What should I Read? Mrs. Dunwoody's Excellent Instuctions for Homekeeping

This handy little reference book was a wedding gift (Thanks, Ms. Dembrowski!). Written by Miriam Lukken of LaGrange Georgia, it is full of timeless wisdom for keeping a clean, comfortable, and hospitable home. Do I practice all the advice in the book? Please. I don't even have time to take my own advice. But, I recommend it for anyone living on their own for the first time, or anyone who's parents were domestically challenged and therefore didn't pass on any wisdom of their own.

The book is full of both poetry and the nitty-gritty details of managing a household. One one page you'll see a recipe for homemade rat poison, on the next a poem by Shakespeare on the importance of sleep. But isn't that the reality of homekeeping? I only have to think of my own family Christmas celebration to know that this is true. Just moments before I embraced my octogenarian grandparents with Christmas joy, I was on the floor of my kitchen trying to keep the turkey grease from staining the grout. Yes. I washed my hands.

My favorite parts of the book have to do with hospitality: Change the sheets on your guest bed the day that your guests arrive, as our sense of smell is heightened in new environments. When your guests depart, wave until they are out of sight.

But I also love the little gems of practical wisdom scattered throughout the book: keep a safety pin near the kitchen sink so that when you take of your jewelry to do dishes you can pin them to your clothes. How brilliant is that?

A word of warning to my feminist friends, you might find this a little antiquated in terms of gender roles. But keep in mind that Mrs. Dunwoody, our narrator, is writing from the summer of 1866, so think of it more as a case study in southern hospitality, if that helps you enjoy it. Don't let that stop you from sharing it with a young man moving into his first apartment or dorm room. If he only reads the chapter entitled, "Miss Sallie Anne's Splendid Directions for Laundry," it will have been worth it.

This hard-cover book is available on Amazon for about $15.

Can I still decorate if my house is on the market?

Yes. Just be strategic. Here's a great article from Re/Max times about that very topic. If you're not sure whether or not you've gone too far, I'd be happy to come take a look. It is better for me to tell you that your Christmas Tree is blocking the flow from the entry way, than for another agent to tell me that her buyer thought your house was too small!

Selling During the Holidays: Go Easy on Decorations

Are your clients hoping there will be a Sold sign in their yard this holiday season? RE/MAX Northern Illinois Regional Director Jim Merrion and several Associates from his region offer thoughts on how to advise sellers against going overboard with holiday decorations.

"Layering on lots of holiday decorations inside and outside the house is one way to attract attention, but not necessarily the best way," Merrion says. "When it comes to holiday decor, restraint is the best approach. It's not that sellers shouldn't decorate for the holidays, but you don't want the seasonal touches to obscure the intrinsic appeal of the home."

The flip side of too much holiday decor, according to Merrion, is the impulse among some sellers to take their home off the market during the holidays because buyers are less active.

"It's true that fewer buyers are active during the months of November, December and January than at other times of the year, but those buyers who are in the market are usually quite serious about finding a home quickly," Merrion says. "Otherwise they, too, would be doing other things at this time year. Just a handful of showings during the holiday season can be more productive than a dozen showings in spring. Remember, it may take only one showing to generate a sales contract."

So what advice can Associates give sellers to improve the chances of offers landing in their holiday stockings?

1. Select and place the Christmas tree carefully so that it doesn't overwhelm the room.

"A tree that's too big for the room it's in really creates problems by making the whole house look small in comparison," says Paul Wells, Broker/Owner of RE/MAX of Barrington in Barrington, Ill. "If it's my listing, we spend time talking about the tree. I urge my sellers to make sure their tree fits comfortably in the room. A tree can look relatively small out at the Christmas tree lot, but then look huge when it's in a house."

2. Outside the house, use restrained yet festive exterior decorations to welcome visitors. An elegant wreath hung on the front door may be preferable to an inflatable snowman.

3. If you have traditional holiday decorations you want to display inside your home, think about putting away some of your non-holiday things so that rooms don't look cluttered. In the room where the tree is placed, consider removing some furniture rather than just rearranging it.

"It's really a matter of moving ahead and using your home as you normally would," said Louise Clark, Broker/Owner of RE/MAX Property Associates in Morrison, Ill. "Buyers understand that families live in the homes they visit - they make allowances for that - so sellers can have presents under the tree and lights in the yard. Still, the house needs to look neat, and you don't want the decorations to be a barrier that makes it difficult for buyers to get a good look at things, such as room dimensions, traffic patterns, window views and other important factors."

4. Use holiday decor to draw attention to the strongest features of the home. If there's a beautiful mantelpiece, use one or two eye-catching decorations to highlight it, but don't hide it under a layer of garland. Instead, use the garland to frame windows that offer an attractive view of the yard or the skyline.

5. Winter tends to be a dark time of year, so keep plenty of lights on inside the house when buyers are coming. Also, leave the drapes or blinds open, especially during daylight hours, so that the home seems as bright as possible.

6. Sharing a little holiday hospitality with buyers can be a good strategy, especially during an open house in December.

Michele Rossi of RE/MAX Accord in Bloomingdale, Ill., reports that at holiday open houses, "we roast almonds with a sugar cinnamon coating. The smell is intoxicating, not to mention that it tastes wonderful, too. We wrap the almonds in cheesecloth tied with a festive ribbon to give to buyers who stop in. We also offer a cup of hot wassail made with a great old recipe."

A final thought for sellers at this time of year, Merrion says, is to avoid making buyers feel like they're intruding.

"Even though the sellers are celebrating the holiday season, they need to convey the impression that they're serious about selling their home," he says. "They need to keep the front walk clear of ice and snow, and make sure the kitchen and baths look their best for showings. They probably won't see that many buyers this time of year, but those they do see are great prospects, so they must do their best to impress them."

What's Up With Mortgage Rates?

This came from David Osborne with Ashford Funding. I have worked with David before and can recommend him highly. Clearly he is staying ahead of the curve with the latest in the mortgage industry.

Fed Moves to Encourage Banks to Lend at 4.5% Interest Rates

Several news sources and the front page of the Wall Street journal today discussed the Treasury’s plan to spur the housing market byOffering low interest mortgages, possibly as low as 4.5% interest. Before we all go out and spread BAD information, here is what is known now:

• The proposal is still being discussed, and nothing has been finalized.
• The Wall St journal suggested, that even if this does happen, it probably won’t be until after Bush leaves office…Jan, Feb or later.
• The Wall St journal article said that the 4.5% rate would be for PURCHASES ONLY, not REFINANCES; the intent of the program is to spur NEW home sales.
• These loans would not be indexed with the 10 yr bond, but would be a special TBill offered to banks at a low rate, e.g. 3% in order to allow them to fund at 4.5%.
• I recommend to start shopping now, prequal them withtoday’s interest rates, and work with a lender that could float them down before closing if this does occur.

So, I know that my buyers are thinking, "I'm going to wait for this to happen to buy so that I can get a phenomenally low rate." But, keep in mind that if/when this happens, lots of like-minded buyers are going to come out of the woodwork. At that time the balance of power could shift to the bold home owners who are braving the market. It's never been more important to talk to a mortgage professional who has your file ready to go when you find the right home.

Let me know if you have any questions about this. If I can't answer your question, I'll put you in touch with one of my preferred lenders who are extemely knowledgeable of the market and offer excellent service.