Monday, November 8, 2010

Homeownership and Stable Communities Go Hand-in-Hand

Homeownership and Stable Communities Go Hand-in-Hand

 Homeowners are more active in their communities, benefit from improved education opportunities, and report higher levels of self-esteem and happiness when compared to renters, according to leading research. A new report from the National Association of Realtors®, Social Benefits of Homeownership and Stable Housing, explores the impact of stable housing and the positive social outcomes resulting from homeownership.

“Homeownership is in investment in your future – home is where we make memories, build our lives and feel comfortable and secure,” said Vicki Cox Golder, owner of Vicki L. Cox Real Estate in Tucson, Ariz. “Owning a home has long-standing government support in this country because homeownership benefits individuals and families, strengthens our communities and is integral to our nation’s economy.”

NAR’s study identifies research from government, industry and academia that identified the relationship between homeownership and stable communities. Homeowners move far less frequently than renters, and therefore are embedded into the same neighborhood and community for longer. This allows for social cohesion, ultimately resulting in social benefits and stronger communities.

“Realtors® care as much about keeping families in their homes as they do about helping them find the home of their dreams,” said Golder. “Social benefits do not arise solely from ownership, but also from greater housing stability and social ties associated with less frequent moves among homeowners.”

Several research studies cited in the NAR report have found that homeownership has a significant impact on educational achievement. For instance, the decision by teenage students to stay in school is higher for those raised by parents who are homeowners compared to those whose parents are renters. Access to economic and educational opportunities are also more prevalent in neighborhoods with high rates of homeownership. Furthermore, studies have shown that changing schools frequently due to moving impacts negatively a child’s educational outcome.

Civic participation is another social benefit resulting from homeownership and stable housing. Homeowners are proven to be more politically active and are more likely to vote in local elections compared to renters. In addition, homeowners have a higher membership in voluntary organizations.

Studies have shown that homeowners are more likely to believe that they can do things as well as anyone else, and they self-report higher ratings on their physical health. “The research shows that homeowners report higher self-esteem and happiness than renters, resulting in better overall health, both physically and psychologically,” said Golder.

When it comes to property, homeowners have more invested both financially and emotionally. Property crimes affect homeowners directly, but nonviolent property crimes can impact the property values of the entire neighborhood. Therefore, homeowners are more motivated to deter crime by forming and implementing voluntary crime prevention programs. In addition, it is easier for homeowners to recognize perpetrators in stable neighborhoods because of extensive social ties. Unstable neighborhoods often display social disorganization which can lead to higher levels of crime.

Along with protecting their home and neighborhood from crime, homeowners spend more time and money maintaining their home than renters. Neighbors also influence other homeowners to improve their property, resulting in a better overall quality of the community.

“Homeownership certainly contributes to positive social outcomes, but those outcomes are truly a result of stable housing communities,” said Golder. “With strong social ties and a cohesive community, homeowners can enjoy not only the long-term financial benefit of owning a home, but also a more satisfying life – which is what’s really at the heart of the American Dream.”

To download a copy of the entire report, visit www.realtor.org/research/research/reportsbuysell.

Source: The National Association of Realtors®

It Pays to Support Responsible Homeownership




Denver Metro Area Real Estate News from Eileen Kitko

November 8th, 2010 10:06 AM


Support programs, such as housing counseling, that help people
become responsible homeowners. Image: Antenna/Getty Images

Doing your part to help other Americans gain a foothold on the homeownership ladder doesn’t just help them. You’ll benefit both your community and your own pocketbook.

When people move from renting to owning a home, they’re more likely to vote, get involved in community groups, and care about their home’s appearance. The children of homeowners do 23% better in school, according to a 2001 study by Harvard’s Joint Center for Housing Studies. And a steady flow of first-time homebuyers makes it easier to sell your own starter home when you’re ready to move up to a larger property.

Make housing affordable
One way to make more people homeowners is to make housing more affordable. All U.S. homeowners benefit from policies like the mortgage interest tax deduction. Many use government-backed mortgage insurance to lower loan costs. A variety of public and private programs offer low-cost loans and downpayment assistance to help Americans become homeowners. Help prospective homeowners save a downpayment by donating to sites like EARN, a non-profit that uses donations to match funds saved by low-wage earners.

Reduce foreclosures and preserve home value
Foreclosure matters because it hurts all homeowners. In 2009, foreclosures will cause property values to decline an average of $7,200 for about 70 million homeowners, resulting in a $502 billion loss in home equity, the Center for Responsible Lending estimates. Each foreclosure within 1/8th of a mile of your home lowers your property value about 0.744 percent, CRL says.

“One of the sad lessons of the [recent past] is that we aren’t alone,” says Nicolas P. Retsinas, director of the JCHS. “It’s clear that if the family next door loses their home to foreclosure, my home’s value will go down. Therefore, I have a vested interest in ensuring that people become homeowners and that homeownership is sustained over time.”

One effective tool against foreclosure is educating homeowners before they buy. The Joint Center found that loan delinquencies fell 13% with homeownership counseling. People who go through pre-purchase and post-purchase counseling and learn about mortgages, family budgeting, and home maintenance are less apt to face foreclosure, says Michael Berti, senior homeownership specialist at the Rural Ulster Preservation Company in Kingston, N.Y.

Support groups that help homeowners
One way to do your part to help other homeowners is by donating your time or money to some of the many non-profits that promote responsible homeownership.

Habitat for Humanity partners with new homeowners to build affordable housing. Habitat homes aren’t free. Homeowners work hundreds of hours, get homeownership counseling, and make mortgage payments.

The United Way supports many local programs that build affordable housing, help families build financial assets, and teach financial management skills. If you donate to United Way, you can direct your contribution to those causes.

HomeownershipSF, in San Francisco, tries to intervene where people facing foreclosure have the resources to catch up on their loan. If “the home can’t be saved, we try to get a first-time homebuyer we’ve worked with into the home as quickly as possible to stabilize the neighborhood,” says Interim Director Christi Baker.

Government programs support homeownership
Supporting federal state, and local programs that help create homeowners is another way you can expand responsible and affordable homeownership.

The U.S. Department of Veterans Affairs and the Federal Housing Authority provide mortgage loan insurance or guarantees that let people buy homes with only a small downpayment and borrow at lower interest rates.

Government-sponsored groups Fannie Mae, Freddie Mac, and government-run Ginnie Mae buy and securitize mortgage loans made by banks, freeing up money, so banks can keep lending.

Sites like Govtrack and RollCall help you stay on top of laws that affect homeowners.

HUD’s HOME program provides financial support to state and local housing authorities to build and renovate for-sale and rental housing for lower-income Americans.

In U.S. cities of all sizes, the HOPE VI program has funded plans to replace deteriorating public housing with new low-rise, mixed-income homes. These developments sell most homes at market rates, but designate a percentage for use by low-income homeowners.

How to get involved
You can support responsible homeownership in many ways. Retired construction contractors France and Bill Moriarity travel the country in their RV managing Habitat construction projects. “We like it because it’s a hand up, not a hand out,” France Moriarity says. Habitat volunteers don’t need construction skills and can sign up to work as little as one day at a time. Groups can volunteer together.




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Posted by Eileen Barker Kitko on November 8th, 2010 10:06 AM

Landscaping in the Fall? Really?
October 1st, 2010 6:30 AM
It's one of the best times of year to do it! Here's Why:

WEATHER
There is plenty of good weather remaining throughout Denver.
Our weather is extremely mild. Remember the string
of 90 degree days recently? Landscapes can easily be
constructed through December in many years simply
because the ground doesn't freeze until January.
Realistically, it's even better to construct in the fall than the
early Spring.

LOWER PRICING
Landscape companies can offer fall
discounts as an incentive to keep the schedule full.
End-of-season pricing from material
suppliers means deep discounts for you. Price increases
are abundant at suppliers and nurseries in the Spring.

YOUR LANDSCAPE IS READY WHEN YOU ARE
Designing and building your landscape now means that not
only can you enjoy it during our warm winter days you will
also get a jump start on enjoying you new yard in the early
spring. Our spring schedules tend to ?ll up early. You want
have to wait if you build it now.
Fall is a good time for planting --
especially trees. Trees have
a chance to begin to get their
roots established and can get a
jump on next season. Remember,
winter watering is important
even for established landscapes
during periods of dry winter,
according to Bruce Wilhelm of
The Wilhelm Group.




This plan, designed in Fall, 2009, by the Wilhelm Group,
included a 900sf flagstone patio with casual and formal
seating, a custom-designed firepit and water feature,
outdoor kitchen and a beautiful glass fireplace

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Posted by Eileen Barker Kitko on October 1st, 2010 6:30 AM

Is the Worst Over?
September 9th, 2010 12:02 AM
Cisneros: Worst Over for Colorado Housing Market: Colorado's housing market will continue to face challenges, but the worst appears to be over, according to national housing expert Henry Cisneros, a former Cabinet secretary who was in Denver on Tuesday, August 24th.

http://denver.bizjournals.com/denver/stories/2010/08/23/daily29.html

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Posted by Eileen Barker Kitko on September 9th, 2010 12:02 AM

House Not Selling?
August 1st, 2010 5:01 AM
Reasons why homes don't sell






If you have had your home on the market for several months and haven’t seen much activity or any offers, chances are that one or more of the reasons below are to blame.



Your price is too high


No doubt about it, the most common reason for a home not selling is that the asking price has been set too high. The reasons for setting your price too high to begin with are many. Ranging from over enthusiastic listing agents to unrealistic seller expectations. Regardless of the reason though, if you’ve priced your home too high, you’ve set yourself up for a number of obstacles to selling your home. Even if you do get an offer for the overly high asking price, the deal may fall apart before closing because the buyer may have problems financing at too high a price. Look at other homes for sale, ones as similar and as close to yours as possible. If they are going for less than you are asking, you may be priced too high. The fact is, your home is competing against those other homes, and what buyers are willing to pay is what will determine final sales prices.




The condition of your home

There is a lot of competition out there to sell homes. Your home has to compete against other similar homes for sale, as well as competing against shiny brand new homes. The more you can do to make your home look appealing to a buyer, the better your chances for a quick sale. Look at your home with a critical eye – put yourself in the buyers position. A buyer doesn’t want to have to do anything except move in. Your best “bang for the buck” in improving the condition of your home are paint and flooring. Make sure that all of the paint is in great condition, both inside and out. Repainting doesn’t cost too much, and will usually make the biggest impact on buyers. Make sure all of the flooring looks good too. You may want to consider putting in new carpet. Again, it’s not that expensive but it sure does make an impact on buyers coming to look at your home.





Location, location, location

It’s the oldest cliché in the world, but it’s true. When it comes to real estate, it’s all about location! When it comes to homes, things like how good the schools are, crime rates, visual appeal of the neighborhood and noise or the smell of pollution can all effect how desirable the location is. If you’re in a bad location, a good real estate agent may help to minimize some of the impact by suggesting improvements to the house. But the only really reliable way to overcome a bad location is with a lower price. Simply put, an identical home in a bad location won’t sell for as much as the same home in a better location.




Your marketing campaign is out of steam

The best listing agents all use an aggressive marketing plan to market their listings. If your listing agent isn’t making sure your home can be found easily on the internet, isn’t actively touting his or her listings to other agents in the area, isn’t running ads in the local newspapers and real estate publications, then it might be time to change agents. The best agents might even run radio or television ads for their listings. If all your agent has done is put a sign in your front yard and add your home to the local MLS, then that agent isn’t coming close to doing all that can be done to effectively market your home.




The market is slow

You’ll hear it described as a slow market, or a buyers market, or maybe a cold market. But it all means the same thing. That home sales in the local area, or market, are slow. That there are too many homes for sale and not enough active buyers. There are several things you can do to combat a slow market. The most effective strategy is to sell at a lower price. Buyers are expecting to find bargains during a slow market. You can also help yourself by offering to pay some concessions to help a buyer that might not have a lot of cash. The ultimate way to beat a slow market is to simply wait it out. But that’s not always an option for many sellers.




Your home isn’t easily accessible

To get your home sold quickly, it’s important that other agents in the area show it to as many potential buyers as possible. When a busy agent is compiling a list of homes to show a buyer, the agent will naturally tend to show those houses that are easiest to gain access to first. Many homes on the market have “lock boxes” on them. The lock box is a device which holds a key to the home, that only qualified local agents can access. Homes that are listed as being “lock box, no appointment needed” will get shown more often than homes listed as “agent has key, call for appointment”. If at all possible, you should let your agent put a lock box on your home for easier showing. If not, you should do anything else you can to make it as convenient as possible for agents to show your home.




You have an agent nobody likes

Sounds almost silly, but it’s very true. If your listing agent isn’t liked or respected by other agents in your area, it could slow down the sale of your home. When an agent prepares to show properties to prospective buyers, the agent begins by talking to the buyer to find out what kind of home they are looking for. Then the agent searches the local MLS and other sources for homes that fit the buyer. If there are a number of good matches to choose from, and one of them has been listed by an agent that is hard to get along with, or arrogant, or has otherwise made himself unpopular, well… It’s just human nature to tend to skip over someone you don’t like.

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Posted by Eileen Barker Kitko on August 1st, 2010 5:01 AM

Littleton Hot Moms Fashion Show at Details Boutique Was a Hit
June 6th, 2010 2:14 AM
FASHION SHOW PHOTOS NOW available at Albert Aguirre's site: http://www.serisphotography.com/projects/details/

Rebecca and I were pleased to partner with Details Boutique in Downtown Littleton to sponsor and present the first annual Littleton Hot Moms Fashion Show on May 7. It is our intention to partner with local Littleton businesses to provide useful and fun community events throughout the year. For our first event of 2010, we partnered with Peggy Cooper, owner of Details Boutique at 2359 W. Main St.--it was a great success and a lot of fun! About 50 partygoers attended and enjoyed viewing the Spring fashions modeled by real Littleton moms. Jodie Nicholls, Denise Ziegler and Kelli Milliman (all of the Ridgewood neighborhood) were joined by Christy Whetzel of Southbridge Knolls, Julie Maloy of Mountain Rangeview, Shannon Neary of Highland Vista and Mandy Gonzales of Roxborough in modeling the latest in Spring Fashions chosen from the Details unique line of designers. Nikki Carpenter, Peggy Cooper's daughter was MC for the event, Albert Aguirre was the photographer. Many attendees won fabulous products and gift cards to Details in the raffles. We love Details Boutique and thank them for the opportunity to throw a fabulous party and event! And, for all of you who attended this event, a big thank you! We look forward to the 2011 Spring, Littleton Hot Moms Fashion Show at Details. Watch for it! Also keep your eyes peeled for our next event where we partner with a local garden retailer to provide you with fall gardening tips, give away some great prizes and have informative tips for preparing your garden and landscape for winter.

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Posted by Eileen Barker Kitko on June 6th, 2010 2:14 AM

LITTLETON EVENTS - Eileen Kitko and Rebecca Davidson Sponsors
June 6th, 2010 2:13 AM
LITTLETON HOT MOMS FASHION SHOW

sponsored by Eileen Kitko, Equity Colorado and Rebecca Davidson, W.J. Bradley Capital Corp.

photobook available at http://www.serisphotography.com/projects/details/

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Posted by Eileen Barker Kitko on June 6th, 2010 2:13 AM