"I like to see a man proud of the place in which he lives. I like to see a man live so that his place will be proud of him." ~ Abraham Lincoln Featured In This Issue Special Days and Events Existing-Home Sales Rise in April Ceiling fans can save you energy all year long Cooking Corner Special Days and Events July 4 - Independence Day July 11 - World Population Day July 12 - Parent's Day July 20 - Moon Day July 23 – National Hot Dog Day July 27 – Cross Atlantic Communication Day July 30 – Father-in-Law Day The birth flower for July is the Larkspur. The birth stone for July is the Ruby. Existing-Home Sales Rise in April Existing-home sales rose in April with strong buyer activity in lower price ranges, according to the National Association of Realtors®. Existing-home sales - including single-family, townhomes, condominiums and co-ops - increased 2.9 percent to a seasonally adjusted annual rate of 4.68 million units in April from a downwardly revised pace of 4.55 million units in March, but were 3.5 percent below the 4.85 million-unit level in April 2008. Lawrence Yun, NAR chief economist, said first-time buyers continue to influence the market but there also is a seasonal rise of repeat buyers. "Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish," he said. "The Federal Reserve needs to help restore liquidity for the jumbo mortgage market by buying these loans under the TALF program." "Because foreclosed properties will likely be released into the market over the rest of year, it is critical that distressed homes be quickly cleared from the market," Yun said. "Fortunately, home buyers are being attracted to deeply discounted prices and are bidding up many foreclosed listings, particularly in California, Nevada, and Florida - this will set the stage for healthy market conditions going forward." An NAR practitioner survey in April showed first-time buyers declined to 40 percent of transactions, implying more repeat buyers are entering the traditional spring home-buying season. It also showed the number of buyers looking at homes has increased 14 percentage points from a year ago. "This is consistent with our forecast for home sales in the latter part of the year to be 10 to 20 percent higher than the second half of 2008," Yun said. The national median existing-home price for all housing types was $170,200 in April, which is 15.4 percent below 2008. Distressed properties, which accounted for 45 percent of all sales in April, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said conditions are optimal for buyers with good jobs and long-term plans. "We have record low mortgage interest rates, a wide selection of homes and affordable prices in most areas," he said. "When you add the $8,000 first-time buyer tax credit, it's hard to imagine a better time to make an investment in your future through homeownership." According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.81 percent in April from 5.00 percent in March; the rate was 5.92 percent in April 2008; data collection began in 1971. Total housing inventory at the end of April rose 8.8 percent to 3.97 million existing homes available for sale, which represents a 10.2.-month supply at the current sales pace, compared with a 9.6-month supply in March. "The gain in inventory is largely seasonal from sellers entering the spring market. Even with the rise, inventory over the past few months has remained consistently lower in comparison with a year earlier," Yun noted. Single-family home sales rose 2.5 percent to a seasonally adjusted annual rate of 4.18 million in April from a level of 4.08 million in March, but are 2.8 percent below the 4.30 million-unit pace in March 2008. The median existing single-family home price was $169,800 in April, which is 14.9 percent below a year ago. Existing condominium and co-op sales increased 6.4 percent to a seasonally adjusted annual rate of 500,000 units in April from 470,000 in March, but are 9.4 percent lower than the 552,000-unit pace a year ago. The median existing condo price was $173,900 in April, down 18.5 percent from April 2008. Regionally, existing-home sales in the Northeast jumped 11.6 percent to an annual pace of 770,000 in April, but are 10.5 percent below April 2008. The median price in the Northeast was $237,400, which is 9.6 percent lower than a year ago. Existing-home sales in the Midwest slipped 2.0 percent in April to a level of 1.00 million and are 9.9 percent lower than a year ago. The median price in the Midwest was $138,800, down 11.7 percent from April 2008. In the South, existing-home sales increased 1.8 percent to an annual pace of 1.74 million in April but are 8.9 percent lower than April 2008. The median price in the South was $148,000, which is 12.8 percent below a year ago. Existing-home sales in the West rose 3.5 percent to an annual rate of 1.17 million in April and are 19.4 percent higher than a year ago. The median price in the West was $222,600, down 21.8 percent from April 2008. Reprinted from REALTOR® Magazine [June, 2009] with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2009. All rights reserved. Ceiling fans can save you energy all year long ARA) - Gas and energy prices are rising again, and that means Americans must tighten their belts even further. You don't need to dread hot summer temps and high air conditioning bills when you have ceiling fans in your home. If you already have fans in place, check to see whether they are Energy Star qualified. Ceiling fan and light combinations that have earned Energy Star accreditation are about 50 percent more efficient than non-conforming units. The difference lies in improved motors and blade designs. A model with an Energy Star light kit included provides even greater energy savings, and the bulbs don't need to be changed as often. "Consumer demand for more energy-efficient products has driven the industry to integrate new lighting, blade and motor technologies that save operating costs. New products integrating the latest technologies are up to 75 percent more efficient than previous models" says Steve Cox, vice president and general manager of Emerson Ceiling Fans. Paul Vrabel, a principal at ICF International, an energy solutions firm that partners with government clients, explains how to operate fans correctly. "Put them on when you are in the room -- during the day and when sleeping -- and turn them off when you leave. Ceiling fans cool people, not air," he says. "Using fans wisely while turning down the [air conditioner] can save a lot of money." Ceiling fans do such an efficient job of circulating air, they probably should be everywhere. "Any type of room can benefit," says Nathan Frampton, president of ceiling fan company Fanimation. "Bedrooms, family rooms, and exterior living spaces are the most common applications, but we are seeing [them used] more in larger bathrooms, walk-in closets, home offices and garages." Size matters! Dennis Davenport, vice president of product development for Monte Carlo Fans, concurs. "Consumers are installing ceiling fans throughout their homes," he says, pointing to the rapid growth of models in all sizes. "For example, fans with blade spans of 54, 60 and 72 inches are increasingly popular for living rooms, while those with 24-inch spans are being installed in hallways and walk-in closets." How do you estimate the best size for your needs? "A good rule of thumb is a 36- to 52-inch diameter blade sweep for rooms measuring 200 square feet or less," Frampton says. "For rooms 200 to 400 square feet, we recommend a diameter of 52 inches or greater; if the space is more than 400 square feet, two or more fans will be needed." The number of blades makes some difference in airflow, however, whether to choose a four-, five-, or six-blade version is really a matter of aesthetics, according to Frampton. "You hear a lot about blade pitch, diameter and motor size. These are factors that will affect airflow, but in the end the best way to judge is to stand under the fan you prefer and decided if the airflow feels sufficient," he says. It's important not to underestimate. "The most common size sold in the U.S. is a 52-inch diameter. This fan size provides excellent results in rooms up to 150 square feet, but can also be appropriate for smaller rooms since it can be adjusted with multiple speeds and the direction of the blades can be reversed," says Joe Rey-Barreau, education consultant for the American Lighting Association (ALA) and an associate professor at the University of Kentucky's School of Interior Design. "It's better to choose a slightly larger fan for a room than to choose a diameter that might prove to be too small to adequately provide air movement." Do you need a light kit? Many fans now come with integrated lighting or offer a coordinating light kit available as an option. These lights do not offer enough illumination on their own, but they are useful in a room that already has some form of ambient lighting. "Ceiling fan lights should be considered as accent and mood lighting," Davenport says. Should a ceiling fan blend in or stand out? The next step to consider is whether you'd like it to serve as a focal point or be more understated. "Is the room contemporary, traditional, tropical or transitional? Ceiling fans can serve as a design feature," says Frampton. "The primary trend in ceiling fan design has been for styles that create aesthetic statements as bold as a chandelier," says Rey-Barreau. "This follows the overall trend in residential design for more varied and more sophisticated concepts. Today a consumer can find a ceiling fan that matches any interior design." Fans help in winter, too! In the summer, ceiling fans offer a comfortable alternative and accompaniment to air conditioning, but in the winter employing the reversible blade option provides a means of circulating the hotter air that rises to the ceiling. This helps save on heating bills when the weather gets cold. For more information about how to utilize ceiling fans for year-round comfort in a fashionable style, contact an ALA member showroom. Go to www.AmericanLightingAssoc.com or call (800) BRIGHTIDEAS for a list of stores in your neighborhood. Courtesy of ARA Content Cooking Corner Roasted Summer Vegetable Salad From Food Network Kitchens
	Ingredients: 1 ear corn - grilled, shucked, and cut off the cob 1 red pepper -- roasted, peeled, and cut into a 1/2-inch dice 1 tomato -- grilled, peeled, seeded, and cut into a 1/2-inch dice 2 zucchini or other summer squash -- cut into 1/2-inch slices, grilled, and cut into 1/2-inch dice 1 tablespoon lime juice 1 tablespoon lemon juice 2 tablespoons white wine vinegar 2 ounces extra virgin olive oil Salt and pepper
Directions Combine all ingredients. Marinate for 30 minutes. Adjust seasonings to taste. Hope you've enjoyed July’s Newsletter. Please call or send an e-mail if you have any questions about buying, selling, or investing in real estate.
	Best Regards, Pat Navarette Broker/Owner