Thank you for stopping by to check out Luxury Living in Tampa Bay where we provide up-to-date information for Healthy, Wealthy, and Fun Living on the Gulf Coast of Florida.
Real Estate Update
On the real estate front, the Pinellas Realtor Organization reports the average Days On Market increased from about 35-days during December 2005, to about 80-days during December 2006 (how long it took, on average, for homes to sell), and the number of homes for sale increased from about 8,000 homes in December 2005 to about 15,500 homes for sale in December 2006.
Home Mortgage Rates
As for interest rates, Bankrate.com says fixed mortgage rates are now lower than last summer when the Federal Reserve last raised interest rates. Last summer, the average 30-year fixed mortgage rate was about 6.9%, and the average 30-year fixed rate is now about 6.3%. Last month, I reported that the Mortgage Bankers Association of America predicts the 30-year fixed rate will increase slightly in 2007. The Federal Reserve will be issuing economic data near the end of February, and we will see if the report impacts interest rates in the first quarter.
On a Personal Note
Cyndee and I have completed the first of three professional designations at the Graduate Realtor Institute. While it is difficult to fit graduate work into a schedule crammed with kids, civic events, and running a business, we are pursuing these designations for our customers because buying property is the single biggest investment people make, and the real estate transactions are becoming more not less complex.
Did You Know…
Almonds are a member of the peach family; Maine is the only state whose name is just one syllable; “Dreamt” is the only English word that ends in the letters “mt.”; Al Capone’s business card said he was a used furniture dealer; Tigers have stripped skin, not just stripped fur; The average person falls asleep in seven minutes; It is impossible to sneeze with your eyes open.
Taking Frequent Vacations Could Save Your Life!
That vacation may not only restore your sanity, it may also save your life! Researchers Brooks B. Gump and Karen A. Matthews found that middle-aged men who took more vacations had a markedly lower risk of death from heart disease. And the more vacations they took, the lower their risk. These findings persisted even when the authors accounted for factors such as socioeconomic status and other health-related activities such as smoking.
They warned against rushing to the conclusion that vacations lower the risk directly; however, there may be a third factor that links the two. And the definition of a vacation may be different for different people. Nevertheless, a vacation should be a true escape from everyday worries. You must be able to let your guard down and enjoy. Hhhhmmm, I think we need to slip away for a few days....
Word For The Month
Studies have shown that your income and wealth are directly related to the size and depth of your vocabulary. Here’s this month’s word, so you can impress your friends and colleagues, and maybe even fatten your wallet!
Buncombe \’bun-some\ (noun)
Meaning: Insincere or foolish talk; nonsense.
Sample Sentence: The explanation the politician gave for his vote to increase taxes was pure buncombe.
Is Your Bedroom Causing You Sniffles and Sneezes?
If you suffer from dust allergies, there’s a good chance they’re coming from your bedroom while you sleep. The National Institute Of Allergy and Infectious Diseases offers these tips for creating a dust-free bedroom, improving air quality and breathing easier, especially for people with allergies or asthma:
If possible, remove all rugs and carpeting from the bedroom. If this is not possible, make sure you vacuum at least twice a week; Encase your box spring and mattress in zippered plastic; Wash your bedding once a week in at least 130 degree water to kill dust mites; Avoid upholstered furniture, Venetian blinds, fuzzy wool blankets, and feather or wool-stuffed comforters because they are large dust collectors; Clean the floors, furniture, tops of doors, ceiling fans, and window frames and sills with a damp cloth at least once a week.
Quote Of The Month
Nobody grows old merely by living a number of years. We grow old by deserting our ideals. Years may wrinkle the skin, but to give up enthusiasm wrinkles the soul.---Samuel Ullman.
Protect Your Family With These Household Tips
It’s been called the battle cry of the recalcitrant victim: “It will never happen to me!” Yet each year, nearly one million families become victims of one or more potentially devastating accidents.
I’m not talking about auto accidents or even sports injuries. These accidents occur without you leaving the home. And they’re accidents that could have been avoided.
They include electrical and kitchen fires, gas leaks, smoke and carbon monoxide injuries, scalding from hot water, and falling down stairs. At best they cause injury. At worst, they can be deadly. So, check them out:
Have you replaced your smoke detector(s) in the last 10 years? As of 1997, 94 percent of all homes have smoke detectors. In fact, a working smoke detector can reduce your risk of dying in a house fire by nearly 50 percent. But did you know that, according to the National Fire Protection Agency (NFPA), smoke detectors should be replaced every 10 years? And batteries should be changed every six months.
Does your family have an escape plan if a fire should occur? Sure, it’s easy to say, “it’ll never happen to us,” but only 16 percent of households have developed and practiced a simple fire escape plan. Here’s a tip: to maximize your family’s safety, you should have at least two ways out of every room and discuss and practice these routes at least twice a year. Also, plan an emergency meeting place a safe distance from your home in the event of a fire. Personally, I think we should meet at Bennegan’s….
Do you have a class ABC fire extinguisher mounted near an exit on every level of your home? Home fires are the leading cause of death in the U.S. for people over the age of one. That’s why, in addition to smoke and fire detectors, fire extinguishers should be located on every level on your home. And don’t forget to keep a well-sized extinguisher near your kitchen.
Do you have ground fault circuit interrupters (GFCIs) for receptacles near all water supplies and damp areas? Yes, this includes all outlets in bathrooms, laundry area, and kitchen or anywhere dampness meets electricity. GFCIs are designed to act like circuit breakers to eliminate shock hazards. They protect a circuit by monitoring the current and shutting it down if an imbalance is detected.
Does your pool meet state law for safety? Chapter 515 of the Florida Statutes requires new pools to have a barrier (pool fence), approved pool cover, exit alarm, or self-latching gates for pool access. The law says one or more of these devices are required in addition to proper supervision of people in and around the pool.
Do all of your exterior doors have deadbolt locks on them? Most burglars take the easy way into your home: either a door or window. That’s why deadbolts offer the greatest protection. It’s best to use double-cylinder bolts when there is glass in or near a door. This will virtually eliminate a burglar’s chance of opening the bolt by hand.
Real Estate Corner…
Q - Our daughter and her husband want to buy a home, but recently asked us to “Co-Sign” on the loan. What are the consequences of this action?
A - There’s nothing wrong with helping a family member or close friend with buying a home. However, co-signing on a loan should be done with great care and knowledge of the consequences. Co-signing means that you are extending your personal credit for the benefit of someone else. Problem is, if the borrower defaults, the lender will look to you for full repayment. So you’re not really a co-signer, you’re a co-debtor. Here are a few tips that may prove helpful when co-signing:
Although you’re co-signing, make sure your co-borrower is putting cash into the transaction. The more they put in, the lower your risk. Get a copy of the credit report on the person you’re co-signing for, even if it’s another family member. If they’ve defaulted on other debts, there’s a good chance they’ll default on the debt you’re co-signing. Ask the lender to agree in writing that you will be released from the loan when the principal balance is reduced to a certain amount and not the full amount. Examine how your credit rating and ability to borrow will be impacted. Co-signing on a loan can sometimes impact your ability to get financing if you need it. Make sure you’re name is listed on the deed as a co-owner. If you’re on the deed, and if you make any cash contributions, you may be able to deduct mortgage insurance, property taxes, and a pro-rata portion of interest you pay; Ask your accountant or tax planner. Ask that the contract state that you will you share in any appreciation or gain in value when the home is sold.
Jack and Cyndee Haydon
Belloise Realty, 59 Baymont Street, Clearwater, Fl 33767
