Safety Tips for Home Renovations

With spring upon us, many homeowners are planning to catch up on maintenance and renovation projects that add to the beauty and value of their home. But in far too many cases each year, these projects unnecessarily end in disaster, warn loss prevention specialists at the Chubb Group of Insurance Companies.   

"Alarmingly, many major house fires we have seen are caused by contractors and others working in a home," said James King, assistant vice president and technical field manager for Chubb Personal Insurance. "Many of these incidents could have been prevented simply by following some common-sense rules such as properly disposing of oily rags at the end of the workday. Within minutes, those rags could spontaneously combust, igniting an oil-soaked deck or other surface, and then spreading to the rest of your home." 

Based on recent reports of increased spending on home renovations, more properties are likely to be exposed to such risks this spring. To help prevent some of these homes from going up in flames, Chubb advises homeowners to make sure that they and their contractors:

• Do not ball up, pile, stack or fold wiping cloths, rags, drop cloths, steel wool or work clothes that come into contact with solvents such as wood stain, Linseed oil, alkyd enamel resins, motor fuel, and oil-based paint and other products. Do not toss these items into a trashcan or plastic bucket. Instead, immerse them in water in a metal container with an airtight lid. After they are saturated, fully air dry the items by laying them flat on a non-combustible surface and then contact the local solid waste authority regarding safe disposal.
• Store paints, solvents and other flammable liquids that are not in use in a cabinet that complies with "NFPA 30: Flammable and Combustible Liquids Code."
• Mount portable fire extinguishers, preferably multi-purpose (ABC) models of at least 10 pounds, in accessible areas throughout the worksite and on each level of the home.
• Remove scrap lumber, sawdust, cardboard containers and other highly combustible debris from the construction site every day.
• Do not allow smoking on the property, or restrict smoking to safe areas and ensure proper cigarette disposal. After workers leave for the day, watch for fires that can be ignited by smoldering materials left in wall cavities after torch use.

In advance of any major construction or renovation project, King suggested that homeowners install a centrally monitored fire and burglar alarm system. He also warned against the common practice of disconnecting these systems during construction to prevent false alarms from dust when workers sand or plaster. Instead, cover sensors with plastic bags or manufacturer-provided covers that should be removed after workers leave for the day, which is when fires often occur.

King also recommended installing motion-activated lighting, perimeter fencing, gates or chains across driveways and hiring security guards to protect a vacant home from unwanted visitors. "Vacant construction sites tend to attract unwanted attention and increase the chance of theft, vandalism and injury," he said.

Homeowners also should ask contractors or subcontractors they are considering hiring to furnish a copy of their certificate of liability to confirm they carry adequate insurance. In addition, homeowners should talk to their agent or broker about purchasing builder's risk insurance to cover their insurable interest in areas that are under construction and in any materials or equipment on the site.

"It's also a good idea to keep your insurance agent or broker informed about the status of the project, so your homeowner's policy limits can be increased as new rooms or other major additions or alterations are completed," added King.

King is the head of the technical specialist team in Chubb's Home Appraisal and Loss Prevention Department. Consisting of Chubb's most senior loss prevention experts from around the country, the team helps more than 150 Chubb residential appraisers evaluate emerging and complex risks they encounter at customers' homes. Each team member has extensive knowledge of risks prevalent in his or her region and holds specialist designations obtained through a rigorous program of internal and external coursework and on-the-job training. Their specialties include catastrophe management; infrared thermography; fire protection; security systems; and historic homes. Team members also have expertise in water intrusion, collector vehicle storage and green building techniques.

Established some 35 years ago, Chubb's Home Appraisal and Loss Prevention Department is the largest unit of its kind among 

Pending Home Sales Rise in February

Pending home sales in February increased to their highest level since June 2013 as sizeable gains in the Midwest and West offset smaller declines in the Northeast and South, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 3.1 percent to 106.9 in February from a slight downward revision of 103.7 in January and is now 12.0 percent above February 2014 (95.4). The index is at its highest level since June 2013 (109.4), has increased year-over-year for six consecutive months and is above 100 – considered an average level of activity – for the 10th consecutive month.

According to NAR's monthly Realtors® Confidence Index, the percent share of first-time buyers increased slightly for the first time in February since November 2014, up to 29 percent from 28 percent in January.Lawrence Yun, NAR chief economist, says demand appears to be strengthening as we head into the spring buying season. "Pending sales showed solid gains last month, driven by a steadily-improving labor market, mortgage rates hovering around 4 percent and the likelihood of more renters looking to hedge against increasing rents," he said. "These factors bode well for the prospect of an uptick in sales in coming months. However, the underlying obstacle – especially for first-time buyers – continues to be the depressed level of homes available for sale."

"Several markets remain highly-competitive due to supply pressures, and Realtors® are reporting severe shortages of move-in ready and available properties in lower price ranges," adds Yun. "The return of first-time buyers this year will depend on how quickly inventory shows up in the market."

The PHSI in the Northeast fell 2.3 percent to 81.7 in February, but is 4.1 percent above a year ago. In the Midwest the index leaped 11.6 percent to 110.4 in February, and is now 13.8 percent above February 2014. 

Pending home sales in the South decreased 1.4 percent to an index of 120.2 in February, but is still 10.8 percent above last February. The index in the West climbed 6.6 percent in February to 102.1 (highest since June 2013 at 111.4) and is now 18.3 percent above a year ago.

Total existing-homes sales in 2015 are forecast to be around 5.25 million, an increase of 6.4 percent from 2014. The national median existing-home price for all of this year is expected to increase around 5.6 percent. In 2014, existing-home sales declined 2.9 percent and prices rose 5.7 percent.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

How To Create An Eggs-traordinary Easter Feast

Brighten up your Easter feast with unique ideas from McCormick, the maker of America's favorite spices and food colors. Try flavor twists to refresh a traditional dish, like ham, and use food color to create vibrant centerpieces using eggs dyed in the hottest seasonal shades.

"We've developed easy tips to freshen up your table, from the ham to the place cards," said Mary Beth Harrington of the McCormick Kitchens. "Glazes like cherry bourbon and apricot chipotle bring new flavor to the classic ham, while food color can be used to make a variety of spring-inspired egg dyes to feature in Easter table decor."

Easy, Tasty Ham Glazes

A baked ham is the quintessential centerpiece of any Easter celebration. This year, change it up with a simple glaze that can be made in just minutes. Pair spices like ginger or mustard with fruity jams and preserves to balance out the saltiness of the ham. Try these four glazes: Orange, Cherry Bourbon, Apricot Pineapple Chipotle or Lemon Ginger.

Eggs: Every Which Way

Deviled eggs are an Easter menu must-have and a snap to customize by adding different flavors to a base of egg yolks. Try: Dill Mustard, Southwest , Smoky, Avocado, Tarragon Caper and Buffalo Ranch.

Dye your Easter eggs a custom color you won't find in a kit. The McCormick kitchens have created unique food color combinations to bring seasonal hues, inspired by the Pantone® Spring "Fashion Color Report," from the runway to your Easter basket.  It's as simple as adding food color to 1/2 cup boiling water and one teaspoon of vinegar.

• Marsala – 20 drops red, 4 drops blue, 10 drops green
• Aquamarine – 5 drops blue
• Scuba Blue –15 drops blue, 15 drops neon blue
• Lucite Green – 10 drops green, 2 drops blue
• Strawberry Ice – 20 drops red, 1 drop blue, 1 drop green
• Tangerine – 5 drops red, 24 drops yellow, 1 drop green
• Lavender Herb – 2 drops blue, 1 drop red, 1 drop green

Simple Egg Decor Tips

• Make a Fashionable Easter Centerpiece: Place a small vase filled with flowers inside a larger vase, fill open space with dyed eggs.
• Personalize Place Settings: Simply use a lettered sticker on your colored egg or customize your eggs before dyeing by using a light-colored crayon to write your guests' name or initials.

Wow-worthy Desserts

Create spring desserts that are as much fun to make as they are to eat. Try: Easy Lemon Daisy Cupcakes, Cinnamon Caramel Swirl Bars, Easter Egg Cake Bites, or Easter Egg Surprise Inside Cake.

To create a memorable Easter feast, reference McCormick's "Age of Spice" infographic to ensure your herbs, spices and extracts are bursting with flavor. For more Easter dinner and egg dyeing tips and recipes, visit www.McCormick.com and check us out on Pinterestand Facebook.

Coldwell Banker Real Estate Extends Relationship with ESPN's Baseball Tonight: Will Air New Commercial "Catch" with the Start of Baseball Season

There is nothing quite like the memories of playing catch in the backyard. It's warm out, the sun is going down, and in that moment only a few things matter; two people, their mitts, a baseball and a backyard. The latest ad from Coldwell Banker Real Estate LLC titled "Catch" perfectly captures this experience in a commercial that will air during shows such as ESPN Baseball Tonight along with other ESPN programming. Coldwell Banker® is now in its fourth year as a of sponsor of ESPN's Baseball Tonight and the show's Coldwell Banker® Home Field segment, during which the show's hosts demonstrate plays and strategy on an in-studio baseball diamond.

"Catch" is part of a series of commercials Coldwell Banker® has released over the past few years that tell a story about the moments and memories that make a house a home. The ad will also air on other national networks such as A&E, AMC, Comcast SportsNet and NBC. This new Coldwell Banker® ad comes on the heels of the "Home's Best Friend" commercial which highlights what's waiting on the other side of the door after a long day – our dog.

"This year's ad campaign is an extension of our brand's strategy to bring to life the amazing connection we all have with home – a very real and emotional connection," said Sean Blankenship, chief marketing officer for Coldwell Banker Real Estate LLC. "Every home has a story to tell, whether it's playing catch in the backyard or being greeted by your dog when you walk in the door. By zeroing in on these specific moments, we're able to capture those special memories that touch our hearts, and create lasting memories of home and how much it means to all of us."

The new ad begins with a father's memory of playing catch with his dad when he was a boy. The commercial then transitions to the now adult father throwing a baseball in the backyard with his daughter. It ends with the callout "every home has a story," directing viewers to www.coldwellbanker.com/stories.

Coldwell Banker will be using www.coldwellbanker.com/stories to roll out an array of content over the coming months. The site will feature stories from current sellers, selling successes and exclusive videos from professional baseball players discussing what makes their homes special.

"Coldwell Banker is a storied brand, and it's gratifying that they've chosen ESPN as the environment in which to unveil their latest story-focused creative," said Eric Johnson, executive vice president, global multimedia sales at ESPN.

The "Catch" spot was conceived by Siltanen & Partners, the national advertising agency for Coldwell Banker Real Estate LLC. It was directed by Kat Coiro, under the direction of Executive Creative Director, Rob Siltanen. The full commercial is available atcoldwellbanker.com/stories.

WILD ALASKA HALIBUT TACOS BY EXECUTIVE CHEF BEN POLLINGER

SERVES 4
PREP TIME 10 minutes
COOK TIME 10 minutes

INGREDIENTS

1 cup sour cream
Juice of 2 limes
2 plum tomatoes
1/2 small red onion

1 small jalapeño pepper
Salt, to taste
4 Wild Alaska Halibut fillets (6 oz. each)
1 teaspoon extra virgin olive oil
1 Tablespoon chili powder
12 small (4-inch) soft corn tortillas
2 cups shredded lettuce
1/2 cup cilantro leaves
DIRECTIONS


Preheat grill to medium-high. Combine sour cream with lime juice, reserve. Dice tomatoes, red onion and jalapeño; combine, season with a little salt, reserve.

Season Alaska Halibut with salt to taste. Rub with olive oil and dust with chili powder. Grill halibut about 4 minutes per side, cooking just until fish is opaque throughout. Remove to a plate. Using a fork, gently break the halibut into long pieces.
Grill tortillas 10 seconds on each side.

To assemble tacos: Lay tortillas on plate. Spread with sour cream, top with lettuce and cilantro leaves. Divide the halibut among tortillas; top with tomato salsa.




NUTRIENTS PER SERVING

Nutrients per serving: 421 calories, 17g total fat, 8g saturated fat, 36% calories from fat, 94mg cholesterol, 41g protein, 27g carbohydrate, 4g fiber, 228mg sodium, 187mg calcium and 770mg omega-3 fatty acids.

Spring Into Easter With Tips From Hershey For The Perfect Baskets And Egg Hunts

Easter is a time to celebrate with family and friends, and this year, 47 percent of people plan to create Easter baskets[1]. Hunt no further—The Hershey Company (NYSE: HSY) has new sweet treats, delicious classics and quick tips to help create baskets that will make everyone "hoppy!"

Easter Bunny's Top Basket PicksDuring the Easter season, it is better to give than to receive. In fact, 40 percent of survey respondents say creating an Easter basket is one of their favorite aspects of the holiday.

As the Easter Bunny will tell you, the key ingredient to every Easter basket is picking the perfect centerpiece. More than half of respondents (51 percent) say a chocolate bunny is the one item they would use as an Easter basket centerpiece, more so than toys or plastic eggs. 

Whether you prefer using a traditional treat, like Reese's Peanut Butter Bunny, or a fun twist on a classic such as Hershey's Solid Milk Chocolate Princess Bunny, Hershey has centerpiece options "no-bunny" can resist. Consider a new star for this year's basket; theCadbury Hollow Milk Chocolate Bunny features traditional Cadbury chocolate and is dressed for the occasion with an adorable purple bow and big black eyes.

Once you choose the perfect chocolate or peanut butter bunny, fill your basket with the top Easter favorites. Eight in ten people consider chocolate eggs an essential, so add the traditional Cadbury Creme Egg Candy that everyone knows and loves. An indulgent, egg-shaped treat of creamy milk chocolate with a center of pure gooey goodness, this classic recipe won't stay nestled long in its bed of plastic grass.

Next, don't forget to add the item one-third of respondents said they would be most excited to find in their Easter basket—Reese'sPeanut Butter Eggs! Covered in milk chocolate and filled with Reese's peanut butter, this treat will put a spring in anyone's step!

Finally, be sure to include a new treat, like the Whoppers Mini Robin Eggs Candy Carrot, which wraps everyone's favorite bite-sized candy into a festive carrot-shaped package.  

Hunt for Hershey It wouldn't be Easter without the traditional egg hunt and Hershey has "egg-cellent" chocolates that fit in plastic eggs of all shapes and sizes this Easter such as Whoppers Robin Eggs Malted Milk Eggs or Hershey's Solid Milk Chocolate Egg. In fact, 22 percent of people say egg-shaped chocolates are their favorite treat to enjoy during the season.

If you would prefer a fruit-flavored treat, fill your eggs with new Jolly Rancher Gummies Bunny Food, which come in pea, carrot, and tomato shapes. It may come as a surprise to the Easter Bunny that they don't taste like vegetables, but are flavored as delicious green apple, lemon, orange and cherry.

Share Springtime Sweets at HomeNearly half of people (48 percent) agree that chocolate is their favorite part of the Easter season. New to the Easter collection this year, Hershey's Kisses Vanilla Creme Filled Milk Chocolates will add a sweet surprise to your candy dish. These little treats come all dressed up for Easter, wrapped in festive pastel foils, and are sure to become a springtime favorite.

For more Easter ideas, including product information and delicious recipes such as Hershey's Kisses Springtime Thumbprint Cookies, visit www.CelebrateWithHersheys.com.

Survey Finds 36% of American Homeowners Think at Least Half Their Home is Disorganized

According to a recent survey by the National Association of Professional Organizers (NAPO) and Decluttr, it couldn't come at a better time. In anticipation of the time-honored tradition to clean house and home, the organizing experts at NAPO and the decluttering experts at Decluttr, teamed up to find out just how disorganized Americans feel. Turns out not only could they feel more organized in their homes, but being more organized would also save them time and a great deal of stress.

"We want Americans to realize that organization isn't just about making sure your home looks clean," says Stephen Sumner, Group Marketing Director, "it is also about peace of mind and actually ends up saving people a significant amount of time in their day when they know where things are in their home."

In addition to finding that 36% of homeowners think at least half their home is disorganized, the survey also revealed the following:

• 75% of Americans turn to mobile apps like Decluttr to help them get more organized
• Of those surveyed who hired a personal organizer, 37% did so to have a less stressful home
• More than a third of respondents listed family living spaces as the most disorganized area in the home
• 85% of respondents would save up to an hour a day if they were more organized

While organizing a home may seem like a big task, services like Decluttr that pay for unwanted clutter can provide an additional motivating factor. Last year, Americans sent 1 million units of media (DVDs, CDs and video games) to Decluttr and made almost $1 million collectively.

For more information on the survey and any questions, please contact Decluttr at decluttr@cerconebrown.com

About Decluttr Decluttr is an easy-to-use online service for people looking to earn cash by selling used DVDs, CDs and video games that are taking up space in their homes. Decluttr is owned by Entertainment Magpie (http://www.musicmagpie.co.uk), a UK-based multi-category recommerce business enabling consumers to go online and sell a wide range of used media. Decluttr marks the brand's first U.S. venture. For more information, visit www.decluttr.com. 

About NAPO The National Association of Professional Organizers (NAPO) leads and advances the organizing and productivity industry. NAPO was founded in 1985 as a nonprofit professional educational association for professional organizers. Today, NAPO has nearly 4,000 members worldwide representing the full spectrum of the global industry: professional organizers, productivity specialists, manufacturers, retailers, service providers, trainers, authors, educators, and more. NAPO is The Organizing Authority®. NAPO serves its members and the public by providing professional educational opportunities, industry leadership, productive partnerships and expert information and solutions to foster growth and fulfillment for all who work within the organizing and productivity industry or benefit from its services. NAPO is headquartered in Mt. Laurel, New Jersey, and is on the web atwww.NAPO.net.

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MISO-GLAZED ALASKA HALIBUT WITH BROCCOLI-GINGER SLAW

PREP TIME 15 minutes
COOK TIME 20 minutes

INGREDIENTS


Slaw:
2 teaspoons peeled, finely grated fresh ginger
1/3 cup fresh lime juice
2 Tablespoons granulated sugar
2 Tablespoons mirin
1 Tablespoon lite soy sauce
1 package (12 oz.) broccoli coleslaw (with broccoli, carrots and red cabbage)
1 cup red seedless grapes, halved
1 cup English cucumber, peeled, seeded, halved and thinly sliced
(or sliced celery)
1 medium navel orange, peeled, sectioned and coarsely chopped
1/3 cup fresh mint leaves, torn
1/4 cup toasted chopped peanuts, if desired

Halibut:
2 Tablespoons yellow or white miso (fermented soybean paste)
2 Tablespoons mirin
1 Tablespoon lite soy sauce
1 Tablespoon firmly-packed golden brown sugar
1/2 teaspoon peeled, finely-grated fresh ginger
4 Alaska Halibut steaks or fillets (4 to 6 oz. each), fresh, thawed or frozen
1 Tablespoon olive oil
2 teaspoons lightly toasted sesame seeds
DIRECTIONS


Slaw: In a large bowl whisk together ginger, lime juice, sugar, mirin and soy sauce until sugar dissolves. Add the broccoli coleslaw, grapes, cucumber, orange sections, mint and peanuts just before serving; toss gently.

Halibut: Heat oven to 400ºF. In small bowl whisk together miso, mirin, soy sauce, brown sugar and ginger until well blended; set aside.

Heat an oven-safe skillet over medium-high heat. Rinse any ice glaze from frozen Alaska Halibut under cold water; pat dry with paper towel. Brush both sides of halibut with oil. Place halibut in heated skillet and cook, uncovered, about 4 minutes, until browned. Turn halibut over and sear the other side, about 2 minutes. Transfer skillet to the oven; bake fish 5 minutes then brush with miso glaze. Bake an additional 6 to 9 minutes for frozen halibut or 2 to 5 minutes for fresh/thawed fish. Cook just until fish is opaque throughout.

To serve, divide slaw among four plates. Arrange halibut on top of slaw and sprinkle with sesame seeds.

NUTRIENTS PER SERVING

Nutrients per serving: 420 calories, 13g total fat, 2g saturated fat, 26% calories from fat, 45mg cholesterol, 36g protein, 42g carbohydrate, 6g fiber, 645mg sodium, 172mg calcium and 1200mg omega-3 fatty acids.

McKinney, Texas Home Sales Report

Existing-Home Sales Slightly Improve in February, Price Growth Gains Steam

Existing-home sales increased modestly in February, but constrained inventory levels pushed price growth to its fastest pace in a year, according to the National Association of Realtors. Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.2 percent to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January. Sales are 4.7 percent higher than a year ago and above year-over-year totals for the fifth consecutive month.

The median existing-home price2 for all housing types in February was $202,600, which is 7.5 percent above February 2014. This marks the 36th consecutive month of year-over-year price gains and the largest since last February (8.8 percent).

Lawrence Yun, NAR chief economist, says although February sales showed modest improvement, there's been some stagnation in the market in recent months. "Insufficient supply appears to be hampering prospective buyers in several areas of the country and is hiking prices to near unsuitable levels," he said. "Stronger price growth is a boon for homeowners looking to build additional equity, but it continues to be an obstacle for current buyers looking to close before rates rise."

Adds Yun, "Severe below-freezing winter weather likely had an impact on sales as more moderate activity was observed in the Northeast and Midwest compared to other regions of the country."

Total housing inventory3 at the end of February increased 1.6 percent to 1.89 million existing homes available for sale, but remains 0.5 percent below a year ago (1.90 million). For the second straight month, unsold inventory is at a 4.6-month supply at the current sales pace.  

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage in February slightly rose to 3.71 percent from 3.67 percent in January, marking the first monthly increase since September 2014.  

"With all indications pointing to a rate increase from the Federal Reserve this year – perhaps as early as this summer – affordability concerns could heighten as home prices and rents both continue to exceed wages," adds Yun.

A NAR study released earlier this month found that the disparity between rent and income growth is widening in metro areas throughout the country and is making it harder for renters to become homeowners.

The percent share of first-time buyers was 29 percent in February, up from 28 percent in January and the first increase since November 2014.  First-time buyers represented 28 percent of all buyers inFebruary 2014.

All-cash sales were 26 percent of transactions in February, down from 27 percent in January and down considerably from a year ago (35 percent). Individual investors, who account for many cash sales, purchased 14 percent of homes in February, down from 17 percent last month and 21 percent in February 2014. Sixty-seven percent of investors paid cash in February.

Distressed sales4 – foreclosures and short sales – were 11 percent of sales in February, unchanged for the third consecutive month and down from 16 percent a year ago. Eight percent of February sales were foreclosures and 3 percent were short sales. Foreclosures sold for an average discount of 17 percent below market value in February (15 percent in January), while short sales were discounted 15 percent (12 percent in January). 

"Investor sales are trending downward due to the continued rise in prices and fewer bargains available from distressed properties coming onto the market," says NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark."Furthermore, Realtors® in areas popular to foreign buyers, such as South Florida and the West Coast, are reporting tempered demand from international clients – who typically pay in cash – due to the strengthening U.S. dollar compared to foreign currencies."

Properties typically stayed on the market for 62 days in February, down from 69 days in January and unchanged from a year ago. Short sales were on the market the longest at a median of 120 days in February, while foreclosures sold in 58 days and non-distressed homes took 61 days. Thirty-four percent of homes sold in February were on the market for less than a month.

Single-family and Condo/Co-op Sales

Single-family home sales increased 1.4 percent to a seasonally adjusted annual rate of 4.34 million in February from 4.28 million in January, and are 5.9 percent above the 4.10 million pace a year ago. The median existing single-family home price was $204,200 in February, up 8.2 percent from February 2014.

Existing condominium and co-op sales were at a seasonally adjusted annual rate of 540,000 units in February, unchanged from January, but 3.6 below February 2014 (560,000 units). The median existing condo price was $190,200 in February, which is 2.8 percent higher than a year ago.

Regional Breakdown

February existing-home sales in the Northeast dropped 6.5 percent to an annual rate of 580,000, but are still 3.6 percent above a year ago. The median price in the Northeast was $241,800, which is 3.3 percent above a year ago.

In the Midwest, existing-home sales were at an annual level of 1.08 million in February, unchanged from January and 4.9 percent above February 2014. The median price in the Midwest was $152,900, up 8.8 percent from a year ago.

Existing-home sales in the South increased 1.9 percent to an annual rate of 2.11 million in February, and are now 6.0 percent aboveFebruary 2014. The median price in the South was $177,900, up 8.5 percent from a year ago.

Existing-home sales in the West climbed 5.7 percent to an annual rate of 1.11 million in February, and are now 2.8 percent above a year ago. The median price in the West was $290,100, which is 4.2 percent above February 2014.

NOTE:  For local information, please contact the local association of Realtors® for data from local multiple listing services. Local MLS data is the most accurate source of sales and price information in specific areas, although there may be differences in reporting methodology.

1Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings from Multiple Listing Services. Changes in sales trends outside of MLSs are not captured in the monthly series. NAR rebenchmarks home sales periodically using other sources to assess overall home sales trends, including sales not reported by MLSs.

Existing-home sales, based on closings, differ from the U.S. Census Bureau's series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which account for more than 90 percent of total home sales, are based on a much larger data sample – about 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.

The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

2The median price is where half sold for more and half sold for less; medians are more typical of market conditions than average prices, which are skewed higher by a relatively small share of upper-end transactions. The only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if additional data is received.

3Total inventory and month's supply data are available back through 1999, while single-family inventory and month's supply are available back to 1982 (prior to 1999, single-family sales accounted for more than 90 percent of transactions and condos were measured only on a quarterly basis).

The national median condo/co-op price often is higher than the median single-family home price because condos are concentrated in higher-cost housing markets. However, in a given area, single-family homes typically sell for more than condos as seen in NAR's quarterly metro area price reports.

4Distressed sales (foreclosures and short sales), days on market, first-time buyers, all-cash transactions and investors are from a monthly survey for the NAR's Realtors® Confidence Index, posted at Realtor.org.

The Pending Home Sales Index for February will be released March 30, and Existing-Home Sales for March are scheduled for April 22; release times are 10:00 a.m. EDT.

Information about NAR is available at 

ALASKA HALIBUT WITH TANGY FRUIT SALSA

SERVES 4
PREP TIME 15 minutes
COOK TIME 15 minutes

INGREDIENTS


Tangy Fruit Salsa:
2 Tablespoons fresh lemon juice
1 Tablespoon honey
1 can (11 oz.) mandarin oranges, drained and coarsely chopped
1 can (8 oz.) pineapple chunks, drained
1/4 cup red bell pepper, finely diced
1 Tablespoon fresh chives, chopped or 1/2 Tablespoon dried chives
2 teaspoons each lemon peel and chopped cilantro
1/4 to 1/2 teaspoon red pepper flakes
1/4 teaspoon salt

4 Alaska Halibut steaks or fillets (4 to 6 oz. each), fresh, thawed or frozen
2 Tablespoons olive, canola, peanut or grapeseed oil
1/2 teaspoon seasoning salt
DIRECTIONS


Prepare salsa: Combine lemon juice and honey in medium mixing bowl. Add remaining ingredients and toss together gently. Mixture can be made several hours ahead and refrigerated until ready to serve.

Prepare halibut: Preheat broiler/oven or grill to medium-high heat (450ºF).

Rinse any ice glaze from frozen Alaska Halibut under cold water; pat dry with paper towel. Brush both sides of halibut with oil. Place on a spray-coated broiling pan or well-oiled grill, 5 to 6 inches from heat, and cook about 5 minutes. Turn halibut over and sprinkle with seasoning salt. Cook an additional 7 to 10 minutes for frozen fillets or 4 to 6 minutes for fresh/thawed fish. Cook just until fish is opaque throughout.

Remove halibut to individual serving plates and top with spoonfuls of salsa.

Jarden Home Brands, makers of Ball® brand home canning products, today announced the third and final jar in its Heritage Collection series, the new Purple Heritage Collection Jars, celebrating the 100thanniversary of the Ball Brothers' "Improved" mason jar. Available in pint and quart sizes, the Purple Heritage Collection Jars feature a vintage-inspired purple color and embossed logos on front and back paying tribute to the classic amethyst jars, a collectors' favorite. These limited-edition jars are the final release in Jarden's Heritage Collection series following the success of Blue and Spring Green Heritage Collection Jars which commemorated the "Perfect Mason" and "Perfection" canning jars.

The latest Heritage Collection Jar replicates the rare and coveted purple jars from the early twentieth century. The gorgeous amethyst color originally occurred accidently due to a clarifying agent used in the jar manufacturing process. Once exposed to UV rays, the jars turned a stunning shade of purple, making them extremely popular with canners and collectors. Unlike the vintage jars, the new Heritage Collection jars maintain all of the modern standards for home canning and, like all Ball brand canning jars, are Made in America and BPA-free. A few recommended preserving recipes to pair with the Purple color include Beet & Onion Pickles, Blueberry Syrup and Cherry Pie Filling.

"The Do-It-Yourself, canning, and creative communities cherish the Heritage Collection Series Jars and we're thrilled to provide one last edition in a color beloved by all of them," said Steve Hungsberg, Director of Marketing at Jarden Home Brands. "Many of our community members requested purple as the final color for the Heritage Collection Series and we're excited to see what folks make and share in their jars this canning season."  

The perfect addition to any kitchen for fresh preserving, food storage and decor uses, the new Heritage Collection jars are produced only in 2015 and will be available while supplies last in retailers nationwide and on FreshPreservingStore.com  for $9.99 - $12.99.

For more information on all Ball brand canning products, visit www.FreshPreserving.com or the brand's social media channels including Facebook (www.Facebook.com/BallCanning), Twitter (www.Twitter.com/BallCanning) and Pinterest 

1.2 Million US Borrowers Regained Equity in Their Homes in 2014

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released new analysis showing 1.2 million borrowers regained equity in 2014, bringing the total number of mortgaged residential properties with equity at the end of Q4 2014 to approximately 44.5 million or 89 percent of all mortgaged properties. Nationwide, borrower equity increased year over year by $656 billion in Q4 2014. The CoreLogic analysis also indicates approximately 172,000 U.S. homes slipped into negative equity in the fourth quarter of 2014 from the third quarter 2014, increasing the total number of mortgaged residential properties with negative equity to 5.4 million, or 10.8 percent of all mortgaged properties. This compares to 5.2 million homes, or 10.4 percent, that were reported with negative equity in Q3 2014*, a quarter-over-quarter increase of 3.3 percent. Compared to 6.6 million homes, or 13.4 percent, reported for Q4 2013, the number of underwater homes has decreased year over year by 1.2 million or 18.9 percent.

Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in value, an increase in mortgage debt or a combination of both.

For the homes in negative equity status, the national aggregate value of negative equity was $349 billion at the end of Q4 2014. Negative equity value increased approximately $7 billion from $341.8 billion in Q3 2014 to $348.8 billion in Q4 2014. On a year-over-year basis, however, the value of negative equity declined overall from $403 billion in Q4 2013, representing a decrease of 13.4 percent in 12 months.  

Of the 49.9 million residential properties with a mortgage, approximately 10 million, or 20 percent, have less than 20-percent equity (referred to as “under-equitied”) and 1.4 million of those have less than 5-percent equity (referred to as near-negative equity). Borrowers who are “under-equitied” may have a more difficult time refinancing their existing homes or obtaining new financing to sell and buy another home due to underwriting constraints. Borrowers with near-negative equity are considered at risk of moving into negative equity if home prices fall. In contrast, if home prices rose by as little as 5 percent, an additional 1 million homeowners now in negative equity would regain equity.   

“The share of homeowners that had negative equity increased slightly in the fourth quarter of 2014, reflecting the typical weakness in home values during the final quarter of the year,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Our CoreLogic HPI dipped 0.7 percent from September to December, and the percent of owners ‘underwater’ increased to 10.8 percent. However, from December-to-December, the CoreLogic index was up 4.8 percent, and the negative equity share fell by 2.6 percentage points.”

“Negative equity continued to be a serious issue for the housing market and the U.S. economy at the end of 2014 with 5.4 million homeowners still ‘underwater’,” said Anand Nallathambi, president and CEO of CoreLogic. “We expect the situation to improve over the course of  2015. We project that the CoreLogic Home Price Index will rise 5 percent in 2015, which will  lift about 1 million homeowners out of negative equity.”

Highlights as of Q4 2014:

• Nevada had the highest percentage of mortgaged properties in negative equity at 24.2 percent; followed by Florida (23.2 percent); Arizona (18.7 percent); Illinois (16.2 percent) and Rhode Island (15.8 percent). These top five states combined account for 31.7 percent of negative equity in the United States.
• Texas had the highest percentage of mortgaged residential properties in an equity position at 97.4 percent, followed by Alaska (97.2 percent), Montana (97.0 percent), Hawaii (96.3 percent) and North Dakota (96.2 percent).
• Of the 25 largest Core Based Statistical Areas (CBSAs) based on mortgage count, Tampa-St. Petersburg-Clearwater, Fla., had the highest percentage of mortgaged properties in negative equity at 24.8 percent, followed by Phoenix-Mesa-Scottsdale, Ariz. (18.8 percent), Chicago-Naperville-Arlington Heights, Ill. (18.5 percent), Riverside-San Bernardino-Ontario, Calif. (14.8 percent) and Atlanta-Sandy Springs-Roswell, Ga. (14.6 percent).
• Of the same largest 25 CBSAs, Houston-The Woodlands-Sugar Land, Texas had the highest percentage of mortgaged properties in an equity position at 97.7 percent, followed by Dallas-Plano-Irving, TX (97.1 percent), Anaheim-Santa Ana-Irvine, Calif. (96.4 percent), Portland-Vancouver-Hillsboro, Ore. (96.4 percent) and Denver-Aurora-Lakewood, Col. (96.2 percent).
• Of the total $349 billion in negative equity, first liens without home equity loans accounted for $185 billion aggregate negative equity, while first liens with home equity loans accounted for $164 billion, or 47 percent.
• Approximately 3.2 million underwater borrowers hold first liens without home equity loans. The average mortgage balance for this group of borrowers is $228,000. The average underwater amount is $57,000.
• Approximately 2.1 million underwater borrowers hold both first and second liens. The average mortgage balance for this group of borrowers is $295,000.The average underwater amount is $77,000.
• The bulk of home equity for mortgaged properties is concentrated at the high end of the housing market. For example, 94 percent of homes valued at greater than $200,000 have equity compared with 84 percent of homes valued at less than $200,000.

Realogy Named As A 2015 World's Most Ethical Company By Ethisphere Institute For Fourth Year In A Row

Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services, today announced that the company has been recognized by the Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, as a 2015 World's Most Ethical Company®. Realogy is the parent company of Coldwell Banker.

This is the fourth consecutive year in which Realogy has received this recognition. The World's Most Ethical Companies designation recognizes those organizations that have had a material impact on the way business is conducted by fostering a culture of ethics and transparency at every level of the company. Realogy is one of just 132 companies in the world honored this year and is the only residential real estate company on the list.

"Once again, we are honored to be recognized by the Ethisphere Institute as being among an elite group of world-class companies focused on ethical leadership," said Richard A. Smith, Realogy's chairman, chief executive officer and president. "We take great pride in placing ethics and integrity at the core of our company culture. We believe that sustainable and trustworthy corporations can only be built upon a strong ethical foundation."

"Behind every winning corporate culture are individuals with the highest ethical standards," said Elisabeth Gehringer, Realogy's chief ethics and compliance officer. "Ethics is not just a theory for us, it is our practice. Against an increasingly dynamic legal and regulatory landscape and with increasingly visible business conduct, it is more important than ever that each individual be empowered to do the right thing at every decision. Collectively, our employees share the mindset that our own personal integrity can infuse our business with ethical values."

"The World's Most Ethical Companies embrace the correlation between ethical business practice and improved company performance," said Ethisphere's Chief Executive Officer, Timothy Erblich. "These companies use ethics as a means to further define their industry leadership and understand that creating an ethical culture and earning the World's Most Ethical Companies recognition involves more than just an outward facing message or a handful of senior executives saying the right thing. Earning this recognition involves the collective action of a global workforce from the top down. We congratulate everyone at Realogy for this extraordinary achievement."

The World's Most Ethical Company assessment is based upon the Ethisphere Institute's Ethics Quotient™ (EQ) framework developed over years of research to provide a means to assess an organization's performance in an objective, consistent and standardized way. Ethisphere assesses companies based on their scores in five key categories: ethics and compliance program (35%), corporate citizenship and responsibility (20%), culture of ethics (20%), governance (15%) and leadership, innovation and reputation (10%).

The full list of the 2015 World's Most Ethical Companies can be found at http://ethisphere.com/worlds-most-ethical/wme-honorees/.

About the Ethisphere Institute:The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere honors superior achievement through its World's Most Ethical Companies® recognition program, provides a community of industry experts with the Business Ethics Leadership Alliance (BELA) and showcases trends and best practices in ethics with the publication of Ethisphere Magazine and The World's Most Ethical Companies Executive Briefing. Ethisphere is also the leading provider of independent verification of corporate ethics and compliance programs. More information about Ethisphere can be found at: http://ethisphere.com.

About Realogy Holdings Corp.Realogy Holdings Corp. (NYSE: RLGY) is a global leader in residential real estate franchising and brokerage with many of the best-known industry brands including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, and Sotheby's International Realty®, as well as ZipRealty®, its technology-focused brand. Collectively, Realogy's franchise system members operate approximately 13,500 offices with more than 251,300 independent sales associates conducting business in 104 countries and territories around the world. NRT LLC, Realogy's company-owned real estate brokerage, is the largest residential brokerage company in the United States, operates under several of Realogy's brands and also provides related residential real estate services. The Company also owns Cartus, a prominent worldwide provider of relocation services to corporate and affinity clients, and Title Resource Group, a leading provider of title, settlement and underwriting services. Realogy is headquartered in Madison, New Jersey.