Shrinking inventories for Home buyers

Home price gains accelerated at end of 2014

The number of homes on the market fell for the first time in 16 months in December, hinting at a potential acceleration in home prices in the months ahead.

That might be good news for sellers, but not for buyers who could get priced out of the market or the real estate agents who represent both sides in home sales.

“Months’ supply is already low at 4.4 months,” said National Association of Realtors Chief Economist Lawrence Yun in an analysis of the trend. “More inventories are needed, not less. Or else, home prices could reaccelerate.”

Inventory dropped only slightly in December — it was down 1 percent from a year ago, to 1,85 million homes — but the months’ supply of homes on the market was already low. Anything less than six months of supply is generally considered an indication that demand is outstripping supply.

http://www.inman.com/2015/01/28/shrinking-inventories-could-end-up-pricing-more-buyers-out-of-the-market/

Smart Ideas to get Organized for the New Year 2015

If your New Year's resolutions include getting organized, this is the month to get started. January is Get Organized Month. Here are 10 tips on how to get organized in the new year. Having worked as a professional organizer, I can tell you that each of these things can be very helpful.

1. Organize for 15 minutes each day.
This could mean anything from sorting mail to throwing out mystery foods in the refrigerator. Just 15 minutes a day can make a huge difference over time.

2. Download Quicken (or some other money management program).
Quicken will make your financial life a million times easier to manage. It costs around $50, but its well worth the investment. From Quicken you can pay bills, download transactions from banks and credit card accounts, plan, budget and see what you are spending and what your overall financial picture looks like.

3. Make a simple sorting system for your papers. It's as easy as this:

• to do
• to read
•  to file

That's all you need to keep everything in order. Think about it -- what else is there? Now use the 15 minutes as mentioned above once or twice a week to sort your papers. Some find stackable filing shelves work, others like to have upright files they can thumb through. The Container Store is a great resource for all kinds of organizational tools. If you want to fancy it up a bit, check out See Jane Work. 

4. Keep a list of your passwords in a safe place. Remembering passwords can be a real pain, and a time waster also. There are many ways to keep your passwords in a safe and secure place -- besides that list on the post-it near your computer -- including Last Pass. Find what works for you and spend a few hours recording all of your vital information in an online location that you can access from anyplace. 

5. Have a family information center. Whether it's a bulletin board in your kitchen or a google calendar that you all sync to and add to individually, it's important that a family shares plans and information, such as times, dates, phone numbers and so on. Color-coding can take things even further, if you're so inclined -- each family member can have their own color, which is extremely helpful for at-a-glance info. 

6. Find an online backup program and use it. Carbonite or SOS are a couple of good options -- or a backup drive connected to your computer is an alternative choice. This is essential to your peace of mind regarding anything that you store on your computer -- from legal documents to photos. With online backup, you can retrieve your files anyplace, anytime. 

7. Be ruthless in your closet. Some quiet afternoon, maybe if it's raining and no one else is at home, spend a few hours going through your clothes closet. Be honest with yourself about whether things fit, or you like them or you'll ever wear them again. If you have a friend you trust, try things on and get an honest opinion.

Get those big green garbage bags (the best things for purging) and fill them up with your gently used clothing and shoes, handbags and accessories, ties, suits... whatever you've got. Take them to a local charity. Toss out torn, stained or ripped items. Now you will have a much more manageable closet, and people in need will have clothes to wear.

Also, do yourself a favor and buy some Ultra-Thin Hangers -- you'll be amazed at the additional room you have.

8. Check the expiration dates in your medicine cabinet and in your kitchen.
You'll be surprised how many things are not only out of date, but basically useless, too. Spices lose their flavors, pain relievers lose their efficacy. Get rid of any prescription drugs that you no longer need by taking them to a drop off location for proper disposal. Check canned goods, dry goods, cereals and frozen foods for expired items.

9. Start scanning your photos into your computer -- or send them out and have it done for you.
This is a long-term project and should be approached much like organizing itself -- 15 minutes a day, max. You can find personal photo scanners at a very reasonable price. Don't set a deadline or pressure yourself to get it done quickly -- just do a bit at a time. If you prefer to have a service do this for you, check out what's available.

10. Get an Emergency Kit for Your Car.
No matter where you live, you could find yourself in an emergency situation due to weather, earthquakes or more. An emergency kit for each of your family cars is an easy way to have what you need on hand when you're on the road if a disaster strikes.

If this all seems like too much to do on your own, hire a pro to help you. It's much easier to get organized with someone cheering you on and helping you out. Go to theNAPO website  (National Association of Professional Organizers) to find a person in your area. There are specialists in every field, from garages to computers.

Getting organized takes patience, time and the ability to throw things away. Once you get started, you'll feel so much better!

Previously published on Midlife Boulevard

http://www.huffingtonpost.com/sharon-greenthal/how-to-get-organized_b_6382634.html

Lower FHA premiums to fuel home buying in 2015

Lower FHA premiums to fuel home buying in 2015: In a move designed to bring more first-time homebuyers into the housing market, the Federal Housing Administration (FHA), the government insurer of home loans, will lower its annual insurance premiums from 1.35 percent to 0.85 percent. Mortgage bankers praised the decision. "It couldn't come at a better time," said David Stevens, CEO of the Mortgage Bankers Association. "February is the beginning of the spring market. I think it will have a definitive impact particularly in the first-time homebuyer market." For the typical FHA applicant, the reduction in premiums means a savings of about $80 on their monthly payment, according to CoreLogic's chief economist, Sam Khater. The FHA had been the only low down payment product available, with a minimum 3.5 percent down, but recently Fannie Mae and Freddie Mac announced a new 3 percent down payment product that would require private mortgage insurance. The product would compete directly with the FHA and could have offered some borrowers a cheaper option if they had a good credit score. But many applicants that would qualify under FHA's credit and debt-to-income guidelines would not have been approved for the new Fannie and Freddie programs, so this move by FHA will add more purchasers into 2015. provided by: Dave Budzinski NMLS#: Phone: 314-862-0123 Email: everyonebigbend@mimutual.com