My compliments to Phoebe Chongchua for the following article.  It shows how air quality plays SUCH a big part in how we feel day to day: 

Selling Home May Be Influenced by What Buyers Can’t See
by Phoebe Chongchua

It’s not always what buyers can see in a home that causes them to want to buy it or not. Sometimes it’s the way the home feels. I’m not talking about staging, the size, or how spacious the home is, although those factors are important too. In this column I’m focusing on how buyers’ allergies may be affected when they tour your home.

“We have about 300 million Americans and about 60 million of them have allergies or asthma,” says, Mike Tringale, Director of External Affairs for the Asthma and Allergy Foundation of America (AAFA).

Allergy problems can be debilitating for sufferers. Many will go to great lengths to avoid any possible influences that might bring on symptoms. Allergies and asthma are increasing, Tringale says, “some of that may actually be because of the houses we’re living in.” He adds, “it all comes down to the air quality in the home.” According to AAFA, there are some simple steps that you can take to help clear the air in your home and reduce any harmful fumes—making it more appealing to those with allergies and even those without.

Tringale says do this three-step process: take an organized approach to looking at how your home is built, look at materials used in your home, and understand the types of cleaning agents that you’re using and how they can affect indoor air quality.

Check for mold. Mold is one of the most common indoor allergens. “Look for cracks in foundation. Check to see if the windows are completely sealed or if moisture is getting in—too much moisture can lead to a mold problem,” says Tringale. He adds that there are also housing products, such as wallboard, that are mold resistant. So be sure to check for those items when replacing housing materials.

Clean with hydrogen peroxide or sodium perborate not bleach. Bleach is a common cleaning chemical but it has a very strong odor and, people with highly sensitive allergies to bleach, often immediately can sense symptoms coming on even if with just a brief exposure to the chemical.

Use PVC-free shower curtains. Hard to imagine that a pretty shower curtain can wreak such havoc on people’s allergies, but the polyvinyl chloride shower curtains can release more than 100 volatile organic compounds (VOCs) including two (toluene and xylene) that are classified as hazardous pollutants by the Environmental Protection Agency. Having PVC shower curtains hanging around while your home is being shown can make those suffering from allergies feel the need to escape quickly.

Opt for area rugs instead of wall-to-wall carpeting. The U.S. Green Building Council provides information on “going green,” the Council says carpeting can be particularly troublesome because the padding underneath is very difficult to clean or remove for drying. Carpets also harbor dirt, organic detritus, and moisture and can become a significant source for mold and mildew. Instead use area rugs over a hard-surface floor. The Council also recommends avoiding all biocide-treated (moth repellent) wool or cotton carpets.

Use products that contain low volatile organic compounds (VOCs). A lot of homeowners will paint just before they list their homes for sale. But Tringale says, if you do, be sure to use paints that contain low VOCs. “Many paints contain volatile organic compounds and smells that can linger for weeks and cause all kinds of symptoms including eye irritations for people,” says Tringale.

“If you’re re-staining your floors ask for the low VOC stains, or even better, put in pre-treated floors rather than raw wood that you then have to apply polyurethane over the top of,” says Tringale. He cautions sellers to “Make smart choices; otherwise you’re going to have a house that is really chemically offensive to buyers who are walking through.” For more information visit asthmaandallergyfriendly.com.

Published: June 19, 2009

May 28, 2009, By Nick Timiraos of the Wall Street Journal:

Why do borrowers default? Many have assumed it’s because mortgage payments are too high. But a new paper from the Federal Reserve Bank of Atlanta argues that unaffordable loans—with high mortgage payments relative to income from the time they’re originated—are “unlikely to be the main reason that borrowers decide to default.” Instead, unemployment and future home price declines are likely to play a bigger role. (The paper looks at loans that are unaffordable from the time they’re originated, and not at loans that may start with low “teaser” rates before jumping higher.)

The Fed paper estimates that a 1-percentage-point increase in the unemployment rate boosts the chance of a 90-day delinquency by 10%-20%, and a 10-percentage point fall in house prices raises the probability of a default by more than half. A 10-percentage-point jump in the debt-to-income ratio, meanwhile, increases the chance of a 90-day delinquency by 7%-11%.

The paper also takes a look at whether it’s really in the interest of investors and lenders to modify delinquent loans instead of foreclosing on the homes backed by those loans. After all, some estimate that the gains from modifying loans rather than foreclosing on them runs as high as $180 billion. The authors note, “It is natural to wonder why investors are leaving so many $500 bills on the sidewalk.” Their answer: modifications don’t save much. While investors do save some money by modifying loans, they still lose money on those that work–and many modifications still fail.

So how to prevent defaults and foreclosures? An important question amid news Thursday that mortgage delinquencies hit record highs. While the authors recognize the value of loan modifications as one practical tool, the paper argues for more attention on programs to help people who lose their jobs to get through stretches of unemployment without resorting to the loss of their homes. Another approach: to boost short sales, where the lender allows the sale of a home for less than the value of the mortgage

June 9,2009----

Mortgage rates across the board jumped this week, with conventional mortgages reaching their highest point so far this year.

Freddie Mac reports a jump in the 30-year fixed mortgage rate to a 25-week high of 5.29 percent during the week ended June 4, up from 4.91 percent the prior week. As recently as two months ago, rates had been 4.78 percent.

The 15-year fixed rate also increased, rising to 4.79 percent from 4.53 percent, with Freddie Mac chief economist Frank Nothaft indicating that the gains follow a surge in long-term bond yields.

Meanwhile, the five-year adjustable mortgage rate climbed to 4.85 percent from 4.82 percent, and the one-year ARM surged to 4.81 percent from 4.69 percent.

Source: Chicago Sun-Times, Francine Knowles (06/05/09)

Really interesting article in ‘Wired’ this month.  It makes sense...all the Facebooks, Twitters, MySpace, etc. will one day share and need just one login. The article says it better:  “Wired" article

Short Sale Properties
A short sale is any sale where the purchase price will not result in sufficient proceeds to pay off the mortgage, or other liens, and clear the title.  Short sales are typically made using a short sale addendum that makes the transaction contingent upon the seller obtaining the consent from their creditors permitting a reduction in the closing costs sufficient to close the transaction for the purchase price.  Because the transaction is contingent upon the consent of third parties, short sales often fail.  Buyers should understand and plan for the resulting uncertainty.  Contract deadlines and termination provisions must be carefully considered in a short sale.  Because the transaction is contingent on the consent of one of more third parties, sellers can, and often do, continue to market the property and seek better offers.  Creditors will often demand changes in the terms of the sale agreement as a condition of giving their consent. Buyers should be prepared to deal with the additional uncertainty created by the potential for multiple offers and third party demands.  Real estate licensees can give buyers important marketing, business and negotiating advice and information and can assist in preparation of the sale agreement but only pursuant to the client’s instructions. Real estate licensees are not attorneys and are prohibited by law from giving legal advice.