Mischer News

Back to school shopping can be a stressful time for parents and kids alike. And, trying to keep up with the latest trends and ever changing school supply requirements can be a little overwhelming. Just follow these simple, essential tips when you head out the door this August, and you will find yourself well equipped for the task at hand. With a little bit of planning and a sharp eye for bargains, anyone can save big bucks!

• Be patient and wait for the sales and discounts. Some of the biggest markdowns on clothing, shoes, and electronics, happen in mid to late August. Your patience will pay off with average savings of 40 to 50 percent in retail stores and 20 to 25 percent online.
• Plan to take advantage of the Texas Tax-Free weekend on August 20 – 22, 2010. During this one weekend in August, back-to-school items, like clothing, backpacks and footwear, are tax-free. (http://www.window.state.tx.us/taxinfo/taxpubs/tx98_490/tx98_490.html ) 
• Make sure to buy a backpack that comes with a warranty. Kids can be very hard on their book bags, so your child’s backpack should be come from a reputable company, such as L.L. Bean or the North Face, which guarantees its products will hold up. If a zipper breaks or the handle/straps come apart the company should have a no charge replacement policy. 
• For high school and college students in need of software, make sure and request the “student discount” or “student rate” on software. Most Microsoft products can be purchased at a significant (as much as 80% off) discount simply by showing a valid student ID at retail stores or by send a copy via e-mail or fax to online stores. 

Most importantly, avoid buying anything you don’t really need. Start with the essentials and as needs arise, you can pick them up. And, although sales begin in late August, by late September, you may find items deeply discounted by as much as 75% off. In short, plan ahead and make a list. Then watch the local ads and don’t let your kids pressure you into overspending! 

We all know that even if there’s no printed expiration date, no product will last forever. Your fire extinguisher is no exception.

Most extinguisher manufacturers say they should work between 5 to 15 years (a frighteningly wide range), and most consumers have no idea if they purchased theirs two years ago or 12. So, follow this expert advice to rest assured your extinguisher will fire away in the event of an emergency. 

Local fire chief Dennis L. Rubin says consumers should regularly check their extinguishers pressure gauge – as often as once a month. “If the needle is in the green area, it’s functional,” he says. “If it falls anywhere else, the extinguisher is unreliable and should be serviced or replaced. For an older model without a gauge, have it checked by a pro.” Look in your local Yellow Pages under “fire extinguishers” or call your local fire department to find companies that refill and service extinguishers in your area. 

And remember, if you the nozzle is cracked, the locking pin on the handle is missing, or the handle is wobbly or broken it should be replaced immediately. A fire can happen in an instant, so always be prepared!

Late last Wednesday, Congress approved an extension for the home buyer tax credit. The extension will give approximately 180,000 potential new home buyers, who signed a purchase agreement prior to the original April 30 deadline, a little more time to close and fund on the property and still receive the $8000 credit. 

The Senate approved the measure to extend the deadline until September 30, unanimously on Wednesday, one day after the bill easily passed through the House of Representatives. The President is expected to sign off on the measure soon.

The Senate repeatedly failed to pass the extension over the last few weeks because it was included in a multi-faceted package that was attempting to extended jobless benefits, among other measures. On Wednesday, when their efforts to reinstate unemployment insurance failed, and the Senate made a last minute call to pass the tax credit provision on a standalone bill.

All good news for lenders and real-estate companies, who were previously warned of potential closing delays, especially for those in short sale and new construction situations that are often at the mercy of others to close in a timely manner!

In a recent study from the Real Estate Center at Texas A&M University new explanations are being offered as to why the Texas housing markets are proving to be much better than other states amidst the current real estate free-fall. And, it further suggests the reasoning behind their belief that the Texas economy will continue to fare better than the rest of the country in the upcoming months.

“Texas’ lower-than-national-average housing cost is one reason for the state’s higher-than-national-average growth rate,” says Ali Anari, Ph.D., one of the study’s authors and a Center research economist.  “When Texans are able to spend more on non-housing goods and services, the state’s economy is strengthened and more people attracted.”

Since 1987, the average, per consumer, annual income consumers delegate to their shelter has increased in every major American metropolitan market. But, according to Anari’s research, “Houston and Dallas consumers spent the smallest shares of their incomes on shelter in 2008 (18.6%).”

“These results illustrate one of the key reasons the Texas economy outperforms the United States in terms of job growth almost every year,” says Center Chief Economist Mark Dotzour, Ph.D. “The fact that Texans pay less of their income for housing means they have more to spend on other things that add to the overall quality of life.” Dotzour further explains, “This allows Texas employers to be able to attract workers at a reasonable wage rate that allows them to compete successfully in the global economy.”

Texas data for the study was compiled from the Dallas-Fort Worth and Houston-Galveston-Brazoria metro areas due to the fact that they are among the major metropolitan areas for which consumer expenditure data is available. These two metros accounted for 60.3% of Texas’ labor force last year and 64% of Texas’ gross domestic product (GDP) the previous year.

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According to the latest monthly data compiled by the Houston Association of Realtors (HAR), sales of all property types in Houston for May totaled 6,659, up 20.3 percent compared to May 2009. Total dollar volume for properties sold during the month was $1.3 billion versus $1.1 billion one year earlier, representing an 18.9 percent increase.

In May, sales of single-family homes in Houston totaled 5,693, up 19.1 percent from May 2009, marking the third consecutive month of increased sales activity. Separated out by individual segments:

• May sales of homes priced from $80,000 and below increased 7.3 percent.
• Those between $80,000 and $150,000 rose by the largest amount of all pricing segments—28.0 percent.
• Those in the $150,000 to $250,000 range climbed 19.2 percent.
• Those priced between $250,000 and $500,000 ae up 13.6 percent.
• Sales of luxury homes—those priced from $500,000 to the millions—edged up 5.1 percent, a dramatic drop compared to a 53.4 percent increase one month earlier.

Local Realtors Credit Ongoing Effects of Federal Homebuyer Tax Credit to the three month increase. HAR goes on to state that “the average price of single-family homes in May was $209,920, down 0.9 percent compared to one year earlier. That followed seven straight months of appreciated average pricing.” The national single-family median price reported by NAR is $173,100, illustrating the continued higher value and lower cost of living that consumers enjoy in the Houston market. 

These statistics all point to good news for Houston area builders and developers. Only time will tell if the trend will hold, but for now Houstonians can breath a little easier!

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PLANTATION HOMES, PIONEER HOMES, COVENTRY HOMES, AND CARMEL BUILDERS PARTNER WITH HOUSTON AFFILIATE OF

SUSAN G. KOMEN FOR THE CURE(r)

Houston, TX (May 6, 2010).... Plantation Homes, Pioneer Homes, Coventry Homes and Carmel Builders, are honored to announce their partnership with the Houston Affiliate of Susan G. Komen for the Cure(r), supporting its efforts with large scale promotions and a very generous fund raising commitment.

The builder's newly launched 'Built for the Cure' marketing campaign which includes promotions corporately and in all four brands in Houston, is intended to heighten awareness of the efforts of the organization known for bringing worldwide attention to breast cancer; and to let buyers of Plantation Homes, Pioneer Homes, Coventry Homes and Carmel Builders in Houston know that a portion of the proceeds from the sale of their new home will be donated to the Houston Affiliate of Susan G. Komen for the Cure(r).

This is the first partnership of its kind between a large Houston new home builder and the Houston Affiliate of Susan G. Komen for the Cure(r).

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As a homeowner, you are well aware of the importance of homeowners insurance to protect your home and its contents. But did you know that your homeowner insurance DOES NOT cover damage to your home or contents resulting from a flood (aka rising water)? Everyone’s home is at risk of flash flooding, but depending on your property location, your home is either considered at high-risk or at moderate-to-low risk for a flood. And, your insurance premiums will fluctuate accordingly.

Although you cannot prevent a flood, you can be prepared for the event and insure that you are able to get your family, home and hard-earned belongings back in order as quickly as possible. Follow these simple steps below and be prepared!

Safeguard your family’s financial stability. Create a personal “flood file” containing information about all family members and your personal possessions. Then come up with a safe place to store the file, such as a fireproof or safety deposit box, and make sure both you and your spouse or children know where the file is kept. This special file should contain copies of the following: 

•A copy of all family members personal, life and health insurance policies and contact information for your agent and toll free numbers for the companies in the event the agent is effected by the storm too!

•Photos or video of each room in your home to verify ownership of your possessions. Try to include receipts for the high value items when possible.

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According to the Associated Press and Freddie Mac, mortgage rates on a 30-year fixed loan have fallen dangerously close this week to the all-time low.

Mortgage finance company Freddie Mac states that “the average rate sank to 4.72%, down from 4.79% last week. It was just above the record of 4.71 set last December.” They go on to state that “the average rate on a 15-year fixed-rate mortgage hit 4.17%, down from 4.2% last week and the lowest on records dating back to August 1991.”

Falling rates are thought to be the result of last years Federal Reserve campaign designed to “reduce borrowing costs for consumers [and to] push rates down to extraordinarily low levels.” Although rates were speculated to rise after the campaign, which ended this spring, rates have unexpectedly fallen over the past two months instead.

Guarded investors, still shell shocked from the European debt crisis and turbulent stock market, have shifted their money into the more stable U.S. Treasury bonds, which in turn have pushed down interest rates, or the yield, on U.S. Treasury debt. Fixed mortgage rates have a tendency to follow that yield. Other factors that affect the bond yield include, but are not limited to, the national employment report.

Only time will tell if these historically low interest rates are enough to revive the housing market, but it is definitely good news for customers intending to purchase a new home this summer! 

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Some good news, and a possible clearing of the dark clouds looming over the new home construction industry, was revealed in a statistical report issued today. According to Realtor Magazine, construction spending rose 2.7 percent in April among residential, government buildings, and industrial segments. 

Ian Shepherdson, chief U.S. economist at High Frequency Economics, expressed his opinion on the rise, stating that “the government tax credits drove residential increases and nonresidential activity is unreliable. We expect a downward revision next month.”

Despite the down-played pessimism of Shepherdson, Houston’s new home builders are forecasting a positive shift. Luxury home builder and Former CEO of Toll Brothers Robert Toll said, “It appears our business has finally emerged from the tunnel and into a bit of daylight.”

Only time will tell, but all eyes will me on construction statistics over the next few months as builders anticipate the summer housing rush to be the “new beginning” they have been waiting for since the housing crisis began. 

If you are looking for extra storage in you busy, multi-functional family bathroom, consider moving in a few furniture pieces from other rooms in your home.

Move a bookshelf into your bathroom as an unexpected source of extra storage space and mix items such as washcloths, books and a lamp with more practical, daily use items like cotton balls and after-bath lotions.

Paint the cabinet and drawer fronts with chalkboard paint and then label them with your kids' names so there will never be a question as to whose things belong where. This can be especially useful when girls are sharing a bathroom, but boys will find it a fun accent too. No kids, no problem… just label the drawers with fun words or the items inside to entertain your guests.

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