What to Expect in 2014

Freddie Mac recently released its U.S. Economic and Housing Market Outlook for November showing that the major shift for the coming year will be a transition from a refinance-dominated mortgage market to the first purchase-dominated market the industry has seen since 2000.

Interest rates are expected to rise gradually throughout 2014 with the 30-year fixed-rate mortgage ending the year near 5 percent with affordability still strong in most markets. However, rising rates will hinder affordability in high-priced markets.

Projecting housing starts to rise to a 1.15 million pace in 2014, which should help to create around 700,000 new jobs and quicken the pace of economic growth.

Gains in home sales will be limited by continuing tight inventory in many markets, but anticipate sales to rise about 5 to 6 percent in 2014 from 2013 levels.

Expect home values to continue rising but at a more moderate pace, around 5 to 6 percent annualized. And expect multifamily property investments to continue to be relatively attractive as we enter 2014, compared with the first decade of the 2000s, based on the Freddie Mac Multifamily Investment Index.

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Date Night Ideas in Louisiana

With the cooling weather, there is no better time to schedule a romantic date night with someone you love. Here are a few fun ideas you may want to consider for a date night in Louisiana.

 A Reveillon Dinner (New Orleans)

If your special date night happens to take place on Christmas Eve, you can't beat the romance of a traditional French Reveillon Dinner. The Reveillon is a Creole New Orleans feast that takes place in the hours after midnight mass on Christmas Eve. Culinary extravagance is the hallmark of this unique and romantic dining experience. Offered at several dozen fine restaurants throughout the city, a Reveillon Dinner date is one that will never be forgotten; it's a great way to welcome the wee morning hours of Christmas.

 Holiday ballet (Baton Rouge)

Nothing makes a date more romantic than a little bit of culture. Immerse your date in beauty in an entertaining and romantic way by getting tickets to The Nutcracker: A Tale from the Bayou. Heralded as one of the more uniqueNutcracker productions, this beautiful ballet is a holiday favorite featuring the Baton Rouge Symphony Orchestra. Performances take place on Dec. 21 and 22. Afterward, take your date out for a romantic dinner for two at an area restaurant.

 Romantic carriage ride (Lake Charles)

For a special date night, consider planning a romantic carriage ride. Arrange for a New Orleans-style carriage pulled by beautiful Belgian mules to transport you and your special someone to dinner and on a tour through the historic district of Lake Charles. You can cuddle in the carriage and have an unforgettable evening.

 A very electric date (New Orleans)

Consider a night of theater for you and your loved one, followed by a stroll through the French Quarter. Throughout December, the Joy Theater — located on Canal Street, right on the edge of the romantic French Quarter — is featuring a special holiday production, Lightwire: A Very Electric Christmas. Holiday music and unique "electroluminiscent" puppeteers will start your evening off with a warm holiday glow.

 The romance of lights (Natchitoches)

Last but not at all least, consider a romantic night visit to the Festival of Lights, held each year in Natchitoches. Whether you are taking in events and entertainment as a couple or just walking hand in hand to enjoy the twinkling lights of the state's premier holiday display, you are sure to have a memorable evening together in this quaint Southern city.

These are only a few ideas for you and your special someone to enjoy this December. The holidays present many opportunities for warm cuddles in front of the fireplace and walks outside to enjoy the falling leaves and finally crisp Southern air.

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Handing Down a Family Vacation Home

Vacation homes are often places where happy family memories are made. Unfortunately, they can also be the source of headaches and disputes when heirs disagree about how to manage them.

So, as many second homeowners are closing up their family retreats for the season, it might be a good idea for those at or nearing retirement age to think about how they might pass the asset down to the next generation — especially when multiple children and their spouses will be entering into joint ownership.

Create a Master Plan: Before anything else, have honest conversations about whether there’s an interest in keeping the home. After crunching the numbers, it might not be desirable or feasible. Even if there is no mortgage, there are taxes and maintenance costs. Plus, there’s the cost of traveling to and from the home to use it.

If everyone is still game, create a master plan for the home, detailing its long-term future and how it will be handed down. For example, decide if the home is to be a place of solitude or used for frequent entertaining. Discuss any plans to develop the property further.

Also, it might be a good idea to discuss the idea of renting out the home when it’s not in use. A recent report from HomeAway, an online marketplace for vacation rentals, found that vacation rental owners were able to make, on average, $1,778 for a weekly rental over this summer. If all this planning feels like you’re treating the home like a business, you’re on the right track. This mission statement should be formal and set some structure for how the home will be used.

When there are multiple people who will gain ownership of the property, it’s also best to appoint someone as manager. That person will pay the insurance premiums, utility bills or repair the roof in the case of an emergency, she said. Sometimes the role of manager is rotated every couple of years, and it often comes with a reward of an extra time slot at the vacation home or a longer or a more desirable slot.

House Rules: By establishing house rules, everyone is clear about how time slots to use the vacation home are chosen, and how they need to leave the home once they’re done. Some families create a checklist to ensure towels are washed, folded and put away; the dishwasher is empty; and perishables are removed from the refrigerator. Failure to follow the rules can bring consequences, such as having your next use period shortened by a day or having the last pick of time slot next season. Or, if a professional cleaner has to come to tidy up after you, you might have to pick up the bill.

It’s also important to create rules on how someone can get rid of their share of the home — especially if they don’t have the means to pay expenses.

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Avoid Gobbling Up Energy on Thanksgiving

A few days before Thanksgiving

1. Install a dimmer switch for the dining room chandelier. Every time you dim a bulb’s brightness by 10%, you’ll double the bulb’s lifespan. Most CFLs don’t work with dimmers, but you can create mood lighting with incandescents and LEDs. The dimmer switch will cost you about $10.

2. Plan side dishes that can cook simultaneously with the turkey. If you cook dishes at the same temperature at the same time, you’ll reduce the amount of time the oven has to be running — it’s easier for the cook and saves energy, too.

When you start cooking

3. Lower your house thermostat a few degrees. The oven will keep the house warm. You also can turn on your ceiling fan so it sucks air up, distributing heat throughout the room.

4. Use ceramic or glass pans — you can turn down the oven’s temp by up to 25 degrees and get the same results. That’s because these materials retain heat so well, they’ll continue cooking food even after being removed from the oven.

5. Use your oven’s convection feature. When heated air is circulated around the food, it reduces the required temperature and cooking time. You’ll cut your energy use by about 20%.

6. Cook in the microwave whenever possible. Ditto slow cookers. Microwaves get the job done quickly, and although slow cookers take much longer, they still use less energy than the oven. Resist the urge to peek inside your slow cooker: Each time you remove the lid, it releases heat and can add about 25 minutes of cooking time to your dish.

7. Use lids on pots to retain heat. The food you’re cooking on the stove-top will heat up faster when you use lids.

When it’s cleanup time

8. Scrape plates instead of rinsing with hot water. Unless food is really caked on there, your dishwasher should get the dishes clean without a pre-rinse. Compost your non-meat food waste. Check out these other Thanksgiving clean-up tips.

9. Use your dishwasher. It saves energy and water, so only hand-wash things that aren't dishwasher-safe. Wait until you’ve got a full load before starting the dishwasher. Be sure to stop the appliance before the heated dry cycle; just open the door and let your dishes air-dry.

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REAL ESTATE, NEW ORLEANS : How To Prepare Your Home for Holiday Guests

REAL ESTATE, NEW ORLEANS : How To Prepare Your Home for Holiday Guests: Is your home ready for holiday visits from friends and family? Here’s how to prepare for the invasion. Some preparations for holiday g...

How To Prepare Your Home for Holiday Guests

Is your home ready for holiday visits from friends and family? Here’s how to prepare for the invasion.

Some preparations for holiday guests take only a few minutes; some take a lot longer. Start preparing your home for the holidays now.

Declutter guest rooms and public areas — foyer, kitchen, living room, den, and dining room. Remove anything unnecessary from countertops, coffee tables, and ottomans; if it’s out of sight, keep it out of mind, for now.

Light the way: Even though you can navigate your home blindfolded, your guests can’t. Make sure outside lights are working so they don’t trip on the way to your door. Put motion-activated night lights in hallways, bathrooms, and bedrooms to ensure safe passage after the sun sets.

Child proofing: Ask parents to bring hardware that keeps their small ones safe, such as baby gates and cabinet locks. Transfer toxic cleaners and medicines from base to wall cabinets. Hide matches and lighters.

Entryway upgrades

Your home’s foyer is the first place guests see, so make a good first impression.

·         Upgrade exterior entry doors or give old doors a new coat of paint. Polish and tighten door hardware, and oil hinges to prevent squeaks.

·         Clear out shoes, umbrellas, and other clutter.

Kitchen prep

Your kitchen is command central during the holidays, so make sure it’s ready for guests and extra helpers.

·         Move your coffee station into a family room so guests don’t crowd the kitchen when you’re trying to fix meals.

·         If you like to visit while you’re cooking, place extra stools and chairs around the perimeter of your kitchen so guests can set a spell.

Bathroom storage

Bring toilet paper, towels, and toiletries out of hiding, and place them on open shelves so guests can find them easily.

If you don’t have enough wall space for shelves, place these items in open baskets around the bathroom.

Also, outfit each tub with a bath mat (to avoid falls) and each toilet with a plunger (to avoid embarrassment).

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