BEAUTIFUL IN BROOKCLIFFE!

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Move right in and enjoy this well maintained home with easy to maintain vinyl siding. Tile flooring in large eat-in kitchen and baths. Huge deck for entertaining with view of stream and the exceptionally landscaped .8 acres with wooded privacy. 2 Masonry fireplaces, with gas logs in living room. Full unfinished daylight basement with fireplace is ready for future expansion. Recent 2 Zone Heat Pumps. Walking distance to neighborhood pool. Also includes tax lot 010A.

If you want to take a tour, just let me know at 336-682-7653 or sold@pamboyle. We can schedule an appointment at your convenience.

SUPERIOR IN SHERWOOD HILLS!

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Elegance privacy abound is this updated home with courtyard garden entry with iron rail fence. Awesome eat-in kitchen with wood floors, pantry, "deep" sinks, stainless appliances & granite countertops. Two "master" suites & one has french door to balcony. Direct garage access to the kitchen for ease of unloading groceries. Charming courtyard with privacy fencing in back making an afternoon cookout enjoyable. Neighborhood pool & tennis membership is optional.

If you want to take a tour, just let me know at 336-682-7653 or sold@pamboyle. We can schedule an appointment at your convenience.

DELIGHTFUL IN DAVIDSON COUNTY!

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Approach this lovely home located on a wooded .79 acre site by the curvilinear drive. You can enjoy entertaining on the shady tiered deck. The wood burning fireplace in the family room (with vaulted ceiling, Palladium window beams) will keep you warm on a chilly day. Spacious rooms throughout. And low county taxes. Do you need a location central to Winston-Salem, Greensboro, High Point & Kernersville. This home is just a few minutes away from the access to Highway 52.

If you want to take a tour, just let me know at 336-682-7653 or sold@pamboyle. We can schedule an appointment at your convenience.

Are your holiday gifts covered?

If your house is anything like ours, it is filled with boxes, wrappings, bows and other remnants of a wonderful season of giving. But as you put away the decorations and tidy up the tree, it’s time to take stock of this year’s stash of holiday gifts.

If Grandma sent you a Snuggie or Cousin Lou re-gifted a DVD of Olympic highlights, then you’re probably okay to do what you wish with these delightful treasures. But if you are the recipient of something of greater value – an engagement ring, an original Andy Warhol, a signed Beatles album or a deer-hunting rifle, it’s time to call your insurance agent.

Most personal possessions are covered under your homeowners’ policy, but there are limitations on insurance coverage in certain categories. Anything of significant value in the categories of jewelry, artwork, collectibles or firearms may need extra coverage so they may be replaced if something happens to them. You can check your coverage limits on the declarations page of your insurance policy, or your agent will be happy to review your coverage with you.

If this year’s holiday take isn’t worthy of extra insurance coverage, there’s always next year to make your wishes known early … and plenty of time to be extra good. Or you could always gift yourself that special treasure. Just remember to call your insurance agent before something of value gets taken out with the tinsel and trash.

Happy Holidays!

 By Robin Price (Vice President of Sales, Insurance)

What's Ahead For Mortgage Rates This Week : December 31, 2012

Mortgage bonds improved last week, pushing mortgage rates lower nationwide.

Positive economic news and strong housing data was trumped by ongoing Fiscal Cliff discussions on Capitol Hill.

The "Fiscal Cliff" is meant to represent January 1, 2013 -- the date on which mandatory spending cuts are enacted by Congress and on which tax rates increases for many U.S. taxpayers.

Some analysts believe that if these two events are to occur simultaneously, it would derail the current U.S. economic expansion and revert the economy back into recession. That concern has spurred a flight-to-quality which has benefited mortgage bonds and, therefore, U.S. mortgage rates.

For example, last week, Freddie Mac reported the average 30-year fixed rate mortgage rate at 3.35 percent nationwide for borrowers willing to pay an accompanying 0.7 discount points plus a full set of closing costs. This is a 0.02 percentage point reduction from the week prior.

The average 15-year fixed rate mortgage rate was unchanged last week at 2.66 percent for borrowers paying an accompanying 0.7 discount points plus closing costs.

In this holiday-shortened week, mortgage rates may fade again.

Congress convened over the weekend in order to discuss the impending Fiscal Cliff, and ways to avoid it. Talks have been ongoing since this year's election yet it appears unlikely that the simultaneous expiration will be avoided.

How this would affect the economy is unknown but mortgage markets would witness an immediate boost of demand, leading mortgage rates lower. Conventional, FHA and VA mortgage rates would all likely benefit.

And then, Wall Street will turn its attention to Friday's December Non-Farm Payroll report.

Mortgage rates are expected to make big moves upon the report's release. This is because, earlier this month, the Federal Reserve said it would begin raising the Fed Funds Rate only after the Unemployment Rate reaches 6.5 percent. Currently, the Unemployment Rate is 7.7 percent. If December's jobless rate slips, moving closer to the Fed's stated target, mortgage rates are expected to rise.

Similarly, if the Unemployment Rate rises, mortgage rates are expected to drop.

Fixing Up An Historic Home : The Three Rs

If you enjoy both history and fixing things, then you may have trouble driving by historic homes for sale without feeling the urge to buy and fix one up.

Before you do, however, you should know the three R's of fixing historic homes -- Restoration, Renovation, and Repair.

Restoration
"Restoration" is the process of returning a home to its original state. Restoring historic homes often requires city and state permission. It's essential that you check to see whether your home is listed in the National Register of Historic Places (NRHP); or, whether it's located in a historic district. If either is true, there may be a specific set of rules to follow while renovating.

Restoration can be an expensive endeavor. For a home to keep its historic value, the materials used must match the home's original materials, including furnishings. This can be costly because of antique value.

Renovation
Renovating is less complicated and less restrictive as compared to restoring. However, via a renovation, a home often becomes a more "modern" living space, which can lower the home's historic value. Be sure that your home is not listed in the NRHP or located in an historic district before beginning renovations.

Depending on size of the project(s), renovations can be expensive, too. However, it's easier to find great deals on modern appliances as compared to the antique appliances required for a restoration.

Repair
Repairs are often less intensive than a restoration or renovation. For repair, be sure to use materials which fit the home's character, which may include plaster walls and wooden floors, for example. Matching original materials is not important in the home repair process..

The cost of a repair project will depend on the size and volume of required repairs.

The differences between a restoration, renovation and repair of an historic home may be minor, but those small differences will change your costs, your timeline and your procedural red tape. Speak with an qualified architect if you're unsure of your obligations as the owner of a historic home.

CHARMING ON CEBON AVENUE!

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This Shaker style cottage maintains the charm of yesteryear with today's conveniences. Beautifully remodeled kitchen baths, new dishwasher, central air, replacement tilt windows and more. Wood or tile flooring throughout. The side deck is perfect for a cookout after volleyball on the over sized, level lot. Enjoy a shady morning or afternoon on the spacious screened porch. Includes tax lots 73 - 77.

If you want to take a tour, just let me know at 336-682-7653 or sold@pamboyle. We can schedule an appointment at your convenience.

How To Install A Water Heater Jacket

A simple way to save money is to improve your home's energy efficiency rating.  For example, homeowners can save up to 9 percent per year on water heating costs simply by installing a water heater jacket.

Water heater jackets are easy to install. Here's how you do it :

First, before you go shopping, check whether your water heater is a gas model, or an electric one. Then, write down your water heater model number. Most water heater jackets list compatible water heater models on their respective packaging. Look for jackets with a value of "R-8".

Then, as you start your project, be sure to turn the water heater off.

Water heater jackets are pre-cut to make installation simple. Remove the outer packaging and separate the jacket's pre-cut pieces. There will likely be a top, a body and belts. You'll want to have plenty of duct tape on hand, too.

Next, shape the top of the water heater jacket to fit your appliance.  Trim around the pipes which enter the water heater, then tape the areas closed. This will form a strong seal.

Tape the top edges down to the side(s) of the water heater.

Then, take the body of the water heater jacket and wrap it around your water heater's mid-section. Have the belts ready and secure them, taking care that the belts don't push the insulation down more than one-quarter of its thickness.

Lastly, outline the access plate with a pencil on the insulation exterior, and use scissors or a knife to cut the insulation out. Tape the edges to avoid fraying and set the water heater to a temperate no higher than 130 degrees.

Note that outfitting a gas water heaters with jackets can be more complicated than with electric water heaters because of construction. If your water heater is a gas model, consider hiring a professional to handle your installation.

Merry Christmas from Pam and Allen ...

Holiday Houseguests: 3 Tips for Keeping It All Together

The holidays seem to bring a little bit of everything …. shopping, baking, wrapping, eating and more.  And for some of us, they also bring guests. Sharing the holidays with family and friends can be a joyful time, but it can also create extra work and stress – even if it’s just Grandma and Grandpa who’ve come to visit.

Here are three simple tips to make the holidays easier and happier for everyone:

ENLIST THE TROOPS.  Start by discussing the houseguests with your spouse and family long before they arrive. Make sure everyone knows who is coming and when,  and how long they are going to stay. Next, make sure you have the space for all your guests. If it involves a child giving up his bedroom or two siblings ” bunking” together for a few days, make sure everyone is on board.  Do you need an air mattress or futon? One year we slept seven children in the bonus room.  There were sleeping bags and air mattresses everywhere. Complete chaos!  But, the kids, who are now all grown up, still talk about “Christmas Camp.”

STOCK UP ON FOOD AND OTHER STUFF.  Don’t create extra stress by thinking you have to serve your guests three meals a day. If you have a supply of breakfast foods; cereal, bagels, muffins, juices and coffee supplies, everyone can serve themselves whenever they wake up.  The same with lunch. Just stock the pantry and fridge. Let them make their own sandwiches, or prepare a casserole ahead of time and let them heat it up for lunchtime. Easy! Then just give everyone the schedule for dinner. Stocking up on a few other items might be helpful too.  DVDs, books, games and puzzles will help keep everyone occupied if you have to be away from the house for any length of time.

HAVE A PLAN AND HAVE OPTIONS.  Make sure everyone knows what events are scheduled to happen when. Some activities might involve everyone. Some might be for adults only. And others may be totally optional. You may all be going out for a special holiday activity one evening and for other times, the plan is to stay home and bake cookies or watch movies. Set expectations early. It might also be helpful to give your guests a list of activities and local events they can do on their own, in case you need to be away at work.

But let’s face it. Whether you have houseguests for the holidays or not, this time of year can be stressful. Doing a little planning ahead with your family and preparing for the guests themselves can minimize both the hassle and the stress. This is indeed a special time of year, so enjoy the holidays and enjoy your guests!

 By Judy Kendall – Guest Blogger

3 Ways To Purchase Foreclosed Properties

The process of buying a foreclosed home is slightly different from the process of buying a non-foreclosure home.  If you want to invest in foreclosures, therefore, it is important to understand the different ways by which to purchase a foreclosed home.

There are three main ways to buy a foreclosed home.

Buying before the auction
Some delinquent homeowners may want to sell their homes before facing an actual foreclosure.In this instance, the homeowner, in agreement with the lender, agrees to sell the home for less than the amount owed on the mortgage.This is called a short sale. Short sales are "pre-foreclosures", of sorts. By broadening your home search to include short sales, you can identify homes that may be sold at a discount.

Buying at the auction
Another way by which you can invest in foreclosure homes is by buying the home at auction. From area to area, the legal requirements for the sale of a foreclosed home at auction may differ. If you plan to buy at auction, you'll want to be familiar with your area's customary judicial proceedings.

Buying after the auction
Buying after the auction means buying bank-owned properties. This can be the most lucrative and safest means of investing foreclosure properties. This is because lenders often reduce the sales prices of their home inventory in order to "sell it quickly". It can be expensive for banks to own foreclosed homes, and few banks are equipped for managing owned homes. Check with your local real estate agent to see what, if any, bank-owned homes are available for sale in your area.

The process of buying a distressed home is different from the process of buying a "traditional" one. Therefore, regardless of which path you follow to buy a foreclosed property, have an experienced real estate professional on your team.

BEAUTIFUL IN BRIDGTON PLACE!

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Enjoy this clean, well-maintained, 1-level home in a quiet, peaceful neighborhood. The large living room features cathedral ceiling, TV nook fireplace with gas logs. The lovely kitchen has lots of counter & cabinet space & opens nicely to the dining room. The back yard features privacy fencing & several natural areas. Enjoy entertaining on the extra large patio & back porch. The curb appeal is awesome with "rocking chair front porch", gas yard lamp & sidewalks.

If you want to take a tour, just let me know at 336-682-7653 or sold@pamboyle. We can schedule an appointment at your convenience.

OUTSTANDING IN OAK VALLEY!

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Casual elegance best describes this exceptional home located on the golf course in Palmers Ridge. Indoor and outdoor spaces are perfect for family gatherings and entertaining. The top of the line finishes include Travertine tile flooring, multi-piece moldings, Pella vinyl clad windows and doors, stone fireplaces, custom cabinetry, wet bar with granite top and Bose surround sound system. The gourmet kitchen features gorgeous granite countertops, island, exceptional cabinetry (some with glass fronts for displays), built-in refrigerator, Asko dishwasher and DCS commercial grade double oven and six burner/griddle cook top. The fine quality of the upper level continues to the lower level of the home with trey ceilings and steam shower. Enjoy the golf course setting from the 6-person Jacuzzi hot tub under a covered cypress trellis, the covered back porch with speakers and ceiling fans or the lower level patio. The mature landscaping is gorgeous with landscape lighting and is easily maintained by the irrigation system.

If you want to take a tour, just let me know at 336-682-7653 or sold@pamboyle. We can schedule an appointment at your convenience.

Short Sales Outnumber Foreclosure Sales For Third Straight Quarter

Foreclosure-tracker RealtyTrac reports falling foreclosure sales nationwide as banks get better at selling homes via short sale.

In its Q3 2012 report, RealtyTrac says that 193,059 homes in some stage of foreclosure were sold, accounting for 19% of all residential home sales. In addition, pre-foreclosure sales -- also known as "short sales" -- climbed 22% on a year-over-year basis.

For the first time since 2007, the number of short sales outnumbered the number of homes sold in foreclosure over three consecutive quarters.

The average price of a short sale home fell by 5 percent as compared to a year ago which may reflect an eagerness on the part of mortgage lenders to dispose of distressed properties before they fall into foreclosure. Foreclosures can increase a lender's losses, and foreclosed properties be expensive to manage.

Compare the average Q3 2012 sale price of a home in short sale versus one in foreclosure :

• Average sale price of a residential property in short sale : $191,025
• Average sale price of a residential property in foreclosure : $161,954

It's not just the higher home sale prices that have pushing banks to settle on short sales, either. Short sales are less costly, too. Foreclosing on a home requires banks to pay court costs, among other fees, and which positions the short sale outcome as a clear winner for many banks. 

For homebuyers , the banking industry's shift toward short sales is welcome news.

Buying a short sale has been a notoriously slow process with a lack of defined timeline. As banks improve their distressed sales division, they're getting faster and more efficient. This makes it "easier" for a buyer to buy a home in short sale.

However, don't buy a short sale without the help of an experienced, licensed real estate professional.

The negotiation process is different for a short sale than with a "traditional" home purchase. Time lines are different, responsibilities are different, and purchase contract language may be different, too. The same is true for buying a foreclosure.

Gas or Wood? Now that is the Question

Winter is approaching and temperatures are dropping.  During these chilly times, nothing makes me happier than coming home to the warmth and relaxation of a fireplace.  I enjoy a wood burning fireplace, but so many prefer the ease of gas log fireplaces.   If you enjoy your wood burning fireplace, here are some helpful tips as you enjoy the cozy feeling:

• Clear the area around the fireplace since debris could cause the fire to spread outside the area you want.
• Check the flue for obstructions such as bird nests.  Don’t forget to trim overhanging branches and large trees from the area near the chimney.
• Never leave the fire unattended, and always extinguish before you go to bed.
• Have your fireplace cleaned and inspected annually.
• Keep a fire extinguisher on hand and test smoke and carbon monoxide detectors regularly.
• Follow label instructions when using fire logs.

Wood burning stoves and fireplaces are one of the leading causes of home fires nationwide.   These fires are usually caused by improper care of the chimney or improperly installed heating appliances.  Carbon monoxide problems are almost always caused by poor ventilation such as a blocked chimney.  The symptoms of carbon monoxide poisoning are often mistaken for common illnesses such as headache, fatigue, nausea, depression, or worse.  Your home should have at least two smoke and carbon monoxide detectors.

Some may say that gas log fireplaces have a number of advantages over a traditional wood burning fireplace, but nothing mimics a wood burning fireplace.  While gas fireplaces may lack many of the features that create the allure of a wood burning fireplace, they are safer and easier to use.  If you prefer gas logs here are some helpful tips.

•  Always have a professional install your gas logs.
• Consult local building codes before installing gas logs.
• Never burn anything in your gas log set.
• Never let children operate your gas logs.

Whatever your preference, they both create warmth and relaxation for your family and friends.  Just remember, be safe!

 By Robin Price (Vice President of Sales, Insurance)

REMARKABLE IN BONNIE RIDGE!

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Finally - one of the "large" condominiums in Bonnie Ridge is available. Enjoy the 1-level convenience with basement den, storage area & garage. 3 spacious bedrooms on the main level. Fresh paint and carpet and new range & exhaust fan. Enjoy a relaxing afternoon or morning coffee on the large screened porch overlooking the Oldtown County Club golf course.

If you want to take a tour, just let me know at 336-682-7653 or sold@pamboyle. We can schedule an appointment at your convenience.

What's Ahead For Mortgage Rates This Week : December 17, 2012

Mortgage bonds worsened last week, moving mortgage rates higher. Economic news was mostly positive and the Federal Open Market Committee (FOMC) changed some of Wall Street expectations for future monetary policy.

Freddie Mac reported the average 30-year fixed rate mortgage rate at 3.32 percent nationwide for borrowers willing to pay an accompanying 0.7 discount points plus closing costs. The average 15-year fixed rate mortgage rate was listed at 2.66 percent nationwide with an accompanying 0.6 discount points plus closing costs.

Both mortgage rates had climbed by week's end, however. Mortgage rates made their best levels Monday afternoon. Between Tuesday and Friday, mortgage rates climbed.

Also last week, the National Association of Homebuilders/First American Improving Markets Index (IMI) reported 201 improving metropolitan economies nationwide. This index uses data including local employment statistics and home values to determine whether an area's economy is "improving".

76 new areas were added to the IMI list in December as compared to November. The geographic diversity the newly-added markets suggests an overall improvement in the national economy.

Last week's major event, however, was the 2-day Federal Reserve meeting, which adjourned Wednesday.

The post-meeting press release after included the Fed's commitment to hold the Fed Funds Rate near zero percent where it's been since December 2008. However, the Fed announced a change to in its plans to raise the Fed Funds Rate from near-zero at a future date.

Previously, the Fed had said it would raise the Fed Funds Rate beginning in mid-2015. Now, the Fed says it will start to raise rates when the national unemployment rate reaches 6.5 percent.

This week, mortgage rates have a lot to move on including Housing Starts (Wednesday) and Existing Home Sales (Thursday) from the housing sector; Jobless Claims (Thursday) from the Labor Department; and a key inflation reading from the Department of Commerce. Each has the capability to move mortgage rates.

Markets will respond to Fiscal Cliff discussions, too.

MAJESTIC IN MOCKSVILLE!

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Enjoy the Southern Charm of this Georgian home on a private setting in the heart of Davie County. This working horse farm features a 14,000 sq ft Stable Indoor Arena with an office, kitchen, lounge, bath. New wing added in '08 to make 24 stalls, tack room, wash, riding ring, round pin. Training facility, 140x60 arena, 12-15 acres of pasture, pond, stream. Fences and shelters were replaced approx 3 yrs ago. Additional shed used for hay and shearing.

If you want to take a tour, just let me know at 336-682-7653 or sold@pamboyle. We can schedule an appointment at your convenience.

LOVELY IN LEWISBURG POINTE!

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Minimize your yard work on this manageable lot and relax on your screened porch instead. A private off street setting is the site for this 3 bedroom home with tile and laminate flooring throughout. Recent stainless steel appliances and hot water heater. All of the kitchen appliances remain and the home is in move in condition. Great screened porch overlooking deck and private back yard.

If you want to take a tour, just let me know at 336-682-7653 or sold@pamboyle. We can schedule an appointment at your convenience.

Improving Market Index : Up To 201 Cities For December 2012

Last week's National Association of Home Builders/First American Improving Markets Index (IMI) brought positive news about U.S. housing markets and the broader U.S. economy, in general.

According to the IMI, there are now 201 U.S. markets which can be considered "improving".

To meet this standard, a local area economy must exhibit at least six consecutive months of improvement in terms of local employment, single-family housing permits and area home prices; and, at least six months must have passed since each of these readings were at their respective low points, called troughs.

The Improving Market Index added 76 metropolitan areas in December as compared to the month prior. 45 states are now represented on the list, in addition to the District of Columbia.

The cities deemed "improving" aren't limited to recent, high-profile hot spots such as Detroit, Michigan; and Phoenix, Arizona, either. Several of the newly-included areas for December were :

• Atlanta, Georgia
• Bloomfield, Illinois
• Ithaca, New York
• Riverside, California
• Seattle, Washington

The geographic diversity of this month's Improving Market Index suggests a nationwide economic recovery in progress. More jobs, a steady supply of available homes, plus rising home prices helps communities thrive.

Unfortunately, it may also mean less opportunity to buy homes as rock-bottom prices.

As sellers and home builders gain confidence in the economy, it may be more challenging for today's buyers to get a "great deal".  In addition, an improving, post-recession economy will likely lead mortgage rates higher, robbing home buyers of their purchasing power.

Freddie Mac says that the average 30-year fixed rate mortgage rate is 3.32% nationwide. In a fully-recovered economy, that rate could be 5 percent or higher. The impact on monthly housing payments would be palpable.

The National Association of Homebuilders expects more markets to join the Improving Market Index list through 2013. Today's home buyers may want to lock in today's low rates before economic improvement leads mortgage rates higher.

Home Organizing Checklist

• Conquer these common “bandits” that steal your space: clothes you never wear, unused kitchen appliances, magazines, mementos and extra furniture.

• Let your child help you sort through old toys, and donate them. Reward your child with a new toy for their help.


• Store extra blankets and extra leaves for your dining room table under your bed.

• Skip the grocery store for a week and use up food in your pantry and freezer. When they are nearly empty, clean shelves and cabinets and dispose of any outdated food.

• Store tools in two locations – a pegboard for frequently used hand tools and a toolbox for specialty tools used less often. Store larger tools like electric drills next to the toolbox.

• Tame the paper tiger. Sort through mail and newspapers daily. Put bills in one place, action items in a folder and everything else in trash or recycling bin. Clean out your filing cabinet by sorting through 10 folders a day until you are done.

• Store holiday decorations using color-coded plastic storage bins.

Simple Explanation Of The Federal Reserve Statement (December 12 , 2012)

The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday.

For the tenth consecutive meeting, the FOMC vote was nearly unanimous. Richmond Federal Reserve President Jeffrey Lacker was the lone dissenter in the 9-1 vote.

The Fed Funds Rate has been near zero percent since December 2008.

In its press release, the Federal Reserve noted that, since its last meeting in late-October, the U.S. economy has expanded "at a moderate pace" despite "weather-related disruptions". It also acknowledged that "strains in global financial markets" remain a threat to U.S. economic growth.

This comment is in direct reference to the Eurozone, its sovereign debt concerns, and its nation's economies.

The Fed included the following observations in its statement, too :

1. Growth in employment is expanding but unemployment is elevated
2. Inflation pressures are stable, and below the Fed's target range of 2%
3. Business spending on equipment and structures has slowed

In addressing the housing market, the Fed said that there has been "further signs" of improvement and the group re-affirmed its commitment to the $40-billion monthly QE3 bond buying program.

QE3 is meant to suppress U.S. mortgage rates from rising too high, too quickly.

Lastly, the Federal Reserve announced an explicit economic target for when it will begin to consider raising the Fed Funds Rate from its current target range near 0.000%. When the national Unemployment Rate reaches 6.5%, the Fed said, it will likely move to start raising its benchmark borrowing rate. 

Previously, the Fed had provided only a date-based target of mid-2015.

The 6.5% Unemployment Rate target may be pre-empted by rising inflation rates. The Fed does not expect price pressures to mount prior to jobless rates dropping from the current 7.7% levels, however.

Mortgage rates are rising post-FOMC announcement. Many lenders raised mortgage rates mid-day Wednesday in response to the Fed's statement. 

The FOMC's next scheduled meeting is a two-day event scheduled for January 29-30, 2013.

Mortgage Rates Rising On 26 Straight Months Of Jobs Growth

According to the Bureau of Labor Statistics (BLS) and its November 2012 Non-Farm Payrolls report, the U.S. economy added 146,000 net new jobs last month.

November's job growth exceeded Wall Street expectations of 90,000 jobs added for the month, and was a small increase from October's 138,000 jobs added.

Three job sectors in which employment rose in November include :

• Retail : 58,000 jobs added
• Business and Professional Services : 43,000 jobs added
• Healthcare : 20,000 jobs added

It appears that the effects of Hurricane Sandy were muted, although they may be temporarily overshadowed by seasonal factors.

After losing more than 7 million jobs in 2008 and 2009, the U.S. economy has since recovered more than 4.6 million jobs. Job growth has reached 26 consecutive months and is expected to remain consistent through 2013.

In addition, the BLS report showed the national unemployment rate dropping 0.2 percentage points in November to 7.7 percent. This is the lowest Unemployment Rate since January 2009.

Growing employment is a strong indicator of economic expansion, which traditionally leads to rising mortgage rates.

When mortgage people work, more income is earned and more taxes are paid. This often leads to higher levels of both consumer spending and government spending, both of which spur additional hiring and economic expansion.

When the economy is in expansion, equity markets often gain and bond markets often lose. When bond markets are in retreat, mortgage rates rise. This relationship takes on added importance this week with the Federal Reserve's Federal Open Market Committee (FOMC) scheduled to adjourn.

The Non-Farm Payrolls Report is a top economic indicator and is a key part of economic and policy decision made Capitol Hill and within the Federal Reserve. As one example, recent Federal Reserve stimulus has been specifically aimed at lowering the national Unemployment Rate. As the economy improves and as jobs are regained, the Fed may be less likely to support low rates.

If you're floating a mortgage rate, consider locking in. Rates can't stay low forever.

The Rental Bubble

I am going to forecast that, a few years from now, the current rental construction boom will result in over-saturation – just as it happened with the residential “For Sale” world in 2006. That was when we said “Let’s take homeownership from its historic 58-65 percent growth level and drive it up to 80 percent.” While homeownership is good for so many reasons, and this was a lofty and even heartfelt goal, it backfired. Like forced savings, we drove it too hard and have had to live through the reset.

Our population continues to grow. Yet, new residential home construction has dropped to historical levels. Because of the job market, stricter lending requirements and a few years of housing valuation resets, the rental market is at an all-time high. Lenders are lending to the rental construction market because of greater returns and (in my opinion) over compensating. 

When interest rates go up, which they will and maybe by as much as 2 percent, renters will jump to homeownership in a heartbeat, assuming if they have both a job and good credit.  Home prices have stabilized and appreciation is back, while rents are high and getting higher.  There is no model that shows that renting wins out over buying, if you have a credit and a job.

As the economy recovers, we will find ourselves in an over-saturated rental marketplace. As a result, A+ rentals will rent for B prices, B rentals for C, etc. We consumers don’t do anything in moderation; we are doing now in the multi-family rental world what we did a few years ago in the residential world.

If you are buying investment property now to take advantage of appreciation over the next decade, that’s a great move. But it’s important that you factor in realistic rental rates – not today’s rates, which are dramatically inflated.According to USA Today (Sept. 12. 2012), median rent payments increased 19.6 percent, from $728 to $871, outpacing inflation. More than half (53 percent) of today’s renters are paying more than 30 percent of their income for housing.

The rental bubble is not sustainable as the economy begins its recovery. It’s not a matter of if the bubble will pop, but rather, when.

 By Pat Riley (President and Chief Operating Officer)

Safe and Snug When the Temperatures Drop

With temperatures dropping and winter on its way, it’s time to turn up the heat and get cozy!

Unfortunately with the onset of the heating season, there are increased risks of home fires and toxic gas poisoning from the use of home heating equipment.Additionally, winter storms, ice and downed power lines often result in power outages, which create additional risks as we turn to alternate means to keep warm.

According to the National Fire Protection Association, use of heating equipment is the cause of roughly one in five home fires and fire deaths.

Winter also means a greater risk of carbon monoxide poisoning. This invisible, odorless and colorless gas is produced when fuel burns incompletely, and can be deadly because it cannot be detected without special equipment.

Before you heat up a steaming mug of hot chocolate and settle in for your long winter’s nap, take some time to do a winter safety check of your home and heating equipment:

•  Have your furnace, heat pump, fireplace and chimneys professionally cleaned and inspected prior to the beginning of the heating season every year.
• Turn portable heaters off when leaving the room or going to bed.
• Make sure the room is properly ventilated when using fuel-burning heating equipment.
• Invest in a carbon monoxide detector, fire extinguisher and working smoke detectors. If you have these items, test each year to make sure they are in good conditions.
• Make a fire escape plan for your home and make sure all members of your family are familiar with it. Consider more than one means of exit in the event that your primary exit route is blocked.

Prevention is the best way to avoid insurance claims, including those due to fire in your home. This is a great time of year to consult with your Allen Tate Insurance advisor to review your coverage and make sure you are prepared. We are here to help you!

 By Robin Price (Vice President of Sales, Insurance)

Speed Cleaning: Look Tidy in 20 Minutes or Less

Queen of Clean Linda Cobb offers ideas to straighten your house in a jiffy before guests arrive.

"If it's not dirty, don't clean it," says Queen of Clean Linda Cobb. That's the most important thing to keep in mind when it's time to spruce up before someone stops by. Here is Linda's ultimate guide to a quick cleanup. 

1. Take a laundry basket and go from room to room picking up things that don't belong. Stash the basket in a closet or somewhere guests won't look.

2. Next, tidy up the bathroom that guests will use. Wipe it up quickly, light a candle and make it look nice. Remember: That's a room where guests will have a good amount of time to sit privately, unobserved and look around.

3. Next, run the vacuum through the main rooms company will be in and fluff the pillows.

4. Shut the door on other rooms that will not be seen or needed if they're messy.

5. If it's nighttime, turn on some lights. If it's daytime, open up the shutters or the curtains or the blinds. A well-lit room looks cleaner.

6. Finally, simmer a pot of water filled with cinnamon and cloves to give your house a nice, fresh scent.

THE SCROOGE IS GONE -- AND ANGELS ARE APPEARING EVERYWHERE!

My Mom uses a walker, but is still very independent and goes out on her own.  She just called to tell me that all the angels were out this afternoon. 

Angel #1:  First Mom went to Dollar Tree at Cloverdale Shopping Center.  A lady about her same age asked if she could gift her with a handknit back that fit over her walker to hold her shopping goodies.  The lady refused to let Mom pay her for it.  She knits them for the elderly and for nursing homes as gifts. 

Then another lady shopping at the Dollar Tree asked my Mom if she could take her purchases to the car for her.  Angel #2.

Angel #3.  Then she went to Cloverdale Kitchen for lunch for veggie soup and salad.  When she went to the register to pay, she was told "no charge".  The lady having lunch behind her had paid for her lunch. 

Wow -

The Federal Reserve Begins A 2-Day Meeting Today

The Federal Open Market Committee (FOMC) begins a 2-day meeting today, its last of 8 scheduled meetings this year.

The Federal Open Market Committee is a 12-person subcommittee within the Federal Reserve. It's the group which votes upon U.S. monetary policy. 

The monetary policy action for which the FOMC is most well-known is its setting of the Fed Funds Funds. The Fed Funds Rate is the interest rate at which banks borrow money from each other overnight.

Since late-2008, the Fed Funds Rate has been near zero percent.

Prime Rate, a business and consumer interest rate used in lines of credit and credit card rates, is based on the Fed Funds Rate. Prime Rate has been similarly unchanged since 2008.

One rate which the Federal Reserve does not set is the 30-year fixed rate mortgage (FRM) rate.

Like all other mortgage rates, the 30-year FRM is based on the market value of mortgage-backed bonds; securities bought and sold by investors.

There is no correlation between the Federal Reserve's Fed Funds Rate and the everyday homeowner's 30-year fixed rate mortgage rate. Some months, the two rates converge. Other months, they diverge. Since 2000, they've been separated by as many as 5.29 percentage points.

They've been as close as 0.52 percentage points.

However, although the Federal Reserve does not set U.S. mortgage rates, that doesn't mean that it can't influence them. The Fed's post-meeting press release has been known to make mortgage rates get volatile.

If, in its post-meeting press release, the Fed notes that the U.S. economy is slowing and that new economic stimulus is warranted, mortgage rates will likely fall. This is because additional Fed stimulus would likely lend support to U.S. mortgage markets which would, in turn, boost demand for mortgage-backed bonds.

Conversely, if the Fed acknowledges stronger-than-expected growth in the U.S. economy and no need for new stimulus, mortgage rates are expected to rise.

Either way, mortgage rates will change Wednesday upon the FOMC's adjournment -- we just don't know in which direction. Rate shoppers may see fluctuations of as much as 0.250 percent.

The FOMC adjourns at 12:30 PM ET.

Preparing Your Home for the Cooler Months

This year has certainly flown by, and now, with the fall almost over, it's a great time to start prepping your home before winter strikes. From water leaks to the chimney, it's better to be ready for the cold season before it hits.

Here, State Farm offers up some maintenance tips for your home:

• Check all window and door locks for proper operation
• Windows that can be opened by breaking the glass and unlocking them, are less effective deterrents to criminals. Check with the hardware store for window lock alternatives.
• All exterior doors should have deadbolt locks.
• Make sure there are working nightlights at the top and bottom of all stairs

Other safety ideas for stairs:

• Tile and painted wood or concrete stairs can be slippery when wet or when a person's shoes are wet. Resurface the treads with slip-resistant strips near the stair nosing.
• All stairs of at least three risers should have a handrail.
• Do not store items on the stairs.

Heating:

• Have a heating professional check your heating system every year
• Woodburning stove connector pipes and chimneys should be inspected by a certified chimney sweep at least annually.
• Replace your furnace filter
• Furnace filters need to be replaced frequently to allow your heating and cooling systems to operate properly.
• Run all gas-powered lawn equipment until the fuel tank is empty. By doing this, you are removing flammable liquid storage from your garage. At the same time, make sure you aren't storing dirty, oily rags in a pile. They can ignite spontaneously.
• Have a certified chimney sweep inspect and clean the flues and check your fireplace damper
• Soot and creosote, which build up inside the chimney, can ignite when a fire is lit in the fireplace.
• Remove bird nests from chimney flues and outdoor electrical fixtures
• Bird nests on top of light fixtures are a fire hazard. Bird nests in chimney flues can prevent a proper venting of combustion gases and can catch fire from sparks. You should exercise great caution when working on your roof or consider hiring a qualified professional to take care of any work that needs to be done.

A few more tips:

• Make sure the caulking around doors and windows is adequate to reduce heat/cooling loss
• Check glazing for loose or missing putty or glazing compound. This will also help reduce water damage to the windows and door frames.
• Make sure that the caulking around your bathroom fixtures is adequate to prevent water from seeping into the sub-flooring
• Check for cracked or missing caulk around the base of your toilet, bath tub, and bathroom cabinets. Properly sealing gaps between your bathroom fixtures and flooring material can prevent damage.

By Stephanie Andre

REMARKABLE IN ROBINHOOD WEST!

Click here to view this property's website

Sitting deep within the 1.45 acre wooded lot, you see this exceptionally maintained home. 2012 updates: Insulated carriage style garage doors, tile floor in master bath, custom tile back plash in kitchen, granite counter tops; hardwood flooring in living room, dining room and kitchen. The sellers favorite room is the charming loft that is a perfect den, office, study or playroom. The wraparound deck overlooks the stream and wooden bridge. Light bright home with tasteful decor.Also includes Lot 77a.

If you want to take a tour, just let me know at 336-682-7653 or sold@pamboyle. We can schedule an appointment at your convenience.

What's Ahead For Mortgage Rates This Week : December 10, 2012

Mortgage bonds worsened last week as Fiscal Cliff talks moved closer to resolution and as the U.S. economy showed continued signs of growth.

Conforming mortgage rates rose slightly, edging off the all-time lows late in November.

According to Freddie Mac's weekly mortgage rate survey, the average 30-year fixed rate conforming mortgage rate was 3.34% last week for home buyers and refinancing households willing to pay 0.7 discount points at closing plus a full set of closing costs.

Freddie Mac also showed the 15-year fixed rate mortgage averaging 2.67% with an accompanying 0.7 discount points plus closing costs.

1 discount point is equal to 1 percent of your loan size.

The two big stories that moved rates worse last week were the Fiscal Cliff talks and the November jobs report.

With respect to the Fiscal Cliff, mortgage rates worsened as Capitol Hill moved closer to a deal which would avoid the dual-event of expiring U.S. tax break and a mandated government spending rollback. These events are both scheduled to occur December 31, 2012. 

Some analysts believe that these two events -- in unison -- could slow U.S. economic growth to the point of recession. Other analysts aren't so sure. However, Wall Street is choosing to be cautious. This is why a break in talks has been good for mortgage rate shoppers of late; and why steps toward avoiding one or both scenarios has been bad for rate shoppers.

Mortgage rates often rise when economic growth is expected. This explains why November's jobs report pushed mortgage rates worse Friday, too -- Wall Street underestimated the Non-Farm Payrolls report which showed 146,000 net new jobs created, and didn't expect to see the national Unemployment Rate drop to 7.7%.

This week, mortgage rates may rise again with new inflation data and a Retail Sales report set for release.

The big event, though, is the Federal Open Market Committee's 2-day meeting scheduled, set to begin Tuesday. The FOMC is not expected to add new economic stimulus, but the Fed's words can carry as much weight as its policies and actions.

The Fed will issue a statement to the markets at 12:30 PM ET Wednesday, and will host a press conference shortly thereafter. Mortgage rates are expected to remain volatile all week.

Winterize Your Home Now

As the weather gets colder and colder and we move into winter here in the Carolinas, it’s important to take the proper measures to winterize your home to prevent losses and future claims.

Here are some main points on winterizing your home:

Prepare your fireplace by inspecting the damper, storing chopped firewood away from your home, and removing soot and creosote.

Call an HVAC professional to inspect and clean your furnace. The best piece of advice I can give you is to turn the furnace on and have it inspected before the coldest winter months. The last thing you want is to have a faulty furnace when the temperature starts to plummet.

Inspect your doors and windows for cracks and exposures. According to EarthWorks Group, the average American home has leaks that amount to a nine-square-foot hole in the wall…that’s a lot of cold air coming into your home during those winter months!

Clean out gutters and prevent the formation of potential ice dams by removing any debris. Ice dams result in water backing up and freezing in your gutters which can then cause water to seep into your house.

Drain air conditioner pipes and shut off the AC water valve. If you’ve never experienced a burst pipe during a winter freeze now would not be the time to start. Shutting off the AC water valve and making sure the pipes are drained will save you from many unnecessary headaches this winter.

If you leave on vacation, leave the heat on at least 55 degrees.

Prepare an emergency kit of candles, batteries, non-perishable food items, first aid, matches/lighters, and water.

Taking these few steps before the winter weather moves in will help your protect your home and prevent future damage.

Census: Couples Marrying Later, Affects Household Size

The median age at first marriage increased to 28.2 for men and 26.1 for women in 2010, an increase from 26.8 and 25.1 in 2000, according to the U.S. Census Bureau. This increase is a continuation of a long-term trend that has been noted since the mid-1950s. In addition, the overall percentage of adults who were married declined to 54.1 percent in 2010 from 57.3 percent in 2000.

According to America's Families and Living Arrangements, the average household size declined to 2.59 in 2010, from 2.62 people in 2000. This is partly because of the increase in one-person households, which rose from 25 percent in 2000 to 27 percent in 2010, more than double the percentage in 1960 (13 percent).

These data come from the 2010 Current Population Survey, which provides a look at the socioeconomic characteristics of families and households at the national level.

"This series of tables highlights some of the changes in household composition over the last decade," said Rose Kreider, a family demographer at the U.S. Census Bureau.

Even though the overall household size declined between 2000 and 2010, some household subgroups increased in size. For example, households where the householder had less than a high school degree increased to an average of 2.87 people in 2010 from 2.67 people in 2001.

Editor's note: The information can be accessed at http://www.census.gov/population/www/socdemo/hh-fam.html

Other highlights:

• The percentage of households headed by a married couple who had children under 18 living with them declined to 21 percent in 2010, down from 24 percent in 2000.
• The percentage of children under 18 living with two married parents declined to 66 percent in 2010, down from 69 percent in 2000.
• In 2010, 23 percent of married-couple family groups with children under 15 had a stay-at-home mother, up from 21 percent in 2000. In 2007, before the recession, stay-at-home mothers were found in 24 percent of married-couple family groups with children under 15.
• The percentage of children under 18 who lived in a household that included a grandparent increased from 8 percent in 2001 to 10 percent in 2010. Of the 7.5 million children who lived with a grandparent in 2010, 22 percent did not have a parent present in the household.

Information provided by:  RISMEDIA, November 11, 2010

7 Ways to Spruce Up an Outdoor Deck

I know it seems a bit out of season, but if you are thinking about adding a deck for 2013, you should probably start planning now.  I have just added a screened porch to our home and the "devil" was in the planning stages.  Or, if you just want to spruce up your existing deck, these are some nifty tips.

If you need a recommendation for a contractor, I have a great one.  Hope you enjoy this article. 
Everyone loves having an outdoor deck to relax on during the summer months. But if your deck is just a little bit on the boring side, there's a wide variety of deck helpers available for turning "ho-hum" into "wow"!

Deck balusters: Instead of standard wooden pickets on your deck railing, how about something really eye-catching? There are a variety of extruded aluminum balusters to select from that combine beautifully with wood to create a sturdy deck railing that's also weather-resistant. Aluminum balusters are available in lots of different baked-on enamel colors, such as black, white, green, bronze, silver and others.

Balusters don't need to be straight up and down either. You can choose from ones that are twisted in classic Colonial shapes, or ones that are arced out in smooth curves or angular bends to suit your particular tastes and style. All of them are pre-shaped, and simple to install.

Deck rail panels: How about something even more dramatic to set off your deck rail. There are laser-cut steel panels available with the silhouettes of trees, wildlife and other outdoor scenes. The panels fit into grooves in wooden supports to make up a sturdy deck railing that will really become a unique feature in your yard. You can ring the entire deck with them, or use just one or two panels as a focal point.

Solar post lights: Here's a quick and easy deck upgrade that looks great and is also a nice safety feature. Solar post lights attach to the top of any standard 4-by-4 posts. A small solar panel on top of the light uses sunlight during the day to recharge batteries inside the fixture, which powers LED lights at night. Solar post lights are available in several different styles and colors, and are easy to install with no electrical wiring required.

Rail-top planters: You can dress up the look of your deck without utilizing any valuable deck space by incorporating some rail-top planters. These attractive planters are made from vinyl, cedar, or other materials, and are designed with a groove in the bottom that fits over standard 2-by-4 or 2-by-6 lumber. Available in both round pot and rectangular box designs, the planters fit over the top cap of the deck's railing. They're easy to install wherever you want to add the beauty and color of fresh flowers on your deck, or even to create a quick herb garden.

Patio misters: If you have a deck that's a little too hot to handle some afternoons, consider the addition of some patio misters. A patio mister is simply a series of micro-nozzles, pre-installed in a length of hose. The hose is attached to the edge of your deck railing, the underside of a patio cover or pergola, or any other convenient location, then attached to an outdoor hose bib.

The nozzles deliver a continuous, very fine mist of water, which in turn will cool down the ambient temperatures and make your deck and your outdoor environment much more enjoyable.

Patio misters are available in different lengths and nozzle configurations, and there are also accessories such as booster pumps, splitters and even in-line filters to help you customize your installation.

Rope lights: For some fun and some added safety, consider adding some rope lights to your deck. Rope lights are tiny bulbs encased in clear or colored flexible plastic tubing, and they can be installed outdoors in a wide variety of locations.

They add a festive atmosphere to any deck or patio cover, and provide additional subtle, non-glare lighting for steps, railings and other areas. Look for lighting that's UL-approved (by Underwriters Laboratories Inc.) for exterior use.

Plan sets: Feeling ambitious? If you'd like to tackle an outdoor project that will improve your yard and give you a tremendous feeling of accomplishment, but you're at a loss as to where to begin, consider buying a set of pre-drawn plans. There are plan sets available for a wide variety of projects, from simple barbecue carts and picnic tables to Adirondack chairs and deck gliders.

You'll find plans for interesting deck railings, pergolas and deck covers, and even for the deck itself. The typical plan set comes with drawings, material lists and assembly instructions, and some are even available with DVDs.

You can find these and other accessories for your deck at your local home center, hardware store and lumberyard, as well as at some larger department stores and warehouse stores. And as always, a search of the Internet will yield a wealth of products and ideas.

By Paul Bianchina,  Inman News