One good outcome of the economic recovery is that people are becoming more careful with how they spend their money. For many of us, this means acquiring new financial habits. Here are our Top Ten Tips for stretching a dollar today. The first four are good overall things to do:
1. Create a budget. Drawing up a budget may not be anyone's favorite way to pass the time, but it sure pays off when it comes to saving money. You can't cut expenses without knowing what you have coming in and how it's going out. Making a budget instantly highlights the places where you might make some cuts. Without a budget, it's hard to keep saving money over a long period of time, because you don't see where your expenses may be going up.
2. Trim your debt. Credit cards are certainly convenient. But you want to minimize what you owe, as credit cards usually carry the highest interest rates. Watch what you spend with these cards--this is where that budget comes in--and make it a rule to pay off your outstanding balances each month. This can save you big money by eliminating those monthly interest charges.
3. Spend less. Review what you spend on everything, and look for opportunities to save money. For example, check with your phone company for cheaper rates and cellular calling plans. Think about cutting out newspaper delivery or magazine subscriptions you don't really need. Bring coffee to work in a thermos. Use the public library instead of buying books and renting movies. These things all add up--and the more you look for opportunities to save, the more you'll uncover.
4. Save more. Get into the habit of regularly putting money away each week or each month. It doesn't matter how small the amount, you can always increase it once you find yourself with more on hand from your other money saving efforts. Saving itself motivates you to keep at it, as you watch your nest egg grow. You might want to have a regular amount deducted from your paycheck and deposited directly into your savings account. Many people find this a painless way to quickly build up cash assets.
These next six tips give you some great specifics:
5. Buy in bulk. Plan meals in advance so you can take advantage of bulk savings. Cook in bulk so you have leftovers you can re-heat quickly when you're in a hurry instead of using more expensive convenience foods. Buy fresh ingredients and generics for any prepared foods you need. But make sure what you buy in bulk will be used before it goes bad. Throwing food away doesn't save you money.
6. Compare places to shop. Don't assume big box superstores have the best prices. Check out farmer's markets where buying direct from the producer can save money. Bulk buying can also work well here, letting you save on staples like corn, potatoes and rice. Local shops and smaller markets can also run specials that offer outstanding value--you just have to watch for ads and signs in windows.
7. Check sales carefully. Many "huge" mark downs are just creative marketing ploys--the items aren't selling at the lowest price out there. Try to check out "sale" prices from a range of different sources. Especially with high ticket items, make sure the price you're paying isn't lower somewhere else.
8. Eat in. Have your beverages at home too. A take out cup of coffee can cost twenty times what it does to make at home. So think before you buy a soda or coffee or grab that fast food you don't really need. Have something more nutritious at home and save money. Enjoy that nice meal out, of course, but that's a special event, not an impulse purchase.
9. Consider buying used. Cars on average lose a third of their value in the first two years, so buying a car that's twenty-four months old can save big money. Many items can be found "as good as new" in consignment shops, thrift shops and on the internet. The list is extensive: clothes, electronics, kitchen appliances, pots and pans, toys, gardening tools, musical instruments, outdoor sheds, to name a few. And you not only save money, you're also preventing perfectly useful items from packing our landfills.
10. Reduce your consumption. In addition to buying used items, think about using fewer things overall. If we could all consume less, we'd create less waste, use less energy AND save money. Turn down the thermostat and turn off lights around the house. Don't waste food. Don't use more shampoo, detergent and household cleaners than you need to get the job done. You'll be good to your wallet while being good to our planet.
Tuesday, May 10, 2011
Trendgraphix Market Report, Puget Sound Market Facts & Trends
Number of Homes For Sale vs. Sold vs. Pended (Apr. 2010 - Apr. 2011)
Average Price per SQFT (Apr. 2010 - Apr. 2011)
Avg CDOM & SP/Orig LP % (Apr. 2010 - Apr. 2011)
Average Price of For Sale and Sold (Apr. 2010 - Apr. 2011)
Months of Inventory Based on Closed Sales (Apr. 2010 - Apr. 2011)
Average Price per SQFT (Apr. 2010 - Apr. 2011)
Avg CDOM & SP/Orig LP % (Apr. 2010 - Apr. 2011)
Average Price of For Sale and Sold (Apr. 2010 - Apr. 2011)
Months of Inventory Based on Closed Sales (Apr. 2010 - Apr. 2011)
11 Tips for "Going Green" in 2011
An up-and-coming green-living blogger whose goal is help others "be the best green they can be" marked the New Year by posting 11 tips for going green in 2011.
Lynn Stone, founder of SmilingGreenMom.com who aspires to own an eco-friendly log cabin, boasts 3,000 monthly visitors to her year-old blog, with more fans added each month. She credits the idea to the changes her family made in search of more natural treatments for her son’s severe eczema. As she sought alternatives to chemicals and additives, she began sharing her tips.
Stone's site continues to evolve, but currently includes sections on product reviews, healthy recipes, raising green kids, health and wellness, coupons, and archives featuring experts and their beauty, fitness and nutrition advice.
The "Smiling Green Mom's" 11 Tips for Going Green in 2011
1. Composting: Building a compost pile is an easy way to add many beneficial ingredients to the soil while reducing garbage volume. It also benefits the community by reducing the nearly 25 percent of compostable landfill waste, according the Environmental Protection Agency (EPA).
2. Recycle paper and electronics: Anything from paper and plastics to metals and electronics can be recycled. Doing so can preserve resources, the amount of landfill space being used and energy use. The EPA estimates that only 15-20 percent of e-waste is recycled. The remainder goes directly into landfills and incinerators, causing dangerous heavy metals and toxins to accumulate, along with serious environmental risks. For more info on recycling your electronics, see http://www.digitaltips.org/green/default.asp (searchable by zip code) and http://www.terracycle.net/, which provides free waste collection programs for hard to recycle materials that are then turned into green products
3. Go Plastic Free: Eliminate plastics by switching to reusable whenever possible. Start by using reusable stainless steel water bottles and carrying cloth grocery bags anytime you are shopping.
4. Plant a garden: Even with limited outdoor space, a garden can produce a wide variety of nutritious foods. If space is very limited, consider a container garden or small herb garden to enhance your culinary experience.
5. Laundry: Whenever doing laundry, make sure it is a full load and wash clothes in cold water using safe non-toxic laundry soap. Hang clothes to dry.
6. Support local farmers and eat in season: Most food in grocery stores has been picked in the fields, sent to distribution centers, and then shipped thousands of miles before ever hitting store shelves. In contrast, when you purchase from local farmers, you can put a face with your food, and know your food has been picked within a day or two of purchasing. Buying fresh local food has many other advantages including reduced vehicle pollution, little or no and packaging. It may also be organic and pesticide-free. (Editor’s note: Visit LocalHarvest.org to find farmers' markets, family farms, and other sources of sustainably grown food around the state, http://www.localharvest.org/search.jsp?st=51&ty=-1&nm=)
7. Unplug and upgrade appliances and electronics: Unplug electronics and appliances when not needed or in use. Replace broken products with new energy efficient models that have an Energy Star label. Sponsored by the Department of Energy and the EPA, the Energy Star label program denotes compliance with specified energy efficiency requirements. Products with this label offer substantial savings and now include major appliances, office equipment, lighting, home electronics, and more.
8. Turn it off! Turn the water off while brushing teeth and turn off lights every time you leave the room. Consider purchasing low-flow showerheads, faucet aerators and energy efficient CFL or LED light bulbs.
9. Use eco-friendly cleaning products: With just a few common household items, you can make your own cleaning products as needed. (Search the web for recipes.) Homemade cleaning products using ingredients such as vinegar, baking soda, lemon and tea tree oil can save money, time and the packaging required for store-bought brands. Toxic-free homemade cleaners are also safer and healthier.
10. Never purchase paper towels or napkins again: Instead, use old washcloths cut into smaller squares, old socks for dusting, old t-shirts cut up for cleaning and reusable cloth napkins and hand-towels.
11. Borrow or Buy Used: Borrow your books, music and movies from your local library to save money while cutting down on resources needed to manufacture new. Set up online accounts with EBay, freecycle.org or shop thrift stores and garage sales when looking for anything from clothing to furniture.
Lynn Stone, founder of SmilingGreenMom.com who aspires to own an eco-friendly log cabin, boasts 3,000 monthly visitors to her year-old blog, with more fans added each month. She credits the idea to the changes her family made in search of more natural treatments for her son’s severe eczema. As she sought alternatives to chemicals and additives, she began sharing her tips.
Stone's site continues to evolve, but currently includes sections on product reviews, healthy recipes, raising green kids, health and wellness, coupons, and archives featuring experts and their beauty, fitness and nutrition advice.
The "Smiling Green Mom's" 11 Tips for Going Green in 2011
1. Composting: Building a compost pile is an easy way to add many beneficial ingredients to the soil while reducing garbage volume. It also benefits the community by reducing the nearly 25 percent of compostable landfill waste, according the Environmental Protection Agency (EPA).
2. Recycle paper and electronics: Anything from paper and plastics to metals and electronics can be recycled. Doing so can preserve resources, the amount of landfill space being used and energy use. The EPA estimates that only 15-20 percent of e-waste is recycled. The remainder goes directly into landfills and incinerators, causing dangerous heavy metals and toxins to accumulate, along with serious environmental risks. For more info on recycling your electronics, see http://www.digitaltips.org/green/default.asp (searchable by zip code) and http://www.terracycle.net/, which provides free waste collection programs for hard to recycle materials that are then turned into green products
3. Go Plastic Free: Eliminate plastics by switching to reusable whenever possible. Start by using reusable stainless steel water bottles and carrying cloth grocery bags anytime you are shopping.
4. Plant a garden: Even with limited outdoor space, a garden can produce a wide variety of nutritious foods. If space is very limited, consider a container garden or small herb garden to enhance your culinary experience.
5. Laundry: Whenever doing laundry, make sure it is a full load and wash clothes in cold water using safe non-toxic laundry soap. Hang clothes to dry.
6. Support local farmers and eat in season: Most food in grocery stores has been picked in the fields, sent to distribution centers, and then shipped thousands of miles before ever hitting store shelves. In contrast, when you purchase from local farmers, you can put a face with your food, and know your food has been picked within a day or two of purchasing. Buying fresh local food has many other advantages including reduced vehicle pollution, little or no and packaging. It may also be organic and pesticide-free. (Editor’s note: Visit LocalHarvest.org to find farmers' markets, family farms, and other sources of sustainably grown food around the state, http://www.localharvest.org/search.jsp?st=51&ty=-1&nm=)
7. Unplug and upgrade appliances and electronics: Unplug electronics and appliances when not needed or in use. Replace broken products with new energy efficient models that have an Energy Star label. Sponsored by the Department of Energy and the EPA, the Energy Star label program denotes compliance with specified energy efficiency requirements. Products with this label offer substantial savings and now include major appliances, office equipment, lighting, home electronics, and more.
8. Turn it off! Turn the water off while brushing teeth and turn off lights every time you leave the room. Consider purchasing low-flow showerheads, faucet aerators and energy efficient CFL or LED light bulbs.
9. Use eco-friendly cleaning products: With just a few common household items, you can make your own cleaning products as needed. (Search the web for recipes.) Homemade cleaning products using ingredients such as vinegar, baking soda, lemon and tea tree oil can save money, time and the packaging required for store-bought brands. Toxic-free homemade cleaners are also safer and healthier.
10. Never purchase paper towels or napkins again: Instead, use old washcloths cut into smaller squares, old socks for dusting, old t-shirts cut up for cleaning and reusable cloth napkins and hand-towels.
11. Borrow or Buy Used: Borrow your books, music and movies from your local library to save money while cutting down on resources needed to manufacture new. Set up online accounts with EBay, freecycle.org or shop thrift stores and garage sales when looking for anything from clothing to furniture.
Housing market "warming" with multiple offers in some areas
Home sellers around Washington state are starting to see something that had all but vanished in recent months: multiple offers. Several directors of Northwest Multiple Listing Service noted they are encountering more bidding wars in certain neighborhoods and price ranges, even though the latest figures show fewer sales and lower prices than a year ago. Shrinking inventory is spurring activity, with some brokers reporting a "shortage of good listings" and "signs of normality."
Northwest MLS members reported 7,154 pending sales during April, a 24 percent drop from a year ago when buyers were scrambling to take advantage of a federal tax credit that expired April 30, 2010. Going back two years, pending sales rose by a modest 3.4 percent; when compared to the same month in 2008, last month's pending sales (mutually accepted offers) jumped 15.2 percent.
"With healthy sales activity over the last several months, a shortage of homes coming on the market and low foreclosure activity, the stage has been set for a multiple offer market," observed J. Lennox Scott, chairman and CEO of John L. Scott Real Estate. Scott believes buyer confidence around job centers is back, noting one office had multiple offer situations on 82 percent of recent transactions in North Seattle. Northwest MLS directors in King County, along with representatives from Whatcom and Kitsap counties, also commented on the uptick in multiple offers.
The new report from Northwest MLS shows members in the 21 counties it serves added 10,083 new listings during April, down 20 percent from the same month a year ago. Through the first four months of 2011, nearly 11,000 fewer new listings have been added to inventory when compared to the cumulative total for the same period a year ago, a drop of 23.5 percent. Total inventory is down nearly 13 percent from a year ago.
Fewer buyers are making low-ball offers and sellers are being more proactive about pricing their homes to be competitive in today's environment. Both buyers and sellers are beginning to get the message of today's market, which is ‘be realistic'.
Brokers reported 4,581 closed sales during the month, of which 3,994 were single family homes. That's a drop of about 12.6 percent from the year-ago figure of 5,243 closings. The median price on the 4,581 completed sales for April was $237,000, a decline of 9.2 percent from the year-ago median price of $261,000. In King County, prices are down about 4.6 percent, from $340,000 to $324,500. The dips reflect a significant number of foreclosed homes and short sales that are in the mix.
An analysis by Windermere Real Estate shows distressed properties accounted for about 35 percent of home sales in King County in April, up from 21 percent a year ago. Bank owned properties account for much of the growth, according to Windermere's research. The analysis shows the median price of bank-owned homes that sold in King County in April was 49 percent lower than the median price of non-distressed homes. Short sales prices were 23 percent lower.
Many of today's buyers are not seeking loans that stretch their budgets as in the past, prompting banks and the secondary market to regain confidence, and eventually loosen their credit guidelines and roll out new loan programs. Buyers will have to look at making their first offer their best offer, even on bank-owned homes. The days of lowball offers will soon fade and short sales losses will tighten. As prices stabilize and inventories drop, many buyers will feel the chance at home ownership at bargain prices slipping from their grip.
Statistical Summary by Counties: Market Activity Summary - April 2011
4-County Puget Sound Region Pending Sales (SFH + Condo combined)
(Totals include King, Snohomish, Pierce & Kitsap counties)
Northwest MLS members reported 7,154 pending sales during April, a 24 percent drop from a year ago when buyers were scrambling to take advantage of a federal tax credit that expired April 30, 2010. Going back two years, pending sales rose by a modest 3.4 percent; when compared to the same month in 2008, last month's pending sales (mutually accepted offers) jumped 15.2 percent.
"With healthy sales activity over the last several months, a shortage of homes coming on the market and low foreclosure activity, the stage has been set for a multiple offer market," observed J. Lennox Scott, chairman and CEO of John L. Scott Real Estate. Scott believes buyer confidence around job centers is back, noting one office had multiple offer situations on 82 percent of recent transactions in North Seattle. Northwest MLS directors in King County, along with representatives from Whatcom and Kitsap counties, also commented on the uptick in multiple offers.
The new report from Northwest MLS shows members in the 21 counties it serves added 10,083 new listings during April, down 20 percent from the same month a year ago. Through the first four months of 2011, nearly 11,000 fewer new listings have been added to inventory when compared to the cumulative total for the same period a year ago, a drop of 23.5 percent. Total inventory is down nearly 13 percent from a year ago.
Fewer buyers are making low-ball offers and sellers are being more proactive about pricing their homes to be competitive in today's environment. Both buyers and sellers are beginning to get the message of today's market, which is ‘be realistic'.
Brokers reported 4,581 closed sales during the month, of which 3,994 were single family homes. That's a drop of about 12.6 percent from the year-ago figure of 5,243 closings. The median price on the 4,581 completed sales for April was $237,000, a decline of 9.2 percent from the year-ago median price of $261,000. In King County, prices are down about 4.6 percent, from $340,000 to $324,500. The dips reflect a significant number of foreclosed homes and short sales that are in the mix.
An analysis by Windermere Real Estate shows distressed properties accounted for about 35 percent of home sales in King County in April, up from 21 percent a year ago. Bank owned properties account for much of the growth, according to Windermere's research. The analysis shows the median price of bank-owned homes that sold in King County in April was 49 percent lower than the median price of non-distressed homes. Short sales prices were 23 percent lower.
Many of today's buyers are not seeking loans that stretch their budgets as in the past, prompting banks and the secondary market to regain confidence, and eventually loosen their credit guidelines and roll out new loan programs. Buyers will have to look at making their first offer their best offer, even on bank-owned homes. The days of lowball offers will soon fade and short sales losses will tighten. As prices stabilize and inventories drop, many buyers will feel the chance at home ownership at bargain prices slipping from their grip.
Statistical Summary by Counties: Market Activity Summary - April 2011
4-County Puget Sound Region Pending Sales (SFH + Condo combined)
(Totals include King, Snohomish, Pierce & Kitsap counties)
Thursday, May 5, 2011
King County ranked No. 7 in the country last year for counties spending the most money on remodeling
According a National Association of Home Builders survey released on March 15, King County homeowners spent an estimated $2,295 million on their projects, averaging $4,914. Neighboring Snohomish County was ranked No. 64 with $665 million and an average of $3,768, while Pierce County checked in at No. 73 with $615 million and an average of $3,323. A total of 3,143 counties were surveyed. Total remodeling spending in a particular county is obviously related to the number of homeowners in the county. Los Angeles County led the country at $9.4 billion. Rounding out the top five list is Cook County in Illinois, Orange and San Diego counties in California, and Maricopa County in Arizona. The NAHB model uses data from the American Housing Survey - which is funded by the U.S. Department of Housing and Urban Development and conducted by the U.S. Census Bureau - to estimate local remodeling based on home and homeowner characteristics. It is then applied to the information on every county's homes and home owners that the Census Bureau released late last year from its American Community Survey. The new NAHB estimates include remodeling spending per owner-occupied home. Nantucket County Massachusetts leads the nation on remodeling spending per home at $9,369. Other counties in the top five include New York County (Manhattan) and three counties in the San Francisco Metropolitan area. In each of these counties, remodeling is over $8,000 per owner-occupied home. In comparison, the average across all counties nationwide is $2,085.
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