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Alan Anand Singh, Own A Home, Inc.
117-05 115 Ave S., Ozone Park NY 11420
1-800-861-4757


Visit http://www.ownahome.com

March 2009 Activity

When Mom told you to turn out the lights, she was thinking of saving energy dollars, not rolling blackouts and bankrupt utility companies. Rarely have Moms words of wisdom been as fitting as they are now and not just in California. Electricity rates are going up everywhere.

• Wait until you can fill up your dishwasher before running it. And if you have a heated-dry option, switch it off. Prop open the door a bit after the cycle to air dry your load.
• If you have an electric cooktop, turn the burners off a few minutes before the allotted cooking time. The heating element will stay hot long enough to finish the cooking without using more electricity.

• Its obvious, but true: Turn off lights that are not being used. Consider installing timers or photo cells on some lights. And instead of constantly nagging the kids, try occupancy sensors that turn on and off automatically when someone enters or leaves a room.
• Rather than brightly lighting an entire room, focus the light where you need it. For example, use fluorescent under-cabinet lighting for kitchen sinks and countertops
• Consider dimmer switches and three-way lamps. These provide low light levels when bright lights are not necessary.
• Use linear fluorescent and energy-efficient compact fluorescent lamps (CFLs) in fixtures throughout your home to provide high-quality and high-efficiency lighting. Fluorescent lamps are much more efficient than incandescent bulbs and last six to ten times longer. Although fluorescent and compact fluorescent lamps are more expensive than incandescent bulbs, they pay for themselves by saving energy over their lifetime.

Many consumers consider selling their home directly but eventually turn to REALTORS®. Smart home sellers realize they need the expertise in pricing their home, making connections with REALTORS® working with buyers, arranging and staffing open houses, and coordinating with other professionals in the sales process.

Only about half of all real estate agents are REALTORS® -- the top half, in our not-so-humble opinion. REALTORS® work independently, for small agencies, or for large brokerages. They help people buy and sell residential or commercial properties, vacation homes, and land; they conduct appraisals; they operate in the United States and in other countries; some specialize in auctions; and others are buyer's representatives.

REALTORS® Are Experts

Eighty-five percent of sellers were assisted by a real estate agent when selling their home, according to NAR's 2007 Profile of Home Buyers and Sellers, and 79 percent of buyers purchased their home through a real estate agent or broker.

Why Use a REALTOR®?
Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Here are 12 ways a REALTOR® will make your home buying or selling experience better.

REALTORS® Are Part of the Community

REALTORS® Work to End Housing Discrimination - during April, which is Fair Housing Month, and all year long. REALTORS® are active members of their communities.

REALTORS® Protect You

Only REALTORS® follow a Code of Ethics
To be a member of NAR and a REALTOR®, a real estate agent must abide by a set of professional principles and serve clients fairly.

Learn how the Code of Ethics affects everyday real estate practices

This year will surely be remembered as historic with the recent inauguration of President Barack Obama and for what we hope will be a banner year legislatively for Long Island, New York City and the entire state.

President Obama has already promised to work with Congress to decrease the number of foreclosures by helping to lower mortgage payments for responsible homeowners. Foreclosure prevention and increasing the number of jobs are critical to housing and economic recovery. Bringing back buyers to the market will reduce inventory and stabilize home prices.

Proposed relief programs are already being discussed at various levels of government. Senator Charles Schumer, a member of the Senate Finance Committee, is pushing for federal grants for schools as part of the economic stimulus package working its way through Congress. The package may include $6.4 billion for New York schools to help financially strapped school districts avoid increasing property taxes or cutting programs. Schumer said the stimulus package may also include aid to states, funding for infrastructure projects and tax cuts of about $1,000 aimed at middle-class taxpayers. The package could land on President Barack Obama’s desk by mid February. In response to this proposal, Gov. David Paterson said if the federal money materializes, he might not have to raise taxes and fees as part of his $121 billion state budget proposal.

The Housing Forecast for January 2009 summarizes the movement of interest rates and the housing market for last month. Click on the link below to view the Housing Forecast Summary.

Housing Forecast summary

The Economic Outlook includes  the overall economic climate of the country for January 20009. Click on the link below to view the Economic Forecast Summary for 2009.

Economic Forecast summary 

LAS VEGAS – Some home features don’t stay popular forever. More homes are inching away from incorporating the following home features, according to recent consumer preference surveys.

1. Fireplaces: The fireplace skyrocketed in importance in homes in 1991 with 62 percent of new homes having one or more. But the number has steadily been decreasing ever since. In 2007, the number dropped to 51 percent.

2. Carpet: While 54 percent of homes still have carpet floors, the number is decreasing and hardwood floors are taking the place. Vinyl and ceramic tile flooring also are being bypassed more by buyers. Seventeen percent of new homes contain hardwood floors throughout the entire house.

3. Living room: These once-decorative centerpieces of homes are slowly vanishing from newer homes. Thirty-four percent of consumers say they’re willing to buy a home without a living room.

4. Desks in the kitchen: These desks were once looked at as great storage areas but they’re often too small and quickly become clutter spaces in a home, said Gayle Butler, editor in chief of Better Homes and Gardens. Instead, more consumers say they prefer larger desks in or near the family room—equipped with a messaging center—where they can keep an eye on their kids as they work on the computer.

5. Skylights: The little windows that allow natural light to seep into a home from above are falling out of style. Only 10 percent of new homes will include them this year, a continuing downward spiral for skylights.

6. Upscale kitchen finishes: Granite countertops are slowly becoming less desirable among buyers who are now moving toward affordable, low-maintenance laminate countertops—which tend to last longer and now come in various styles.

WASHINGTON, January 29, 2009

The U.S. House of Representatives has taken a significant step toward economic recovery in passing H.R. 1, The American Recovery and Reinvestment Act of 2009.

“On behalf of NAR and its 1.2 million members, I’d like to thank Chairman Frank, D-Mass., Chairman Rangel, D-N.Y., and the House of Representatives for passing legislation that will help create market stability,” said National Association of Realtors^® President Charles McMillan. “However, our work is far from finished and much more needs to be done in the coming days and weeks.”

Late last year, NAR presented Congress with its core principles for stabilizing the housing market to launch an economic recovery. In the current legislation, NAR strongly supports the provisions to reinstate the 2008 FHA, Fannie Mae and Freddie Mac loan limit increases through 2009. NAR also strongly supports eliminating the repayment requirement on the first-time home buyer tax credit. “This is critical to stimulating home sales and shrinking the housing inventory, which will in turn help stabilize home values,” McMillan said.

Although Realtors^® support these provisions, a number of enhancements are needed to make them more effective. In a letter sent to Congress earlier this week, NAR encouraged Congress to make the loan limit increases permanent so that secure, affordable, safe financing is available for American families regardless of where they live. NAR is also pressing to expand the tax credit to all home buyers and extend the expiration date to December 31, 2009.

Other provisions in the bill will help communities across the country, including the expansion of the tax-exempt housing bonds, increased funding for rural housing loan programs, additional funding for neighborhood stabilization activities, more grants for low-income housing construction and rehabilitation, and energy efficiency incentives for housing.

“We think this bill is a great first step in helping our economy on the road to recovery. It is also important that Congress and the new administration refocus the use of Troubled Asset Relief Program dollars to add liquidity to the mortgage market and make mortgage loans and other loans more available to America’s working families,” said McMillan.

NAR will continue to emphasize the need for a mortgage interest-rate buydown and improved foreclosure mitigation programs as key components to improved stability in the housing market. NAR is also asking Congress to concentrate efforts on strengthening the commercial real estate market to protect the nation’s economy.

“Real estate has always led this nation out of economic downturns,” McMillan said. “A renewed, revitalized and robust housing market is essential to generating commerce and helping families build wealth and stability. We are eager to see this happen and look forward to working with the Obama administration and Congress to quickly implement H.R. 1 and enact other stimulus efforts for residential and commercial markets.”

The two rooms that consistently make the biggest impression on buyers are—without a doubt—kitchens and bathrooms. Even in today's uncertain economic times, home owners and buyers are willing to spend on upgrades to these two essential rooms. Their goal: Create that polished high-end look they've seen in magazines and on TV.

"We're seeing more of a 'save and splurge' mentality in kitchen and bath remodels," says Linda Eggerss, editor of Kitchen and Bath Ideas magazine. "Home owners may give up the granite countertops to get the island, or vice versa, but they still want a certain look."

The growing importance of the kitchen as a living space, not just as a cooking and eating space, has added to a desire for quality, she adds.

 We spoke with Eggerss and a host of other industry experts, designers, manufacturers, and stagers to give you a preview of what's hot today and what will be hot tomorrow.

With this knowledge, you can help sellers spruce up their kitchens and bathrooms to increase the likelihood of a sale. On the buy side, knowing the new styles and how to incorporate them into a dated room will open buyers' eyes to the possibilities.

Light and Bright

 In good housing markets and bad, a cheerful kitchen will get buyers past a multitude of other issues, which may explain why white is still the kitchen color of choice for many, according to Eggerss. "It's a classic and always looks good," she says.

 In California's wine country, designer Jan Kepler, principal of Kepler Design Group in San Luis Obispo, Calif., also favors white. "Beach houses along the central coasts are often done in fresh white Shaker style cabinets and white soapstone or marble countertops. On the other side of the foothills, in wine country, home owners tend to prefer a more rustic look with soft glazed creamy whites, cherry and recycled copper accents, and antiqued granite countertops," she says.

 For accents, many designers prefer strong saturated colors as well as warm grays. A little bit of shimmer also is a good thing. Coppery metallics and glass tiles in a rainbow of hues are a perfect way to add "that pop of color" in a kitchen, says Kathleen Garvey of Enhanced Interiors & Home Staging in Fort Myers, Fla.

 Interestingly, one place that bright colors are popular is the laundry room, say Marc Hottenroth, industrial design leader for GE Appliances in Louisville, Ky. "Maybe it's because the laundry is a work area where people need a lift, or maybe it's because you can shut the door and not see the color all the time," he says.

 Lighting—natural and manmade—"is huge" in kitchens and even more essential in bathrooms, says Christina Trauthwein, editor in chief of K+BB Magazine. Baths, she says, are notorious for bad lighting. Ideally, bathroom lighting should come from both above and the side to prevent shadows.

 In kitchens and baths, manufacturers and designers are incorporating energy-efficient LED lighting under countertops, around glass doors, and in cabinet shelving for illumination and ambiance, especially at night, says Duval Acker of Kitchen by Design in Mt. Pleasant, S.C. Another easy and dramatic way to add extra illumination: Place inexpensive fixtures above cabinets that don't reach all the way to the ceiling, suggests Barry Tuttle, manager of Absolute Kitchen and Bath in Surry, Maine.

 In showers and baths, chromotherapy lighting lets bathers use different colors of light to set the mood or enhance their energy, says Trauthwein.

Easy Lighting Upgrade

 Add dimmers to all lighting so that you can adjust the light to the job and the mood.

 Storage Galore

 Let's face it, no matter how big the kitchen and bath get, there's always a need for more storage space.

 In the kitchen, a walk-in pantry is the amenity buyers drool over. If a home owner can steal a little space from a neighboring laundry room or eating area, a big pantry is a sure way to wow buyers, says Julie Loehner, president of Kitchens by Julie in Cary, Ill.

 Kitchen islands are also turning into storage centers as they grow in size and take on more irregular shapes. Built-in wine racks, undercounter refrigerator drawers, and appliance storage all add to the island's versatility, says Loehner.

 In bathrooms, it's all about built-ins and decluttering, a technique any good home stager will tell you increases buyer appeal. Electrical outlets inside drawers keep electric shavers out of sight, and wall-mounted faucets with single-lever controls take up less visual space, says Lynn Schrage, marketing manager of the Kohler Store in Chicago.

 And if you thought refrigerators were just for the kitchen, think again. Refrigerated drawers and cabinets in the bathroom can store cosmetics, medicines, and even some orange juice for a quick morning treat. Warming drawers are equally as popular, keeping towels toasty without the bulk of a heated towel rack, says Trauthwein.

 Just as kitchens are becoming more of a living space, bathrooms are expanding their role. Some bathrooms are now accommodating exercise equipment, reading nooks, ventless fireplaces, and multiple TVs, says Lenora Campos, manager of public relations for fixture manufacturer Toto USA.

Easy STORAGE Upgrade

 Add roll-out shelves in kitchen cabinets and drawers in bath vanities for easy access and better organization.

Custom is King

 "People still want to invest in their homes, and we're seeing anything standard and common—from oak cabinets to side-by-side vanity bowls—start to recede in popularity," says Phyllis Markussen, chair of the Department of Family Studies and Interior Design at the University of Nebraska in Kearney. Even for mid-range homes, adding a few luxury touches to a kitchen or bath is common, says Tuttle.

 Islands, in particular, are getting the feel of fine furniture with columns, toe boards, and moldings. Using different surfaces and finishes on counters or in the wall cabinets and the island are other affordable ways to create a custom feel in the kitchen. "As kitchens become larger and more integrated into the living space, people don't want a monolithic feel," says Trauthwein.

 Some of the same high-quality furniture elements—often in the form of custom hutches—can add a custom feel to a bath. "People often chose these additions as a way to personalize a room, but having one special item in a kitchen or bath also attracts new buyers," says Tuttle.

 Panels that blend refrigerators and dishwashers into cabinetry are another way to create a sense of quality. You can also get the look and feel of customization by building out the cabinetry around the refrigerators so that it doesn't stick out into the room, suggests Eggerss.

 Easy CUSTOMIZING Upgrade

 Add stylish pendant or chandelier lighting over an island or eat-in kitchen area.

 Trends with Staying Power

 Although it's helpful to know the latest trends, remember that design choices in kitchens and baths depend on both personal taste and how long home owners intend to stay in a home, says Garvey. Those who plan to sell in five years or less, should focus on personalized touches using paint, backsplashes, and accessories, she advises.

 Still, many of today's trends will almost certainly persist among the next generation of home buyers, says Yaprak Savut, an assistant professor of interior design program at East Carolina University, in Greenville, N.C.

 The university conducted a survey of working adults between 18 and 31 years old and found that most are willing to pay as much as 20 percent more for appliances that can be customized with features like removable fronts and trivection ovens that simultaneously use thermal heat, convection, and microwave cooking. 

 Most young adults also said they wanted natural woods and stone in their kitchens, and 76 percent said they're at least somewhat interested in having a greener kitchen. And since they prefer to cook for themselves and entertain at home, they want kitchens to be even bigger. For your sellers, it may be time to knock out that wall.

5 Kitchen and Bath Features Buyers Want Most

• 36% Separate shower enclosure in master bath
• 31% Eat-in kitchen
• 24% High-end appliances
• 23% Granite countertops
• 21% Kitchen island

Source: NAR 2007 Profile of Buyers' Home Feature Preferences

REALTOR® magazine's House & Home feature this month is brought to you by Lowe's, a REALTOR Benefits® partner with a 60-year heritage in the home improvement industry. With more than 1,625 stores nationwide, Lowe's carries the world's leading brands, including more than 40,000 in-stock products and hundreds of thousands of products available by special order.

*Mariwyn Evans is the commercial real estate editor for REALTOR® Magazine.

• Turn to the government. The biggest source of loans these days is the Federal Housing Administration (FHA) and the Veterans Administration (VA). These programs accept borrowers with lower credit scores and allow them to put down as little as 3.5 percent of the purchase price.

• Document, document, document. Borrowers will need bank statements, brokerage statements, W-2 forms and tax returns.

• Boost credit scores. Borrowers should avoid having more than one-third of their maximum borrowing capacity outstanding on one credit card. If necessary, rotate the debt among several cards.

• Work your connections. Comparison shopping is easy online, but if your customer has an established relationship with a local bank, suggest they try that lender first.

• A REALTOR can help set a realistic competitive price for the seller and figure the approximate net proceeds for the sale based on types of loans, the seller’s outstanding loan balance and closing costs.

• A REALTOR is familiar with the local home loan market, knows if seller assistance is advisable and can help a seller decide the type of financing that’s best to expedite the sale.

• REALTORS ensure potential buyers are “qualified” as to their affordable price range prior to showing them a seller’s home. 

• A REALTOR can list the seller’s home in a Multiple Listing Service (MLS) and can work with other REALTORS to assure the seller a wider range of prospective buyers.

• A REALTOR will advise prospects of all aspects and conditions of the seller’s home, even faults the seller doesn’t intend to fix. This will protect the seller from later objections.

• A REALTOR handles most all aspects of the selling process including: phone inquiries, making appointments, open houses and showings along with potential buyer follow-ups.

• A REALTOR is a skilled salesperson who knows how to merchandise a seller’s home efficiently. A REALTOR knows how to add sales appeal to a seller’s home at a low to moderate cost.

• If a REALTOR is the seller’s agent, he/she maintains objectivity in responding to criticisms by the buyer and in presenting offers and counter-offers until an agreement is reached.

• A REALTOR will familiarize the seller with the closing procedures in advance and often attend the event to explain any questions.

              Is your house ready to put on the market? Here’s a handy checklist.

Source: New York State Association of REALTORS