North Texas Home Sales Up 18% in July

Despite high temperatures and current national economic news, the North Texas housing market made a huge rebound in July.

In a report released by the Texas A&M Real Estate Center single family home sales were up 18% in July 2011 compared to July 2010. While most experts expected an increase in sales very few saw an increase of this level.

“I think this proves that the North Texas area can rebound out of the housing slump sooner than other parts of the country,” said Patricia Szot, 2011 MetroTex President. “The most important factor to any real estate market is consumer confidence and we are starting to see that confidence return in DFW.”

Most areas of North Texas showed a marked increase in sales last month but the largest increase occurred in Denton County with a 36% boost compared to 2010.

“Despite incredible affordability and the lowest interest rates we will ever see there are some obstacles being discussed in Washington that could have a big impact on the industry, said Szot. “Any changes to eliminate the mortgage interest deduction or a mandatory 20% down payment on a qualified residential mortgage would be major threats to stabilizing the housing market.

6 ways to save money on school supplies.

1. Don't buy what you don't need

 

Every year parents make the mistake of going shopping for supplies before taking inventory of what they already have at home.

2. Check out swapping sites for freebies

swap.com and swapmamas.com are great places for scoring freebies such as clothes, shoes, books, backpacks and more

3. Three ways to save on tax-free weekend

 

In addition to getting the tax savings look for back to school discounts and additional coupons to get further savings.

4. Get thrifty

Shopping at second hand or consignment stores could be a good way to save money. You can often find new items with the price tags still attached at these stores. People have brought them in either because they were the wrong size or their kids didn't like them.

5. Download textbooks

Textbooks can be one of the most costly school supply items. The campus bookstore most likely will have the highest markup. Search online for better prices. You can also download textbooks for less. You can save 50% or more off the cost off a new textbook by downloading it from CafeScribe. You can also rent textbooks from "Kindle Textbook Rentals" for 30 days to a year for 80% off the price for the paper books.

 

6. Always look for free shipping

 

Make sure to look for free shipping offers if you buy school supplies online. Freeshipping.org will tell you which websites are offering free shipping for back to school.

 

DFW Named one of 10 Best-Performing Major Housing Markets

DFW ranked number four in a Clear Capital report of the high performing real estate markets in the U.S.  The ten highest performing major market metros are expected to improve their performance over the first half of the year, with five of the top 10 even expected to see modest gains, reports Clear Capital in its latest monthly Home Data Index.

While housing prices in the first half of the year were mostly negative among the metro areas, Clear Capital says the market is showing signs of stabilizing.

Top Performers
The following are the highest performing major markets based on first half 2011 data (January through June) and second half forecast, according to Clear Capital.

1. Washington, D.C.-Arlington, Va.
2. New York-Long Island, N.Y.-No. New Jersey, N.J.
3. Orlando
4. Dallas-Fort Worth-Arlington, Texas5. San Francisco-Oakland-Fremont, Calif.
6. Boston-Cambridge-Quincy, Mass.
7. Honolulu
8. San Diego-Carlsbad-San Marcos, Calif.
9. Rochester, N.Y.
10. Memphis, Tenn.

Yet, only five of these markets are expected to boast home price gains in the second half of 2011: Washington, D.C., New York, Orlando, Dallas, and San Francisco, according to Clear Capital.

Worst-Performing Markets
Meanwhile, the lowest performing markets were Virginia Beach-Norfolk-Newport News, Va.; Cleveland-Elyria-Mentor, Ohio; and Minneapolis-St. Paul-Bloomington, Minn., according to Clear Capital.

“While most individual markets are also projected to post losses for the year, it is clear prices have begun to level off and are not exhibiting as much volatility as we’ve seen since the downturn began,” says Alex Villacorta, director of research and analytics at Clear Capital.

Source: “Clear Capital Home Data Index Forecast Reveals Further Price Declines for Second Half of 2011,” Clear Capital (July 8, 2011)

Woodrow QB Hangs On To Lead In Online Poll

Woodrow Wilson High School quarterback Piers Christian held the lead in online polling to recognize the region’s best high school football players in districts 4A and 5A last week.

Woodrow quarterback Piers Christian — Photo by Gloria West

Woodrow Wilson fans did their best rallying to put Christian out front.

Christian led the field with 6,860 votes. His closest competitor, Jeff Thomas of Duncanville, recieved 5,657 clicks. Third place went to Corey Coleman of Richardson with 539 votes. there’s your perspective.
Nice job, Woodrow Nation and Piers Christian, voted the top high school footballer in a preview of the 2011 season.

Fourth Annual Blondes vs. Brunettes Powder Puff Football Game on Saturday, August 6 at SMU

A $25 donation or more will get you a ticket to the big game at SMU’s Westcott Field and after-party at Bryan Street Tavern on Saturday, August 6th. Kick-Off is at 7:30pm and is presented by Bud Light. Blondes vs. Brunettes Dallas is a powder-puff football game hosted as a way of raising money for the Alzheimer’s Association of Greater Dallas. BvB is a personal way for young professionals across the country to raise awareness and donations to help eradicate this grave disease. For more information visit http://bvbdallas.org/.

Ten Steps For Maintaining Foundations

1. Make sure that the soil around your foundation is graded so that the water flows away from the foundation. The soil should drop 4 to 6 inches in 4 to 6 feet.

2. Avoid trapping water against your foundation. Water can be trapped against the building by raised flower beds, using metal edging or other borders that do not have openings to allow water to escape, by sidewalks or other obstructions.

3. Place soaker hoses around your foundation to keep the soil damp during dry periods.

4. Keep the majority of the shrubs around your house under 3 feet tall. Large plants need large amounts of water, which can cause foundation problems.

5. If you have large trees around your house, and the trees are closer to your foundation that the height of the trees, consider installing root barriers to keep the trees from pulling water out from under the foundation.

6. Use the downspout extensions or splash blocks on all down spots.

7. Make sure that all paved surfaces that border your foundation slope away from your foundation. This is particularly important for pool decks.

8. Keep the soil around your foundation between 2 to 4 inches below the brick line or edge of your siding. The soil helps to hold the water in the ground and reduces seasonal settlement.

9. If your sewer becomes blocked or backed up, have it tested for leaks. Many times sewer blockages are caused by roots, which means there are openings in your sewer.

10. Leaking sprinkler lines and pool circulating systems cause foundation problems. Have your systems tested for leaks every two to three years.

Rosewood Sells The Mansion On Turtle Creek To Hong Kong Group

 

The Mansion on Turtle Creek is one of 19 properties in eight countries that are owned and operated by Rosewood Hotel & Resorts.

Rosewood Hotels & Resorts, the Dallas-based luxury hotel management company that operates the Mansion on Turtle Creek, has been sold to Hong Kong-based New World Hospitality hotel management company for $229.5 million, both companies said Monday.

In the deal, Rosewood, created in part by Dallas oil heiress Caroline Rose Hunt, gains access to more international markets while New World gains one of the world’s most lauded luxury brands.

“I believe there’s great opportunity … for Rosewood to grow, and much of that growth will be internationally,” said John Scott, president and chief executive of Rosewood Hotels & Resorts. “New World Hospitality approached Rosewood … earlier this year … with similar aspirations, with the belief that the Rosewood brand could be expanded more broadly and more globally.”

The deal is set to close July 29.

Rosewood Hotels & Resorts will operate as the premium luxury brand in New World Hospitality’s portfolio, which includes properties in China and Southeast Asia.

Scott said New World is developing projects in Asia that may adopt the Rosewood brand. But he added that they want the brand to grow “globally, not just regionally.”

Rosewood has 19 properties in eight countries, with such marquee names as the Carlyle in New York and Las Ventanas al Paraiso, a resort in Mexico,as well as the Mansion and the Rosewood Crescent Hotel in Uptown.

Going global

Rosewood has been working to expand its international reach for some time now.

In late 1997, a private investment fund headed by California-based Maritz, Wolff & Co. paid more than $150 million for a 50 percent stake in Rosewood Hotels, the company that grew from the 1979 launch of the Mansion.

Rosewood and the new investors formed Rosewood Hotels & Resorts LLC, “with a strategic objective of accelerating growth in the national and international luxury hotel markets,” according to Rosewood’s website.

New World now takes 100 percent ownership of Rosewood Hotels & Resorts.

On the rebound

The purchase comes as the luxury market continues to rebound from the bruising recession. The economic recession cut down on leisure travel and made CEOs hesitant to look like they were living it up while the nation was so down.

First-quarter receipts at the Mansion fell 40 percent in 2009 from 2008, and are now off only by 0.37 percent from 2008, according to the Texas comptroller.

Rosewood “fared better than some of our other luxury competitors because of our high repeat guest visitation,” Scott said.

Staying local

Rosewood Hotels & Resorts will continue to be run from Dallas with the existing management team, Scott said.

Caroline Rose Hunt, honorary chairwoman of Rosewood Hotels & Resorts and daughter of famed oilman H.L. Hunt, said in a statement that she sees a “bright future for Rosewood and all the people who contributed to its great success.”

“It is a source of satisfaction to know that Rosewood Hotels & Resorts will be joining a company that appreciates the heritage of Rosewood and the values on which it was built,” she said.

Investor eyes Dallas and other Texas markets for $40M fund

An investor has more than $40 million in capital to spend on income-producing commercial real estate in Dallas, Fort Worth, Houston, Austin and San Antonio.

Houston-based Flagship Properties Corp. has formed a joint venture fund with Houston-based Hines Global REIT Inc. called Flagship Capital Partners I L.P.

Flagship's David Mincberg, chairman and CEO, and Jarrod Foerster, senior vice president, will serve as co-managing principals of the fund.

The firm has previously headed up a number of commercial investments in the Dallas area, including office, retail and multifamily, Foerster said.

"We are looking for any income-producing commercial real estate with a value-added component," Foerster said.

The fund would be scalable and, if the more than $40 million of initial investment was well-received, the joint venture could invest additional funds, he said.

Dallas Business Journal - by Candace Carlisle

Dallas Symphony Orchestra at Exall Park on Tuesday

The Dallas Symphony Orchestra's annual Exall Park concert will begin at 8 p.m. Tuesday. Here are the details from the Bryan Place Neighborhood Association newsletter:

Exall Park is the place to be on Tuesday, June 14, as the friends and neighbors from all over enjoy the annual Dallas Symphony Orchestra's concert in the park.

Fast becoming an East Dallas tradition, the event will feature activities for the entire family, including a petting zoo, bounce houses, and face painting for the kids. A Dallas favorite, Kenny and The Kasuals, and Jerry the Magic Man will dazzle the crowd again this year before the symphony concert.

The event starts around 5:30 and continues till 9:00.

The concert in the park has been a significant fundraiser hosted by the Friends of Exall Park to continue beautifying our neighborhood gem. Proceeds earned and countless volunteers have allowed gardens and trees to be planted as well as other beautification projects.

So plan to come early and stay late as the stars come out. Bring a picnic basket and friends. Meet and make new friends. This is guaranteed to be an exciting event.


Exall Park is on Live Oak at Hall Street.

Below is a page from the book Park and Playground System, Dallas Texas - 1921-1923, published by the Park Board of the City of Dallas. (Click on the image to enlarge it.) The park has changed a bit since then. It's a little bigger and the lily ponds and some of the other features are gone, as is the nearby sanatarium. Check it out on Tuesday.

By: Nancy Visser/Reporter

Dallas - Fort Worth Lead Nation In Job Growth Again

Dallas-Fort Worth and Houston continue to lead the nation's largest metro areas in new jobs and the rate of job growth compared with a year earlier, the Bureau of Labor Statistics said Tuesday.
 
Total nonfarm employment in the 12-county North Texas area stood at 2,929,700 in April, up 83,100 over April 2010, said the bureau's regional commissioner, Stanley Suchman.
 
Job growth was up 2.9 percent, compared with 1.1 percent for the U.S.
 
North Texas has long been a leader in both job and population growth, and the trend has continued even in the economic downturn. That has helped keep unemployment below national and state averages.
 
Employment grew faster in Dallas-Plano-Irving in April, rising 62,900 jobs, or 3.1 percent. Fort Worth-Arlington added 20,200 jobs, up 2.4 percent.
 
Professional and business services, which were particularly strong in Dallas-Plano-Irving, added 24,700 jobs, up 5.9 percent. That was nearly double the U.S. increase of 3.2 percent.
 
Education and health services, including private but not public schools, added 19,600 jobs. Fort Worth-Arlington added 6.4 percent more positions in that category, and Dallas-Plano-Irving added 5.2 percent.
 
Trade, transportation and utilities in North Texas added 12,600 jobs, up 2.2 percent, compared with 1.2 percent for the U.S. Mining, logging and construction added 10,300 jobs, up 6.6 percent.
 
Financial activities added 9,600 jobs, up 4.2 percent, compared with a 0.4 percent loss nationally; leisure and hospitality, 7,500, up 2.7 percent, compared with 1.8 percent for the U.S.; and government, 4,000, up 1 percent, compared with a 1.7 percent U.S. drop. Government includes public schools.
 
Information lost 5,400 jobs, down 6.8 percent, compared with a U.S. loss of 1.2 percent. Fort Worth-Arlington was down 10.8 percent, and Dallas-Plano-Irving, 5.9 percent.

What Can A Seller Pay?

These are Fannie Mae, Freddie Mac, HUD and VA guidelines that all lenders have to follow.

VA-Seller can pay up to 4% of sales price towards closing cost.  On a VA you MUST have a termite report with no conducive conditions needing repairs.  Also, seller must pay $1300 of buyers closing cost.

FHA-Seller can pay up to 6% of the sales price towards closing cost.  There are not any seller required cost like there are on VA.  There used to be, but they were removed that many years ago.

Conventional loan- if buyer is putting down 5% the seller can pay 3% of the sales price towards closing cost.  If the buyer is putting down 10% to 25% the seller can pay up to 6%. If the buyer is putting down 25% or more the seller can pay up to 9% towards closing cost.

If the property is an investment property the seller can only pay up to 2% towards closing cost no matter how much the buyer is paying.


Source: Tammie Mitchell

Bank of America Foreclosed On By Homeowner

Collier County, Florida — Ever heard of a homeowner foreclosing on a bank?



It has happened in Florida and involves a North Carolina based bank.

Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff’s deputies foreclose on the bank.

It started five months ago when Bank of America filed foreclosure papers on the home of a couple, who didn’t owe a dime on their home.

The couple said they paid cash for the house.

The case went to court and the homeowners were able to prove they didn’t owe Bank of America anything on the house. In fact, it was proven that the couple never even had a mortgage bill to pay.

A Collier County Judge agreed and after the hearing, Bank of America was ordered, by the court to pay the legal fees of the homeowners’, Maurenn Nyergers and her husband.

The Judge said the bank wrongfully tried to foreclose on the Nyergers’ house.

So, how did it end with bank being foreclosed on? 

After more than 5 months of the judge’s ruling, the bank still hadn’t paid the legal fees, and the homeowner’s attorney did exactly what the bank tried to do to the homeowners. He seized the bank’s assets.

“They’ve ignored our calls, ignored our letters, legally this is the next step to get my clients compensated, ” attorney Todd Allen told CBS.

Sheriff’s deputies, movers, and the Nyergers’ attorney went to the bank and foreclosed on it. The attorney gave instructions to to remove desks, computers, copiers, filing cabinets and any cash in the teller’s drawers.

After about an hour of being locked out of the bank, the bank manager handed the attorney a check for the legal fees.

“As a foreclosure defense attorney this is sweet justice” says Allen.

Allen says this is something that he sees often in court, banks making errors because they didn’t investigate the foreclosure and it becomes a lengthy and expensive battle for the homeowner.

CBS News

http://www.digtriad.com/video/default.aspx?bctid=975232488001

Foundation Tip Of The Month

Now that summer is here and plants are growing, remember not to let the ones around your foundation grow taller than 3 feet.  Keep bush and shrub trunks at least 3 feet from the house so you can still place soaker hoses between them and the foundation.  If you plant trees, consider installing a moisture barrier at the same time to prevent future issues.

Open House | Sunday June 5, 2011 | 2PM-4PM | 5411 Merrimac Avenue, Dallas, TX 75206 | See Flyer For Details

FREE BREAKFAST FOR ALL DISD STUDENTS

Dallas ISD was selected to share a $3 million Walmart Foundation Grant to fund the Breakfast in the Classroom program. This program provides free breakfasts to all students in their classrooms while they start on their daily lessons. Several DISD schools participated in this program this year and for the 2011-2012 school year it will be expanded to all schools.

Mortgage Rates Hit New 2011 Low

Rates on fixed-rate mortgages dropped slightly this week, hitting new lows for the year, according to Freddie Mac which just released the results of its latest Primary Mortgage Market Survey.

Although lower rates often trigger applications for refinancing, loan demand from buyers who wish to purchase has also picked up and was slightly stronger a year ago, according to a separate survey by the Mortgage Bankers Association.

Freddie Mac's survey showed rates on 30-year fixed-rate mortgage averaged 4.6 percent with an average 0.7 point in the week ending May 26, that's down from 4.61 percent last week, and 4.84 percent a year ago.

Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 of 4.17 percent during the week ending Nov. 11, 2010, before climbing to a 2011 high of 5.05 percent in February.

Rates on 15-year fixed rate mortgages averaged 3.78 percent with an average 0.7 point, down from 3.8 percent last week and 4.21 percent a year ago. Rates on 15-year mortgages hit an all-time low in records dating back to 1991 of 3.57 percent in November.

Renting vs Owning

You may be able to own a home for not much more than you are paying in rent. Check the chart below to see how quickly rent payments can add up. Maybe it’s time for you to invest that money in something that lasts — a home of your own.

Monthly rent	3 years	10 years	15 years	30 years
$500	$18,000	$60,000	$90,000	$180,000
$600	$21,000	$72,000	$108,000	$216,000
$700	$25,400	$84,000	$126,000	$252,000
$800	$28,800	$96,000	$144,000	$288,000
$900	$32,400	$108,000	$162,000	$324,000
$1000	$36,000	$120,000	$180,000	$360,000
$1250	$45,000	$150,000	$225,000	$450,000
$1500	$54,000	$180,000	$270,000	$540,000

For many homeowners, the after-tax cost of a home loan could be less than the cost of rent. That’s because the interest portion of each mortgage payment may be tax-deductible. In most cases, property taxes are also deductible. You should consult a tax advisor for details.

If you clients are thinking about buying a home I can help. Take the first step and contact me today!

Dodies Opening Next Week In Rebuilt Lower Greenville Building That Burned Down Last Year

Residents along Lower Greenville Avenue have watched fire destroy some historic buildings in their neighborhood twice in the last decade. Arcadia Theater was completely burned to the ground, and a vacant lot is all the remains where it once stood. It burned in 2006.

Where the 1930s building in the 2800 block burned last year, there was hope that the façade would hold up while the debris was cleared. For months, the front was reinforced with metal supports to keep it from toppling.

The new Art Deco-style building is nearly complete - and more than 80 percent of the original 1931 cast-stone and brick façade was preserved according to landlord Jon duPerier of Greenville Landmark Venture. This week, the first of three restaurants opens in the new building.
Chris McGuinness, owner of Dodie's Cajun restaurant, plans a soft opening this week with family and friends. They expect to be fully operational next week. With a roof-top deck, his inside oyster-bar sign, and the bar that opens directly to the sidewalk patio, this will definitely be a hot spot you will want to put on your restaurant list.

Dodie's is no new comer to the area. They have a restaurant just a few blocks south on Greenville Ave. and some of the best cajun seafood in the metroplex.

Dallas Mayoral Election

Well it appears we are headed for a runoff election for the city of Dallas Mayoral election. As Mike Rawlings clearly is the front runner in this election David Kunkle will apparently by the runner up in the runoff. Ron Natinsky ceded out of the election as he was unable to attain any significant amount of votes.

It looks like the runoff election will be scheduled for June 18th. Who do you think should be the next Dallas Mayor and why?

Only Blocks Away From White Rock Lake!

Spacious 4 Bedroom Home In The North Dallas Area

Texas Tops List For Job Growth

Forbes ranked all 398 current metropolitan statistical areas, based on employment data from the Bureau of Labor Statistics reported from November 1999 to January 2011 for Forbes' list of the best cities for jobs,. Rankings are based on recent growth trends, mid-term growth and long-term growth and momentum. Forbes, also broke down rankings by size since regional economies differ markedly due to their scale.

No place displayed more vibrancy than Texas. The Lone Star State dominated the three size categories, with the No. 1 mid-sized city, El Paso (No. 3 overall, up 22 places from last year) and No.1 large metropolitan area Austin (No. 6 overall), joining Killeen-Temple-Fort Hood (the No. 1 small city) atop their respective lists.

Texas, also produced three other of the top 10 smallest regions, including energy-dominated No. 4 Midland, and No. 10 Odessa.

It also added two other mid-size cities to its belt: No. 2 Corpus Christi and No. 4 McAllen-Edinburgh-Mission.

Whatever they are drinking in Texas, other states may want to imbibe.

California -- which boasted zero regions in the top 150 -- is a prime example. A group of California officials, led by Lt. Gov. Gavin Newsom, recently trekked to the Lone Star State to learn possible lessons about what drives job creation.

No. 1: Austin-Round Rock-San Marcos, Texas
2010 rank: 1
Overall rank (for big, mid-sized and small cities): 6
Nonfarm employment change: 1.5%

No. 3: Houston-Sugar Land-Baytown, Texas

2010 rank: 3
Overall rank (for big, mid-sized and small cities): 14
Nonfarm employment change: 1.9%

No. 4: San Antonio-New Braunfels, Texas

2010 rank: 2
Overall rank (for big, mid-sized and small cities): 17
Nonfarm employment change: 0.8%

No. 5: Dallas-Plano-Irving, Texas
2010 rank: 5
Overall rank (for big, mid-sized and small cities): 18
Nonfarm employment change: 2.3%

Walking Away From Your Mortgage Not a Good Idea

An estimated 11 million home owners owe more on their mortgage than their property is worth. This has caused more home owners to consider walking away from their mortgage and home ownership, even those who can still comfortably afford to make their payments, also known as strategic default.

When a homeowner walks away from a mortgage this usually results in either a short sale or foreclosure. There may be far more consequences than what most home owners have ever considered.

Also, there could be the potential for deficiency risks when walking away from a home, which largely varies from state to state. Lenders in some states may sue you for the difference between what you owe and what your short-sale or foreclosure proceeds are.

Home owners should also weigh the potential difficulty they may face from moving as well . If moving into a rental property, they’ll have to convince a landlord to rent to them after they have the red flag of missed mortgage payments on their credit record. Paying for moving expenses — which many walkaways fail to consider — can quickly add up as well.

As the number of employers eyeing employees’ credit profiles continues to grow home owners may also find professional consequences from walking away from a mortgage,

The consequences include everything from badly affected credit to potential tax consequences and deficiency risks. There are even possible professional implications. Home owners' credit scores will be badly hit regardless of whether they attempt a short sale or have their property foreclosed on.

Dallas, TX One Of The 5 Markets Ripe for Appreciation

Realtor.com recently unveiled a list of markets where property values are stabilizing, buyer traffic is picking up, and prices will likely appreciate soon. Here are the top five "turnarounds" on its list.

1. Buffalo-Niagara Falls, N.Y.: List prices are increasing, and days on the market for inventory is shrinking (87 days, which is nearly half the national average).

2. Los Angeles-Long Beach, Calif.: While housing values here have fallen 378 percent compared to the its 2006 housing peak, a turnaround is underway with list prices showing signs of stabilizing month-over-month and homes spending fewer days on the market. This area is also the third most-searched at Realtor.com, so buyer interest appears high.

3. Fort Myers-Cape Coral, Fla.: Vacation homes here are getting more pricey here: The median list price has risen 24.12 percent in March — the highest median price increase nationwide. However, distressed sales have weighed heavily on this market so prices are still 60 percent lower than the 2006 housing peak.

4. Dallas, Texas: Median list prices are down only slightly by 1 percent year-over-year, and the median age of Dallas' inventory stands at 100 days. While home values here have dropped about 10 percent from their peak (national median drop was 31 percent), Dallas has not faced as steep of property value declines as other bigger cities.

5. Boston, Mass.: Demand for homes here is starting to pick up. The median age of inventory is 130 days, which is 30 days below the national average. Median list prices are down just slightly — 0.26 percent — year over year.

Gallup Poll: Americans Say Buy Now

Zillow.com reports that with dropping home values in many markets mixed with interest rates at historical lows, homes are more affordable now than they’ve been in the last 35 years, 

The average buyer in todays market can expect to spend about 17 percent of their monthly gross income on a mortgage, which compares to a 25 percent average since 1975 according to Zillow.com. 

With affordability high, Americans seem to be getting the message about the value of home ownership. According to a recent Gallup poll nearly 70 percent of Americans say now is a good time to buy a home.

Americans living in the West are more favorable toward buying (75 percent), which compares to 64 percent of Americans who live in the South who say now is a good time to buy. 

According to the Gallup poll Americans with higher incomes also show more of an interest in home ownership. Americans who make $75,000 or more a year are 18 percent more likely to say that 2011 is a good time to buy a home than those making $30,000-$75,000.

Air Conditioning Equipment: Repair or Replace?

Deciding whether to repair or replace central air conditioning equipment? Assess the quality of your house's ductwork and insulation first!

If your air conditioner is more than eight years old, repair is probably not worth the expense, unless it's a simple problem like debris clogging the condenser unit or a worn fan belt. To best weigh your repair-or-replace decision, ask your contractor to assess the condition of your existing equipment, and also the ducts that deliver the cool air and the overall quality of the insulation in your house. Improving those elements might increase the effectiveness of the HVAC system as much or more than installing a new system.

Assess the efficiency of your current system

Even if your central air conditioner is just eight to 10 years old, it could suck up to twice the electricity that even a low-end new one would use. That's because it operates at or below 10 SEER, or Seasonal Energy Efficiency Ratio, which is the amount of energy needed to provide a specific cooling output. Until 2006, 10 SEER was standard, but these days, the minimum allowed by federal law is 13 SEER. That translates to 30% less electrical consumption and 30% lower cooling bills than equipment installed just a few years ago.

A new 13 SEER unit will cost $3,000 to $4,000 for an 1,800 square foot house. Double your energy savings by jumping up to 16 SEER, which reduces cooling expenses by 60% over a 10 SEER unit. These super-efficient units are more expensive At $5,000 to $6,000, but they may qualify for a federal tax credit, and possibly local incentives, too.

Inspect the condition of the ductwork

Mechanicals are only part of the central air system.You could upgrade to the highest efficiency gear available and still not feel comfortably cool on hot days. The average house's ductwork leaks 10% to 30% of its air before it can reach your living space. Before deciding whether to repair or replace your condenser and blower units, your technician should run a duct-leakage test, by sealing the vents and measuring how much air escapes the system.

If the ducts are inefficient, he can locate and seal the gaps, typically for $25 to $35 per vent (per "run" in industry jargon), or replace the ductwork entirely with new, insulated pipe for around $100 per run. Your technician may recommend doing the duct improvements in conjunction with replacement of the mechanicals or may recommend only one or the other job.

Consider the building envelope itself

Resolving the house's ineffeciencies may mean that your old system will have enough cooling power to continue to do the job for a few more years. If your house is poorly insulated, it strains your aging air conditioner. 

Your heating and cooling contractor should assess and, if necessary, upgrade the building envelope. For example, seal gaps and cracks in the outer walls and attic floor, or blow insulation into the walls, either of which could knock as much as 30% off your heating and cooling costs. Insulation also may get you a federal tax credit, and may be a more effective solution to your cooling problems than replacing your equipment.

Make sure a new system is sized right

Make sure the contractor's bid includes a load calculation, which is a computer printout showing how big a system you need and why.

Air conditioning is measured by the ton, which is the cooling power of a one-ton block of ice melting in 24 hours. Some installers use a ballpark estimate for sizing equipment, one ton for every 400 or 600 square feet of living space. But, that typically leads to systems that are too big, according to some. Not only do oversized systems cost more, but they also do their cooling work too quickly, which results in more frequent on/off cycles. This can wear out key components a lot quicker. They also wouldn't have a chance to effectively dehumidify the air.

Use contractors that use load-calculating software that factor in such data as the number of windows in your house, the thickness of insulation, the configuration of the attic, and the building's orientation to the sun. It produces not only an exact tonnage requirement, but determines how much cool air each room needs. Get at least three bids from licensed well-regarded companies that include this one-page printout.

Woodrow Wilson High School earns International Baccalaureate World School title

Following an intense, two-year screening process and teacher training by the International Baccalaureate Organization, Woodrow Wilson High School now is officially an International Baccalaureate World School. The IB program is an honors curriculum for juniors and seniors that provides them with the skills to compete globally and prepares them to become critical thinkers. An IB diploma is recognized by universities around the world.
Students enrolled in the IB program at Woodrow Wilson High School will take three higher-level courses and three standard level courses, complete an interdisciplinary philosophy course, and meet other stringent requirements. Students who complete all IB diploma requirements and score a four or higher on all exams may earn up to 24 hours of college credit. Dallas ISD students who live outside the Woodrow Wilson attendance zone must apply for acceptance into the program through Dallas ISD Parental School Choice.