. Call or e-mail me to talk about your real estate needs. And remember, I always appreciate your referrals. Speaking of action, want to get the low-down on the best of Chicago's social scene? The hottest nightclubs, restaurant openings, parties, art exhibits and charity events land right in your in-box when you subscribe to CS magazine's weekly e-newsletter. Click here to sign up now. In the news: Why Buffett Is Betting Big on Housing What does Warren Buffett see that no one else does? He just made an outsize bid on ResCap loans, the latest example of his bet that the housing market represents a great investment opportunity. More Mortgage Rates Rise Ending Record Streak Rates on 30-year fixed mortgages climbed slightly higher this week, breaking a run that saw rates match or set new record lows for 13 out of the past 14 weeks. More Chicago Makes Biggest Gain In Key Home Price Index Home prices in the Chicago area jumped an average of 4.5 percent in May, turning in the best one-month performance of the 20 metropolitan areas included in a widely watched housing index. More