Archive for the ‘Property Source Radio’ Category

Falling Around Rochester

Wednesday, September 19th, 2012

By Lana Torre

Are you searching for fun activities for your family this fall? My husband Jamie, is always on a mission to find interesting, outdoor fairs and fun festivals to attend on beautiful autumn weekends. We enjoy day tripping around the Finger Lakes and scenic southern tier. He loves to stop at farm stands to purchase organic vegetables. Last weekend we bought so many tomatoes that it took me 3 days of cooking ‘crazy sauce’ [ a homemade marinara] and those containers of sauce almost filled the freezer. One zucchini we bought was so large that I cooked it three different ways on three different days. And for 10 cents each, green peppers sliced and bagged with onions will be on hand all winter for a sausage and pepper dinner. Even on the coldest of winter days, Jamie will be bonding with his outdoor grill.
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In late September you can attend the Naples Grape fest. This is a must on your must do list! We never miss it. Located on rt 21 south, just past the end of Canandaigua Lake. This fest offers up an homage to the grape and everything purple. There are craft and art vendors, wine tastings and [not to be missed] the grape pie contest. There are fair games and plenty to do with the kidlets too. Wear your purple pride and be sure to bring home a grape pie [we love the pie with the crumb topping].
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Also, in late September is the Appleumpkin Fest. This fest is in the quaint community of Wyoming, known for it’s historic Gaslight Village. Events are a baking contest, music and entertainment including country clog dancers and an Irish band.
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The Garlic Fest in Cuba is a fest for the foodies. A new king and queen of garlic will be crowned and given staffs adorned with large garlic bulb finials. Garlic braiding demos and a garlic cook off at the ‘stinking rose’ food tent are some of the highlights.
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My sister never misses the Hilton Apple Fest. Here you can enter an apple pie in the great apple pie baking contest. There will also be an auto show and music by the 60’s group, the Invictas.
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For dates and times, check out these websites visitRochester.com, Rochesterkidsoutandabout.com, or localwineevents.com.
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Get out of the house and hop in the family truckster and enjoy a fall festival. While riding around, stop at farm stands and bring home local produce. Nothing is more beautiful then a large wooden bowl on the table brimming with fresh, sweet apples. And remember to bring home a grape pie from Naples, [the pie with a crumb top].

By the Beautiful Sea

Wednesday, September 19th, 2012

By Lana Torre

Planning a late summer getaway? Are you traveling to the ocean? Bring home the best of nature’s treasures– sand, sea shells and broken colorful gifts of sea glass and stones.
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My husband Jamie and I started a tradition to memorialize our trips. We always gravitate to the water and because we can’t bring the water home, we collect sand and shells. Labeled simply in glass jars, we have these treasures displayed on long shelves at our cottage. It is nostalgic to look at our collections and remember our trips Nantucket, Cape Cod, and Hampton Beach.
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When you bring your shells home, soak them in a bleach and water solution. Lay them in the sun to dry and they will fade to a soft white, and eliminate any critters living in them. I like to sort the shells by shape and then decide how I will arrange them in the glass jars.
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There are so many projects to do with your shells. Get the kidlets involved. They can be made busy for hours. Buy natural wood picture frames and have the kids glue a border of shells around it to display vacation photos.
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Drill small holes in flat shells and string together with natural twine. You can hang these from a cup hook on the porch and they will dingle-dangle like wind chimes. You could also use these lengths of shells to decorate a vacation Christmas tree. Gather a small handful of shells and place in the center of tulle netting. Hang these with binder clips at the corners of your tablecloth to hold it down when the late summer winds blow.
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Are you considering a concrete patio? Sprinkle shells of all sizes into the wet concrete, then wash off the ‘fat’. Bits of sea shells will remain exposed. You will have a unique and vacation like setting for family picnics.
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Find your nature’s treasures and get shelling. If you are stay-cationing this summer, there is a useful website where you can purchase shells, starfish, and sand dollars. Visit SeaShellCity.com. You can also have your vacationing friends bring home souvenir shells for you, or simply shop at a craft store for them.
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Have fun on your late summer getaway. Keep the kids busy and creative this summer. Put your feet up, pour a glass of iced tea, and figure out how you are to pay for all this fun!

Simple Summer Ideas

Wednesday, September 19th, 2012

By Lana Torre

Summer is here, hooray! We have such a short season here in Rochester. Let’s give your home a light and summer fresh look. Maybe you will love it so much that you will continue the new look beyond summer and lighten your home all seasons. Perhaps you are considering a move. This is the right time to get motivated before you are spending your time shopping for back to school goodies.
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Here are some simple yet effective ideas for you.
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Let the sunshine in. Remove heavy and outdated window treatments. When you are ready to sell your home, most buyers desire natural light. Hang panels of linen or cotton twill. Use whites and off whites, try to match to your trim color. If you have some extra cash in your caboodle, plantation shutters are a classic choice. Made of wood or a composite material, they make controlling the room’s light so easy. Shutters can be made in different slat widths too. I always recommend a wider slat. They are an investment, but they will never go out of style. I would always suggest a professional installer. This is not a DIY job.
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Paint is another quick fix to spruce up your home. If you are planning to put the house on the market this fall, now is the time to attack that job. Use fresh colors, soft grass greens, nautical blues, and many shades of white and cream. Popular now is a muted shade of taupe-ish grey.
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Paint the common areas of your home the same color for a calming effect. A new paint job is the least expensive fix and it will have the most dramatic effect. Use blue or green painter’s tape for clean edges. I like an eggshell finish on walls. It’s very easy to clean. A satin finish on the trim gives a classic, clean appearance. Glaring, shiny, gloss white trim is definitely a 1985 look!
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If your wallet isn’t cooperating with your dreams, there are still some things that you can do that have zero cost. It hurts me to say this… but rid your home of clutter. As a collector, it pains me to de-clutter. I just like stuff and every object has a meaning or a memory. But, I do arrange like things together and change the arrangements with the season. Clear the fridge of all papers and schedules. Use a corkboard, hang it in the pantry or laundry room. Keep counter surfaces clear too. Remove most everything except the coffee maker and your Kitchen Aid mixer.
Aaahhh, take a fresh breath. Work is done. You will feel so enlightened and free. Make yourself a frozen Margarita. You deserve it!

Could Getting a Loan Become Even More Difficult?

Saturday, September 1st, 2012

As Alex reported 9/1/2012 on Property Source Radio.
Realtor.org – Daily Real Estate News | TUES, AUG 28, 2012
News Sponsored by Abodey.com
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Fannie Mae, one of the nation’s mortgage giants, announced new lending restrictions that might make it even more difficult for some home buyers to qualify for a loan.

New applicants and home owners looking to refinance may find they have to meet more stringent standards, such as in meeting new loan-to-value ratios in qualifying for a mortgage. For example, Fannie announced that the maximum loan-to-value ratios permitted will now be 90 percent, down from 97 percent. Also, the GSE says that some loans will now require higher credit scores. For example, borrowers who are applying for an adjustable-rate loan will need a credit rating of 640—which is up from 620.

Also, self-employed applicants may be required to supply more tax information, such as two years of tax returns to verify their income.

“This can knock a decent portion of borrowers out of the picture who had a rough year in business two years ago,” says Matt Hackett, underwriting manager at New York lender Equity Now Inc. “You’d be surprised how much of an effect this has.”

Fannie Mae, along with fellow GSE Freddie Mac, back about two-thirds of all new mortgages.

Source: “How Fannie Mae Is Making it Harder to Get a Home Loan,” Credit.com (Aug. 27, 2012)

Latest Foreclosure Menace: Sharpie Parties

Saturday, August 25th, 2012

As Alex reported 8/25/2012 on Property Source Radio.
Realtor.org – Daily Real Estate News | MON, AUG 20, 2012
News Sponsored by Abodey.com
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Young people are connecting across social networks to start “Sharpie parties” that target foreclosed homes and use Sharpie permanent markers to leave a trail of markings behind on the vacant homes.

Merced County, Calif., officials recently reported six Sharpie parties at foreclosed homes that were spawned from invitations posted online. Partygoers—sometimes up to 100 people—are given Sharpie pens and encouraged to write on and graffiti the walls of the abandoned homes. Some of the partygoers, besides marking up the walls, also smash holes in the walls and rip up the floors, Reuters reports.

These parties have also been reported recently in Texas, Florida, and Utah.

Investigators say vandals are leaving a trail on social networking sites, like Facebook, by posting invitations and photos of the parties that are making it easier to find perpetrators. Banks, on the other hand, have been somewhat reluctant to pursue vandals because they don’t want the unwanted publicity to incite more parties, Reuters reports.

As such, “usually they leave the damage and just drop the price,” Andy Krotic, a California real estate professional, told Reuters.

Source: “Sharpie Parties Fuel Rampage on Foreclosed Homes,” Reuters (Aug. 16, 2012)

Financial Crisis Sparks Housing Commitment Phobia?

Saturday, August 18th, 2012

As Alex reported 8/18/2012 on Property Source Radio.
Realtor.org – Daily Real Estate News | TUES, AUG 14, 2012
News Sponsored by WNYopenhouse.com
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Some analysts suggest that the financial crisis has reshaped attitudes of younger generations similar to how the Great Depression did for generations during its aftermath.

The younger generation is most at risk for reshaped attitudes, they say. “This is a generation that is scared of commitment, wants to be light on their feet and needs to adjust to whatever happens,” Cliff Zukin, a professor of public policy and political science at Rutgers, told Bloomberg. “What once was seen as a solid investment, like a house or a car, is now seen as a ball and chain with a lot of risk to it.”

The younger generations’ current financial situation is what’s most holding them back. College graduates emerging post-recession are earning less and owing more in student loan debt nowadays. Forty percent of college graduates surveyed say that their student loan debt is the main thing that is delaying them from making major purchases, like buying a home.

The housing market has shown some positive signs lately, but the slow pace of recovery is making many younger adults hesitant, Jeff Lubell with the Center for Housing Policy told Bloomberg. Case in point, the number of first-time home buyers is shrinking while the number of renters is increasing.

But Lubell says he is concerned that the younger generations’ reluctance when it comes to purchases of assets like homes may be hurting their chances at building long-term wealth.

“What you are seeing is a delay in all the kinds of decisions that require a long-term financially stable future,” Lubell told Bloomberg. “That’s home purchases, that’s marriage and that’s having kids.”

Source: “Recession Generation Opts to Rent Not Buy Houses to Cars,” Bloomberg (Aug. 8, 2012)

Not Every Distressed Property Is a Bargain

Saturday, August 11th, 2012

As Alex reported 8/11/2012 on Property Source Radio.
Realtor.org – Daily Real Estate News | Tuesday, Aug 7, 2012
News Sponsored by WNYopenhouse.com
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Foreclosures can offer some home buyers big bargains, with the typical discount on a foreclosure about 19 percent, according to National Association of REALTORS® data from May. But buyers should be careful not to be guided by price alone, housing experts warn.

“Distressed properties can have great appeal,” says Wendy Forsythe, executive vice president at Atlantic Pacific Real Estate. “Discounted prices and historically low interest rates make these homes affordable to many families who might otherwise not be able to buy a property. But buyers also need to be selective because not every distressed property is a bargain.”

Home buyers need to be aware of some of the following issues with foreclosures before they buy, according to Atlantic Pacific Real Estate, a real estate brokerage with offices in 22 states:

1. Know the claims on the property. How many lenders have claims against the property? “If a distressed home has been financed with two or more loans then the sales process can be far more complex,” according to an article for RISMedia written by Atlantic Pacific Real Estate.

2. Get financing in order. How does the buyer plan to finance the purchase of the property? “Buyers who use financing must prepare in advance so they can act quickly when a distressed property becomes available as there are often multiple bids on an individual home,” according to Atlantic Pacific Real Estate.

3. Judge the condition. Buyers need to carefully weigh the condition of the property. Some foreclosures require extensive and expensive work, and some buyers may find themselves getting in over their head, if they aren’t careful and don’t have a thorough home inspection done of the property prior.

4. Check for potential delays. For example, is the property already occupied? If so, an eviction may be needed and this could delay the purchase process. Buyers need to be prepared for any potential delays.

Source: “Buying a Distressed Home: What You Need to Know,” RISMedia (July 15, 2012)

Foreclosure Whistleblowers Become Millionaires

Saturday, July 7th, 2012

As Alex reported 7/7/2012 on Property Source Radio.
Realtor.org – Daily Real Estate News | Mon, July 2, 2012
News Sponsored by WNYopenhouse.com
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Six Americans stand to collect up to $46.5 million for their part in helping to expose foreclosure abuses by the nation’s largest banks.

The whistleblowers helped the government expose how some banks used fraudulent documents to collect money from federal housing programs.

For their help in the lawsuits against the banks, these whistleblowers will be able to collect big paychecks due to the False Claims Act, “which allows private citizens to file lawsuits on behalf of the U.S. when they have knowledge that the government is being defrauded,” CNNMoney reports. Those who file the lawsuits stand to collect between 15 percent to 30 percent of the penalties assessed in the case.

For home owner Lynn Szymoniak, it was like winning the lottery. Szymoniak was served foreclosure papers in 2008. She helped prove banks had been using fraudulent documents to prove ownership of defaulted mortgages, for which the banks were then submitting insurance claims to the Federal Housing Administration. From the government’s $95 million award in a lawsuit, Szymoniak will get $18 million.

“I recognize that mine’s a very, very happy ending,” Szymoniak told CNNMoney. “I know there are plenty of people who have tried as hard as I have and won’t see these kinds of results.”

The other five whistleblowers came from within the industry, such as an appraiser who helped the government show that Countrywide Financial had been inflating home appraisals to collect higher claims from FHA. Other whistleblowers exposed banks overcharging veterans who had mortgages guaranteed by the Department of Veterans Affairs.

The whistleblower lawsuits helped lead to a foreclosure settlement, approved in May, between the nation’s five largest banks and state and federal officials. The settlement stems over banks’ errors uncovered in the processing of foreclosures. In the settlement, banks agreed to pay $5 billion in fines and about $20 billion in refinancing and mortgage modifications for home owners.

Source: “Whistleblowers Win $46.5 Million in Foreclosure Settlement,” CNNMoney (July 2, 2012)

Grill Friends

Thursday, July 5th, 2012
By Lana Torre
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Do you love grilled foods? Do you ponder charcoal grilling vs. gas? Both will grill your food, gas grilling will certainly offer more control, but you could argue that charcoal grilling gives a better flavor.
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If you’re charcoal grilling, use a chimney to get your coals lit. A chimney can be found at hardware or big box stores. It is basically a metal cylinder. You put the coals in the top and newspaper in the bottom compartment. Light the newspaper and wait for the coals to get hot, then pour them into your grill. Make sure that the coals are white hot before cooking. Separate some of the coals in the grill pan so that one side is very hot and the other side just warm. This will allow you to sear your food on the hot side and move the food to the cooler side to cook through. If you are using a marinade to flavor your grilled chicken, never pour in on the meat, but brush it on to avoid a flare up or a smoky mess. Always start your steaks or chicken from room temperature. Place the meat on the hottest side of the grill and allow the meat to char, if you move the meat too quickly it will stick to the grate, so be patient and wait. When the meat is ready to be moved it will release freely from the grill.
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Gas grills are a bit easier to use and very in vogue these days. Most are made of stainless steel and come with various combinations of 1, 3 or more burners. With multiple burners you can adjust the heat levels at different parts of the grill to enhance your grilling experience. You can use a sauté pan on top of your gas grill for sautéing onions for your steak or with many grills, use a side burner to heat water or cook other foods. Another useful grill accessory is a grill pan that has perforations in the bottom of the pan. You can easily grill fish and vegetables in the grill pan. Oil it first and allow it to warm up before placing on the gas grill and your food won’t stick. If you love the taste of charcoaled grilled foods but have a gas grill, you can buy hardwood chips to place in the grill to give your food a charred flavor.
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This summer, try to grill a pizza, it is so easy. Buy pizza dough from the deli counter. Flatten the dough into any shape. Place the dough on the grill and cook until char marks are present. Flip it over and add your toppings which could be the usual pepperoni and cheese, or you could try goat cheese and arugula or salami and tomatoes. The kids will have a memorable time when you get them involved in grilling.
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Other easy grilled foods are fruits, try peaches or pineapple and serve with vanilla ice cream. Fish is so good on the grill. You can place a meatier fish right on the grill, but if you have more delicate fish, wrap the fish in foil or parchment paper, drug store style, brush with olive oil, add herbs and a squeeze of lemon. My favorite is grilled vegetables. Coat them with olive oil, add a little salt and pepper and let them cook about 5-6 minutes a side.
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A recent survey noted that 65% of men in households are the primary grillers. In our family, my husband is the grill king. He seems to enjoy grilling and has a special relationship with HIS grill. I just love grilled foods, especially artichokes, and I enjoy being the sous chef , if only for a short time.

Rising Student Loan Debt Linked to Housing Crisis?

Saturday, June 30th, 2012

As Alex reported 6/30/2012 on Property Source Radio.
Realtor.org – Daily Real Estate News | Tues June 26, 2012
News Sponsored by WNYopenhouse.com
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The housing slump is one of the culprits behind rising student loan debt, suggests an analysis of government data by the National Association of Home Builders.

The study reveals a shift in borrowing for higher education costs due to the housing crisis and the drop in home prices. As home prices dropped across the nation, home owners found there was less availability of home equity loans, which traditionally were often used by parents to finance higher education costs of their children. As such, more students had to take out student loans on their own, the study notes.

“The rising student loan debt problem is another consequence of the housing downturn,” says Barry Rutenberg, NAHB chairman. “As more and more parents face tighter budget restraints as a result of lower home values, this is forcing an increasing number of students to take out loans for tuition, essentially shifting some of the burden of paying for college from parents to students.”

Outstanding student loan debt has risen 47.9 percent or by $293 million since the third quarter of 2008.

“The sharp rise in student loans is due to the end of accessible home equity loans, as a result of home price declines preceding, during and after the Great Recession,” the report notes.

The report continues that “this issue is once again a reminder of the importance of housing wealth for the middle class. When that wealth declines, or otherwise becomes inaccessible (as is the case with home equity loans), it causes significant changes for the economy as a whole.”

View the report at the NAHB web site.

Source: “The Connection Between Student Loans and Housing,” The National Association of Home Builders (June 2012)