Family Travel Five: Make Your Vacation Picture-Perfect

(MCT)—Smile: It’s a family photo. Here are ideas for adding photographic interest to your vacation and some contact info for finding destinations.

1. People pictures. Including people in your shot adds tremendous interest. Encourage family members to be the focal point of landscape images, providing context and great memories. Capture the faces of those who live in the places you visit to add human interest to monuments, scenes or cityscapes.

2. Capture color. Markets, festivals and parades often provide an array of colorful subjects and unique experiences that will help tell the story of your family adventure. At the market, for example, be on the lookout for brightly colored vegetables, fruits, meat or fish unlike those in your local grocery store. Stoke your children’s natural curiosity by asking the vendor to explain the origin of items.

3. Give animal photos a shot. Whether at the zoo, in the countryside, on safari or within a national park, snapping photos of critters can be an enriching experience. Will you get the shot when the lion roars, the giraffe reaches upward or the monkey swings from the branch? Remember that animals in the wild are just that: wild. Keep a proper distance.

4. Get in on the action. It’s fun to capture the movement and the exhilaration of the adventure — whether it’s wild rides at the theme park, bike or running races or rafts in the rapids.

You don’t need a fancy camera to create fun shots that tell the story. Try clicking the shutter while moving your body at the same pace as the action you want to record.

Compare notes and consider experimentation part of the family experience.

5. Use your camera to take notes. Snap a photo of your parking space, your hotel address and room number, restaurants that make your favorite list and the designated family meeting spot.

When you are visiting a new environment or feel like you’re dragging after a full day of traveling, it can be difficult to remember life’s more mundane details.

Lynn O’Rourke Hayes is the editor of FamilyTravel.com.

©2014 The Dallas Morning News

Distributed by MCT Information Services

The Most Popular Features to Improve the Performance of Your Home

According to a new National Association of Home Builders (NAHB) Remodelers survey, high-performing, Low-emissive (Low-E) windows are the most common green building products used by residential remodelers. To kick off National Home Remodeling Month in May, NAHB released the survey results, which highlight the most common building features that home owners are using to improve the energy efficiency of their homes.

“The improved availability and affordability of high-performing building products means energy-efficient features are being incorporated into more home improvement projects,” says NAHB Remodelers Chair Paul Sullivan, CAPS, CGR, CGP, of Waterville Valley, N.H. “Remodeling can not only improve the overall layout and features of a home, but depending on the upgrades you choose, you can also save money on utilities, improve indoor air quality and strengthen the long-term value of your home.”

The most popular green building features in the survey of residential remodelers in the first quarter of 2014 are:

• High performance windows including Low-E and Argon gas windows
• High efficiency HVAC systems • Programmable thermostats
• ENERGY STAR appliances

Other popular features include ceiling fans, moisture control products such as bathroom fans, water conserving fixtures and high performance insulation.

The usage of technology to improve a home’s performance has increased dramatically during recent years. Seventy percent of remodelers says they used programmable thermostats, an increase from 42 percent in 2011. Sixty-two percent of remodelers used ceiling fans in their remodels, compared to 37 percent in 2011.

Over the next five years, the percentage of remodelers who expect to be doing more than 60 percent of their projects green will double, according to the McGraw Hill Construction green building study in conjunction with NAHB.

“The lower operating and maintenance costs of energy-efficient homes are a compelling reason for more home owners to incorporate green features in their remodeling designs,” says Sullivan. “A professional remodeler can help maximize the benefits of including these features in a remodel. The survey results provide useful examples of ways to increase a home’s efficiency, decrease costs and take advantage of the other benefits that high performance green homes offer.”

For more information, visit www.nahb.org/remodel.

Housing Affordability Edges Higher in First Quarter

Slightly lower median home prices along with steady mortgage rates contributed to higher housing affordability in the first quarter, according to the recently released National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 65.5 percent of new and existing homes sold between the beginning of January and end of March were affordable to families earning the U.S. median income of $63,900. This is slightly higher from the 64.7 percent of homes sold that were affordable to median-income earners in the fourth quarter.

Meanwhile, the national median home price dipped from $205,000 in the fourth quarter to $195,000 in the first quarter while average mortgage interest rates were virtually unchanged, moving from 4.54 percent to 4.57 percent in the same period.

“Housing affordability remains strong and this is an encouraging sign as the spring home building season moves into high gear,” says NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del.

“As home prices and mortgage interest rates are unlikely to go down, the first quarter HOI is another indicator that this is an opportune time to buy,” says NAHB Chief Economist David Crowe.

Syracuse, N.Y., was the nation's most affordable major housing market, as 93.7 percent of all new and existing homes sold in this year's first quarter were affordable to families earning the area's median income of $67,700. Meanwhile, Cumberland, Md.-W.Va., claimed the title of most affordable smaller market, with 96.3 percent of homes sold in the first quarter being affordable to those earning the median income of $54,100.

Other major U.S. housing markets at the top of the affordability chart in the first quarter included Buffalo-Niagara Falls, N.Y.; Youngstown-Warren-Boardman, Ohio-Pa.; Harrisburg-Carlisle, Pa.; and Dayton, Ohio; in descending order.

Smaller markets joining Cumberland at the top of the affordability chart included Springfield, Ohio; Kokomo, Ind.; Mansfield, Ohio; and Lima, Ohio.

For a sixth consecutive quarter, San Francisco-San Mateo-Redwood City, Calif., held the lowest spot among major markets on the affordability chart. There, just 13.3 percent of homes sold in the first quarter were affordable to families earning the area's median income of $100,400.

Other major metros at the bottom of the affordability chart included Santa Ana-Anaheim-Irvine, Calif.; Los Angeles-Long Beach-Glendale, Calif.; New York-White Plains-Wayne, N.Y.-N.J.; and San Jose-Sunnyvale-Santa Clara, Calif.; in descending order.

All of the five least affordable small housing markets were in California. At the very bottom of the affordability chart was Santa Cruz-Watsonville, where 21.1 percent of all new and existing homes sold were affordable to families earning the area's median income of $77,900. Other small markets at the lowest end of the affordability scale included Napa, Salinas, San Luis Obispo-Paso Robles, and Santa Rosa-Petaluma, respectively.

For more information, visit www.nahb.org/hoi

Written by RISMedia

Home Prices Will Continue to Rise, Report Says

Most homeowners across the nation have been enjoying an upswing in their home values, and home-sale prices are expected to continue rising for at least the next several months, according to CoreLogic’s latest Home Price Index Report.

The report, which analyzed data through February, showed home prices—including distressed sales—were an average of 12.2% higher compared to the same time last year. Home prices showed the highest annual appreciation gains in these five states:

California – 19.8%
Nevada – 18.5%
Georgia – 14.2%
Oregon – 13.8%
Michigan – 13.5%

The report predicted home prices, when including distressed properties, would see a rise of 10.5% from March 2013 to March 2014. When excluding distressed properties, prices are expected to rise 9.3%.

CoreLogic expects home prices will continue to rise over the next several months, leveling off by year’s end.

Home prices have increased year-over-year for 24 consecutive months, although through February they were still 16.9% below the peak levels reached in April 2006, according to CoreLogic.

Realtor.com®’s National Housing Trend Report for February 2014 showed home sellers’ growing confidence in the market as the number of homes for sale increased.

“The number of properties for sale in February rose 10.1% above February 2013 levels, to 1,744,032 units,” the realtor.com® report said. “The median list price at $199,000 increased 7.6% compared to the same month last year, and the median age of inventory increased 6.5% above year-ago figures, to 114 days.”

“Although prices should remain strong in the near term due to a short supply of homes on the market, price increases should moderate over the next year as home equity releases pent-up supply,” Mark Fleming, chief economist for CoreLogic, said in a statement.

Homeowners who struggled to build equity in their homes during the recession may be able to breathe a sigh of relief now as the market continues to stabilize and buyers and sellers gain confidence.

Written by Angela Colley - REALTOR.com

Positive Signs Crop Up Heading into Spring Homebuying Season

Recent month-to-month volatility in the housing market has softened the ongoing recovery. However, the majority of the Fannie Mae National Housing Survey indicators on consumer attitudes have continued to move in a positive direction during the past year, which may portend a pick-up in homebuying and selling activity this spring. According to Fannie Mae’s March 2014 National Housing Survey results, the share of survey respondents who say it is a good time to sell a home climbed to 38 percent last month, compared to 26 percent at the same time last year. In addition, the share who believe it would be easy to get a mortgage today increased to 52 percent, compared to 47 a year ago, and tying the all-time survey high. Americans’ attitudes regarding their personal finances have also improved – those who expect their financial situation to worsen during the next 12 months decreased to 12 percent, a significant drop from 21 percent at the same time last year, and the share who say their personal financial situation improved during the past year reached an all-time survey high of 40 percent.

“The housing recovery continues to proceed in fits and starts. Rising mortgage rates and a lack of supply have dampened housing market momentum,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “However, we see several positive signs going into this year’s spring homebuying season, compared with last year. For example, consumers are less pessimistic about their personal finances, and more optimistic about the current selling environment and their ability to get a mortgage. Still, those who are pessimistic about buying or selling a home today tend to point to economic conditions as the primary issue, and most consumers continue to say the economy is on the wrong track. Looking forward, we expect to see a pick-up in economic growth later in the year, and this may boost the confidence of prospective buyers and sellers.”

Homeownership and Renting

• The average 12-month home price change expectation decreased from last month, to 2.7 percent.

• The share of respondents who say home prices will go up in the next 12 months decreased slightly to 48 percent, while the share who say home prices will go down decreased to 5 percent, an all-time survey low.

• The share of respondents who say mortgage rates will go up in the next 12 months decreased to 54 percent, and those who say they will go down fell to 3 percent, tying the all-time survey low.

• Those who say it is a good time to buy a house increased slightly from last month to 69 percent and those who say it is a good time to sell a house increased 4 percentage points from last month to 38 percent.

• The average 12-month rental price change expectation decreased slightly from last month to 4.2 percent.

• Fifty-two percent of those surveyed say home rental prices will go up in the next 12 months, a slight increase from last month.

• Fifty-two percent of respondents thought it would be easy for them to get a home mortgage today, tying the all-time survey high first reached in January.

• The share who say they would buy if they were going to move increased 2 percentage points to 68 percent.

The Economy and Household Finances

• The share of respondents who say the economy is on the right track continued on a downward trend – decreasing 2 percentage points from last month to 33 percent.

• The percentage of respondents who expect their personal financial situation to stay the same over the next 12 months increased 4 percentage points to 45 percent, tying a survey all-time high.

• The share of respondents who say their household income is significantly higher than it was 12 months ago decreased 3 percentage points, to 21 percent.

• The share of respondents who say their household expenses are significantly lower than they were 12 months ago fell one percentage point to 8 percent, tying the all-time survey low.

For more information, visit http://www.fanniemae.com/progress.

Article provided by RISMedia

Alternative Ways to Pay Off Your Mortgage Early

(MCT)—A standard, fully amortizing mortgage pays off the balance over the term. With a 30-year term, this requires 360 monthly payments, while a 15-year term requires 180 payments. Many lenders, however, offer special loan repayment programs that promise to pay off the balance before term, without imposing much of an added burden on the borrower. Here are the most common of these schemes, as well as an alternative that borrowers can adopt on their own.

BIMONTHLY PAYMENT PLANS: On a bimonthly payment plan, the borrower’s monthly payment in split into two pieces of equal size, one due on the 15th of the month and the other on the first. While the borrower makes 24 payments a year instead of 12, they add to the same total. However, the lender credits the half-payment on the 15th to the balance on that day, which reduces the interest due on the first of the month.

While the reduction in interest shortens the period to payoff, the impact is small. On 30-year mortgages with rates of 6 percent or less, payoff occurs after 719 half-payments, shaving just one-half of a month off the term. On a 7 percent mortgage, payoff occurs after 718 half-payments, accelerating payoff by one month.

There isn’t anything wrong with the bimonthly mortgage, provided that paying twice a month is convenient and you don’t give up anything of value to get it. Readers have reported to me that loan officers touting the bimonthly have told them that the term would be reduced to 23 or 24 years, which is nonsense. You can check this out yourself with a spreadsheet on my website called “Extra Payments on Bimonthly Payment Fixed-Rate Mortgages.”

This spreadsheet also allows you to assess the impact of additional bimonthly payments, which some borrowers might find an attractive option. As an example, the borrower with a $200,000 mortgage at 4 percent who pays $477.42 twice a month gets to a zero balance just half a month early. But if the borrower rounds off the payment to $500, payoff occurs after 659 payments, or 30.5 months early.

BIWEEKLY PAYMENT PLANS: A biweekly mortgage is one on which the borrower makes a payment equal to half the monthly payment every two weeks. The payment amount on a biweekly is thus the same as that on a bimonthly. But since there are 26 biweekly periods in a year compared to 24 bimonthly periods, the biweekly produces the equivalent of one extra monthly payment every year.

This results in a significant shortening of the term. For example, the 4 percent, 30-year loan converted to a biweekly pays off in 310 months — or 25 years, 10 months. The reduction in payoff period is due entirely to the extra payment every year. Payments are credited monthly, not biweekly, so there is no intra-monthly interest savings comparable to that on a bimonthly.

There have been biweekly plans in which payments are credited biweekly rather than monthly, but they have been overpriced, and their advantage is small. In the example directly above, the payoff period would be 25 years 7 months, or 3 months less than when payments are credited monthly.

Note that the benefits of any extra payment program increase with the level of interest rates. Using the same example, the payoff period is 286 months at 7 percent compared to 310 months at 4 percent. All these numbers on biweeklies are drawn from another spreadsheet on my site titled Biweekly Mortgages.

ROLL YOUR OWN EXTRA PAYMENT PLANS: Borrowers who like the idea of accelerating the payoff need not pay extra for the privilege; they can do it themselves. By increasing their monthly payment by 1/12, they will pay off in about the same time as a standard biweekly. At 4 percent, payoff is one month later, while at 7 percent it is one month earlier.

The major difference between a plan administered by a lender and one administered by the borrower is that the first is mandatory, providing a discipline that some borrowers may value. Doing it yourself means that you don’t have to do it, which is an advantage to some but a drawback to others.

Written by Jack Guttentag - RISMedia

Keep your home safe while you're away on vacation

Ways to protect your home and its contents while you're away range from simple to high tech. Here are some ideas to secure your home when you're on vacation.

1. Consider a house sitter. It may be an added expense, but having a trusted person stay at your home is a great defense against burglars.
2. Don't advertise you're away. Don't leave an outgoing voicemail stating you're out of town. Also, refrain from listing vacation dates on social media, such as Twitter and Facebook.
3. Invest in an alarm system.
4. Put all lights on timers, so it appears someone is home. A lighted home is a deterrent for break-ins.
5. Have the post office hold your mail and put your newspaper delivery on hold. An overstuffed mailbox and unopened newspapers on the lawn are a signal you are not at home.
6. Leave all doors and windows locked. When possible, utilize dead bolts and secure sliding glass doors by placing a rod in the door groove.
7. Alert police and a trusted neighbor to be on the lookout for any suspicious activity.
8. Remove any spare keys that are hidden outside the house. Instead, give a key to a trusted neighbor or family member to regularly check the house.