Home Sales Jump 4.2%; Median Prices Jump 15.4%:

Home Sales Jump 4.2%; Median Prices Jump 15.4%: Existing home sales improved in May but the supply of homes for sale remains tight — which isn't good news for buyers, the National Association of Realtors said Thursday. Total existing home sales increased 4.2% to a seasonally adjusted annual rate of 5.18 million in May from 4.97 million in April, NAR said. That's the highest rate since November 2009 and almost 13% above year-ago levels. The inventory of homes for sale, meanwhile, dipped to a 5.1 month supply, down from 5.2 months in April. That means all the homes would sell in that time frame if no new supply was added and sales continued at May's pace. Realtors consider a 6-month supply to be a balanced market between buyers and sellers. Homes are also selling fast. The median time on market for all homes was 41 days in May, down from 46 in April. Nationwide, 45% of all homes sold in May were on the market for less than a month, NAR says.

Pending Home Sales Surge Over 10%:

Pending Home Sales Surge Over 10%: The National Association of Realtors reported that signed contracts to purchase a home increased 10.3% from this time a year ago. These are called "Pending Home Sales" because there is a signed contract but the home has not closed yet. On a month-over-month basis, Pending Home Sales increased 0.3%. Sales Prices continue to shoot up and the number of Pending Home Sales would have increased even more if it wasn't for a huge shortage in available quality inventory. "The housing market continues to have gains from already very positive conditions. Pending contracts so far this year easily correspond to higher closed home sales in 2013," said Lawrence Yun, chief economist for the Realtors. "Because of inventory shortages, higher home sales will push up home values to the highest level in five years," Yun said, adding that the national median existing-home price should increase close to 8 percent and exceed $190,000 in 2013. There are also fewer distressed homes for sale. Banks have been doing more aggressive loan modifications, and some banks are reportedly holding foreclosed homes off the market, as home prices continue to rise.

Home Prices Jump Most in Seven Years

U.S. single-family home prices rose in March, racking up their best annual gain in nearly seven years as the housing recovery continues to provide a source of strength for the economy, a closely watched survey showed on Tuesday. The S&P/Case-Shiller composite index of 20 metropolitan areas gained 1.1 percent in March on a seasonally adjusted basis, topping economists' forecasts for 1 percent. Prices in the 20 cities jumped 10.9 percent year over year, beating expectations for 10.2 percent and the biggest increase since April 2006. All 20 cities covered by the index saw yearly gains for the third month in a row. Average prices in March were back at their late-2003 levels. For the first quarter of this year, the seasonally adjusted national index rose 3.9 percent, stronger than the 2.4 percent gain that was seen in the final quarter of last year.

Great Tips for Spring and Summer Nature Photography

Date: June 1, 2013 Time: 9:00am to 12:00pm Venue: Broadmoor Wildlife Sanctuary Address: 280 Eliot St, Natick, MA 01760 Cost: Adults $55.00m/ $65.00nm Get great tips from a pro as you learn to overcome some of the top challenges of nature photography. From tricky lighting to moving wildlife, we will cover these and other challenges as we explore beautiful late spring and early summer habitats around the sanctuary. Small class size for individual attention. Tripod recommended. Pre-registration required. Online registration available. Website: Click to visit the site

First Showing at Tuesday's Brokers Open House

How to Save on Energy in the Summer

Summertime means an increase in temperature, and if you’re part of the majority of people in the U.S., it may also mean an increase in your utility bills as well. There are some changes you can make this summer that will help reduce your energy consumption and still keep you comfortable. Clean your air conditioning filters every month. Most people ignore the air filters until something goes wrong. Cleaning your air filters every month will help ensure that your system is functioning as efficiently as possible. Unplug electronics when they’re not in use, or use a Smart Strip. Simply turning off the T.V. or other appliances won’t put a stop to your power consumption. While it might not make a huge difference, keeping items plugged in can add up over the year. Shut doors and vents of unused rooms and use ceiling fans when you can. This can all lighten the load on your air conditioner. Turn up your thermostat. Set your thermostat to 77 degrees when you are home and 85 degrees or off when you are away. You will save 1-3% per degree for each degree the thermostat is set above 72 degrees. Shade your windows. Install patio covers, awnings, and solar window screens to shade your home from the sun. Also, plant trees, shrubs, and vines strategically to properly shade your windows and keep the sun from heating up your house.

Plugged Drain......

Yuck…your tub or bathroom sink is draining slowly AGAIN. Every time you remove the trap or use a plumbing snake, you know you’ll be dealing with a major mess. And the hair in the trap is disgusting! But you’re tired of standing in water when taking a shower. Well, next time you’re at the grocery store or hardware store, pick up a drain cleaner: a flexible plastic strip with small hooks along its length. It looks like a very thin Christmas tree. Without dismantling anything, you push this thin plastic tool down the drain and pull out all that hair and junk. For some drains, it helps if you remove the stopper for better access. Just be ready for a mess when you pull it out. Have a rag or paper towel ready to catch the junk. You should also wear rubber gloves. After the junk is removed, run very hot water down the drain for several minutes. If you don’t have time to go to the grocery store, you could also try this with a length of thin wire bent to form a hook on one end. This tool is not as effective, and it will take more effort to catch the hair and junk – but it can work.