Kathy L. Cardet: September 2012

Hurricane Season!

We recently had a close call here in Southwest Florida with Hurricane Issac, currently pounding the Louisiana Coast ironically on the anniversary of Hurricane Katrina. Our prayers go out to our Gulfcoast neighbors. Hopefully, lessons were learned from last time and the damage will be less than it was last time. In the meantime, below is a quick reference list of things to do to be prepared for whenever a storm threatens.

Safeguard your car

"Comprehensive" auto coverage should protect your car from damage caused by a hurricane, including flood damage.

Shutters are first line of defense
No matter how well-constructed, a house without shutters or hurricane glass is not a smart place to stay in a storm. Without protection, windows can be smashed by flying debris. And once the wind gets inside the house, it can quickly splinter or tear off the roof.

Make plans now to protect your family

Your hurricane plan should be detailed and cover not just what to do now, but also what to do as the storm threatens and as it hits -- and what you should do afterward, when you could be on your own without help for weeks.

Protect your pets and animals

To keep your pet safe in the event of a hurricane, your choices are to keep the pet with you at home, take it with you if you evacuate, leave it with a friend or board it at a kennel.

Find the safest place in your home

Finding a strong refuge in your home and keeping it stocked with the right supplies can mean the difference between life and death during a hurricane. Here's how to stay safe during a storm.

Go early if you plan to leave

If you are absolutely determined to leave town before the hurricane comes, experts have two pieces of advice: 1. Don't do it. 2. If you still insist on leaving, do it early.

Home Sales Rebound
According to the National Association of REALTORS®, pending home sales rose in July to the highest level in over two years.

The Pending Home Sales Index, an indicator based on contract signings, rose 2.4 percent to 101.7 in July from 99.3 in June and is 12.4 percent above July 2011 when it was 90.5. The data reflects contracts but not actual closings.

Lawrence Yun, NAR chief economist, said the index is at the highest level since April 2010, which was shortly before the closing deadline for the home buyer tax credit. “While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity,” Yun said.

Limited inventory is constraining market activity. “All regions saw monthly increases in home-buying activity except for the West, which is now experiencing an acute inventory shortage,” Yun added.

The Pending Home Sales Index in the Northeast increased 0.5 percent to 77.0 in July and is 13.4 percent higher than a year ago. In the Midwest the index grew 3.4 percent to 97.4 in July and is 20.2 percent above July 2011. Pending home sales in the South rose 5.2 percent to an index of 111.7 in July and are 15.6 percent above a year ago. In the West the index slipped 1.7 percent in July to 109.9 but is 1.3 percent higher than July 2011.

Existing-home sales are projected to rise 8 to 9 percent in 2012, followed by another 7 to 8 percent gain in 2013. Home prices are expected to increase 10 percent cumulatively over the next two years.

“Falling visible and shadow inventories point toward continuing price gains. Expected gains in housing starts of 25 to 30 percent this year, and nearly 50 percent in 2013, are insufficient to meet the growing housing demand,” Yun said.

Source: NAR

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