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In This Issue

	Seasonal Suggestion
	How to Bewilder Burglars
	Tips for Winterizing Your Lawn and Garden
	Buy Better in a Buyers Market
	Getting the Most Out of a Buyers Market
	Basic Home Buying Skills: Your Key to Home Ownership
	Monthly Survey
	Past Issues: October, September, August , July

Monthly Quote

“Thanksgiving Day is a jewel, to set in the hearts of honest men; but be careful that you do not take the day, and leave out the gratitude.”

-E. P. Powell, American pastor and journalist, (1832 – 1915)

Tip of the Month

As winter draws closer, it is time to start thinking about keeping those you love warm. By this, of course we mean your roses! When winter-protecting roses, remember that you are not only protecting them from the cold, but also from strong winds and unusually warm weather that may cause them to thaw prematurely. Follow these steps to protect your roses from winter’s threats:

1. Keep them well-watered. Fall rains usually provide adequate water, but if the weather has been dry, water deeply (to a depth of 18 inches or more) after the first frost but before the ground freezes.

2. Extend the soil. In early to mid-fall, when nights are regularly frosty, mound several spadefuls of soil over the base of your roses, extending the soil to at least a foot above the bud union. You can cut the canes back to 3 or 4 feet high and tie them together with string to make things easier. The part of the plant above the mound will be pruned off in the spring anyway. Also, make sure to get the soil from somewhere other than your plant’s base – it’s best not to go digging around your roses’ delicate roots.

3. Add a thick layer of mulch. When the ground freezes completely, add at least a foot of mulch to the mound of soil. This ensures that the ground stays frozen and that all of the plant is protected from the elements. You should pull off any leaves that are left on the plant since remaining leaves can increase drying. To keep the mulch and soil from shifting during the winter, you can wrap the bush in newspaper and fill it with mulch, compost or straw and tie it together. You can also purchase mesh cylinders or cones that fit over the top of the plant and can be filled with your preferred material.

4. Start removing the soil mound in the spring. When the ground begins to thaw, start removing the soil, gently. Don’t get started too early, as a late cold snap can be damaging. Remove the soil very carefully, as you may find new growth beginning. If you are concerned about damaging your plant, apply a gentle stream of water to remove the soil instead.

Source: Roses for Dummies by Lance Walheim and The Editors of the National Gardening Association, Wiley Publishing, Inc., 2000.

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Basic Home Buying Skills: Your Key to Home Ownership

The current market makes it tough for everyone, buyers and sellers alike, albeit for different reasons. A recent Realty Times article places emphasis on basic home buying skills as the key to home ownership.

The current slow housing market and the recent risky lending scandals have led to lenders tightening their purse strings overall. Lenders now want to make certain that borrowers are gainfully employed, can afford to pay their mortgage during its full term and have the extra cash to cover additional costs that crop up during home ownership.

What does this mean for you as a buyer? It means that you need to have all your ducks in a row before shopping for a home. “If people were really responsible for their own financial behavior that would have taken the power away from people who put them in these [risky] loans,” says Shawneequa Badger, a real estate agent with CENTURY 21-Alpha in San Jose, California. “There’s still a market out there for people to keep things moving. Just stop the irrational financial behavior.”

First, you need to realize that the benefits of owing your own home are far greater than any sacrifices you need to make to get into that home now. Next, follow these steps to prepare yourself for the now-rigorous home buying process.

• Set a budget and follow it. The key to responsible finances, and therefore to successful home ownership, is to understand where your money goes and how you can cut costs. If you’re not sure where to start, you can check out the Better Business Bureau’s budget template at www.bbb.org/ALERTS/article.asp?ID=709.

• Save, save, save, then save some more. Lenders today will expect you to not only have a sizable down payment, but also to have money left over for general home buying expenses, such as taxes, insurance and home maintenance. If your budget reveals that you are spending on some areas in which you can cut back (such as dining out or stopping at Starbucks every morning), make the necessary sacrifices and put the money aside in a savings account. Other recommendations for saving money include clipping coupons, renting movies through the mail instead of going to the movie theatre and entertaining yourself at home rather than going out. As a starting point, you should have three to six months of your net income in savings in case you aren’t able to work. You will then have to save for a down payment and other costs on top of that.

• Know your credit report. Order your credit report off AnnualCreditReport.com (the only federally-approved Web site that offers a truly free credit report once annually) and read it completely. Check your report for errors and correct any you find. If your credit score is less than stellar, visit MyFico.com to find out how to improve your report and your credit score.

• Ask for help if you need it. Does your credit report not make sense? Are you not sure how to set up a budget? Do you not know how to calculate what you need to save? Buyers, especially first-time buyers, often need help in these areas and smart buyers will ask for it. Options for help include financial planners or counselors, real estate agents or mortgage brokers, as well as friends and family who are knowledgeable in these areas. You can also ask trustworthy friends and family for references for these types of specialists. Get help setting up goals, understanding mortgage programs, knowing what to expect during the title and escrow process and understanding how to finding and keeping a home – all before you are actually in the market to buy a home. Before you shop for a home, you should also understand market and economic conditions that could impact your home buying decision, including home prices, mortgage rates, home buying costs and other related issues. Another option for self-education is to attend real estate workshops, seminars and classes. You can also browse for information online. Start with MyMoney.gov and the Better Business Bureau. Above all, the best thing to have on your side is a good advocate, which means finding a reliable, trustworthy Realtor to guide you through the process, from start to finish.

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