Use An Automatic Stirrer To Keep Foods From Burning And Pots From Scorching

It doesn't take much effort to stand over a pot and "stir continuously", as called for in some recipes. It can be tedious, though, and once a chef stops stirring or leaves a pot unattended, the recipe is sure to ruin.

Enter the automatic stirrer.

With its self-adjusting, self-centering blades, the Ardenté Gourmet Stirrer latches on to the side of most kitchen bowls, and does that stirring for you. The machine's constant blade-turning protects your milk-based recipes from burning; your sauce-based recipes from charring; and your temperate-sensitive sugars from caramelizing.

While it does its job, you're freed up to tend to other tasks in the kitchen, or to spend time with family around the house.

It protects your pots from scorching, too.

The Ardenté Gourmet Stirrer runs on 4 C batteries and can be run continuously, or intermittently. Its blades run at different heights to promote consistency, and are dishwasher-safe for easy clean-up.

You can buy the automatic stirrer in white or black on Ardenté's website, or on Amazon. It retails for $59.95.

For Sale: 3BR/2BA Single Family House in Clarkson, NY, $140,000

For Sale: 3BR/2BA Single Family House in Clarkson, NY, $140,000

New Home Sales Reach 8-Month High

Sales of new homes rose sharply in December, posting a 17.5 percent gain from the month prior.

According to the Department of Housing and Urban Development, New Home Sales climbed to 329,000 in December, besting November by close to 50,000 units on a seasonally-adjusted annual basis.

Last month's reading is an 8-month high for New Home Sales, and the latest in a series of signals that housing is improving in Rochester and around the country.

Note that December's Existing Homes Sales and Building Permits reports also showed marked gains last month, climbing 12 percent and 6 percent, respectively.

Furthermore, an interesting pattern is emerging in the price points of home sales. The highest levels of relative growth are occurring within the "move-up buyer" segments. Entry-level price points are lagging the market, as a whole.

December's New Home Sales data breaks down by price point as follows:

• Homes under $200,000 : 36% of the market (-9% from November)
• Homes between $200,000-$299,999 : 32% of the market (+7% from November)
• Homes between $300,000-$499,999 : 27% of the market (+7% from November)

Luxury homes accounted for less than 5% of the newly-built home market, suggesting that New York homeowners are either not "buying new" as frequently, or are choosing to renovate their existing properties instead.

The 2010 housing market finished on a tear, and that momentum is carrying forward into 2011. Expect the spring season to show strongly, putting pressure on home prices to rise.

Coupled with rising mortgage rates, the long-term cost of homeownership is unlikely to be as low as it is today.

A Simple Explanation Of The Federal Reserve Statement (January 26, 2011 Edition)

Today, the Federal Open Market Committee voted 10-to-0 to leave the Fed Funds Rate unchanged within its target range of 0.000-0.250 percent.

In its press release, the FOMC noted that since December's meeting, economic growth is ongoing, but at a pace deemed "insufficient" to make a material impact on the jobs market. In addition, the Fed said household spending "picked up" late last year, although it continues to be held back by joblessness, tight credit and lower housing wealth.

This is similar to the language used in the FOMC's November and December 2010 statements.

Also like its last two statements, the Fed used this month's press release to re-affirm its plan to keep the Fed Funds Rate near zero percent "for an extended period", and to keep its $600 billion bond market support package in place.

And finally, of particular interest to home buyers and mortgage rate shoppers, for the second straight month, the Federal Open Market Committee's statement contained an entire paragraph detailing the Federal Reserve's dual mandate of managing inflation levels, while fostering maximum employment. 

The Fed acknowledges progress toward this goal, but calls that progress "disappointingly slow". Inflation is too low right now, and joblessness too high.

Over time, the Fed expects both measurements to improve.

Mortgage market reaction to the FOMC has been positive since the statement's release. Mortgage rates in Rochester are unchanged, but poised to improve.

The FOMC's next scheduled meeting is a 1-day event, March 15, 2011.

The Home Price Index Shows Flat For November

Home values were reported unchanged in November 2010, on average, according to the Federal Home Finance Agency's Home Price Index. 

We say "on average" because the government's Home Price Index is a data composite for the country. The index doesn't measure citywide changes in places like Rochester , nor does it get granular down to the neighborhood level.

Instead, the Home Price Index groups state data in 9 regions with each regions having as few as 4 states in it, and as many as 8.

Not surprisingly, each of the regions posted different price change figures for the period of October-to-November 2010.

A sampling includes:

• Values in the Pacific region rose +1.2%
• Values in the New England region rose +0.3%
• Values in the Mountain region fell -1.9%

The complete regional list is available at the FHFA website.

That said, none of these numbers are particularly helpful to today's home buyers and sellers and that's because everyday people don't buy and sell homes on the Regional Level. We do it locally and the government's Home Price Index can't capture data at that level.

It's a similar reason to why the Case-Shiller Index is irrelevant to buyers and sellers.

November's Case-Shiller Index showed home values down 1 percent in November, but that conclusion is a composite of just 20 cities nationwide -- and they're not even the 20 largest cities. Philadelphia, Houston and San Jose are conspicuously absent from the Case-Shiller list.

So why are reports like the Home Price and the Case-Shiller Index even published at all? Because, as national indicators, they help governments make policy, businesses make decisions, and banks make guidelines. Entities like that are national and require data that describe the economy as a whole. Home buyers and sellers, by contrast, need it locally.

Since peaking in April 2007, the Home Price Index is off 14.9 percent.

The Fed Meets Today. What It Means To Mortgage Rates.

The Federal Open Market Committee begins a 2-day meeting today in Washington D.C. It's the group's first meeting of 2011 -- one of 8 scheduled for the year.

The Fed meets every 45 days, on average. Its last meeting was December 14, 2010.

Rate shoppers and home buyers should make a note. Mortgage rates and home affordability could change dramatically beginning tomorrow afternoon.

Because Wall Street watches FOMC meetings closely, so should you. The meetings provide insight on the future of U.S. monetary policy, as told by the nation's central banker. Investors make trades based on the FOMC's commentary which is one reason why mortgage rates tend to undulate through the hours leading up to the FOMC's adjournment, and the days immediately after.

Wall Street is shifting old bets, and placing new ones.

A terrific example of this is what happened after the Fed's November 3, 2010 meeting.

In its post-meeting press release, the Federal Reserve announced a new, $600 billion, market-bolstering plan dubbed "QE2". Wall Street had widely expected the Fed to create the program, but had underestimated its size.

Starting a $600 billion program sparked fears of a Fed-led inflation run, which, in turn, caused mortgage markets to deteriorate in a hurry. In the 3 days following the program's announcement, mortgage rates spiked to multi-month highs and have not since recovered.

QE2 marked the beginning of the end of the Refi Boom and low rates. Today, conforming rates in New York are relatively low as compared to higher, but are much higher than they were prior to the FOMC's November 2010 meeting.

Then, December's FOMC meeting did little to change the direction of rates. We shouldn't expect that January's will, either. After the FOMC's 2:15 PM ET adjournment Wednesday, mortgage rates should resume climbing, as they have done for the past 10 weeks.

If you're shopping for a mortgage rate, therefore, the prudent move is to lock prior to Wednesday's FOMC adjournment because, after once the Fed's outlook is released, it will be too late. 

Home Supplies Plummet, Putting Pressure On Prices To Rise

Existing Home Sales surged 12 percent last month, closing 2010's housing market with strength. An "existing home" is a home that cannot be categorized as new construction; a resale.

According to the National Association of REALTORS®, seasonally-adjusted, annualized Existing Home Sales figures climbed by more than a half-million units in December as compared to November. It's the 3rd straight month of home resale improvement nationwide.

Sales volume is now as high as it's been since May 2010 -- just after the federal home buyer tax credit's expiration.

In addition, the number of months needed to sell the complete, current home inventory at the current pace of sales fell by 1.4 months, tying December for the biggest one-month home supply improvement in 2 years.

It's yet another signal that the housing market is in recovery. Not that this data should surprise anyone. November's Pending Home Sales report told us to expect it two weeks ago.

Broken down by buyer-type, home sales split as follows:

• First-time home buyers : 33% of all sales
• Repeat buyers : 47% of all sales
• Real estate investors : 20% of all sales

Cash buyers represented 29 percent of all transaction, down 2 ticks from November. This may suggest that mortgage guidelines are loosening -- another sign of economic improvement.

So, take note, Rochester home buyers. This spring, along with mortgage rates, home values should rise, too. Expect less "bang for your buck" as the housing recovery takes hold across the nation.

The best deals of the year may be the ones made this month.

Building Permits Surge In December; Signals A Strong Spring Housing Market

Each month, in conjunction with the Department of Housing and Urban Development, the Census Bureau releases its New Residential Construction report. The report is comprised of several sections, one of which counts the number of homes that have "broken ground" in New York and nationwide.

They're called "Housing Starts" and, by most measures, they faded quickly as 2010 came to a close.

According to the Census Bureau's report, Housing Starts of single-family homes fell to 417,000 units on a seasonally-adjusted, annual basis. The figure marks a 9 percent drop-off from November, and is the lowest reading since May 2009.

Not surprisingly, the press went bearish on housing post-release:

• U.S. Home Building Stuck Near 50-Year Lows (AFP)
• Housing Starts Slowed Sharply In December (New York Times)
• Housing Starts Fall In December To One-Year Low (Bloomberg)

Despite being truthful, these headlines are somewhat misleading. They each ignore a key element of December's New Residential Construction report -- Building Permits. Building Permits rose 6 percent to an 8-month high last month.

A building permit is a local-government certification that authorizes home construction. 

Permits are a precursor to Housing Starts with 82% of homes starting construction within 60 days of permit-issuance. More permits in December, therefore, should lead to more Housing Starts in January and February.

It's unclear whether permits were up because the economy was improving, or because builders raced to beat new building code for 2011. Regardless, expect additional "new home" supplies this spring which would ordinarily help home prices drop if not for the normal surge in spring buyers to gobble those new homes up.

Look for home prices to stay flat, but with rising mortgage rates contributing to higher costs of homeownership overall.

Home Builders Slowed By Economy, But Seeing More Foot Traffic

Homebuilder confidence held firm for the second straight month this month, according to the National Association of Home Builders.

The monthly Housing Market Index registered 16 out of a possible 100. January's reading is three points higher than the 2010 low-point, set in September, and in-line with last year's average reading.

According to the NAHB, the market for newly-built, single family homes remains relatively weak "following a below-expectations finish in 2010". Builders expect a better 2011.

The Housing Market Index dates to 1985. It's a composite of surveys which gauge the builders' perceptions of the new home-buying market.

There are 3 surveys and they ask:

1. How would you rate market conditions for sales of new homes today?
2. How would you rate market conditions for sales of new homes 6 months from now?
3. How would you rate the foot traffic of prospective buyers of new homes?

The answers are then collated and weighted, and used to produce the Housing Market Index.

In January, market conditions for current and future sales were deemed to be flat. Foot traffic is seen as increasing. For homebuyers of new homes , this data may foretell of more bidding wars in the months ahead.

More active buyers means more competition for homes. It may also mean fewer concessions from builders as confidence starts rising.

If you're in the market for a newly-built home, watching the Housing Market Index may be sensible. Each builder is different, of course, but as the overall market sentiment falls, buyers can be more likely to get "a deal". That's not the case once confidence is rising.

The HMI is plateaued. If it resumes rising later this year, expect new homes to get more costly.

Is This Home Renovation Going To Be Worth It?

Home remodeling projects can add function to a home, but don't always add value. Consider the latest report from Remodeling Magazine. 

In it, the average cost of 35 projects are evaluated for the value they retain at the time of resale. Function beats flash, it seems, in today's housing market.

Expansive kitchens and custom vanities are returning less value to homeowners  on a percentage basis than energy-efficient doors and windows, for example.

A sampling of Remodeling Magazine's Cost vs Resale report shows the following cost recovery, by project:

• Attic Bedroom Remodel : 79.90 percent cost recovery
• Bathroom Addition : 74.90 percent cost recovery
• Bathroom Addition (Upscale) : 72.80 percent cost recovery
• Home Office Remodel : 63.40 percent cost recovery
• Minor Kitchen Remodel : 85.20 percent cost recovery
• Major Kitchen Remodel : 75.90 percent cost recovery
• Roofing Replacement : 73.90 percent cost recovery
• Window Replacement (Wood) : 85.30 percent cost recovery

Overall, "green" projects are returning a high percentage of costs to remodeling homeowners -- especially for respect to homes that are "over-improved" with respect to the neighbors.

CNNMoney.com hosts a "Will This Renovation Pay Off?" calculator on its website, based on the data from Remodeling Magazine's annual report. It may be a helpful guide for you. That said, before starting a home improvement project, regardless of whether your goal is increase your home's resale value or to improve its function, be sure to talk with a real estate agent that knows your neighborhood well.

At worst, you'll gain insight to what's "typical" for your area to work into your plan, and, at best, you'll keep yourself from over-improving your home.

Retail Sales Weak In December; Home Affordability Gets A Boost

Consumers keep spending, the economy keeps growing.

Mortgage rates are easing lower this morning on just-released, slightly worse-than-expected Retail Sales data from December 2010.

Excluding motor vehicles and auto parts, December's sales receipts were $1.5 billion higher from November. Analysts had expected a number north of $2 billion.

Despite falling short of estimates, however, December's reading is the highest in Retail Sales history, surpassing the previous record set in July 2008, set during the recession. In addition, December's strong numbers helped 2010's year-over-year numbers go positive for the first time in 3 years.

Although the data is a mixed bag for Wall Street, home affordability is improving today.

The link between Retail Sales and home affordability may not be up-front obvious, but in a post-recession economy like ours, it's often tight. Retail Sales is another name for "consumer spending" and consumer spending makes up more that 70% of the U.S. economy.

As spending grows, the economy tends to, too.

Investors recognize this and start chasing "risk". It becomes a boost for the stock market, but those gains are made at the expense of "safe" asset classes which include mortgage-backed bonds. Mortgage-backed bonds are the basis for conforming and FHA mortgage rates so, as bond markets sell off, asset prices fall and rates move up.

Thankfully, rate shoppers will avoid that scenario today -- at least for today. December's Retail Sales results are a factor in the bond market's early-day improvement. Conforming and FHA mortgage rates should be lower today.

Despite the good news, if you're shopping for a mortgage, consider locking your rate as soon as possible. Mortgage rates are coming off a 2-week rally and look poised to reverse appear -- especially with a full docket of data due for next week. As mortgage rates rise, purchasing power falls.

Foreclosure Activity Falls For The Second Straight Month, Drops To 30-Month Low

According to foreclosure-tracking firm RealtyTrac, the number of foreclosure filings nationwide dropped for the second straight month in December. After falling 21 percent in November, filings were down by an additional 2 percent in December.

"Foreclosure filing" is a catch-all term, comprising default notices, scheduled auctions, and bank repossessions.

Like most months, a small number of states dominated December's national foreclosure figures. 6 states accounted for more than 50 percent of all bank repossessions.

1. California : 17% of all repossessions
2. Florida : 11% of all repossessions
3. Arizona : 6% of all repossessions
4. Michigan : 6% of all repossessions
5. Texas : 6% of all repossessions
6. Nevada : 4% of all repossessions

December's foreclosure filings fell to its lowest levels since June 2008, but we can't read into the report too much just yet. Foreclosure volume continue to be dampened by lawsuits and moratoriums related to controversy surrounding the so-called robo-signers.

Foreclosure activity may have lessened in December anyway, but we can't know for certain. 

Distressed properties are in high demand among home buyers, accounting for one-third of all home sales; typically sold at a steep, 15 percent discount as compared to non-distressed properties.

Buying foreclosures can be a terrific "deal".

That said, buying a foreclosed home is different from buying a non-foreclosed home. Specifically, because you're buying from a bank and not a person, contracts may vary from what's "customary" and negotiations may be drawn-out.

It's one reason why buyers  -- first-timers and investors alike -- should talk with a real estate agent before writing an offer for a foreclosed property. You can learn a lot from the internet, but when it comes time to actually purchase a home, you'll want an experienced professional on your side.

Comparing Mortgage Rates For Adjustable- And Fixed-Rate Mortgages

For some homeowners, electing to take an adjustable rate mortgage over a fixed rate one can be matter of budgeting. ARMs tend to carry lower mortgage rates and, therefore, lower monthly mortgage payment as compared to a comparable fixed rate loan.

Relative to fixed rate mortgages, current ARM pricing is excellent. Freddie Mac's weekly Primary Mortgage Market Survey puts the 5-year ARM mortgage rate lower than the 30-year fixed rate mortgage rate by 1.02 percent.

On a $250,000 home loan, a 1.02 differential yields a payment savings of $149 per month.

ARMs are not for everyone, of course. Over time their rates can change and that can frighten people. An ARM can finish its respective 30-year lifespan with a mortgage rate as much as 6 percentage points higher from where it started. Some homeowners won't like this.

Other homeowners, however, won't mind it. For this group,  the ARM can be a terrific fit. Especially with the huge, relative discount in today's pricing.

A few scenarios that should warrant consideration of a 5-year ARM include homeowners that are:

1. Buying a new home with the intent to sell within 5 years
2. Currently financed with a 30-year fixed mortgage with plans to sell within 5 years
3. Interested in low payments; comfortable with longer-term rate and payment uncertainty

In addition, homeowners with existing ARMs due for adjustment may want to refinance into a new ARM, if only to push the first adjustment date farther into the future.

Before choosing to go with an ARM, speak with your loan officer about how adjustable rate mortgages work, and their near- and long-term risks. Payment savings may be tempting, but with an ARM, payments are permanent.

How To Renegotiate Your Credit Card Interest Rates To Something Lower

Credit card debt, left unchecked, can pile up quickly. Especially for debtors making minimum payments.  

According to the Federal Reserve, a credit card balance of $5,000 at 23.99 percent APR won't pay off for 16,127 years. That's one reason why it's important to manage your credit card rates, and renegotiate them whenever possible.

In this 4-minute piece from NBC's The Today Show, you'll learn the tested tactics that can cut a credit card rate, and get monthly payments to a more manageable range. And it's do-it-yourself -- no debt management firms required.

Some of the tips in the video include:

• Compare your current rate to the rate offered to new customers. Ask the lender for "new customer rate" if it's lower.
• If your credit score has improved since application, ask for an interest rate more reflective of your current credit score.
• Be nice to the customer service representative. Kindness helps.

Managing debt is an important part of household budgeting so if you're finding your credit card payments and/or rates too high for your liking, try following the instructions as described in the video. And, above all else, be persistent. The credit card companies won't likely approve your first request. 

How To Repair A Scratched CD, DVD, Or Game Disc

When your CDs, DVDs and game discs are "skipping", most times, a simple cleaning will set them right.

Make sure you clean your discs properly, though. Clean them the wrong way and you could damage your discs forever. You might also cause your electronic devices permanent damage.

There's lots of remedies for skipping CDs, DVDs, and game discs, but the following method is known to be reliable for all but the toughest scratches and dings.  First, you'll need some tools:

1. A flat surface
2. A soft, lint-free cloth
3. Specialized cleaning solution, or plain rubbing alcohol

Take the cloth and, holding the disc between your thumb and forefinger, wipe from the center to the edge in a straight line. Repeat this step until you've removed all of the surface dust from the disc.  Next, apply the cleaning solution (or rubbing alcohol) to the cloth directly and wipe the disc in the same manner -- from center to edge.

Lastly, lay the disc flat and allow it to dry.

If the above method does not repair your disc(s), consider an off-the-shelf, disc repair system for more heavy-duty scratches. Disc repair products can look expensive with prices tags as high as $60, but as compared to the cost of buying new music, movies, or games, the investment could make sense. Just make sure to read product labels for their limitations before purchasing.

December's Job Report : Good For Home Affordability

On the first Friday of each month, the Bureau of Labor Statistics releases its Non-Farm Payrolls report.

More commonly called "the jobs report", the government's data include raw employment figures and the Unemployment Rate.

The jobs report hit the wires at 8:30 AM ET today. It's making big waves in the mortgage market and may help home affordability for buyers this weekend, and would-be refinancers.

For this month, and for the rest of 2011, employment data will figure big in mortgage markets.

7 million jobs were lost in 2008 and 2009. Fewer than one million jobs were recovered in 2010. For the economy to fully recover, analysts believe that jobs growth is paramount.

Consider how job creation influences the economy:

1. More jobs means more income and more spending
2. More spending means more business growth
3. More business growth means more job creation

It's a self-reinforcing cycle and, as business grows, the economy expands, pushing stock markets higher. This tends to lead mortgage rates higher, too, because bonds can lose their appeal when stock markets gain.

According to the government, 103,000 jobs were created in December, and October's and November's figures were revised higher by a net 50,000 jobs for a total of 153,000 new jobs created. Economists expected a net gain of 135,000.

The Unemployment rate fell to 9.4, its lowest level since mid-2009.

Wall Street is voting with its dollars right now. Mortgage bonds are improving, pointing to slightly lower mortgage rates today.

The December jobs report was "average", and home affordability is improving.

Loan Costs Increasing April 1, 2011

Starting April 1, 2011, loan-level pricing adjustments are increasing. Most conforming mortgage applicants will face higher loan costs.

Loan-level pricing adjustments are mandatory closing costs. They're assigned by Fannie Mae and Freddie Mac, and based on a loan's specific risk to Wall Street investors.

First constructed in April 2009, loan-level pricing adjustment are a means to help Fannie Mae and Freddie Mac compensate for "riskier loans" by bolstering their respective balance sheets.

Since the initial roll-out, Fannie and Freddie have amended adjustments five times. The pending April adjustment will be the 6th revision in two years.

No class of conforming borrower is exempt from LLPAs. Each loan delivered to Fannie Mae is subject to a quarter-percent "Adverse Market Delivery Charge". That cost is often absorbed by the lender.

The remaining adjustments are grouped by category:

1. Credit Score : Lower FICO scores carry bigger adjustments
2. Property Type : Multi-unit homes carry bigger adjustments
3. Occupancy : Investment properties carry bigger adjustments
4. Structure : Loans with subordinate financing may carry bigger adjustments
5. Equity : Loans will less than 25% equity carry bigger adjustments

LLPAs are cumulative. A borrower that triggers 4 different categories of risk must pay the costs associated with all four traits.

Loan-level pricing adjustments can be expensive -- as much as 3 percent of your loan size in dollar terms.  As an applicant, you can opt to pay these costs as a one-time cash payment at closing, or you can to pay them over time in the form of a higher mortgage rate. 

The loan-level pricing adjustment schedule is public. You can research your personal scenario at the Fannie Mae website. However, you may find the charts confusing. Especially with respect to which route makes the most sense for you -- paying the adjustments as cash, or paying them "in your mortgage rate".

Phone or email your loan officer for help.

The Fed Minutes Keep Mortgage Rates On Hold (For Now)

The Federal Reserve released its December 14 meeting minutes Tuesday afternoon. There wasn't much there to disturb mortgage markets, thankfully.

The "Fed Minutes" is an official recap of the most recent meeting of the Federal Open Market Committee. It's published 8 times annually, 3 weeks after the FOMC adjourns.

The Fed Minutes is similar to the meeting minutes released after a corporate conference or condo association gathering in that they provide additional details about the conversation and debate that occurred between meeting attendees.

The Fed Minutes are a lengthy companion to the Federal Reserve's brief, more well-known, post-meeting press release. But, whereas the press release is measured in paragraphs, the minutes are measured in pages.

Here is some of what the Fed discussed last month:

• On inflation : Core inflation levels "trend lower"; disinflation risks are low.
• On housing : The market is still "quite depressed"; demand is "very weak".
• On stimulus : The Fed will stick to its $600 billion support plan

In response, conforming mortgage rates are unchanged today.

The no-change in rates is welcome news for this month's home buyers and other people wanting to get a jump on the "Spring Buying Season". Mortgage rates have been trending higher since November, erasing 7 months of gains in 7 weeks, and rapidly approaching the psychologically-important 5 percent figure.

Currently, Freddie Mac reports the average 30-year fixed mortgage rate as 4.86%.

As compared to November, mortgage rates are higher. As compared to history, however, mortgage rates remain low. If you are still floating a rate, or have otherwise not locked, your opportunity may be ending. Once the economy moves to higher gear, mortgage rates will be among the first of the casualties.

Pending Home Sales Rises To 6-Month High

The housing market continues to expand, and surprise.

According to the National Association of REALTORS®, November's Pending Home Sales Index gained 3 percent from October. A "pending home sale" is a home under contract but not yet closed. 

The index is now at its highest point since April 2010's federal tax credit contract expiration deadline.

If the tax credit really did "borrow" sales from the summer months, as has been theorized, housing has rebuilt its foundation. 

We know this because, of all the housing data available to  homeowners and home buyers, the Pending Home Sales Index stands apart as a forward-looking report -- its designed purpose as described in its methodology.

Because 80% of all homes under contract close within 60 days, and a statistically significant share of the rest close within months 3 and 4, the Pending Home Sales Index is an excellent predictor of future Existing Home Sales data.

This is in contrast to the New Home Sales data and Case-Shiller Index, as examples, which both describe the real estate market as it existed two months in the past. The Pending Home Sales Index reports on housing as it exists right now. We should expect January's Existing Home Sales report, therefore, to show marked strength, consistent with a housing market recovery.

The downside of the Pending Home Sales Index is that it's a national report and real estate is not sold nationally -- it's sold locally. To get a feel for your home market and how it's faring, talk to a licensed real estate agent with access to local home sale data. 

If pending sales data is available, so much the better. Forward-looking figures can be more helpful than data that's already old.

Foods That Don't Belong In A Garbage Disposal

When a garbage disposal clogs, a plumber's service call can cost as much as $100 just for showing up. A "fix" could add even more to that bill.

To minimize the likelihood of costly repairs, therefore, be mindful of how your disposal works, and where its limitations lie.

Most clogs are the result of how certain food waste reacts with water and there's some items you should never flush down your sink. This is because everything sent through the disposal eventually must make its way down the waste line and that can include a trap.

Over time, the trap can get blocked.

With that in mind, here's a short list of food waste that's better suited for the garbage can than the kitchen sink:

• Rice and pasta : Small particles can never be completely pulverized, and will swell in the presence of water. This can clog pipes and traps.
• Egg shells : Tiny, granular waste can get "bound" with pipe sludge, creating a thick clog.
• Coffee grounds : Same as for egg shells. As a clog thickens, it's harder for water to pass through.
• Grease : Liquid fats turn to solid when in contact with cold water. Over time, this creates a clog like plaque on an artery.
• Potato peels : Once ground, peels turn starchy like mashed potatoes. This can clog a drain pipe instantly.

With kitchen garbage disposals, the general rule for flushing food should be "when in doubt, leave it out". Use your disposal for convenience, not for a trash chute substitute.