6 Ways to Help Your Best Friend(s) Survive the Dog Days of Summer

July is National Dog House Repairs Month.  Let’s all be sure we are giving our beloved pets the very best care possible.  This may not include a custom designed $30,000 over-the-top structure, but it should offer your pets the following:

1,  At least three solid sides, a roof and raised, ventilated floor with bedding

2.  Make sure your dog’s house is in the shade and placed somewhere where you pet feels comfortable and safe

3.  The house must be waterproofed and insulated.

4.  It must be large enough to adequately and comfortably contain your dog.  Inside the dog house, your dog should have plenty of room to stretch out, stand up, turn around, and lie down comfortably.  

5.  Always provide clean, fresh water – no matter how long he/she will be outside. 

6.  Make sure to keep the area around the dog house safe and clean and that your dog house is designed so that it can be thoroughly cleaned as well.

On June 1, 2012, a new ordinance went into effect in the Town of Cary that prohibits residents from leaving a dog tethered (chained to a stationary object) without remaining outside and supervising your dog.  Alternatives to tethering are to bring your pet inside, fence in your yard, or construct a pen.  If you do leave him/her outside, you must provide shelter & fresh water.  There are some restrictions to pen size that are required under this ordinance -- visit their website for more information:  http://www.townofcary.org/Departments/police/Services_Bureau/Animal_Control.htm

Many local home & pet stores offer great pre-made homes that are the perfect solution for those of us who are not-so-handy with a hammer & nails.  Remember -- an outdoor dog house is not a good substitute for allowing your dog to spend time indoors with his or her family.  Dogs are pack animals, and are happiest when allowed to spend lots of time with the people they love.

Want a custom-designed structure for your dog?  Kitty need a 'Catio'? Give me a call!  My Lizzie's List of great service providers is at your service.

May Triangle Real Estate Numbers -- Two Words:

Yeah, Baby! 

Here are the numbers in a nutshell   (Help! I’m in a nutshell!)

• Home sales in the Triangle area were up 25.7 percent to 2,335. 
• Pending Sales were up 35.2 percent to 2,605
• Inventory levels shrank 27.7 percent to 13,985 units
• Median Sales Price increased 2.2 percent to $194,200.  For comparison, in May, 2010 the median sales price was $186,500.
• Average Sales Price increased 3.9 percent to $234,263.  In May, 2010 the average price was $223,895.  These are notable upturns!

• Number of new Listings increased 3.3 percent to 3,607.
• Days on Market was down 9.0 percent to 115 days.
• Percent of original list price received is at 94.5 percent.  This indicates that, though this is an improvement over the previous 92.8 percent, sellers need to become more realistic on the true market value of their home if they want to sell.

On a personal level, I have been experiencing competitive bid situations and modest price gains in some neighborhoods.  Homes are tending to sell more quickly and for closer to asking price.  There are fewer distressed properties.

Because the number of new homes coming on the market is low, searches are turning up fewer results than in recent years, which means more demand for the available properties.  The supply-demand balance stabilized as Months Supply of Inventory was down 33.5 percent to 8.0 months.  Remember we talked about that last month?  If not, go to the archive on the right for more info.

The general economic news is still not rosy.  May jobs report was disappointing and there is growing concern about the pace of domestic growth.  Investors had an unsettling month in May, prompting some to hunt for better returns in the housing market.  This, in turn, also contributes to an upturn in prices.

However, couple the historic mortgage loan rates with a market that is just now beginning to turn and this is still the best time in the history of our country to buy.  Have you done the rent vs buy worksheet?  Ask me about it. 

Questions, comments, concerns?  I love a dialogue!

Source:  Triangle Multiple Listing Serivces

Time for a Loan or Refinance?

There’s good, there’s bad, and there’s ugly.

And the Jobs Report for May was just plain ugly, with not one good data point within the release. Here are the highlights (lowlights??)  What does this mean for home loan rates?

On Friday, the Labor Department reported that 69,000 jobs were created in May, with 82,000 private sector job gains offsetting government jobs losses. This was a HUGE downside miss - basically half of what was expected. Adding to the pain were downward revisions to the previous two months, which erased another 49,000 jobs from what was previously reported. And if that wasn't enough, the unemployment rate ticked up to 8.2%, when expectations were for it to hold steady.

The Labor Force Participation Rate (LFPR) actually improved by .2% to 63.8, but it is still hovering at a 31-year low. The LFPR is fairly simple: If you are 16 years of age and not in the military and you have a job, then you are participating. If you don't have a job, you are not participating - that is how the ratio is measured. The big picture is how do we as a country reverse this significantly negative trend? We must have more people participating or working to help pay for those who are not.

So what does all of this mean for home loan rates?  Typically, weak economic news causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve. And last week, several weak economic reports and the ongoing drama in Europe helped home loan rates reach record best levels. With inflation moderating, Stocks getting killed, and the US Dollar very strong thanks to the drama in Europe, the Fed has room for more stimulus (known as Quantitative Easing, or QE3 - not to be confused with the magnificent boat). But it’s important to note that with home loan rates already at historic lows, another round of easing probably won’t cause home loan rates to move much lower.

Still waiting??  Each interest rate move up (even if a fraction of a point) adds thousands of dollars to the total price of your loan.  I have a quick “cheat sheet” that can help you figure out if now is the time to take action.


The bottom line is that home loan rates remain near historic lows and now continues to be a great time to purchase or refinance a home. Let me know if I or one of my mortgage experts can answer questions for you.