JUNE RESIDENTIAL HIGHLIGHTS

The Vinton Housing Inventory rose 7% in June due.  Some of the increase was due to several new homes in the Lewis Russell Estates coming on the market.  The number of pending sales fell 6%, but this was due to a lower inventory of home on the Market in April and May. Closed sales dropped slightly while average Days On Market dropped from 55 in 2004 to 42 in 2005. The 82 active residential listings at the end of June would last 1.8 months at the current rate of sales. 

YEAR-TO-DATE TRENDS

So far, the year has generated 5% fewer new listings than it had at this point in 2004. Closed sales, on the other hand, are up 9.01%.

APPRECIATION

The average sales price in 2005 has been $158,787 and was on the market 51 days. 

The average sale price continues to climb. 

The National Housing Bubble

Is the current hot housing market which exists in most of the country a bubble ready to burst or a long term situation? Right now there is much debate over where the national housing market is going in both the short term and long term. We all know that much of the reason for the hot housing market is the continuation of record low mortgage interest rates over a long time period. This has allowed many new buyers into the market, allowed many homeowners to upgrade or downsize current housing and also has fueled the second home market. Other factors play into the equation though. First is the baby boomers are now in the top of their earning years and this has helped fuel the second home market. Secondly, investors have gone into Real Estate in huge numbers as this makes more sense than the stock and bond market in many areas for long term gains and security. Thirdly, the timing of the low mortgage interest rates with the two previously mentioned factors has created the bubble.

Most experts agree that we will certainly see a slow down if mortgage interest rates rise. The question remains though as to how much this will effect what we look at now as greatly inflated property values in many markets. Many experts don’t feel that values will see a significant decline due to the lack of available property, the large number of immigrants and a demand that is being fueled by investors and larger numbers of buyers in upper income brackets.

One thing that you can count on is that what you see in the housing market today will change by tomorrow and change again the next day. It will be interesting to see just how much the market does change over the next six months and beyond.

Helpful Tips that Everyone Should Know

Use empty toilet paper roll to store appliance cords. It keeps them neat and you can write on the roll what appliance it belongs to.

For icy door steps in freezing temperatures: get warm water and put Dawn dishwashing liquid in it. Pour it all over the steps. They won’t refreeze.

Crayon marks on walls? This worked wonderfully! A damp rag, dipped in baking soda. Comes off with little effort.

Permanent marker on appliances/counter tops (like store receipt BLUE!) rubbing alcohol on paper towel.

Whenever you purchase a box of SOS Pads, take a pair of scissors and cut each pad into halves. It will prevent you from having to throw away rusted, unused and smelly pads, It’s much more economical. And now a box of SOS pads will last you indefinitely! In fact, you should notice that the scissors get sharpened this way too!

Blood stains on clothes? Not to worry! Just pour a little hydrogen peroxide on a cloth and proceed to wipe off every drop of blood. Works every time!

Use vertical strokes when washing windows outside and horizontal for inside windows. This way you can tell which side has the streaks.Straight vinegar will get outside windows really clean. Don’t wash windows on a sunny day. They will dry too quickly and will probably streak.

Spray a bit of perfume on the light bulb in any room to create a lovely light scent in each room when the light is turned on.

Place fabric softener sheets in dresser drawers and your clothes will smell freshly washed for weeks to come. You can also do this with towels and linen.

Candles will last a lot longer if placed in the freezer for at least 3 hours prior to burning.

To clean artificial flowers, pour some salt into a paper bag and add the flowers. Shake vigorously as the salt will absorb all the dust and dirt and leave your artificial flowers looking like new! Works like a charm! To easily remove burned-on food from your skillet, simply add a drop or two of dish soap and enough water to cover bottom of pan and bring to a boil on stovetop.

Spray your TUPPERWARE with nonstick cooking spray before pouring in tomato-based sauces and there won’t be any stains.

Wrap celery in aluminum foil when putting in the refrigerator and it will keep for weeks.

When boiling corn on the cob, add a pinch of sugar to help bring out the corn’s natural sweetness.

Cure for headaches: Take a lime, cut it in half and rub it on your forehead. The throbbing will go away.

Don’t throw out all that left-over wine: Freeze into ice cubes for future use in casseroles and sauces.

To get rid of itch from mosquito bites, try applying soap on the area and you will experience instant relief.

Ants, ants, ants everywhere .... Well, they are said to never cross a chalk line. So get your chalk out and draw a line on the floor or wherever ants tend to march. See for yourself.

Use air freshener to clean mirrors. It does a good job and better still it leaves a lovely smell to the shine.

When you get a splinter, reach for the scotch tape before resorting to tweezers or a needle. Simply put the scotch tape over the splinter, then pull it off. Scotch tape removes most splinters painlessly and easily.

Now look what you can do with Alka Seltzer. Clean a toilet. Drop in two Alka Seltzer tablets, wait twenty minutes, brush and flush. The citric acid and effervescent action clean vitreous.

Clean a vase. To remove a stain from the bottom of a glass vase or cruet, fill with water and drop in two Alka Seltzer tablets.

To polish jewelry: Drop two Alka Seltzer tablets into a glass of water and immerse the jewelry for two minutes.

Clean a thermos bottle: Fill the bottle with water, drop in four Alka Seltzer tablets and let soak for an hour (or longer, if necessary).

Unclog a drain: Clear the sink drain by dropping three Alka Seltzer tablets down the drain followed by a cup of Heinz white vinegar. Wait a few minutes, then run the hot water.