The Hodgkins & O'Hara Real Estate Team

The Facts on the 2008 Tax Credit

noreply@blogger.com (ho) — Tue, 10 May 2011 15:28:00 +0000

Important Questions Answered about the 2008 First Time Homebuyer’s Tax Credit

For more information, visit http://www.irs.gov/taxtopics/tc611.html

Q: If I sell my home, am I required to repay the credit?

A: Yes, you must repay the remaining balance of the credit with the tax return for the year you sell your home.

Q: If I get a divorce and transfer the home to my spouse, am I required to repay?

A: No, the spouse that keeps possession of the house is responsible for repaying the entire remaining credit amount.

Q: If I no longer use this home as my main residence, do I have to repay?

A: You may need to add the entire remaining unpaid credit amount to your income tax on your next return.

Q: What are the exceptions where I may not have to repay the full credit?

A: If you transfer your home as part of a divorce settlement, you former spouse who keeps the home is responsible for making the rest of the payments

If your home is destroyed, condemned, or disposed of under threat of condemnation and you purchase a replacement home within two years, you continue to repay the credit in installments each year.

If you lose your home in a foreclosure sale, you repay the credit only up to the amount of the gain

If you die, no further repayments are due. If you claimed the credit on a joint return, your surviving spouse pays only his or her half of the remaining credit repayment amount.

HUNT Mortgage does not advise on any personal income tax requirements or issues

Credits: Hunt Mortgage

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

With the First Quarter almost behind us, what can we expect for the rest of 2011?

noreply@blogger.com (ho) — Fri, 11 Mar 2011 17:44:00 +0000

1. “Recovery” is the Hot Buzz Word. In a market that appears as if it can do nothing but go up, a majority of everyone’s focus this coming year will be on recovery. The not so great news is that recovery is around the corner, but not necessarily the immediate proverbial corner. The better news is that recovery is in sight. Home prices may fluctuate a little, moving up or down just a bit, but they should remain relatively flat for 2011.

2. Real Estate Brokerages will Merge. In a desperate market, many find the need to consolidate in effort to stay afloat. Smaller real estate companies are struggling to keep their doors open with expenses and a slow market. As a result, many of them may merge with larger companies better able to sustain the ups and downs of the market. And some larger ones will combine forces in order to take advantage of synergy and market domination.

3. Sales of Entry Level Homes will Dominate. With the lower prices of homes today and decreased insurance prices, those looking to get into their first home will be commonplace in the market. These affordable prices mean someone who has never owned a home should and will take advantage of the state of the real estate market today.

4. Some Luxury Homes Will Sell as Short Sales. Nicer homes are often bought with a larger down payment. While this gives a certain amount of wiggle room in the short term because mortgage payments are typically lower, the owners of these homes are worried.

The wealthy who buy the large luxury homes usually count on a nice retirement in their later years. As the market continues to decline or plateau, so are retirement accounts. Some are choosing to get out of their homes as quickly as possible to funnel more money into retirement before it is too late. This trend will likely continue through out 2011.

5. Mortgages Will Continue to Be Cheap. Since credit score requirements to receive a loan have gone up (minimum of a 700 score), it is more difficult to get a loan. As a result, experts predict the federal government will likely keep interest rates low to stimulate the real estate market.

6. Mortgage Interest Deductions will Remain. There has been worry that Congress may take away mortgage interest deductions from Americans. Most believe, however, this is unlikely to happen since it would cripple the already handicapped housing market.

7. Loan Modifications will Fail. More than half of all loan modifications are in default. Simply put: Loan modifications don’t work. They fail to reduce the principal amount of the loan so a homeowner is still left owing more than they are able to pay. Six to nine months after the modification, the homeowner is typically right back where they started: unable to pay their mortgage.

8. Cash Investors will Win. Cash talks much louder today than credit. Obtaining a loan you will pay out over time is much riskier to a seller than putting down cash on something. Sometimes you can even pay less on an investment if you pay in cash.

9. Many Mortgage Brokers will Fold. A law passed in 2008 which dictated new guidelines for mortgage brokers went into full effect on January 1, 2011. These new rules are much stricter and make being a mortgage broker more difficult. Many will simply go out of business.

10. Foreclosure and Short Sale Lawsuits will Start. Think you are off scot free once you have a foreclosure or short sale? Think again! In fact, lenders can still pursue you after you think you’ve washed your hands of a bad home loan. In many states, you can be sued for the liability of the remainder of a loan. This means if your home went into foreclosure or short sale and the lender didn’t retrieve the total amount owed, they can still pursue you for the remaining amount.

Improve Your Home's Value and Sell Fast

noreply@blogger.com (ho) — Fri, 11 Mar 2011 15:40:00 +0000

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

Obey the 24-hour rule

noreply@blogger.com (ho) — Thu, 10 Mar 2011 16:15:00 +0000

A great article that can be applied to all aspects of life's success and failures. A great read!
-Chip & Tom

By Harvey Mackay

Don Shula is a legend -- an incredibly successful professional football coach. He holds the NFL record for most career wins, 347 over 32 seasons. He led the Miami Dolphins to two Super Bowl victories, including the one that capped the only perfect season in NFL history.
How did he do it? By not dwelling on the past. Shula had a "24-hour rule," a policy of looking forward to the next challenge instead of dwelling on the previous victory or failure. The coach allowed himself, his coaching staff and his players a maximum of 24 hours to celebrate a victory or brood over a defeat. During those 24 hours, Shula encouraged them to feel their emotions of success or failure as deeply as they could.
But the next day, it was time to put it all behind them and start concentrating their energy on preparing for their next game. His philosophy was that if you keep your failures and victories in perspective, you'll do better in the long run.

What a difference a day makes! I absolutely agree with Shula's philosophy. Let me explain why.

Let's start with a colossal failure. How often have you been tempted to throw in the towel after losing a big sale or watching a million-dollar deal fall through, only to have your luck turn a day or two later?

Every morning brings new potential, but if you dwell on the misfortunes of the day before, you tend to overlook tremendous opportunities. Instead of seeing the possibilities for success, you hesitate, concentrating on the dark clouds rather than the silver lining.

Next step in the downer process is the vibes you send out to your customers. Your usual enthusiasm is seriously compromised because you are waiting for rejection. And that's exactly what you'll deserve.

Snap out of it! You've had plenty of success before. This episode was just a bump in the road. Don't turn it into a detour.

Buck Rogers, former vice president of marketing at IBM and author of Getting the Best Out of Yourself and Others, has this advice to stay motivated: "To be successful, you have to believe you can change the conditions in your life. You have to get out of the back seat of someone else's car and get behind your own steering wheel. You can't wish away the things in your life that make you unhappy and you can't daydream your hopes into reality . . . Make things happen."

On the opposite end of the spectrum is the spectacular victory -- the referral that turned into your biggest account, the employee of the month award, the amazing idea that turned your company around. Do you think now is a good time to coast or to rest on your laurels?

Absolutely not! Celebrate with your co-workers, go home and take the night off, and then come back to work in the morning ready to do an even better job the next day. You are on a roll. Don't waste the momentum.

Your bragging rights expire after 24 hours. It's fine if others want to congratulate you. Be gracious, thank them and get back to work. A great accomplishment shouldn't be the end of the road, just the starting point for the next grand destination. Success breeds success.

My friend Zig Ziglar says he is often challenged by people who want to know what motivation is. He relates a great example: "There are those who say that when someone goes to a motivational session they get all charged up, but a week later they're back where they were before they attended the session. In short, motivation isn't permanent, right?"

"Of course motivation isn't permanent. But then, neither is bathing; but it is something you should do on a regular basis."

The 24-hour rule allows you to look at each new day as a blank slate. Take along lessons from the past. You can learn as much -- or more -- from failure as from success. But don't live in the past. Build on what you know so that you don't repeat mistakes. Resolve to learn something new every day. Because every 24 hours, you have the opportunity to have the best day of your life.

Mackay's Moral:

If you live in the past, you won't have much of a future.

The First Question You Should Ask Your Listing Agent

noreply@blogger.com (ho) — Thu, 03 Mar 2011 13:50:00 +0000

HEY All,

What do you think the first question you ask your Listing Agent is? Or what is the first question you asked your Listing Agent? Read below and give us your feedback. We'd love to hear your thoughts!

- Chip & Tom

The First Question You Should Ask Your Listing Agent

by The KCM Crew
What is the most important thing a seller should look for when hiring a real estate agent to sell their house? We are often asked this question. Is it the size of the company they are licensed with? Is it their marketing program? Their years experience in the business? Should you choose the agent who suggests the highest listing price?

There are many things that should be taken into consideration when hiring someone and giving them the responsibility for selling your home. In our opinion, the most important question you can ask a potential listing agent is a simple one:

Do you truly believe that now is a good time to buy a home?

Why should this matter when hiring someone to SELL your home? Buyers are nervous about purchasing right now. They want to know they are making an intelligent choice. We believe, especially in today’s market, you need to hire someone who realizes that this is one of the best times in American real estate history to buy. If an agent doesn’t believe that, how will they be able to convince a potential buyer to buy your home?

When interviewing a real estate professional, ask them to explain why purchasing a home makes sense today. They should be able to explain it simply and effectively. See how many of the following facts (which should be shared with every potential purchaser) the agent knows:

The Wall Street Journal last week stated:

“With home sales starting to improve, and with prices now possibly forming a bottom, real estate could well be the asset class that represents the best low-risk buying opportunity out there today.”

Donald Trump was just quoted saying:

“I’m pretty sure this is a great time to go out and buy a house. And if you do, in 10 years you’re going to look back and say, ‘You know, I‘m glad I listened to Donald Trump’.”

John Paulson, a multibillionaire hedge fund operator and the investment genius who made a killing betting against housing a few years ago, is now bullish on residential real estate market. He recently said:

“If you don’t own a home, buy one. If you own one home, buy another one. If you own two homes, buy a third. And, lend your relatives the money to buy a home.”

A recent Gallup Poll showed that 67% of American’s think that now is a ‘good time’ to buy a home. The Gallup Organization went on to say:

“Overall, there is good reason for most Americans to think now is a good time to buy a house. Interest rates remain near historic lows. Home prices are down sharply, providing many incredible buys.”

The iconic financial paper in this country, the country’s most famous real estate investor, the most successful prognosticator of the housing market and 2/3 of all Americans say now is the time to buy a home. Shouldn’t your agent agree?
Bottom Line

Selling is nothing more than the transference of conviction. How can agents transfer that conviction if they themselves are not convinced? Find a listing agent who truly believes that someone should buy your home – TODAY! This is the single most important thing you should look for in a potential listing agent.

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

noreply@blogger.com (ho) — Tue, 01 Feb 2011 19:39:00 +0000

Did You Know: Annual Rent Increases Make Home Ownership a Good Investment
By Danielle Hale, Research Economist, NAR
• According to the Consumer Price Index, tracked by the Bureau of Labor and Statistics (BLS), prices for the rent of a primary residence have increased at an average rate of a little more than 3 percent per year for the last ten years. The table below shows monthly, annual, and total rent over ten years assuming a 3 percent annual increase.

By contrast, a home buyer who locks in a thirty-year mortgage will have fixed mortgage payments. Buyers locking in a mortgage rate now have fixed payments at record low rates.

Of course, an average increase indicates what’s typical, but not every year will be typical. In 2009, when the prices of all items decreased by 0.4 percent, prices for the rent of a primary residence increased 2.3 percent across the US. The typical increase in all prices over the last ten years was 2.5 percent.

2010 looks to be another atypical year. All prices in the year ending September 2010 were up 1.1 percent while the price of rents in the same period rose 0.2 percent.

Consumer Price Inflation data is released by the BLS every month near the middle of the month. NAR tracks this and other inflations series in Inflation Watch, posted on Research’s Facebook Page.

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

8 Tax Mistakes That Can Cost You

noreply@blogger.com (ho) — Mon, 24 Jan 2011 13:34:00 +0000

With the new year in full swing, you've probably begun piecing together your tax return. Maybe you haven't filled out a tax form yet, but you should at least have begun considering your strategies. Before you leap at some new tax-saving tip or take a daring shortcut, though, consider these tales of IRS ire.

We recently asked our readers and Facebook fans to tell us their biggest tax blunders; their responses ranged from the comical to the cringe-inducing. One reader confessed that she once bounced her check to the IRS. Another reader paid $25,000 in fines for listening to the advice of a tax preparer.

Their pain can be your gain. Here are eight tax goofs your fellow readers have made, and tips for how you can avoid following in their missteps:
1. Was your debt forgiven? Report it as income.
In our sputtering economy, Americans are renegotiating credit card debt as never before. Yet many don't discover until later -- sometimes much later -- that in the view of the IRS, canceled debt from credit cards is income. "What we didn't know was that all the savings were considered income," one reader told us. "We were charged late charges and penalties."

Taxes: Fixing mistakes

Credit card companies report forgiven debt to the IRS on Form 1099-C (.pdf file). "You should receive a copy," says Tracy Coenen, a forensic accountant whose practice, Sequence, assists taxpayers with tax audits and tax fraud investigations.

Things get more complicated with mortgage debt, and you may want to talk with a tax expert if you have restructured your home loan. Coenen notes that canceled mortgage debt on your primary residence may be eligible for exclusion from income under the Mortgage Forgiveness Debt Relief Act, which applies to debt forgiven starting in 2007. The law remains in effect through 2012.

2. Report all your jobs.

Several readers admitted that they've forgotten to include some sources of income. One woman said she neglected to include her husband's $27,000-a-year job in 2008, and still owes a fine of $3,400. "I think this is just about as stupid as one can get!" she wrote. Another forgot about two weeks of work her husband put in for one company. Even though they filed for the correct amount once they got the W-2 Form, she wrote, "HUGE problem!"

3. A tax break for what? Don't get scammed.

If it sounds too good to be true, it probably is. One reader told of following up on a radio pitch that offered a tax credit for creating a website accessible to the blind. The company, also a tax preparer, set up a website for the reader -- for a fee. He said the cost of setting up the site was about equal to the tax break. Then three years later, he got a "fat envelope" from the IRS telling him he had to prove he had a legitimate website or pay the IRS $2,000. "I wrote them a check the next day."

4. Handle your Roth IRA with care.

Looking forward to tax-free income when you retire? That's the promise of a Roth IRA. Individuals who qualify can set aside after-tax income in the investment accounts, then withdraw the money (plus any investment gains) tax-free at retirement.

But such tax benefits don't come without restrictions -- including income limits on who can set up a Roth IRA. There are also complicated rules for how to convert a traditional IRA into a Roth IRA.

Such accounts have tripped up several of our readers. One said she improperly housed a Roth account inside an insurance vehicle. When she transferred the money out of the account, she had to pay a 10% penalty and count earnings as ordinary (taxable) income.

Another reader bemoaned the fact that he did not convert his traditional IRA into a Roth prior to 2010, when his income was particularly low and any taxes associated with Roth conversions could be spread over two years.

5. Don't let 'I do' undo you.

One woman told us that in the first year she was married, both she and her husband sent in tax returns, and both checked the "married filing jointly" status. They realized their mistake when the IRS sent them two refund checks. "It took nine months of writing and calling the IRS" to straighten things out, she recalled. "I still chuckle."

Another reader wrote that his wife claimed her son as a dependent the year after he got married. The rules for when you can claim adult children as dependents are complex, but marriage typically rules out the dependent tax break. "We ended up repaying the refund we got, as well as penalties," the reader writes.

Coenen says that a married, adult child can sometimes be claimed as a dependent on a parent's tax return if certain provisions are met. But the child can't also file a joint tax return with his or her spouse. "It is likely that the son in this case filed a tax return with his spouse, so the dependent exemption his parents attempted to take was later denied," Coenen says.
6. Was your student loan debt paid by your employer? Make sure the IRS knows.

If you're lucky enough to have your employer cover some of your student loan debt, don't forget the tax man. In the eyes of the IRS, it is pay and must be reported as income on your W-2. One reader, who assumed her employer had taken care of the arrangements, wrote on our Facebook page, "The Army gave me money towards a student loan and didn't hold back any taxes, I assumed they had, so now I'm paying the IRS back! Oops."

7. Don't be afraid to second-guess your tax preparer.

If your tax preparer's advice contradicts your past experience, get a second opinion from another preparer -- or, better yet, from the IRS. One reader spared us the details, but summarized her biggest tax mistake: "I listened to my tax preparer." About $25,000 in fines later, the reader said, "I should have checked with the IRS."

Another reader, who owns rental properties, missed out on deducting mileage for visiting the properties, as well as the cost of tools he used for repairs. He said he had his doubts, but he was in a rush, so he stuck with the advice of his tax preparer. He later confirmed that the deductions likely would have been allowed by the IRS.
8. If your taxes get complicated, consult a tax preparer.

This may sound like it contradicts tip No. 7. But many readers who told us about their dumb mistake said they regretted that they hadn't hired a tax professional. One reader messed up the paperwork for requesting a refund after moving to a new state. The mistake triggered an audit.
Another reader wrote: "Tax laws are constantly changing and there are deductions out there that you have no way of knowing about."
Ultimately, you are the one responsible for the accuracy of your income tax return. But a good tax preparer can save you time, money and headaches by fixing often silly and sometimes costly mistakes.
Credits: http://money.msn.com/tax-planning/8-tax-mistakes-that-can-cost-you.aspx

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

The 2011 Housing Market

noreply@blogger.com (ho) — Mon, 17 Jan 2011 16:07:00 +0000

Strictly speaking from a market perspective, there are five general factors that appear to be driving how the housing market will develop in 2011:

Employment: Certainly, it stands to reason that the higher the employment rate in this country, the healthier the housing market will be with new, willing entrants. Today’s employment data report was a good start to the year, with the headline unemployment rate dipping down to 9.4% (down 0.4%). Some noise in the data release, but hopefully a positive sign of things to come.

The Foreclosure Process: How long it will take to process, list, sell, and clear all the pending foreclosures will have a direct impact on the housing sectors inventory level. “Robogate” stalled the process in 4Q10, but with foreclosures once again being processed at the beginning of the year, the sooner we clear the existing inventory of foreclosures, the quicker we normalize the housing market.

Regulatory Changes: The future of Fannie/Freddie, the Dodd/Frank Act, Risk Retention, Compensation Rules -> all items that you may have heard about directly or on the periphery that will shape the way business is conducted and will indirectly impact the Real Estate sector in the year ahead.

Underwriting Guidelines: 90+% of production is now connected to some type of government agency. In order for that to change, private lenders are going to have to step up lending

Interest Rates: A lot of interest rate projections are based on what the economy does in 2011, and there is an inverse relationship between the recovery in the market and rates. Most economists project that if the economy stays cool, interest rates will trend lower. The hotter/quicker the economy recovers, the more interest rates will rise. The important takeaway is that rates are still at historical lows, with Fixed Rates loans starting with a 4 in many cases, and hybrid ARM’s still in the 3+% range.

Any questions please feel free to call us about the financial market and the local Central New Yrok real estate market.

Credits: http://www.weichert-princeton.com/2011/01/the-housing-market-in-2011/

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

There is Still a Tax Credit

noreply@blogger.com (ho) — Thu, 18 Nov 2010 17:55:00 +0000

As Veteran’s Day passed last week, we forgot to remind everyone to thank those who have served our country AND to remind everyone that eligible Veterans are still able to take advantage of the Federal Tax Credits that expired for the rest of the population a few months back.

Yes, eligible First Time Home Buying Veterans only need to be in contract by April 30, 2011 and close by June 30, 2011 to receive the up to $8000 tax credit on their income tax return.

And yes, eligible Repeat Home Buying Veterans can receive the up to $6500 credit.

And no, they do not have to take VA mortgages to get the credit (even though we have often discussed the benefits of VA financing in this space).

Scenarios to think about:

1. Home buying Veteran gets their tax credit to fund some home improvement

2. Or to buy furniture

3. Or to consolidate other debt

4. Or to pay discount points (two benefits here. One, the points are tax deductible. And two, they result in a lower rate to help qualify for bigger mortgage/better home or just lower the monthly carrying costs.)

5. What this tax credit may be able to do is ease the pain of a seller who is a veteran that has to lower their asking price because they will receive the benefit on their home purchase.
I have heard the arguments about whether or not the previous tax credits helped sell more homes, but I don’t think that matters because that is an “industry/political argument”. What I am talking about here is the opportunity for individual families that shouldn’t be wasted because of a lack of knowledge.

The mission of this is to get the information into the hands of the people. Well, people….are you going to make sure every Veteran you know is aware of this opportunity?

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

noreply@blogger.com (ho) — Fri, 12 Nov 2010 18:38:00 +0000

Special Offers and Rebates from ENERGY STAR Partners

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CLICK THE ENERGY STAR LOGO BELOW AND ENTER YOUR ZIP CODE TO FIND AVAILABLE OFFERS FOR YOUR AREA!

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noreply@blogger.com (ho) — Fri, 05 Nov 2010 19:39:00 +0000

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For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.comEmail: info@HodgkinsAndOHara.comFacebook: http://facebook.hodgkinsandohara.com/Twitter: www. twitter.com/hodgkinsohara

November Gardening Checklist

noreply@blogger.com (ho) — Fri, 05 Nov 2010 14:39:00 +0000

Winter is around the corner, and as the year draws to a close, so do many gardening tasks. But wait — the season isn't over yet. Your garden needs some pampering to help it through the cold and stormy months ahead and get it in good shape for next spring. (Don't we all?) And believe it or not, you can still plant bulbs for spring flowers, as long as the ground isn't frozen.

November gardening checklist

Your outdoor and indoor plants need some TLC before winter arrives next month. Here's what to do to get them ready for harsh weather.

Perennials

Depending on where you live, November may be "last call" for perennials.

If the ground hasn't frozen yet, plant spring-flowering bulbs such as crocuses, daffodils, tulips and hyacinths as soon as possible to beat the odds.

As perennials die, cut them back, and add them to compost.

Trees and shrubs

Gardening wisdom holds that pruning is best saved for later, as winter starts its long, cold wink. But planting is more fun anyway, right?

Keep moving in those trees and shrubs. The roots love late-autumn planting, which lets them overwinter before they have to call up the strength demanded by spring leafing.

Fertilizing should be stopped, unless leaves have been smaller than usual or displayed fall coloring too early, both signs of stress.

Roses can be mulched now.

Be sure roses, raspberries and crawling vines are securely staked; winter wind can wreak havoc on fragile or top-heavy plants.

Late in the month, use paper tree wrap around the trunks of saplings and other tender trees to protect them from the dramatic temperature changes ahead.

Transplanting

Plants, trees and shrubs are in their dormant cycle. At last, it's safe to transplant. Think azaleas, rhododendrons and even peonies.

Dig up a large root ball, including as much of the root system as possible.

Dig a new hole with enough room to give the root ball lots of good new soil to tempt growth.

Replant quickly, before the roots have a chance to air dry.

When you replant, use a mix of existing soil with plenty of peat moss and compost or processed manure, as well as some transplanting fertilizer.

Protect taller plants and trees from being whipped around by winter winds: Stake them until their roots are well-enough established to stabilize them.

Lawn care

Three words: Fall means fertilizing. And one or two last kisses from the lawn mower.

Apply slow-release winter fertilizer now, if you didn't do so in September or October, with a lime additive if necessary.

Keep up with mowing until your grass stops growing, and then give it one final shot to reduce the risk of winter disease and make it less inviting to rodents.

Winterizing

Even if you're not wild about braving the vagaries of November, you don't want to put this one off: Get started now on protecting tender plants, as well as pipes, planters and tools, from winter surprises.

Insulate outdoor water connections so that indoor pipes don't freeze or — you really don't want this to happen — burst.

After the ground has frozen 1 to 2 inches deep, mound straw, bark or sawdust around exposed roots and plant bases, particularly of strawberries and roses.

Lighten your load in the spring by turning over the soil in vegetable beds now.

After leaves drop from deciduous plants — including trees and fruit-bearers of all types — a dose of dormant spray will help protect them from diseases and insects. You'll want to give them a second dose in December and a final one in February.

Before you put flower boxes and other planters in winter storage (yes, that's a good idea), empty them out and bathe them with a mild solution of soap and bleach.

Drain and store hoses to prevent cracking.

Garden tools should be cleaned and oiled. Fill a bucket with a mixture of sand and oil, and glide your tools through the mixture with a sawing motion; the sand will revive their edges and the oil residue will help keep them rust-free.

Watering

November brings a welcome relief from watering chores — for the most part — but evergreens need one last bit of care.

The winter elements can spell "winter burn," or even death, to evergreens if they don't have enough water. Give them a final soak this month.

Weeding

Even on the cusp of winter, the need to weed continues. Think of it this way: If you don't deal with them now, they'll be happy hosts for diseases and insects, as well as make seed showers for future populations.

Take a look around the garden to find problem areas of crabgrass, and make a note to treat these spots in the spring with a pre-emergent herbicide.

Harvesting

Imagine having your own fresh vegetables at Thanksgiving — but then again, you may not have to.

If you planted pumpkins in July or August, they should be ready to be harvested right about now, when their shells are hardened and the plant has been killed by the first frost — just in time for pie.

Cabbage, Brussels sprouts and kale in the ground actually grow sweeter with the arrival of frost. Take advantage by harvesting them on the late side.

Extend the harvest season of root crops such as carrots, leeks and beets (being underground, they're protected from frost) by giving them a healthy layer of mulch.
Houseplants

By now, houseplants are easy roommates. Help them along by paying attention without overdoing it.

The time for fertilizing has come and gone. The reduced light of winter means they don't need as many nutrients, or as much water.

Flowering cactuses should be kept well-watered, and these especially should be kept away from drafts.
Give plants a misting now and then to help replenish moisture lost by indoor winter heating.

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

10 Reasons to Buy a Home

noreply@blogger.com (ho) — Fri, 15 Oct 2010 13:19:00 +0000

10 Reasons to Buy a Home

Now is a great time to buy! And, what's more, tomorrow will be a great time to own, because the fundamental strength of homeownership hasn't changed.

Why is now a great time to buy? Here are 10 reasons:
1. You can get a good deal. Prices are down 30 percent on average. They're at a level that makes sense for people's income.
2. Mortgages are cheap. At 4.3 percent on average for a 30-year fixed-rate mortgage, your costs to own are down by a fifth from two years ago.
3. You can save on taxes. When you add up the deductions for mortgage interest and others, the cost of owning can drop below renting for a comparable place.
4. It'll be yours. The one benefit to owning that never changes is that you can paint your walls orange if you want (generally speaking; there might be some community restrictions). How many landlords will let you do that?
5. You can get a better home. In some markets, it's simply the case that the nicest places are for-sale homes and condos.
6. It offers some inflation protection. Historically, appreciation over time outpaces inflation.
7. It's risk capital. If the economy picks up, you stand to benefit from that, even if you're goal is just to have a nice place to live.
8. It's forced savings. A part of your payment each month goes to equity.
9. There is a lot to choose from. There are some 4 million homes available today, about a year's supply. Now's the time to find something you like and get it.
10. Sooner or later the market will clear. The U.S. is expected to grow by another 100 million people in 40 years. They have to live somewhere. Demand will eventually outpace supply.

Source: Wall Street Journal, Brett Arends (9/16/10)

For more information, please feel free to contact us:

Phone:315.671.5478

Website: http://www.hodgkinsandohara.com/ Email: info@HodgkinsAndOHara.com

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Search ALL Central New York Homes Here- The Hottest Search Engine in Town!

noreply@blogger.com (ho) — Fri, 15 Oct 2010 12:59:00 +0000

The Raving Fan Club

noreply@blogger.com (ho) — Thu, 19 Aug 2010 15:11:00 +0000

From The Central New York Business Journal

noreply@blogger.com (ho) — Wed, 04 Aug 2010 16:16:00 +0000

Real estate poll: consumers say buy now, sell later
by Eric Reinhardt
7/20/2010

Consumers in the Syracuse, Utica-Rome, and Binghamton areas believe now is great time to buy a home, but a tough time to sell one.

The finding is part of the first quarterly survey of consumer real estate sentiment from the Siena (College) Research Institute (SRI) and the New York State Association of Realtors (NYSAR).

The survey measured real estate sentiment in the second quarter on buying and selling now and in the future in eight metropolitan-statistical areas in New York, including the Syracuse, Utica-Rome, and Binghamton areas.

A sentiment score of 0 in any category reflects equal levels of pessimism and optimism among survey respondents. Scores above 0 reflect optimism and scores below 0 reflect pessimism.

Overall sentiment scores combine the current and future sentiments on buying and selling a home.

The overall current sentiment is -8.8 in the Syracuse region, -24.5 in the Utica-Rome region, and -24.2 in Binghamton region. At the same time, the overall future sentiment is 24.2 in the Syracuse region, 9.8 in the Utica-Rome region, and 8.4 in the Binghamton area.

The sentiment scores on selling now are all double-digit figures below 0 in all three regions, while the scores on selling in the future are above 0 in single digits in the Utica-Rome and Binghamton areas and at 23.1 in the Syracuse region.

The sentiment on buying now among upstate New Yorkers is 33.8.

Statewide, the overall current sentiment score is -18.8, while the overall future score is 22.4.

"The sentiment scores confirm that across New York people know that the last year has chipped away at the housing market and real estate values," Donald Levy, SRI director, said in a news release. "But New Yorkers see value today and recognize that this may be one of the best times in quite a while to buy."

Contact Reinhardt at ereinhardt@cnybj.com

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

Commercial Properties in Central New York

noreply@blogger.com (ho) — Wed, 14 Jul 2010 12:30:00 +0000

Hey Check out Loopnet for the Hottest Commercial Properties Available in Central New York...

Click Here to Learn More!

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

The Central New York Business Journal:

noreply@blogger.com (ho) — Tue, 13 Jul 2010 18:52:00 +0000

"A good house can still sell in a time period between 30 and 45 days, Hodgkins says
“It has to be in a good location. It has to be in good condition, and it has to be priced to the market,” he says..."

VIEW FULL ARTICLE

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

8 Foreclosure Options

noreply@blogger.com (ho) — Tue, 13 Jul 2010 18:51:00 +0000

Check out the 8 options avaiable if you are ever in a possible foreclosure situation!

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

WATCH OUT! The 8 Forsclosure Myths That Will Cost You a Fortune!!!

noreply@blogger.com (ho) — Fri, 02 Jul 2010 13:51:00 +0000

Hey Guys, We've been asked a lot of questions about Foreclosures and Short Sales and have this great article for you that will clarify some of the "Myths". Check out the Link below and give us a call if you have any additional questions!

And Check Back Next Week for the 8 Foreclosure Options Available.

WATCH OUT! COMMON FORECLOSURE MYTHS!!

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.com Email: info@HodgkinsAndOHara.com Facebook: http://facebook.hodgkinsandohara.com/ Twitter: www. twitter.com/hodgkinsohara

Search All Homes For Sale in Manlius, NY

noreply@blogger.com (ho) — Thu, 17 Jun 2010 15:59:00 +0000

4511 O'Hara Drive, Watertown, NY | Powered by Postlets

noreply@blogger.com (ho) — Tue, 08 Jun 2010 14:28:00 +0000

4511 O'Hara Drive, Watertown, NY Powered by Postlets

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.comEmail: info@HodgkinsAndOHara.comFacebook: http://facebook.hodgkinsandohara.com/Twitter: www. twitter.com/hodgkinsohara

2003 Berwyn Road, Pompey, NY | Powered by Postlets

noreply@blogger.com (ho) — Tue, 08 Jun 2010 14:01:00 +0000

2003 Berwyn Road, Pompey, NY Powered by Postlets

For more information, please feel free to contact us: Phone:315.671.5478 Website: www.HodgkinsAndOHara.comEmail: info@HodgkinsAndOHara.comFacebook: http://facebook.hodgkinsandohara.com/Twitter: www. twitter.com/hodgkinsohara

OFFICE BUILDING: 2 Northern Concourse

noreply@blogger.com (ho) — Wed, 02 Jun 2010 19:18:00 +0000

This property is 65,000 sq. ft., two-story, multi-tenant suburban office building located on 8.85 acres in the town of Salina. The location affords an efficient commute from the entire Syracuse area. Zoning is 0-2, office and light industrial. Current parking is for 350 cars. This building has 2 main entry points, one on the North side and one on the East side. There are 2 truck docks and double on grade doors as well.

Route 11 to Northern Concourse
For more information, please feel free to contact us:
Phone:315.671.5478
Website: www.HodgkinsAndOHara.com
Email: info@HodgkinsAndOHara.com
Facebook: http://facebook.hodgkinsandohara.com/
Twitter: www. twitter.com/hodgkinsohara

FREE MARKET REPORT: Sign Up NOW!

noreply@blogger.com (ho) — Thu, 27 May 2010 19:59:00 +0000

For more information, please feel free to contact us: Phone: 315.671.5478 Website: www.HodgkinsAndOHara.com Email: Info@HodgkinsAndOHara.com Twitter: http://twitter.com/hodgkinsohara Facebook: http://facebook.hodgkinsandohara.com