Daily Archives: June 1, 2011
U.S. real estate prices see slight monthly rise in April | Inman News for the Katonah NY real estate market
U.S. real estate prices see slight monthly rise in April
CoreLogic: Home-price index down 33.8% from peak
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U.S. home prices rose slightly on a monthly basis in April, the first such increase since the expiration of a federal homebuyer tax credit program in mid-2010, according to data aggregator CoreLogic.
A home-price index compiled by CoreLogic showed national home prices in April up 0.7 percent month-to-month. On a year-over-year basis, however, prices were down 7.5 percent — an even steeper annual decline than in March, when the index fell a revised 6.8 percent.
When distressed sales — short sales and REOs (bank-owned homes) — are excluded from the index, however, the index showed home prices declining year-over-year by 0.5 percent in April and 1.6 percent in March.
“While the economic recovery is still fragile and one data point is not a trend, the month-over-month increase based on April sales activity is a positive sign. This is the first month-over-month increase in the HPI since government support for homebuying was removed, and it provides reason for cautious optimism,” said Mark Fleming, chief economist for CoreLogic, in a statement.
Since the index’s April 2006 peak, home prices have fallen 33.8 percent, CoreLogic said.
The five states with the greatest depreciation in April were Idaho (-15.2 percent), Michigan (-13.2 percent), Arizona (-11.9 percent), Rhode Island (-11.6 percent) and Nevada (-11.4 percent).
The five states with the highest appreciation were North Dakota (+4.2 percent), Vermont (+3.4 percent), New York (+3.2 percent), Washington, D.C. (+2.2 percent) and Mississippi (+1.4 percent).
Of the 100 most-populous metro areas tracked by CoreLogic, 92 saw year-over-year index declines in April.
Change in CoreLogicHPI, 10 largest markets
Market Change from a year ago Excluding distressed Chicago-Joliet-Naperville, Ill. -11.1% -2.8% Phoenix-Mesa-Glendale, Ariz. -11% -5.9% Atlanta-Sandy Springs-Marietta, Ga. -9.1% -5.6% Los Angeles-Long Beach-Glendale, Calif. -5.1% 2.8% Riverside-San Bernardino-Ontario, Calif. -4.1% -1.4% Houston-Sugar Land-Baytown, Texas -3.4% 6.4% Philadelphia, Pa. -1.6% 1.7% Dallas-Plano-Irving, Texas -1.4% 4.9% Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va. -0.3% 5.5% New York-White Plains-Wayne, N.Y.-N.J. 2% 3.1% Source: CoreL
Armonk NY Homes asks if the Rise Of Online Video Will Break The Internet | Armonk NY real estate for sale
Chappaqua NY homes tries to outsmart the smart home | Inman News for Chappaqua NY real estate
Outsmarting the smart home
How to find your place in an automated house
Prepare to have your brain explode.
At least, that’s the warning I’m giving my family.
Unless you are currently in sixth grade or younger, you soon will not be able to perform basic life functions in your own home. I’m serious! Want to make a pot of coffee? Well, forget about it. Because if you misplaced your phone or have 20/65 vision and can’t quite see your mobile touch-screen device, you are out of luck.
Light switches just aren’t good enough for people these days. Nope. Apparently, we require access to the International Space Station in order to turn on the fan in the bathroom. “Attention: Cosmonauts! How ’bout a little help down here!”
That’s what we have to look forward to in tomorrow’s Android-powered home. The techies may read this column and scoff at my future frustration. But they do not suffer the same aggravations that normal people encounter on a regular basis. For example, my dad recently built his “dream home.”
Yeah, mom and dad were going to retire in comfort in a state-of-the-art custom home. It was beyond beautiful. The views were amazing. The woodwork and masonry beyond compare. And the electronics! The home boasted a fully functional integrated system — the top of the line.
Each room had its own light settings for morning, afternoon and evening, played preprogrammed musical selections, and had a remote-access security system. The blinds (among other things) were also on a timed system. In theory, you would arrive home from vacation (or a long day at work) to a warm home, comfortably lit, with soft music playing and a tub filling with lavender-scented bathwater. Hmmm. That sounds nice.
In reality, mom would be cooking dinner and watching a movie when all of a sudden all the lights in the house would turn off, the drapes would go up and instead of Robert De Niro on screen she’d be watching static in an eerily dark house.
She’d shout something unrepeatable about the automated system, and stumble her way across the room to pound on the in-wall panel. Dad would be in the other room trying to read a book: “Doggonit, Charlotte! Why did you turn all the lights out again?”
Eventually, the two of them tired of reprogramming their home and longed for the days when one light switch turned on one light and a simple VCR turned the tape inside a simple VHS cassette. The future was too complicated.
But today, just a few short years later, everyone has smartphones, and we use them incessantly. It’s hard to have a conversation at a restaurant without also surfing the Web and playing Jewels.
And if you can do that, you can have a smart home, right? So in this era of the app, problems like the ones my parents bumped into presumably won’t occur again because it will be unnecessary to learn complex programs; all we will have to do is download an application, and we do that every day, anyway.
Back to those techies: They have a lot of great things to look forward to. They will whip out their phone at a restaurant and show their friends how they can start the dishwasher, get the dryer going, and set their coffeemaker on auto-drip — all from Applebee’s.
Of course, first they had to call an actual person to go over to their place and put dishes in the dishwasher, load the dryer with the wet clothes, and make sure a carafe sits safely under the coffee grounds.
As for my family, as much as we love our smartphones, we’ll probably all stick with the good ol’ fashioned, labor-intensive light switches. That being said, I am thinking of installing The Clapper (remember those “Clap on! Clap off!” ads?) in my bedroom. Getting up to turn off the light is such a drag.
Alisha Alway Braatz is a buyer’s broker for Coldwell Banker Advantage One Properties in Eugene, Ore., and a real estate humorist.
Rules for fixing overlooked defects | Inman News in Bedford NY
Rules for fixing overlooked defects
Don’t let home inspector off the hook for repair charges
DEAR BARRY: Last week, we replaced our old, leaky water heater, but there was a huge additional expense. The plumber said our exhaust flue didn’t meet code. It was installed through a basement window and did not extend up to the roof. We paid an additional $600 to install a proper flue pipe. When we bought the home two years ago, our home inspector did not report this problem. If he had, we could have requested repair by the sellers. Is our home inspector liable for the cost of this repair? –George
DEAR GEORGE: A flue pipe should not terminate at an openable window because this allows exhaust gases to enter the home. A defect of this kind should be obvious to any qualified home inspector. You may have a valid claim against your inspector, but there are a few complications that are likely to cloud the issue.
First is the $600 charge to extend the flue pipe above the roof line or to another approved location. Unless there were extraordinary circumstances to prevent a simple flue pipe installation, it is difficult to justify this many dollars for a routine installation. Your home inspector may claim that you were overcharged for the repair, and he might be correct in that assertion.
Second is the fact that you repaired the problem before notifying your home inspector. Many home inspection contracts contain a requirement that you contact your inspector before making repairs. This allows the inspector to evaluate the situation and propose a solution.
In some cases, alleged defects, when reinspected, turn out not to be problems at all. At other times, repairs of actual defects can be made for less money than proposed by a plumber or other contractor. Making repairs without first notifying the home inspector may have violated the home inspection contract, and the inspector may be legally absolved of liability.
Regardless of extenuating circumstances, it appears likely that your inspector did overlook a significant and apparent defect. All you can do at this point is to contact the inspector, arrange to meet at your home, and try to negotiate a reasonable settlement.
DEAR BARRY: Most of the outlets in my garage are equipped with ground-fault devices to prevent electric shock, but there are none at the laundry outlets. I discovered this recently and wondered why it was not disclosed by my home inspector when I bought the house. Was this an oversight, and should I call the inspector? –Darrell
DEAR DARRELL: Ground-fault circuit interrupters (GFCI) are required for most, but not all, garage outlets. Exceptions to the requirement include outlets that are intended for dedicated appliances, such as washers and dryers. This is why your laundry outlets do not have ground-fault protection, and it is why your home inspector made no mention of it in the inspection report.
Most people have seen GFCI outlets but know little about them. They are the outlets, often seen in bathrooms, with two built-in buttons: one to test and one to reset the breaker. GFCI outlets are not required for laundry fixtures because old GFCI outlets would trip unnecessarily when appliance motors turned on. With newer GFCI outlets, this is no longer a problem.
To write to Barry Stone, please visit him on the Web at www.housedetective.com.
Contact Barry Stone: Letter to the Editor
Copyright 2011 Barry StoneAll rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.






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