Real Estate Market

The increases in FHA mortgage guarantee costs that took effect on April 1 have many home buyers asking, "What do these increases mean to me when I get an FHA loan?"  Megan Booth and Rob Freedman with Realtor.tv break down the facts in this informative video.

Lets take a look at March figures.

Chicago Real Estate Sales – Detached Single Homes

The number of Chicago detached single homes selling in March 2012 decreased 3% from March 2011. The average selling price decreased by 2% and the average market time decreased 19%. Neighborhoods included in these statistics are: Avondale, Albany Park, Edgewater, Irving Park, Lakeview, Lincoln Park, Lincoln Square, Logan Square, Loop, Near North Side, Near South Side, Near West Side, North Park, North Center, Rogers Park, Uptown, West Ridge, West Town.
 

Chicago Real Estate Sales – Attached Single Homes

The number of Chicago attached single homes selling in March 2012 increased by 19% from March 2011. The average selling price decreased 7% and the average market time decreased by 1%.
 

Chicago Real Estate Sales – 2-4 Flats

The number of Chicago flats selling in March 2012 increased 15% from March 2011. The average selling price decreased 5% from March 2011 prices and the average market time increased by  20 days.
 

Today's consumers are under mounting financial pressure at every turn, and are forced to be much smarter in buying decisions, especially for major investments. One big investment every consumer needs protected is their house and property. This is especially true as warmer weather arrives. From simple preparations like servicing your heating and cooling system units (HVAC), to protecting yourself against unexpected home emergency repairs, many homeowners often overlook simple measures that can end up having costly consequences.

"One challenge of home ownership is that the potential for expensive repairs is always out there," says Tom Rusin, CEO of HomeServe USA, a provider of emergency repair service plans. "While unexpected problems can never be completely avoided, there are measures homeowners can take to protect their home now, and avoid costly repairs later."

Here are five tips:

Service your air conditioner:

Spring is the perfect time to get your air conditioner into shape before the hot summer months. To ensure your system runs as efficiently as possible, replace your air filters at the beginning of the season, and ideally every 90 days. This will keep your air cleaner, reduce energy consumption and extend the overall life of your HVAC system. Another simple step is to clear away any debris from your outdoor AC unit, which will improve airflow around the unit. Also, make sure your vents are open and not blocked by furniture or any other items.

Check out your heating system:

Spring is the perfect time to make sure your furnace is in full working order before a winter emergency occurs. Consider heating system coverage for emergency repairs not generally covered by home insurance.

Curb unanticipated financial responsibilities with extra protection:

Homeowners insure their homes to protect it from unanticipated home emergencies - such as broken water service lines - as well as for peace of mind. However, homeowners often don't know where their utility company's responsibility ends and theirs begins. Many are surprised to find out they are typically responsible for repairs to the pipes and wires in and around their home (as the local utility is usually not responsible for these emergency repairs).

Look closely at your home insurance policy and check if your utility offers an emergency service contract. If not, consider signing up for an emergency repair service plan that covers gaps in your home insurance policy, which can range from exterior water and gas lines to plumbing and drainage systems to complete electrical and heating/cooling configurations. HomeServe USA offers affordable emergency repair service plans, starting around $5 a month, to cover plumbing, electrical and HVAC systems not typically covered by homeowner's insurance, and will dispatch a local, licensed and insured contractor to make the necessary repairs.

Ensure your home is properly ventilated:

Excess moisture in homes can tarnish expensive fixtures, cause paint to peel and accumulate in wall cavities which can lead to the growth of mold and mildew. To avoid moisture build-up, make sure basements and crawl spaces are free of water infiltration. Check that dehumidifiers or kitchen and bath ventilation fans are working properly to remove excess moisture. If not, a small investment today could not only save you money in the long run, but also provide cleaner indoor living environment for you and your family.

Prevent excessive energy bills:

Random air infiltration through gaps and cracks is a leading cause of energy loss in homes, accounting for 25 to 40 percent of energy loss in most residential structures, according to the U.S. Department of Energy (DOE). Air sealing and insulation is one of the most cost-effective ways to get the highest return on investment for the home, since the monthly amount saved on heating and cooling bills often exceeds the cost for these improvements. Home improvement retailers offer a variety of inexpensive (less than $15) insulating foam sealants that homeowners can apply to gaps and cracks around the home to literally "seal" against unwanted airflow to reduce energy bills.

As you start slathering on sunscreen this season, think about not only protecting your skin, but protecting your home with simple fixes that can keep it as healthy as can be.(ARA)

Who would have thought getting dirt under your fingernails would ever be considered one of the hottest trends going? According to Doug Jimerson, garden core director for Better Homes and Gardens, "growing your own fruits, veggies and herbs is something Americans are doing in record numbers this season."

"It's cheaper to grow your own produce than buy it - one $3 tomato plant will yield pounds of produce all season long," Jimerson says. "Plus, the produce you grow just tastes better than even your grocer's best. And while it's healthy to eat and grow your own, gardening is rapidly gaining popularity as a great way to get some exercise, relieve stress and spend healthful family bonding time."

Eating foods grown in your own backyard means you won't be contributing to the carbon footprint left behind by the "food miles" it takes to bring imported produce to your local grocers - so you're helping the environment, too.

Growing vegetables is easier than you think. Plan it properly, and you can enjoy a healthy, homegrown harvest from the fruits of your labor - without having to spend hours tending it.

Gardening 101

Sunshine is sustenance - Vegetables need at least six hours of full sun per day. The easiest thing to do is to place your garden in full sunlight. Make sure it's easily accessible for watering; if the garden is too far from your house it could get neglected. Check the last frost date in your region and wait until threat of frost is past before you begin planting.

No yard necessary - Gardening doesn't require a lot of room - although if you have the space and time to go large, go for it!. Many popular vegetables and herbs grow just fine in containers, making them a great option for those with limited space. For smaller yards, raised beds are an easy, low-maintenance option. If your garden is going right into the ground, just turn the earth with a shovel, toss out roots and rocks, mix in a soil amendment for healthy soil, and plant.

Water relief - Water regularly, but avoid doing so during the heat of the day when evaporation will diminish the effectiveness of irrigation. Water to wet the soil about 8 inches deep, but don't over-water.

Feed your food - All edible plants draw nutrients from the ground, and can quickly exhaust the soil without the help of a fertilizer. Always follow label directions.

Growing for it

Now that you've got an idea of the basics, it's time to pick your plants.

Start with transplants - seedlings are way easier to get growing than seeds, so you'll save loads of time and enjoy improved success. Fortunately, national purveyors like Bonnie Plants make it easy to find hardy, high-quality, regionally appropriate plants at your local garden retailers. Bonnie offers time-tested vegetable and herb favorites, as well as new varieties, in eco-friendly, biodegradable pots that not only reduce plastic waste in landfills, they reduce transplant shock. Simply tear off the bottom of the pot and set the whole thing - plant in pot - directly into the ground. Be sure to pay close attention to plant tags, they're packed with facts and details to help you successfully grow your plants.

Here are some favorites to consider for your garden:

• Tomatoes - The most popular, most-grown vegetable, tomatoes are always a best bet. Disease-resistant Bonnie Original is a hardy, flavorful addition to any backyard garden. For containers or small spots, try Sweet n' Neat, a prolific plant that sets fruit in grape-like clusters.

• Basil - The perfect complement to tomatoes, basil works well in gardens and containers. New Greek Columnar Basil is particularly bountiful, as it grows high, leafs out densely and rarely flowers. The flavor blends traditional basil with spicy overtones of cinnamon, allspice and cloves.

• Bell peppers - Versatile, flavorful and nutritious, bell peppers are great raw snacks and make an awesome ingredient for a variety of cuisines. Harvest peppers when they're green or red when the vitamin levels are higher.

• Eggplant - Black Beauty is the quintessential eggplant with a deep purple, glossy skin and meaty texture, and thrives in hot weather. White-skinned varieties like Cloud Nine offer a sweeter, bitter-free flesh.

• Mints - Easy-to-grow mints are available in traditional spearmint and peppermint and in more exotic flavors like Bonnie Plant's new apple mint, orange mint and even chocolate mint, which has a flavor that echoes the classic Girl Scout cookie.

Hefty harvest - The general rule: If it looks good enough to eat, it probably is. With many vegetables, the more you pick, the more the plant will produce. For more gardening tips, ideas and advice, visit www.bonnieplants.com. (ARA)