Bill & Luanne Hauck

This past week October 5^th through the 11^th is National Fire Prevention Week. Joining in on the event was the Cary Fire Department. On Tuesday, October 14^th from 6:30-8:30 pm they held an open house inviting the public to the station to learn all about fire safety. My dad, Bill Hauck, is a Cary Fire trustee so he has had this particular event in red on the calendar for weeks, if not months. I thought what a great opportunity to bring my 3-year-old son, Georgie, to the fire station to meet the firemen and hopefully learn some great safety tips. So my husband, our son, and I met my parents at the fire station to check it out.

My son wore his fire hat all the way to the station and all throughout the night so we called him "Fireman Georgie." His eyes lit up as we arrived and walked up to the fire trucks parked outside all sparkling clean and ready to go. He was very excited to be so close that he could finally touch one. It was like a child's dream come true! To his surprise there was even more to see inside. There was an ambulance that the children could walk through and inside it there was a friendly paramedic answering the children's many questions.

They could also view the truck used to carry all of the under water diving equipment. Georgie, along with so many other kids, excitedly walked through each with the biggest smiles on their faces. There was a jeep hauling the boat used for water rescues, which was a big hit with the kids who pretended they were boating. Of course what open house would be complete without games and treats too!

Included in the event were also several demonstrations to teach the importance of fire safety without being scary for the kids. One in particular that I thought was great was a fireman who put on all of his gear, his coat, hat, mask, everything and crawled up to the children in the circle to show them what a fireman would really look like. He made a point to tell the children and their parents that often times a child will be scared when they see a fireman in full uniform and they run and hide, which is extremely dangerous. It opened up the dialogue to teach your child not to be afraid of a fireman; they're there to help.

A favorite demonstration among the children was one in which they were able to hold a fire hose with a fireman and spray a tree with water together. There was also a real life controlled fire that showed everyone how they would put out a fire.

One of the best parts of the night was when the Flight For Life helicopter landed on the property. It was like a scene from a movie, being so close that you could feel the wind on your face and could see the leaves flying all around as the helicopter landed. After the helicopter was turned off they allowed everyone to go see the inside.

What a great time had by all and it was such neat experiences to be in the presence of so many that make a living helping people. So many families were able to make memories that night and teach valuable life saving lessons at the same time. Shortly after we discussed fire safety with our son and developed a plan at home and Fireman Georgie knows just what to do if there is ever a fire in our home. This time next year we will be back at the fire station for another great family event! Mark your calendars and check it out next year if you missed it this time!

The following is a copy of a blog entry by my friend Kelly from the Lake Zurich ReMax office. I could not have said it better and she certainly writes better then me. I asked for premiision to copy it because I really think this is very important to both buyers and sellers and puts a spotlight on the current market.

Kelly Sibilsky, a Sales Associate with RE/MAX Unlimited Northwest in Lake Zurich, Ill., posted this blog entry on her Active Rain site on March 30.

Will 2008 be the year you wish you'd bought real estate?

With lower interest rates and plenty of homes to choose from, now may be the right time for you to purchase real estate. Today's lower interest rates may not be around when prices flatten out, so trying to time the market rarely works to your advantage. Another problem with trying to time the market is that it requires a rising market to know just where the bottom was ... hindsight is always 20-20, isn't it?

In many cases, purchasing a home may be cheaper than renting. In my market area, it is difficult to find a decent rental unit for under $1,300/mth. That's $15,600/year that could have gone towards your own mortgage, instead of paying your landlord's mortgage for him. Your landlord loves you, by the way, because you're making him rich. You are literally buying his property instead of your own. Think about it.

Then there is the distressed (foreclosure) property market. While many of these properties have condition issues and other challenges, in many cases they are priced below market value and offer opportunity for those willing to put in a little sweat equity to make a profit. If you are considering purchasing a distressed property, I suggest you consult a real estate agent who specialized in the foreclosure market to assist you. It can be tricky to navigate.

All investments carry some level of risk, and purchasing real estate is certainly no exception. This is not the time to make decisions that have not been carefully analyzed. What is a good purchase for an investor may not be a good purchase for a typical homebuyer. This is why you should always work with a real estate agent who can guide you in the right direction and provide the information you need to make an educated decision based on your individual circumstances.

Many people wish to wait "until next year, when prices may be lower" which of course, is a risk in and of itself. Prices may be lower, or may be higher. How many times have you waited for that special sweater at your favorite store to be marked down, only to discover that it was snapped up by someone else before you had the chance to purchase it? It may be a simple analogy, but the principle is the same: sometimes you snooze, you lose. If that's okay with you, then go ahead and wait it out. Hopefully you won't want to kick yourself a year from now.

The truth is, none of the experts can accurately predict the real estate market any better than the experts can accurately predict the stock market or what gas prices will be a year from now. If you purchased real estate in 2006 or 2007, you most likely got a great home at a terrific price with a low interest rate. Provided you stay in your home for several years (something I always recommend), you will benefit when property values eventually rise again.

I actually purchased my own home when the market was so hot that homes were selling in just days and for full list price. My home is now worth about $100,000 more than it was when I purchased it. Had I purchased a few years earlier, my home may be worth $25,000 more than that. Had I purchased just two years ago, my home may be worth about what I paid for it. That's the nature of real estate. Values go up, values go down, and when you purchase and sell makes all the difference.

For the typical homeowner, purchasing real estate should be a long term investment as well as a good little tax deduction, a place to live and make memories that will last a lifetime. Would I be comfortable selling my home in today's market and purchasing a new home? You bet your booties. In fact, I wish I could do just that, because I feel this market offers tremendous opportunities. The problem is, it's not the right time for me to do so because my youngest son has three more years of high school. If the market values are higher in three years, I will make more money on the sale of my home. Of course, I will also be paying more money for my new home. Therefore, I will not have gained anything by waiting and may actually lose money because of the higher purchase price on my new home and potentially higher interest rates. But that's life, folks. Sometimes you need to make decisions based on what is right for you and your family instead of making decisions based solely on the financials.

So will 2008 be the year you wish you'd bought real estate?

See what I mean I could not have said it better. If you have any comments please let me know.

Bill & Luanne

Very quickly a short sale is something negotiated between the bank, current seller and a buyer to take less money then a seller owes. If successful the debt is erased and is less costly to the lender then a foreclosure. Takes time and effort.

A foreclosure is when a seller walks a way and lets a bank foreclose on the amount owed and sells the home to the highest bidder. The seller is still responsible for the debt if there is a difference. The bank can attach any other property or future earnings.

Both affect personal credit for a period of 4-9 years.

Note: Seek the advice of a attorney and CPA and a good real estate agent!