With temperatures (finally!) dropping, many of us crank up the heat at home—but a higher electrical bill isn’t the only danger we face.

Winter is the prime season for house fires: Nearly a third of all total-loss house fires occur in the months of December, January, and February, according to the National Fire Protection Association. Even scarier? The average household can expect five fires in the lifetime of its members.

That’s a lot of fires. And while most are small, they collectively cost us $7.3 billion a year in property damage—plus there’s a 1 in 10 chance that fire will injure someone in your home.

The good news? Most house fires are easily preventable. Watch for these risk factors to prevent things from going up in smoke.

1. Space heaters

Many houses, especially old ones, have cold spots that central heating simply won’t reach—which makes plug-in space heaters a godsend. Unfortunately, these toasty devices are the leading cause of house fires in the winter.

We’re not telling you not to use them; just be sure to respect these rules:

• Make sure your heater is at least 3 feet away from anything flammable;
• Plug your heater directly into the outlet rather than an extension cord; and
• Although it may be tempting, do not go to bed with the space heater on.

2. Cooking 

We all know how easy it is to step away from the stove for just one moment. But stove top cooking is the leading cause of house fires year-round, and most occur within the first 15 minutes of cooking.

Know the song “Stand by Your Man”? Well, safety experts say, “Stand by Your Pan.” Make it a rule to turn off the stove if you must leave. If you’re baking something, you can leave the room, but check back at least once every half-hour, and don’t leave the house without turning off the oven.

Also, make sure that oven mitts, dish towels, and other flammable items remain 3 feet from the stove top at all times—you’d be amazed by how quickly heat can travel.

If the worst happens and you’re suddenly faced with flames and spattering grease, don’t panic. Turn the stove off, then put on a pair of elbow-length cooking gloves. (Go ahead and order some now to have on hand.) Cover the pan with a lid, and let the oil cool down. Don’t move it—you don’t want to spill the fiery contents. Have a fire extinguisher when you eventually remove the lid.

3. Electrical cords

We’ve all done it: We want the electric kettle, laptop, iPhone charger, and toaster to run from the same power outlet—so we add an extension cord or adapter to accommodate all of our appliances. Yet every year, overloaded or damaged circuits cause 3,300 fires.

Make sure you’re not one of them by, for starters, giving your cords a feel: If they’re warm, they’re overloaded. Also, never run extension cords under rugs, tape them to floors, staple/nail them to walls, or string several together to make an extra-large extension cord.

4. Fireplaces and wood-burning stoves

While it’s recommended you get your fireplace checked regularly, the reality is, it can start a fire even if your chimney passed inspection with flying colors, says Joe Torrillo, a firefighter who served in the New York City Fire Department for 25 years.

“It’s called pyrolysis,” says Torrillo, who now tours the country speaking as a fire safety expert. “It gets very hot in the fireplace, and the heat can transfer to the [connecting] wooden structure.”

So when you use your fireplace, make sure to extinguish the fire completely before leaving or sleeping, and keep flammable objects at least 5 feet away.

Be careful with the embers, too—they can smolder for up to two weeks and ignite other trash you throw out with them. The best policy is to empty ashes into a metal container and store them away from anything flammable for at least two weeks. Be sure to clean your fireplace and flue at least annually.

5. Candles

From 2009 to 2013, candles caused 3% of home fires and 3% of home fire deaths, according to the NFPA. But before you ditch all of your sweet-smelling blocks of wax, know this: The main problem is not the candles, but how we use them. Too many people light them on top of tablecloths or near curtains, which can easily catch fire.

“Candles should be burned within sight on a stable surface, away from anything that can catch fire and out of reach of children and pets,” says Carol Freysinger, executive director of the National Candle Association.

Because wax gets soft as it melts, a hot candle can tip out of its holder, igniting wood surfaces and shelves. That’s why you should never leave a candle burning unattended, or switch to battery-powered ones—these days they look and smell just like the real thing.

6. Christmas trees

Don’t use those old bubble lights on your tree, even if they’ve been in the family for generations.

“Each light is 5 watts. With 100 5-watt bulbs, that’s 500 watts of heat” on a tree that’s slowly drying out, Torrillo says. Additionally, keep the tree away from sources of open flame and don’t overload sockets. According to the NFPA’s most recent data, Christmas trees cause an average of 210 structure fires annually.

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Finally, here are some life-saving tips for all households.

Install and maintain smoke detectors

Every home needs working smoke detectors—inside each bedroom, outside each sleeping area, and on every level of the home, including the basement. Test them every few months and completely replace them every 10 years.

Know your fire extinguisher

Just because you have a fire extinguisher doesn’t mean you know how to use it. For example, if you spray the extinguisher directly into a pan of flaming grease, flaming spittle can go everywhere. Now’s the time to check out some instructional videos. Better yet? Swing by your local firehouse and ask the firefighters how to use an extinguisher.

Plan an escape route

We’re not just talking about walking out the front door. What if the route is blocked? If you really want to be prepared, keep an escape ladder inside every bedroom, Torrillo recommends, and practice deploying it to get familiar.

Content Courtesy of Realtor.com

—

James Silver

Associate Broker | Team Leader

The James Silver Team, KW Realty

Michigan | Florida

(248) 530-7292 | JamesSilver@kw.com

www.JamesSilverTeam.com

So it’s your turn to host Thanksgiving. You may be running around to make sure everything is ready for the plethora of relatives and guests you’ve invited. In the midst of your prepping the turkey and stuffing don’t forget these last-minute hacks to make sure your house is ready for Thanksgiving.

Hack #1: Entrance

Most likely than not there will be snow and/or rain this Thanksgiving. To ensure the festivities start off to the right foot by plowing and salty your walkway and the entrance to your door. This will keep anyone from slipping, falling and putting a damper on the holidays.

Also, do not forget to place a welcome mat on the outside and inside of the door so that your guests may wipe their feet. That way you can keep your floors somewhat clean from the various guests in your home.

Hack #2: Kitchen

The kitchen is the heart of the home. It’s the place everyone gathers during parties, dinners, etc. As the number of guests increases, so does the strain of on the plumbing system in your home. Be sure to dump all leftover foods scraps into the trash before putting the dish in the sink to prevent clogs. It would be worthwhile to make sure the trash is accessible so that you’re guests can do the same to help keep the heart of your home tidy.

Hack #3: Bathroom

To make your guests feel even more welcome create a care basket. Fill a basket with extra paper goods, hand towels, feminine products, and air freshener. If you really want to be called the best host ever, then add a laundry stain stick to catch spills before they set.

Hack #4: Your valuables

Before your guests arrive, walk through your home and take stock of items you do not want broken or damaged – family heirloom pieces, valuables. Put these items in a box tucked into the closet until after your guests leave.

This should also be done for your kids’ special toys or even any rugs or pillows that would be tough to clean.

Hack #5: Create a clean up kit

No matter how careful you are, you are bound to have at least one person spill wine or gravy somewhere that makes you shudder. For this inevitability, consider putting a few go-to cleaning items in a basket—a sponge, microfiber cloth, dustpan, brush (think broken glass), and all-purpose cleaner—and place it out. You might add a comical “oops” sign to the container so guests don’t feel awkward if they have an accident and need to grab it.

—

James Silver 

James Silver Team, Keller Williams Realty

Michigan | Florida

(248) 530-7292 | JamesSilver@kw.com

www.JamesSilverTeam.com 

The results of the presidential election was a shock to most Americans. Half the country who did not get what they wanted, have even been so inclined to say that they will move to Canada postelection. If those people were to follow through and put their U.S. homes on the market and move way up north, we would have a much needed surge on inventory on the market.

Jonathan Smoke, Cheif Economist for realtor.com, analyzes that the postelection real estate market may not be as bleak as some may think it might be.

A recession is highly unlikely next year, regardless of what the doomsday brokers are peddling on the financial news.

The reaction thus far from serious economists I trust—and the investors who are voting through their purchases of stocks—is that the short- and medium-term economic prospects are now brighter with Donald Trump as president-elect. The problem, of course, is that we don’t really know yet what his priorities will be.

Before the election, I felt confident about the continued health and prospects for the U.S. residential real estate market regardless of who might occupy the White House next year. And I still do.

Why? The economy is expected to continue to grow. The only question is by how much. Most forecasts expect moderate growth, stronger than this year.

Growth will lead to slightly lower unemployment—and that buoys consumer confidence. And growth will also lead to more jobs, which lead to more households looking for homes.

Regardless of exactly how much the economy grows next year, we are now in the midst of two massive demographic waves that will power above-average demand for homes for at least the next 10 years. And neither of these two factors has anything to do with our new president-elect.

The biggest generation in history is the largest buyer of homes in the U.S. This is leading to a recovery in first-time home buyers. The median age of a first-time home buyer this year was 32, according to the National Association of Realtors®’ 2016 Home Buyer and Seller Report.

Next year 4.4 million people in the U.S. will turn 32.

At the same time, we have the second-largest generation in history moving into retirement. We are seeing 65 to 74 as the key age range where housing decisions—often involving a sale and a purchase—are being made. Over the next five years, the number of people in the U.S. over 65 is expected to grow 18%, while the population overall grows only 4%.

To frame what these demographic waves mean, just look at the top reasons why people are actively starting their research now to buy a home in 2017:

• They are dead tired of their current home. Indeed, the median tenure of people living in their homes has never been longer. It’s time to make a move—and the economy and housing market have recovered to make that possible.
• They consider home prices to be favorable. Prices have recovered in more than half of the markets in the country, so there are fewer bargains. However, consumers believe prices are likely to rise further.
• They have had a change in their family circumstances or composition. First kid needs her own room. Elderly parent moved in. Adult child moved out. Another baby is on the way. Sheesh. None of these life events is planned around elections. You can’t postpone needing another bedroom.
• They are getting married or moving in with a partner. No one’s going to cancel their wedding plans just because Donald Trump is heading to the White House. Right?

My biggest concern about next year has to do with financial markets. If Trump’s presidency eventually leads to stock market declines and/or substantial volatility in stock prices, luxury price points and second-home markets could suffer.

But the single financial factor that will affect the market the most will be what happens to mortgage rates. The market is interpreting the likely fiscal policy direction as inflationary, so rates have jumped this week. The average 30-year conforming rate is up a quarter of a point so far to its highest level since the beginning of the year.

The key question becomes: Just how high will rates go? Before the election, most forecasts called for an increase of 50 to 60 basis points in the next year. (A basis point is 0.01%.) But in one week, we’re already halfway there!

Higher rates cause higher payments, even if the price, down payment, and loan terms remain the same. This can break a budget and even disqualify potential borrowers by pushing them beyond the limits of the required debt-to-income ratio.

Borrowers can mitigate some of the impact of higher rates by considering other loan types or terms, buying discount points, or putting more money down.

A positive aspect of higher rates is that lenders are likely to become more aggressive at chasing purchase mortgage business. Higher rates give them more potential profit to balance against marginally higher risk. And higher rates will spell the end of the refinance business that has been their primary market for the past several years.

In other words, credit access will likely improve more than we have been seeing in 2017 if this trend continues.

Net, net, I’m optimistic about the country’s economic prospects under President Trump—as I would have been under a President Clinton. Millennials and boomers will still be buying homes regardless of what happens.

Courtesy of Realtor.com

—

James Silver

James Silver Team, Keller Williams Realty

Michigan | Florida

(248) 530-7292 | JamesSilver@kw.com

www.JamesSilverTeam.com

The pace of existing home sales in September rebounded from declining activity in July and August, driven by increasing sales to first-time buyers.

The National Association of Realtors® reported that the September seasonally adjusted annualized rate of existing home sales increased 3 percent when analysts had been expecting no change following two months of decline.

As a result of the increase, the annualized pace of existing home sales is at 5,470,000 and is now back in line with the pace we saw in the spring.

That pace of sales is 1 percent higher than September of last year.

This performance was against a backdrop of a 7 percent year-over-year decline in the inventory of homes available for sale.

We are in the time of the year when existing home sales decline as a result of seasonality. Looking at unadjusted numbers, September saw 484,000 sales, which was a 10 percent decline from August and a 3 percent increase over last September.

The increase in activity is primarily a result of a substantial increase in the share of purchases of first-time buyers, which reached 34 percent according to the NAR data. That’s the highest share in more than 4 years and is inline with the big shift in demand we starting observing on realtor.com in August.

While the supply of homes for sale at 4.5 months is officially tighter now than in July or August, more first-time buyers are finding success because they face less competition in this slower time of the year.

Inventory is barely now past its peak for the year, yet fewer buyers are attempting to close on a home now until next spring. That means there is more available inventory per buyer now than we’ve seen in the last four months.

If you are a first-time buyer and you are in a position to buy now, this is the best time of the year to do so as you face less competition and you have more leverage with sellers.

This is only the beginning of the return of the first-time buyer as the potential for more growth in first-time buyers in the months and year ahead is substantial. In September, 52 percent of the active shopper pool was a first-time buyer.

A 34 percent share is still depressed by historical standards, but even so this gradual increase has resulted in year-to-date growth in sales to first-time buyers that is nearly three times the growth in existing home sales overall.

If the economy continues to see growth and mortgage rates only rise gradually, we have the potential of seeing much more substantial growth in this segment driving the overall growth in the market.

If you are a first-time home buyer, call us today!

Content courtesy of Realtor.com

—

James Silver

Associate Broker | Team Leader

James Silver Team, Keller Williams

Michigan | Florida

(248) 530-7292 | JamesSilver@kw.com

www.JamesSilverTeam.com

Goblins, ghosts, and gouls! Are you ready for Halloween?

Realtor.com explored the internet to find the most spooktacular Halloween-themed homes this season! How does your home compare?

Skull torches light the walkway. Randy Son of Robert/Flick

Suburban yard by day, graveyard by night. BuildDirect

Saturday morning cartoons in 3-D. Build Direct

Pumpkin patch Roadsidepictures/Flickr

Can you find your way in (or out) of the house? Build Direct

Black sheeps of the family anyjazz65/Flickr

There goes the neighborhood. David, Bergin, Emmett and Elliott/Flickr

—

James Silver

Associate Broker | Team Leader

James Silver Team, Keller Williams

Michigan | Florida

(248) 530-7292 | JamesSilver@KW.com

www.JamesSilverTeam.com

We are dedicated to making sure you have the most up-to-date information about your biggest investment – real estate. Check out this info-graphic, to get the latest “what’s up” in real estate. It’s time to get your home sold!

Call us today to see how we can get it sold! We look forward to working for you.

You don’t have to make a ton of money to afford a decent home in some cities.

Pittsburgh is the most affordable metro area in America for those hoping to buy a home, according to data released Tuesday by the mortgage-data company HSH.com, which analyzed housing affordability in 27 cities across the nation. The HSH analysis looked at the cost—including principal, interest, taxes and insurance payments—of buying a median-priced home using a 30-year fixed-rate loan; the loan rates were based on people with credit scores of 740 or higher in each area and who put down 20%.

Using these measurements, a person hoping to buy the median home in Pittsburgh would spend about $756 per month on the home. That means they’d need a salary of $32,390 or more to afford the home (assuming they spend 28% or less of their pay on housing).

Source: HSH.com; assumes a 30-year fixed-rate mortgage

This data show that some markets are within reach of “first-time buyers and those with moderate incomes” (median home prices in each of these cities are well under $200,000), but “you may have to move away from the coasts” to find such affordable housing, says Keith Gumbinger, vice president of HSH.com.

—

James Silver

Associate Broker & Team Leader 

The James Silver Team 

Michigan | Florida

(248) 530-7292 | JamesSilver@KW.com

www.JamesSilverTeam.com 

According to an article by Realtor.com, here are the five biggest mistakes Veteran and Military make when purchasing a home.

Mistake No. 1: Not getting a Realtor who knows VA loans. 

Getting a VA loan is a process, be sure to find a Realtor who understand this process. Also, when buying through VA, be sure to find a home that meets VA property requirements. In order to avoid the hassle of making an offer on a house that may not get VA approved, work with a realto who has VA experience.

The James Silver Team has over 100 years combined experience in all types of real estate transactions, including VA loans. We can help you find the perfect VA-approved home in your desired area.

Mistake No. 2: Not communicating with your lender

About one in three home-buying veterans doesn’t know they have a home loan benefit, according to the VA. When you first meet with your lender, be sure to discuss your military status so they can inform you on all of the potential advantages. The biggest advantage with a VA loan is the ability to buy with 0% down, low-interest rates, doesn’t require mortgage insurance, and have more forgiving credit requirements.

Mistake No. 3: Forgetting about all the home-buying costs

While you’ll have a ton of financial advantages with a VA loan, you will still have some costs to deal with. You will still need cash for a home appraisal and inspection. It will speed things along if you come prepared knowing what you’ll have to shell out.

Mistake No. 4: Not thinking of your home as an investment

You may not think buying is a good move if there is a chance that you might be relocated in the near future. But that doesn’t mean you shouldn’t buy; that home could end up being a smart investment. By buying a home in high-demand area with popular home style and size, you’d give yourself a better chance at resale, or as rental property, once you have to move.

If you don’t like the idea of becoming a landlord, a VA loan is assumable, which means you can transfer the loan and property to another vet. You could also sell the home to a nonmilitary buyer. The best part is that you can use your VA home loan benefits again and again, so you could potentially own a rental home and a new home.

Mistake No. 5: Making other big purchases before closing

Wait until after closing to make any other financial moves, just to be on the safe side and to keep your loan on track.

Call us today to begin your home purchasing journey. Let us guide you through the process!

Content courtesy of Realtor.com

—

James Silver, Associate Broker & Team Leader

The James ilver Team

Michigan | Florida

JamesSilver@KW.com | (248) 530-7292

www.JamesSilverTeam.com