How To Clean Outdoor Furniture : Resin, Wood And Metal

This week marks the official start of Summer in Greece. If your home's outdoor area has furniture in it, you'll want to make sure that your furniture is clean.

In this 4-minute video from Lowe's, you'll learn tricks to keep your outdoor furniture clean, and protected from the elements. All types of outdoor furniture are covered in the lesson including metal, resin-based, and wooden.

The offered tips include:

• Why you should never remove the "care tags" from a furniture pillow
• Choosing the proper pressure-washer tip for the job at-hand
• How to use car wax as a rust-preventative

Furthermore, the instructional video includes tips for cleaning fabrics and canopies; and for shampooing an outdoor rug.

There's lot of reasons to keep your outdoor furniture clean -- health reasons among them -- but it shouldn't be lost that clean furniture will have a longer useful life than furniture that's been neglected or ignored.

Clean your outdoor pieces at least twice annually and they'll give you years of good looks and comfort.

Housing Starts Climb Unexpectedly In May

The housing market received a jolt of good news Thursday. The Commerce Department reports that Single-Family Housing Starts improved in May.

As compared to April, last month's Single-Family Housing Starts rose 4 percent to a seasonally-adjusted, annualized rate of 419,000 units, a figure slightly better than the 6-month average and the highest tally since January.

A "housing start" is defined as a home on which new construction has started.

In addition, Building Permits saw a boost in May, too, climbing nearly 9 percent overall. Building Permits are a gauge of future construction activity with 89 percent of permits leading to new construction within 60 days.

For several reasons, the May data surprised Wall Street analysts. 

First, more homes being built suggests a healthier housing market, yet, earlier this week, the June homebuilder confidence report posted its lowest reading since September 2010.

Second, new home sales are only slightly higher than their all-time lowest annualized readings. Sales volume remains low in Greece and nationwide.

And, lastly, home prices have yet to recover in full. By adding additional inventory, builders may suppress price growth through the remaining portions of 2011.

For home buyers in New York , though, the Housing Starts data may be a signal that the market is turning. The data can be used to your advantage.

Home prices are a function of supply and demand and -- based on the Housing Starts data plus the number of newly-issued Building Permits -- home supply is likely to rise. Demand, on the other hand, despite low mortgage rates, may not. At least not in the short run.

As a buyer, you can use this information to your advantage. If you're looking to buy new construction, ask your real estate agent about the current new homes supply. There are bargains to be found and May's Housing Starts data should support low prices for at least the next few weeks.

Monthly Foreclosure Count Drops For 16th Straight Month

Foreclosure rates are falling.

According to foreclosure-tracking firm RealtyTrac, monthly foreclosure filings fell 2 percent in May to just under 215,000 filings nationwide. A foreclosure filing is defined as any one of the following: a default notice, a scheduled auction, or a bank repossession.

On an annual basis, foreclosure counts have dropped over 16 consecutive months, dating back to January 2010.

Like all things in real estate, though, foreclosures are local. 6 states accounted for more than half of the country's foreclosure filings in May. Those six states -- California, Michigan, Arizona, Florida, Georgia and Texas -- represent just 34% of the U.S. population.

But even on a per household basis, the figures remain disproportionate.

• Top 10 Foreclosure States : 1 foreclosure per 357 households, on average
• Bottom 10 Foreclosure States : 1 foreclosure per 8,764 households, on average

The nationwide foreclosure rate was 1 foreclosure per 605 households.

As a home buyer in Greece , foreclosures matter. Distressed homes account for close to 40% of home resales and that's because distressed properties often sell at steep discounts; in some markets, up to 20 percent less than a comparable, non-distressed home. Foreclosed homes can be a great "deal", therefore, but only if you've done your homework. 

Buying a bank-repossessed home is different from buying from "people". The contracts and negotiation process are different, and homes are sometimes sold with defects.

If you plan to purchase a New York foreclosure, therefore, speak with a real estate professional first. With foreclosures, there's a lot you can learn online, but when it comes time to submit an actual bid, you'll want an experienced agent on your side.

Mortgage Rates Surge On May Retail Sales Figures

The jobs market is recovering slower than expected, and so is housing. But neither condition has slowed U.S. consumers.

According to the Census Bureau, Retail Sales rose for the 11th straight month in May. Excluding cars and auto parts, sales receipts climbed to $322 billion last month. It's an all-time high and another example of the U.S. economy's resiliency.

Wall Street didn't expect such results. As a result, mortgage rates worsened Tuesday.

By a lot.

The connection between Retail Sales and mortgage rates can be fairly tight in a recovering economy. Retail Sales accounts for almost half of all U.S. consumer spending, and nearly one-third of the economy overall. The May report, therefore, showed the economy may be on more solid footing than economists expect.

Plus, lately, as the economy goes, so go mortgage rates in Rochester and nationwide. 

When the economy has shown signs of life, mortgage rates have increased. When the economy has shown signs of a slowdown, mortgage rates have dropped.

It's why mortgage markets reacted the way they did Tuesday; May's Retail Sales data was strong. The resultant surge in conforming mortgage rates -- from market open to market close -- turned into one of the year's fiercest, raising average mortgage rates well off their 7-month lows established earlier this week.

At today's rates, each 0.125 percent change in rates yields a payment difference of $7.50 per $100,000 borrowed. Yesterday, some product rates rose by as much as 0.250 percent. It put a dent in home affordability and household budgets.

With Retail Sales are up 8 percent from last year, therefore, and showing few signs of a slowdown, today may be a prudent date to lock a rate with your lender. As the economy continues to grow, rates are expected to rise.

Is This The Start Of A Refi Boom? Mortgage Rates Fall For 8 Straight Weeks.

Mortgage rates are falling, falling, falling.

On a wave of uncertainty about Greece and its debt; and weaker-than-expected economic data at home, conforming 30-year fixed rate mortgage rates have fallen to levels not seen since December 2, 2010.

Mortgage rates have dropped 8 weeks in a row. Not even last year's Refi Boom produced an 8-week winning streak. This season's streak is historic.

The 30-year fixed rate mortgage now averages 4.49% nationally, down 42 basis points, or 0.42%, since early-April. For every $100,000 borrowed, that equates to a monthly savings of $25.24.

Adjustable-rate mortgages have shed even more, giving back 50 basis points since the streak began.

Because of low rates, it's an excellent time to buy or refinance a home relative to just a few weeks ago. Note, though, that depending on where you live, you may find your quoted interest rates to be slightly higher or lower than what Freddie Mac reports in its survey. This is because the Freddie Mac figure is a national average.

Mortgage rates and fees vary by region:

• Northeast : 4.49 with 0.6 points
• Southeast : 4.52 with 0.8 points
• North Central : 4.52 with 0.6 points
• Southeast : 4.52 with 0.6 points
• West : 4.45 with 0.8 points

You'll notice that, in the West Region, rates tend to be low and fees tend to be high; in the North Central Region, the opposite is true. You should expect New York to have its own pricing norm within this region, too.

Is there a particular rate-and-fee setup that suits you best? The good news is that you can ask for it -- no matter where you live.

If having the absolute lowest mortgage rate is more important to you than having the absolute lowest fees, ask your loan officer to structure your loan in the "West" style. Or, if low costs are more your style, ask for them.

Mortgage rates appears as if they're headed lower but don't forget how quickly markets can change. Once they do, mortgage rates in Greece should spike. Exploit today's market while you still can.

20 Craft Projects To Spice Up Your Home

If you have a flair for home decoration projects, Better Homes & Garden has some terrific ideas for you on its website.

Titled "Fast and Fabulous Decorating Projects", the lifestyle company offers inspiration for 20 do-it-yourself art projects that can breathe life into old furniture, and add pop to your home.

Published in thumbnail format, the guide is quick-to-browse and long on ideas.

In addition, because many of the highlighted projects involve the re-purposing and/or the recycling of existing furniture and other home goods, not only do costs stay low, but it's likely that you have the required project materials in your home already:

A sampling of the projects includes:

• Making bathrooms more private using stenciled window patterns
• Creating slip-covered, upholstered headboards
• Disguising less-than-perfect cabinet/cupboard doors with prints
• Transforming old mirrors and windows into functional message boards
• Decoupaging retro posters to revitalize old furniture

The projects range in difficulty from basic to advanced. Some require nothing more than scissors and glue; others require advanced skills in woodworking and sewing. There's something for everyone.

Do You Know What Questions To Ask Your Lender?

A mortgage comes with many moving pieces and understanding them is the key getting a great deal. Unfortunately, studies show that few Americans have a firm grasp of how mortgages work -- from mortgage types to mortgage fees.

In this back-to-basics interview on NBC's The Today Show, you'll learn some mortgage planning basics to help you get smarter with your next home loan in Rochester or anywhere else -- purchase or refinance.

Some of the topics covered include:

• The mortgage applicants for whom adjustable-rate mortgages are a better choice than fixed-rate mortgages
• Why you should include "How Good Is This Lender?"-type questions in the rate shopping process
• What a pre-approval letter is good for, and what it is not good for

There is also one of the most simple explanations of "discount points" ever offered on network television.

The video runs 4-and-a-half minutes. For first-time buyers and experienced ones, it's worth a watch. You'll pick up some tips to use on your next mortgage.