Aug. 29, 2008 - Existing-Home Sales Projected to Improve

 According to a mid-August report by the National Association of Realtors®, some improvement is projected for existing-home sales in the months ahead, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently passed housing stimulus bill. The Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in June, rose 5.3 percent to 89.0 from a downwardly revised reading of 84.5 in May, but remains 12.3 percent below June 2007 when it stood at 101.4.

“The vacillation of data from one month to the next indicates a housing market in transition,” said NAR Chief Economist Lawrence Yun, adding that sales have been in a pattern of rising and falling within a fairly narrow range. “The rise in pending home sales was broad-based with all four regions showing gains. This is welcome news because a rise in contract activity is necessary for an overall housing recovery. With a tax credit now available to first-time home buyers, increases in home sales could be sustained with the momentum carrying into 2009.”

The PHSI in the South jumped 9.3 percent to 92.4 in June; rose 4.6 percent to 101.0 in the West; increased 3.4 percent to 79.6 in the East; and inched upward 1.3 percent to 79.6 in the Midwest.

“Buyers entering the hardest-hit markets, in some cases with multiple-bid offers, may have put a floor on prices,” said Yun, adding that home prices did notfall as much as anticipated in the second quarter. "In addition, rising commodity prices and higher construction costs have resulted in a very unusual market today with existing-home prices being less than replacement building costs in some areas. Home prices are projected to increase 3 to 6 percent in 2009.”

The 30-year fixed-rate mortgage is expected to trend up to 6.5 percent by the end of 2008, and then hold at that level for most of next year, the report said.
 

Aug. 6, 2008 - New listing at 1269 Marchant Pl in Lewisville

Aug. 4, 2008 - goog-411

Did you know you can google a local business or service with your phone?

You don't need a computer, an internet connection, or even a keypad on your phone or mobile device. GOOG-411 is voice-activated, so you can access it from any phone, in any location, at any time -- and for free.

Here's what you do:

    * Dial 1-800-GOOG-411 from any phone.
    * State the location and business type.
    * Connect to the business for free.

If you are calling from a mobile device, GOOG-411 can even send you a text message with more details and a map. Simply say "text message" or "map it."

Aug. 4, 2008 - 8 Steps to Painting/Staining Concrete

One way you can easily and economically improve the appearance of your home is to paint or stain any concrete walls, flooring, patios or other outdoor surfaces that are gray and boring. While the process is a bit more difficult than painting an interior wall, it's still fairly easy and the results can be fantastic. Here's how you do it:

1. Test the Area -- Before painting the concrete, perform a moisture test by taping a 24-inch square of plastic to the area and waiting 48 hours. If there is any discoloration or any visible signs of moisture trapped in the plastic, the cement should not be painted or stained.
2. Roughen the Surface -- Concrete should be as rough as 120 grit sandpaper; smooth concrete will not accept stains or coatings. You can roughen the surface with a wire brush and acid-based solution or use a cement etching solution found in most home improvement stores. You can also use a floor sander or shot blaster to roughen the surface.
3. Clean the Surface Thoroughly -- Use a degreaser or concrete cleaner to remove all paint, dirt, moisture, etc. The concrete must be clean and dry or the paint or stain will not work correctly. If you use a power washer, wait at least 48 hours before doing any repairs, painting or staining.
4. Repairs -- Fix any cracks or holes in the concrete with hydraulic cement.
5. Seal the Concrete -- Masonry coating works best. Let dry.
6. Primer -- Apply a coat of concrete-safe primer with a roller or sprayer. Let dry.
7. Paint/Stain -- Apply paint or stain with a roller or sprayer and let dry. Apply additional coats of paint as needed. Always dry thoroughly between coats.
8. Sealer -- Apply a coat of concrete-safe sealer.