U.S. home prices continue to slide

Prices in 20 major metropolitan areas fell nearly 19 percent, year-over-year, in the first quarter, according to the S&P/Case-Shiller Home Price Index released on Tuesday. That’s the biggest quarterly decline in the index’s 21-year history.

“Declines in residential real estate continued at a steady pace in March,” said David M. Blitzer, chairman of the S&P’s Index Committee.

The monthly numbers showed 15 of the composite’s 20 major metropolitan areas posted price declines of more than 10 percent from a year earlier, with the Sun Belt continuing to be hit hardest.

North Carolina's only metro in the index, Charlotte, posted a 9.3 percent decline in home values, year-over-year – the fifth smallest drop reported. Denver had the healthiest market of the 20 cities, with a 5.5 percent drop in home prices from March 2008. Dallas, Texas, ranked second (down 5.6 percent). Boston was third (down 8 percent), followed by Cleveland (down 9 percent).

Phoenix was the weakest market, with a price drop of 36 percent, followed by Las Vegas (down 31.2 percent) and San Francisco (down 30.1 percent).

The index says that as of March, average home prices across the United States were at similar levels to what they were in the fourth quarter of 2002. From the peak in the second quarter of 2006, average home prices are down 32.2 percent nationally.

The S&P/Case-Shiller Home Price Index tracks sales prices of typical single-family homes in leading metropolitan areas.

Miami reported a 3.5 percent decline from February’s numbers and saw a 28.7 percent year-over-year drop.

Only Phoenix (36 percent), San Francisco (30.1 percent) and Las Vegas (31.2 percent) saw higher year-over-year declines.

http://triad.bizjournals.com/triad/stories/2009/05/25/daily10.html?surround=etf

Gov. Perdue Announces Plan to Create Green Jobs

Governor Bev Perdue this week announced her energy reform package to attract businesses, create jobs and promote a strong and sustainable green economy in North Carolina. She made the announcement at the SAS Solar Farm in Cary, which provides solar-generated power to Progress Energy.

"Developing our green economy is a cornerstone ofmy vision for North Carolina's economic future," Gov. Perdue said. "Creating green jobs and businesses is a key part of my JobsNOW initiative, and the energy reforms I am implementing will lay the foundation for North Carolina to lead the nation in green energy."

Gov. Perdue's energy plan refocuses state energy policymaking, makes strategic investments in North Carolina's green economy and increases green-collar workforce development.

"The state that gets green right will own the next 50 years," Gov. Perdue said. "I intend for North Carolina to be that state."

Governor Perdue's energy plan includes:

-Relocating the State Energy Office and state weatherization program to the Department of Commerce

-Reinvigorating the Energy Policy Council

-Establishing an Energy Investment Revolving Loan Fund

-Expanding the Green Business Fund

-Growing North Carolina's green workforce

-Investing federal recovery monies for other energy efficiency and renewable energy projuects in small businesses, communities and homes across North Carolina




For more information: http://www.governor.state.nc.us/NewsItems/PressReleaseDetail.aspx?newsItemID=404

Happy Memorial Day Weekend!

As we prepare to begin the Memorial Day weekend, it is important for each of us to pause for a moment and reflect on the meaning for the day. While it can be viewed as the unofficial start of summer and a chance to enjoy a family picnic, we all should recognize Memorial Day is truly a day for remembering those who made the ultimate sacrifice to make our Nation free.

From the Revolutionary War through our current battles in Iraq and Afghanistan, brave, selfless, and devoted men and women have fought and died to protect the rights and freedoms we all enjoy every day. This is our opportunity to honor them.

Originally called Decoration Day after the Civil War, the date for remembrance was set in May, when the flowers were in full bloom, to give families a day to "decorate" the graves and markers of our country's war dead. Over time the name changed from Decoration Day to Memorial Day, but the meaning and purpose of the day has not changed.

So, as you enjoy the three-day weekend with friends and family, I ask you to remember the ideals that make our country great and those who have sacrificed to protect those ideals.

Attend one of the many memorial services across the state. Proudly display the Flag. If you see a veteran or person currently serving our Nation in the Armed Forces, tell them "thank you," because we owe a debt to them that can never fully be repaid. And say a prayer for all those currently serving our Nation in harm's way.

Happy Memorial Day and may God continue to bless North Carolina and the United States!

-written by David Young

Realtors® See Buyers Returning to Market

WASHINGTON, May 14, 2009

Historically high housing affordability and low mortgage interest rates, combined with buyer opportunities in the distressed sales market, have increased home sales in many areas of the country.

“There has never been a better time to buy,” said National Association of Realtors® Chief Economist Lawrence Yun, who presented NAR’s economic outlook today at the Economic Issues and Residential Real Estate Business Trends Forum. Yun commented on a convergence of favorable buying conditions while emphasizing how important it is for home buyers to stay within their budgets.

“Housing affordability is at an all-time high, mortgage rates are historically low, and interest rates are the lowest they’ve been since the days of Eisenhower,” said Yun.

The forum was part of the weeklong Realtors® Midyear Legislative Meetings & Trade Expo. During a national real estate summit here earlier in the week, Shaun Donovan, U.S. Secretary of the Department of Housing and Urban Development, announced that the Federal Housing Administration is going to permit its lenders to allow qualified home buyers to use the $8,000 tax credit as a downpayment.

“Now that buyers will be able to use the $8,000 tax credit as a downpayment, we should see additional buyers enter the market,” said Yun.

While he doesn’t anticipate an immediate pickup in the coming months, Yun believes early summer will be a critical indicator of how home buyers are responding to the $8,000 tax credit. “The home buying process takes time,” said Yun. “This summer will gauge the success of the first-time home buyer tax credit.”

Evidence of recovery is already demonstrated in California, where home sales are rising much faster than anticipated; some areas in the state are seeing a 70 to 80 percent increase in sales. Yun attributes this extraordinary surge to buyers who may have been sitting on the fence but are now taking advantage of the great opportunities for fear of being left out of current deals in the market.

According to Yun, many first-time buyers are attracted to deeply discounted and distressed home prices. Nationally, about half of all recent transactions have been distressed sales. Fifteen to 20 percent have been short sales and 30 to 35 percent have been foreclosures. Yun says while these statistics are unfortunate the situation along with current home buying incentives have created an impressive window of opportunity for potential home buyers.

“The stimulus and falling inventory levels will help stabilize prices,” said Yun. “My projection is home sales will be 10 to 20 percent higher the second half of this year than last year and we will come out of this recession in 2010.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.



http://www.realtor.org/press_room/news_releases/2009/05/buyers_return

DIY Household Cleaners Part 2

WHOLE HOUSE

All-Purpose Cleaner
1/2 cup borax
1 gallon hot water

Mix in pail (or use smaller amounts in a spray bottle: 1/8 cup borax to 1 quart of hot water) dissolving the borax completely; wipe clean with rag.

Floors

Wood
1/4 cup white vinegar
1 gallon warm water

Linoleum
1 cup white vinegar
2 gallons warm water

Mix in mop bucket, rinse afterwards.

Furniture Polish
1/2 cup white vinegar
1 teaspoon olive oil

Mix and apply with a clean rag to dust and polish. Reduce the olive oil if wood looks too oily.

Metal Polish

Copper and Brass
2 Tbsps salt
White vinegar

Add vinegar to salt until you've created a paste. Adding flour will reduce abrasiveness. Apply with a rag and rub clean.

Stainless Steel
Baking soda
White vinegar

Apply baking soda with a damp cloth, using the vinegar to eliminate spots.

BATHROOM

Toilet Bowl
Baking soda
White vinegar

To clean and deodorize, sprinkle toilet bowl with baking soda, add white vinegar and scrub with a toilet brush.

Tub and Tile
1/2 lemon
Borax

Dip the face of the lemon half in borax to create a hand-held scrubber for dirty areas. Rinse and dry the surface afterwards.

KITCHEN

Countertops
Marble: Mix one Tbsp castile soap with a quart of warm water, rinse well, then dry with a warm cloth.

Other surfaces: half a lemon and dip the face in baking soda to scrub off residues. Follow up by spraying with glass cleaner mix (below).

Drains
1 cup baking soda
1 cup vinegar

Add baking soda and vinegar to a pot of boiled water and pour down the drain, then flush with tap water. For more stubborn clogs, use a "snake" plumbing tool to manually remove blockage, or try suction removal with a plunger. To prevent clogs, install inexpensive mesh screen, available at home improvement and hardware stores.

Glass
1/4 cup vinegar or 1 Tbsp lemon juice
2+ cups water

Fill a clean spray bottle with water and either white vinegar or lemon juice; wipe with a rag or old newspaper.

Oven
Baking soda
Water

Sprinkle baking soda on surfaces, spray water, then let soak several hours or overnight. Rinse with water.

Stovetop and Oven Grease Remover
1/2 tsp washing soda
1/4 tsp liquid soap
2 cups hot water

Add washing soda and soap to hot water in spray bottle. Since washing soda is caustic, wear gloves.

LAUNDRY ROOM
Bleach alternative
1/2 cup hydrogen peroxide

By Paul McRandle

DIY Household Cleaners Part 1

With all of the talk about green living, I thought I would share some information concerning keeping your home clean while staying green!

The healthiest, least-toxic cleaners you can find are the ones you make yourself. They're effective too: According to a study at Virginia Tech, spraying hydrogen peroxide and vinegar right after one another is just as effective at killing germs as lung-irritating, stream-polluting chlorine bleach. Here are a few easy cleaner recipes to kick-start your Saturday chores.

EIGHT ESSENTIALS
These eight items make up the basic ingredients for nearly every do-it-yourself cleaning recipe.

Baking soda: provides grit for scrubbing and reacts with water, vinegar or lemon by fizzing, which speeds up cleaning times
Borax: disinfects, bleaches and deodorizes; very handy in laundry mixes
Distilled white vinegar: disinfects and breaks up dirt; choose white vinegar over apple cider or red vinegars, as these might stain surfaces
Hydrogen Peroxide: disinfects and bleaches
Lemons: cut grease; bottled lemon juice also works well, although you might need to use bit more to get the same results
Olive oil: picks up dirt and polishes wood; cheaper grades work well
Vegetable based (liquid castile) soap: non-petroleum all-purpose cleaners
Washing soda: stain remover, general cleaner, helps unblock pipes; should be handled with gloves due to its caustic nature. Washing soda is usually found in the laundry aisle of grocery and drug stores.

Don't forget to pick up an empty spray bottle at the hardware store, and keep those old rags and used toothbrushes for wiping up and scrubbing.

Stay tuned tomorrow for cleaning solution recipes you can make at home!

By Paul McRandle

N.C. Senate OKs plastic bag ban in Outer Banks

By The Associated Press

RALEIGH — The leader of state Senate is starting at home with a bid to end the use of plastic grocery bags.

The Senate voted 47-1 on Wednesday for a pilot program banning plastic bags in Outer Banks counties. Starting in September, shoppers in Dare, Currituck and Hyde counties could take home their purchases in 100 percent recycled paper.

Senate leader Marc Basnight of Dare County said the measure would apply only to the three counties, but Republican Sen. Tom Apodaca of Henderson County said he hopes the ban spreads statewide.

Supporters said discarded bags are especially a problem on barrier islands that are heavily visited by tourists and where litter on the limited land space is more obvious.

Home sales in Greensboro up for 3rd straight month

Tuesday, May 12, 2009

Sales of existing single-family homes in Greensboro rose in April for the third straight month, according to data prepared by Triad MLS Inc. for the Greensboro Regional Realtors Association.

A total of 439 homes were sold in Greensboro in April 2009, an increase from 357 in March but less than the 499 units sold in April 2008.

"A three-month increase heading into summer suggests more good news could be on the way, especially since mortgage interest rates remain at all-time lows," GRRA President Betty Smith stated in a news release.

The average sales price of an existing single-family home rose to $149,149 in April from $147,878 in March. The median sale price also rose to $123,900 from $121,000 in March. Both figures were lower than the April 2008 median of $135,000.

The total dollar volume for all units in April was $65,476,529, up from $52,792,512 in March. Both are lower than April 2008's total dollar volume of $81,580,361.

Homes are also selling at a brisker pace. The number of single-family homes on the market less than 30 days rose to 100. Only 68 homes moved in under 30 days in March.

http://www.news-record.com/content/2009/05/12/article/home_sales_in_greensboro_up_for_3rd_straight_month

First-time home buyers benefit from housing slump

In many markets, homes that were once prohibitive now are affordable

“I’m very glad I waited,” Kostas Kalaitzidis said about his recent decision to buy his Arizona home. “People like me are the ones buying in now.” View related photos

Pat Shannahan for msnbc.com By Jane Hodges msnbc.com contributor updated 11:59 a.m. ET, Fri., May 8, 2009 Kostas Kalaitzidis wanted to buy a home when he moved to Phoenix in 2008, but between his modest salary and the expensive market, he couldn’t swing it. What a difference a year makes. ... “I’m very glad I waited,” Kalaitzidis said. “People like me are the ones buying in now.” First-time buyers like Kalaitzidis are dominating the real estate market right now. They snapped up 53 percent of all properties sold during March 2009, up from the usual 40 percent or less, according to data from the National Association of Realtors. While America’s declining home values have wrought havoc on home sellers, owners and lenders, first-time buyers can celebrate the housing market bust, and may even help fix it. The Realtors' group expects first-timers to account for the majority of home sales through the remainder of 2009. Kalaitzidis was fortunate enough to get a new job recently and now earns about $60,000 as a local government public information officer, up from his previous income of $40,000. But salary was a small factor in his decision to purchase, he said. The bigger factor was the nosedive in prices. If his transaction closes as planned, this month he’ll become the owner of a 2,200-square-foot, contemporary home with four bedrooms and two-and-a-half bathrooms. In addition to price drops in most markets, federal tax credits for first-time homebuyers are motivating many to get off the sidelines, Realtors spokesman Walt Molony said. He estimates that tax credits could motivate as many as 300,000 fence-sitters to buy this year. The Internal Revenue Service extended $7,500 tax credits to first-time buyers last year and has raised that to $8,000 or 10 percent of the purchase price for 2009. Read entire article at: http://www.msnbc.msn.com/id/30551169/

Stimulus plan provides boost to green jobs

‘Everyone is predicting growth in this sector,’ says Obama’s ‘green adviser’

Coal companies are scrambling after federal subsidies for cleaner-coal technologies. View related photos

Charlie Riedel / AP file By Jenny Lynn Zappala msnbc.com contributor updated 6:20 p.m. ET, Tues., May 5, 2009 Environmentalists and labor advocates have contended for years that environmentally sound policies would create thousands of jobs — stockpiling arguments like firewood for the day when someone in Washington would light the match. On Feb. 17, the Obama administration tossed in $40 billion worth of matches. President Barack Obama’s $787 billion economic stimulus plan is intended to revive the economy, largely by putting people back to work. A hefty chunk of that money, $40 billion, is aimed directly at creating what the administration calls “green jobs.” “I know energy efficiency companies (and) weatherization firms are gearing up to take advantage of those recovery dollars,” said Van Jones, Obama’s special adviser for green jobs, enterprise and innovation at the White House Council on Environmental Quality. “Those dollars are moving out into states and cities. There is already a lot of activity ahead of the complete disbursement of those dollars.” Experts agree that the jobs are real, they’re nationwide and they’re multiplying. There are 750,000 to 4 million green jobs available in America, but “everyone is predicting growth in this sector,” Jones said. While some involve launching new products or companies, most green jobs are traditional jobs with a green twist. Energy efficiency, especially for building retrofitting, and renewable energy are where the most opportunities for immediate employment can be found, said Jones. “We have a Saudi Arabia of renewable energy in our country: solar, wind, smart biofuels, geothermal,” said Jones. “We know that renewable energy jobs across the country will be coming on line with more force. That includes solar energy in the Sunbelt, wind energy production in the Plains states and off our coast, smart biofuels in the Southeast and the Midwest, and geothermal everywhere.” Other hot spots to watch: Green manufacturing: using traditional manufacturing methods and factories to create new parts for green industries. Advocates believe automobile plants can be retooled to build wind turbines, solar panels and other green products. The smart grid: a coordinated, national effort to modernize the electric grid so it delivers electricity using upgraded digital technology to save energy, reduce cost and increase reliability. Green chemistry: the design of chemical products and processes that reduce or eliminate the use or generation of hazardous substances. Green chemistry is doing chemistry the way nature does chemistry. Sustainable agriculture: a way of farming that produces food indefinitely, without causing severe or irreversible damage. Sustainable green retail: retrofitting existing retail businesses to accommodate shoppers’ demands for more environmentally friendly products and services. People know there are green workers in these industries, but no one can say how many or who is counting them. Right now, it’s easier to follow the money than the head count. As in the early years of computers or HDTVs, it takes time to sort out consistent definitions and standards in this new sector, said Jones. At present, there is no national consensus on what defines a green job, which jobs count, which industries are in or who is in charge of counting. “The administration is working on getting more clarity and consistency with regard to this question,” Jones said. “ Any time there is a new development in the economy, it takes a while before there are consistent definitions and standards in that new sector. … That is going to be one of the roles of the administration.”